Modi Govt gives more fillips to private investors. Know how?
Advertisement
Advertisement
In order to attract more Private companies can now provide a shorter period for offering securities to members by way of right offers, approve employee stock options through a simple majority and follow "an easier procedure" for holding general meetings. These changes will further relax compliance requirements for private, government, charitable and
As per a statement issued by the
As per a PTI report, these private entities will not be required to file their board resolutions with the registry and give notice for directorships. The statement further added that “Requirement of mandatory consent of shareholders with regard to certain transactions relating to sale of undertaking, investments, borrowings etc has been omitted."
While calculating the maximum limit of 20 companies for audit by an auditor, one-person companies, dormant, small and private firms with less than Rs 100 crore paid-up share capital, would not be taken into account.
Advertisement
Among others, private companies with no investment by any corporate have been allowed to extend loans to directors subject to certain conditions. The official statement added that an interested private company director has now been allowed to participate in board meeting after declaring his interest.
On the other hand, for government companies, the Ministry has done away with limits on managerial remuneration as well as restrictions on maximum number of directorships and disqualification of directors in certain cases.
(Image: PIB)
Advertisement
- RBI Governor Das discusses ways to scale up UPI ecosystem with stakeholders
- People find ChatGPT to have a better moral compass than real humans, study reveals
- TVS Motor Company net profit rises 15% to ₹387 crore in March quarter
- Canara Bank Q4 profit rises 18% to ₹3,757 crore
- Indegene IPO allotment – How to check allotment, GMP, listing date and more
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market