BLOGS

DETAILED NOTE ON BONUS ISSUE DEFINITION
n issue of bonus shares is referred to as a bonus share issue or bonus issue. A bonus issue is usually based upon the number of shares that shareholders already own. While the issue of bonus shares increases the total number of shares issued and owned, it does not change the value of the company.        ... Read More
ISSUE OF SHARES THROUGH RIGHT ISSUE
EFINITIONOF RIGHT ISSUE ‘Right Issue’ means offering shares to existing members in proportion to their existing shareholding. The object is, of course, to ensure equitable distribution of Shares and the proportion of voting rights is not affected by issue of Fresh shares. A rights issue is an invitation to existing shareholders to purchase additional new shares i... Read More
PROCEDURE FOR REMOVAL OF DIRECTOR
.        Ensure that a special notice for the removal of a director is furnished by number of members in accordance with the section 115 of Companies Act, 2013 to the company at least 14 days before the meeting at which it is to be moved. 2.        (a) Ensure that the notice for removal of a director is for a director o... Read More
ISSUUANCE OF EQUITY SHARES THROUGH SWEAT EQUITY
ntroduction- What is sweat equity shares? Sweat equity shares refers to equity shares given to the company’s employees on favorable terms, in recognition of their work. Sweat equity shares is one of the modes of making share based payments to employees of the company. The issue of sweat equity shares allows the company to retain the employees by rewarding them for their services. Sweat e... Read More
PROCEDURE FOR ISSUE OF SHARES THROUGH PRIVATE PLACEMENT
NTRODUCTION Private placement can be explained as a means of raising capital by the companies without going for public issues. Public Issues like Initial Public Offering and Further Public Opening are means of raising capital by the companies. DEFINITION A private placement is a sale of stock shares or bonds to pre-selected investors and institutions rather than o... Read More
post img
OPC has to convert into Private or public limited company within 6 months
nbsp;OPC shall be required to convert itself, within six months of the date on which its paid up share capital is increased beyond fifty lakh rupees and the last day of the relevant period during which its average annual turnover exceeds two crore rupees as the case may be, into either a private company with minimum of two members and two directors or a public company with minimum of seven members... Read More
post img
Mandatory Conversion of One Person Company into Private Limited or Public Company
ule 6 of the Companies (Incorporation) Rules, 2014 as amended vide the Companies (Incorporation) Amendment Rules, 2015, w.e.f. 1-5-2015 provides that where the paid up share capital of an OPC exceeds fifty lakh rupees and its average annual turnover during the relevant period exceeds two crore rupees, it shall cease to be entitled to continue as an OPC.... Read More
post img
Restriction on alteration in the Memorandum and Articles of a charitable company licensed u/s 8
ection 8(4)(a) provides that a company that has received a licence under the section, shall not alter the provisions of its Memorandum as regards its objects except, with the previous approval of the Central Government [Powers delegated to the Registrar of Companies by Notification No. 1353(E), dated 21st May, 2014 except for alteration of memorandum in case of conversion into another kind of comp... Read More
post img
Main condition for Section 8 Company registration
he objective of section 8 of the Companies Act, 2013 is to provide special benefits and privileges to such organisations, which are formed for the following purposes and where it is proved to the satisfaction of the Central Government that a person or an association of persons proposed to be registered under thisAct as a limited company—(a) has in its objects the promotion of commerce, art, scie... Read More
post img
Requirements of minimum paid-up capital
y the Companies (Amendment) Act, 2015 effective from 29th May, 2015 the requirement of minimum paid up capital for a private limited company of `1 Lakh and for a public limited company of `5 Lakhs has been removed from the definition of the Companies under section 2(68) and 2(71) of the Companies Act, 2013. ... Read More
post img
Can OPC Change in the nominee by the member of OPC?
nbsp;It has been provided that the subscriber/member of OPC may at any time change the name of the nominated person by giving notice to the Registrar. It shall be the duty of the subscriber/member of OPC to intimate the company the change, if any, in the name of the person nominated by him by indicating in the memorandum or otherwise.   For the purposes of third proviso of section 3... Read More
post img
Change in the name of person nominated in the Memorandum shall not be deemed to be alteration in the Memorandum of Association
ny such change in the name of the nominee person in the Memorandum of Association of the OPC shall not be deemed to be an alteration of the memorandum.... Read More
post img
Can we Change in the nominee by the member of OPC?
nbsp;It has been provided that the subscriber/member of OPC may at any time change the name of the nominated person by giving notice to the Registrar. It shall be the duty of the subscriber/member of OPC to intimate the company the change, if any, in the name of the person nominated by him by indicating in the memorandum or otherwise. The subscriber or member of a OPC may, by intimating i... Read More
post img
What are the Liabilities of the subscriber in case of One Person Company?
nbsp;The liability of the member of the OPC may be limited or unlimited, and the Memorandum of Association of the OPC shall state,—   (i) in the case of a company limited by shares, that liability of its member is limited to the amount unpaid, if any, on the shares held by them; and (ii) in the case of a company limited by guarantee, the amount up to which member undertakes to... Read More
post img
No need for address in India of Foreign promoters incorporating company in India
nbsp;There is no pre-condition for foreign promoters to furnish local address in India for seeking registration and incorporation of a limited company in India.   It was held that there was nothing in the Act or the applicable Rules which requires the foreign promoters to provide a local address. [Dmitry Rosnin v RoC decided on 16-2-2013, Bombay High Court] However, at least one di... Read More
post img
Is roll checks are mandatory for Directors inMinistry of Corporate Affairs website
he digital signatures are required to be registered at the website of the MCA for various category like director, professionals, etc. and need to fill up particulars online at the MCA portal, called roll check.   Without complying with the requirement of Roll Check, any documents signed digitally shall be considered, as defects in the particulars of the applicants, if any, will ap... Read More
post img
What are the liabilities on members for having below minimum members’ strength?
he MCA vide the Companies (Amendment) Act, 2017 has inserted new section 3A w.e.f. 9-2-2018, vide Notification No. SO 630(E), dated 9-2-2018 to put liability on all the existing members of the company, in case the company defaults in minimum number of members’ criteria. If at any time the number of members of a company is reduced, in the case of a public company, below seven, in the case of a pr... Read More
post img
Is Digital Signatures Certificates are mandatory in case of Company registration?
very Form and return prescribed under the Companies Act, 2013 needs to be filed with the digital signature of the managing director or director or manager or secretary of the Company, therefore, it is compulsorily required to obtain digital signatures of at least one director to digitally sign the e-Form (SPICe) 32 (however, if the name reservation is applied through Form RUN there is no requireme... Read More
post img
Requirement for Having Director Identification Number
s per proviso to section 152(3) of the Companies Act, 2013 no company shall appoint or re-appoint any individual as director of the company unless he has been allotted a Director Identification Number (DIN) under section 154 or such other identification number as the Central Government may prescribe.Section 152(3) provides that every individual, intending to be appointed as director of a company s... Read More

