Shares:Section 2(84) of Companies Act, 2013 Share means share capital of a Company and it includes stocks also. Share and Debentures are movable property, and they are freely transferable in the manner provided in the AOA of the Company. Share Certificate: Share Certificate is a document issued by a company indicating that the person named…
“Members right to inspect”Under Section 171 of The Companies Act 2013 The register kept under section 170 (1), – (a) the register shall be open for inspection during business hours (9 AM TO 6 PM) and the members shall have a right to take extracts therefrom and copies thereof, and on a request by the…
“Private company” are those firms that are having a minimum paid-up share capital which may be endorsed or prescribed by its articles and which,— (i) limit the rights to transfer its shares (ii) except in the case of OPC, limits the number of its members to 200: Given that, persons will be treated as a…
Disqualification of Director: Section 164 contains the conditions in which a director can be disqualified as a director. Determining the condition by which a person cannot be appointed as a director or restricting him from becoming a director of the company covered under Disqualification of a director. Reason of disqualification can be two As per…
The Indian Government recently introduced Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021 amending the previous rules. The same became effective from 22nd January 2021. CSR Defined Exclusively In New Rule: In Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021 the definition of CSR is exclusive definition and according to it the following activities will…
The board of directors of a company, if authorized by the articles of association, may appoint a person as an additional director. If a company wants to appoint a person as a director of the company but couldn’t do the same, as it is not possible to convene a general meeting then the company can…
Employee stock option plan Definition According to the Section-62 of the Companies Act, 2013 employee means- Permanent employee of the company. Director of the company except for the independent director. An employee of a subsidiary and holding of a company. Except for the person who is anemployee promoter and related to the group of promoters….
Section 230 to 240 of the Companies Act, 2013 contains provisions of ‘Compromises, Arrangements, and Amalgamations’, that covers: Compromise or arrangements, Mergers and amalgamations, Demergers, Corporate Debt Restructuring, Fast track mergers (process for small companies/holding subsidiary companies), Takeovers, Cross border mergers, Amalgamation of companies. Corporate Restructuring: Restructuring is an act by which a company can…
Section 192 of Companies Act 2013 seeks to provide the manner in respect of regulation of arrangements between a company and its directors in regard to the acquisition of assets for consideration other than cash. This clause furnishes that such arrangements shall require prior approval of members of the company by a resolution in general…
Secretarial Audit was initiated by MCA under section 204 of the Companies Act, 2013read with Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014. Secretarial Audit is a process by which the compliances with the provisions of various laws and rules/regulations/procedures, maintenance of books, records, etc., are duly checked by the independent practicing Company Secretary.The…
