AMCHAM, in collaboration with the Indian Institute of Corporate Affairs (IICA), organized a two day master class on ‘Compliance for Global Companies in India’ on January 19th & 20th at Hotel Pullman, New Delhi. Dr. Niraj Gupta, Program Director, IICA welcomed participants. Mr. Praveen Kumar, DG & CEO, IICA, in his inaugural address, spoke about the compliance environment in India and enumerated the initiatives undertaken by the Government of India. He highlighted how the increased use of technology has helped in reducing frauds. Ms. Ranjana Khanna, Director General CEO, AMCHAM gave the program overview and stressed on the importance of compliance in organizations. Mr. Gaurav Ajmani, Chairman – Anti-Corruption & FCPA Compliance Committee, AMCHAM and Associate General Counsel, Business Conduct & Ethics, Amazon Seller Services explained the more about the committee and spoke on the importance of ethics and compliance. Day 1 covered an overview of structure and functioning of foreign companies in India, corporate compliances on financial statements and audit of accounts, compliance under Foreign Exchange Management Act 1999, SEBI LODR provisions related to UPSI/disclosure/insider trading and a brief on intellectual property rights, regulatory framework on POCA: anti-corruption enforcement and the role of investigative agencies in India, a case study approach. Day 2 covered regulatory framework on transfer pricing, direct and indirect tax, compliance under environmental laws, compliance on section 135 (corporate social responsibility), compliances related to board of directors and key managerial personnel and liabilities for non-compliances: key provisions and offenses and penalties. The master class ended with a certificate distribution ceremony.
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