Related Post By MyCompanywala

section shape

DETAILED NOTE ON BONUS ISSUE DEFINITION


An issue of bonus shares is referred to as a bonus share issue or bonus issue. A bonus issue is usually based upon the number of shares that shareholders already own. While the issue of bonus shares increases the total number of shares issued and owned, it does not change the value of the company.                              1) The source out...... Read More

ISSUE OF SHARES THROUGH RIGHT ISSUE


DEFINITIONOF RIGHT ISSUE ‘Right Issue’ means offering shares to existing members in proportion to their existing shareholding. The object is, of course, to ensure equitable distribution of Shares and the proportion of voting rights is not affected by issue of Fresh shares. A rights issue is an invitation to existing shareholders to purchase additional new shares in the company. This type of issue gives existing shareholders securities called rights. ...... Read More

PROCEDURE FOR REMOVAL OF DIRECTOR


1.        Ensure that a special notice for the removal of a director is furnished by number of members in accordance with the section 115 of Companies Act, 2013 to the company at least 14 days before the meeting at which it is to be moved. 2.        (a) Ensure that the notice for removal of a director is for a director other than a director appointed by the Tribunal under section 242 of the Companies Act, 2013. &n...... Read More

ISSUUANCE OF EQUITY SHARES THROUGH SWEAT EQUITY


Introduction- What is sweat equity shares? Sweat equity shares refers to equity shares given to the company’s employees on favorable terms, in recognition of their work. Sweat equity shares is one of the modes of making share based payments to employees of the company. The issue of sweat equity shares allows the company to retain the employees by rewarding them for their services. Sweat equity shares rewards the beneficiaries by giving them incentives in lieu of their contribution tow...... Read More

PROCEDURE FOR ISSUE OF SHARES THROUGH PRIVATE PLACEMENT


INTRODUCTION Private placement can be explained as a means of raising capital by the companies without going for public issues. Public Issues like Initial Public Offering and Further Public Opening are means of raising capital by the companies. DEFINITION A private placement is a sale of stock shares or bonds to pre-selected investors and institutions rather than on the open market. It is an alternative to an initial public offering (IPO) for a compan...... Read More

