Companies Act 2013
Section 150 Of Companies Act 2013: Selection Of Independent Directors & Maintenance Of Databank
Section 150 of the Companies Act, 2013 specifies that: Rule 6 of the Companies (Appointment and Qualification of Directors) Rules, 2014 It specifies rules for the creation and keeping of a database( databank) of individuals seeking to become independent directors. 1) Creating a Databank: Any group, institute, or organization (the agency), which has been authorized […]
Shruti Srivastava
December 18, 2023 at 07:25 AM
Section 42 Of Companies Act 2013 : Private Placement
Section 42 of the Companies Act, 2013, as altered by the Companies (Amendment) Act, 2017, and Rule 14 of the Companies (Prospectus and Allotment of Securities) Rules, 2014 govern the sale of securities through a private placement. The term “Private Placement” refers to any offer of securities or invitation to subscribe to securities made to […]
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Swagata Pramanik
December 18, 2023 at 07:20 AM
Section 210 of the Companies Act, 2013- Investigation into affairs of company
The investigation’s primary goal is to gather evidence, identify any illegal acts or infractions, and then determine the appropriate course of action. The act’s Section 210 stipulates: (a)Investigation according to the central government’s assessment Where the central government is of the opinion, that it is necessary to investigate the affairs of a company: 1) On the […]
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Santanu Ghosh
December 18, 2023 at 07:15 AM
Sweat Equity Shares As Per Companies Act 2013 – Section 54
“SECTION 2(88) ‘Sweat equity shares’ means Equity shares issued by the company to its employees or directors at a discount or for consideration other than cash for providing know-how or making available rights in the nature of intellectual property rights or value addition by whatever name called.” Put simply; The term sweat equity is all […]
Swagata Pramanik
December 18, 2023 at 07:07 AM
Section 205 of Companies Act, 2013 – Functions of Company Secretary
According to the Companies Act, the Company Secretary is an individual who – A company secretary is an officer of the company who is in charge of ensuring that the terms of the Companies Act, 2013 and other corporate, tax, industrial, and economic laws that apply to enterprises, in general, are followed. Role of a […]
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Amrit P Mishra
December 18, 2023 at 06:53 AM
Sec 33 of Income Tax Act, 1961: Development allowances
Development allowance, defined under section 33A of the Income Ta Act, 1961, is allowed for a deduction in the manner specified under this section in given circumstances. In respect of the planting of tea bushes on any land in India owned by an assessee, a sum by way of development allowance equivalent to (i) where […]
Divyanshita Singh
December 18, 2023 at 06:52 AM
Sec 331 of Companies Act, 2013: Liabilities and Rights of Certain Persons Fraudulently Preferred
Section 331 of the Companies Act of 2013 is part of Chapter 20 of the Act, which deals with the issue of company winding up. A company’s dissolution is known as winding up. Section 331 explains the responsibilities and rights of those who have been fraudulently preferred. Section 328, which deals with the problem of […]
Alka Pranjal
December 18, 2023 at 06:50 AM
Companies (Inspection, Investigation,Inquiry)act 2013
Companies( inspection ,investigation, inquiry) Act 2013 Chapter XIV (Sections 206 to 229 ) of the Companies Act, 2013 deals with the provisions related to inspection, investigation and inquiry. The Companies (Inspection, Investigation and Inquiry) Rules, 2014 published vide G.S.R. 247(E), dated 31-03-2014. Read with section 210 “Investigation into affairs of company”, section 211 “Establishment of […]
Tanish Karuia
December 18, 2023 at 06:48 AM
Companies Appointment And Remuneration Of Managerial Personnel Rules 2014
Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, as amended by Companies (Appointment and Remuneration of Managerial Personnel) Amendments Rules, 2020. Appointment and Remuneration of Managerial Personnel Rules 2014 are applicable from 1st April 2014. Rule 6 is read with section 200, “Central Government or company to fix a limit concerning remuneration.” Rule-6 specifies […]
Harshit Jain
December 18, 2023 at 06:43 AM
SECTION 422 EXPEDITIOUS DISPOSAL BY TRIBUNAL AND APPELLATE TRIBUNAL
What is National Company Law Tribunal? It is a quasi-judicial body that is authorized to deal with the corporate disputes which are civil and arising under the Companies Act. The current President of NCLT is Chief Justice (Retd.) Ramalingam Sudhakar[4]. Functions- Benches of National Law Tribunal[6]- Locations Jurisdiction Principle Bench i.e., New Delhi New Delhi […]
Sankalp Mirani
December 18, 2023 at 06:42 AM