Companies Act 2013
SECTION 130: REOPENING OF ACCOUNTS ON COURT’S OR TRIBUNAL’S ORDER
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 […]
Aesha Gandhi
December 18, 2023 at 06:37 AM
Serious Fraud Investigation Office (SFIO) – Section 211 & 212 Of Companies Act 2013
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 […]
Arpita Maharana
December 18, 2023 at 06:36 AM
Advertisement Of Prospectus: Section 30 of the Companies Act 2013
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 […]
##companiesact2013##COMPANYLAW##prospectus##section30
Gayathri Madhu
December 17, 2023 at 07:59 AM
Section 270 Companies Act 2013: Winding up by the tribunal
Section 270 Definition and Meaning Winding up of a company is the process through which a company’s existence and operations comes to an end. Its property is evaluated at realisable value and distributed to the beneficiaries like its members and creditors. A Liquidator is appointed to take control of the company who realises its assets, […]
Harmehak Kaur Anand
December 17, 2023 at 07:37 AM
Section 202 Of Companies Act 2013: Compensation For Loss Of Office
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 […]
##companiesact2013##compensation##compensationforlossofoffice##LossOfOffice##Section202
Arpita Maharana
December 17, 2023 at 07:33 AM
Sec 328 of Companies Act, 2013: Fraudulent Preference given to creditors
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 […]
Amrit P Mishra
December 15, 2023 at 01:11 PM
Section 209- Search and seizure.
Section 209 1. It states that if the registrar or inspector during the inspection has reasonable grounds to believe that the documents are likely to be damaged, tampered with, falsified, or secreted he can obtain an order from Special Court for the seizure of such documents and has the right to: 2. The registrar or […]
Sanskar Garg
December 15, 2023 at 01:03 PM
Penalties On Company, Officer, Auditor, etc. Under Companies Act 2013
If any of the provisions of Sec 139 to Sec 146 is contravened then the company shall be punishable with a fine which shall not be less than Rs. 25,000.00 but which may extend to Rs. 5,00,000.00 as provided in section 147 of the Companies Act, 2013. Every officer of the company who is in […]
Shubham Mishra
December 15, 2023 at 01:01 PM
Section 187 Of The Companies Act 2013
[Investments of company, to be held in its name] (1) All investments made or held by a company in any property, security, or another asset shall be made and held by it in its name: Provided that the company may hold any shares in its subsidiary company in the name of any nominee or nominees […]
##companiesact2013##COMPANYLAW##investments##InvestmentsOfCompany##Section187
Alka Pranjal
December 15, 2023 at 12:59 PM
Section 59 Of Companies Act 2013: Rectification Of Register Of Members
1. If the name of any person is, without sufficient cause, entered in the register of members of a company, or after having been entered in the record, is, without adequate cause, omitted therefrom, or if a default is made, or unnecessary delay takes place in entering in the register, the fact of any person […]
Shubham Mishra
December 15, 2023 at 12:57 PM