CompaniesAct,2013ActionChecklist

SectionNo.

Rules

BriefProvisions

Remarks

Max.Time
Limit,ifany

ImpactandActionRequired
Unlisted
ListedCompanies
Companies

INCORPORATIONOFCOMPANYANDMATTERSINCIDENTALTHERETO
TheArticlesoftheCompanyshallbeinrespectiveforms
Todoadetailedstudyon
specifiedinTableF(ScheduleI),asmaybeapplicableonthe
existingAOAvisvisTableF
Company

AOAtobe
amendedand
mattertobe
placedinnextBM
andAGM

AOAtobe
amendedand
mattertobe
placedinnextBM
andAGM

12(3)(a)

EveryCompanyshallpaintoraffixthenameandaddressof
registeredofficeandkeepthesamepainted/affixed,outside
everyofficeorplaceinwhichitsbusinessiscarriedon,in
conspicuouspositionandlegibleletters.

Tobecomplied
with

Tobecomplied
with

12(3)(c)

EveryCompanyshallgetitsname,addressofregisteredoffice,
CIN,telephone/faxno.(ifany)andemail/websiteaddress(if
any)printedonallbusinessletters,billheads,letterpapers,
Noticesandotherofficialpublications

Beingcomplied
with

Beingcomplied
with

Tobecomplied
with
Tobecomplied
withpostAOA
amendment
Tobecomplied
withpostAOA
amendment

Tobecomplied
with
Tobecomplied
withpostAOA
amendment
Tobecomplied
withpostAOA
amendment

5(6)

14(1)

AlterationofAOAtobedonethroughaSpecialResolution.

14(2)

EveryalterationofArticlesshallbefiledwithRegistrarwithin
15daysofalteration,togetherwithcopyofalteredArticles

15(1)

EveryalterationmadeinMOAandAOAshallbenotedinevery
copythereof

88(1)

MANAGEMENTANDADMINISTRATION
EveryCompanytokeepandmaintainfollowingRegistersinthe
specifiedformat:
RegisterofMembers
RegisterofDebentureholders
RegisterofotherSecurityHolders
IndexoftheRegisters
Page1of20

CompaniesAct,2013ActionChecklist

SectionNo.

Rules

BriefProvisions

Remarks
Timelineforcomplianceis6
monthsfromdateof
commencementofrules
Notransitiontimeline
mentioned

Max.Time
Limit,ifany

ImpactandActionRequired
Unlisted
ListedCompanies
Companies

88

RegisterofMembersfromthedateofregistrationshallbein
FormNo.MGT1

88

RegisterofDebentureholdersorSecurityHoldershallbein
FormNo.MGT2

88

EntryintheRegistertobedonewithin7daysofapproval

88

AllentriesinRegisterofMembers/DebentureHolderstobe
authenticatedbyCSandDateofBoardResolutionauthorizing
thesametobementioned

NotApplicable

Tobecomplied
with

91

10

ClosureofRegisterofMembersbygivingnotlessthan7days
NoticeinEnglishandHindilanguagesinrespectivenewspapers

Tobecomplied
with

NotApplicable

92

11

92

11(1)

AnnualReturntobepreparedinFormNo.MGT7tobefiled
withROCwithin60daysofAGM
CertificatefromPCSinFormMGT8tobefiledwithAnnual
Return

Tobecomplied
with
Tobecomplied
with

Tobecomplied
with
Tobecomplied
with

92

12

ExtractofAnnualReturninFormMGT9tobeannexedtothe
ApplicablefromFY1415
BoardReport

Noactionrequired Noactionrequired
forthisAGM
forthisAGM

13

FormMGT10tobefiledwithROCwithin15daysofany
change(increase/decrease)for2%ormore,inshareholding
position(value/volume)ofpromotersandtoptenshareholders

Tobecomplied
with

NotApplicable

Tobecomplied
with

Tobecomplied
with

Tobecomplied
with

Tobecomplied
with

93

96(2)
101(1)
101(1)P1

AGMtobecalledduringbusinesshours(9AMto6PM)except
NationalHoliday,inthesamecitywheretheRegisteredOffice
issituated
Generalmeetingcanbeconvenedbyprovidingclear21days DetailedChecklisttobe
notice,eitherinwritingorinelectronicmode
prepared
Meetingcanbeconvenedonashorternoticewith95%
consent
Page2of20

30Sep14

Tobedoneby
NSDL/CDSL
Tobedoneby
NSDL
Tobecomplied
with

Tobecomplied
with
NotApplicable
Tobecomplied
with

Noactionrequired Noactionrequired

CompaniesAct,2013ActionChecklist

SectionNo.

