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The Governing Body of the Company is the Board of Directors, who are in charge of the day-to-day operations of the company day-to-day operations. Certain rights are granted to the Directors or the Board for the company’s business activities to run smoothly. Moreover, some restrictions are also there to function the company in an organized […]
*28. (1) Where certain members of a company propose, in consultation with the Board of Directors to offer, in accordance with the provisions of any law for the time being in force, whole or part of their holding of shares to the public, they may do so in accordance with such procedure as may be […]
Amended and updated notes on section 65 of Companies Act 2013. Unlimited Company to provide for reserve share capital on conversion into a limited company. SECTION 65 of the Companies Act 2013 states provisions related to Reserve Capital which a company with share capital should retain to meet the liquidation prerequisites . What is Reserve […]
Refusal of registration and appeal against refusal. Section 58 of Companies Act 2013 (1) If a private company limited by shares refuses, whether in pursuance of any power of the company under its articles or otherwise, to register the transfer of, or the transmission by operation of law of the right to, any securities or […]
Section 128 of the Companies Act 2013 states that, (1) Every company shall prepare and keep at its registered office books of account and other relevant books and papers and financial statement for every financial year which give a true and fair view of the state of the affairs of the company, including that of […]
Section 433 of the Companies Act, 2013 provides that the Limitation Act, 1963 will apply to proceedings or appeals before the tribunal or the Appellate Tribunal. Let’s now briefly understand the object of the Limitation Act of 1963. The law of limitation provides a time restriction for enforcing a right in a court of law. […]
Section 144 of the Companies Act 2013 [Auditor not to render certain services] As per Provisions of Section- 144 of the Companies Act, 2013, an auditor appointed under the Companies Act, 2013 shall provide to the company only such other services as are approved by the Board of Directors or the audit committee. Accordingly, a […]
This section is covered under Chapter XXIX of the Companies Act, 2013. Under this article without prejudice to any liability under this Act or any other law currently in force, any person found guilty of fraud involving an amount of at least ten lakh rupees or one percent of the company’s turnover, whichever is lower […]
Section 48 of Companies Act. Variation of shareholders’ rights. “(1) Where a share capital of the company is divided into different classes of shares, the rights attached to the shares of any class may be varied with the consent in writing of the holders of not less than three-fourths of the issued shares of that […]
Where a prospectus, issued, circulated, or distributed under this Chapter, includes any statement which isection-34-of-companies-act-2013-criminal-liability-for-misstatements-in-prospectuss untrue or misleading in form or context in which it is incorporated or where any inclusion or omission of any matter is likely to mislead, every person who authorizes the issue of such Prospectus shall be liable under section 447: […]