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RENOUNCING OF SHARES UNDER RIGHT ISSUE

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 which is not dis-advantageous to the shareholders and company;

Forms and Register under Section 90

#CompanyAct2013 #company law

APPOINTMENT OF DIRECTORS

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) of the Act, states that “Save as otherwise expressly provided in this Act, every director shall be appointed by the company in general meeting”. This implies that there are certain exception when Directors can be appointed by the Board. In case of emergency and urgency, it may not be possible to conduct general meeting at a shorter notice. Therefore the power may be delegated to the Board through the articles of the Company to appoint directors of the Company on behalf of the shareholders.

CHECKLIST FOR SECTION 8 COMPANY

Definition-A Section-8 Company is a Company which

(a) has in its objects the promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object;

(b) intends to apply its profits, if any, or other income in promoting its objects; and

(c) intends to prohibit the payment of any dividend to its members

#section 8 company registration

Easy steps for Appointment of Auditor

#statutoryauditor #appointauditor #appointmentofauditor

MANAGERIAL REMUNERATION

Governing Sections: Payment of managerial remuneration is governed by following provisions under Companies Act 2013 Section 196 -Appointment of Managing Director, Whole Time Director or Managers Section 197 -Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits Section 198-Calculation of Profits to determine Net profit Appointment and Remuneration of Director Rules 2014 MODE OF PAYMENT OF REMUNERATION A director or a manger may be paid remuneration by way of monthly, partly or specified percentage of net profit.

#managerial remuneration

WHILE EXCHANGING LOANS CORPORATE SHALL ADHERE TO FOLLOWING SECTION AND THE RULES MADE THEREUNDERI Accepting Loan from other companiesIn pursuance of Section 179 -Power of Boards of Companies Act 2013 every company shall pass a Board Resolution to borrow moneyFurther in pursuance of Sec 180 -Restrictions on Power of Board and amendment thereofAny public

Any public company which borrow money and where the money to be borrowed, together with the money already borrowed by the company exceeds aggregate of its paid-up share capital and free reserves, than such company shall pass Special Resolution for such borrowing and file MGT -14 within 30 days of passing such resolution.

#corporate loans #public company #special resolution

ISSUE OF DUPLICATE SHARES CERTIFICATE

Sometime is it become mandatory for the shareholders to apply for the duplicate share certificate. The same may be required in following cases:

a. Old Certificate is destroyed;

b. Old share certificate is lost or misplaced;

Governing Provisions Issue of Duplicate Share Certificates are governed by following provisions:

a. Articles of Association of Company

b. Sec 46 of Companies Act 2013

c. Rule 6 Of Share Capital and Debenture Rules 2014

Trademark registration prevents your competitor to copy your Trade Name. Trademark registration in India gives you exclusive ownership over the mark and you can use Trademark symbol ™ after filing application and Trademark symbol ® can be used after final registration of your trademark. We at complianceship, helps the business owner to register their mark or names with Trademark authority.

#trademark registration #registertrademark #trademarkregistration

APPOINTMENT OF ADDITIONAL DIRECTOR - Complianceship

The Directors are the person who controls the day to day 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) of the Act, states that “ Save as otherwise expressly provided in this Act, every director shall be appointed by the company in general meeting”. This implies that there are certain exception when Directors can be appointed by the Board. In case of emergency and urgency, it may not be possible to conduct general meeting at a shorter notice. Therefore the power may be delegated to the Board through the articles of the Company to appoint directors of the Company on behalf of the shareholders.

Import Export Code (IEC) is alphanumeric registration number of the person engaged in the business of importing and exporting of goods. Every person doing the business of import and export is required to mandatorily have IE code. Earlier a unique 10 digit numeric code was issued by the department. However, post GST in order to align PAN and GSTIN with IEC, the Permanent Account Number of the applicant shall be the IEC.

#Import Export Code Registration #IEC Registration #Import Export Code

Process for Right Issue of Shares

#section62 #existingshareholders #sharestamping

Procedure to increase Authorised Share Capital

Every company after its registration whether its Public limited Company or private limited company, there are number of compliance which a company needs to comply on day to day basis. But after some time when the business of the company expands, then the company require fund for its expansion, and one of the way which available to company is to issue shares but in case the company is intending to issue share beyond increase its authorised share capital then it requires increasing the authorised share capital of the company.

Process to change registered office within the state

What does Registered Office Means?

Every Company must have one principal place of business where it carries on its business activity which is in case of Company known as registered office. The registered office is very important from the perspective of general public, shareholder, customer, vendors and for various other points of view. It is also important from the perspective of Companies Act, 2013, in the terms of section 7 of the Act, every company must have its registered office address from the date of commencement of business or within 15 days from the date of incorporation, whichever is earlier, in which all the official letters and document will be sent by any person, any government, or non- government or any regulatory body.

Planning to register a private limited company in India? Here we have provided Steps for Incorporation of Private Limited Company.

#Privatelimitedcompanyregistration #Privatelimitedcompany

Process to change the name of the company

Name of any company play a key role in signifying its importance and main objective for achievement of goal for which its being incorporated by the person. So it is very important for the owner of the business to take extra precautions and time to decide the name of the Company as it must depict its business objective and the nature of its business.

Sometime the name of the company does not reflect its business objective and the nature of business which an owner is carrying on and it such a circumstances it become vital for the owner to change the name of the company so that a layman can easily ascertain the nature of its business. Under the companies act, 2013, change of name of the company is governed by the section 13 of the Act, which regulates the process of alternation of Memorandum of Association of Companies.

Every Company in India, after its incorporation has to needs to comply basic mandatory compliances as per the Companies Act, 2013 such as conducting minimum number of Board Meetings, Annual Filing of the documents etc. All such compliances are required to be followed by all the Companies. Any non compliance will result in payment of huge penalties and fines and in some cases. We hereby provide services not only related to maintenance of minutes books and annual filing but also provide for maintenance of statutory registers, annual filing of financial documents and annual return, record and maintenance of transfer of shares. Last date of Filing of AOC 4 - 30-10-2019

#rocfiling #rocfilingforms #rocannualfiling

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