The Companies Act 2013 is a crucial legislation in India governing the incorporation, functioning, and management of companies. Learn about the key provisions, compliance requirements, and legal framework under the Companies Act 2013.
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Consequent to the notification no. S.O. 1935 (E) dated 1.6.2016 issued by the Central Government, Ministry of Company Affairs following criteria has been laid down for listing of the matters before the National Company Law Tribunal, Principal Bench and National Company Law Tribunal, New Delhi Bench.
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] Government of India Ministry of Corporate Affairs Notification. New Delhi, dated, the 29th June, 2016 G.S.R. 639(E). – In exercise of the powers conferred by sections 73 and 76 read with subsection (1) of section 469 of the Companies Act, […]
Determining obligations and privileges under the Companies Act, 2013 is a significant but tedious task and in this articles we have made an attempt to explain in easy manner Criteria based obligations and privileges under Companies Act, 2013.
Debenture: The word ‘debenture’has been derived from a Latin word ‘debere’ which means to borrow. Debenture is a written instrument acknowledging a debt to the Company. It contains a contract for repayment of principal after a specified period or at intervals or at the option of the company and for payment of interest at a fixed rate payable usually either half-yearly or yearly on fixed dates.
As I have already discussed the provisions relating to Debentures in my earlier article series. In this article I will share the complete process of issue of debenture under Companies Act 2013. Work required to done before calling of Meeting: Identify the person to whom you will issue Debentures. Prepare the list of such persons to whom offer to subscribe debenture will give. Prepare Draft offer letter under PAS-4. Identify the debenture trustee (in case of offer for subscription is for more than 500 persons). If there is requirement to appoint Debenture Trustee, then obtain the consent of such debenture trustee. Ask the details from the Bank to open separate Bank Account.
Transfer of Shares: The price as applicable to transfer of shares from resident to non-resident as per the pricing guidelines laid down by the Reserve Bank from time to time, where the issue of shares is on preferential allotment Retention of Amount in Foreign Currency Account : Indian companies which are eligible to issue shares […]
BACKGROUND: If Promoters are starting a business (Company) or trying to grow an existing business (Company), all certainly will need money. This money can come from various sources. Source of Funding: Roughly speaking, Investments break down into two different forms: Debt and Equity. Debt Funding: Debt means money borrowed from lenders by the company and it pay the interest on that investment. Companies are required to repay the money with interest over time.
It is not mandatory to reappoint the retiring auditor even if 3 things stipulated in sub-section (9) are not attracted. The board of director may recommend any person other than retiring auditor for appointment as statutory auditor of the Company at the time of completion of term of existing auditor of the Company.
Definition: As stated in section 2(16) “charge” means an interest or lien created on the property or assets of a company or any of its undertakings or both as security and includes a mortgage
Section 4(1)(a): The name of the company with the last word “Limited” in the case of a public limited company, or the last words “Private Limited” in the case of a private limited company. Name should not be undesirable. Guidelines in relation to approval of name discussed separately in earlier article.
