Companies Act 2013
Significant Beneficial Ownership – Section 90 Of Companies Act 2013
The legal concept of beneficial ownership is where specific property rights in equity belong to a person even though the legal title of the property belongs to another person. Financial Action Task Force (FATF) an inter-governmental body established in 1989 by more than 35 member countries including India to combat money laundering, terrorist financing, and […]
Amrit P Mishra
December 19, 2023 at 07:28 AM
Declaration in Respect of Beneficial Interest
The fact that who shall be the “beneficial owner” was clear from the time Section 89 was enacted, i.e. 1st April 2014, “beneficial owner” will be the person where “beneficial interest” is vested, but there was a lot of ambiguity as to what amounts to “beneficial interest” and on what grounds we can say that […]
Vaswani Nishtha
December 19, 2023 at 07:27 AM
Satisfaction of Charges
Section 82 According to section 82 read with the Rules, the company shall give intimation to the Registrar of the payment or satisfaction in full of any charge within thirty days from the date of such payment or satisfaction in Form No.CHG-4 along with the fee. Where the satisfaction of charge is not filed within […]
Sanskar Garg
December 19, 2023 at 07:25 AM
SECTION 72: POWER TO NOMINATE
According to the note to the provisions of the Companies Act. 2011, “this provision relates to section 109A of the Companies Act, 1956 and aims to provide that every shareholder or debenture holder may appoint a nominee or a joint nominee who shall be the holder of the instrument in the case of the death […]
Divyanshita Singh
December 19, 2023 at 07:19 AM
Section 70 Of The Companies Act 2013
In this article, we will discuss Circumstances or Situations under which the Buy-Back of Shares by a company is Prohibited. In other words, we will do an in-depth study about Section 70 of the Companies Act 2013. Now, let’s recall Section 67, which was Buy-Back of shares by a company; buying Back of shares is […]
Harmehak Kaur Anand
December 19, 2023 at 07:16 AM
SECTION 68: POWER OF A COMPANY TO PURCHASE ITS OWN SECURITIES
This provision is stated under the Companies Act, 2013 as Section 68 deals with the buyback of its securities for that purpose there are certain powers to buy back it for the company. A corporation may buy its shares or other specified securities with funds from: There shall be no buy-back of any kind of […]
Harshit Jain
December 19, 2023 at 07:14 AM
SECTION 67: RESTRICTIONS ON PURCHASE BY COMPANY OR GIVING OF LOANS BY IT FOR PURCHASE OF ITS SHARES
ACQUISITION RESTRICTIONS OR LOANS FOR THE PURCHASE OF THE COMPANY’S SHARES: Purchases of or loans to others for the purpose of obtaining the company’s own shares are forbidden – A basic concept of company law is that a corporation cannot buy its own stock. This is stated forth in Section 67 of the Companies Act, […]
Jain Saloni
December 19, 2023 at 07:12 AM
Reduction Of Share Capital: Section 66 Of Companies Act 2013
Reduction of share capital means the reduction of issued, subscribed and paid-up capital of the Company. The reduction of capital is mainly done by companies for producing a more efficient capital structure. Reduction of share capital may arise in various circumstances, for example, accumulated business losses, assets of reduced or doubtful value, etc. The reduction […]
Tanish Karuia
December 19, 2023 at 06:55 AM
Section 47 Of Companies Act 2013: Voting Right
The right to vote on certain business matters is a significant right of shareholders. Shareholders typically have the opportunity to vote on board of director elections as well as on projected corporate changes, such as a shift in the company’s mission and goals or structural changes. The Companies Act of 2013 (the “2013 Act”) defines […]
Harmehak Kaur Anand
December 19, 2023 at 06:43 AM
Section 44 Of Companies Act 2013: Nature Of Shares And Debentures
What is a share? A share, according to Section 2(84) of the Act, is “a share in a company’s share capital, and includes stock unless where a distinction between stock and shares is indicated or implied.” A share, according to Halsbury’s Laws of England, is a right to a specific amount of a company’s share […]
Yashika Thakran
December 19, 2023 at 06:41 AM