Rules

ExplanatoryStatementannexedtoNoticeforspecialbusiness
shallproviderequisitedisclosuresw.r.t.todirectors,KMP,their
relativesandpromoters(onlyforshareholding)

102

103

105

19

105

19

110

Remarks

Noticeshallbegiventoeverymember,legalrepresentatives,
auditorsanddirectorsoftheCompany

101(3)

108

BriefProvisions

20

22

Max.Time
Limit,ifany

ImpactandActionRequired
Unlisted
ListedCompanies
Companies
Tobecomplied
Tobecomplied
with
with
Tobecomplied
with

Tobecomplied
with

Quorum30

Quorum5

Tobecomplied
with

NotApplicable

ProxyFormshallbeinFormMGT11

Tobecomplied
with

Tobecomplied
with

Evotingfacilityatgeneralmeetingismandatoryforevery
listedcompanyandcompanieshavingshareholders1000or
more.

DetailedChecklisttobe
prepared

Evoting
Agreementwith
NSDL/CDSLtobe
NotApplicable
closed.
Other
requirementsto
becompliedwith

SpecifieditemstobetransactedthroughPostalBallot.

DetailedChecklisttobe
prepared

Section180and
186needspostal NotApplicable
ballotapproval

Quorumisbasedonthenumberofthemembersofthe
Company
Proxyshallhavenorighttospeakorvoteexceptonpolland
onepersonnottobeproxyformembersexceeding50in
TobeconfirmedforAGM
numbersorholdingnotmorethan10%ofshareholdingofthe
Company

Page3of20

CompaniesAct,2013ActionChecklist

SectionNo.

117

118

118(10)

118

Rules

24

BriefProvisions

Remarks

Max.Time
Limit,ifany

ImpactandActionRequired
Unlisted
ListedCompanies
Companies

Copyofeveryresolution(withexplanatorystatement,ifany)
orAgreementforthespecifiedmatterstobefiledwithROCin
FormMGT14within30days
DetailedChecklistpertaining
ArticleofCompanyshallhavecopyofresolutioneffecting
todetailsofresolutionsto
amendmentinAOAandAgreementsreferredinSection117(3)
beprepared
oftheAct
Section117(3)interaliaincludesresolutionpassedunder
Section179(3)PoweroftheBoard

Tobecomplied
with

Tobecomplied
with

Minutesofeverygeneralmeeting,Creditors,Board,
Committeeandpostalballotshallbepreparedandkeptwithin
30daysofconclusionofeverymeetingconcerned.
Allappointmentsinthemeetingshallbeincludedinthe
minutes.

Tobecomplied
with

Tobecomplied
with

EveryCompanyshallobserveSecretarialStandardsw.r.t.
GeneralandBoardMeetings,issuedbyICSIandapprovedby
CG

ExistingSSnotapprovedby
CG

MinutesofeachmeetingshallbeenteredintoMinutesBook
alongwithdateofsuchentry,within30daysofconclusionof
Dateofentryofminutesto
25(1)(a)& meeting.
beadditionallynotedin
Specificrequirementsfornotingofpostalballotresolutions.
(d)
minutes
Everypagetobeinitialed/signedwithlastpagetobesigned
anddated.

Page4of20

Tobecomplied
Tobecomplied
with,upon
with,upon
approvalfromCG approvalfromCG

Tobecomplied
with

Tobecomplied
with

CompaniesAct,2013ActionChecklist

SectionNo.

Rules

BriefProvisions

Remarks

118

MinutesofGeneral&BoardMeetingsshallbekeptat
25(1)(e)& RegisteredOfficeandkeptincustodyofCS.
(f)
Minutescanbekeptatsuchotherplaceasmaybeapproved
bytheBoardofDirectors

120

DetailedChecklistfor
Everylistedcompanyandcompanyhavingnotlessthan1000
maintenanceandinspection
27,28and
shareholder/debentureholder/securityholder,shallmaintain
ofdocumentsinelectronic
29
itsrecordsinelectronicform
formtobeprepared

121

31

EverylistedpubliccompanytoprepareareportoneachAGM
intheprescribedformatandfilethesamewithROCinForm
FormMGT15notavailable
MGT15within30daysofconclusionofAGM
inRules
Reportshallincludespecificmattersandshallbesignedand
datedbyChairmanandCS

Max.Time
Limit,ifany

May14

30Sep14

ImpactandActionRequired
Unlisted
ListedCompanies
Companies
Resolutiontobe Resolutiontobe
passedforkeeping passedforkeeping
minutesatHO
minutesatHO

Tobecomplied
with

NotApplicable

Tobecomplied
with

NotApplicable

APPOINTMENTANDQUALIFICATIONOFDIRECTORS

149(1)P2

149(3)
149(4)

Followingclassofcompaniesshallhavewomandirector:
everylistedcompany;
OtherpubliccompanyhavingpaidupsharecapitalofRs.100
Croreormore;
OtherpubliccompanyhavingturnoverofRs.300Croreor
more
Everycompanyshallhaveatleast1directorresidentofIndia
foratotalperiodofnotlessthan182daysinpreviouscalendar
year
Everylistedcompanyshallhaveatleastonethirdoftotal
numberofdirectorsasindependentdirector

Page5of20

AlreadyComplied
NotApplicable
with

AlreadyComplied AlreadyComplied
with
with
AlreadyComplied
NotApplicable
with

CompaniesAct,2013ActionChecklist

SectionNo.

