Am i suppose to manage that also A sugar coated sarcastic throw of question to the company secretary (jitendra) of my firm by me, actually i Read More
Am i suppose to manage that also A sugar coated sarcastic throw of question to the company secretary (jitendra) of my firm by me, actually i was shutting down my desktop to leave for the day and he bought a bunch of files to ascertain and explain the same to new article with few sections to jot down the minutes of meeting. For the AGM of a client's co.
With introduction of companies act 2013 all sections were mixed up like Kichdi and tadka was to explain this guy with new sections overlooking the Old sections from companies act 1956. Which was by hearted by me since Childhood of CA.
I started with 313. Appointment and term of office of alternate directors.
(1) The Board of directors of a company may. it so authorized by its articles or by a resolution passed by the company in general meeting, appoint an alternate director to act for a director (hereinafter in this section called" the original director") during his absence for a period of not less than three months from the State in which meetings of the Board are ordinarily held.
(2) 2 An alternate director appointed under sub- section (1) shall not hold office as such for a period longer than that permissible to the original director in whose place he has been appointed and shall vacate office if and when the original director returns to the State in which meetings of the Board are ordinarily held.]
(3) If the term of office of the original director is determined before he so returns to the State aforesaid, any provision for the automatic re- appointment of retiring directors in default of another appointment shall apply to the original, and not to the alternate, director.
New articled assistant: Isn't this the old section number you are telling, 313
Ya I forgot new companies act 2013
I flipped through the pages of bare act and then random searches in google And final verdict as 161(1) Please read through this section and for you will get through this whole alternate director stuff and with that I left from office and headed towards the parking area to key my car, the thought only of driving in Bangalore's traffic can make you tire.
Just before I could close my car's door I heard somebody calling my name, and ya to clear the doubts it was the new articled assistant. She came almost brisk walking to catch me, and started that Mam please can you ensure that following procedure is correct so that I can write down the correct scenario
Me: what procedure to appointment?
New article: yes I'am not sure if I remember all the points;
I actually wanted to say this but my precedential ego made me to say; ya why not.
I invited her to the near by caffe, and we sat there discussing: Procedure for appointment of Alternate Director Ok I think list would be fine he mentioned and I nodded in yes and she went on roughly
1. Power in memorandum of association and articles of association, and also to call gm
2. Proper documentation
3. Consent of all concerned people
5. And disclosures
6. Hold a board meeting to pass Board Resolution for appointment of Alternate Director u/s 161(2) of Companies Act, 2013.
7. Also check the management hierarchy of your company to check such Alternate Director comes under the category of “one level below KMP”. If yes than also file form MGT.14 with board resolution for appointment.
Hey you forgot to keep a track of director's register; again the senior's ego although he might have taken care of this point but reminding a missed point some what made me felt superior. Funny yet true thats how we normal human beings are.
Winding up discussion on that note I finally drove to my home back. I was none the less surprised to find the new articled assistant sitting there. Man really this freaking lady actually struggled with the office registers to find my address and reached here to just thank me for helping her. That was an aww moment but I painted with a smile. And arranged her with some snacks and tea.
Ejusdem generis the last rule of interpretation of statues
To those who are lame to this phrase; Ejusdem or Eiusdem Generis Definition: Of the Read More
Ejusdem generis the last rule of interpretation of statues
To those who are lame to this phrase; Ejusdem or Eiusdem Generis Definition: Of the same kind or nature. A rule of interpretation that where a class of things is followed by general wording that is not itself expansive, the general wording is usually restricted things of the same type as the listed items.
Examples which I read in my final study modules popped up, if law refers to dog, cat, cow, horse, fish then it will not include lion within. I was trying to figure out a law suit with help of this rule, studying after studying, this thought was conquering my cerebellum.
Sooner I was pinged by ajay to show up at the client's room. Mr. verma sat there with a hand of his forehead and tensed the deep intense lines on his forehead presumed like his daughter fled away with his driver, non the less I pitied the driver. Hiding the smile on my face which flashed due to these revengeful silly thoughts, I was narrated with the whole scenario by ajay how Mr. verma got served with a notice by income tax department.
Please do not panic sir, its just the normal course of practice for income tax department. I was actually trying to calm Mr. suresh verma down. Ajay: why you worrying sir if you have all the whites and no blacks in the pocket? Ajay questioned to mr verma and kinda winked at me. Ajay and I handle the income tax part for Mr. verma, our firm usually allot us the work in either teams or partners, no solo accounts. Mr verma is basically into construction business with real estate transactions as cherry on the cake.
