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Checklist to change registered address of company from one state to another

Checklist/Guidelines for change of registered address of the company from one state to another Applicable Sections under Companies Act 2013 – Section 4 (Memorandum), Section 12 (Registered Office of the Company) Section 13 (Alteration of Memorandum of Association) Applicable Rule under Companies (Incorporation) Rules, 2014 – Rule 30 (...

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Posted Under: Company Law |

Compounding of offences under Companies Act 2013 | Section 441

Defaults under the Companies Act, 2013 provides for certain liabilities and the registrar of a company has powers to initiate prosecution against the company and its directors and other officers in accordance with the provisions of the law. When a provision has been violated or a default or delay has occurred, the directors may, instead [...

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Posted Under: Company Law |

FORM INC20A : Truly a Business Commencement

Under the erstwhile Companies Act, 1956, a Private Limited Company could start its business immediately upon receipt of a Certificate of Incorporation from the concerned Registrar of Companies. However Public Companies were required to obtain a Business Commencement Certificate before commencement of business pursuant to Section 149 of th...

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Posted Under: Company Law |

Convert Public company into a Private Company

Article explains Applicable provision for Conversion of a Public Limited Company into a Private Limited, E-Forms for Conversion of a Public Limited Company into a Private Limited, Procedure for Conversion of a Public Limited Company into a Private Limited and Steps to be taken after Conversion of a Public Limited Company into a Private Li...

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Posted Under: Company Law |

All about Independent Director under Companies Act 2013 with FAQs

Section 149 and Section 150 of Companies Act, 2013 read with Chapter XI The Companies (Appointment and Qualifications of Directors) Rules, 2014 Independent Director: ‘independent director’ means an independent director referred to in sub-section (6) of section 149 (Annexure A of this Article). Applicability:  1. Listed Compa...

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Posted Under: Company Law |

Online Proficiency Self Assessment Test for Independent Directors

Every individual who is already an Independent director and who intends to be appointed as independent director shall compulsorily pass Online Proficiency Self Assessment Test conducted by the IICA within a period of 1 (one) year from the date of registration. Detailed Provisions 1. Application for registration: Every individual who is al...

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Posted Under: Company Law |

Analysis on Internal Financial Control under Companies Act 2013

ANALYSIS OF VARIOUS ASPECTS INTERNAL FINANCIAL CONTROL UNDER COMPANIES ACT, 2013 There are various Statutory Provisions under the Companies Act 2013 (the Act) which govern ‘Internal Financial Control’ in the Company. Relevant provisions of the Act, for the applicability of Internal Financial Control is reproduced as under: 1. ...

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Posted Under: Company Law |

OPC Vs Sole Proprietorship Which One Is Better For You….?

If you as an existing or aspiring entrepreneur would like to decide whether to switch to OPC structure or not then this article will surely guide you the path....

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Posted Under: Company Law |

A Critical Analysis of “Shell Company”- Part 2

The term Shell companies generally refer to limited liability companies and other business entities with no significant assets or ongoing businesses activities. Shell companies typically have no physical presence other than mailing addresses, employs no one, and produces little to or no independent economic values....

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Posted Under: Company Law |

Procedure for Private Placement of Non Convertible Debentures (NCDs)

Procedure for Private Placement of Non Convertible Debentures (NCDs) under Companies Act, 2013 This procedure is to be followed in case the issue will be within the borrowing limit of the Company as prescribed under Section 180(1)(C) of the Companies Act, 2013. Sr. No. Particulars What to do Timeline Documents/ Forms 1. Point to be [&hell...

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Posted Under: Company Law |