Bunch of writ petitions have been filed by persons who were directors in companies incorporated under the provisions of the Indian Companies Act, 1956. Apart from these companies, these petitioners have stated in the writ petitions that they were directors of other companies as well and such companies are active.
In this flash editorial author shall through some light on the provisions of Conversion of Loan into Equity Share Capital of the Company as per provisiosn of Companies Act, 2013 and recent NCLT Judgement on the same.
In this flash editorial author discusses the provisions of liability of directors after strike off of Company or winding up of Company by tribunal after Struck off in the record of Registrar of Companies.
MCA has notified below mentioned 41 sections of Companies Amendment Act, 2017 w.e.f. 9th February, 2018 vide its notification dated 09th February 2018.
In this editorial the author shall discuss the some queries raised by professionals and Corporates / Key Effects in relation to Condonation of Delay Scheme, 2018. More than one month has been passed when the scheme notified by the MCA. However, still there are many issues are unanswered under this scheme:
In this Flash editorial, the author begins by referring the provisions of Removal of Disqualification of Director. While, MCA has issued Condonation of Delay scheme, 2018 as an opportunity to Disqualified Directors to remove their Disqualification.
There is no legal distinction between the powers and duties of executive directors and non-executive directors, the two play different roles on a board of directors. Even u/s 166 of Companies Act, 2013 duties of directors are prescribed which are equal for both executive and non-executive Director.
Any Company which intended to make any change to the Memorandum of Association (MOA) of its company, will have to comply with the provisions of Section- 13 of Companies Act, 2013 and any other applicable provisions of the Act and applicable rules.
MCA issued Companies (Incorporation) Amendment, Rules, 2018 vide notification dated 20.01.2018 these rules are effective from 26th January, 2018. By these amendment Rules MCA has substituted Rule 9 of Companies (Incorporation) Rules, 2014.
In this Flash editorial, the author begins by referring the Quick Questions on Condonation of Delay Scheme 2018 in relation to Active Companies or Struck off Companies Both. Condonation of Delay Scheme, 2018 is an Opportunity Scheme for the Disqualified Director to remove their disqualification, which occur due to non filing of Financial Statements & Annual Returns.
