MCA:
MCA has issued clarification on Schedule XIII provisions applicability for Directors appointed by Companies under the provisions of the Companies Act, 1956. It was observed that some of the exemptions are not available in the Schedule V of the Companies Act, 2013, and there is a need for a clarification that a managerial person appointed in accordance with such provision of Schedule XIII of earlier Act may receive relevant remuneration for the period as approved by the company in accordance with such provisions of earlier Act. Accordingly, it has been clarified that a managerial person may continue to receive remuneration for his remaining term in accordance with terms and conditions approved by company as per relevant provisions of Schedule XIII of earlier Act even if the part of his/her tenure falls after 1st April, 2014.
MCA:
MCA has issued clarification with regard to the cases where effective yield on tax free bonds (effective rate of return) is greater than the prevailing yield of one year, three year, five year or ten year Government Security closest to the tenor of the loan, there is no violation of sub-section (7) of section 186 of the Companies Act, 2013.
JOBS & CAREERS
NIRC of ICSI is organizing a dedicated Campus Placement for “Ernst & Young (EY)” on Friday, 17.04.2015 at NIRC Prasad Nagar Building from 10.00 am to 5.00 pm. Through the said campus placement, EY is looking to hire around 15 Company Secretaries (“CS”) for their offices at different locations viz. Delhi, Mumbai & Bangalore. Their requirement is to hire around 10 Company Secretaries with 0 – 2 years of experience and around 5 Company Secretaries with 2-4 years of experience. The process, as per requirement of the recruiter, to be strictly followed for this campus placement and no walk-in candidates would be entertained by the recruiter or NIRC on 17.04.2015.
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