FCS Ashish Jain 
(adsbygoogle = window.adsbygoogle || []).push({}); As per the provisions of section 120 of the Companies Act 2013 Without prejudice to any other provisions of this Act, any document, record, register, minutes, etc.,— (a) required to be kept by a company; or (b) allowed to be inspected or copies to be given to any person by … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); As per the provisions of section 148(2) of the Companies Act 2013 If the Central Government is of the opinion, that it is necessary to do so, it may, by order, direct that the audit of cost records of class of companies, which are covered under section 148(1) and which … Read more
As per the provisions of Section 63 of Companies Act, 2013 (adsbygoogle = window.adsbygoogle || []).push({}); (1) A company may issue fully paid-up bonus shares to its members, in any manner whatsoever, out of— (i) its free reserves; (ii) the securities premium account; or (iii) the capital redemption reserve account: Provided that no issue … Read more
Procedure For Obtaining Status of an Active Company by a Dormant Company (adsbygoogle = window.adsbygoogle || []).push({}); (1) An application, under section 455, for obtaining the status of an active company shall be made in Form MSC-4 along with fees as provided in the Companies (Registration Offices and Fees) Rules, 2014 and shall be accompanied … Read more
Procedure for obtaining status of dormant company (adsbygoogle = window.adsbygoogle || []).push({}); 1. A company may make an application in Form MSC-1 along with such fee as provided in the Companies (Registration Offices and Fees) Rules, 2014 to the Registrar for obtaining the status of a Dormant Company in accordance with the provisions of section … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); As per the provisions of Section 140(1) of Companies Act, 2013 The auditor appointed under section 139 may be removed from his office before the expiry of his term only by a special resolution of the company, after obtaining the previous approval of the Central Government in that behalf in … Read more
Procedure For Passing Resolution Through Postal Ballot Pursuant to clause (a) of sub-section (1) of section 110 of Companies Act 2013, the following items of business shall be transacted only by means of voting through a postal ballot- (adsbygoogle = window.adsbygoogle || []).push({}); (a) Alteration of the objects clause of the memorandum and in … Read more
As per the provisions of Section 152(6) of Companies Act, 2013 : (adsbygoogle = window.adsbygoogle || []).push({}); (a) Unless the articles provide for the retirement of all directors at every annual general meeting, not less than two-thirds of the total number of directors of a public company shall— (i) be persons whose period … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); As per the provisions of Section 160(1) of Companies Act, 2013 A person who is not a retiring director in terms of section 152 shall, subject to the provisions of this Act, be eligible for appointment to the office of a director at any general meeting, if he, or some … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); As per the provisions of Section 203(1) of Companies Act, 2013 Every company having paid up share capital of Rs.10 Crores or more shall have the following whole-time key managerial personnel,— (i) Managing Director or Chief Executive Officer or manager and in their absence, a whole-time director; (ii) Company Secretary; … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); As per the provisions of Section 161(3) of Companies Act, 2013 Subject to the articles of a company, the Board may appoint any person as a director nominated by any institution in pursuance of the provisions of any law for the time being in force or of any agreement … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); As per the provisions of Section 161(1) of Companies Act, 2013 The articles of a company may confer on its Board of Directors the power to appoint any person, other than a person who fails to get appointed as a director in a general meeting, as an additional director at … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); As per the provisions of section 62(1) of Companies Act, 2013 where at any time, a company having a share capital proposes to increase its subscribed capital by the issue of further shares, such shares shall be offered to persons who, at the date of the offer, are holders of … Read more
Draft Board Resolution for Approval of Lease Agreement (adsbygoogle = window.adsbygoogle || []).push({}); “RESOLVED THAT the Company do take on lease from M/s. __________, ……………………… (brief description of machinery) along with accessories for the use of the Company on the terms and conditions set out in the draft Lease Agreement received from _________ a copy … Read more
Draft Board Resolution for Hypothecation of Movable Assets (adsbygoogle = window.adsbygoogle || []).push({}); “RESOLVED THAT the company do create a charge, by way of hypothecation, over all its movable properties including movable plant and machinery in favour of _______________ in consideration of financial assistance, sanctioned in terms of the Agreement, dated the ……….. day of … Read more
Companies (Management and Administration) Amendment Rules, 2016 G.S.R. 908(E).— In exercise of the powers conferred by sub-sections (1) and (2) of Section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Management and Administration) Rules, 2014, namely:— (adsbygoogle = window.adsbygoogle || []).push({}); … Read more
Companies (Incorporation) fourth Amendment Rules, 2016 (adsbygoogle = window.adsbygoogle || []).push({}); Ministry of Corporate Affairs vide its notification dated 01st October, 2016 has amended the Companies (Incorporation) Rules, 2014 and brought out the Simplified Proforma for Incorporating Company Electronically (SPICe). With this notification, the following amendments have been made in the rules: 1. Substitution of the sub … Read more
Simplified Proforma for Incorporating Company Electronically (SPICe) MCA takes another Initiative in Government Process Re-engineering (GPR) (adsbygoogle = window.adsbygoogle || []).push({}); The Ministry of Corporate Affairs has taken another bold initiative in Government Process Re-engineering (GPR) and launched Simplified Proforma for Incorporating Company Electronically (SPICe) e-Form, on the occasion of Gandhi Jayanthi 2016, with the … Read more
As per Section 2(54) managing director means a director who, by virtue of the articles of a company or an agreement with the company or a resolution passed in its general meeting, or by its Board of Directors, is entrusted with substantial powers of management of the affairs of the company and includes a director … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); As per the provisions of Section 94(1) of Companies Act 2013 the registers required to be kept and maintained by a company under section 88 and copies of the annual return filed under section 92 shall be kept at the registered office of the company, Provided that such registers or … Read more