A company is a democratic entity in which the majority of decisions are made by a vote of the shareholders. These shareholders are responsible for making crucial decisions that are important for the working of the company. Like a democracy, there exists a majority and a minority within the diversification of shareholders. Herein, a decision…
View detailsIntroduction Share capital, or the amount invested in the company to enable it to conduct business, is a need for all companies limited by shares. It can be changed or enhanced under specific circumstances. A company’s share capital may also be split into smaller shares of several classes. A ‘share’ is the interest of a…
View detailsGIFT DEED A Gift Deed is a legal document that represents a transfer of gift from one person to another as per the provisions of the law. Gift Deed is a legally binding written document defined in Section 122 of the Transfer of Property Act, 1822, through which the donor can transfer an existing movable or…
View detailsA trust is an arrangement by which the property of the author of the trust or settlor is transferred to another, the trustee, for the benefit of a third person, the beneficiary. In general terms, trusts fall into one of two categories, private trusts and public trusts. The India Trusts Act, 1882 (act) governs private…
View detailsSection 74. Repayment of deposits, etc., accepted before commencement of this Act. Chapter V (SEC 73-76A) of the Companies Act, 2013 deals with the provisions related to acceptance of deposits by companies. Section 74 of CA 2013 provides for repayment of deposits, etc., accepted before commencement of this Act. Applicability of the provision Section 74…
View detailsThe concept of Mortgage by deposit of title deeds is unique and seemingly simple as compared to the other kinds. Here, the debtor just delivers to the creditor the documents i.e., the title-deeds of immovable property with intent to create a security. Mortgage was a well-established mode for taking a loan since ancient times. In…
View detailsLand Award means that portion of the award in condemnation proceedings which represents the value of the land and of any subsurface installations of sanitary sewers, storm sewers, water systems pipes, landscaping, and the curbing, surfacing and other improvements to any streets or ways which may be taken, the consequential damages to any part of the…
View detailsMany people buy and sell shares of companies. It is a kind of investment by the consumers. But what does it mean for a company? A simple answer is that a company issues shares to earn some capital, known as share capital. However, it is not as simple as this. The Companies Act lays down…
View detailsINTRODUCTION A bill of exchange is a type of paper that entitles the holder to pay a certain amount of money to the debtor named in the document. The bill of exchange is both a means of payment and an instrument for making payment. The bill of exchange is typically a paper on orders, but…
View detailsIntroduction:When a person misunderstood or misinterprets the facts of something, he is at a mistake.The mistake may be defined as when either one or both the parties to the contract give their consent, which is caused by misunderstanding, and if this fact is not presented they would not come into the contract; the contract is…
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