#Director #CompanyLaw #removalofDirector #board #registrar #CorporateSector #directorresign #companydirector #removedirector #member The removal of Directors is governed by Section 169 of the Companies Act of 2013 (previously Section 284 of the Companies Act of 1956). A shareholder has the legal right to remove a director at a general meeting using an Ordinary Resolution, as stated in Section 169 of the 2013 Companies Act. This right cannot be restricted by any clause in the

#Director #CompanyLaw #ResignationofDirector #board #registrar #CorporateSector #directorresign #companydirector #centralgovernment The Companies Act of 2013's Section 168 provides a clear explanation of the resignation of directors, which was missing from the original Act of 1956. A director may resign from their position by giving the company a written notice of their intent to do so, and the Board shall take such notice into consideration. Within 30 days, the Board must se

#NCLT #NationalCompanyLawTribunal #CompanyLaw #CompaniesAct #Tribunal #CompanyTribunal #Newdelhi #bankruptcy NCLT was established in accordance with Section 408 of the 2013 Companies Act. A quasi-judicial body called NCLT was established to handle civil-natured corporate disputes brought about by the Companies Act. In order to hear appeals against the decisions of the National Company Law Tribunal(s), the National Company Law Appellate Tribunal (NCLAT) was established under S

#NCLT #NationalCompanyLawTribunal #CompanyLaw #CompaniesAct #Tribunal #CompanyTribunal #Newdelhi #bankruptcy NCLT was constituted under section 408 of the COmpanies Act, 2013. NCLT is a quasi-judicial authority incorporated for dealing with corporate disputes that are of civil nature arising under the Companies Act. National Company Law Appellate Tribunal (NCLAT) was constituted under Section 410 of the Companies Act, 2013 for hearing appeals against the orders of National Co

#NCLT #NationalCompanyLawTribunal #CompanyLaw #CompaniesAct #Tribunal #CompanyTribunal #Newdelhi #bankruptcy In accordance with Section 410 of the Companies Act of 2013, the National Company Law Appellate Tribunal was established on June 1st, 2016. In India, the NCLAT is a quasi-judicial body that decides disputes involving Indian corporations. The cases decided by NCLAT fall under its appellate jurisdiction. Composition of NCLAT: NCLAT consists of a Chairperson and Judicial

#NCLT #NationalCompanyLawTribunal #CompanyLaw #CompaniesAct #Tribunal #CompanyTribunal #Newdelhi #bankruptcy #DRT #ConstitutionNCLT #QualificationNCLT The NCLT is a quasi-judicial authority incorporated for the purpose of dealing with corporate disputes that are of a civil nature arising under the Companies Act. It was established with the aim of regulating and resolving disputes between civil corporations. Section 409 of the Companies Act, 2013 defines the qualifications of

#NCLT #NationalCompanyLawTribunal #CompanyLaw #CompaniesAct #Tribunal #CompanyTribunal #Newdelhi #bankruptcy #DRT According to Section 408 of the Companies Act of 2013, the Central Government shall establish the National Company Law Tribunal by notification published in the Official Gazette (NCLT). The Companies Act, 2013, or any other currently in effect law, will be used by the National Company Law Tribunal to exercise and carry out the duties and powers that have been or m

#NidhiCompany #Companylaw #companiesact #corporatelaw #Sec406 #NIDHIScheme #companylawamendment #nidhi A company that is governed by the NIDHI Rules, 2014 and Section 406 of the 2013 Companies Act is referred to as a "NIDHI COMPANY." Such companies must abide by the law regulating Nidhi businesses. The Nidhi Company was only founded in India to encourage its own members to live simply and save money. A Nidhi company is a public limited company that adheres to special rules es

#NidhiCompany #Companylaw #companiesact #corporatelaw #Sec406 #NIDHIScheme #companylawamendment #nidhi A NIDHI COMPANY refers to a business that is subject to the 2014 Nidhi rules and Section 406 of the Companies Act of 2013. The law governing the regulation of Nidhi companies enforces such businesses. In India, the Nidhi Company was only established to encourage its own members to practice frugal living and save money. As per the definition of a Nidhi company, a Nidhi compan

#Companiesact #sec333 #windingup #windinguprules #companylaw #corporatelaw #windingup The Companies (Winding-up) Rules, 2020 were published by the Ministry of Corporate Affairs in 2020. While the Insolvency and Bankruptcy Code, 2016 covers 'voluntary winding up' and 'winding up on the grounds of inability to pay debts,' the Winding Up Rules outline the procedure for winding up following Section 271 of the Companies Act, which specifies when the NCLT may wind up a company. Rul

