Activities Round Up

Date : 04 Aug to 04 Aug 2014
Place : New Delhi
Organised by : FISME

FISME holds Consultation Workshop on Companies Act ( New Delhi )

After promulgation of the Companies Act, FISME organized the first consultation workshop for MSME associations on 4th Aug 2014 in New Delhi.  
A panel of experts headed by Pawan Kumar Vijay and his colleagues from Corporate Professionals- a leading law firm specializing in Corporate Law, gave a detailed presentation on the new provisions of Companies Act.

The Companies Act has thrown open a number of issues for companies. The new provisions needing urgent attention of the companies include Loans to Directors & related entities;  Inter Corporate Borrowings & Guarantees, Related Party Transactions; Fund raising through Private Placements; Disqualifications of Director & Vacation of office of Director; Provisions related to Private Companies; Board meeting through Video Conferencing and E-voting at General Meetings. 

The workshop highlighted that the  new Act also put emphasis on holding Professionals (such as Chartered Accountants) more accountable, on  self regulation & e-Governance; Gender equality and Corporate Social Responsibility. 

Explaining the objective of the workshop ,FISME President Dr. D. Gandhikumar said that the workshop focussed on MSME associations so that they could take a note of the changes brought about by the new Act so that they could inform their respective members.

Secondly, keeping in view that the Act was a very comprehensive one containing over 470 sections and that MCA was issuing Circulars, Notifications and Orders one after the other to make law more clear and remove difficulties in its implementation, the workshop meant to identify clauses which needed special attention from MSME perspective.