In accordance with section 2(69) of the Companies Act of 2013, a “Promoter” is someone who: (a) A person who has been identified as such in a prospectus or by the company in the annual report under Section 92; (b) A person who has direct or indirect control over the affairs of the company, whether…
View detailsDue to the fact that the directors of a business are its representatives and are obligated to behave in good faith, the Companies Act of 2013 established stringent rules including Section 184 to guard against the abuse of authority by the directors. In order to prevent a director from voting or participating in discussions regarding…
View detailsIntroduction The registered office of a company is the main office to which all communication relating to the company is sent by governmental departments. During incorporation, a company’s promoters must declare its registered office in its Memorandum of Association and keep certain documents, like the mandatory statutory registers, at the registered office. This article will…
View detailsIntroduction Previously, a company was not allowed to purchase its own shares/ securities, except for a very exceptional cases, as given in section 67 of the 2013 Act. This structural change in the principle and philosophy of company law was brought about by Section 77-A of the Companies (Amendment) Act, 1999 [1956 Act], which stipulates…
View detailsA Law student spends around 18-23 years in College. During this time their friends from Law School are working towards their legal career. Some of their friends who are not from Law School have already got their first job and are now planning to move Abroad to do their MBA. The challenges are unsaid and…
View detailsStudent’s Corner is a column, wherein we give opportunities to students to speak their heart out. If you are interested in participating in the same, do check out the details in the end. Our first Participant is Ms. Krasti Singh Chauhan, a fourth year BA LLB (Hons) Student from ICFAI Law School, The ICFAI University…
View detailsThe audit of the accounts of a firm is not compulsory, whereas the audit of accounts of a company is mandatory. APPOINTMENT OF AUDITORS The Companies Act, 2013 (the “Act”), has laid down specific and onerous obligations on the company and its auditors with stringent penalties, including imprisonment for non-compliance with the relevant provisions for…
View detailsINTRODUCTION The existing Companies Act, 1956 (the Act) in India (as also the Companies Act, 1985 in England) do not list out the functions of the secretary, there have been attempts over the last decade or so to include the same in the Act. The Companies (Amendment) Bill, 2003 and the Concept Paper on Company…
View detailsACCORDING TO SEC 8 OF COMPANY ACT—– Companies that are registered under Section 8 of the Companies Act, 2013 are those companies that pertain to Non-Government or Non-Profit Organizations. Such Section 8 companies are formed with an objective to promote the fields of trade, commerce, art, science, sports, education, research, religion, social welfare, environment protection…
View detailsAbout Shivam My name is Shivam Goel. I am second year law student at Vivekanand Institute Of Professional Studies. I like to subject IPC before doing this intern. This internship gave me an opportunity to explore Property Law. I would like to thank Second innings consultantcy and Aishwarya Sandeep mam to guide me during this…
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