In accordance with the section 406(1) of the Companies Act, 2013, ‘Nidhi’ 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 that a […]
Section 149(1) of the Companies Act, 2013 requires that every Company shall have a minimum number of 3 directors in the case of a public company, 2 directors in the case of a private company, and 1 director in the case of a One Person Company. A Company can appoint maximum 15 fifteen directors however; it may appoint more than fifteen directors after passing a special resolution in general meeting.
The Registrar of Companies (ROC) in September, 2017, 2018 and now in 2019 took an outrageous step and struck off many Companies who had not done their filing for a period of two financial years or more believing that the Companies are not doing any business in accordance with Section 248 (2) of the Companies […]
China represents a competitive and appealing country on an international scale from an investment point of view, and a major force of the worldwide economy. Being a stable business partner in many fields of interest, China is recognized as a fast-growing economy and a global influence, with connections to powerful financial centers. China attracts investors from abroad to place their […]
In accordance with the Overseas Direct Investment data issued by the Reserve Bank of India, it can be presumed that Singapore is the top destination preferred by Indians for investment. All the Companies in Singapore are registered with Accounting & Corporate Regulatory Authority i.e. ACRA (similar to Ministry of Corporate Authority here in India) and […]
The Registrar of Companies (ROC) of various states took an outrageous step and struck off many Companies who had not done their filing for a period of two financial years believing that such Companies are not doing any business in accordance with Section 248 (2) of the Companies Act, 2013 and consequently, disqualified their Directors […]
The registered office of an Limited Liability Partnership (LLP) is the official address of the principal place of business of the entity for all the official communications and notice. Further, it is mandatory for an LLP to maintain books of accounts at its registered office. There might be a situation when the LLP intends to […]
Nidhi Company means a Company which has been incorporated as a Nidhi with the object of cultivating the habit of thrift and saving amongst its members, receiving deposits from, and lending to, its members only, for their mutual benefit. The provisions of the Companies Act, 2013 places various restrictions on acceptance of deposits by Companies […]
There are a lot of Companies who has surplus profits and intends to capitalize such profits by issue of bonus shares. Bonus shares are basically gift to the shareholders in the ratio of shares already owned by them. These are a free share of stock given to the existing shareholders in a Company, based upon […]
The banks and Non-Banking Financial Institutions form a strong backbone of our economy however, they are still not in reach of people requiring funds specially those of living in rural areas or are lack of requisite documentation like Income Tax return and the like. Therefore, the Government of India came up with the concept of […]
