About: Companies which has been incorporated on or after 2 November 2018 and having share capital must file the certificate of commencement of business to ROC (Registrar of Company) within 180 days from the date of incorporation of the company in form 20A by the director before the commencement of business or exercise its...Continue reading
Who may become a member of the company?
Subject to the Memorandum and Articles, any a person who is competent to contract except the company itself, can become a member of a company. However, it is important to note the following points about some organizations and persons: A company as a member of another company: A company is a legal person and...Continue reading
CARO 2020 VS CARO 2016
CARO 2020 Stands for Companies Auditor’s Report Order, 2020. CARO is applicable to every company including a foreign company except the following: A banking company; An insurance company; A company licensed to operate u/s 8 of the Companies Act; A-One Person Company A private limited company, not a subsidiary or holding of a public...Continue reading
The search report is related to a report based on some information and data of a particular search. It is used as a tool to examine the Company’s Records in the hands of stakeholders. Stakeholders are interested in the business activities of a company for personal advantage such as investment, loan repayment, etc. All...Continue reading
What is DIN? DIN (Director Identification Number) as the name spells it defines the identification of director. It is an 8 digit unique number that is allotted to a director, it helps in identifying a director as each unique code represents a director (whether existing or proposed). It holds all the information about the...Continue reading
In India, the majority of small businesses start as sole proprietorships. A sole proprietorship is owned, managed, and controlled by an individual. He has day-to-day responsibility for running the business. He arranges capital for the business and him solely responsible for its management. Therefore, He is entitled to the profits and has to bear...Continue reading
Intimation of Active Status of Company
About : The Government of India has launched several steps against black money, undisclosed income, Benami transactions, etc. The government of India takes one more step in these directions and forms a task force with the Ministry of Corporate Affairs(MCA), to find those companies that are only open for tax evasion which is also...Continue reading
What is DIR-3 KYC?
About KYC: KYC (Know your customer) in this the government wants to reconfirm your identity. Every director to whom the Director Identification Number (DIN) has been allotted as on 31st March of a financial year shall submit e-form DIR-3-KYC to MCA (Ministry of Corporate Affairs) on or before 30th June of immediate next financial year....Continue reading
Change in the object clause of the company
Change in the object clause of the company Object clause mentioned in Memorandum of Association of a company defines the main business activity of the company (primary object) and Activities which are necessary for conducting the main business activity (Ancillary objects) a company can change its primary object or the ancillary objects by following...Continue reading
How to Change Company Name?
About: As per the provision of section 13 of the Companies Act 2013, a company has the authority to change its name by passing a special resolution in general meeting and receiving approval from the Central Government. Change of name is a significant alteration since Memorandum of Association and Articles of Association need to...Continue reading