#Companiesact #sec333 #windingup #windinguprules #companylaw #corporatelaw #windingup The Companies (Winding-up) Rules, 2020 were published by the Ministry of Corporate Affairs in 2020. While the Insolvency and Bankruptcy Code, 2016 covers 'voluntary winding up' and 'winding up on the grounds of inability to pay debts,' the Winding Up Rules outline the procedure for winding up following Section 271 of the Companies Act, which specifies when the NCLT may wind up a company. Rul

#Companiesact #sec333 #windingup #windinguprules #companylaw #corporatelaw #windingup The Companies (Winding-up) Rules, 2020 were published by the Ministry of Corporate Affairs in 2020. While the Insolvency and Bankruptcy Code, 2016 covers 'voluntary winding up' and 'winding up on the grounds of inability to pay debts,' the Winding Up Rules outline the procedure for winding up following Section 271 of the Companies Act, which specifies when the NCLT may wind up a company. Ru

#company #companylaw #companiesact2013 #liquidation #law #windingup To understand this Section, let us just understand a few terms and their definitions as per The Companies Act, 2013. Who is a Contributory? A contributory is a person who is liable and responsible to contribute to the assets of a company when it is in the winding up stage. A contributory may be a member or shareholder of a company. The use of the word ‘contributory’ arises only during the period of winding up

#section295 #company #companylaw #companiesact2013 #windingup #liquidation #law According to Section 295 of The Companies Act, 2013, (1) The Tribunal may, at any time after passing of a winding up order, pass an order requiring any contributory for the time being on the list of contributories to pay, in the manner directed by the order, any money due to the company, from him or from the estate of the person whom he represents, exclusive of any money payable by him or the esta

#COMPANYLAW #COMPANYACT2013 #NCLT #NATIONALCOMPANYLAWTRIBUNAL #NCLAT #NATIONALCOMPANYLAWAPPELLATETRIBUNAL #SECTION241 #APPLICATION #OPPRESSION #RULE81 #RULE82 #RULE88 01. Any employee who raises a grievance against (Refer to the 2016 National Company Law Tribunal Rules, Rules 81 and 82.) The company's affairs have been or are being conducted in a way that is harmful to the public interest, harmful to him or any other member (meaning the person who signed the company's memoran

#COMPANYLAW #COMPANYACT2013 #NCLT #NATIONALCOMPANYLAWTRIBUNAL #NCLAT #NATIONALCOMPANYLAWAPPELLATETRIBUNAL #SECTION240 #LIABILITY #MERGER #AMALGAMATION Any officer (including any director, manager, or key managerial staff, as well as any individual who the Board of Directors or one or more of the directors are or are used to acting by when making decisions)[1] of the transferor corporation who violated the terms of this Act prior to the merger, amalgamation, or acquisition sha

#COMPANYLAW #COMPANYACT2013 #NCLT #NATIONALCOMPANYLAWTRIBUNAL #NCLAT #NATIONALCOMPANYLAWAPPELLATETRIBUNAL #SECTION239 #PRESERVATION #AMALGAMATEDCOMPANIES The books and papers (include all physical or digitally stored books of account, deeds, vouchers, writings, documents, minutes, and registers) of a company (denotes a business that was founded by this Act or previous company legislation) which has been amalgamated with, or whose shares (signifies a share in a company's share

#COMPANYLAW #COMPANYACT2013 #NCLT #NATIONALCOMPANYLAWTRIBUNAL #NCLAT #NATIONALCOMPANYLAWAPPELLATETRIBUNAL #SECTION238 #REGISTRATION #TRANSFEROFSHARES #SCHEMES 01. For any offer of a plan or agreement involving the transfer of shares (signifies a share in a company's share capital, which also includes stock)[1] or any class of shares from the transferor business to the transferee company under section 235, Every circular conveying such an offer and the recommendation by the tr

#COMPANYLAW #COMPANYACT2013 #NCLT #NATIONALCOMPANYLAWTRIBUNAL #NCLAT #NATIONALCOMPANYLAWAPPELLATETRIBUNAL #SECTION232 #MERGER #AMALGAMGATION 01. Where an application (Refer to Companies (Compromises, Arrangements, and Amalgamations) Rules, 2016, rules 18 and 19) is made to the Tribunal (National Company Law NCLT- NCLT[1] is a quasi-judicial[2] body which is authorised for dealing with the corporate disputes which are civil and arising under the Companies Act) under section 23

#COMPANYLAW #COMPANYACT2013 #NCLT #NATIONALCOMPANYLAWTRIBUNAL #NCLAT #NATIONALCOMPANYLAWAPPELLATETRIBUNAL #SECTION229 #BODYCORPORATE #BOARDOFDIRECTORS #SECTION447 When a person is asked to explain themselves or make a statement as part of an inspection, inquiry, or investigation, or when an officer (including any director, manager, or key managerial staff, as well as any individual who the Board of Directors or one or more of the directors are or are used to acting by when ma