At annual general meeting, the performance of the company in the last financial year and to consider the question of payment of dividend and of reappointment of directors and of auditors. Accordingly section 173 of the act prescribes that business other than the following that may be considered at every annual general meeting are special business: The statement of dividend […]
Continue reading »Raising of funds by issue of debentures or bonds is also a source of long-term capital for a company like share capital. Persons who subscribed to the shares of a company are its owners while debenture holders are its creditors. Shares and debentures are however, securities and the provisions of the companies act 1956 regulate their issue and protect the […]
Continue reading »Given in the section hold good unless the context otherwise requires. Where the context shows an intention repugnant to the meaning given in the definition, the context must prevail. Otherwise the meanings given in the section must govern even though they may not trade, in any case, be identical with that given to the expression in its ordinary or legal […]
Continue reading »The effect of trademark registration parts may consists various points that consult on the proprietor rights of the trademark. Policy and Object The object of the legislature was to relieve traders from the necessity of disclaiming and I think it follows from this, that the condition is one for the imposition of which some goods reason ought to be […]
Continue reading »Time when right issue conditions will not apply Up to two years from the public limited company registration, it may issue shares privately subject to the conditions that all such private issues may be completed within a period of one year from the date of first allotment of shares by the company. It shall be ensured that no private […]
Continue reading »The estimate fees payable to the registrar of companies at the time of registration depend on the authorized capital of a company as per amended schedule X to the act. For the guidance of the promoters the fees payable for different sizes of companies have been worked out and indicated. Department’s advice to registrars to be cautious when registering certain […]
Continue reading »Every private limited company is required to follow the statutory provisions contained in the companies act. The articles of association in relation to increase of capital, issue and allotment of shares and transfer of shares. Here we can see about fiduciary duties of directors in a private limited company. Issue of further shares Although section 81 of the companies act, […]
Continue reading »We have explained in the memorandum of association, the object clause of companies formed on or after 15-10-1965, the date of commencement of amendment act, 1965, shall carrying the objects as : Main objects that the company will pursue immediately on its registration The objects incidental or ancillary to the attainment of the main objects The other objects is not […]
Continue reading »Section 58A of the companies Act 1956, was introduced for the first time by the amendment act, 1974, by which the central government was given power to prescribe the limits. The conditions subject to which deposits may be accepted by a company from the public or from its members. Applicability These rules apply to inviting and accepting deposits by non-financial […]
Continue reading »Registration of Articles In terms of section 26 of the act, it is mandatory also to produce to the registrar, at the time of company registration, the articles of association, in the case of : Private Limited company by shares Company limited by guarantee, public or private limited Unlimited company, public or private limited Articles of a Public Company In […]
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