Memorandum of Association of the Company is the foundation of any company which is being incorporated. Memorandum defines the scope and power and rights within which a company operates. Detailed lists of activities to be performed by the Company after it is incorporated are mentioned in Object Clause of Memorandum of Association. Activities to be […]
Background An alternative mechanism to the Winding up of a Company is striking off the Company. The Companies Act facilitates two modes of strike-off -Strike off by the Registrar of Companies (Under Section 248(1) of Companies Act, 2013. -Strike off by a Company on its own accord under Section 248(2) of Companies Act, 2013. Grounds […]
Transfer of shares -Procedure in India under Companies Act 2013 Shares in a company are transferrable like any other movable property in absence of any restriction under the articles of the Company. Section 56 of the Companies Act, 2013 provides that the transfer of shares of the company and other securities will be registered by […]
As per section 14 of the Companies Act, 2013 a public company may convert itself into a private company by taking approval of members by way of passing special resolution in the General Meeting and by taking the approval of Central Government on an application made in such form and manner as may be prescribed.
Appointment (Section 152) and Resignation of Director (168) under Companies Act, 2013 Appointment of Director: Section 152, Companies Act, 2013 Directors in a Company are responsible for the management of their companies, and board play an important role in governance, setting strategic direction of the companies. A director is a person who is appointed to […]
1. Form BEN-2: Form BEN-2 is the form where the beneficial owner who is required to declare a disclosure to the Registrar his interest in the shares of the company within thirty days of acquiring such beneficial interest in such a company. Section 90(4) of the Companies Act, 2013 mandates every company to file a declaration […]
Issue of Share on Rights basis is covered under Section 62 of the Companies Act, 2013 and Companies (Prospectus and Allotment of Securities) Rules, 2014. -The Right Issue of Shares is a formal invitation to the existing shareholders of the Company to buy additional new shares; such shares are issued in proportion to existing shareholding. -One pre-emptive […]
Private placement as defined under Explanation II to sub-section (1) of section 42 of the Companies Act 2013, means any offer of securities or invitation to subscribe securities to a select group of persons by a company other than by way of public offer through issue of a private placement offer letter and which satisfies […]
Central Government has decided to introduce a scheme namely ‘LLP Settlement Scheme, 2020‘, by allowing a One-time con-donation of delay in filing statutorily required documents with the Registrar. The scheme shall come into force on the 16th March, 2020 and shall remain in force up to 13th June, 2020. LLPs, that wish to avail themselves of the […]
MCA has inserted new Rule 25A Under Companies Incorporation Rules 2014 by issuing Companies Amendment Rules, 2019 with the introduction of INC 22A (ACTIVE FROM). Here are the important points to be noticed WHY ACTIVE FORM? ACTIVE FORM i.e. Active Company Tagging Identities and Verification. Under Companies (Incorporation) Amendment Rules, 2019 MCA notifies that every […]