To be honest he is having lots of frowning business but he pays his taxes duly. Even I was confused why was he served with notice, but without reading one there was no question to plot a plan. In his worry and tension he forgot to bring the notice along. He was served with coffee and snacks to serene his blood sugar level.
After lots of whats and what ifs. We decided to head towards his home to find the notice alive. Mr. verma drove by himself and came but for our long lives I decided to drive for him giving some silly excuse to relax him. Mind you steering a BMW X5 is not a small thing for a salaried employee like me. Tackling a 2900 plus cc engine in a such a way that Bangalore auto walas and bmtc drivers don't dare to scratch an inch of it is a hard-bitten task. And hats off I safely landed the grey lady at the parking lot of Mr. verma's villa.
We entered his house for the first time usually we have no work related to client's personal space but seeing his house which was not less than a castle I was truly amused. He seated us in his living space from where we could hardly figure out map for his house, he left for his room to bring the notice. Meanwhile a lady came with a uniformed servant to serve something. Without much of brain storming we concluded rightly that she was Mrs. verma and came to serve us with some snacks, Some was a small word to describe as the trolly was full of varieties of snacks and dry fruits. Maintaining the decency we sticked us bumps on sofas instead of jumping on the trays.
Mr. verma was back with the notice on his hand. I grabbed it and went through it. It was notice served for short pay of tax and asking for a huge penalty and other attached legal issues. I read it aloud which literally made Mr. verma's high BP shoot up. We again were taught few rules in our training period of how to deal with a notice served under sections 143(3) and 148 of income tax act 1961, growing we usually forget the basics. Same mistake I did. I reassured the periods for which notice was served reconfirmed all the possible sections and almost everything. Almost in the way to give up I kept back the notice's envelop on the coffee table and on gesture of leaning back my eyes picked the PAN written on the envelop.
The name was Mr. Suresh Verma but then what made me to confirm his PAN (permanent account number). And there we triumphed. Mr. Verma jumped like a four year old kid howling thats not my PAN and here we solved a uncrown case of scrutiny. Now the cashews and almonds tasted better.
NGOs sounds too sympathetic and cloying right but definitely some are not as they sound. And managing there work is another tedious job. Some Read More
NGOs sounds too sympathetic and cloying right but definitely some are not as they sound. And managing there work is another tedious job. Some people actually feel that if they are appointing a chartered accountant they have completely outsourced there accounting part to them. Its certainly not the peek time but also not low time in our firm then why was I so ironically lucky to have this task on my shoulders.
I sat wondering on my desk arranging the files, a strong fragrance struck my nose making my neck turn towards the fruity smell. It was alveera my colleague. Her fiancee had gifted her a bottle of gucci on there first month anniversary. How the world has changed earlier it used to be celebration for 25th or 50th anniversary and later came trend for celebration on completion of one year with changing era even the definition of relationships has also been changed now people are obliged on completion of one month also. She was literally flying in office with that scent and even office peon came to about her gift.
On that mood she banged on surya our another partner who currently handling Mr Bhatia with me. He shouted at alveera for her ignorance usually surya is a humble guy. But it was not his mind but his stomach that provoked him. He was facing acidity trouble. And his trouble increased hearing that today is Mr Bhatia's visit day, our most insufferable client was on his way to torture him. I dint had even better option one side Mr Bhatia and other side NGO, like idhar kua udhar khaayi. But in my saccharine sense I was happy down handling khaayi only.
Mr Bhatia had conquered our office by the time, surya sat in front of him in great discomfort which was at everybody's ease to notice. Mr Bhatia asked reason for his discomfort and he elaborated his sad story. In chirpy noise Mr Bhatia grabbed him by his hand and tugged him on to sofa and himself on the other couch, then he started some yoga posses assuring surya confident enough that he had all keys to him trouble.
And here we go with the 'pawan mukta aasan' and sooner the fruity smell spread by alveera had turned into the most atrocious fragrance that even people wont buy for free. Surya and Mr Bhatia were actually competing of who will pass more fragrance. And this went for actually some twenty minutes.
And this bomb was enough to corrupt the central Ac of the entire office. After all the gyaan intake from Ramdev baba's Aasan surya was enough powerful to work ahead but I and others were completely venomous with the pollution created by them. Room fresheners and even alveera's gucci dropped down in front of them. Holding bank reconciliation for NGO I could hardly concentrate on it. Which made my work tough enough. With all messy journals I ended up with non reconciliation of any statements.