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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Suyog S Kabra Checklist For Meetings Of Directors Or Committees under Companies Act, 2013 [Note : Adherence by a company to Secretarial Standards with respect to General an board meetings specified by Institute of Company Secretaries of India and approved as such by the Central Government is mandatory, as per the provisions of sub section […]
The company has allotted shares/debentures and entered the names of allottees in the register of members/ debenture holders. (Note – where register and index of beneficial owners is maintained with depository, it shall be deemed to be corresponding register of members)
The preference shares shall be liable to be redeemed within a period not exceeding twenty years. A company engaged in the setting up and dealing with or infrastructure projects may issue preference shares for a period not exceeding thirty years, subject to the redemption of a minimum of ten percent of such preference shares per year from twenty first year onwards or earlier, on proportionate basis, at the option of the preference shareholders.
An issue of secured debentures may be made, project the date of its redemption does not exceed ten years from the date of issue. A company engaged in the setting up infrastructure projects may issue secured debentures for a period exceeding ten years but not exceeding thirty years (Rule 18 companies (Share Capital and Debentures) Rules 2014
The taxonomy for the Commercial and Industrial Companies have undergone a change owing to the requirements under the Companies Act 2013, and the rules notified thereunder. Accordingly, the Taxonomy Development and Review Committee of XBRL India has finalised the draft taxonomy for Commercial and Industrial Companies based on the notification of the sections under Companies Act 2013, new rules and forms thereunder.
You would be glad to know that that the long awaited Notification to exempt private companies under section 462 of the Companies Act 2013 has been recently issued by the Ministry of Corporate Affairs. ICAI has highlighted need for a clarification in this regard on various occasions. There was no apparent need to put a cap on the number of audit of small and medium companies.
1. The company has made necessary arrangements to avoid failure of video or audio visual connection. 2. Sufficient security and identification procedures were ensured to safeguard the integrity of the meeting by the Company Secretary/ Chairman
1. To ensure that person to whom offer has been made does not exceed 200 in a financial year for each kind of security. It is to be noted that any offer or investigation made to qualified institutional buyers or to employees of the company under scheme of employee stock option shall not be considered while calculating the limit of two hundred people.
Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life. The depreciable amount of an asset is the cost of an asset or other amount substituted for cost, less its residual value. The useful life of an asset is the period over which an asset is expected to be available for use by an entity.
Without causing harm to anything contained in this section, if an auditor of a company, in the course of the performance of his duties as auditor, has reason to believe that an offence involving fraud is being or has been committed against the company by officers or employees of the company, he shall immediately report the matter to the Central Government within such time and in such manner as may be prescribed.
