Company Law - According to Section 2(68) of the Companies Act, 2013, Authorized share capital of the Company means maximum amount of share capital of the company as authorized by memorandum of the company. This means that issued or paid up capital of the company cannot go beyond its authorized share capital. It may happen that in some […]...
Read MoreCompany Law - Preference shares commonly known as preferred stocks are the kind of shares that hold certain prior benefits. Preference shares are released to rise capital of the company which is known as preference share capital. The preference share holders are given preferential treatment is respect of payment of dividend. They are having priority ...
Read MoreCompany Law - आज के नये दौर में, नई तर्ज पर, नये और युवा निवेशक उभरती हुई टेक कंपनी में निवेश के प्रति काफी आकर्षित हो रहे हैं. इनके लिए कंपनी के बि...
Read MoreCompany Law - Investing in stocks has always been a matter of fear for us since we have been always taught stock market as speculation. However, times have changed now, with the outrage of social media and internet, people are becoming more and more aware of the financial literacy in India. Any stock can be analyzed on many […]...
Read MoreCompany Law - In the recent past, a few companies like Syngenta India Limited, Atlas Copco, etc. have, after their delisting from the stock exchanges, followed the Sec 66 of Companies Act, 2013 route to selectively reduce their non-promoter capital and provide a means of exit to minority shareholders.[1] Sec 66 allows a company to distinguish between s...
Read MoreCompany Law - As regards shares and other securities, the same can be held either as capital asset or stock-in-trade / trading asset or both. However, the Act does not contain any specific guidelines as to the characterisation of any particular investment as capital asset or stock-in-trade / trading asset. While this characterisation is essentially a f...
Read MoreCompany Law - Forfeiture of shares is a process specified under Table-F (Articles of Association of a Company Limited by Shares) of Schedule I of the Companies Act, 2013. The standard procedure to be followed in case of forfeiture of partly paid-up shares is as follows:...
Read MoreCompany Law - Share of Money Matters Financial Services today nosedived by 20 per cent, hitting a lower circuit on BSE, on allegations that the firm bribed senior officials of public sector financial institutions for procuring loans for corporates. The Mumbai-base...
Read MoreCompany Law - To prevent misuse of class action suits, the new Companies Act may specify a minimum number of shareholders or creditors of companies for exercising the right to file such cases, the Corporate Affairs Minister, Mr Salman Khurshid, has said. This is a major change from the current position on class action suits as mentioned in the Companie...
Read MoreCompany Law - Come September, the incorporation of companies or various regulatory filings will not be a cumbersome and time-taking exercise anymore. The government is going to start e-stamp facility that would allow corporates to deposit stamp duty electronically. From September 12, stamp duty for various instruments including Memorandum of Associatio...
Read MoreBrillio Technologies Pvt. Ltd. Vs Registrar of Companies (NCLAT Delhi) - Brillio Technologies Pvt. Ltd. Vs Registrar of Companies (NCLAT Delhi) NCLAT that the NCLT has erroneously held that the Application for reduction of share is not maintainable under Section 66 of the Act, consent affidavits from the creditors is mandatory for reduction of share capital, SPA cannot b...
Read MoreACIT Vs El Dorado Biotech Pvt. Ltd. (ITAT Ahmedabad) - AO was duty bound to provide opportunity of cross-examination of witness, if he relied on statement of such witness to decide against assessee, particularly when it was demanded by assessee. Illegality crept in, the moment request for cross-examination was denied....
Read MoreMrs. Neelu Analjit Singh Vs The Addl. Commissioner of Income tax (ITAT Delhi) - The issue under consideration is Unlisted shares sold after holding for 23 months considered as Long Term Capital Gains or Short Term Capital Gains?...
Read MoreM/s Janani Infrastructure Pvt. Ltd. Vs ACIT (ITAT Banglore) - M/s Janani Infrastructure Pvt. Ltd. Vs ACIT (ITAT Banglore) We have held that the sole basis of reopening of the assessment is the information received from the CBI. It is an undisputed fact that AO did not supply those materials to the assessee and also did not confront them with the assessee. Henc...
Read MoreM/s. Subhalakshmi Vanijya Pvt. Ltd. Vs CIT (ITAT Kolkata) - In these cases there are 18 different assessees who filed appeal before ITAT aggrieved from the order u/s 263 passed by CITs. In original proceedings AO passed orders with nominal additions after investigation by way of summoning various subscribers to share capital of assessee companies....
Read MoreNotification No LAD-NRO/GN/2009- 10/23/186926 - (11/12/2009) - Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Amendment) Regulations, 2009 - Amendment in regulations 2,10,29,42,50, 96,98, Schedules VIII, XI and insertion of regulation 55A....
Read MoreNotification No. MRD/DoP/ Cir-05/2009 - (20/05/2009) - The Securities and Exchange Board of India (SEBI) vide circular ref. no. MRD/DoP/Cir-05/2007 dated April 27, 2007 made PAN the sole identification number for all participants transacting in the securities market, irrespective of the amount of such transaction. ...
Read MoreNotification No. LAD-NRO/GN/2009-10/05/163525 - (19/05/2009) - Every member, who is directly or indirectly interested in any matter coming up for consideration at a meeting of the Committee, shall disclose the nature of his interest at such meeting and such disclosure shall be recorded in the proceedings of the meeting of the Committee and such member shall no...
Read MoreNotification No. G.S.R. 11(E) - (05/01/2009) - Notification of change in COMPANIES (APPOINTMENT AND QUALIFICATIONS OF SECRETARY) RULES to increase the present limit of paid-up capital of Rs.2 Crore to Rs. 5 Crore for appointment of full time Company Secretary w.e.f.15/03/ 2009....
Read MoreNotification No. G.S.R. 501(E) - (06/07/1999) - he application should be addressed to The Secretary, Department Of Company Affairs, of the Jurisdiction in which you are falling. Application should be submitted along with the prescribed fee by demand draft drawn in favour of Pay & Accounts Officer, Department of Company Affairs, of the Jurisdictio...
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Brillio Technologies Pvt. Ltd. Vs Registrar of Companies (NCLAT Delhi) -