149(4)

Rules

BriefProvisions

Remarks

Followingclassofpubliccompaniesshallhaveatleast2
IndependentDirectors:
PubliccompanyhavingpaidupsharecapitalofRs.10Croreor Timelineforcomplianceis1
more;
yearfromdateof
PubliccompanyhavingturnoverofRs.100Croreormore;
notificationofrules
Publiccompanyhavingaggregateoutstandingloan,
debenturesanddepositsexceedingRs.50Crore.

Page6of20

Max.Time
Limit,ifany

ImpactandActionRequired
Unlisted
ListedCompanies
Companies

31Mar15

NotApplicable

Tobecomplied
with

CompaniesAct,2013ActionChecklist

SectionNo.

149(7)

149(8)

149(10),
(11)&(13)

Rules

BriefProvisions

Remarks

Everyindependentdirectorshallgiveadeclarationthathe
meetsthecriteriaofindependenceasunder:
atthefirstmeetinginwhichheparticipatesasadirector
atthefirstmeetingoftheBoardineachfinancialyear
wheneveranychangeincircumstanceswhichaffectshis
statusasindependentdirector

CompanyandIndependentDirectorshallabidebyScheduleIV
(CodeforIndependentDirectors)

AnIndependentDirectorshallholdofficeforatermuptofive
consecutiveyears.
Shallbeeligibleforreappointmentonpassingofspecial
Tobereadinconjunction
resolutionanddisclosureofsuchappointmentinBoardReport withSEBICircular
Provisionspertainingtoretirementofdirectorsbyrotation
shallnotbeapplicabletoIndependentDirectors.

150(2)

AppointmentofIndependentDirectorshallbeapprovedin
GeneralMeetingandexplanatorystatementshallindicate
justificationforchoosingsuchperson

152(3)

NopersonshallbeappointedasDirectorunlesshehasbeen
allottedaDIN

Page7of20

Max.Time
Limit,ifany

ImpactandActionRequired
Unlisted
ListedCompanies
Companies
Tobetakenfor
Independent
Directorsand
placedinthenext
BoardMeeting

Tobecomplied
withatthetimeof
appointmentof
Independent
Director

Tobecomplied
with

Tobecomplied
withatthetimeof
appointmentof
Independent
Director

Tobecomplied
with
SurenderSingh
andSanjayKhosla
canbere
NotApplicable
appointedforonly
onemoretermof
5yearsin
forthcoming2014
AGM
Tobecomplied
withatthetimeof
Tobecomplied
appointmentof
with
Independent
Director
Beingcomplied
Beingcomplied
with
with

CompaniesAct,2013ActionChecklist

SectionNo.

Rules

BriefProvisions

Remarks

EverypersontobeappointedasDirectorshallprovidehis
consentinFormDIR2andsuchconsentshallbefiledbythe
CompanywithROCinFormDIR12within30days

Max.Time
Limit,ifany

ImpactandActionRequired
Unlisted
ListedCompanies
Companies
Ongoing
Compliances

Ongoing
Compliances

152(5)P1

ForappointmentofIndependentDirectoringeneralmeeting,
explanatorystatementtoNoticeshallincludeastatementthat
intheopinionofBoard,theindependentdirectorfulfillsthe
conditionsofappointmentasspecifiedintheAct

Tobecomplied
with

Tobecomplied
withatthetimeof
appointmentof
Independent
Director

152(6)

SubjecttoAOA,2/3ofthetotalnumberofdirectorsshallbe
rotationaldirectorsandbeappointedingeneralmeeting.
IndependentDirectorsshallnotberotationaldirectors
1/3oftherotationaldirectorsshallretirefromoffice

Ongoing
Compliances

Ongoing
Compliances

Beingcomplied
with

Beingcomplied
with

Ongoing
Compliances

Ongoing
Compliances

Ongoing
Compliances

Ongoing
Compliances

Ongoing
Compliances

Ongoing
Compliances

Ongoing
Compliances

Ongoing
Compliances

152(5)

153,154,
155,156, 9,10,11&
ProvisionsrelatedtoDIN
12
157,158&
159

160

161(1)
161(2)
161(3)

13

DetailedChecklistforDINto
beprepared

Anonretiringdirectorshallbeeligibleforappointmentas
director,providedamembernominateshimatleast14days
beforethemeetinganddepositsRs.1Lacs(refundableon
successfulappointment)
SubjecttoAOA,BoardmayappointAdditionalDirectorwho
shallholdofficeuptothedateofnextAGM
SubjecttoAOA,BoardmayappointAlternateDirectorinplace
ofadirectorwhoisnotinIndiaforaperiodnotlessthan3
months
SubjecttoAOA,Boardmayappointanomineedirector

Page8of20

CompaniesAct,2013ActionChecklist

SectionNo.

