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…
REGISTERED VALUER: ‘Registered Valuer’ means a person registered as a valuer under Chapter XVII of the Act whereas the Ministry of Corporate Affairs vide its notification has implemented the Section 247 and Registered Valuer Rules w.e.f.18th October2017. As per section 247 of the Companies Act the estimate in respect of stock shares, goodwill or securities,…
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…
The Ministry of Corporate Affairs has vide its notification dated 17thJune 2020 (General Circular No. 23/2020) introduced the Scheme for relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013and further amended by notification dated 28th September 2020 by General Circular no 32/2020. As the relaxation from…
