CS Deepak Pratap Singh articles

Letters of Credit (LC): Basic Concepts – Part II

In this article we are going to discuss utilisation of Letters of Credit and its advantages / disadvantages; UTILISATION OF LETTERS OF CREDIT; there are various stages from shipment of goods and / or provisions of services till the payment received by the seller / beneficiary;...

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Posted Under: Finance |

Letters of Credit (LC): Basic Concepts – Part I

A letter of credit is a letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. In the event that the buyer is unable to make payment on the purchase, the bank will be required to cover the full or remaining amount of the purchase. ...

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Posted Under: Finance |

Foreign Venture Capital Investors And Related Regulations

Venture Capital is a type of seed funding in which investment is made at the initial growing stage of ventures. It is a financing to small and start-up ventures, which has high risk and potential to develop near future. The Venture Capital Investors are generally put their funds in those companies, which are with new ideas, innovations an...

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Posted Under: Finance |

Benami Transaction and Sham Transactions

Prohibition of Benami Property Transactions Act, 1988, an act promulgated to prevent and prohibit Benami transactions in India on 5th September, 1988. The Act, 1988 has only 9 Sections and not so effective, while preventing and prohibiting Benami Transactions. The Act, 1988 previously called The Benami Transactions (Prohibition) Act, 1988...

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Posted Under: Finance |

Drag Along And Tag Along Rights Under Shareholders Agreement

As we know in private limited and closely held public limited companies, there are restrictions on transfer of shares. When an entrepreneur starts a venture or business with new ideas or new invention, he needs finance....

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Posted Under: Finance |

Obligation to Furnish Statement of Financial Transaction (SFT) or Reportable Account Under Provisions of Section 285BA of the Income Tax Act, 1961

The person required to furnish details in the Form 61A according to the provisions of Rule 114E, the same shall be furnished to the Director of Income Tax (Intelligence and Criminal Investigation) or the Joint director of Income Tax (Intelligence and Criminal Investigation) through online....

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Posted Under: Finance |

Assesement of Partners of Limited Liability Partnership

Limited Liability Partnerships are one of the most preferred business structures for service sector and for small and medium enterprises. Limited Liability Partnership concept of business structures are preferably used in UAS, UK, Canada, Japan and various other countries....

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Posted Under: Finance |

Resolution Passed by Unanimous Consent of Directors

The Provisions of Section 175 of the Companies Act, 2013 empowers the Board to pass some resolutions by Circulation by complying with provisions of this section and the rule made there under....

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Posted Under: Finance |

Joint Shareholding under Companies Act, 2013

When a person holds one or more shares jointly with one or more person(s) in a Company, he/she is called Joint shareholder. Since a Joint Shareholder is different person, but in relation to private limited companies, joint shareholders are considered as a member....

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Posted Under: Finance |

Removal of Director Under Provisions of Companies Act, 2013

A Company is governed by its Board of Directors and the Board of Directors are consist of Directors, who are human beings. Section 149 of the Companies Act, 2013 provides that every company registered under the Act, must have a Board of Directors consisting as individuals as directors....

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Posted Under: Finance |

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