Creation of Charge: When a company borrows money the lender asks for securities. The lender may be a Bank or a Company or even a Body Corporate. Whenever any security is given to obtain a loan a charge is created in favor of the lender. The loan may be borrowed by one charge holder...
Continue readingLIMITED LIABILITY PARTNERSHIP – 2008
About: The Limited Liability Partnership Act, 2008 was enacted by the Parliament of India. Limited Liability Partnership Act, 2008 is a body corporate and legal entity separate from its partners, have perpetual succession and any change in the partners of a Limited Liability Partnership shall not affect the existence, rights, or liability of the...
Continue readingHow to convert Partnership into LLP?
CONVERSION OF PARTNERSHIP INTO LLP In 2008 Parliament of India enacted the Limited Liability Partnership Act, 2008. Limited Liability Partnership is separate from its partners is a body corporate and legal entity having perpetual succession. The existence, rights, or liability of the LLP shall not be affected by any change in the partners of...
Continue readingMaintenance of Statutory Registers – Companies Act 2013
Introduction In order to function efficiently and to fulfill their statutory requirements, organizations need to manage or maintain certain records and registers. Maintaining such records and registers are important for fulfilling the disclosure, statutory requirements, statistical, MIS purposes. All this helps in ensuring that the operations of an organization are systematic. It is required...
Continue readingWhat is Form DIR-6?
In DIR–6 is the details to be filed about the changes made in any information that DIN/DPIN contains. For Example Changes in the Director’s Name, Address, Email-ID, Phone number, Appearance, Nationality, Educational Qualification, Gender, etc. What is DIN? Director Identification Number is mandatory for all the directors of a company whether existing or new. It...
Continue readingForm MGT-7
What Is Form MGT-7? Form MGT-7 is an E-form used by all the companies registered under the Companies Act,2013 to file their annual return. Form MGT-7 is available on the Ministry of Corporate Affairs(MCA) website. Form MGT-7 is also maintained by the Registrar of Companies(ROC) in electronic mode and based on the statement of...
Continue readingHow to Increase/Decrease paid-up share capital?
About Paid-up Share capital is the amount of money a company has received from shareholders in exchange for shares of stock. Moreover, Paid-up share capital is created when a company sells its shares on the primary market directly to investors. INCREASE THE SHARE CAPITAL The members of the company anytime may increase or decrease the capital of the company. Paid-up share capital...
Continue readingWinding Up of LLP – Closing an LLP
LLP is a new form of the concept introduced in India through the LLP act. LLP is exempt from audit if the annual turnover of the LLP is less than Rs.40 lakhs and/or the capital contribution is less than Rs.25 lakhs. So this characteristic has made LLP popular amongst many entrepreneurs. However, it may...
Continue readingLimited Liability Partnership (LLP form 11)
About LLP stands for a Limited Liability Partnership. … Like a traditional partnership, LLP also allows the partners to organize their internal structure. An LLP is a legal entity, liable for the full extent of its assets. However, the liability of the partners is limited. LLP Form 11 Annual Return LLP registered under the LLP act 2008. .It...
Continue readingWhat is Form INC-22A?
FORM INC-22A Form INC-22A is introduced by the Ministry of Corporate Affairs (MCA) to check the authenticity of all registered companies under the Companies Act, 2013. This form was introduced by the Ministry of Corporate Affairs (MCA) on the 21st of February, 2019. Form INC-22A introduced to check the existence of Registered office addresses...
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