The Companies Act is a legislation that governs the formation, functioning, and management of companies. Explore the key provisions, compliance requirements, and legal framework under the Companies Act.
Company Law : Learn the step-by-step process to incorporate a Private Limited Company in India, from DSC and MCA ID to name reservation and post...
Company Law : Understand Section 186 of the Companies Act, 2013, covering company loans, investments, and compliance requirements, including boa...
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Company Law : Overview of foreign company closures, active subsidiaries, job losses in the auto industry, and investment data from 2014 to 2024....
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Company Law : Govt. of India's recent measures to enhance corporate governance, prevent fraud, and ensure effective CSR practices. Insights on r...
Company Law : Discover how C-PACE accelerates the company exit process from 2 years to under 90 days, streamlining operations and reducing backl...
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REPAYMENT OF DEPOSIT: As per Section 74(1)(b) Every company which have deposit as on 1st April, 2014 or filed DPT-4 for deposits have to repay within one year from such commencement (31st March, 2015) or from the date on which such payments are due, whichever is earlier.
The procedure to close down is dealt with by section 560 of the Companies Act’1956. The sections which deal with the closure of companies under the Companies Act’2013 have not yet been notified therefore the procedure to be followed is that given in section 560 of Companies Act’1956.
Only a private company can be classified as a small company. Holding company, subsidiary company, charitable company and company governed by any Special Act cannot be classified as a small company.For a small company, both conditions to be fulfilled the paid up capital should not exceed Rs. 50 Lac or the turnover as per last statement of profit & loss should not exceed Rs. 2 Crore.
1) RESOLUTION: As per section 117 every Company shall file resolution and agreement with ROC in MGT-14 within 30 days from the date passing of such resolution. We can divide in four category of such resolution which to be file with ROC:- i) Resolution which is prescribed under section 117(3) ii) Resolution which is prescribed under section 179(3) iii) Resolution which is prescribed under Companies Rule 8(5) of (Meeting of Board and its Power) Rule,2014
A. Duties and Liabilities of an Auditor: An auditor is ‘watch dog’ not a ‘blood hound’. Like a dog should bark and chase when something found wrong. Same like that duty of auditor is to verification and detection, but he must go deep if suspicion arises.
The Companies Act 2013 makes it mandatory for corporate houses to spend 2% profit on CSR activities. The government has prepared a list of sanitized Non-Governmental Organisations (NGOs), free of any terrorist links or unwanted funding, that can undertake Corporate Social Responsibility (CSR) activities.
CS Nidhi Bothra, CS Vinita Nair Metamorphosis of Company law rules that went bad, changed a caterpillar into an ugly frog. Under the erstwhile (read outdated) system of holding general meetings where the resolutions were put to vote by way of show of hands or a poll could be demanded. Since only such members who […]
As the month of March is on its end, most of the companies which have taken loan earlier under the companies act 1956 and have filed DPT-4 in this Financial year declaring that the companies has such and such amount of deposits as on 31.03.2014, are now required to repay such loan on or before March 31, 2015 under Section 74(1)(b)
Section 74- Contrary view on Loan taken before 31.03.2014 from directors, their relatives and members of a private company including the amounts stated in (i) to(xii) of clause (b) of rule 2 of the Companies (Acceptance of Deposits) Rules,1975 on or before the commencement of companies Act,2013. In the opinion of the Author such amounts are not deposits and so are not covered by section 74 of Companies Act,2013.
A. Contravention of Provision of Section 139-146: (Attendance in General Meeting): If any provisions of this Section contravene then: Penalty on Company: The company shall be punishable with fine which shall not be less than Rs. 25,000 (Rupees twenty-five thousand) but which may extend to Rs. 5 Lac (Rupees five lac)
