FCS Ashish Jain 
Appointment of Directors under Companies Act 2006 Under the Companies Act 2006 new directors can be appointed by the company in one of the following ways: (i) By resolution of the company’s members : (adsbygoogle = window.adsbygoogle || []).push({}); The conventional way for a director to be appointed is via a resolution passed by the … Read more
Executive and Non Executive Directors under Companies Act 2006 (adsbygoogle = window.adsbygoogle || []).push({}); An executive director is a director who works on a full-time basis for his or her company, whether or not this is under a contract of employment. A sole director of a small company will invariably fit this description, even if … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); As per the provisions of section 73(2) of the Companies Act 2013 a company may, subject to the passing of a resolution in general meeting and subject to such rules as may be prescribed in consultation with the Reserve Bank of India, accept deposits from its members subject to the … Read more
Procedure for Appointment of Auditor in Government Company (adsbygoogle = window.adsbygoogle || []).push({}); As per the provisions of Section 139(5) of the Companies Act 2013 in case of a Government company or any other company owned or controlled, directly or indirectly, by the Central Government, or by any State Government or Governments, or partly by … Read more
Income Tax Implications on Deposition Rs 500 and Rs 1000 Notes in Bank Account (adsbygoogle = window.adsbygoogle || []).push({}); Addressing the nation on 08/11/2016 Prime Minister Shri Narendra Modi has announced demonetisation of Rs 500 and Rs 1,000 currency notes. Modi said that starting tonight the Rs 500 and Rs 1000 notes will only be … Read more
Board Resolution for Convening AGM “RESOLVED THAT the __th Annual General Meeting of the Members of the company be held on ………….., the ……..day of September, 201_ at ……. at the registered office of the company.” (adsbygoogle = window.adsbygoogle || []).push({}); “FURTHER RESOLVED THAT the Notice of the ___th Annual General Meeting of the Members of the company, as … Read more
Board Resolution for Convening EGM “RESOLVED THAT the __th Extraordinary General Meeting of the Members of the company be held on ………….., the ……..day of September, 201_ at ……. at the registered office of the company.” (adsbygoogle = window.adsbygoogle || []).push({}); “FURTHER RESOLVED THAT the Notice of the ___th Extraordinary General Meeting of the Members of the Company, as … Read more
Board Resolution for Convening EGM “RESOLVED THAT the __th Extraordinary General Meeting of the Members of the company be held on ………….., the ……..day of September, 201_ at ……. at the registered office of the company.” (adsbygoogle = window.adsbygoogle || []).push({}); “FURTHER RESOLVED THAT the Notice of the ___th Extraordinary General Meeting of the Members of the Company, as … Read more
Board Resolution for Sale of Forfeited Shares “RESOLVED THAT out of the total _________ Equity Shares forfeited by the Board, _______ Equity Shares be and is hereby re-issued to the following persons: Name of Shareholders No. of Shares Re-issued Amount Received “RESOLVED FURTHER THAT necessary entries in the Register of Members of the … Read more
Board Resolution For Call on Shares (adsbygoogle = window.adsbygoogle || []).push({}); “RESOLVED THAT the first call of Rs……….. per share be made on the holders of ……….. partly paid equity shares of Rs…………. each payable on or before the ………… or such other extended date as may be decided by the Board to the Company’s … Read more
Board Resolution for Exercise of Lien on Shares (adsbygoogle = window.adsbygoogle || []).push({}); “RESOLVED THAT pursuant to article ………….. of the Articles of Association of the Company, the right of lien on ……………. equity shares held by …………… shareholders as per list tabled before the Board be exercised by the Company in view of the … Read more
Board Resolution for Provision for Doubtful Debts (adsbygoogle = window.adsbygoogle || []).push({}); “RESOLVED THAT the consent of the Board of Directors of the Company be and is hereby accorded to make provisions for doubtful/bad debts of Rs.___________ due on various parties, a list of which is placed before the Board at “Annexure – I” duly … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); As per the provisions of Section 139(6) of the Companies Act 2013 the first Auditor of a company, other than a Government company, shall be appointed by the Board of Directors within thirty days from the date of registration of the company and on failure to do so, members of the company, shall … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); As per Rule (2) (1) (e) of Companies (Specification of definition details) Rules, 2014 “Director Identification Number” (DIN) means an Identification Number allotted by the Central Government to any individual, intending to be appointed as director or to any existing director of a company, for the purpose of his identification … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); As per the provisions of Section 68(2) of the Companies Act 2013 a company may purchase its own shares or other specified securities under Section 68(1), (a) if the buy-back is authorised by its articles; and (b) the buy-back is, ten per … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); As per the provisions of Section 66(1) of the Companies Act 2013 (1) Subject to confirmation by the Tribunal on an application by the company, a company limited by shares or limited by guarantee and having a share capital may, by a special resolution, reduce the share capital in any … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); As per the provisions of Section 42(1) of the Companies Act 2013 without prejudice to the provisions of section 26, a company may, subject to the provisions of this section, make private placement through issue of a private placement offer letter. For the purposes of this section, the expression “Private … Read more
Procedure For Formation of LLP (adsbygoogle = window.adsbygoogle || []).push({}); Step 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 of partners, atleast two shall be Designated Partners, of … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); As per the provisions of Section 151 of the Companies Act 2013 a listed company may have one director elected by such small shareholders in such manner and with such terms and conditions as may be prescribed. For the purposes of this section small shareholders means a shareholder holding shares … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); As per the provisions of section 73(2) of the Companies Act 2013 a company may, subject to the passing of a resolution in general meeting and subject to such rules as may be prescribed in consultation with the Reserve Bank of India, accept deposits from its members subject to the … Read more