1. Check whether the Articles of Association of the company authorizes the issue of equity shares with differential rights and if not, the name and the Articles of Association of the company. 2. Hold the Board meeting to issue the notice of general meeting for issuance of equity share with differential rights. 3. Before...
Continue readingRemoval of names of companies from the register of Companies
The power of registrar to remove the name of the company from the register of Companies. He can do so on his own or he can do after receiving an application from the company. So let us see the requirements under both cases which are as follows: 1) Removal of name of the company...
Continue readingAlternate Director under section 161 of the Companies Act,2013
Introduction Section 161(2) of the Act empowers the Board if so authorized by its articles or by a resolution passed by the company in general meeting, to appoint a director termed as ‘alternate director’ to act in the absence of an original director during his absence for not less than 3 months from India....
Continue readingNational Financial Reporting Agency (NFRA)
As per power given under Section 132 of the Companies Act, 2013 Central Government (CG) has introduced a new regulatory authority for Financial Reporting known as National Financial Reporting Authority (NFRA). National Financial Reporting Authority (NFRA) shall recommend, enforce, and monitor the compliance of accounting and auditing standards. The Companies Act, 1956 empowers the...
Continue readingCorporate Social Responsibility (CSR)
Introduction Companies manage their businesses through Corporate Social Responsibility to produce an overall positive impact through environmental and social actions. It is a business strategy because to some extent a consumer wants to buy products from companies he trusts, a supplier may form business relations with companies he can rely on, an employee may...
Continue readingDeposit
Meaning of Deposit As per section 2(31) of the Companies Act,2013 ‘deposit’ includes any receipt of money by way of deposit or loan or in any other form by a company. The procedure of Acceptance of deposit As per section 73 of the Companies Act,2013 a company may accept deposits from its members on...
Continue readingResignation of Director
About: A Director may resign from his office by giving a notice in writing to the company for their resignation. And then the board on receipt of such notice shall take note of the notice given by the director and the company from which the director wants to resign the company shall within 30...
Continue readingVacation of Office of Director
Vacation of office of Director means when the director ceases to hold the office on various grounds. So let’s look on the ground of vacation of office of Director of are as follows: The vacation of the director attracts when he incurs any of the Disqualification mentioned in the Companies Act. If the director...
Continue readingCharge under the Companies Act,2013
Introduction to Charge A charge is a security provided for securing loans or debentures by way of a mortgage on the assets of the company. Generally, debentures and other borrowings are secured by a charge on the assets of the company. Where property, both existing and future, is agreed to be made available as...
Continue readingHow to become a member of a company?
A company consists of members, though it has its own separate legal entity. The members of a company are the persons who constitute the company as a corporate body. In the case of a company limited by shares, the shareholders are the members. The terms “members” and“shareholders” are usually used interchangeably, being synonymous, as...
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