Companies Act – Page 2 – Neeraj Bhagat & Co.

April 8, 2020 / Companies Act

All about Inter-Corporate Loans and Investments made by Company

ALL ABOUT INTER-CORPORATE LOANS AND INVESTMENTS MADE BY THE COMPANY UNDER COMPANIES ACT, 2013

COMPANY
> Gives Loan to any person

> Investment in Body Corporate

> Provides Security to any person

> Provides Guarantee to any person

Unanimous-Approval-of-Board-of-Directors

–

Important Note: – The word “person” does not include any individual who is in the employment of the company

Cases where Special Resolution is not required by the Company even when the above said limits exceeded:

> Where a loan or …

April 8, 2020 / Companies Act

Compliance Chart for Preferential allotment of shares

Points to remember

Issue should be authorized by Articles of Association of the Company.

Only fully paid securities to be issued and the following securities can be issue under preferential allotment.

Issuance of Equity shares.

Issuance of Fully or partly convertible debentures

Issuance of any other securities convertible into equity shares.

The preferential issue can be offered to person other than equity shareholders of the Company and prepare a list of persons (not exceeding 200 in a financial year for …

April 8, 2020 / Companies Act

Post Incorporation Compliances For Private Limited Companies

Article explains Post Incorporation Compliances For Private Limited Companies which includes Compliances under Companies Act, 2013, Compliances under GST Law, Compliances under FEMA, RBI/FDI Reporting and Compliances with DGFT (Director General of Foreign Trade).

Part I: Compliances under Companies Act, 2013

♠ Hold first Board Meeting of the Company within 30 days from the date of Incorporation to discuss the agenda as written below in explanation I

♠ Opening of Bank Account within 60 days from the date of Incorporation…

April 8, 2020 / Companies Act

Conversion of Company into LLP

Limited Liability Partnerships (LLP) are emerging ever since the introduction of the Companies Act, 2013 as it is a form of business entity, which allows individual partners to be free from the concept of joint liability of partners in a partnership firm. LLPs are preferred form of business as it is an alternative corporate business vehicle that provides the benefits of limited liability of a company and allows its members the flexibility of organizing their internal management on the basis …

April 8, 2020 / Companies Act

Significant Beneficial Ownership Rules (SBO Rules) dated 8th February, 2019

Every significant beneficial owner shall file a declaration in Form No. BEN-I to the company in which he holds the significant beneficial ownership within thirty days in case of any change in his significant beneficial ownership.

‘significant beneficial owner‘ in relation to a reporting company means an individual referred to in sub-section (1) of section 90, who acting alone or together, or through one or more persons or trust, possesses one or more of the following rights …

April 8, 2020 / Companies Act

Appointment of Auditors for Companies other than Government Companies

For a newly incorporated Company:
The Board within 30 days from the date of incorporation of the Company, shall appoint the first auditor of the Company who shall hold office of the statutory auditor from the conclusion of that Board Meeting till the conclusion of First AGM of the Company and is liable to sign the Financial statement for the First Financial Year of the Company.

For the appointment of auditor for Subsequent to First Auditor/ already incorporated Companies:
As …

April 8, 2020 / Companies Act

All about Contribution in Limited Liability Partnership (LLP)

Form/Manner of Capital contribution

As per the provisions of Section 32 of Limited Liability Partnership Act, 2008, contribution of a partner may consists of tangible, movable or immovable or intangible property or other benefit to the limited liability partnership, including money, promissory notes, other agreements to contribute cash or property, and contracts for services performed or to be performed. The monetary value of contribution of each partner shall be disclosed in the accounts of LLP in the prescribed manner.

Obligation

…

April 8, 2020 / Companies Act

Mandatory Compliances for a Private Limited Company in India

Although Private Limited Company is the most popular form of starting a business, there are various compliances which are required to be followed once your business is incorporated.

Managing the day to day operations of your business along with complying the corporate laws can be little taxing for any entrepreneur. Hence, it is essential to take help of a professional and also understand such legal requirements to ensure timely fulfilment of compliances, without any levy of interest or penalty.

Recently, …