The use of online rummy games, especially amongst youngsters, has erroneously increased over the time. Many queries have been received by us, by both the sects of people i.e., by the people who are playing such games and from the people who are running such mobile applications or web pages as well. Accordingly, in this […]
The basic difference between the Section 8 Company and a Private Company is that the Section 8 Company is basically a ‘not-for-profit’ organisation primarily whereas a private Company is meant to make profits. Sometimes, there may be possibilities that the management of a Section 8 Company intend to convert itself into any other Company because […]
Any existing limited Company, i.e., private or public Company, whatsoever registered under this Act or under any previous company law can apply for conversion into Section 8 Companies subject to the following conditions: • The Memorandum and Articles of Association of the existing Company has in its objects the promotion of commerce, art, science, sports, […]
The formation and regulation of Producer Company is governed under the provisions of Sections 581A to 581ZL of Companies Act, 1956, read with Companies Act, 2013, i.e., powers of the same are given under Section 465 and the rules made there under. A producer company is a Company that is incorporated under the provisions of […]
Formation of a private limited Company has its own sets of advantages and disadvantages. It is seemingly the best form of business when Directors and shareholders are closely held and where the Directors have enough funds to arrange it between themselves or their relatives or acquaintances. However, when the brand has to go really big […]
Initially, people tend to form a partnership firm as it can be easily formed with minimum compliances and cost. Then, when the business grows or any dispute arises between the partners, they generally intend to convert their existing partnership firms into a Limited Liability Partnership (LLP) in order to formalise the business. The same trend […]
We have recently discussed a lot about the incorporation, post incorporation and the requisite compliances of a Nidhi Company but in this article, we shall study about the exemptions available to Nidhi Companies from compliance of various sections of the Act and the impact of such exemptions.
In this article, we shall study about the provisions of declaration of divided applicable on the Nidhi Company as explicitly mentioned in the Nidhi Rules.
As per the provisions of Section 406(1) of the Companies Act, 2013, ‘Nidhi Company’ means a ‘company which has been incorporated as a Nidhi with the object of cultivating the habit of thrift and savings amongst its members, receiving deposits from, and lending to, its members only, for their mutual benefit’. Therefore, we can say […]
As per the provisions of the section 406(1) of the Companies Act, 2013, ‘Nidhi Company’ means a ‘company which has been incorporated as a Nidhi with the object of cultivating the habit of thrift and savings amongst its members, receiving deposits from, and lending to, its members only, for their mutual benefit’. After being incorporated […]
