lexspeak
Hi Folks
“Don’t wait for someone to bring you flowers. Plant your own garden and decorate your own soul.”This is what we have done at office. The flowers you see in the banner are not photographs from the Independence Day Flower Show in Lalbagh or downloaded from Google. Yes, they are real flowers grown in our terrace garden overlooking the office.
The splash of green and riot of colours is a treat to watch – soothing and equally energising when we feel sapped with the changing rules and regulations constantly☺ The long branches of the huge trees overlooking the other side of the office almost seem to shake hands with us every day, beckoning us to take in their fresh air. The thick canopy of leaves provide shelter to birds of different hues as well as insects to feed on. Truly Mother Earth is by herself nurturing and self-sustaining. Live and let live is her mantra but do we heed ? As they say, “a flower does not think of competing with the flower next to it. It just blooms.” On the other hand, we think how to ensure the guy next to us does not bloom. It does not matter whether we bloom or not !
The other day I read somewhere of a mosquito factory that China is building to control dengue ……the male mosquitoes are infected with a bacteria that can make the female ones infertile. This would obviously reduce the mosquito population. In China everything is on a massive scale. How effective and fruitful it will be, only time will tell. Coincidentally the same day I was discussing with one of my staff members who is from the hinterland but has an earthy sense of wisdom when it comes to environment and life. As we talked on the mosquito menace he pointed out how the lack of adequate frogs in cities has led to an increase in mosquitoes. Frogs feed on mosquitoes and other insects which is nature’s way of maintaining the ecological balance. I realised how true it was. When was the last I had seen a frog or heard it croak ? where is the marsh for the frog to live ? where is the water for the marsh ? where are the rains to fill ponds and lakes ? where are the trees for the clouds to form ? I am now running out of questions and answers to solve this eco puzzle. No wonder even a seemingly small being like a mosquito can become alarmingly deadly.
Ok. Ok. Have I gone astray now……..singing paeans to the flora and fauna ? May be not !! Back to Lexspeak then………perhaps for the first time we did not carry a fortnightly issue because of lack of sufficient news updates. This is a combined August issue and that too with minimum regulatory links. Seems a lull after the storm ? Did the Parliament logjam put everything on hold ? Does this indicate a stability in the legislations ? is there better clarity ? are the departments not working enough ? Well, it is anybody’s guess. We have more than made up for it by carrying 2 relevant articles, this AGM season.
Should you wish to refer to any of our older issues of Lexspeak, do visit our Resource Centre at sharadasc.com.

Warm regards

The much awaited Form MGT-7 (i.e. for Annual Return) notified by MCA. Form will be available on MCA portal shortly.

With a view to promoting the ease of reporting of transactions under foreign direct investment, in February, 2015 RBI had advised all Authorised Dealers for enabling of reporting of Advanced Remittance Form and FCGPR Form on the e‐Biz platform of the Government of India. Now, Foreign Currency Transfer of Shares (FCTRS) is required to be filed online on the e‐Biz platform of RBI w.e.f. 24th August, 2015. The manual filing system will also continue for some more time.

Highlights:

Passengers of Indian‐origin and foreigners of over 10 years of age residing in India and coming from any country other than China, Nepal, Bhutan and Myanmar can bring goods worth Rs 45,000 along with them. Earlier, this limit was Rs 35,000.

Passengers entering India will now have to declare Indian currency exceeding Rs 25,000 and LCD, LED or plasma televisions being brought by them in the new customs declaration forms.

Divya Joshi gives a quick rundown on Secretarial Standards on Shareholders Meetings issued by ICSI and also the Sexual Harassment Act.

  • Applicable to Private Companies, Public Companies, Section 8 Companies
  • Not applicable to One Person Company (OPC)
  • Effective from 1st July, 2015

September, 2015 being the AGM season, this article should prove a pointer for conducting Meetings as per Secretarial Standards.

Board’s Report is elaborate now. In addition to all disclosures under the companies act, 2013 disclosure as to constitution of Sexual Harassment Committee and complaints received, if any must be made in the same. This is a requirement under the Sexual Harassment Act, 2013. To know more about what this Act is all about, read this article.

Note: The contents of this Newsletter are only a summary and has not dealt with any issue in detail. Any action taken or proposed to be taken must be in consultation with professionals and not merely based on the articles / news updates. Lex Valorem disclaims all liability on action taken without professional advice.

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