Introduction: Company Law provides for notification to the Registrar of Companies of the appointment of a statutory auditor at the Annual General Meeting by shareholders. This is an annual intimation that was present in the previous Companies Act, 1956, and is still present in the current Act. [1]However, the regulators Read more…
Introduction: A director is considered to be an agent of the company and his/her prime responsibility as a director is towards the efficient conduct of the business of that particular company. The director has a fiduciary relationship with both the company and also the shareholders. If he/she fails to do Read more…
Introduction: The term “reconciliation of share capital” refers to the process of systematically matching the data of dematerialized and physically held securities with all other securities. In simple terms, it is also the reconciliation of the entire Share Capital of the Company retained in Demat form with the National Securities Read more…
Introduction: All registered companies such as one-person companies, private limited company or limited companies are mandated to maintain a book of accounts and get it audited as per the Companies Act of 2013. Hence, after a company is incorporated, the Board of Directors needs to appoint an auditor. The Registrar Read more…
Introduction: The provision for an audit committee is included in Section 177 of the Companies Act of 2013[1]. This section specifies the audit committee’s structure as well as its responsibilities. It is a very well-written provision that specifies how the company’s performance and efficiency would be improved. It is a Read more…
Introduction: A company in legal terms is just an entity acting as per the laws and is an artificial entity working and serving the interests of a large number of people. It doesn’t have a soul or body of its own that’s why it is termed to be artificial in Read more…
Introduction: The procedure for forming a business has been simplified in recent years. Companies, on the other hand, are looking for ways to depart the business as a result of a growth in the number of compliances and laws with harsh consequences for non-compliance. The government has offered various exit Read more…
Introduction: A share certificate also known as a stock certificate is essentially a document issued by a corporation that serves as a legal document of ownership of the number of shares, a shareholder receives said share certificate as proof of ownership and as a receipt of his purchase of a Read more…
Introduction: Corporate Social Responsibility refers to the responsibility of the corporate entities towards society. CSR activities are voluntarily undertaken by the companies to contribute to a cleaner environment and a better society. The benefits of these activities are two-fold. It provides the entities with an enhanced image in the society Read more…
Introduction: On 5 November 2017, the Ministry of Corporate Affairs directed that it has struck down around 2.24 lakh shell companies that were considered inactive by the government of India. This step was said to be taken because most of these companies were not filing their annual returns, financial statements, Read more…
Introduction: The Соmраnies Асt, 2013[1] аllоws а shаrehоlder tо mаke nоminаtiоns аbоut shаres held by him in а соmраny. А nоminаtiоn is а written mаndаte given by а shаrehоlder tо а соmраny desсribing а раrtiсulаr рersоn, tо whоm the shаres held in the соmраny shаll vest in the event оf Read more…
Introduction: Nidhi Company is an NBFC (Non-Banking Finance Company) that is registered under Section 406[1] of the Companies Act of 2013. Mutual Benefit Finance Company is another name for Nidhi Companies. “Nidhi” refers to a company that has been incorporated as a Nidhi with the purpose of encouraging thrift and Read more…