Rules

BriefProvisions

Remarks

161(4)

Boardofpubliccompaniesmayappointadirectorincasual
vacancyatitsmeeting,subjecttoregulationsofAOA

164

Disqualificationforappointmentofdirector
DeclarationfromDirectoratthetimeofappointmentorre
appointmentinFormDIR8
AnnualdisclosurefromDirectortobetaken

14

Max.Time
Limit,ifany

ImpactandActionRequired
Unlisted
ListedCompanies
Companies
Ongoing
Compliances

DetailedChecklistfor
compliancesunderthistobe
prepared

Ongoing
Compliances

Totake
Totake
declarationsfrom declarationsfrom
theDirectors
theDirectors

165

Nopersonshallbeadirectorinmorethan20companies
Maximumnumberofpubliccompaniescanbe10

Beingcomplied
with

Beingcomplied
with

167

VacationofofficeofDirector,interalia
incursdisqualificationinsection164;
absentsfromallmeetingsin12months,withorwithoutleave
ofabsence;
breachofRPTdisclosure

Ongoing
Compliances

Ongoing
Compliances

168

DirectortointimatehisresignationtotheCompany,which
theCompanyshallfilewithROCinFormDIR12in30days
Companytoputresignationdetailsonitswebsiteandinits
Directors'Report
Directorisalsorequiredtosendhisresignationletterdirector
toROCwithin30daysinFormDIR11,alongwithreasonsof
resignation

Ongoing
Compliances

Ongoing
Compliances

Tobecomplied
with

Tobecomplied
with

Ongoing
Compliances
Ongoing
Compliances

Ongoing
Compliances
Ongoing
Compliances

15&16

170(1)

17

170(2)

18

171

EveryCompanytokeepatitsRegisteredOffice,aRegisterof Registerinnewformattobe
DirectorsandKMPintheprescribedformatcontaining
maintainedw.e.f.April1,
prescribedparticulars
2014
ReturnofDirectorsandKMPtobefiledwithROCinFormDIR
12,within30daysofappointmentorchange
RegisterofDirectorandKMPtobeopenforinspectionfor
TobeaddedinAGMcheck
membersatRegisteredOfficeandalsoatAGM
list
MEETINGSOFBOARDANDITSPOWERS
Page9of20

CompaniesAct,2013ActionChecklist

SectionNo.

Rules

173(3)

173(3)P1&
P2

174(1)

174(3)

175

Remarks

MinimumnumberoffourBoardMeetingseveryyearwithnot
morethan120daysgapbetweentwomeetings

173(1)
173(2)

BriefProvisions

DetailedChecklistforVC
Meetingbeprepared

BoardMeetingthroughVideoConferencing
Atleast7days'NoticefortheBoardMeeting.Noticetobe
deliveredbyhand/post/electronicmode
Meetingcanbeconvenedonashorternoticeforurgent
matters,withpresenceofatleastoneindependentdirector,if
any
Incaseofabsenceofindependentdirector,decisiontaken
shallbecirculatedtoallthedirectorsandshallbefinalonlyon
ratificationbyatleastoneindependentdirector,ifany
Quorumshallbeonethirdortwodirectors,whicheveris
higher
DirectorsparticipatingthroughVCshallbecountedforthe
purposeofQuorum
Ifnumberofinteresteddirectorsexceed2/3oftotaldirectors,
thedirectorspresentatthemeetingshallformquorum(not
lessthan2)
ForpassingresolutionbyCirculation,thedraftresolutionto
becirculatedtoalldirectors/membersbyhand
delivery/post/courier/electronicmodeandapprovedby
majorityofdirectorsentitledtovote
ResolutiontobenotedinthesubsequentBoard/Committee
Meetingandmadepartoftheminutes

Page10of20

Max.Time
Limit,ifany

ImpactandActionRequired
Unlisted
ListedCompanies
Companies
Ongoing
Compliances

Ongoing
Compliances

Ongoing
Compliances
Ongoing
Compliances

Ongoing
Compliances
Ongoing
Compliances

Ongoing
Compliances

Ongoing
Compliances

Ongoing
Compliances

Ongoing
Compliances

Ongoing
Compliances

Ongoing
Compliances

Ongoing
Compliances

Ongoing
Compliances

CompaniesAct,2013ActionChecklist

SectionNo.

