Company Law : Learn about Alteration of Share Capital: types, process, and its significance under the Companies Act of 2013. Understand how comp...
Income Tax : Unlock the complexities of Income Tax on Shares in this comprehensive guide. Explore classifications, Capital Gains, PGBP, and nav...
Company Law : Authorized share capital of the company is the maximum permissible limit set by the shareholders of the Company that allows the Co...
Finance : Uncover the findings of Hindenburg Research's 2-year investigation, alleging Adani Groups stock manipulation and accounting fraud ...
Finance : Explore the impact of Adani Groups sustainable practices on its financial performance. Learn about its comprehensive business mode...
Income Tax : As regards shares and other securities, the same can be held either as capital asset or stock-in-trade / trading asset or both. Ho...
SEBI : Forfeiture of shares is a process specified under Table-F (Articles of Association of a Company Limited by Shares) of Schedule I o...
Finance : Share of Money Matters Financial Services today nosedived by 20 per cent, hitting a lower circuit on BSE, on allegations that the ...
Company Law : To prevent misuse of class action suits, the new Companies Act may specify a minimum number of shareholders or creditors of compan...
Company Law, Finance : Come September, the incorporation of companies or various regulatory filings will not be a cumbersome and time-taking exercise any...
Income Tax : Delhi High Court held that benefit of deduction under section 80IC of the Income Tax Act available even in case of addition of uns...
Income Tax : ITAT Kolkata held that it is unjustified to assess share capital and share premium as unexplained cash credit u/s. 68 merely for h...
Company Law : Brillio Technologies Pvt. Ltd. Vs Registrar of Companies (NCLAT Delhi) NCLAT that the NCLT has erroneously held that the Applicati...
Income Tax : AO was duty bound to provide opportunity of cross-examination of witness, if he relied on statement of such witness to decide agai...
Income Tax : The issue under consideration is Unlisted shares sold after holding for 23 months considered as Long Term Capital Gains or Short T...
SEBI : Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Amendment) Regulations, 2009 - Amendment in...
SEBI : The Securities and Exchange Board of India (SEBI) vide circular ref. no. MRD/DoP/Cir-05/2007 dated April 27, 2007 made PAN the sol...
SEBI : Every member, who is directly or indirectly interested in any matter coming up for consideration at a meeting of the Committee, s...
Company Law : Notification of change in COMPANIES (APPOINTMENT AND QUALIFICATIONS OF SECRETARY) RULES to increase the present limit of paid-up c...
Company Law : he application should be addressed to The Secretary, Department Of Company Affairs, of the Jurisdiction in which you are falling. ...
2) Period for which the issue may remain OPEN:Rights offer shall be made by Notice specifying the number of shares offered and limiting a time not being less than 15 days from the date of the offer within which the offer, if not accepted, will be deemed to have been declined {Section 81(1)(b)}.
Section 77 essentially states that no company limited by shares, and no company limited by guarantee and having a share capital, shall have power to buy its own shares, unless the consequent reduction of capital is effected and sanctioned in pursuance of sections 100 to 104 or of section 402. Section 77(2) then furthers the objective of Section 77 (1) by providing that a company cannot give financial assistance for the purchase of its shares. This is to ensure, at least, that those who buy shares in companies do so from their own resources and not from those of the company.
Conversion of Firm under Part IX of the Companies Act, 1956 :- The firm may be converted into a company by following the provisions of Part IX of the Companies Act, 1956. Sections 565 to 581 deal with conversion of firms into a company under the Companies Act, 1956.
Explore C.P. No.11(111)/ERB of 1998 as Company Law Board delves into allegations, balancesheets, and share issues. Understand the final order on ultra vires claims.
If all speculative transactions will be claimed as hedging transactions, very purpose behind the provisions of section 73 not permitting set off of speculative loss against business income will become redundant.
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
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 Companies Bill, 2009, which is now before the Parliamentary Standing Committee on Finance.
The assessee was engaged in the business of real estate development. It held land as stock in trade with a book value of Rs. 4.4 crs. The said land was introduced at its market value of Rs. 11.50 crs as capital contribution into a new firm. The surplus of Rs. 6.01 crore was credited to the profit and loss account. Relying on Hind Construction 83 ITR 211 (SC), it was claimed that the surplus of Rs. 6.01 crs was not liable to tax as the introduction of an asset into a partnership was not a sale.
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.
It is well established position that Articles of a Company are constituent document and are binding on the Company and its Directors. As aforesaid, the intention of Article 57 is that the share capital of the Company remains within the close knit group and nothing more. On the plain language of the said provision and the intent behind it, the regime of Article 57 has no application to transfer of shares between member to member of the Company interest. There is force in the argument of the Respondents that from the contemporaneous situation, it would appear that all cap
