Companies Act 2013 Useful limits

S.No. Matter Details
1 Meeting of BOD (i)  First      30 days
(ii) 4 in FY  (Max Gap between 2 = 120 days)(iii)OPC and dormant co.==>(i) 1 ineach half of calendar year (Gap between 2 meeting should not Less than 90 days)
2 Matters not to be dealt through VIDEO/AUDIO Visual means 1. Approval of FS
2. Approval of Board Report
3. Approval of prospectus
4. Audit Committee fo accounts
5. Amal., Merger., demeger, acquisition and takover
3 Quorum for BOD (i) 1/3 or 2  whichever is max
(ii) if Interested directors are equal or greater than 2/3===>quorum=2
4 AGM i) every Year
ii) First 9 months
iii) Subsequenet 6 months
iv) Max Gap 15 months
5 Quorum for Shareholder’s meeting A. Public
i. upto 1000 members—>5
ii. 1001-5000—————>15
iii. 5001 or more———–>30B. Pvt—>5
6 Notice of AGM 21 days excluding:-
dispatch 48 hrs for service & date of meeting
7 Postal Ballot 1. Except OPC or co. having members upto 200
2. specified resolutions
3. 30 days time from posting the letter
8 186 Loan to other
1. 60% of PSC +FR+Sec Prem.
2. 100% of FR+Sec Prem.
9 Small Company

OPC

1. PSC=50 Lakh
2. TO=2 Cr
10 Buy Back 1. 25% of PSC+FR
2. Max 25% of PSC p.a.
3. If less than 10% of PSC+FR->BoD resulution sufficient
4. D/E ratio 2:1 (Max)
5. No further issue till 6 months
11 PAS-3 Red Herring Prospectus
File atleast 3 days prior
12 PAS-2 1 month prior to issue of second or subsequent offer under SHELF PROSPCTUS
13 Registration of charge Registrar can condone delay till 300 days. For more than 300 days apply to CG
14 Directorship Max 20 companies (including max 10 public company)
15 Independent Director (“ID”) Listed co must have independent directors
a. 1/3 of total director (If chairman is non exe. Director)
b. 1/2 of total director )If chairman is promoter)In below cases atleast 2 Indpendent. Dir.:-
(i)    Public + PSC  =10    Cr
(ii)   Public + TO    =100 Cr
(iii)  Public + Loan=50   Cr
16 Audit Committee (“AC”) 1. Minimum 3 Directors +
2. Majority Independent Director +
3. Financially educated (One expert)Following shall hv AC
1. Listed;
2. Following Public:-
1. PCS     10Cr
2. TO       100Cr
3. Loan   50 Cr
17 Nomination & Remuneration Committee 1. 3 or more Non Exe. Director
2. 1 or more Independent Director
18 CSR i) Companies     NW———–>500 Cr
ii)    ”                     TO———–>1000 Cr
iii)   ”                 Net Profit—->       5 Cr
applicable for Pvt Co. also
19 Political Contribution i) 7.5% of avg. NP during 3 FY
II) Other than Govt/New Co(3 years)
20 KMP KMP= CEO/MD/Manager/CFO/WTD
following must have:-
Listed + PSC 10 Cr
21 CS PSC=5 Cr–>WTCS
22 CARO 2016 1. SC+R=3Cr
2. Loan=1Cr
3. TO   =10Cr
23 Managerial Reumuneration
i)  Overall                               11% of NP——->(only for Public co.)
ii) 1 MD/WTD/Manager     5% of NP
iii) >1    ”                                  10%of NP
iv) Other dir.
(i) 1%   If MD/WTD/Manager                 (for Pvt.also)
(ii) 3% for other case
v) No Profit
(i) Sch V or
(ii) CG approval
24 Managerial Reumuneration Sch-V
i) Negative or less tha 5 Cr—-> 30 Lakh
ii) 5-100————————–> 42 Lakh
iii)100-250———————–>60 Lakh
iv) >or= 250———————->60 Lakh +0.01% of excess of 250 Cr
SR must be passed
25 INC 27 Pub to Pvt
Pvt to Pub
26 SH-3 Sweat Equity
27 SH-9 Solvency Certificate
28 Secreatarial Audit Public co +
i) PSC—->50 Cr or
b. TO—–>250 Cr

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