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Preethi Suresh

Latest Posts by Preethi Suresh

Initial Compliances By A Private Limited Company

June 22, 2021 1620 Views 0 comment Print

1) Certificate of incorporation. 2) First board Meeting – Every company shall hold a meeting of the Board of Directors within 30 days from the date of its incorporation. 3) Bank Account – Companies need to have a bank account even before approaching the authorities for company incorporation. Subscription money needs to be deposited in […]

Annual General Meeting Through Video Conference In Private Limited

September 29, 2020 21906 Views 0 comment Print

Holding of AGM Through VC by A Private Limited Company Given the difficulties faced by the stakeholders on account of the threat posed by COVID-19, the Ministry of Corporate Affairs (MCA) have issued a circular (No.20/2020) on 5th May 2020 for allowing the conduct of Annual General meeting through video conferencing (VC) or other audiovisual means (OAVM). The Companies […]

Proportional Representation Principle for Appointment of Directors | Section 163

March 26, 2020 21639 Views 1 comment Print

Section 163 is not mandatory. It will be applicable only if the Articles Of Association (AOA) of the company gives the authority for a proportional appointment. The BOD constituted can be for a tenure of 3 years. After a span of 3 years, it has to be reconstituted. It is important to note that Section 163 is a way to constitute a BOD and not a single director and it is not a type of directors like nominee director or additional director.

All about One Person Companies (OPC)

December 13, 2019 36681 Views 1 comment Print

A One Person Company (OPC) is the latest variety of business in India projected by the companies Act, 2013. A forward-thinking plan was launched that promotes the incorporation of micro-businesses and persons with entrepreneurial concepts and to provide uplift to entrepreneurs who have high potential to start their venture by allowing them to create one […]

Restriction on Number of Directorships | Section 165

September 24, 2019 43953 Views 5 comments Print

Section 165 : Number of directorships- With an intention to make certain that directors provide bona fide attention and do justice to the position of directorship in all the companies on which they are directors, a maximum ceiling on the number of directorships has been stipulated by the government.

All about Import Export Code (IEC) registration

September 22, 2019 9840 Views 0 comment Print

Import Export (IE) Code is a registration required for persons importing or exporting goods and services from India. IE Code is issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India. Without IEC no person is allowed to export or import goods. Certain category of importers and exporters […]

Meaning of Independent Director

September 22, 2019 44874 Views 10 comments Print

An Independent Director  is a non-executive director of a company and helps the company in improving corporate credibility and governance standards. Section 149 of the Companies Act, 2013 falls under chapter XI – Appointment and Qualification of Directors. The applicable rules are Companies (Appointment & Qualification of Director) Rules, 2014.

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