TMT Lab (India) Limited invested ₹ 240 Crore in various mutual funds. Though this investment was made through TMT CPF Trust and the investments are not hold in the name of the Company. Prepare the check list with respect

CS Professional · Secretarial Audit, Compliance Management and Due Diligence · PYQS · December 2017
TMT Lab (India) Limited invested ₹ 240 Crore in various mutual funds. Though this investment was made through TMT CPF Trust and the investments are not hold in the name of the Company. Prepare the check list with respect to Register of Investments while conducting the secretarial audit of TMT Lab (India) Limited.

Answer & Explanation:

According to Section 187 of the Companies Act, 2013 read with rule 14 of Companies (meeting of board and its power) Rules, 2014 Check whether A register of investment not held in the name of the company is maintained as per Form MBP-3, in accordance with the Companies (Meetings of Board and its Powers) Rules, 2014. The entries in the register are made chronologically, the particulars of investments in shares or other securities beneficially held by the company but which are not held in its own name are to be entered. The company has also recorded the reasons for not holding the investments in its own name and the relationship or contract under which the investment is held in the name of any other person. The company has also recorded when such investments are held in a third party's name for the time being or otherwise. The register is maintained at the registered office of the company and is preserved permanently. The custody of the register is with company secretary of the company or if there is no company secretary, any director or any other officer authorised of the Board for the purpose. The entries in the register are authenticated by the company secretary of the company or by any other person authorised by the Board for the purpose.

Topics: Secretarial Audit

Open in Interactive Practice Hub · Full Practice Hub · Chapter Weightage · More in this subject

Related Questions in this Topic