177(1)

Rules

BriefProvisions

Remarks

FollowingclassofcompaniesshallhaveAuditCommittee:
everylistedcompany;
allpubliccompanieshavingpaidupsharecapitalofRs.10
Croreormore;
allpubliccompanieshavingturnoverofRs.100Croreor
more;
allpubliccompanieshavingoutstandingloan/debt/deposits
exceedingRs.50Crore
AuditCommitteeshallhaveminimumthreedirectorswith
independentdirectorformingmajority
MajorityofAuditCommitteemembers,includingChairman,
shallhaveabilitytoreadandunderstandfinancialstatements

177(2)&(3)

Max.Time
Limit,ifany

29Aug14

ImpactandActionRequired
Unlisted
ListedCompanies
Companies

Beingcomplied
with

Beingcomplied
with

Beingcomplied
with

Tobecomplied
with

177(4)

CharterofAuditCommittee
EveryAuditCommitteeshallhavespecifiedtermsofreference tobeamendedinlinewith
Section

Termsof
Termsof
ReferenceofAudit ReferenceofAudit
Committeetobe Committeetobe
amended
reviewed

177(8)

CompositionofAuditCommitteetobedisclosedintheBoard
ReportalongwithrecommendationofCommittee,not
acceptedbyBoard,ifany

TobeincludedinDRforFY
13

Tobecomplied
with

Tobecomplied
with

177(9)

FollowingclassofcompaniesshallhaveVigilMechanismfor
directorsandemployees:
everylistedcompany;
ToprepareaPolicyonVigil
allpubliccompanieswhichacceptsdepositsfrompublic
Mechanism
allpublic/privatecompanieshavingborrowingfrombanks/FI
exceedingRs.50Crore

Tobecomplied
with

NotApplicable

Page11of20

CompaniesAct,2013ActionChecklist

SectionNo.

178(1)

178(1),(2),
(3)&(4)

178(5)

Rules

BriefProvisions

Remarks

FollowingclassofcompaniesshallhaveNominationand
RemunerationCommittee:
everylistedcompany;
allpubliccompanieshavingpaidupsharecapitalofRs.10
Croreormore;
allpubliccompanieshavingturnoverofRs.100Croreor
more;
allpubliccompanieshavingoutstandingloan/debt/deposits
exceedingRs.50Crore

Max.Time
Limit,ifany

ImpactandActionRequired
Unlisted
ListedCompanies
Companies
Termsof
Referenceof
existing
Remuneration/
Compensation
Committeetobe
amended

Termsof
Referenceof
existing
Remuneration/
Compensation
Committeetobe
amended

Charterofexisting
Remuneration/
CompensationCommittee
NominationandRemunerationCommitteeshallconsistsof tobeamendedinlinewith
threeormorenonexecutivedirectors,withnotlessthanone thisSection
ToprepareaPolicyunder
halfshallbeindependent
Chairperson(ED/NED)oftheCompanymayjoinasmember Section178(3)andthe
Policyshallbeapprovedby
butnotasChairmanoftheCommittee
theBoard
TobeincludedinDRforFY
2015

Tobecomplied
with

Tobecomplied
with

CharterofShareholder
GrievanceCommitteetobe
amendedinlinewith
Section

Tobecomplied
with

NotApplicable

EveryCompanyhavingmorethan1000shareholders/security
holdersshallconstituteaStakeholderRelationshipCommittee,
withaNonExecutiveDirectorasChairmanandsuchother
memberasdecidedbyBoard

Charterofexisting
Remuneration/
CompensationCommittee
tobeamendedinlinewith
Section

Page12of20

CompaniesAct,2013ActionChecklist

SectionNo.

179

Rules

180

184(1)

BriefProvisions

Remarks

Detailedchecklistfor
poweroftheBoardtobe
prepared
Boardtoexercisecertainpowersbyaresolutionatitsmeeting Allresolutionsunderthis
Sectionshallbefiledwith
only
ROCunderSection117,
within30daysofBoard
Meeting
Boardtoexercisefollowingpowersonlywithpriorapprovalof
shareholdersbySpecialResolution:
Sell,LeaseordisposeoffUndertakingorsubstantialthewhole
ofUndertaking;
Toinvestotherwiseintrustsecurities;
Toborrowmoneyinexcessofpaidupcapitalandfree
reserves;
Togivetimetodirectorforrepaymentofdebt
Everydirectorat:
FormMBP1(alongwithlist
Firstmeetinginwhichheparticipatesasdirector;
ofrelativesandconcernof
FirstmeetingofBoardineveryFY;
relativesintheCompanyas
Whenevertherechangeindisclosures
perRPTdefinition)
FormMBP1tobefiled
shalldiscloseinFormMBP1,hisconcernorinterestinany
withROCwithin30daysof
company,bodycorporate,firmorotherassociationof
BoardMeeting
individuals(includingshareholdinginterest)