OPC has to convert into Private or public limited company within 6 months


post img

 OPC shall be required to convert itself, within six months of the date on which its paid up share capital is increased beyond fifty lakh rupees and the last day of the relevant period during which its average annual turnover exceeds two crore rupees as the case may be, into either a private co...... Read More

Mandatory Conversion of One Person Company into Private Limited or Public Company


post img

Rule 6 of the Companies (Incorporation) Rules, 2014 as amended vide the Companies (Incorporation) Amendment Rules, 2015, w.e.f. 1-5-2015 provides that where the paid up share capital of an OPC exceeds fifty lakh rupees and its average annual turnover during the relevant period exceeds two crore rupe...... Read More

Restriction on alteration in the Memorandum and Articles of a charitable company licensed u/s 8


post img

Section 8(4)(a) provides that a company that has received a licence under the section, shall not alter the provisions of its Memorandum as regards its objects except, with the previous approval of the Central Government [Powers delegated to the Registrar of Companies by Notification No. 1353(E), dat...... Read More

Main condition for Section 8 Company registration


post img

The objective of section 8 of the Companies Act, 2013 is to provide special benefits and privileges to such organisations, which are formed for the following purposes and where it is proved to the satisfaction of the Central Government that a person or an association of persons proposed to be regist...... Read More

Requirements of minimum paid-up capital


post img

By the Companies (Amendment) Act, 2015 effective from 29th May, 2015 the requirement of minimum paid up capital for a private limited company of `1 Lakh and for a public limited company of `5 Lakhs has been removed from the definition of the Companies under section 2(68) and 2(71) of the Companies A...... Read More

Can OPC Change in the nominee by the member of OPC?


post img

 It has been provided that the subscriber/member of OPC may at any time change the name of the nominated person by giving notice to the Registrar. It shall be the duty of the subscriber/member of OPC to intimate the company the change, if any, in the name of the person nominated by him by in...... Read More

Change in the name of person nominated in the Memorandum shall not be deemed to be alteration in the Memorandum of Association


post img

Any such change in the name of the nominee person in the Memorandum of Association of the OPC shall not be deemed to be an alteration of the memorandum.......

Can we Change in the nominee by the member of OPC?


post img

 It has been provided that the subscriber/member of OPC may at any time change the name of the nominated person by giving notice to the Registrar. It shall be the duty of the subscriber/member of OPC to intimate the company the change, if any, in the name of the person nominated by him by i...... Read More

What are the Liabilities of the subscriber in case of One Person Company?


post img

 The liability of the member of the OPC may be limited or unlimited, and the Memorandum of Association of the OPC shall state,—   (i) in the case of a company limited by shares, that liability of its member is limited to the amount unpaid, if any, on the shares held by them; an...... Read More

No need for address in India of Foreign promoters incorporating company in India


post img

 There is no pre-condition for foreign promoters to furnish local address in India for seeking registration and incorporation of a limited company in India.   It was held that there was nothing in the Act or the applicable Rules which requires the foreign promoters to provide a l...... Read More

Is roll checks are mandatory for Directors inMinistry of Corporate Affairs website


post img

The digital signatures are required to be registered at the website of the MCA for various category like director, professionals, etc. and need to fill up particulars online at the MCA portal, called roll check.   Without complying with the requirement of Roll Check, any documents si...... Read More

What are the liabilities on members for having below minimum members’ strength?


post img

The MCA vide the Companies (Amendment) Act, 2017 has inserted new section 3A w.e.f. 9-2-2018, vide Notification No. SO 630(E), dated 9-2-2018 to put liability on all the existing members of the company, in case the company defaults in minimum number of members’ criteria. If at any time the number ...... Read More

Is Digital Signatures Certificates are mandatory in case of Company registration?


post img

Every Form and return prescribed under the Companies Act, 2013 needs to be filed with the digital signature of the managing director or director or manager or secretary of the Company, therefore, it is compulsorily required to obtain digital signatures of at least one director to digitally sign the ...... Read More

Requirement for Having Director Identification Number


post img

As per proviso to section 152(3) of the Companies Act, 2013 no company shall appoint or re-appoint any individual as director of the company unless he has been allotted a Director Identification Number (DIN) under section 154 or such other identification number as the Central Government may prescrib...... Read More

What our customers are saying about MyCompanywala?

section shape

Copyright © 2018 MYCOMPANYWALA all right reserved.

Hello ! I am Dipesh,Your Consultant from Mycompanywala and I am here to help you.

What are you looking for?

1. Company Incorporation?
2. DOT OSP Registration
3. Trademark Registration?
4. Other Services ?