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 [...]
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 [...]
What is a One Person Company (OPC) Companies Act, 2013 introduced the concept of One Person Company in India 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 have [...]
Introduction Section 101 (1) of the Companies Act, 2013 provides that a general meeting may be called by giving at least 21 clear days' notice in writing or through electronic mode in such manner as may be prescribed. 'Electronic means' includes any communication sent by a company through its authorized and secured computer program. [...]
An Annual General Meeting is a gathering of the general participation of an association. These associations incorporate enrollment affiliations and organizations with investors. These gatherings might be required by law or by the constitution, sanction, or by-laws administering the body. The meetings are held to lead the business in the interest of the association or [...]
What is a Private Limited Company? A Company is an association of persons who share common goals. Moreover, the owners of the company pool their resources to achieve their common goals. A private limited company is a closely held company with restrictions to issue shares to the public. Thus that it cannot go for an [...]
Before discussing the advantages of LLP let us first understand what is LLP. What is LLP? LLP short for Limited Liability Partnership is a hybrid of a traditional partnership and a private limited company with limited liability and perpetual succession, governed by the LLP Act, 2008, and LLP Agreement. LLP combines the benefits of [...]
In a notification dated 5 July 2018 released by the Ministry of Corporate Affairs (MCA) has announced the Companies (Qualification and Appointment of Director) Fourth Amendment Rules, 2018. According to the rule, in a registered company or a new company registration, every director holding a Director Identification Number (DIN) should mandatorily get his know your [...]
What is a Limited Liability Partnership(LLP)? By way of the Limited Liability Partnership Act, 2008 the worldwide recognized form of a business organization named Limited Liability Partnership entities was introduced in India. A Limited Liability Partnership combines the advantages of both the Company and Partnership in a single form of organization. The important difference [...]
