Meaning of Copyright Copyright is a right given by the law to creators of literary, dramatic, musical and artistic works and producers of cinematograph films and sound recordings. In fact, it is a bundle of rights including, inter alia, rights of reproduction, communication to the public, adaptation and translation of the work. There could be […]
Among the various modifications, one of the key amendments that was brought about under the 2017 Act were the changes to Sections 185 and 186 of the 2013 Act corresponding to Sections 61 and 62 of the 2017 Act, which deals with loans to directors and loans and investments by companies and their corresponding rules.
As per Section 149(1): Every Company shall have a Board of Directors Consisting of Individuals as director. (It is clear to understand from this line that only an individual can be director of company. Some persons have doubt that other than individual can be director or not). According to this section Only AN INDIVIDUAL can […]
Issue Of Shares In Private Companies 1) Methods of issue of shares: A) Private Placement (Section 42 of the Companies Ac, 2013, Rule 14) B) Preferential allotment/Preferential offer C) Right Issue D) Conversion of Loan/Debentures into shares. E) Bonus issue A) Private Placement (Section 42 of the Companies Act, 2013, Rule 14) 1) “Private placement” […]
From the juristic point of view, a company is a legal person distinct from its members [Salomon v. Salomon and Co. Ltd. (1897) A.C 22]. This principle may be referred to as the Veil of incorporation. The courts in general consider themselves bound by this principle. The effect of this Principle is that there is a fictional veil between the company and its members.
Whenever there is a group of people it becomes very difficult to manage them properly. Each and every person has their own view, thinking and idiosyncrasies. To ensure proper rules and regulation to be maintained in the company we have Companies Act. In the Companies Act, 2013 Chapter XVI deals with the topic of “Prevention […]
Background- As per Section 62(1) of the Companies act, 2013 if the Company decides to issue fresh shares, these should be offered to existing shareholders in proportion to existing persons who are holders of equity shares. ‘Right Issue’ means offering shares to existing members in proportion to their existing share holding. The object is, of […]
Procedure For Reduction Of Share Capital Under Section 66 Read With NCLT (Procedure For Reduction Of Share Capital) Rules, 2016 i. Convene a Board Meeting to approve the reduction of share capital and fixing the date of general meeting of the company. ii. Hold the general meeting and have the Special Resolution passed. iii. File […]
PROCEDURE FOR SUBMISSION OF STAMP DUTY: A. First Company will Allot Shares. B. Company will issue Share Certificates within 60 days of Allotment of Shares. C. PREPARE DOCUMENTS: After issue of shares, Stamp duty shall be paid to the exchequer of government within 30 (Thirty) days from issue of Share Certificates. Following documents shall be […]
There may be times when you want to change the share structure of your company; either by adding a new shareholder or by changing the existing proportion of shares between shareholders. A share transfer is the process of transferring existing shares from one person to another; either by sale or gift. The securities of a […]
