Companies Act, 2013 defines a director as someone who is appointed to be a director on the board of directors.[i] Directors are supposed to act in a bona fide manner towards the company, as they are the agents of the company and thus have a fiduciary relationship with it. Directors are responsible for taking decisions…
Companies Act, 2013 and Companies (Registration Offices and Fees) Rules, 2014 state that documents need to be authenticated by individuals or professionals, depending on the document. Section 21 of the Companies Act, 2013 states that a document, proceeding or contract requiring authentication on behalf of the company can be signed by an officer of the…
Section 202: Compensation for loss of office of managing or whole-time director or manager. As per the provisions of Section 202 of Companies Act 2013, compensation for loss of office/consideration for retirement from office may be paid to MD/WTD or manager subject to specified limits and except in the specified cases. (1) A company may…
Chapter XX (Section 270–365) of the Companies Act, 2013 (CA 2013) deals with the provisions related to winding up. Section 293 of CA 2013 provides for books to be kept by Company Liquidator. Section 293: Books to be kept by Company Liquidator. (1) The Company Liquidator shall keep proper books in such manner, as may be…
I started working as a Legal Intern from my 2nd Semester and continued with the same Boutique Law Firm for 2 years post getting my Sanad. Around 10 years ago it was normal for law students to get into a Law Firm and work under a lawyer for around 6 months minimum, as it did…
INTRODUCTION The corporate world is growing very fast and there are so many people involved in creating value for the company. Companies have directors and employees which help a company to grow faster. Sometimes salary and other benefits do not motivate the directors and employees to work better for the company. Apart from the salary…
INTRODUCTION In today’s competitive world every company wants to generate more and more income and earn profits in their day-to-day business because they lack in so many aspects like management, nonavailability of raw materials, technology, and appropriate place for doing their business. to tackle this problem and to excel in the corporate world, they in…
The securities of a corporation are described in a document called a prospectus, which is required by law before it may be sold to the public. In the prospectus, investors may learn about the business and why these securities are being sold.[i] . A prospectus is a document that invites the general public to buy…
INTRODUCTION People in the world find ways to generate income, and they invest their money in the share market. A share market is a market where trading is done on the price of shares. The prices of each share are shown on the Stock exchange. The companies that issue shares also share certificates. This serves…
Any document that is referred to or distributed as a prospectus falls under the definition of prospectus. Any notification, circular, advertisement, or other material that serves as an invitation to offers from the general public is also included in this. Any securities of a corporate body should be the subject of such an invitation to…
