National Company Law Tribunal NCLT was intended to be introduced within the Indian system in 2002 under the framework of Companies Act, 1956 however, thanks to the litigation with reference to the constitutional validity of NCLT which went for over 10 years, therefore, it had been notified under the businesses Act, 2013. It is a…
DIRECTOR IDENTIFICATION NUMBER (DIN) • Director Identification Number (DIN) is a unique 8-digit number that is allotted by Central Government to the individuals who intend to become a director in a company or who already are directors of company. • DIN once allotted is valid for lifetime of a director until cancelled, surrendered or deactivated.…
Governance is an act of managing a corporate entity. Corporate Governance has a broad scope and includes social and institutional aspect. It is more than company administration. It is fair, efficient and transparent functioning of corporate management system. A code of conduct which the board of directors may abide by while running the corporate enterprise.…
WINDING UP IN COMPANY LAW (PART 2) Company Liquidator: Appointment: The tribunal shall also appoint a provisional liquidator or a company liquidator at the time of passing an order for winding up of the company. This liquidator shall be appointed by a panel maintained by the Central Government consisting of the names of chartered accountants,…
At some point of your time thanks to several reasons one has got to close his business which stage is understood as completing of a corporation . It is the last stage of company during which its existence for past several years is dissolved and everyone its assets are wont to pay off the creditors,…
Chapter XI Section 149-172 of the Companies Act, 2013 deals with Appointment and Qualification of the directors of the company. Section 2(34) of the Act prescribed that “director” means a director appointed to the Board of a corporation . Section 2(10) of the businesses Act, 2013 defined that “Board of Directors” or “Board”, in reference…
1. Voting Rights: Section 47, CA, 2013 provides that each equity shareholder of a corporation has the proper to vote on every resolution placed before the corporate . Equity shareholder’s voting right on a poll will be in proportion to his share in the paid-up equity share capital of a company. Every preference shareholder of…
Section 2(84) of the Companies Act, 2013: “share” means a share in the share capital of a company and includes stock. It represents the interest of a shareholder within the company, measured for the needs of liability and dividend. It attaches various rights and liabilities. Important Definitions: The word “capital” means the precise amount of…
Shelf Prospectus Provisions related to shelf-prospectus have been discussed under 31 of Companies Act, 2013. Issued by the public financial institutions, company, or bank. When a shelf prospectus is issued then the issuer doesn’t get to issue a separate prospectus for every offering, he offers and sell without issuing an extra prospectus. The prospectus shall…
In Company Law, prospectus plays a significant role, where it contains all the material information (General, Financial & Statutory) of the company i.e., prices and shares detail of the specific company, which helps the general public who wishes to shop for a share therein specific company. As the prospectus may be a legally mandated document…