Page13of20

Max.Time
Limit,ifany

ImpactandActionRequired
Unlisted
ListedCompanies
Companies

Tobecomplied
with

Tobecomplied
with

Resolutionfor
borrowingtobe
reviewed

Ongoing
Compliances

Tobecomplied
withinthe
forthcomingBM
May21,2014

Tobecomplied
withinthe
forthcomingBM
May16,2014

CompaniesAct,2013ActionChecklist

SectionNo.

Rules

BriefProvisions

Remarks

Directorshalldisclosenatureofhisinterestorconcernwith:
a)bodycorporateinwhichdirectororinassociationwithother
directors,holdsmorethan2%shareholdingofthatbody
corporateORisapromoter,managerorCEOofthatbody
corporate;
b)firmorotherentityinwhichsuchdirectorisapartner,
ownerormember,asthecasemaybe

Max.Time
Limit,ifany

ImpactandActionRequired
Unlisted
ListedCompanies
Companies

Ongoing
Compliances

Ongoing
Compliances

184(5)

Section184shallnotapplytoanycontractorarrangement,
betweentwocompanies,whereanydirectorofonecompany
togetherwithotherdirector,holdnotmorethan2%ofpaidup
sharecapitaloftheothercompany

Ongoing
Compliances

Ongoing
Compliances

185(1)

Unlessspecificallyprovided,noCompanyshall,directlyor
indirectly,advanceanyloan/guaranteeorsecurityin
connectionwithloan,toanydirectororanyotherpersonin
whichsuchdirectorisinterested

Ongoing
Compliances

Ongoing
Compliances

184(2)

Directorshallnotparticipateinsuchmeeting

Page14of20

CompaniesAct,2013ActionChecklist

SectionNo.

Rules

BriefProvisions

Remarks

Max.Time
Limit,ifany

ImpactandActionRequired
Unlisted
ListedCompanies
Companies

185(1)

"AnyotherpersoninwhichDirectorisinterested"shallinclude:
anydirectoroflendingcompanyorofacompanywhichisits
holdingcompanyoranypartner/relativeofsuchdirector;
anyfirminwhichsuchdirectororrelativeispartner;
anyprivatecompanyinwhichsuchdirectorisdirectoror
member;
bodycorporateatgeneralmeetingofwhich25%ormoreof
votingpowerisexercised/controlledbyoneormoredirectors;
bodycorporate,whoseBoardofDirectors,MDorManageris
accustomedtoactinaccordancewithdirectionsand
instructionsoftheBoardoranyDirectoroflendingcompany

Ongoing
Compliances

Ongoing
Compliances

185(1)P1

Thisshallnotapplyto:
a)givingofloantoMD/WTDasapartofconditionofservices
extendedtoallemployeesORpursuanttoschemeapprovedby
membersasSpecialResolution
b)acompanywhichinordinarycourseofbusinessprovides
loan/guarantee/securitywithROIbeingchargednotlessthan
bankratedeclaredbyRBI

Ongoing
Compliances

Ongoing
Compliances

TheSection185shallnotapplyto:
AnyloanmadebyholdingcompanytoitsWOSor
guarantee/securitybyholdingcompanytoanyloanmadeto
Noloanstobeprovidedto
WOS
subsidiarycompanies
Anyguarantee/securitybyholdingcompanytoanyloanmade
byBank/FItosubsidiarycompany
Theloanshouldbeutilizedforprincipalbusinessactivity

Ongoing
Compliances

Ongoing
Compliances

185(1)

10

Page15of20

CompaniesAct,2013ActionChecklist

SectionNo.

Rules

BriefProvisions

Remarks

Max.Time
Limit,ifany

Companynottomakeinvestmentthroughmorethantwo
layersofinvestmentcompanies.
Exceptions:
AcquiringcompaniesoutsideIndia,ifsuchcompanyhas
investmentsubsidiariesbeyond2layersasperlocallaw
Requiredforthepurposeofmeetinganylawor
rules/regulationsframedthereunder

186(1)

NoCompanyshalldirectly/indirectly:
giveanyloantoanypersonorotherbodycorporate;
giveguarantee/securityinconnectionwithloantoany
person/bodycorporate;
acquirebywayofsubscription,purchaseorotherwise,
securitiesofanybodycorporate

186(2)

Ongoing
Compliances

Loantoindividualsorany
otherpersonsnowincluded

11&13

186(4)

11&13

186(5)

