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Companies Act, 2013 has brought massive changes for private companies as barring a very few, all the exemptions which were available to private companies under the Companies Act, 1956 have been withdrawn in the Companies Act, 2013.
Government has received representations from stakeholders seeking certain clarifications on related party transactions covered under section 188 of the Companies Act, 2013. These representations have been examined and the following clarifications are given:
1. General Circular No. 27/2014- dated June 30, 2014. (DPT-4) -Extension of 2 month upto 31-08-2014 without any additional fee for filling statement under form DPT-4 with the Registrar in terms of Section-403. (Form- DPT-4 is relating to Deposits). (Article relating to DPT-4 filling is already issued by me)
Let me now turn your attention to the role of independent directors in a company, an issue that has become increasingly important after the Enron and the Satyam scandals. Earlier Clause 49 of the listing agreement mandates appointment of independent directors on Board of listed Companies.
CS Divesh Goyal ♣ MEANING OF PRIVATE COMPANY As per Section 2(68) “Private Company” means a company having a minimum paid-up share capital of ONE LAKH rupees or such higher paid-up share capital as may be prescribed, and which by its articles,— (i) Restricts the right to Transfer its Shares; (ii) Limits the Number […]
CS Divesh Goyal Section (1)(c) read with Sec-42 of Companies Act 2013 1. Check Provision in Article regarding Private Placement 2. Call Board Meeting: • To Prepare Offer Letter • Make Proposal for Private Placement • Prepare list of persons to whom option will be given • Call EGM 3. Call EGM: • Pass SR- […]
CS Divesh Goyal 1. To register a company, you need to first apply for a Director Identification Number (DIN) which can be obtained by filing e-Form for acquiring the DIN. Form DIR 3. 2. Acquire or register for DSC and register yourself as a user in the relevant user category, such as registered and business […]
CS Divesh Goyal INCREASE IN AUTHORIZE CAPITAL GOVERN BY SECTION 61. PROCEDURE First check is there any provision in AOA regarding increase in capital, if there is provision in Article then it’s ok, But If there is no provision in AOA then first Alter AOA. Hold a Board Meeting – To Get approval of Directors […]
CS Divesh Goyal Sec- 76 of Companies Act 2013 1. Call Board Meeting: To pass resolution for acceptance of deposit from members Approve Draft DPT-1 (Circular) Appoint a Trustee Call General Meeting Authorize Director or Secretary for further process 2. Call General Meeting Pass Ordinary Resolution for acceptance of deposit, if deposit with in limit […]
ACS Divesh Goyal 1. Call Board Meeting: • To pass resolution for acceptance of deposit from members • Approve Draft DPT-1 (Circular) • Appoint a Trustee • Call General Meeting • Authorize Director or Secretary for further process 2. Call General Meeting
