Since the last two decades, the startup culture is advancing popularity across the world. India, the world's seventh largest economy in terms of GDP and the third largest in terms of purchasing power parity (PPP), is also claiming a rank in the emerging startup world. After 2005 there is a sudden surge in startup registrations [...]
The Appointment of Managing director is directed by the Section 203 of the Companies Act, 2013 (prior Section 269 of the Companies Act, 1956). However, it is not mandatory to appoint a Managing Director in a Private Limited Company under the Companies Act, 2013. The Board of Directors appoints one of its members to manage the [...]
One Person Company Annual Compliances refers to the filing of various documents on an annual basis. One person company can be formed by one person only, who can act as a director as well as a shareholder. There were no provisions of forming a One Person Company in the Old Companies Act 1956. with the [...]
Registration of Charge Once Registration of charges is made, it turns into the obligation of the organization to enlist those accuses to the Registrar of Companies. Alongside the archives that make a charge over the organization. According to the Companies Act, 2013, mentioned below are accompanying charges made on an organization must be enlisted with [...]
Companies (Registration Offices and Fees) Third Amendment Rules, 2018 The Ministry of Corporate Affairs has vide notification dated June 12, 2018, has notified Companies (Registration Offices and Fees) Third Amendment Rules, 2018 by which format of Form DIR-3 and Form DIR-6 has been updated G.S.R. 558(E). Therefore, In exercise of the forces presented by 149 [...]
Chit Fund Company A Chit Funds is a prominent kind of investment funds that operate in India as a principal part of the disorderly currency advertise industry. As well as Chit stores give access to investment funds and borrowings for individuals with constrained access to managing account offices. Thus, Chit stores are controlled by Chit [...]
Foreign National as director of Indian Company under Companies Act, 2013 Under the Indian Companies Act, 2013, six kinds of Directors are designated in a private limited company. This designated director of a company can be Women Director, Independent Director, Foreign National director, Small Shareholders Director, Additional Director, Alternative and Nominee Director. Therefore, the Act does not [...]
Before discussing the difference between Authorized Capital and Paid-up Capital it is important to understand what is authorized and paid up capital. Authorized Share Capital It is the greatest measure of offer that an organization is approved to have by its MOA to issue to the investors i.e the maximum share capital that a company is [...]
Introduction Section 8 Company is(2) established 'for promoting commerce, art, science, sports, education, research, social welfare, religion, charity, protection of the environment or any such other object'. Further profits, if any, or other income is applied for promoting only the objects of the company and no dividend is paid to its members. Therefore, Section 8 can [...]
What is a One Person Company (OPC) Companies Act, 2013 introduced the concept of One Person Company in India in order to promote self-employment and to motivate individuals who are capable of starting a business of their own. The need for two directors in a private limited company is eliminated which aids the entrepreneurs to [...]
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