The company has to mandatorily file the financial statements to give the exact financial position of the company, to the shareholders. AOC-4 is used to file the financial statements for each financial year with the registrar of companies (ROC). If a company has its’ subsidiary company the company must file consolidated financial statements in the…
You open a company, commission an agency to create a brand for your business, you like it, you feel it yours. Meanwhile, the business grows, the turnover too. Your name begins to circulate. Years of work are finally rewarded by the success you had always hoped for: a brand well positioned on the market and…
If you have a car, a flat, you always register it to make sure that it is your property. So why don’t we do the same when we have a company? To inform a public body that you are the owner, and prevent another from using it, what you have to do is register it…
When you are about to start a new business, you wonder whether or not you should set up a legal entity to develop that project. Perhaps you ask here and there, and doubts increase when it is reported that to establish a legal entity such as a public limited company, you must spend on a…
Section 177 of the Companies Act, 2013 and along with the various rules of Companies (Meetings of Board and its Power) Rules, 2014 lays down the constitution, composition, the roles, and responsibilities of the Audit Committees. REGULATORY FRAMEWORK OF AUDIT COMMITTEE The legal provisions regulating an Audit Committee are as follows: Section 177 of the…
The outbreak of the coronavirus (COVID-19) is an unprecedented event that has led to the lockdowns and unanticipated restrictions on the public as well as the corporate sector in the various country of the world. Similar India has also been affected by the second wave of coronavirus and to control the spread of Covid-19, the…
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…
