under. The Companies Act 2013. Workshop. Organized by. Confederation Of Indian Industry. Madhya Pradesh. Chapter. On 18. th. August 2015. At ABV Indian Institute of Information Technology, Gwalior. ID: 209446
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Liabilities of Directors underThe Companies Act 2013
WorkshopOrganized byConfederation Of Indian IndustryMadhya Pradesh ChapterOn 18th August 2015At ABV Indian Institute of Information Technology, GwaliorBy Advocate Anil Chawla Senior Partner,Anil Chawla Law Associates LLPwww.indialegalhelp.com
This Presentation
gives only an indication of the various provisions related to penalties and punishments for Directors under The Companies Act, 2013 of India. It is not intended to be either complete or exhaustive narration of the subject.
Slide2Preface
Companies Act, 2013 (the Act) is a Draconian lawHardly any distinction between small companies and large companiesStart of a new inspector-rajAnti-business biasDuties, penalties and punishments more stringent than applicable for public servants or heinous crimes.
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Slide3A. Some Key Concepts
A1. OfficerA2. ManagerA3. Managing DirectorA4. Key Managerial PersonnelA5. Officer in Default
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Slide4A1. Officer
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Section 2(59)
Slide5A2. Manager
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Section 2(53)
Slide6A3. Managing Director
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Section 2(54)
Slide7A4. Key Managerial Personnel
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Section 2(51)
Slide8A5. Officer in Default
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Section 2(60)
Slide9A5. Officer in Default (Continued)
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Section 2(60)
Slide10B. Some Relevant Provisions
B1. Duties of DirectorsB2. Disqualification to be a DirectorB3. Cognizable Offences with No BailB4. Protection of Independent Directors
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Slide11B1. Duties of Director
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Slide12B1. Duties of Director (Continued)
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Slide13B2. Disqualification to be a Director
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Section 164
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Slide14B2. Disqualification to be a Director (Continued)
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Section 164
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Slide15B3. Cognizable Offences Without Bail
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Section 212(6)
Slide16B4. Protection of Independent Directors
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Section 149(12)
Slide17C. Penalties and Punishments
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Slide18Chapter II – Incorporation of Company and Matters Incidentals Thereto
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Note:
Rs. 1
Lakh
= Rs. 100,000 = Rs. 0.1 million
Rs. 1
Crore
= Rs. 10,000,000 = Rs. 10 million
Slide19Chapter III – Prospectus & Allotment of Securities
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Slide20Chapter IV – Share Capital & Debentures
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Slide21Chapter IV – Share Capital & Debentures (Continued)
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Slide22Chapter V – Acceptance of Deposits
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Slide23Chapter VI – Registration of Charges
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Slide24Chapter VII – Management & Administration
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Slide25Chapter VII – Management & Admin. (Continued)
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Slide26Chapter VIII – Declaration & Payment of Dividend
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Slide27Chapter IX – Accounts of Companies
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Slide28Chapter X – Audit and Auditors
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Slide29Chapter XI – Appointment & Qualification of Directors
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Slide30Chapter XII – Meetings of Board & Its Powers
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Slide31Chapter XII – Meetings of Board (Continued)
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Slide32Chapter XIII – Appointment & Remuneration of Managerial Personnel
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Slide33Chapter XIV – Share Capital & Debentures
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Slide34Chapter XVI – Prevention of Oppression & Mismanagement
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Slide35Chapter XX – Winding Up
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Slide36Chapter XXIX – Miscellaneous
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Slide37Thanks!
We wish you the best in facing up to the Companies Act, 2013.
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Anil Chawla Law Associates LLPwww.indialegalhelp.cominfo@indialegalhelp.comTel. – 09425009280
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Anil
Chawla
Law Associates LLP is registered with limited liability and bears LLPIN AAA‑8450.
This Presentation is an academic exercise. It does not offer any advice or suggestion to any individual or firm or company.
While all efforts have been made to ensure accuracy and correctness of information provided, no warranties / assurances are provided or implied. Readers are advised to consult a Legal Professional / Company Secretary / Chartered Accountant before taking any business decisions. Anil
Chawla
Law Associates LLP does not accept any liability, either direct or indirect, with regard to any damages / consequences / results arising due to use of the information contained in this Presentation.
Next Slides
Chapter 25: corporate directors, officers, and shareholders
Liabilities of directors
Accounting for current liabilities
Liabilities and
Current liabilities & payroll
Fraud involving the understatement of liabilities
Liabilities of directors
Liabilities of directors
Chapter 13: non-financial and current liabilities