Incaseofexceedingthelimits,priorapprovalofshareholders
byspecialresolutionshallberequired.
OneYeartransitionperiod
SpecialResolutionnotrequiredincaseof
givenforcompliance
loan/guarantee/securitytoWOSorJVORacquisitionby
holdingcompanyinWOS
TobecompliedwithforFY
Disclosuretobemadeinfinancialstatements
201415
UnanimousBoardapprovalatthemeetingisrequiredforall
investment/loan/guarantee/security

Tocheckcompliancefor
loantopersonsandpass
BoardResolutioninthe
forthcomingBM,ifrequired

Page16of20

Ongoing
Compliances

Limitsunder
section186tobe
reviewedand
Ongoing
SpecialResolution
Compliances
tobepassedin
forthcomingAGM,
ifrequired

exceeding60%ofpaidupsharecapital,freereservesand
securitiespremiumaccountOR100%offreereservesand
securitiespremiumaccount,whicheverismore

186(3)

ImpactandActionRequired
Unlisted
ListedCompanies
Companies

31Mar15

Tobereviewed

Ongoing
Compliances

Ongoing
Compliances

Ongoing
Compliances

Tobereviewed

Tobereviewed

CompaniesAct,2013ActionChecklist

SectionNo.

Rules

186(7)

BriefProvisions

Remarks

Noloanshallbegivenattheratelowerthanprescribedyield
rate
EveryCompanytomaintainRegisterinmanual/electronic
forminFormMBP2fromthedateofincorporation,keptat
Registerinnewformattobe
theRegisteredOffice
maintained
Entriestobemadechronologicalorder,within7daysofsuch
eventandauthenticatedbyCS

Max.Time
Limit,ifany

ImpactandActionRequired
Unlisted
ListedCompanies
Companies
Ongoing
Ongoing
Compliances
Compliances
Tobecomplied
with

Tobecomplied
with

186(11)

Section186shallnotapplyto:
Bankingcompany,insurancecompany,housingfinance
company,businessfinancecompany,infrastructurecompanies;
toanyacquisitionmadebyNBFCORinvestmentcompanyOR
RightIssue;

Ongoing
Compliances

Ongoing
Compliances

187(1)

AllinvestmentsmadeorheldbyCompanyinanyproperty,
securityorotherassetsshallbemadeandheldinitsown
name.
ExceptionHoldingofsharesinsubsidiarycompaniesinthe
nameofanynomineeornomineesoftheCompany,toensure
numberofmembersarenotreducedbelowstatutorylimits

Ongoing
Compliances

NotApplicable

187(3)

14

EveryCompanytomaintainRegisterinFormMBP3fromthe
dateofregistrationandkeptattheRegisteredOffice
Registerinnewformattobe
Entriestobemadechronologicalorder,alongwithnecessary maintained
detailsandauthenticatedbyCS

Tobecomplied
with

NotApplicable

15

Nocompanyshallenterintoanycontractorarrangementwith
anyRelatedPartywithoutpriorapprovaloftheBoardof
DetailedChecklistandPolicy
Directorsandshareholders.
forRelatedParty
Exception:
Transactionstobeprepared
OrdinaryCourseofBusiness;and
Arms'Length

Tobecomplied
with

Tobecomplied
with

186(9)

188

12

Page17of20

CompaniesAct,2013ActionChecklist

SectionNo.

189(1)

Rules

16

189(2)

16(1)

189

16

BriefProvisions

Remarks

Max.Time
Limit,ifany

EveryCompanyshallkeeponeormoreregistersinFormMBP
4containingtheparticularsofallcontractstowhichsection
184(2)and188applies.Afterenteringthedetails,theRegister
shallbeplacedbeforethenextBoardMeetingandsignedbyall
Registerinnewformattobe
directorspresent
maintained
Exception:
Anycontractorarrangementforsale,purchaseorsupplyof
anygoods,materialorservicesnotexceedingRs.5Lacs
BankingCompanyforcollectionofbillsinordinarycourseof
business
EverydirectorandKMPshall,within30daysof
appointment/relinquishmentofoffice,shalldisclosetothe
DisclosureunderSection
CompanyparticularsspecifiedinSection184(1),whichshallbe
184(1)inFormMBP1tobe
enteredintotheRegister.
givenbyDirectorsandKMP
ExceptionCompanies/BodyCorporatesinwhichdirector
within30daysof
himselfortogetherwithotherdirectorsholds2%orlessof
appointment/change
paidupsharecapitalshallnotberequiredtoenteredin
Register
RegistershallbekeptattheRegisteredOffice
EntriesintheRegistershallbemadeatonceinchronological
orderandshallbeauthenticatedbyCS
APPOINTMENTANDREMUNERATIONOFMANAGERIALPERSONNEL

ImpactandActionRequired
Unlisted
ListedCompanies
Companies

Tobecomplied
with

Tobecomplied
with

Tobecomplied
with

Tobecomplied
with

Tobecomplied
with

Tobecomplied
with
Ongoing
Compliances

196(1)

NoCompanyshallappointMDandManageratthesametime

Ongoing
Compliances

196(2)

NoCompanyshallappoint/reappointMD,WTDorManager
foratermexceeding5yearsatatime

VKTandPRWTD
appointmenttobe Beingcomplied
limitedto5years with
in2014AGM

Page18of20

CompaniesAct,2013ActionChecklist

SectionNo.

