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FOOD License under FSSAI – FAQs

November 21, 2021 3690 Views 1 comment Print

FAQs on  FOOD License under FSSAI 1. Who Needs FSSAI/FOOD License? Every person who is doing food business needs FSSAI/FOOD license as per the Food Safety Standard Act. 2. What is FSSAI? ♦ FSSAI stands for Food Safety and Standards Authority of India which is an organization that monitors and governs the food business in […]

FAQs on Creation, Modification, Satisfaction of Charge | Companies Act, 2013

October 8, 2021 14637 Views 3 comments Print

Q.1 What is meaning of Charge? [Sec 2 (16)] ‘Charge’ means an interest or lien created on the property or assets of a company or any of its undertakings or both as security and includes a mortgage. Q.2 Which Charges are to be registered and to be registered by whom? [Sec 77 (1) & 78] […]

Loan and Investment by Company | Section 186

July 19, 2021 7212 Views 0 comment Print

Loan and Investment by Company (FAQs)  –Updated Up-to 19/07/2021 FAQs on Section 186 of Companies Act, 2013 Q.1 What is maximum limit thorough which a company can make investment through layers of companies? [Sec 186(1)] Ans.  Company is not allowed to make investment through not more than two layers of investment companies; However, this provision […]

Internal Audit of Company (FAQs)

June 26, 2021 6717 Views 0 comment Print

Q.1 What is Internal Audit? Ans. -Internal Audit(s) is/are performed to assess and improve the effectiveness of governance, risk management, and control over critical processes. Also, it provides the board and management with information and assurance related to their duties. -Technically, Internal Audit is a cost center in a company—it does not generate revenue. However, […]

Declaration of Dividend (FAQs)

June 16, 2021 5355 Views 1 comment Print

1. What is Dividend? ♦ A dividend is a share of profits and retained earnings that a company pays out to its shareholders. When a company generates a profit and accumulates retained earnings, those earnings can be either reinvested in the business or paid out to shareholders as a dividend; ♦ However, Capitalization of Profit […]

Change in Name of Company – FAQs

May 26, 2021 2958 Views 0 comment Print

Change in Name of Company (FAQs) Updated Up-to 23/05/2021 Q.1 What are reasons for alteration of Name Clause of the Company? Ans.  -Change of Name by Shareholders (Voluntary); -Change of Name due to order of the Central Government.  Q.2 When Change in Name of Company is not allowed?  Ans. The change of name shall not […]

Issue of Bonus Shares | Section 63 | Companies Act, 2013

May 12, 2021 18414 Views 1 comment Print

1. What dose Bonus Share means? Bonus shares are additional shares given to the current shareholders without any additional cost, based upon the number of shares that a shareholder owns. These are company’s accumulated earnings which are not given out in the form of dividends, but are converted into free shares. 2. What are the […]

Removal of Names of Companies from Register of Companies-FAQs

May 7, 2021 11829 Views 1 comment Print

FAQs on Removal of Names of Companies From the Register of Companies 1. When can ROC suomoto remove the name of Company? When: – ♠ A company which has failed to commence its business within one year of its incorporation; ♠ a company which has not obtained status of dormant is not carrying on any […]

Guidelines for Appointment of Statutory Auditors of NBFCs (including HFCs)

April 29, 2021 17904 Views 2 comments Print

This article is in respect to ‘Guidelines for Appointment of Statutory Central Auditors (SCAs)/Statutory Auditors (SAs) of Commercial Banks (excluding RRBs), UCBs and NBFCs (including HFCs)’ issued by RBI vide DoS.CO.ARG/SEC.01/08.91.001/2021-22 dated 27/04/2021 The guidelines are issued for appointment/reappointment Statutory Central Auditors (SCAs)/Statutory Auditors (SAs) of Commercial Banks excluding Regional Rural Banks (RRBs); United Co-operative […]

CSR under Section 135 of Companies Act, 2013- FAQs

April 24, 2021 10416 Views 4 comments Print

FAQs FOR CSR u/s 135 of Companies Act, 2013 (Updated till 24/04/2021) 1. What is Applicability of CSR Committee and what shall be its constitution & Functions? Applicability ♦ As per Section 135 (1) every Company falling under bellow criteria in Previous Financial Year need to constitute CSR Committee: Turnover Rs. 1000 Cr or More […]

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