Every Company shall at the First Annual General Meeting appoint an Individual or firm as an Auditor who shall hold office from the conclusion of this meeting until the conclusion of sixth Annual general Meeting. Provided that Company shall place the matter relating to such appointment for ratification by members at every Annual General Meeting.…
The doctrine of Ultra Vires is a fundamental law of Company Law. It states that the company’s assets, as defined in its Memorandum of Association, may be removed from the extent permitted by law only. Therefore, if a company commits an act, or enters into an agreement beyond the control of the directors and /…
INTRODUCTION: The term ‘company’ has no technical or legal definition.” A “company” is defined by the Companies Act as “a company founded and registered under” the Companies Act. A company is a “legal person” or “legal entity” in common law, distinct from and capable of existing beyond the lifetimes of its members.“A business, like any…
Customer relationship management is a process in which a business or other organization administers its interactions with customers, typically using data analysis to study large amounts of information. CRM applications enable you to better manage that data, use it to analyse and forecast trends and customer behaviour, and embed it in your future business strategy.…
What is a Partnership? A partnership is a form of business where two or more people share ownership, as well as the responsibility for managing the company and the income or losses the business generates. That income is paid to partners, who then claim it on their personal tax returns – the business is not…
HISTORICAL BACKGROUND OF BHUSHAN STEEL Brij Bhushan Singhal started Bhushan steel in 1987, by acquiring a steel plant which was struggling to survive. He entered into the steel business along with his sons Neeraj and Sanjay, bringing the old steel plant to life. The company focused on the production of secondary steel, and its customers…
Introduction An entity whose complete proportion capital is held through overseas businesses can be described as a entirely-owned subsidiary organisation. A entirely-owned subsidiary organisation can be fashioned as a personal, proportion-restrained, guarantee-restrained, or legal responsibility organisation. Considering the severa exemptions that a personal restrained organisation could make to be had below the Indian Companies Act,…
Many market experts are proclaiming 2021 as the time of the SPAC. Yet, first, we need to know what is a SPAC and how can it function? For what reason would an organization decide to open up to the world through SPAC and what could be the dangers implied in it? Special Purpose Acquisition Companies…
Introduction The ministry of corporate affairs works according to the Companies Act 2013, companies act 1947 and the limited liability partnership act, 2008. It is known as an Indian government ministry. It also works according to the administration of Insolvency and Bankruptcy Code, 2016 and other rules and regulations which helps in regulating the functioning…
Mutual agreement between partners forms a partnership firm. A firm is said to be in partnership when two or more people work together and shares the profit gained from the business as well as bears the losses too. However, in a partnership firm each and every partner may not work equally, may not gain the…
