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Our Services

The Company was established in Chennai, given the high rates of Corporate Compliance prevailing in India in the recent years, the Company’ area of specialization was Corporate Compliance Management. With the growth of India both in Industries and service sector coupled with the globalization of the Indian economy, the Company has graduated to a full service firm, offering its clients the entire bouquet of services.

The Firm’s domestic and international clients range from privately owned entities to public listed companies including fortune 500 companies, banks, etc., the Firm has established excellent working relationships with statutory authorities, firms of Chartered Accountants, Lawyers and Investment Bankers. The Firm’s relationships with its clients are essentially based on its commitment to the quality of service and on the trust and confidence reposed in the partners of the Firm. The Firm is proud to service first generation entrepreneur and making them excelling in their respective business activities.

With the help of state of the art systems, the Firm offers an enhanced level of service to its clients. The Firm also invests in building human resources which are paramount to any service function. A staff of dedicated professionals with diverse skills and proficiency give the Firm the ability to quickly respond to client queries and also to set-up separate dedicated teams to deal with the complexities involved.

The principle approach of the Firm coupled with ethical compliances enables the Firm to discharge its professional functions dispassionately, with dignity and responsibility.

The Firm is encouraged to meet the highest standards of efficiency, sincerity and integrity and to cater to the needs of the client in a time-bound manner without any compromise on quality of service and diligence.

We believe that identifying applicable business, labour, environment laws etc. applicable to the organisation is the first stage to initiate the process.. Even our Great Chanakya 2000 years ago has advised:

“All undertakings should be preceded by consultation. Holding a consultation with only one, he may not able to reach a decision in difficult matter. With more councillors it is difficult to reach decisions and maintain secrecy”. (1.15.2,35,40). Therefore sit and counsel with those who are mature in intellect(1.15.21)

Unlike registration, compliance is not an annual event rather a continual process that needs to be practised. In our Country, Securities and Exchange Board of India (SEBI) under Clause 49 of the Listing Agreement has mandated the audit committees of companies to review reports relating to compliance with laws and also steps taken by companies to rectify non-compliances. It is also advised that a company may train its Board members in the business model of the company as well as the risk profile of the business parameters of the company, their responsibilities as directors, and the best ways to discharge them. It is even mandated that the following Information to be placed before Board of Directors i.e.,

1.    Annual operating plans and budgets and any updates.

2.    Capital budgets and any updates.

3.    Quarterly results for the company and its operating divisions or business segments.

4.    Minutes of meetings of audit committee and other committees of the board.

5.    The information on recruitment and remuneration of senior officers just below the board level, including appointment or removal of Chief Financial Officer and the Company Secretary.

6.    Show cause, demand, prosecution notices and penalty notices, which are materially important

7.    Fatal or serious accidents, dangerous occurrences, any material effluent or pollution problems.

8.    Any material default in financial obligations to and by the company, or substantial nonpayment for goods sold by the company.

9.    Any issue, which involves possible public or product liability claims of substantial nature, including any judgement or order which, may have passed strictures on the conduct of the company or taken an adverse view regarding another enterprise that can have negative implications on the company.

10. Details of any joint venture or collaboration agreement.

11. Transactions that involve substantial payment towards goodwill, brand equity, or intellectual property.

12. Significant labour problems and their proposed solutions. Any significant development in Human Resources/ Industrial Relations front like signing of wage agreement, implementation of Voluntary Retirement Scheme etc.

13. Sale of material nature, of investments, subsidiaries, assets, which is not in normal course of business.

14. Quarterly details of foreign exchange exposures and the steps taken by management to limit the risks of adverse exchange rate movement, if material.

15. Non-compliance of any regulatory, statutory or listing requirements and shareholders service such as non-payment of dividend, delay in share transfer etc.

Cent percent regulatory compliance is crucial for any business entities be it Proprietary concern, partnership firm, Private or Public companies. Non-compliance can leads to hefty fines, reputation risks, product recalls or delays in product approval, plant shutdowns, monetary loss, imprisonment etc., in addition to unnecessary waste of time and energy.

This requires expertise and full time monitoring. Small and medium companies may not afford to appoint experts and hence treating this area in a postmortem manner rather preventive is an unnecessary risk. While the governing guidelines state that business operations should be conducted within the four corner of the rules and regulations so that the business entities are kept out of trouble; prosecutions, penalties, fines and liabilities are avoided; and in as much as fostering the image of a responsible corporate citizen.

A.Corporate Laws

  1. Companies Act, 1956 and the various Rules and Regulations framed there  under, MCA-21 requirements and procedures.
  2. Limited Liability Partnership Act, 2008
  3. Foreign Exchange Management Act, 1999 and the various Rules and Regulations framed there under.
  4. Competition Act, 2002.
  5. Secretarial Standards/Accounting Standards/Cost Accounting Standards issued by ICSI/ICAI/ICWAI, respectively.
  6. Conservation of foreign exchange and Prevention of Smuggling Activities Act, 1974.
  7. Foreign Contribution Regulation Art. 1976.
  8. Prevention of Money Laundering Act, 2005.
  9. Emblems and Names (Prevention of Improper Use) Act,1947
  10. Industrial Licensing (where applicable)
  11. Special     Economic Zones Act. 2005.
  12. SEZ and STP regulations  (where applicable).
  13. Indian Stamp Act, 1899
  14. The Industries (development and Regulations) Act, 1951
  15. The Prevention of Food Adulteration Act, 1954
  16. The Monopolies and Restrictive Trade Practice Act, 1969
  17. The Sick Industrial Companies (Special Provisions) Act, 1985
  18. The Foreign Trade (Development and Regulations ) Act, 1992
  19. Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974.

