Civil courts are the lowest courts which take cognizance of all the suits of civil nature except few of which the jurisdiction is specifically ousted. In India, the functioning of civil court is guided by the Code of Civil Procedure, 1908. Section 9 of CPC brings out the jurisdiction of Civil Courts which reads as…
The shareholders democracy in today’s corporate world signifies the shareholders supremacy in the governance of the business and affairs of corporate sector either directly or through their elected representatives. The government of India has been endeavouring to scatter the shareholdership as widely as possible to avoid concentration of ownership in few hands. It is widely…
The Official liquidator is the officer of high court. He is appointed from the date of the order of the winding up. He has certain duties to perform under the Companies Act and he has to do all the required things in respect of compulsory winding up of a company according to the instruction of the high court.…
The Companies Act, 2013, Lays down the guidelines that every company must maintain and keep books, registers and copies of returns, documents etc. at its registered office. These books are acknowledged as Statutory Books. Statutory Books are the official records kept by company relating to all legal and statutory matters. The registers that contain the…
Meetings of the Board are covered in Section 173 of the Act, while quorum is covered in Section 174. – According to the Act, the first Board meeting must be convened within 30 days of the company’s incorporation. A minimum of four Board meetings must be held annually, and no more than 120 days may…
The provisions pertaining to company accounting are covered in Chapter IX of the Companies Act, 2013 (CA 2013), which is comprised of Sections 128 through 128. According to Section 133 of CA 2013, the Central Government may specify accounting standards. The Ministry of Corporate Affairs (MCA) has announced Section 133 of the Companies Act, 2013…
A Global Depository Receipt is a negotiable instrument denominated in a foreign currency. Through a GDR, Indian companies can trade their shares on international exchanges other than the US. The depository receipt for an Indian company is issued by a foreign depository. On that country’s domestic exchange, depository receipts trade similarly to shares. As a…
A share certificate is a written document issued by a company to act as legal proof of ownership of the number of shares as specified in the certificate. It can also act as a receipt towards the purchase and ownership of shares of a company. In simple words, it certifies the shareholder with registered ownership of…
COMPANIES (CREATION AND MAINTENTENANCE OF DATABANK IN INDEPENDENT DIRECTOR) RULE,2019 Section 150: This is new section which provide the manner or selection of independent director and maintenance of databank by anybody, institute or association as may notified by cental government. This section also tells prescription power of cental government. Notification from the Government of India’s…
INTRODUCTION A Global Depository Receipt is a negotiable instrument denominated in a foreign currency. Through a GDR, Indian companies can trade their shares on international exchanges other than the US. The depository receipt for an Indian company is issued by a foreign depository. On that country’s domestic exchange, depository receipts trade similarly to shares. As…
