FCS Ashish Jain 
(adsbygoogle = window.adsbygoogle || []).push({}); As per the provisions of Section 56 of Companies Act, 2013 a company shall not register a transfer of shares of, the company, unless a proper transfer deed in Form SH.4 as given in Rule 11 of Companies (Share Capital & Debentures) Rules 2014 duly stamped and executed by or on behalf of the … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); As per the provisions of Section 56 of Companies Act, 2013 a company shall not register a transfer of shares of, the company, unless a proper transfer deed in Form SH.4 as given in Rule 11 of Companies (Share Capital & Debentures) Rules 2014 duly stamped and executed by or on behalf of the … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); As per the provisions of Section 55(2) of Companies Act, 2013 Preference Shares can only be redeemed either out of the profits of the company which would otherwise be available for dividend or out of the proceeds of a fresh issue of shares made for the purposes of such redemption … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); As per the provisions of Section 55(2) of the Companies Act, 2013 a company limited by shares may, if so authorised by its articles, issue preference shares which are liable to be redeemed within a period not exceeding twenty years from the date of their issue subject to such conditions … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); As per the provisions of Section 123(3) of the Companies Act, 2013 The Board of Directors of a company may declare interim dividend during any financial year out of the surplus in the profit and loss account and out of profits of the financial year in which such interim dividend … Read more
Procedure for incorporation of LLP (adsbygoogle = window.adsbygoogle || []).push({}); 1. Deciding the Partners and Designated Partners (i) A minimum of two partners who can be Individuals or Body Corporate through their nominees. (ii) Of the total number no. of partners, atleast two shall be Designated Partners, of which atleast one must … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); An additional director appointed in the board meeting under section 161 (1) of the Companies Act, 2013 can be appointed as a regular director as per the provision of section 160 at the ensuing Annual General meeting of the company following the procedure given below: As per the provisions of Section 160(1) … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); As per the provisions of Section 161 (4) of the Companies Act, 2013 in the case of a public company, if the office of any director appointed by the company in general meeting is vacated before his term of office expires in the normal course, the resulting casual vacancy may, in … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); Section 161 (2) of the Companies Act, 2013 deals with the Appointment of Alternate Director. As per the provisions of section 161 (2) states that : The Board of Directors of a company may, if so authorised by its articles or by a resolution passed by the company in general meeting, … Read more
Postal Ballot Procedure under Companies Act 2013 (adsbygoogle = window.adsbygoogle || []).push({}); 1. Check whether the business to be transacted by postal ballot relates to the businesses as specified in sub rule 16 of Rule 20 of Companies (Management & Administration) Rules, 2014. 2. Prepare the draft board resolution and postal ballot … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); Section 13 lays down that a company may, by special resolution, alter the provisions of its memorandum so as to change the place of its registered office from one State to another. The alteration of the memorandum relating to the place of the registered office from one State to another shall not have any … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); Section 13 lays down that a company may, by special resolution, alter the provisions of its memorandum so as to change the place of its registered office from one State to another. The alteration of the memorandum relating to the place of the registered office from one State to another shall not have any … Read more
Procedure for Shifting of Registered Office From One City to Another (adsbygoogle = window.adsbygoogle || []).push({}); As per the provisions of section 12(5) of the Companies Act 2013 Except on the authority of a special resolution passed by a company, the registered office of the company shall not be changed,— (a) in the … Read more
Loans to Directors under Companies Act 2006 (adsbygoogle = window.adsbygoogle || []).push({}); There are strict rules governing the circumstances in which directors may cause their companies to make loans or enter into other types of beneficial financial arrangement with them or people connected with them. A director who fails to observe these rules may be … Read more
General Meetings Under Companies Act 2006 (adsbygoogle = window.adsbygoogle || []).push({}); A general meeting is a meeting of a company’s shareholders (unlike a board meeting, which is a meeting of the directors). Companies Act 2006, Part 13 (comprising 80 sections) provides the statutory framework for the calling and conduct of general meetings. Note, too, that resolutions can … Read more
Statutory Registers under Companies Act 2006 Under the Companies Act 2006, every company must keep a number of separate registers, as follows: (i) Register of Members The register of a company’s members should contain the name and address of each member, the date on which they were first registered as a member and the date … Read more
Appointment of Auditors under Companies Act 2006 (adsbygoogle = window.adsbygoogle || []).push({}); Unless the company is exempt from the requirement to appoint auditors as a ‘small company’ or a ‘dormant company’ (and its members have not required an audit to be carried out) the company must appoint an auditor for each financial year (section 485 … Read more
Resignation of Director under Companies Act 2006 (adsbygoogle = window.adsbygoogle || []).push({}); Individual directors may wish to voluntarily terminate their own appointments for any number of reasons, both personal and business. They will normally do this via a formal resignation from office. It is important that the director’s intention to resign is communicated to the … Read more
Removal of Director by Members under Companies Act 2006 (adsbygoogle = window.adsbygoogle || []).push({}); The members of a company have a statutory power to remove a director from office at any time by passing an ordinary resolution for that purpose (section 168(1) CA 2006). That section also provides that the members’ right of removal applies … Read more
Eligibility to act as a Director under Companies Act 2006 (adsbygoogle = window.adsbygoogle || []).push({}); There has never been any prior test of competence that must be passed by a person wishing to act as a director of a limited company. Neither is there any expectation that any formal qualification be held by such a … Read more