The Insolvency and Bankruptcy Code, 2016 (31 of 2016) Key words of Preamble to the Insolvency and Bankruptcy Code, 2016 (IBC):- reorganization and insolvency resolution of- corporate person, partnership firms and individuals – in a time bound manner for maximization of value of assets to promote entrepreneurship availability of credit balance the interest of … Continue reading Transition from High Court to NCLT, compromise, arrangement, winding-up and other matters
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 … Continue reading Section 74: Repayment of deposits, etc., accepted before commencement of this Act.
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 … Continue reading Section 73. Prohibition on acceptance of deposits from public.
Chapter II INCORPORATION OF COMPANY AND MATTERS INCIDENTAL THERETO Provisions of the Companies Act, 2013: Section 7: Incorporation of a Company Rule 2.9 to 2.15 of the Companies Rules, 2013 [Section 7 is not yet brought to force and the Companies Rules, 2013 is not yet brought to force] Corresponding provisions of the Companies Act, … Continue reading Section 7: Incorporation of a Company
CHAPTER IV SHARE CAPITAL AND DEBENTURES [Section 59 is brought to force with effect from September 12, 2013.] Rectification of register of members Section 59. (1) If the name of any person is, without sufficient cause, entered in the register of members of a company, or after having been entered in the register, is, without … Continue reading Section 59 Rectification of register of members
Refusal of registration and appeal against refusal. 58. (1) If a private company limited by shares refuses, whether in pursuance of any power of the company under its articles or otherwise, to register the transfer of, or the transmission by operation of law of the right to, any securities or interest of a member in … Continue reading Section 58 Refusal of registration and appeal against refusal.