GRAFFITI #1
A. NEW ACCOUNTING STANDARDS RULES NOTIFIED
The companies are required to prepare their financial statements in conformity with the accounting standards notified by Ministry of Corporate Affairs. All the companies were required to follow
Companies (Accounting Standards) Rules, 2006 (“AS 2006”).
Thereafter, Companies (Indian Accounting Standards), Rules, 2015 (“Ind AS”) were notified from 1st
April 2015 and the Ind AS was made applicable for the accounting periods beginning on or after 1st
April, 2016, to certain class of companies, in a phased manner and currently the following classes of
Companies are required to follow Ind AS... Read More
B. EXTENTION OF TIME FOR HOLDING EXTRA-ORDINARY GENERAL MEETINGS THROUGH VC
The Ministry of Corporate Affairs has on 23rd June 2021, allowed all companies to conduct their
extra-ordinary general meeting of shareholders through VC or transact items through postal ballot
till 31st December 2021.
We had in our earlier article discussed the procedure for conducting the general meetings by VC and the same can be accessed in the following link..Read More
C. BOARD MEETINGS BY VC – REQUIREMENT OF PHYSICAL PRESENCE OF QUORUM REMOVED
Companies Act permits the Board and committee of the Board to conduct their meetings through Video Conference (“VC”) subject to compliance with the procedures prescribed thereunder
However, currently there are certain matters, which requires the presence of quorum of the board/committee at one place viz..Read More
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