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…
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…
The Ministry of Corporate Affairs has amended the Companies (Audit and Auditors) Rules, 2014 and these rules may be called the Companies (Audit and Auditors) Amendment Rules, 2021 which shall come into force from 01.04.2021. Notification: http://www.mca.gov.in/Ministry/pdf/AuditAuditorsAmendmentRules_24032021.pdf By this amendment, the MCA has amended the Rule 11 of Companies (Audit and Auditors) Rules, 2014 Rule…
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….
The Ministry of Corporate Affairs vide its notification dated 24th March 2021 has amended the Companies (Accounts) Rules, 2014, in the exercise of the power conferred under section 139 along with Section 469 of the Companies Act, 2013 and the amended rules to be called as Companies (Accounts) Rules, 2014. The amendment shall come into…
