A share certificate is a piece of paper that certifies the holder’s ownership of shares in a firm for the amount of shares listed on the certificate. It can also be used as a receipt for the acquisition and ownership of shares of a firm. The certificate attests the shareholder’s registered ownership of shares as…
INTRODUCTION In India, the law governing the companies is the Companies Act 2013, its previous version was an act of 1956. Section 2(20) of the act defines a company as “a company incorporated under this act or under any previous company law”[1]. The above definition does not give a meaning of the words company hence…
A creditor is someone who loans some credit to people, companies, other entities and so on, in the form of money, goods and services, credit facilities, and so on. The person the creditor loans this credit to is called the debtor. The debtor is responsible for returning the credit back to the creditor, with some…
A Managing Director plays a crucial role in the day-to-day functioning of a company. She/ he is responsible for the growth and progress of the Company, and the position is so important that, as per Section 2(51), a managing director is “Key Managerial Personnel” (KMP) placed along with a Chief Executive officer and a Chief…
INTRODUCTION Every entrepreneur looks forward to the first step in starting a business, which is giving it a legal identity by registering a company. Companies are governed by legal documents that spell out the dos and don’ts. The Memorandum of Association (MOA) and Articles of Association (AOA), also known as the company charter, define the…
In general companies rely on societal assets to operate efficiently, as they are morally obligated to contribute back to the society. CSR in India has traditionally been seen as a philanthropy activity. As some observers have pointed out, the practice of CSR in India still remains within the philanthropic space, but has moved from…
INTRODUCTION- The term “Company” basically means an association of a number of persons for some common object or objects. The purposes for which people may wish to make a company might differ. Buti in Legal terms, the meaning of the company might slightly differ, but not the purpose of the company, so, here a company…
INTRODUCTION Books of accounts means the records maintained in order to ascertain the financial position of the companies. It is mandatory to maintain books of accounts as it helps in the disclosure of the working as well as financial position of the companies to the shareholders so that they can have a more purposeful control…
The Companies Act, 2013 refers to proxies in 2 ways. The first meaning of proxy refers to an individual who has been appointed by a member to attend a board meeting on their behalf and vote in this meeting as a representative. The second meaning of proxy is referring to a document or instrument by…
INTRODUCTION: To run organization in a smooth manner, there is a need of efficiency in the organization, so it requires a systematic approach by maintaining records and registers. Statutory register is essential for an effective organization. MEANING: Statutory register contains essential information related to company’s current position and that must be accordance with Companies Act,…
