Since, Limited Liability Partnership is a hybrid of a company and a partnership and also are comparatively hassle-free in a day to day operations, as it provides the combination of benefits of both a company and a partnership to the management of the company. There are many LLP benefits which other forms of business do [...]
Introduction Recently Ministry of Corporate Affairs notified various Sections of the Companies Amendment Act, 2017 to further amend the Companies Act, 2013. This article provides an overview of the consequential amendment rules made in the corresponding Rule i.e. The Companies (Meetings of Board and its Powers) Amendment Rules 2018 The Companies (Meetings of Board [...]
Every group member has some specific rights and duties. One of those most important rights of the member is to know when are the meetings going to organize. This is useful in deciding whether the member can or should attend those meetings. Notice or the waivers of notice is the written documentation which proves [...]
Introduction- The Companies Amendment Bill, 2017 had been passed by the Lok Sabha on 27th July 2017 and by Rajya Sabha on 19th December 2017 and received the assent of the President of India on 3rd January 2018 and the Bill become the Companies Amendment Act, 2017. The Ministry of Corporate Affairs has notified most of the sections [...]
Introduction Shares can be defined as units of ownership interest in a corporation or financial asset, which in turn provide for an equal distribution in any profits (if any), declared in the form of dividends. Two main types of shares are common shares and preferred shares. It is noteworthy that it is a physical [...]
Traveling through the Companies Act,1956 to the Companies Act,2003, there has been a massive change in the entire process of company incorporation in India. There have been innumerable amendments in the company incorporation process been made in approximately the last four years. To have a broader idea its mandatory to mark the timeline of [...]
Introduction A Small Company is a privately owned Partnership, a Sole Proprietorship, or a Corporation. These types of companies have fewer employees and small annual revenue than other structures of a business. The businesses which are defined as “small” are in terms of being able to apply for government support and qualify for the [...]
Before discussing the DIR-6, let’s see why we have to apply for this form. According to Section 153 of the Companies Act 2013, a person who wants to become the Director of a Company or Partner of an LLP Registration has to file a DIR-3 Form. This is the prescribed Form for applying for allotment [...]
Introduction- Companies Amendment Act of 2017 On 3rd January 2018 Companies, Amendment Act 2017 received the assent of the President. Since the Ministry of Corporate Affairs has notified many sections of the Companies Amendment Act 2017 in a phased manner. Ministry of Corporate Affairs vide notification dated: 05th July 2018 has amended many rules of the [...]
Here is the rundown of incorporation requirements that you need to: a) Nidhi Company ought to have at least two hundred members to abstain from being in default with Rule 5 of Nidhi Rules, 2014. This one of the Incorporation Requirements of Nidhi Company. b) Net Owned Funds (capital invested) ought not to be less [...]
