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ApplicabiliTY of Provisions

This document outlines the applicability of various provisions of the Companies Act 2013 based on certain financial thresholds for listed, public, and private companies. Key highlights include: - Corporate social responsibility (CSR) provisions apply to listed companies with net worth of Rs. 500 crore or more, turnover of Rs. 1000 crore or more, or net profit of Rs. 5 crore or more for three consecutive years. - Internal audit requirements apply to unlisted public companies with paid-up capital of Rs. 50 crore or more, turnover of Rs. 200 crore or more, or borrowings from banks/FIs of Rs. 100 crore or more. - Appointment of key managerial personnel

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Nikhil Kasat
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235 views3 pages

ApplicabiliTY of Provisions

This document outlines the applicability of various provisions of the Companies Act 2013 based on certain financial thresholds for listed, public, and private companies. Key highlights include: - Corporate social responsibility (CSR) provisions apply to listed companies with net worth of Rs. 500 crore or more, turnover of Rs. 1000 crore or more, or net profit of Rs. 5 crore or more for three consecutive years. - Internal audit requirements apply to unlisted public companies with paid-up capital of Rs. 50 crore or more, turnover of Rs. 200 crore or more, or borrowings from banks/FIs of Rs. 100 crore or more. - Appointment of key managerial personnel

Uploaded by

Nikhil Kasat
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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ViKas Notes | Applicability of Provisions of Companies Act 2013

APPLICABILITY OF PROVISIONS
OF COMPANIES ACT 2013
For CA Final Nov 2015
Created : 06-08-2015

ViKas Notes | Applicability of Provisions of Companies Act 2013


Section
135

Chapter_
Rule
CSR
Rules

Particulars

Applicable to
Listed

Corporate Social Responsibility


> not applicable to company which ceases to satisfy the
criteria for 3 consecutive financial years

IX_13

Internal audit

Private

Net worth

500 Crore

500 Crore

500 Crore

Turnover

1,000 Crore

1,000 Crore

1,000 Crore

5 Crore

5 Crore

5 Crore

Borrowings
Deposits
Net Profit

138(1)

Public

Paid-up Capital

50 Crore

Turnover

200 Crore

200 Crore

100 Crore

100 Crore

25 Crore

10 Crore

20 Crore

50 Crore

50 Crore

Paid-up Capital

>

50 Lacs

Turnover

>

5 Crore

>

25 Lacs

Borrowings*

ALL

Deposits #
Net Profit
* from Banks or PFIs # for Public Co.s only
139(2)

X_5

Rotation of auditors
> not applicable to OPCs and small companies

Paid-up Capital
Turnover
Borrowings *

ALL

Deposits *
Net Profit

* public borrowings from FIs, banks or public deposits


143(11)

CARO, 2015

Borrowings *

ALL

ALL

Deposits *
Net Profit
* public borrowings from FIs, banks or public deposits
149(1)

XI_3

Woman director

Paid-up Capital

100 Crore

Turnover

300 Crore

Borrowings
Deposits
Net Profit

ALL

N/A

ViKas Notes | Applicability of Provisions of Companies Act 2013


Section
149(4)
177(1)
178

Chapter_
Rule
XI_4
XII_6
XII_6

Particulars

Applicable to
Listed

Independent director
Audit committee
Nomination and remuneration committee

Public

Paid-up Capital

10 Crore

Turnover

100 Crore

50 Crore

Borrowings *

ALL

Deposits *

Private

N/A

Net Profit
* outstanding loans, debentures and deposits (in aggregate)
177(9)

XII_7

Vigil mechanism for directors and employees

Paid-up Capital
Turnover
Borrowings *

ALL

>

Deposits #

50 Crore

N/A

Any amount

Net Profit
* from banks and PFIs # for Public Co.s only
203(1)

XIII_8

Appointment of key managerial personnel


[i) MD, or CEO or manager or WTD; ii) CS; & iii) CFO]

Paid-up Capital

10 Crore

Turnover
Borrowings

ALL

N/A

Deposits
Net Profit
203(1)

204(1)

XIII_8A

XIII_9

Appointment of key managerial personnel


[whole-time CS]

Paid-up Capital

5 Crore

*Rule XIII_8A provides that where a co. (public or private)


which is not covered under rule 8 and has paid-up capital
5 crore, shall have a whole-time CS

Borrowings

Secretarial audit for bigger companies

Paid-up Capital

50 Crore

Turnover

250 Crore

5 Crore

Turnover
N/A

Deposits
Net Profit

Borrowings
Deposits
Net Profit

ALL

N/A

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