Provisions of Director Identification Number (DIN) under Companies Act, 2013 1. Mandatory to have DIN for Directors Every person who proposed to be appointed as a Director in any Company shall mandatorily have DIN 2. Application for allotment of DIN Section- 153 and rule 9 of Companies (Appointment and qualification of Directors) Rules, 2014 He […]
Investor Education and Protection under Companies Act, 2013 1. Power to whom Section 125(1) CG shall have power to established a fund to be called the Investor Education and Protection Fund. 2.What types of amount to be credited to the Fund Section 125(2) and Rule 3 1. Amount given by the CG by way of […]
Article explains provision of Proxies under Section 105 of Companies Act, 2013 read with Rule 19 of the Companies (Management and Administration) Rules, 2019. Article explains appointment of proxy by Shareholdes / Members, Right of Proxies, Limits for appointment as a proxies, Penalty in case of contravention of provisions related to Proxies, Invitation to appoint […]
Article explains Manner of Rotation of Statutory Auditors under Companies (Audit and Auditors) Rules, 2014 read with Section 139 of Companies Act, 2013. A. Section 139(2) and Rule 5 of the Companies (Audit and Auditors) Rules 2014– Maximum term for appointment of auditors 1. In case of every listed company; 2. All Unlisted companies having […]
Article explains Conversion of LLP into Company under Companies Act, 2013 and explains about Companies capable of being registered Relevant Section 366, Resolution in General Meeting required to be passed Section 366(2), Rule 3(1) of the Companies (Authorized to Register) Rules 2014, Information and documents required to be filed with registrar Rule 3(2), Verification under […]
If any numbers of members or depositors or any of them is of opinion that the affairs of the company being conducted in a manner prejudicial to the interest of the company, or its members, or its depositors, they file an application to the NCLT on behalf of members, or depositors.
Prevention of Oppression and Mismanagement under the Companies Act, 2013 1. Reason of Oppression and Mismanagement Any member of the Company who complaints that- 1. the affairs of the company has been or is being conducted in a manner prejudicial to the public interest; 2. the affairs of the company has been or being conducted […]
Related Party Transactions Under Companies Act, 2013 (Section 188 and Rule 15 of Companies (Meetings of Board and its Powers) Rules, 2014. Rule 15 is related to Contract or Arrangement With a Related Party and Section 188 is related to Related Party Transactions. Who is Related Party? 2. Board Resolution Section 188(1) For entering into […]
Incorporation of Wholly Owned subsidiary Company or Subsidiary Company of Foreign Company in India 1. Foreign Subsidiary A subsidiary company of foreign Company in relation to foreign holding means a company in which a foreign holding Company- a. Control the full composition of the Board of directors or; b. Hold more than 50% of the […]
E-Voting Mechanism under Companies Act, 2013 1. Section 108 As per this section CG may prescribed the class or classes of Companies and mechanism in which members may exercise his voting by electronics means. 2. Rule 20 of Companies (Management and Administration) Rules, 2014 Applicable on which type of meeting Rule 20(1) On General meeting […]
