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 -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 2

Whole-time Director” has been defined to incorporate a director within the whole-time employment of the corporate . A whole-time director refers to a director who has been employed of the corporate on a fulltime basis and is additionally entitled to receive remuneration. A whole-time director is taken into account and recognised as a ‘key managerial…

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…

Prospectus – Company Law – Part 2

Shelf Prospectus Provisions related to shelf-prospectus have been discussed under 31 of Companies Act, 2013. Issued by the public financial institutions, company, or bank. When a shelf prospectus is issued then the issuer doesn’t get to issue a separate prospectus for every offering, he offers and sell without issuing an extra prospectus. The prospectus shall…

Voluntary Winding up a company 3

Voluntary Liquidation or Voluntary completing of a corporation in India is run under Insolvency and Bankruptcy Code, 2016. Voluntary Liquidation is that the process of liquidating the corporate with the approval of its members. A company usually goes for a voluntary liquidation when its members decide to not continue its business operations. The main objective…

Basic Requirement of Articles of Association

ARTICLES OF ASSOCIATION Articles of association are the second document which has to be registered along with the memorandum of articles of a company in case of some companies. Companies which must have articles of association are: 1. Unlimited Companies 2. Companies limited by guarantee and 3. Private Companies limited by shares This document contains…