Tag: All Companies
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Companies Amendment Bill 2016: Analysis
An attempt is made to present an analysis of the Companies Amendment Bill, 2016. Posting analysis of definitions only. Analysis on other provisions would be posted in staggering mode. CLC = Companies Law Committee of Ministry of Corporate Affairs (MCA) which submitted its report in February 2016. LODR = Securities and Exchange Board (Listing Obligations…
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Note on amendment to the Companies (Share Capital and Debenture) Rules, 2014 made from 18 march 2015
Note on amendment to the Companies (Share Capital and Debenture) Rules, 2014 by MCA vide notification no. G.S.R. 210(E) dated 18 March 2015. EXISTING AMENDMENT COMMENT Rule 3 of the Companies (Share Capital and Debentures)Application.- The provisions of these rules shall apply to – (a) all unlisted pubic companies: (b) all private companies: and…
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Section 74: Repayment of deposits, etc., accepted before commencement of this Act.
Provisions on repayment of deposits, etc., accepted before commencement of Companies Act, 2013 is reproduced below: 74. (1) Where in respect of any deposit accepted by a company before the commencement of this Act, the amount of such deposit or part thereof or any interest due thereon remains unpaid on such commencement or becomes due…
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Section 73. Prohibition on acceptance of deposits from public.
Prohibition on acceptance of deposits from public – as contained under section 73 of the Companies Act, 2013 is reproduced below: 73. (1) On and after the commencement of this Act, no company shall invite, accept or renew deposits under this Act from the public except in a manner provided under this Chapter: Provided that…
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Section 135: Corporate Social Responsibility.
Corporate Social Responsibility: 135. (1) Every company having net worth of rupees five hundred crore or more, or turnover of rupees one thousand crore or more or a net profit of rupees five crore or more during any financial year shall constitute a Corporate Social Responsibility Committee of the Board consisting of three or more…
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Section 20: Service of documents.
Service of documents. 20. (1) A document may be served on a company or an officer thereof by sending it to the company or the officer at the registered office of the company by registered post or by speed post or by courier service or by leaving it at its registered office or by means…
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Section 2(87): Subsidiary company or subsidiary.
Subsidiary company or subsidiary. Unless the context requires otherwise, the term ‘subsidiary company’ or ‘subsidiary’ wherever appearing in the Companies Act, 2013 shall have the following meaning: “subsidiary company” or “subsidiary”, in relation to any other company (that is to say the holding company), means a company in which the holding company – (i) controls…
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Section 18: Conversion of companies already registered.
Chapter II INCORPORATION OF COMPANY AND MATTERS INCIDENTAL THERETO Provisions of the Companies Act, 2013: Section 18: Conversion of companies already registered. For this provision, no rules are prescribed the Companies Rules, 2013. [Section 18 is not yet brought to force.] Section 18 is not a procedural provision. It confers right on companies to convert itself…
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Section 17: Copies of memorandum, articles, etc., to be given to members.
Chapter II INCORPORATION OF COMPANY AND MATTERS INCIDENTAL THERETO Provisions of the Companies Act, 2013: Section 17: Copies of memorandum, articles, etc., to be given to members. Rule 2.31 of the Companies Rules, 2013 [Section 17 is not yet brought to force and the Companies Rules, 2013 is not yet brought to force]. Corresponding provisions…
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Section 22 Execution of bills of exchange, etc.
Chapter II INCORPORATION OF COMPANY AND MATTERS INCIDENTAL THERETO [Sections 3 to 22] Provisions of the Companies Act, 2013: Section 22: Execution of bills of exchange. etc. For this provision, no rules are prescribed the Companies Rules, 2013. [Section 22 is brought to force with effect from September 12, 2013.] Corresponding provisions of the Companies…