"Gurminder Singh Dhami is a young, energetic Company Secretary with an eye for detail into the nuances of Corporate Law. A researcher at heart, he has written various articles on new Companies Act, 2013 and leads the Team in keeping abreast with the latest changes and supports in critically analyzing the implications of various provisions of the new Act. He has delivered lectures on new Companies Act. He has written various articles on Companies Act, 2013, some of which are published on prominent websites and also runs a blog. He was also a part of the Core Group on SSB of NIRC of ICSI. His research paper on Insider Trading is published with National University of Study and Research in Law, Ranchi in book titled “The Companies Act, 2013 – New Challenges in contemporary Indian Economy” (ISBN-978-818484-562-4). "
The nitty-gritty involved while resignation from the post of Director of a Company, precautions to be taken while resigning have been discussed by the author is separate articles link of which have been provided above
Under Companies Act, 1956 there was no provision governing the resignation tendered by a Director. Thus matters in dispute with respect to mandatory acceptance or approval of resignation were taken to Courts of law, wherein various pronouncements clarifying whether resignation by a Director is a unilateral or bilateral act have been made depending upon the […]
A director may resign from his office by giving a notice in writing to the company and the Board shall on receipt of such notice take note of the same and the company shall intimate the Registrar in such manner, within such time and in such form as may be prescribed and shall also place the fact of such resignation in the report of directors laid in the immediately following general meeting by the company.
The definition of Turnover as mentioned in the Companies Act, 2013 was worded in such manner that turnover includes taxes and other duties collected at the time of sale/provision of services. This issue has been addressed by the Companies Amendment Act, 2017.
Whereas, under Companies Act, 2013 this requirement has been done away with and substantial focus is towards disclosure regime. The ambit of provisions governing RPT has been increased phenomenally. After concerns of stakeholders several rounds of amendments has been made in the provisions.
Share simply put is a unit of ownership that represents an equal proportion of a company’s capital. Share has been defined in section 2(84) of Companies Act, 2013 according to which it means share in the share capital of a Company and include stocks.
India is moving towards “ease of doing business’ regime and wants to improve its current rank (134 out of 185 as per World Bank) in starting a business vis-à-vis global standards. To put a step forward in this Direction the Ministry of Corporate Affairs had come out with a Fast Track Incorporation option which shall be available for Registering a Company on speedy basis by amending Companies (Incorporation) Rules and inserting rule 36.
Ministry of Corporate Affairs has issued Notification dated June 5, 2015 by which it has provided various much awaited Exemptions to Private Companies other than the subsidiary of a public company a summary of such exemptions is as follows :-
Doing Business in Corporate form gives various advantages such as limited liability, perpetual succession, access to external finance, enhanced Credibility , management expertise and many more. A Company may be public or private. Although Companies Act, 2013 has not differentiated between both in matter of Compliances to be done but still there are certain benefits to operate via private limited company.
What’s in the name is not a very popular saying these days. When talking about a business concern particularly a Company, name is its identity and selecting a right name for your business is really important. The name may be such which reflects the business activity or it might be something simple and easy.
