(adsbygoogle = window.adsbygoogle || []).push({}); Key Managerial Personnel (KMP) Section 203 of the Act read with Rule 8 of the Companies (Appointment And Remuneration of Managerial Personnel) Rules,2014 provides that every Listed company and every other public company having a paid up share capital of ten crore rupees or more shall have whole-time key managerial … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); In the light of the foregoing provisions in the Act and the model articles of association of a company as enshrined in Table A of Schedule I to the Companies Act, 2013, a company which receives an intimation about the demise or insolvency of a registered shareholder, is required to … Read more
Procedure for Variation of Members Rights (adsbygoogle = window.adsbygoogle || []).push({}); 1. Check the Memorandum and Articles of Association of the company, whether any of them authorizes the company to vary the rights attached to any class of shares and such rights of the company are not prohibited by either of them and … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); According to clause (e) of Sub-section (1) of Section 61 of the Companies Act, 2013, a limited company having a share capital may, if so authorised by its articles, cancel its shares which, at the date of the passing of the resolution in that behalf, have not been taken or … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); Regulation 28 of Table – F of Schedule – I provides that if a member fails to pay any call, or instalment of a call, on the day appointed for payment thereof, the Board of directors of the company may, at any time thereafter during such time as any part … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); Section 61(1)(c) of the Companies Act 2013 provides that a limited company having a share capital, if authorized by its articles may convert any of its fully paid shares into stock, and reconvert stock into fully paid up shares of any denomination. Only fully paid shares can be converted into … Read more
Procedure For Sub Division of Share Capital For sub-dividing the share capital of a company, the following procedural steps are required to be taken by the Board of directors. (adsbygoogle = window.adsbygoogle || []).push({}); 1. It must ensure that its articles of association contain a provision authorising it to sub-divide its shares. If … Read more
Procedure For Consolidation of Share Capital For consolidation of share capital, a company is required to take the following procedural steps: (adsbygoogle = window.adsbygoogle || []).push({}); 1. It must ensure that its articles of association contain a clause, authorizing it to consolidate its shares. If there is no such provision, the articles should … Read more
