PROMOTERS IN COMPANY LAW (PART 2) A promoter has the foremost major role within the incorporation of a corporation from a mere business idea. They perform the subsequent functions to line it on a course of development. Promoters are generally the primary persons who conceive the thought of business. They perform the required investigation to…
Category: company
Promoters in a Company – 1
PROMOTERS IN COMPANY LAW(PART -1) Before 2013 there was no legal position related to promoters were defined in the Old Version of the Act of 1956. In the Old Act, the subscriber to the M.O.A was regarded as the promoters since they had subscribed to the company from its inception. CONCEPT ‘Promotion’ may be a…
National Company Law Appellate Tribunal
National Company Law Appellate Tribunal (NCLAT) was constituted under Section 410 of the businesses Act, 2013 for hearing appeals against the orders of National Company Law Tribunal(s) (NCLT). Hon’ble Acting Chairperson -Justice Bansi Lal Bhat CONSTITUTION As per Section 410 of Companies Act, 2013 ,the Central Government shall, by notification, constitute, an Appellate Tribunal to…
Adjudicatory Body
National Company Law Tribunal NCLT was intended to be introduced within the Indian system in 2002 under the framework of Companies Act, 1956 however, thanks to the litigation with reference to the constitutional validity of NCLT which went for over 10 years, therefore, it had been notified under the businesses Act, 2013. It is a…
Development in Company Law
DIRECTOR IDENTIFICATION NUMBER (DIN) • Director Identification Number (DIN) is a unique 8-digit number that is allotted by Central Government to the individuals who intend to become a director in a company or who already are directors of company. • DIN once allotted is valid for lifetime of a director until cancelled, surrendered or deactivated….
Corporate Governance
Governance is an act of managing a corporate entity. Corporate Governance has a broad scope and includes social and institutional aspect. It is more than company administration. It is fair, efficient and transparent functioning of corporate management system. A code of conduct which the board of directors may abide by while running the corporate enterprise….
Winding up a company 2
WINDING UP IN COMPANY LAW (PART 2) Company Liquidator: Appointment: The tribunal shall also appoint a provisional liquidator or a company liquidator at the time of passing an order for winding up of the company. This liquidator shall be appointed by a panel maintained by the Central Government consisting of the names of chartered accountants,…
Winding up a Company -1
At some point of your time thanks to several reasons one has got to close his business which stage is understood as completing of a corporation . It is the last stage of company during which its existence for past several years is dissolved and everyone its assets are wont to pay off the creditors,…
Directors – Company Law – 3
Vacation of Office of Director (Sec 167) This section provides the reason in when the office of the director shall become vacate. The following are the reasons:- • He incurs any of the disqualifications specified in section 164; where he incurs disqualification under sub-section (2) of section 164, the office of the director shall become…
Company Directors – Part 1
Chapter XI Section 149-172 of the Companies Act, 2013 deals with Appointment and Qualification of the directors of the company. Section 2(34) of the Act prescribed that “director” means a director appointed to the Board of a corporation . Section 2(10) of the businesses Act, 2013 defined that “Board of Directors” or “Board”, in reference…
Rights of Shareholders – Company Law
1. Voting Rights: Section 47, CA, 2013 provides that each equity shareholder of a corporation has the proper to vote on every resolution placed before the corporate . Equity shareholder’s voting right on a poll will be in proportion to his share in the paid-up equity share capital of a company. Every preference shareholder of…
Company Share Capital/ Debentures
Section 2(84) of the Companies Act, 2013: “share” means a share in the share capital of a company and includes stock. It represents the interest of a shareholder within the company, measured for the needs of liability and dividend. It attaches various rights and liabilities. Important Definitions: The word “capital” means the precise amount of…
