When an applicant files a form for incorporation of a company, we need to select the designation and category of first directors in incorporation Form 32 (popularly called Spice) or wherever company appoints a director. There are four different categories of directors. We will discuss confusion regarding these categories of directors.
Posted in Chapter II - CA2013, Chapter XI - CA2013, Companies Act 2013
Tagged Additional Director, Alternate Director, chairman, chairperson, Director, Executive Director, Independent Director, Managing Dir, Managing Director, Nominee Director, Non - executive director, Professional Director, Promoter Director, Small shareholders’ Director, Whole – time Director
Before being launched a pilot project on 26th January 2016, central registration of companies was under consideration since long. However, The Central Government under the able leadership of Prime Minister Narendra Modi launched it silently and suddenly as a pilot project for the setting of Central Registry for Companies in India. Presently, central registry looks after only two functions: (a) Name Approval and (b) Company Incorporation.
Posted in Chapter II - CA2013, Companies Act 2013
[The law stated in this post is valid from 27th July 2017 with an update made in this post with effect from 6th March 2019]
On 27th July 2017, Ministry of Corporate Affairs published a notification in Official Gazette of India amending the rules relating to shifting of registered office of a company from jurisdiction of its present registrar of companies to another registrar of companies. The Companies (Incorporation) Second Amendment Rules, 2017 came into effect from the date of publication. In this post, we will discuss the shifting of registered office of a company to another state or the union territory.
On 27th July 2017, Ministry of Corporate Affairs published a notification in Official Gazette of India amending the rules relating to shifting of registered office of a company from jurisdiction of its present registrar of companies to another registrar of companies. The Companies (Incorporation) Second Amendment Rules, 2017 came into effect from date of publication. In present post, we will discuss first aspect of such shifting of registered office – shifting within a state but from one registrar of companies to another registrar of companies.
I receive a question on Quora which may interest readers of this Blog. The question is –
What is the difference between limited company & private limited company?
I receive a question on Quora which may interest readers of this Blog. The question is –
“What is limited in private limited company? I understand limited means limited liability but can someone explain with a detailed example about how this liability turns out to be limited. Please use numerical in the example. Lets consider 4 owners, each one has 25% stake in the company & the total investment is say 1 lac INR.”
I receive a question on Quora which may interest readers of this Blog. The question is –
What is the procedure for inclusion of word ‘INDIA’ in the name of company?
My reply is as under –
Law related name of a company is governed with Section 4 of the Companies Act 2013 read with Rule 8. Under present law, there restriction related to inclusion of word “India” has been removed with effect from 1st April 2014.
Ministry of Corporate Affairs recently on 29th December 2016 came out with and notified the Companies (Incorporation) 5th Amendment Rules, 2016. These amendments came into force on 1st January 2017.
Posted in Chapter II - CA2013, Companies Act 2013
Tagged Ease of Doing Business, Form INC – 32, SPICe
I receive a question on Quora which may interest readers of this Blog. The question is –
Doing Business As (DBA) name for a Private Limited company in India?
Typically in US, we can have a company registered name as JP Morgan Chase Limited and they have a DBA as Chase which is very business friendly name. Can I have similar DBA name for a Private Limited Company in India?
Posted in Chapter II - CA2013, Companies Act 2013, Truth of Our Time
Tagged Companies Name, DBA Name, Doing Business As
I receive a question on Quora which may interest readers of this Blog. The question is –
My Reply –
A notification issued by Ministry of Corporate Affairs notified section 255 of the Insolvency and Bankruptcy Code, 2016. By virtue of notification of Section 255 of Insolvency and Bankruptcy Code, 2016; the Companies Act, 2013, stands amended in accordance with Schedule XI of the IBC2016 with effect from 15th November 2016. We shall have a short discussion here.
Posted in Chapter I - CA2013, Chapter II - CA2013, Chapter IV - CA2013, Chapter VI - CA2013, Chapter VII – CA2013, Chapter XIV - CA2013, Chapter XIX -CA2013, Chapter XV - CA2013, Chapter XVIII - CA2013, Chapter XX - CA2013, Chapter XXI - CA2013, Chapter XXIX - CA2013, Chapter XXVII - CA2013, Companies Act 2013
Ministry of Corporate Affairs notified by notification G.S.R. 936(E) on 1st October 2016 the Companies (Incorporation) Fourth Amendment Rules, 2016 amending the Companies (Incorporation) Rules, 2014 with effect from date of publication in official gazette means 1st October 2016. New rule 39 is being inserted with effect from 1st November 2016.
In this blog post we will discuss new rule 39.
Ministry of Corporate Affairs came out with 3rd amendment of the year to the Companies (Incorporation) Rules, 2013. The Companies (Incorporation) 3rd Amendment Rules, 2016 published in Official Gazette on 27th July 2016 and came into force from that date, is available online now. In this third blog post of 3 post series, we will discuss newly inserted rules 37 inserted by these amendment rules.
Ministry of Corporate Affairs came out with 3rd amendment of the year to the Companies (Incorporation) Rules, 2013. The Companies (Incorporation) 3rd Amendment Rules, 2016 published in Official Gazette on 27th July 2016 and came into force from that date, is available online now. In this second blog post of 3 post series, we will discuss these amendments in rules 28, 29, 30 and 36.
Posted in Chapter II - CA2013, Companies Act 2013
Ministry of Corporate Affairs came out with 3rd amendment of the year to the Companies (Incorporation) Rules, 2013. The Companies (Incorporation) 3rd Amendment Rules, 2016 published in Official Gazette on 27th July 2016 and came into force from that date, is available online now. In this first blog post of 3 post series, we will discuss these amendments in rules 3, 8, 13, 16 and 26.
Posted in Chapter II - CA2013, Companies Act 2013
Tagged Company name, subscribers, trade name
Yesterday late evening, I posted here about press release issued by Ministry of Corporate Affairs. Soon thereafter, two files uploaded on Official Gazette website with two notifications in each. In earlier post here today, we discussed establishment and jurisdiction of various NCLT benches.
In this post, we will have a bird’s eye view on Sections notified on 1st June 2016 related to NCLT.
Posted in Chapter I - CA2013, Chapter II - CA2013, Chapter IX - CA2013, Chapter VI - CA2013, Chapter VII – CA2013, Chapter XI - CA2013, Chapter XIV - CA2013, Chapter XV - CA2013, Chapter XXVII - CA2013, Companies Act 2013, CorpGov, Governance and Responsibility
Tagged Accounts, Annual General Meeting, Annual Return, Articles, Auditor, Board of Directors, Boards’ Report, class-action suits, Debentures, deposits, Deposits Creditors and Charges, General Meeting, Incorporation, Incorporation & Registration, Inquiry, INQUIRY AND INVESTIGATION, Inspection, Investigation, Members and Shareholders, Memorandum, National Company Law Appellate Tribunal, National Company Law Tribunal, NCLAT, NCLT, Oppression and Mismanagement, Shares and Securities, Statutory Audit
Government recently introduced the Companies (Amendment) Bill, 2016 to the Companies Act, 2013 proposes thirteen amendments in Section 2 related to definitions. Definition clauses always need contextual reading. Now, we will discuss these amendments in definitions.
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AishMGhrana 