Statutory Compliance

Statutory means "of or related to statutes," or what we normally call laws or regulations. Compliance just means to comply with or adhere to. So statutory compliance means you are following the laws on a given issue.

Complying with Central and State Acts and Regulations to keep your company safe from legal trouble has never been more demanding. And now, through Legal Research, it has become easier. Our Corporate Compliance Services are the effective solutions that can lower your compliance “risk profile”, reduce fines, reassign headcount, enable a better and higher use of limited law department resources, save measurable cost and improve effectiveness.

We provide industry leading legal research & compliance advice to enable leading corporates and organizations including Maharatna, Nabaratna and Miniratna Public Sector Undertakings (PSUs) to comply with legal requirements and other regulations while also identifying potential loopholes, for liability in the Company or organization. Advise on mitigation of such risk and formulating customized guidelines.

For example, you might have omitted to take note that under the “Building and Other Construction Workers (Regulation of Employment and Conditions of Service) Act, 1996, your company is potentially liable for penalties if you do not obtain Registration under the said Act.

We conduct the verification exercise of various Acts and Regulations which are either Central Acts or State Acts and are related to either Labour or Finance, or Economic, or are of pure technical in nature for the due diligence of our Corporate clients. Few Acts are Central Acts with State regulations.

Some of the labour and related administrative laws as well as Economic Legislations are :

Acts of Pure Technical Nature include

Other Economic and Financial as well as administrative Acts include

We conduct audit of compliances of above laws together with special laws relating to the industry and procedures at the units of our clients located at different places as required by them and at Head Office. The audit is carried out for periods as have been fallen due prior to due commencement of the exercise.

This compliance monitoring exercise can be undertaken once a year and depending upon the observations same may be carried on at such intervals as may be decided by the Management as per the SEBI guidelines under Regulation 27 (2) of the SEBI (LODR), 2015 which provides “the Board shall periodically review Compliance Reports of all laws applicable to the Company, prepared by the Company as well as steps taken by the Company to rectify instances of non-compliances”.

Further the Stock Exchanges have been directed by the SEBI to set up a separate monitoring cell with identified personnel to monitor the compliance with the provisions of the revised Reg. 27 (2) of the SEBI (LODR), 2015 on corporate governance and to submit a consolidated compliance report to SEBI within 60 days from the end of each quarter.

Our team may visit all the locations / units of our corporate clients for verification of the data / compliances as have been provided to us duly certified by the respective heads of departments who are in charge for ensuring compliances of respective laws.

Core to good corporate governance is compliance with the laws of the land.

Non-compliance with statutory obligations can result in significant late filing fees for companies, and may even lead to court prosecutions for their directors/managers. We help companies and directors to be compliant with their filing obligations under the various Acts, Rules, regulations and Notifications.

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