One of the chief-characteristics of the Indian Constitution is the way in which the normal federal Constitution can be adapted to emergency situations. A merit of our Constitution is that it visualizes the circumstances in which the strict application of the federal principles could destroy its basic assumptions. WHAT IS EMERGENCY? When the normal…
INTRODUCTION A company is formed when a number of people come together for achieving a specific purpose. This purpose is generally commercial in nature. The main purpose of business is to earn profit from as much as possible from the business activities. Every company has its own rules and regulations to be followed while running…
Section 49: Calls on shares of same class to be made on uniform basis. Any requests for additional share capital made in relation to a class of shares must be made uniformly with respect to all shares included in that class. For the purposes of this section, shares with the same nominal value but differing…
Every person in the entire nation wants to earn more and more profit as much as possible. When one does not fit into one’s own undertaking, he tries to do something better than can be possible. In the corporate world, many companies amalgamate into one another to get the benefits out of it. They generally…
When a company is incorporated, one of the documents that must be filed with the registrar of companies is the memorandum of association. The definition of a memorandum in Section 2(56) is “the memorandum of association of a company as initially formulated or as revised from time to time pursuant to any previous company law…
Introduction Section 61 of Companies Act, 2013, has laid down the power of limited company to alter its share capital. Section 61 came into existence on 1st April 2014 excluding the proviso of sub-section 1 and the proviso was implemented on 1st June 2016. Limited company refers to a company in which the liability of members of that…
Companies Act, 2013 defines a director as someone who is appointed to be a director on the board of directors.[i] Directors are supposed to act in a bona fide manner towards the company, as they are the agents of the company and thus have a fiduciary relationship with it. Directors are responsible for taking decisions…
Companies Act, 2013 and Companies (Registration Offices and Fees) Rules, 2014 state that documents need to be authenticated by individuals or professionals, depending on the document. Section 21 of the Companies Act, 2013 states that a document, proceeding or contract requiring authentication on behalf of the company can be signed by an officer of the…
Chapter XX (Section 270–365) of the Companies Act, 2013 (CA 2013) deals with the provisions related to winding up. Section 293 of CA 2013 provides for books to be kept by Company Liquidator. Section 293: Books to be kept by Company Liquidator. (1) The Company Liquidator shall keep proper books in such manner, as may be…
INTRODUCTION The corporate world is growing very fast and there are so many people involved in creating value for the company. Companies have directors and employees which help a company to grow faster. Sometimes salary and other benefits do not motivate the directors and employees to work better for the company. Apart from the salary…
