“Compliances” are inevitable certainties for companies. The provisions of the Companies Act, 2013 (“Act”) and various rules formulated under it prescribe the various compliances and the way companies[1] must fulfil them. The Act provides for 4 (four) meetings of the board of directors to be held in a year[2]and
India is in its “vocal for local” and “ease of doing business” (“EoDB”) era. Yet the slew of show cause notices and penalty orders the jurisdictional registrar of companies (“RoC”) has issued against Indian companies and its directors in the recent past[1] for alleged non-compliance of significant beneficial ownership (“SBO”) disclosures,[2] corporate social responsibility (“CSR”) contributions,[3] etc. under the Companies Act, 2013 (“Companies Act”), reflect the need for a well-balanced system.Continue Reading A Fine Balance: A Perspective on recent RoC Orders