LLP Modified Settlement Scheme, 2020 The Ministry of Corporate Affairs introduced a settlement scheme for Limited Liability Partnership (LLP) to allow the delayed filing of forms with an additional fee limit capped at Rs. 5,000/-, effective from 16th March 2020 until 13th June 2020. The scheme aimed to promote compliance among LLPs who failed to [...]
Introduction of Corporate Social Responsibility (CSR) and COVID -19 Corporate Social Responsibility (CSR) is the social responsibility entrusted on the corporates pursuant to their availing the benefits of the society and it is the duty of the corporates to give back and protect the society through CSR activities. COVID-19 also known as corona virus disease, [...]
CONVERSION OF A PUBLIC LIMITED COMPANY INTO A PRIVATE LIMITED COMPANY Many times there are circumstances which drive a Company to convert its nature from public to private. These circumstances may be such as favorable exemption provided to a private company or the business need or may be the market situation. So, let us discuss [...]
All about Companies Fresh Start Scheme, 2020 The impact of COVID-19 is dangerous as the virus is easily communicable and there is no specific antidote for the same. Government is trying their best to protect the interest of people to the extent they can. With this intent, they have introduced the Companies Fresh Start Scheme, [...]
INTRODUCTION Spice+ is another great move initiated by the Government of India to promote Ease of Doing Business in India. For the first time, the Government is providing an integrated service wherein 10 services is being provided by the Three Government Department simultaneously while incorporating a Company. This will not only save the time involved [...]
Partnership is a form of business wherein two or more partners manage and operate the business to achieve a common goal and share profit and losses. It is the most easy and inexpensive form of doing business in India. Each partner is personally liable for the debts of the partnership. The financial burdens of operating [...]
Introduction In India, starting a business under as Private Limited Company is one of the great forms of business. The Private Limited Company is an association of person who works for a common goal. It can have a minimum of two members and a maximum of 200 hundred members, whose liability is limited. Its shares [...]
One person company is new concept in India which is introduced by the companies act, 2013. This one person company is already in existence in other countries which enable its one person to incorporate and do business solely without adding any otherperson. An one person company may be formed for any lawful purpose by one [...]
Relevant provisions As per Section 62 of Companies Act 2013 the right offer shall include a right exercisable by the person concerned to renounce the shares offered to him in favor of any other person further if concerned person declines to accept the shares offered, the Board of Directors may dispose them in such manner [...]
The Directors are the person who controls the day today affairs of the Company on behalf of the Promoters/Shareholders. As per Section 2(34), of the Companies Act, 2013, "director" means a director appointed to the Board of a company. They are the person who are appointed by the shareholders in the Company. Section 152 (2) [...]
