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Consolidation of shares [Section 94(1)(b) Companies Act, 1956) Consolidation is the process of combining a specified number of shares into one new share; the new share has to be of a nominal value equal to the aggregate of the shares so consolidated. This power has also to be exercised in the general meeting in the manner authorized by the articles. […]
Continue reading »One Person Company(OPC) With increasing the use of information technology and computers, emergence of the service sector, it is time that the entrepreneurial capabilities of the people are given an outlet for participation in economic activity. Such economic activity may plays as a vital role in the innovation of an economic person in the form of a firm or a […]
Continue reading »Scheme of revival and rehabilitation: The company administrator shall prepare or cause to be prepared a scheme of revival and rehabilitation of the sick company after considering the draft scheme filed along with the application under section 254. A scheme prepared in relation to any sick company under sub-section (1) may provide for any one or more of the following […]
Continue reading »Electronic filing of documents – Necessary factors on LLP Registration Section 68(1) of the LLP Act provides that any document required to be filed, recorded or registered under this Act may be filed, recorded or registered in such manner and subject to such conditions as may be prescribed. Rule 36 of the LLP Rules contains provisions relating to electronic filing […]
Continue reading »“Corporate Social Responsibility (CSR)” means and includes but is not limited to:- Projects or programs relating to activities specified in Schedule VII to the Act; or Projects or programs relating to activities undertaken by the board of directors of a company (Board) in pursuance of recommendations of the CSR Committee of the Board as per declared CSR Policy of the […]
Continue reading »Introduction to Company Registration A Company is a big dream of every entrepreneurs who they do their business in the start-up level. Registering your company in a right place is an essential part of your business. We Solubilis provide you right solutions of your company related issues. Here, Company registration process made easy while compared to others. A company is […]
Continue reading »Company [Section 3(1) of Companies Act, 1956] The definition of “Company” in sub-section (1)(1) of section 3 of the 1956 Act, is subject to the other definitions given in other provisions of the 1956 Act for the limited purposes stated therein. In Telesound India Ltd., it was held that though the word companies is generally defined in section 3 of […]
Continue reading »Companies Act, 2013: Section 2(68) Section 2(68) of the 2013 Act was notified vide SO 2754 (E) and has been in effect from 12.09.2013. A clarification was issued vide General Circular no 15/2013 dated 13th September, 2013 whereby all memorandum and articles of association received by the Registrar up to 11th September, 2013, for registration of a private company, could […]
Continue reading »Companies Act, 1956: Section 63 Section 63 of the 1956 Act provides for criminal liability for mis-statement, which was fine of Rs. 50,000/ or imprisonment of up to two years or both. The penalty was enhanced from Rs.5000 to Rs.50, 000/ vides the Companies (Amendment) Act, 2000. The Companies (Amendment) Act, 2000 also empowered SEBI to administer the provisions of […]
Continue reading »Powers of the chairman : conduct, validity and adjournment of meetings The extent to which the chairman of a meeting can lawfully adjourn the meeting is a question of very strategic importance in the conduct of meetings. The law on this point is a mixture of two currents according to one of which a meeting cannot be adjourned without its […]
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