- December 25, 2015
- Posted by: Hushai Cconsultants LLP
- Category: Legal Updates, Uncategorized
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The enactment of the Companies Act, 2013 (the Act), effective from April 1, 2014, marked a significant shift in corporate governance practices. It ushered in a more rigorous framework for unlisted public companies and introduced stringent penalties for non-compliance. To address practical challenges encountered by companies in implementing various provisions of the Act, the Ministry of Corporate Affairs (MCA) has issued several amendments and clarifications.
Our consulting service is tailored to assist boards and key stakeholders in navigating the complexities arising from these changes. Our service offers a robust corporate governance framework, facilitating continuous improvements.
- Growth through innovation/creativity:
Rather than be constrained by ideas for new products, services and new markets coming from just a few people, a Thinking Corporation can tap into the employees. - Increased profits:
The corporation will experience an increase in profits due to savings in operating costs as well as sales from new products, services and ventures.
- Higher business values:
The link between profits and business value means that the moment a corporation creates a new sustainable level of profit, the business value is adjusted accordingly. - Lower staff turnover:
This, combined with the culture that must exist for innovation and creativity to flourish, means that new employees will be attracted to the organization.