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COMPARISON OF CHANGES IN COMPANIES ACT ON PRIVATE COMPANIES

  CS Sandeep Kumar Jain     0000-00-00 00:00:00

  COMPARISON OF CHANGES IN COMPANIES ACT ON PRIVATE COMPANIES POINTS OF COMPARISON COMPANIES ACT,2013 COMPANIES ACT,1956 Appointment of key managerial personnel All companies, including private companies, having paid up capital of Rs. 5 Crores or more are required to appoint whole time KMP i.e.: MD/CEO/Manager/WTD; Company Secretary; and CFO [Section 203] No mandatory requirem.....

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ROLE OF COMPANY SECRETARY

  CS Ashish Gupta     0000-00-00 00:00:00

ROLE OF COMPANY SECRETARY UNDER THE COMPANIES ACT,2013 The new Companies Act, 2013 has strengthened the position of Company Secretary (CS) and has elevated the status as “Key Managerial Personnel”. Besides ensuring compliances under various laws, CS has to assist the management in taking a total view of all issues arising in the company. CS is not merely a luxury for companies but a n.....

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MANAGERIAL REMUNERATION AND APPOINTMENT

  CS Sandeep Kumar Jain     0000-00-00 00:00:00

APPONITMENT OF MANAGING DIRECTOR , WHOLE TIME DIRECTOR AND MANAGER AND MANAGERIAL REMUNERATION   Appointment of Managing Director, Whole-Time Director or Manager  The appointment of Managing Director/ Whole Time Director/ Manager shall be approved in general meeting by ordinary resolution and if appointment is not in accordance with schedule V (Schedule XIII under the Companies Act, 1.....

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LOANS AND INVESTMENTS BY COMPANY- pursuant to sec 186 of The Companies Act,2013

  CS Manoj Maheshwari     0000-00-00 00:00:00

SECTION 186 “LOANS AND INVESTMENTS BY COMPANY”   BASIC PROVISIONS (1) Without prejudice to the provisions contained in this Act, a company shall unless otherwise prescribed, make investment through not more than two layers of investment companies: Provided that the provisions of this sub-section shall not affect,— (i) a company from acquiring any other company incorpora.....

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RESTRICTIONS ON POWER OF BOARD

  CS C. M. Bindal77     0000-00-00 00:00:00

RESTRICTIONS ON POWER OF BOARD    BRIEFING ON THE NEW PROVISIONS The Board of Directors of a company shall exercise the following powers only with the consent of the company by a special resolution, namely:— To sell, lease or otherwise dispose of the whole or substantially the whole of the undertaking* of the company or where the company owns more than one undertaking, of the wh.....

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MEETINGS OF BOARD AND ITS POWERS

  CS Manoj Maheshwari     0000-00-00 00:00:00

  MEETINGS OF BOARD AND ITS POWERS   BASIC CONCEPTS Frequency and Number of eetings Every company shall hold the 1ST meeting of the Board of Directors (BOD) within 30 days of the date of its incorporation. Hold a minimum number of 4 meetings every year in such a manner that not more than 120 days shall elapse between two consecutive meetings of the Board. The directors may particip.....

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STATUTORY AUDITOR

  CA Pankaj Wadhwani     0000-00-00 00:00:00

STATUTORY AUDITOR UNDER THE COMPANIES ACT, 2013   Section 139 APPOINTMENT OF AUDITORS Subject to the provisions of this Chapter, Every Company shall, at the first annual general meeting (AGM), appoint an individual or a firm as an auditor who shall hold office from the conclusion of that meeting till the conclusion of its sixth annual general meeting. However matter relating t.....

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ACCOUNTS AND REPORTS

  CS Sandeep Kumar Jain     0000-00-00 00:00:00

ACCOUNTS AND REPORTS   BOOKS OF ACCOUNTS Every company shall now be required to prepare and keep at its registered office financial statement along with books of account and other relevant books and papers for every financial year. The books of account and other books and papers maintained by the company within India shall be open for inspection at the registered office of the company or at .....

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DECLARATION OF DIVIDEND

  CS Ashish Gupta     0000-00-00 00:00:00

DECLARATION OF DIVIDEND   DECLARATION OF DIVIDEND OUT OF RESERVES No dividend shall be declared or paid by a company from its reserves other than free reserves. The rate of dividend declared shall not exceed the average of the rates at which dividend was declared by the Company in the 3 years (previously 5 years) immediately preceding that year.   INTERIM DIVIDEND The board of directo.....

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CHARGES

  CS C. M. Bindal     2018-03-01 07:15:17

CHARGES   REGISTERATION OF CHARGES BASIC PROVISIONS Company creating a charge within or outside India, on its property or assets or any of its undertakings, whether tangible or otherwise, and situated in or outside India, to register the particulars of the charge signed by the company and the charge holder together with the instruments creating such charge in Form No. 6.1 with the fee as spe.....

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