1. TO TAKE NOTE OF KEY MANAGERIAL PERSONNEL (KMP) OF THE COMPANY UNDER SECTION 203 OF THE COMPANIES ACT, 2013:- The Chairperson informed the Board pursuant to provision of Section 2(51) & Section 203 read with rule made there under and other applicable provisions of the Companies Act, 2013 there is need to designate Company Secretary Mr. —————– as Key Managerial Personnel.
Procedure & Requirement Of Appointment Of Managing Director (MD) For Private Limited Company. Appointment of Managing Director, Whole- Time Director OR Manager (Section: 196):
CS Divesh Goyal SPECIALLY FOR FIRST BOARD MEETING OF PRIVATE COMPANIES As per New Company Law, gap between two board meetings can’t exceed 120 Days. If last board meeting of company was held on 31st March 2014 then next board meeting can be held upto 28th July, 2014 (April 30 days + May 31 Days […]
1. PROCEDURE FOR ALLOTMENT OF RIGHT ISSUE OF SHARES: ♣ Call a Board meeting by issue notice of meeting. (Draft Format Attached) ♣ Approve right issue including “letter of offer”, which shall include right of renunciation also.(At Board Meeting). (Draft Format Attached) ♣ Send offer letter to all existing members as on the date of offer.(Through registered post or speed post or through electronic mode to all the existing share -holders at least three days before the opening of the issue.)
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a very few, all the exemptions which were available to private companies under the Companies Act, 1956 have been withdrawn in the Companies Act, 2013.
Government has received representations from stakeholders seeking certain clarifications on related party transactions covered under section 188 of the Companies Act, 2013. These representations have been examined and the following clarifications are given:
1. General Circular No. 27/2014- dated June 30, 2014. (DPT-4) -Extension of 2 month upto 31-08-2014 without any additional fee for filling statement under form DPT-4 with the Registrar in terms of Section-403. (Form- DPT-4 is relating to Deposits). (Article relating to DPT-4 filling is already issued by me)
Let me now turn your attention to the role of independent directors in a company, an issue that has become increasingly important after the Enron and the Satyam scandals. Earlier Clause 49 of the listing agreement mandates appointment of independent directors on Board of listed Companies.
CS Divesh Goyal ♣ MEANING OF PRIVATE COMPANY As per Section 2(68) “Private Company” means a company having a minimum paid-up share capital of ONE LAKH rupees or such higher paid-up share capital as may be prescribed, and which by its articles,— (i) Restricts the right to Transfer its Shares; (ii) Limits the Number […]
CS Divesh Goyal Section (1)(c) read with Sec-42 of Companies Act 2013 1. Check Provision in Article regarding Private Placement 2. Call Board Meeting: • To Prepare Offer Letter • Make Proposal for Private Placement • Prepare list of persons to whom option will be given • Call EGM 3. Call EGM: • Pass SR- […]
