Rechristening the ICSI


Like Olympics, world cups and leap year, another thing sure to happen is some party talk around rechristening the ICSI. Usually, this informally happens just before leap year for a single reason already in public. This event occasionally gets formal. There are similar reasons used every time for acceptance and refusal of the exercise. Most company secretaries with humble backgrounds have an issue with term “secretary” and other with restrictive term “company”.

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Designation and Category of Directors


When an applicant files a form for incorporation of a company, we need to select the designation and category of first directors in incorporation Form 32 (popularly called Spice) or wherever company appoints a director. There are four different categories of directors. We will discuss confusion regarding these categories of directors.

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ICSI National Convention 2017


I love ICSI National Conventions for knowledge, networking and new places. This was the turn of Southern India regional office of the Institute of Company Secretaries of India to host this yearly event. ICSI National Convention 2017 was held in Kazhakoottam (कष़ऽक्कूट्टम), a suburb of state capital Thiruvananthapuram. This time about 1200 attained the National Convention which is claimed to be the second highest turnaround for ICSI National Convention. This high turnaround certainly puts pressure on organizers but attendance in technical sessions was reduced to less than 50% of total delegates, thanks to Kerala and Kerala Tourism. Kerala Tourism is one of most proactive state tourism department/company in India.

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A BOARD BELOW THE QUORUM


After the list of disqualified directors made public by Government of India, Many companies facing “no director on board” or “board below the quorum” situations. In last post here, we discussed the first situation. Now, we will discuss the second one.

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No Director in Company!! #APPOINT!!


“Disqualified directors are not directors in any Company”, this is fact under Section 164 and 167. In another word, A Company with all directors disqualified under Section 164 and 167 has no director at all. Such companies need new a set of directors immediately. The Companies Act, 2013 presume two situations where a company may be without Directors. We will discuss these two situations here.

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Unease of Name Approval


Before being launched a pilot project on 26th January 2016, central registration of companies was under consideration since long. However, The Central Government under the able leadership of Prime Minister Narendra Modi launched it silently and suddenly as a pilot project for the setting of Central Registry for Companies in India. Presently, central registry looks after only two functions: (a) Name Approval and (b) Company Incorporation.

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REGISTERED VALUERS


Registered Valuers is a new concept in Indian corporate law introduced by the Companies Act, 2013. Earlier for various purposes like wealth tax assessment, we had different valuers.  Chapter XVII, Section 247 of the Companies Act, 2013 make law for registered valuers. Years earlier, we have discussed section 247 here. Now, section 247 comes into force along with a removal of difficulty order, a delegation of powers, its rules, in October 2017.

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