CBSE NET Management topics from DEC 2015 paper 3

UGC NET  Management topics  from DEC 2015 paper 3

Related party transaction:-(Q no. 71)

-There is a provision in he companies Act 2013, regarding related party transactions to ensure ethical standards in managerial decisions.

-Related party transaction is a business deal or arrangement between two  parties who are joined by special relationship prior to the deal. For eg. a business transaction between a major shareholder and the corporation.

- A related party is one on  whose advice, directions or instructions (except given in professional capacity) a director or manager is accustomed to act

-A related party can be a firm in which a director, manager or his relative is a partner

-A related party is a holding/subsidiary or associate company, subsidiary's subsidiary and such person as would be prescribed

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Corporate governance:(Q 70)

-Corporate governance:- broadly refers to the mechanisms, relations, and processes by which a corporation is controlled and is directed; involves balancing the many interests of the stakeholders of a corporation.

Basically we will talk about corporate governance under two different heads:-

(A) Corporate governance under companies Act

it talks about 

• Shareholder rights
• Disclosure and transparency requirements
• Responsibilities of board.(Directors responsibility statement,appointment of independent directors, audit committee and internal check)

(B) Corporate  Governance By SEBI. it looks after:-

• Clause 49- this clause was introduced in 2000 and further revised. It depicts the list of standards corporate governance which every listed company has to follow.
• Board of directors and independent directors
• Audit committees
• Subsidiary companies
• Disclosures
• Report of corporate governance
• Compliance 
• Appointment of women director

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Current MSME schemes

MSME(Micro small and medium enterprises)

1. PMEGP (Prime Minister Employment Generation Programme )
2. NMCP (National Manufacturer Competitiveness Programme )
3. ASPIRE :- to promote innovation and rural entrepreneurs through rural livelihood incubator, technology business incubators and funds 
4.  SFURTI (Scheme of Fund for Regeneration of Traditional Industries)
5. PCR (Performance Credit Rating Scheme
6. ATI ( Assistance to training institutions
7. MA (Marketing Assistance)
8. CLCSS (Credit Linked Capital Subsidiary Schemes)
9. CUY (Coir Udyami Yojna)
10. CVY(Coir Vikas Yojana)
11. MCY(Mahila Coir  Yojana)
12. CGTMSE ( Credit Guarantee fund Scheme Assistance MSEs) 
13. MSE-CDP:- Cluster Development programmes
14. Tool Rooms
15. IC (International Corporation)

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