Differences between Limited Liability Partnership (LLP) and a Company LLP is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership. LLP can continue its existence irrespective of changes in partners. It is capable of entering into contracts and holding property in its own … Read more
Differences Between Partnership Firm and Company The principal points of distinction between a partnership firm and a company are as follows: Partnership Firm Company A partnership firm is not distinct from the several persons who form the partnership. A company is a distinct legal person. In a partnership, the property of the firm is the … Read more
Compliance of Corporate Social Responsibility (CSR) Provisions under Companies Act, 2013 CORPORATE SOCIAL RESPONSIBILITY (CSR) AUDIT Corporate Social Responsibility (CSR) includes various social and environmentally responsible guidelines, essential for companies that want to maintain a strong connection to the marketplace. Corporate Social responsibility includes the way a company treats and proactively contributes to its community, … Read more
Process of Secretarial Audit Under Section 204 of the Companies Act 2013 Secretarial Audit is a process to check compliance with the provisions of all applicable laws and rules/regulations/procedures; adherence to good governance practices with regard to the systems and processes of seeking and obtaining approvals of the Board and/or shareholders, as may be necessary, … Read more
Passing of Resolution by Circulation Under Companies Act, 2013 The Act requires certain business to be approved only at Meetings of the Board. However, other business that requires urgent decisions can be approved by means of Resolutions passed by circulation. Resolutions passed by circulation are deemed to be passed at a duly convened Meeting of … Read more
SEARCH REPORT UNDER THE COMPANIES ACT, 2013 A Search and Status Report as is apparent from, its name contains two aspects. The first being ‘search’ which involves physical inspection of documents and the second activity ‘status’ which comprises of reporting of the information as made available by the search. Thus a search and status report … Read more
Compliances For Listed Companies under SEBI (LODR) Regulations, 2015 Common Obligations to Listed Entity SI. No. Compliance Regulation Time Period Event 1 Submission of Compliance Certificate to the Exchange 7(3) Within one month of end of each half of the financial year, Submission of Compliance Certificate to Stock Exchange certifying that all activities in relation … Read more
Statutory Books Registers Returns to be Maintained Under Companies Act 2013 Section/Rule Particulars Form No. Rule 7 of the Companies (Registration Offices & Fees) Rules, 2014 Original Documents duly stamped relating to incorporation and matters incidental thereto and changes in any of the clauses of MOA/AOA. In any other cases, the relevant / related documents … Read more
MCA vide it’s notification dated 05/06/2015 (Principal Notification) exempted the Section 8 companies from complying with some provisions of the Companies Act, 2013 subject to the condition that the company will ensure the protection of shareholder’s interests. MCA vide notification dated 13/06/2017 (Amendment Notification) made certain amendments in the principal notification. The exceptions, modifications & adaptations … Read more
Compliances For Small Companies under the Companies Act, 2013 Sl. No. Title Section & Rules Particulars of Compliances 1. Disclosures by a Director of his Interest 184(1) & Rule 9(1) of Companies (Meetings of Board and its Powers) Rules, 2014. Form MBP-1 Every director shall at the first meeting of the Board in which he … Read more