A depository is a company which has been granted a certificate of registration under the SEBI Act, 1992, to deal in securities. In simple words, it may be defined as a bank for securities. As a bank holds money for customers, the ...
The rationale behind the Minimum Wages Act, 1948 is to empower the Central Government and State Governments to fix minimum wages in certain employments so as to prevent the exploitation of the labor class which is usually ...
Under the following circumstances, an employer shall not be liable to pay any compensation. to a workman:
When injury does not result in disablement for more than 3 days.When the injury, not resulting in death or permanent total disablement is ...
The Employees State Insurance Scheme is basically a health insurance scheme. It aims at providing for cash benefits to the employees in the event of sickness, maternity and employment injury. Both employers and employees have to ...
National Company Law Tribunal:
Section 408 of the Companies Act, 2013 provides that the Central Government shall constitute National Company Law Tribunal (NCLT) by notification. The powers which were earlier entrusted to various bodies, viz., ...
Proxy Means
In any meeting, a member is entitled to attend and vote either in person or by proxy. So a proxy means an authority to represent and vote for another member in a meeting. It is through this instrument of proxy that a person is ...
The Standing Committee acts as an executive arm of the ESI Corporation. It administers the affairs of the ESI Corporation subject to general superintendence and control of the Corporation. It exercises any of the powers and performs ...
Requisites of a Valid General Meeting:
A general meeting of the members is said to be valid when it is properly convened and duly constituted. A meeting is said to be properly convened when proper notice of the meeting is issued ...
Qualifications of Auditors:
As per Sections 141 (1) & (2) only a Chartered Accountant (individual) or a firm, where majority of partners practicing in India are Chartered Accountants, can be appointed as auditor of any ...
n any meeting, the matters which are put for consideration are in the form of proposals and are called ‘motions’. In a meeting, any such ‘motion’ may be brought for consideration either by the chairman or by the secretary or by any other member ...
Employees State Insurance Corporation (ESIC):
Section 3 of the Employees’ State Insurance Act, 1948, provides for the establishment of Employees’ State Insurance Corporation by the Central Government for administration of the ...
Interim Dividend.
A dividend declared in between two Annual General Meetings of the company by the Board of Directors is known as ‘Interim Dividend’. Section 2(35) provides that dividend includes any ‘Interim Dividend’. In this way, interim ...
