After commencement of Companies Act, 2013 from 01stApril 2014 compliance requirement of Companies has been increased. Therefore it’s difficult for the Private Company to continue and for peoples to incorporate new Companies. The new Company law was pain for the youth. Although it allows a single-person company to be set up, when it needs to […]
TO ANY OTHER PERSON IN WHOM DIRECTOR INTERESTED MEAN : i.Any other director of the lending company, or of the holding company of the lending company ii. Any partner or relative of such director iii. Any private company of which director is a director or member iv. Body Corporate in which 25% or more voting power rests with one or more directors
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 course, to ensure equitable distribution of Shares and the proportion of voting rights is not affected by issue of Fresh shares.
This article is intended for those companies or startups that have registered their companies outside India and want to operate in India as part of a foreign company. A company can be registered as private limited or public limited. A private limited company is a closely held company and enjoys the privileges given by the Companies Act, 2013.
As Per Section 2 (42) Foreign company is a company or body corporate incorporated outside India which (a) has a place of business in India whether by itself or through an agent, physically or through electronic mode; and (b) conduct any business activity in India in any other manner Simple definition give understanding that even […]
Shares are movable property. Its ownership can change hands. If ownership of shares goes from one person by voluntary act of parties, it is termed as Transfer of Shares. If the ownership of shares goes to another by operation of law. It is called transmission of shares. Transmission is involuntary transfer of ownership of shares […]
Under section 462 of CA, 2013 on 05/06/2015 MCA has issued exemption notification for Private Companies other than subsidiary of public companies under Companies Act, 2013 Companies Act, 2013 has brought massive changes for private companies as barring a very few, all the exemptions which were available to private companies under the Companies Act, 1956 […]
A share Certificate is a document issued by company evidencing that the person named in the certificate is owner of number shares of Company as specified in the Certificate. TIME PERIOD FOR ISSUE OF SHARE CERTIFICATES: In case of Incorporation: With in a period of 2 (Two) Month from the date of Incorporation to the subscriber of Memorandum. In case of Allotment: With in a period of 2 (Two) Month from the date of allotment of shares. In case of Transfer: With in a period of 1 (One) Month from the date of receipt of instrument of Transfer by the Company
PROCESS OF CONVERSION OF COMPANY INTO LLP A Private Company may convert into LLP in accordance with the procedure prescribed in the Third Schedule. Process as given below:
The Companies (Amendment) Bill received the assent of the President on the 25th May, 2015 and published in official Gazette of India on 26th May, 2015 and became “THE COMPANIES (AMENDMENT) ACT, 2015. This Act shall come into force on 26th May, 2015 (Date as The proposed amendments deal with related party transactions, fraud reporting by auditors, public inspection of Board resolutions, responsibilities of audit committee, restrictions on bail, making common seal optional, requirement for minimum paid-up share capital, strength of benches for hearing winding up cases, jurisdiction of special courts to try offences.
