Frequently Searched:
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 […]
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 […]
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 […]
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 […]
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 […]
This section seeks to provide for the re-opening of books of accounts and recasting of accounting records on an order by the competent court or Tribunal if it is discovered that earlier accounts were prepared fraudulently, or financial statements are not accurate due to mismanagement of the company’s affairs. REOPENING OF ACCOUNTS ON ORDERS OF […]
The Serious Fraud Investigation Office (SFIO) is an Indian statutory corporate fraud investigation authority. Originally, it was established by a resolution passed by the Government of India on 2 July 2003, and it conducted investigations within the existing legal framework established by Sections 235 to 247 of the former Companies Act, 1956. Eventually, Section 211 […]
Advertisement Of Prospectus – “Where an advertisement of any of a company is published in any manner, it shall be necessary to specify therein the content of its memorandum as regards the objects, the liability of members and the amount of share capital of the company, and the names of the signatories to the memorandum […]
Eligibility of Compensation for Loss of Office A company can make payment for loss of office to the following Key Managerial Personnel (KMP): Conditions to not Pay for Compensation for Loss of Office Sub-section : From a director’s perspective: A company need not pay under the following circumstances: The payment made to the director shouldn’t […]
When a corporation does anything or suffers something as a result of fraudulent conduct that may assist a person in standing out in a stronger position throughout the winding up, this is referred to as a “fraudulent preference” granted by the company. Let us understand it in an elaborative manner: If a company does anything […]