INDEPENDENT DIRECTOR REGISTRATION Statutory Provision As per Rule 6 of Companies [Appointment and Qualification of Directors] Rules 2014, Every independent director shall within 13 months form the date of commencement of the Companies [Appointment and Qualification of Directors] fifth amendment Rules 2019 ie. 1st December 2019 or a person who intends to get appointed as […]
INTRODUCTION Annual return is the significant document which is required to be filed by the every company with Registrar of Companies [ROC]. Annual return shall be prepared in the prescribed form ie. Form MGT-7 and it containing information like details regarding registered office, principal business activities, shares debentures and other securities and shareholding pattern, details […]
Article explains Statutory provisions in relation to payment of managerial remuneration, Certain items excluded from calculation of managerial remuneration, Calculation of Net profit and Managerial Remuneration in case of loss or inadequacy of profits. Statutory provisions in relation to payment of managerial remuneration According to the provisions of Section 197 of the Companies Act 2013 […]
According to the provisions of Section 55 of the Companies Act 2013 a company limited by shares, if authorized by the Articles of Association [AOA] of the company may issue preference shares which are liable to be redeemed within 20 years from the date of their issue. No company shall be allowed to issue irredeemable preference shares.
