Section 96 of the Companies Act, 2013 provides that every company other than a one person company shall in each year hold an Annual General Meeting of its shareholders and not more than fifteen months shall elapse between the date of one annual general meeting of the company and that of the … [Read more...]
Activation of DIN Of Disqualified Directors: Writ Petition And Interim Stay Order
In the year 2017, Ministry of Corporate Affairs by taking the ambit of Section 248 which talks about “Power of Registrar to remove name of company from register of companies” struck off more than 2 lakh companies which were not filing its returns for the last many years and the Government was of the … [Read more...]
Transfer of Shares from Non-residents to Residents
Under Indian foreign exchange regulations, general permission is available for transfer of shares / convertible debentures between non-residents (“NR”) and Indian residents (“IR”) by way of gift or sale under private arrangement. Further, a non resident (other than non-resident Indian (“NRI”) and … [Read more...]
Guidelines for starting an MLM Business
What is Multi-Level Marketing Company (MLM Company)? MLM (Multi-level marketing company) is a marketing promotional strategy in which a sales person sells the products or services for particular MLM business and recruits new sales promoters under his/ her downline to further sales of products and … [Read more...]
Procedure of Revival And Restoration Of Struck Off Name Of Company via NCLT Route
OVERVIEW: Over 1.62 lakh companies have not been carrying out business activities for long have been deregistered and a series of action against such shell companies have been taken, said the Minister of Finance, Mr. Arun Jaitely. Registrar of Companies (ROC), by the virtue of power conferred … [Read more...]
Foreign Direct Investment – FDI: An Indian Perspective
Foreign direct investment (FDI) is an investment made by any company or an individual in the business concern of another country with a motive to start any business in other country or to become partner/ owner in the business of other country. Example: A citizen or a company in America when invest … [Read more...]
Registration under MSME as Small/ Medium Scale Industries
The Government of India has enacted the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006. MSME stands for micro, small and medium enterprises and any enterprise that falls under any of these three categories. MSME enterprises are the backbone of any economy and are an engine of … [Read more...]
Incorporation Of Nidhi Companies
The Dictionary Meaning of Nidhi in Indian Context “In the Indian context / language means “TREASURE”. However, in the Indian financial sector it refers to any mutual benefit society notified by the Central / Union Government as a Nidhi Company. Nidhi Companies are created mainly for cultivating the … [Read more...]
Matters To Be Undertaken By NCLT
W.E.F. June 01, 2016 Government constituted the Benches of National Company Law Tribunal and hence, the Central Government vide Notification No. S.O. 1934(E) subject to the provisions of Companies Act, 2013, has declared 01.06.2016 as the date on which the provisions of the companies act shall come … [Read more...]
Notices by ROC U/S. 206 of The Companies Act, 2013 Asking Information of CSR
Ministry of Corporate Affairs seems to be serious about funding of CSR Money. As all the companies are, now a days, being asked by their concerned Registrar of Companies, by sending notice under section 206, to furnish the information/ documents specifically relating to CSR i.e. spending of CSR … [Read more...]