Companies Act 2013
Section 128 Of The Companies Act 2013: Maintenance of Books of Accounts
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 […]
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Tanish Karuia
December 15, 2023 at 12:11 PM
Section 433 of the Companies Act, 2013 – Limitation
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. […]
Gayathri Madhu
December 15, 2023 at 12:03 PM
Section 144 of Companies Act 2013: Auditor Not to Render Certain Services
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 […]
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Aesha Gandhi
December 15, 2023 at 11:47 AM
Section 447 of the Companies Act, 2013: Punishment for Fraud
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 […]
Aryan Mohanty
December 15, 2023 at 11:46 AM
Section 48 of Companies Act 2013
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 […]
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Aayush Aman
December 15, 2023 at 11:42 AM
Section 34 Of Companies Act 2013: Misstatements In Prospectus
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: […]
Amrit P Mishra
December 15, 2023 at 11:34 AM
Section 62 Of Companies Act 2013: Further Issue Of Share Capital
Where at any time, a company having a share capital proposes to increase its subscribed capital by the issue of further shares, such shares shall be offered— (a) to persons who, at the date of the offer, are holders of equity shares of the company in proportion, as nearly as circumstances admit, to the paid-up […]
Tanish Karuia
December 15, 2023 at 11:33 AM
Transfer and Transmission Of Shares – Section 56 Of Companies Act 2013
Transfer of shares means the voluntary handing over of the rights and possibly, the duties of a member (as represented in a share of the company) from a shareholder who wishes to not be a member in the company any more to a person who wishes of becoming a member. Thus, shares in a company […]
Shruti Srivastava
December 15, 2023 at 11:30 AM
Commencement Of Business Companies act 2013 (Section 10a)
Section 10A of the Companies(Amendment) Act 2013, the Companies Act, Certificate of Incorporation, Erstwhile Companies Act 1956 A company having a share capital shall not commence any business or exercise any borrowing power unless – (a) A director files a declaration with the Registrar in such form and in such manner as may be prescribed, […]
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Tanish Karuia
December 15, 2023 at 11:24 AM
Section 78 of Income Tax Act,1961: Carry forward and set off of losses in case of change in constitution
The Income Tax Law does acknowledge the necessity of offsetting a loss from one year against income from another year before determining the assessor’s “total income,” on which tax is due. However, subject to meeting certain requirements and restrictions as laid down in the Act, such losses are permitted to be carried forward and set […]
Blog Intern
December 15, 2023 at 11:23 AM