Companies Act 2013 - Page 345

Transfer of Shares of Unlisted Companies

According to the Company Law, shares of a Public Limited Company are freely transferable whereas a Private Limited Company is required to restrict the right to transfer its shares by its Articles of Association (Section 2 (68) of the 2013 Act)....

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Principle of imposition of minimum penalty is non-mandatory in compounding of offenses cases: NCLT

Re. M/S UW International Training & Education Centre for Health Pvt. Ltd. (NCLT Delhi)

NCLT held that the principle of imposition of minimum penalty is non-mandatory in compounding of offenses cases, it is necessary to define and understand offense. The term offence has been defined by s 3(38) of General Clauses Act, as any act or omission made punishable by any law for the time being in force....

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Withdrawn of Application- After Admission – NCLT – INSOLVENCY CODE

Parker Hannifin India Private Limited v/s Prowess International Private Limited (NCLT Kolkata)

NCLT has cleared that once a petition is admitted by the NCLT under IBC, both the parties have no right to withdraw the petition. As it can say IBC is not a Recovery Law it is Revival Law....

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Deposits under Companies Act 2013 and Related NCLT Rules

As the financial year started, and Annual General Meeting is round the corner of some or the other Company, I would like to highlight the topic DEPOSITS. I am writing this article in regards to clear the conceptuality chaos in the minds of people regarding the Deposits so accepted by the company ...

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Registration of Charge by Companies under Companies Act, 2013

Section 2 (16) of the Companies Act, 2013 defines the word Charge as an interest or a lien created on a property or an asset of a company or any of its undertakings or both, as a security. A mortgage is also a type of Charge....

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Comparison chart on recent Exemption to Private Companies

Provision of Section 72(2) clause (a-e) shall not applicable on following Companies: 1) Which accept from its members monies not exceeding 100% percent of aggregate of the paid up share capital, free reserves and Securities Premium account; or 2) Which is a start-up, for fiv...

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Analysis of recent Exemption notification for Section 8 Company

Section 149(1) of the Act, 2013- Every company shall have a Board of Directors consisting of individuals as directors and shall have- a minimum number of three directors in the case of a public company, two directors in the case of a private company, and one director in the case of a One Person Company; and a maximum of fifteen directors...

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MCA favorably revisits exemption notification relating to private companies

The proviso to section 2(40) of Act, 2013 has been substituted to provide exemption from furnishing cash flow statement by such private companies that are recognized as start-up in accordance with DIPP notification....

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Monthly Summary of Ministry of Corporate Affairs for May, 2017

This Ministry vide Circular no. 04/2017 dated 16.05.2017 has issued a clarification that applications rejected by the Regional Director under Section 22(1) (ii) (b) of Companies Act, 1956 on the ground of expiry of limitation period cannot be reconsidered on a fresh application made under Section 16(1)(a) of the Companies Act, 2013....

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Analysis of further exemption to private limited Companies

Cash flow statement is not mandatory for private limited companies which are start –up companies. Thus, Cash flow statement will not be required for One person Company, Small Company, Dormant Company and Private limited Company (if such Company is start-up company)...

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Posted Under: Company Law |

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