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The process of inspection, inquiry, and investigation of the affairs of the companies are dealt with within chapter XIV of the Companies Act, 2013. (ACT) In the companies act four provisions deal with the investigation of the company’s affairs, although these four sections (210, 212, 213, 216) run parallelly, they are interlinked at one of […]
What is an Explanatory Statement? An explanatory statement is a statement that sets out all such material facts and information that would enable a member to understand the meaning, scope, implications, and repercussions of the item of business to be transacted at the meeting and to take a decision thereon. Each item of special business […]
Compromise and arrangement Compromise means a peaceful settlement of differences by mutual compromise by the parties in dispute. Arrangement means a modification of rights. Such readjustment of rights may be with members or class of them or creditors or class of them. It can include the reorganization of capital. Section 230 of the Companies Act […]
Maintenance and inspection of documents in electronic form (Sec 120) Section 120 of the Companies Act, 2013 (the Act) allows for the electronic storage of documents. The provisions also allow for the inspection of electronic documents. It states that any document, record, register, minutes, or other item required to be kept by a company or […]
COMPANIES ACT 2013: SECTION 60 – PUBLICATION OF SHARE CAPITAL Section 60 of Companies Act 2013 provides for compulsory publication of subscribed as well as paid-up capital in the company’s financial statements and other key documents, which mentions the authorised capital . If default is made, the company shall be punishable with penalty which may […]
Section 451 of the Companies Act, 2013 talks about repeated defaults by the company or any officer of the company. As per the said section, if any company or any of its officers commits any crime and is punishable with fine or imprisonment or both and where that company or officer, as the case may […]
Introduction This article discusses the offences by Officers of Companies in Liquidation and the discipline set down under Section 336 of the Companies Act, 2013. This section ensures that the liquidation pattern of the association moves along true to form, and the directors don’t forestall the cycle in that frame of mind by committing offences […]
Freezing of assets of a company on inquiry and investigation defined under Section 221 and 222 of the Indian Companies Act 2013. Mismanagement and scam are quite common in companies. Picking these loopholes isn’t easy for the authority. Thanks to sections 222 and 221, which has been proved quite effective in averting these anomalies. Important […]
01. Any employee who raises a grievance against (Refer to the 2016 National Company Law Tribunal Rules, Rules 81 and 82.) 02. The Central Government may submit its application to the Tribunal for an order under this Chapter if it believes that the company’s business practices are contrary to the public interest (Refer to Rule […]
Chapter XX of the Companies Act, 2013 deals with the Winding-up of the company which is the process of ending a company’s life and administering its assets for the benefit of its members and creditors is known as winding up. An administrator, known as a liquidator, is appointed to take control of the company, collect […]