Company Law : Section 203 (1) read with Rule 8 of Companies (Appointment & Remuneration of managerial personnel) Rules, 2014 makes it mandatory ...
Company Law : Explanation of section 151(1) defines ‘small shareholder’ as a shareholder holding shares of nominal value of not more than tw...
Income Tax : Section 77 to 86 read with Companies (Registration of charges) Rules, 2014 deals with provisions relating to the Charges under Com...
Company Law : Related party transactions (RPT) is one of the important section in Companies Act,2013 which have been in highlight since its noti...
Company Law : The only section pertaining to the issue of debentures is section 71 (read with Rule 18 of Companies Share Capital and Debentures ...
Section 203 (1) read with Rule 8 of Companies (Appointment & Remuneration of managerial personnel) Rules, 2014 makes it mandatory for listed companies and public companies having a paid up capital of 10 crore or more to have following whole time key managerial personal –
Explanation of section 151(1) defines ‘small shareholder’ as a shareholder holding shares of nominal value of not more than twenty thousand. Here person elected by small shareholder as ‘director’ may or may not be a shareholder of a company but a person electing such ‘director’ shall be the ‘small shareholders’.
Section 77 to 86 read with Companies (Registration of charges) Rules, 2014 deals with provisions relating to the Charges under Companies Act, 2013. Section 77 exclusively talks about ‘creation of charge’. Sub-section (1) of Section 77 states that it shall be the duty of every company creating a charge within in India or outside India
Related party transactions (RPT) is one of the important section in Companies Act,2013 which have been in highlight since its notification due to its overwhelming provisions. MCA has issued many circulars and orders relating to RPT. SEBI has also amended Clause 49 for RPT’s vide CIRCULAR No. CIR/CFD/POLICY CELL/7/2014, Dated- September 15, 2014 to align it with Companies Act but there are some places where Clause 49 seems to be more stringent than Companies Act which we are going to discuss in this article.
The only section pertaining to the issue of debentures is section 71 (read with Rule 18 of Companies Share Capital and Debentures Rules,2014). I would like to share the some of important issues I came across while studying this section and corresponding rule.
The question that where to use the definition of interested director arises while reading section 174 and 184. Interestingly the term interested director is used only once in entire Companies Act and that is section 174(3) but further explanation of that sub-section provides that for the purpose of sub-section(3) interested director means a director within the meaning of section 184(2).
