Companies Act 2013
Section 52 of Companies Act 2013
Section 52 of Companies Act. Application of premiums received on issue of shares. “(1) Where a company issues shares at a premium, whether for cash or otherwise, a sum equal to the aggregate amount of the premium received on those shares shall be transferred to a “securities premium account” and the provisions of this Act […]
Aayush Aman
December 15, 2023 at 10:32 AM
Appointment Of Directors Under Companies Act 2013 (Section 152)
Any individual chosen by the Board of Directors is referred to as a Director of a Company under section 2(34) of the Companies Act. Each director is in charge of running the business affairs of the corporation. Also, he or she is crucial to the governance of the business and determining its strategic course. Relevant […]
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Yashika Thakran
December 15, 2023 at 10:30 AM
Board Meetings In Company Law: Section 173 Of Companies Act 2013
A Board Meeting is a formal meeting of the board of directors of an organization and any invited guests, held at definite intervals and as needed to review performance, consider policy issues, address major problems and perform the legal business of the board. Why are Board Meetings Held? The Board is also responsible for managing […]
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Divyanshita Singh
December 15, 2023 at 10:29 AM
Section 242 Of Companies Act 2013: Powers Of Tribunal
Tribunals are special judicial bodies established to deal with matters related to company law in order to make effective and prompt decisions. Section 242 of the Companies Act 2013 relates to the powers of the Tribunal, which have been reviewed and explained for your kind review. Powers of the Tribunal The first power conferred upon […]
Alka Pranjal
December 15, 2023 at 09:58 AM
Section 27 of Companies Act 2013
Section 27 of Companies Act 2013. Variation in terms of contract or objects in prospectus. (1) A company shall not, at any time, vary the terms of a contract referred to in the prospectus or objects for which the prospectus was issued, except subject to the approval of, or except subject to an authority given […]
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Suvarna Satpute
December 15, 2023 at 09:49 AM
Section 174 Of Companies Act 2013: Quorum For Board Meeting
Section 174- Companies Act 2013 : Quorum for General Meeting In the general sense, Quorum means the minimum number of people needed to hold meetings or make decisions during specific company meetings. The quorum is often considered the majority of members within a group or organization. What is a Quorum? [sec-103] ‘Quorum’ means the minimum […]
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June Jashivya
December 15, 2023 at 09:46 AM
Section 236 Of Companies Act 2013: Purchase Of Minority Shareholding
Section 236 talks about the purchase of minority shareholding by the majority shareholding it says that if an acquirer has ninety percent or more of the issued equity share capital of the company, he can make an offer to the company by a notification to purchase the remaining shares. Thoroughly reading of this provision gives […]
Tanish Karuia
December 15, 2023 at 09:45 AM
Proxies As Per Section 105 Of Companies Act 2013
What is a Proxy? The term ‘proxy’ is used in two ways under the Companies Act, 2013. The first refers to the individual appointed by a member to attend and vote in the meeting on his behalf as a representative. The other refers to the instrument/ document by which such an individual is appointed as […]
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Santanu Ghosh
December 15, 2023 at 09:42 AM
Duties of Directors Under Section 166 Of Companies Act 2013
What are the Duties of a Director? This section describes the duties of a director i.e. the director should work in the best interest of the firm. The following are the duties of a director: 1. Articles of Association (AoA) of the company should contain provisions regarding the duties and role of a director in […]
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Shree Dashukla
December 15, 2023 at 09:41 AM
Section 131 – Voluntary Revision Of Financial Statements
[Voluntary Revision of Financial Statement or Board’s Report] As per Section 131 of Companies Act 2013[1], if it appears to the Directors of the Company at any time that the financial statement or board report doesn’t comply with the provisions of law or is prepared with some error or incorrect information that requires correction can […]
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Tanish Karuia
December 15, 2023 at 09:36 AM