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 Social Responsibility 2

Corrections to Companies Act, 2019 The revision made to the arrangements has adjusted the importance of corporate social duty and has made changes in specific arrangements of the Act. According to the revisions made by the public authority, the arrangements are made compulsory for contributing a piece of the portions of the organization for the…

Key Managerial Persons in a Company – Part 1

One of the new concepts that have been added by the Companies Act, 2013 is “key managerial persons”. Section 2(51) of the Companies Act, 2013. The said Section states as under:“Key managerial personnel”, in reference to a corporation , means— (I) The Chief military officer or the director or the manager; (ii) The company secretary; (iii) The whole-time director; (iv) The Chief…