[aaykarbhavan] some of the key highlights of draft rules

I  am just  going  through  and  would  like  to  share  with  you  all

kindly  share  your  views 

Best  regards

	Public  company -  Appointment  of  internal  auditors	Paid  up  capital  of  Rs.50  crores  or  more  in  preceding  financial  year   Turnover  of  Rupees  two  hundred  crores  or  more Borrowing  from  banks  and  financial  institutions  exceeding  Rs.,200  crores  preceeding financial  year Outstanding  deposits  Rs.5  crores  or  more  preceeding financial  year
	Private  company-  Appointment  of  internal  auditors	Turnover  of  Rs.200  crores  or  more  during  the  preceeding  financial  year Outstanding   loans  of  Rs.100 crores  or  more  during  the  preceding  financial  year
	Establishment  of  Vigll  mechnanism	(a) the Companies which accept deposits from the public; (b) the Companies which have borrowed money from banks and public financial institutions in excess of fifty crore rupees
	Annual  Return  certification  by  Company  Secretary  in  Practice	a  listed  company  or  a  company  having  paid  up  capital  of  Rs.10  crores  rupees  or  more  or  turnover of  Rs.50  crores or  more  shall  be  certified  by  Company  Secretary  in  practice  and  certidicate  in  form  no,  MGT -8
	Related  party  transactions	For the purposes of first proviso to sub-section (1) of section 188, except with the prior approval of the company by a special resolution- (i) a company having a paid-up share capital of ten crore rupees or more shall not enter into a contract or arrangement with any related party; or

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CS A Rengarajan

9381011200

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