Rules

196(4)

196(4)P2

Remarks

197(1)P1

197(1)P2

197(2)
197(3)
&Schedule
V

ImpactandActionRequired
Unlisted
ListedCompanies
Companies

MD,WTDorManagertoappointedandterms/remunerationto
beapprovedbytheBoardatitsmeeting,subjectto
shareholder'sapprovalatnextgeneralmeetingandCG,if
applicable

Ongoing
Compliances

Ongoing
Compliances

ReturnofappointmentofMD/WTD/Manager/CEO/CS/CFOto
befiledwithROCinFormMR1within60daysofappointment

Tobecomplied
with
Inconsonance
withsection203

Tobecomplied
with
Forappointment
ofCFO

Ongoing
Compliances
Ongoing
Compliances

Ongoing
Compliances
Ongoing
Compliances

Ongoing
Compliances

Ongoing
Compliances

MRnottoincludeSittingFees

Ongoing
Compliances

Ongoing
Compliances

Incaseofinadequate/noprofits,MRtobepaidinaccordance
withScheduleVandCGapproval,asthecasemaybe

Ongoing
Compliances

Ongoing
Compliances

SittingFeescanbepaidtoanyDirectorforattendingmeeting
ofBoardorCommitteethereoforforanyotherpurposeas
MD/WTDcanbepaidsitting
maybedecidedbytheBoard
feesnow
SittingFeesshallnotexceedRs.1Lacpermeeting
SittingFeesforWomenDirectorandIndependentDirector
shallnotbelessthansittingfeesforotherdirectors

Todecidethe
sittingfees

Todecidethe
sittingfees

TotalManagerialRemunerationofapubliccompanynotto
exceed11%ofnetprofits.
Thecapof11%canexceedsubjecttoshareholdersandCG
approval
Exceptwithapprovalingeneralmeeting:
MRtooneMD/WTD/Managernottoexceed5%
MRtoallsuchMD/WTD/Managernottoexceed10%
MRtoNEDnottoexceed1%(incasethereisMDetc.)and3%
(incasethereisnoMDetc.)

197(1)

197(5)

BriefProvisions

Max.Time
Limit,ifany

Page19of20

CompaniesAct,2013ActionChecklist

SectionNo.

Rules

BriefProvisions

Remarks

Max.Time
Limit,ifany

ImpactandActionRequired
Unlisted
ListedCompanies
Companies

197(7)

NoStockOptiontoIndependentDirectorandremuneration
onlybysittingfees,commissionandreimbursement

ToreviewESOP
Scheme

197(12)

EveryListedCompanytodisclosetheratioofremunerationof
Topreparechecklistof
directorstomediansalaryofemployee
disclosures
DisclosuresshallalsoincludeparticularsmentionedinRules

ApplicableforDR
NotApplicable
forFY201415

201&SchV

6&7

203(1)

203(2)
203(4)

204

CGapprovalforManagerialRemunerationinexcessoflimits

Topreparechecklistof
requirementsandprocess

EveryListedCompanyandPublicCompanieshavingpaidup
sharecapitalofRs.10Croreormoreshallhavefollowingwhole
timeKMP:
MDorCEOorManagerorintheirabsenceWTD;
CS;
CFO
EveryKMPshallbeappointedbyBoardResolutioncontaining
termsandconditionsoftheappointment,including
remuneration
AnycasualvacancytobefilledinbytheBoardatitsmeeting,
within6months
EveryListedCompanyandPublicCompanieshaving:
PaidupcapitalofRs.50Croreormore;
ApplicableforDRforFY
TurnoverofRs.250Croreormore
201415
shallhaveSecretarialReportfromPCSinFormMR3,annexed
toBoardReport.

Page20of20

ToreviewESOP
Scheme

Toreviewthe
Managerial
Remuneration

Toreviewthe
Managerial
Remuneration

Toreview
appointmentof
CFOinBM

ToappointCFOin
nextBoard
Meeting

Ongoing
Compliances

Ongoing
Compliances

Ongoing
Compliances

Ongoing
Compliances

ApplicableforDR
NotApplicable
forFY201415