Company Law : Section 447 – Punishment for Fraud: Any person who is found to be guilty of fraud- Imprisonment for a term which shall not be le...
Company Law : Section 62 of the Companies Act,2013 deals with the Further Issue of share capital to Employees under Employee Stock Options Schem...
Company Law : A company (including Private company) having a share capital can increase its subscribed capital by issue of further shares to per...
Company Law : Section 42 of the Companies Act,2013 and Rule 14 of Companies (Prospectus and Allotment of Securities) rules ,2014 deals with Priv...
Company Law : Section 134 of the Companies Act,2013 and Rule 8 & 9 of the Companies (Accounts) Rules,2014 deals with the Financial Statement and...
Section 447 – Punishment for Fraud: Any person who is found to be guilty of fraud- Imprisonment for a term which shall not be less than 6 months but which may extend to 10 years and Fine – Not be less than the amount involved in the fraud, but which may extend to three times the amount involved in the fraud. If the fraud in question involves public interest – Term of imprisonment shall not be less than 3 years
Section 62 of the Companies Act,2013 deals with the Further Issue of share capital to Employees under Employee Stock Options Scheme and to any persons on preferential basis. In my previous article (Part –I), I have discussed about the Issue of shares to the employees under Employee Stock Options Scheme (ESOS).
A company (including Private company) having a share capital can increase its subscribed capital by issue of further shares to persons who are holders of equity shares of the company in proportion to the paid up share capital on those shares, by sending a letter of offer.
Section 42 of the Companies Act,2013 and Rule 14 of Companies (Prospectus and Allotment of Securities) rules ,2014 deals with Private Placement. Private placement means any offer of securities or invitation to subscribe securities to a select group of persons by a company (other than by way of public offer) through issue of a private placement offer letter and which satisfies the conditions specified in this section.
Section 134 of the Companies Act,2013 and Rule 8 & 9 of the Companies (Accounts) Rules,2014 deals with the Financial Statement and Board Report. Signing of the Financial Statement: The financial statement, including consolidated financial statement, if any, shall be approved by the Board of Directors and shall be signed by
SEBI has received representations from market participants including companies and industry associations, highlighting certain practical difficulties in ensuring compliance, seeking clarifications on interpretation of certain provisions and suggesting various options to ease the process of implementation.
A Company shall enter into any contract or arrangement with a related party only with the consent of Board of Directors given by a resolution at a meeting of the Board and subject to conditions as prescribed under Rule 15 of the Companies (Meeting of Board and its Powers) Second Amendment Rules,2014.
Composition: The Audit Committee shall consist of a minimum of 3 directors with independent directors forming a majority. The majority of members of Audit Committee including its Chairperson shall be persons with ability to read and understand, the financial statement.
Section 151 of the Companies Act,2013 and Rule 7 of the Companies (Appointment and Qualification of Directors) Rules,2014 deals with the appointment of director elected by small shareholder.
Appointment of Additional Director, Alternate director and Nominee Director. Section 161 of the Companies Act,2013 deals with the Appointment of Additional Director, Alternate Director and Nominee Director
