My name is Kapila Patidar , student at Indore Institute of Law, pursuing BBA LLB 1 year. I have completed my 12 from Sai Shree International Academy in the year 2019. My father name is Mr. Mukesh Patidar and my mother name is Mrs. Sampat Patidar. He is farmer as well as stock broker. He has keen interest…
My name is Lavkesh Gour and I am hailing from Faridabad, Haryana. I am a second year Law student, currently pursuing BA.LLB (H) from University of Legal Studies, Chandigarh University. Recently I have completed the courses on Fundamental of Business Law, Time and stress management, Enforcement of Fundamental Rights. I have also completed a certified course on mastering…
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The 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…
INTRODUCTION 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…
ACCORDING 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…
The managing director of a company is in charge of the organization’s daily operations and is under the purview of the CEO (Chief Executive Officer), the executive head of a company. He or she is also expected to keep a company solvent and facilitate its expansion and growth. In other words, the managing director is…
INTRODUCTION Sec 241 deal with application to tribunal for relief in case of oppression, ETC. The terms oppression and mismanagement are not defined under the Companies Act, 2013. These terms are to be interpreted by the court depending upon the facts of each case. Mismanagement refers to practices of managing the company incompetently and dishonestly.…
Section 74. Repayment of deposits, etc., accepted before commencement of this Act. Chapter V (SEC 73-76A) of the Companies Act, 2013 deals with the provisions related to acceptance of deposits by companies. Section 74 of CA 2013 provides for repayment of deposits, etc., accepted before commencement of this Act. Applicability of the provision Section 74…
Introduction: Section 31 of the Indian Contract Act, 1872 says that “a contingent contract is a contract to do or not to do something if some event collateral to such contract does or does not happen.” Section 32 to 36 defines the enforcement and possibilities of the contingent contract. Definition: A contract is a contingent…
