A director is an individual who has the responsibility of directing, managing, and controlling the affairs of the company. The objective of the appointment of the director is to determine and implement the policies, once the Company Registration is complete. They need to manage the business and other affairs, by the provisions of The Company [...]
Overview Strike off Company under companies act 2013 means canceling the name of the company from the ROC register. The MCA (Ministry of Corporate Affairs) has revised the procedure to have the name struck off. These provisions related to strike off of companies allow the companies to get their names struck off from the records [...]
Introduction A company that needs to issue shares should keep in mind the authorized capital. Now, according to this authorized capital, it needs to issue shares that should always be less than or equal to the authorized share capital. This is called Paid-up capital. The pumped in money by the investors to run the business [...]
Section 66 of the Companies Act, 2013 allows a company to reduce its Authorized Share Capital. The Central Govt for this purpose constituted the National Company Law Tribunal (NCLT). It was notified of Procedure for Reduction of Share Capital of Company Rules, w.e.f. December 2016. Conditions Applicable: The reduction is Considered for internal Re-structuring of the company. So the consent in the [...]
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 in [...]
The Appointment of Managing director is directed by Section 203 of the Companies Act, 2013 (before 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 [...]
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 [...]
Companies (Registration Offices and Fees) Third Amendment Rules, 2018 The Ministry of Corporate Affairs has vided 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 [...]
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 [...]