20.Collection of Statistics Act, 2008

21.consumer protection Act

B. Securities Laws

  1. Listing Agreement with the Stock Exchanges
  2. The Securities Contracts (Regulation) Act, 1956
  3. Rules, Regulations and Guidelines issued by SEBI with particular emphasis on Insider Trading and Takeover Code under SEBI Act, 1992.
  4. Depositories Act, 1996 and Demat related matters.

 C.Commercial Laws

 Indian Contract Act, 1872

  1. Sale of Goods Act, 1930
  2. Transfer of Property Act, 1682
  3. Negotiable Instruments Act, 1881
  4. Arbitration and Conciliation Act, 1996
  5. Intellectual Property laws-including those on Trade Marks, Copyrights      Patents and Geographical Indications.
  6. Standards of Weights and Measures Act, 1976
  7. Standards of Weights and Measures (Packaged Commodities) Rules 1977
  8. Essential Commodities Act, 1955.

D.Fiscal Laws

  1. Finance Act
  2. Income Tax Act, 1961
  3. Central Excise Act, 1944
  4. Customs Act, 1962
  5. Wealth Tax Act, 1957
  6. Central Sales Tax. 1956/State Sales Tax Laws/Value Added Tax Act.
  7.  Service Tax.

E.    Labour Laws

Payment of Wages Act, 1936

  1. Minimum Wages Act 1948
  2. Payment of Bonus Act, 1965
  3. Payment of Gratuity Act, 1972
  4. Employees’ Provident Funds and Miscellaneous Provisions Act, 1952
  5. Employees’ State Insurance Act. 1948
  6. Factories Act, 1948
  7. Industrial Dispute Act, 1947
  8. Employees Compensation Act, 1923
  9. Workmen’s Compensation Act, 1923
  10. Contract Labour (Regulation and Abolition) Act, 1970
  11. Equal Remuneration Act, 1976
  12. Industrial Employment (Standing Orders) Act, 1946

E.Pollution/Environment related Laws

  1. Air (Prevention and Control of Pollution) Act, 1981
  2. Water (Prevention and Control of Pollution) Act. 1974
  3. Water (Prevention and Control of Pollution) Cess Act, 1974
  4. Environment Protection Art, 1986
  5. Public Liability Insurance Act, 1991
  6. The National Environment Appellate Authority Act. 1997

7   National Environment Appellate Authority (Appeal) Rules, 1997
8.   The National Environment Tribunal Act, 1995.

9. The E –Waste (Management and Handling) Rules, 2011

F.Industry Specific Laws

Legislations applicable to specific categories of industries -electricity, power generation and transmission, insurance, banking, chit funds, etc

G.Local Laws

These would include Stamp Act, Registration Act, municipal and civic administration laws, shops and establishments, etc.

H. AGREEMENTS

  1. Share Subscription Agreement
  2. Share Holders Agreement
  3. Agreements with dealers, distributors, service dealers, OEMs, etc and letters terminating these arrangements.
  4. Supply contracts, purchase orders and order acceptances
  5. Tender documents
  6. Bank and other guarantees
  7. Indemnities, legal undertakings and comfort letters
  8. Lease and rent agreements
  9. Service contracts, agreements or letters of  appointments
  10. Consultancy or technical assistance  agreements
  11. Tax collection or payment documents
  12. Suits, petitions  and affidavits
  13. Reply to show-cause notices or demand notices
  14.  Statutory returns, forms and notices

15.Any document required to be executed under the common seal of the company

  1. Mortgage, hypothecation or any such document creating a charge on the company’s moveable or immovable property
  2.  Notices and other documents in disciplinary proceedings against employees.

Indian Regulations & Guidelines for Pharma Industry

a)    Central Drugs Standard Control Organization (CDSCO), Ministry of Health & Family Welfare, Government of India provides general information about drug regulatory requirements in India.

b)   Drugs (Price Control) Order 1995 and other orders enforced by National Pharmaceutical Pricing Authority (NPPA), Government of India. View the list of drugs under price control.

c)    The Drugs & Cosmetics Act, 1940 regulates the import, manufacture, distribution and sale of drugs in India.

d)   Schedule M of the D&C Act specifies the general and specific requirements for factory premises and materials, plant and equipment and minimum recommended areas for basic installation for certain categories of drugs.

e)    Schedule T of the D&C Act prescribes GMP specifications for manufacture of Ayurvedic, Siddha and Unani medicines.

f)    The clinical trials legislative requirements are guided by specifications of Schedule Y of The D&C Act.

g)    The Ministry of Health, along with Drugs Controller General of India (DCGI) and Indian Council for Medical Research (ICMR) has come out with draft guidelines for research in human subjects. These GCP guidelines are essentially based on Declaration of Helsinki, WHO guidelines and ICH requirements for good clinical practice.

h)   The Pharmacy Act, 1948 is meant to regulate the profession of Pharmacy in India.

i)     The Drugs and Magic Remedies (Objectionable Advertisement) Act, 1954 provides to control the advertisements regarding drugs; it prohibits the advertising of remedies alleged to possess magic qualities.

j)     The Narcotic Drugs and Psychotropic Substances Act, 1985 is an act concerned with control and regulation of operations relating to Narcotic Drugs and Psychotropic Substances.

OUR ROLE AND THE OBJECTIVES INTER ALIA TO PROMOTE A BUSINESS WHICH CAN HELP SMES IMPROVE THEIR BUSINESS PERFORMANCE AND MARCH TOWARDS IPOs.