Startup India is a flagship initiative of the Government of India, intended to build a strong ecosystem that is conducive for the growth of startup businesses, to drive sustainable economic growth and generate large scale employment opportunities.
Section 55(2) of the Companies Act 2013 states that a company limited by shares may as per the authorisation by its articles, issue preference shares which are liable to be redeemed within a period not exceeding twenty years from the date of their issue subject to such conditions as may be prescribed. A company engaged […]
ACTION TO BE TAKEN IN CASE OF NON-COMPLIANCES BY LISTED COMPANIES Regulation : Fine payable and/or other action to be taken for non-compliance in respect of listed entity Regulation 6(1): Rs. 1,000 per day for non-compliance with requirement to appoint a qualified company secretary as the compliance officer Regulation 7(1): Rs. 1,000 per day for […]
Only a company limited by shares can issue equity shares with differential rights as to dividend, voting or otherwise. Such company has to comply with certain conditions.The company shall not convert its existing equity share capital with voting rights into equity share capital carrying differential voting rights and viceversa. The Board of Directors are required […]
COMPANY LAW SERIES CHAPTER 3 ISSUE OF EQUITY SHARES WITH DIFFERENTIAL VOTING RIGHTS While Section 43 enables companies to issue equity shares with differential rights as to dividend, voting rights etc. Rule 4 of Companies (Share Capital and Debentures) Rules, 2014 states the following conditions regarding shares with differential voting rights. Conditions for issuing shares […]
The Steps for incorporating a Section 8 company are as under: (1) The promoter of the proposed entity will apply to the Ministry of Corporate Affairs for reservation of name in Form (2) Once name is reserved, an application will be made for obtaining licence in Form No. INC 12. The application shall be accompanied […]
COMPANY LAW SERIES CHAPTER 2 (CONTINUE…..) STEPS FOR THE INCORPORATION OF FOREIGN COMPANY As per section 2(42), ‘foreign company’ means any company or body corporate incorporated outside India which— has a place of business in India whether by itself or through an agent, physically or through electronic mode; and conducts any business activity in India […]
COMPANY LAW SERIES CHAPTER 2 STEPS FOR INCORPORATION OF PUBLIC, PRIVATE COMPANIES, AND ONE PERSON COMPANY To register a private limited company, a minimum of two adult persons are required to act as Directors of the company. A private limited company must have a minimum of 2 Directors and can have a maximum of 15 […]
Applicability of Companies Act, 2013 ♠ According to section 1 of the Companies Act, 2013, the Act extends to whole of India and the provisions of the Companies Act shall apply to the following:- ♠ Companies incorporated under this Act or under any previous company law; ♠ Banking companies, except in so far as the […]
The power to issue debentures can be exercised on behalf of the Company as a meeting of the Board under the provisions of Section 179 (3) of the Companies Act, 2013. Along with Rule 18 of the Companies (Share Capital and Debentures) Rules, 2014 The power to issue debentures can be exercised on behalf of […]
