LexComply.com, is an all inclusive Compliance Management tool suitable for Professionals and Organizations to identify, assign, manage and report relevant compliances
Attestation presentation under Transfer of property Act
Compliance Management Software
1. Enhance Corporate Value Through Better Governance
WELCOME
TO THE WORLD OF
COMPLIANCE
MANAGEMENT
2. LexComply, is an all inclusive Compliance Management tool
suitable for Professionals and Organizations to identify, assign,
manage and report relevant compliances with inbuilt
repository of laws and proof of compliances.
3. RATIONALE
STATUTORY
Section 134 & 205 of Companies Act 2013 states that
The Directors of the Company, are required to report to
Registrar of Companies through its Annual Report, regarding
the existence and quality of compliance management system
in the company to ensure compliance of all applicable laws.
Applicability Every company
4. Compliance is everyone’s responsibility
Directors: As Per Section 134 (5) the Board of Directors (BoD) to
declare the following in Directors’ Report which is to be filed with
RoC that the directors : have devised proper systems to ensure
compliance with the provisions of all applicable laws ALSO have
ensured such systems were adequate and operating effectively
RATIONALE
STATUTORY
5. Key considerations
• Confirmation is required from directors and the company secretary
on compliance with all applicable laws
• Ordinarily, a company needs to comply with more than 60 central
legislations and more than 20 state legislations per state in which it
operates.
• Directors including non-executive, Managerial Personal and officers
in charge are liable for prosecution and penalty under various
applicable statutes now.
RATIONALE
STATUTORY
6. RATIONALE
OPERATIONAL
•Limited/incomplete list of applicable statutes.
•Limited skill set.
•Limited consolidation overall status of compliances.
•Limited Reporting, Monitoring and Repository Mechanism.
•Absence/limited updates.
•Safety of data.
•Dynamic Business and regulatory environment.
9. • Improves the skill set of exiting team .
• Facilitate identification of applicable statutes and compliances therein.
• System triggered compliances i.e. Due Date based, Event Based and On
Going.
• Brings in-house team ; management and consultants on single platform.
• Enable to identify the regulatory impact of business plans.
• Repository of challans , forms and other compliance related documents.
• Automated Compliance MIS , hence saves time and efforts.
• Automated updates via emails, on dashboard and at the backend in
compliance calendar.
BENEFITS