Fiinovation Webinar on Poverty, Climate Change & Affirmative Action
Fiinovation press release the face of the companies act 2013
-
Upload
rahul-sharma -
Category
Presentations & Public Speaking
-
view
74 -
download
0
Transcript of Fiinovation press release the face of the companies act 2013
fiinovationPress Release
The Face of the Companies Act 2013By Fiinovation, May 02, 2014
Speaking at the occasion, K Ravi, Chairman, Corporate Laws, CSR & Capital Markets Committee, FKCCI shared
his view of The Companies Act 2013 being ‘simpler and shorter with all clauses in 309 pages’. He advocated
employing it to for an advantage. Linking corporate social responsibility (CSR) to individual social responsibility,
Mr. K G Raghavan explained it as ‘old wine in new bottle.’
The chief Guest M.R. Bhat, Registrar of Companies
(ROC) for Karnataka explained how the Ministry of
Corporate Aairs is now looking into the ‘deluge of
representations’ received from companies and their
auditors about the new clauses of the law. Clearing
doubts about the prescribed penalties, imprisonments
and sections on the prosecution by special courts,
Mr.Mr. Bhat viewed them as a medium to ‘avert or reduce
corporate scams’.
Addressing the issue of Independent Directors & Women Directors in India, Ms Vasanthi Srinivasan described the
situation as one of ‘shame and altruism’.
Mr.Mr. S. Chakraborty, Fiinovation reiterated for an increased ‘focus on whom instead of what’ while looking at busi-
nesses today when addressing issues around CSR and sustainability. He highlighted the importance of the incor-
porating the perspective of the consumer who should associate with the brand. The need for an equilibrium which
is ‘socialistic capitalism’ is important said Mr Chakraborty who also suggested the role of corporations to be inno-
vative and help devise cost effective, implementation strategies changes on ground’. Lawyers from S.R. Batliboi
& Associates and Amarchand Mangaldas thoroughly examined separate clauses of the Act specifically those re
lated to Accounts & Audits and SFIO.
The seminar helped create a platform for Chartered accountants to understand the Act and its provisions. It also
helped explain the need for CA’s to uphold nancial probity and bring corporate governance on a par with good
global practices.
New Delhi: Fiinovation collaborated with the Federation of
Karnataka Chambers of Commerce & Industry (FKCCI)
and the Institute of Company Secretaries of India (ICSI),
Bangalore Chapter for a seminar on ‘The Companies Act’
on May 2, 2014 at Bangalore. The event was attended by
over 200 participants that included audit professionals and
corporate representatives who remained engrossed
throughthrough the event that was hosted at Hotel Le Meridien.
The inaugural session had office bearers of FKCCI and
ICSI who helped ‘dissect the Companies Act’.
Connect With Us
Subscribe to Dnote Xpress