Hello Friends
Here are the highlights of Companies Bill 2011.
Ø Rotation of Auditors in 4 years.
Ø Setting of mandatory Corporate Social Responsibility (CSR) committee to ensure that companies having networth above Rs 500 crore set aside 2% of average net profit in previous 3 years for CSR activities.
Ø There must be atleast one woman director on board of companies.
Ø Fixed term for independent directors should be 5 years who must constitute 1/3rd of total directors to ensure transparency in internal workings of companies.
Ø No stock option to independent directors on board of a company.
Ø Mandatory unpaid dividend account to be opened by companies in schedule banks. Here are the highlights of Companies Bill 2011.
Ø Rotation of Auditors in 4 years.
Ø Setting of mandatory Corporate Social Responsibility (CSR) committee to ensure that companies having networth above Rs 500 crore set aside 2% of average net profit in previous 3 years for CSR activities.
Ø There must be atleast one woman director on board of companies.
Ø Fixed term for independent directors should be 5 years who must constitute 1/3rd of total directors to ensure transparency in internal workings of companies.
Ø No stock option to independent directors on board of a company.
Ø Mandatory unpaid dividend account to be opened by companies in schedule banks.
To download companies bill 2011 click https://www.naveenchandkhulve.com/companies-bill-2011/
Regards
Naveen
CAclubindia
