Home India Ministry of Corporate Affairs In exercise of the powers conferred by section 29A of the Co...
Date: 2020-01-14 Category: Extra Ordinary State: Union Government Country: India

In exercise of the powers conferred by section 29A of the Company Secretaries Act, 1980

Issued by Ministry of Corporate Affairs · Not Applicable

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Executive Summary & Key Takeaways

Executive Summary: This notification from the Ministry of Corporate Affairs announces amendments to the Company Secretaries Procedures of Meetings of Quality Review Board Rules, 2006. It is issued under Section 29A of the Company Secretaries Act, 1980. The notification includes a personnel update and takes effect on the date of its publication in the Official Gazette, January 14, 2020. Key Points / Main Content: * **Authority:** The notification is issued by the Central Government, Ministry of Corporate Affairs. * **Legislative Basis:** The notification is based on Section 29A of the Company Secretaries Act, 1980, and subrule 1 of rule 8 of the Company Secretaries Procedures of Meetings of Quality Review Board Rules, 2006. * **Amendment:** The notification amends a previous notification published in the Gazette of India, number G.S.R. 490E, dated July 13, 2007. * **Personnel Change:** Serial number 5 and entries related to it have been updated to reflect Shri Pramod Kumar Rai, Member, Deputy Company Secretary, Nestle India Ltd. * **Effective Date:** The notification takes effect on the date of its publication in the Official Gazette. Impact Analysis: * **Quality Review Board Members:** * *Impact:* Updates the composition of the Quality Review Board. * *Action Required:* Note the change in membership. * **Nestle India Ltd.:** * *Impact:* Deputy Company Secretary, Shri Pramod Kumar Rai, has been appointed as a member of the Quality Review Board. * *Action Required:* Support Shri Rai in fulfilling his duties as a member of the Quality Review Board. * **Ministry of Corporate Affairs:** * *Impact:* Responsible for implementing and enforcing the changes. * *Action Required:* Ensure the updated information is reflected in relevant records and communications. * **Company Secretaries:** * *Impact:* Must adhere to the updated composition of the Quality Review Board. * *Action Required:* Be aware of the updated board composition.

Key Entities Referenced

New Delhi: Location of the Ministry of Corporate Affairs and place of publication, New Delhi, Delhi Company Secretaries Act, 1980: The Act under which the notification is issued. Company Secretaries Procedures of Meetings of Quality Review Board, and Terms and Conditions of Service and Allowances of the Chairperson and Members of the Board Rules, 2006: Rules mentioned in the notification for amendments Ministry of Corporate Affairs: The issuing authority of the notification. Pramod Kumar Rai: Name of the Member being appointed/mentioned in the notification. Nestle India Ltd.: Organization where Pramod Kumar Rai is Deputy Company Secretary. MANOJ PANDEY: Joint Secretary who signed the notification. Quality Review Board: Board mentioned in the rules being amended.
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