MUTUAL FUND SCHEMES BASED ON INVESTMENT OBJECTIVE Income Oriented Mutual Fund: These funds offer a fixed income to investors and it has lower risk as compared to growth funds. Under this scheme, the Asset Management Company invests funds income oriented schemes like Bonds, Debentures, Government Bonds & securities and commercial papers. Features (i) These schemes are generally have lesser risk as compared to Growth schemes. (ii) These schemes give fixed income. Growth oriented Mutual Fund: These funds offer capital appreciation over a period. Under this scheme, the Asset Management Company invests funds in the equity shares which have significant growth potential. Despite good return under this mutual fund scheme, there is no assurance or guarantee of return. In other words, it is a scheme which has high risk and high return. ...
Additional Role of Audit Committee in LODR: The role of the Audit Committee includes the following : * Oversight of company's financial reporting process & disclosure of financial information. * Recommending to the Board appointment, re-appointment and the replacement or removal of the statutory auditor and the fixation of audit fees. * Approval of payment to statutory auditors for any other services rendered. * Reviewing, with the management, the annual or quarterly financial statements before submission to the board for approval. * Reviewing, with the management, performance of statutory and internal auditors, and adequacy of the internal control systems. * Reviewing the adequacy of internal audit function. * Scrutiny of inter-corporate loans and investments. * Valuation of undertakings or assets of the listed entity, wherever it is necessary. * Evaluation of internal financial controls and risk management systems. * Discussion with internal au...
Consequences of Registration or Non-Registration of the Society The Societies Registration Act, 1860 lays down procedure for registration of societies for various bonafide purposes. The registration gives the society a legal status and is essential for: => obtaining registration and approvals under Income Tax Act; => lawful vesting of property in the societies; => provides authenticity and recognition to the society before all authorities . => for opening bank accounts and transaction of business.Effect of Registration => Only after registration, the internal rules & regulations and bye – laws bound its members. => The society can undertake only the activities which are mentioned in its objects. => A non...
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