Seminar on the Recent Amendments in Companies Act, SEBI Guidelines and GST
Based on the recommendations of the Committee to Review Offences under the Companies Act 2013, the Companies (Amendment) Ordinance, 2018 was passed on November 2, 2018, to effect certain changes in the existing Act. The World Trade Center Kochi on 29th January 2019, organised a seminar to update the business community on these changes.The programme, held at Hotel Abad Plaza, also touched upon upon the changes in SEBI guidelines and the latest in GST.
Mr. P. M. Veeramani, Senior Partner - RGN Price and Company delivered the Key Note Address. He stressed the importance for companies to stay updated on the companies act. He was of the opinion that although the law has shaped itself the business owners are yet to take it seriously. He also cautioned the participants on the penalties that could be imposed if they violate the Act.
Mr. Baby Paul, Director-Audits BSR and Affiliates spoke on the amendments that has come in the Act. He said that under the new amendment Act, in case the number of members falls below 2 in case of private company and 7 in case of public company and they continue to carry on the business for a period of 6 months. The directors can participate in the key managerial decisions of the company by video-conferences and audio visuals, provided that sufficient quorum of board of directors are physically present. The new amendment allows the unlisted companies to hold their meeting at any place in the country with the consent of all the members. Mr. Paul opined to keep a track of things as there could be further changes in the upcoming Union Budget.
Mr. Savith Gopal, Associate Director-Indirect Tax, BSR and Affiliates covered the latest changes in GST and its impact on businesses. He covered the recent Advance Rulings as well as the Decisions and recommendations of the GST Council that met on 10th Jan 2019. Mr. Gopal also spoke about the amendments in Annual Returns and Annual Audits.
Mr. Vivek George, Deputy Manager-WTC moderated the sessions. The seminar was attended by CEOs, CFOs and Company Secretaries from leading companies in Kerala.
Mr. Sivakumar, Partner, SVJS gave away the memento to Mr. P. M. Veeramani while Mr. Alpesh Adodra, CFO, DP World handed over the memento to Mr. Baby Paul and Mr. Santosh Kumar, CFO, GAC Shipping India Pvt Ltd presented the memento to Mr. Savith V. Gopal.