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Vigil Mechanism Policy

Vigil Mechanism Policy draft in term of Section 177(9) of the Companies Act, 2013. This handy draft intends to help professionals to use and implement it with minor customization and save their time and efforts.

Chapter: XII

Section: 177(9) & (10)

Rule: 7 of the Companies (Meetings of Board and Its Powers) Rules, 2014

Approximate Time Saving: 1 day , 6 hours

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This document is meticulously drafted and made available in editable Microsoft Word format with "Vigil Mechanism Help Document"  which consists of relevant act, rules, schedule, draft agenda, draft minutes at one place. 

This handy kit intends to help you in the smooth implementation / adoption of Vigil Mechanism Policy. 

The broad index of 'Vigil Mechanism Policy help document'  consists of the following:

Sr. No.   Particulars   Page number 

 1.

Section 177

2

2.

Rule -7 of the Companies (Meetings of Board and its Powers) Rules, 2014

4

3.

Draft Audit Committee Agenda- Review of the Draft Vigil Mechanism Policy if the Company

5

4.

Draft Audit Committee Minutes- Review of Draft Vigil Mechanism Policy of XYZ Limited

6

5.

Draft Board Agenda- Approval of Vigil Mechanism Policy of XYZ Limited

 

7

6.

Draft Board Minutes- Approval of Vigil Mechanism Policy of XYZ Limited

8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 This document  is intended to address the practicle aspects for framing and implementation of a Vigil Mechanism policy and thereby help you to save your precious time, money and effort.   

Additional Information

Section 177

(9) Every listed company or such class or classes of companies, as may be prescribed,  shall establish a vigil mechanism for directors and employees to report genuine concerns in such manner as may be prescribed.

(10)  The vigil mechanism under sub-section (9) shall provide for adequate safeguards against victimisation of persons who use such mechanism and make provision for direct access to the chairperson of the Audit Committee in appropriate or exceptional cases:

Provided that the details of establishment of such mechanism shall be disclosed by the company on its website, if any, and in the Board’s report.


The following companies are required to frame / adopt vigil Mechanism : 

(a) the Companies which accept deposits from the public;
 
(b) the Companies which have borrowed money from banks and public financial institutions in excess of fifty crore rupees

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Vigil Mechanism Policy

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Vigil Mechanism - Help Document