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 […]
Continue reading »Body corporate incorporated outside India has both holding or subsidiary company has the act 1956. The company name without the word “LIMITED” or “PRIVATE LIMITED” in its name The central government has the power to registered a company that are formed as companies without the word “Limited” of “Private Limited” in their names. Minimum paid-up capital not applicable The requirement […]
Continue reading »Company Registration Pursuant to section 11(2) of the companies act 1956, (hereinafter called “the Act”), where more than 20 persons jointly desire to carry on any business (other than banking) with the object of acquisition of gain, they can go about to pursue that objective only if they form a company and get it registered under the provisions of the […]
Continue reading »The formalities prior to the company registration is comprising of : (i) selecting a name (with six alternative names in all in that order of preferences as desired so that in case the suggested first choice is not available the second and so on. (ii) drafting the Memorandum of Association. (iii) drafting the Articles of Association. Form of Memorandum A […]
Continue reading »Consent of members may be taken subsequently To suit the practical convenience, the company board of directors is allowed to make the appointment first and take the consent of the company in general meeting by special resolution at the general meeting held for the first time after the said appointment. Section applies to a public or private limited company The […]
Continue reading »Under this act, every provider shall be liable to be registered in the state or Union territory, from where he can doing their business. (a) Other than special category states – exceeds ₹ 20 lakhs. (b) Special category states – exceeds ₹ 10 lakhs. Meaning of terms : (a) Special category states shall mean the states as specified in clause […]
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Any enterprise operating on the basis of modern management principles needs to define its objectives. The broad methodology for achieving these objectives in the form of a corporate policy. As has been seen in earlier chapters, quality is an important element in the success of an enterprise. A corporate policy document should therefore visibly demonstrate top management’s commitment to the […]
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