Introduction: It is of utmost importance that a firm, when allocating shares and securities, must file a return of allotment in e-Form PAS-3 to the Registrar on the Ministry of Corporate Affairs (MCA) portal, within thirty days, along with the full list of the beneficiaries to whom such shares and Read more…
Introduction: Each foreign Company will plan and record, inside a time of sixty days from the last day of its monetary year to the Registrar yearly return in Form FC.4 alongside such charge as given in the Companies (Registration Offices and Fees) Rules, 2014 containing the specifics as they remained Read more…
Introduction: Alteration of share capital refers to an increase or decrease of a company’s authorized share capital. The Companies Act of 2013 permits companies to alter and make some modifications to their authorized share capital. Section 2(3) of the Companies Act, 2013 defines “Alter or Alteration” it includes the making of additions, Read more…
Introduction: All the companies in India are governed by the Ministry of Corporate Affairs and all the steps of incorporation, to the Registrar of Companies. These institutions assist in smooth working and regulations of the Companies. It is to be made sure that all the companies are working fairly and Read more…
Introduction: An income tax return refers to a document highlighting a party’s income, profits and losses, details of tax refund or tax liability, and other deductions. One of its forms, the Income Tax Return-5 (ITR-5) form is filed by a specific community of taxpayers, and any return of income filed Read more…
Introduction: In the words of Gloss & Baker, “A sole proprietorship is a business owned by one person and operated for his profit.” Whereas B.O. Wheeler defines sole proprietorship as “the forms of business ownership which is owned and controlled by a single individual.” Thus, a sole proprietorship or individual Read more…
Introduction: According to Section 27 of the Companies Act, 2013[1], a company may change the contract clauses mentioned in the prospectus or the targets issued in the prospectus, except only when it is accepted and permitted at the general meeting of the shareholders by a special resolution. The announcement of Read more…
Introduction: The promoter, a term which was always been overlooked and ignored by the experts as well as the law was suddenly on everyone’s tip of the tongue when the Companies Act, 2013[1]got the president’s consent to become the ‘new company law’ of the country. It wasn’t just because the Read more…
Introduction: The company’s charter outlines the scope of its activities, which is defined by the memorandum of association. The Memorandum of Association outlines the company’s relationship with the members’ rights and interests as well as the company’s relationship with the members. Any company that wishes to change its Memorandum and Read more…
Introduction: A Prospectus is a document issued by the company inviting the public and investors for the subscription or purchase of any securities of a company. The prospectus describes the company’s stocks, bonds, and other types of securities offered by the company. A prospectus is always accompanied by the company’s Read more…
Introduction: According to Section 2(5)[1] of the Companies Act, 2013 the Articles of Association refer to those articles as “originally framed” or “altered” from time to time or applied in pursuance of any previous company law or this Act. However, this definition is vague and ambiguous. A different, better way Read more…
Introduction: With the advancement in the business, the companies are expanding their scope. Companies now are creating an aura of democracy in their affairs. Shareholders are considered supreme power who appoint ministers in the form of directors to run the business and make money for them. These directors hold the Read more…