What is Section 185 of Companies Act, 2013?
Section 185 of the Act provides the conditions and restrictions of granting loans to the directors. Every company must follow the conditions laid down in this Section before granting loans or giving guarantee or security in connection with any loan.14-Apr-2022
—(1) Where the instrument creating or modifying a charge is not filed within a period of three hundred days from the date of its creation (including acquisition of a property subject to a charge) or modification and where the satisfaction of the charge is not filed [4] [within a period of three hundred days] from the
What is Section 80 of the Companies Act?
80. Power to issue redeemable preference shares. (1) Subject to the provisions of this section, a company limited by shares may, if so authorised by its articles, issue preference shares which are, or at the option of the company are to be liable, to be redeemed: 1.
(2) Every notice of a meeting shall specify the place, date, day and the hour of the meeting and shall contain a statement of the business to be transacted at such meeting.
What is Section 186 of Companies Act?
Section 186 provides for the loans and investments that could be made by the company. It states that the company could make investments through more than two layers of the investment companies.
(1) The Board of Directors of every listed company every listed public company and such other class or classes of companies, as may be prescribed, shall constitute an Audit Committee.
What is Section 89 of Companies Act, 2013?
Section 89 of the Companies Act, 2013 deals with the concept of beneficial interest in a share which obligates every person acquiring/ holding beneficial interest in a share as well as the legal owner to make a declaration to the company in respect of such beneficial interest.
SECTION 77. DUTY TO REGISTER CHARGES, ETC. Provided also that any subsequent registration of a charge shall not prejudice any right acquired in respect of any property before the charge is actually registered.
What is Section 173 of Companies Act, 2013?
Section 173(1) of the Act provides that Every company shall hold the first meeting of the Board of Directors within thirty days of the date of incorporation and thereafter hold a minimum number of four meetings of its Board of Directors every year in such manner that not more than one hundred and twenty days shall 01-Feb-2022
A company is referred a to as Section 8 Company when registered as a Non-Profit Organization (NPO) i.e. when it the has motive of promoting arts, commerce, education, charity, protectithe on of environment, sports, science, research, social welfare, religion and intends to use its profits (if any) or other income for 19-Aug-2022
What is Section 68 of Companies Act, 2013?
Provided that no buy-back of any kind of shares or other specified securities shall be made out of the proceeds of an earlier issue of the same kind of shares or same kind of other specified securities.
Section 55 of Companies Act, 2013 – Issue and Redemption of Preference Shares. (1) No company limited by shares shall, after the commencement of this Act, issue any preference shares which are irredeemable.
What is the duration of short notice?
Shortened Notice Period:- Proviso to Section 101(1) allows a Company to hold/call for a shareholders' meeting in a shorter notice period – i.e. of less than 21 days, provided consent is given in writing or by electronic mode by not less than 95% of the members entitled to vote at such meeting.01-Aug-2018
The company must give a clear 21 days' notice to its members for calling the AGM. The notice should mention the place, the date and day of the meeting, and the hour at which the meeting is scheduled. The notice should also mention the business to be conducted at the AGM.07-Apr-2022
What is clear days notice?
meeting 'within five working days' and thereafter 'send' the notice convening the meeting 'at least before clear seven days'. Therefore working' and 'clear' days. A 'clear day' would mean a working or non working day, provided the day is otherwise.
INTERPRETATION OF SECTION 188 OF COMPANIES ACT, 2013 Section 188 requires a company to obtain approval of the Board and of the members, in certain situations, prior to entering of any transaction or agreement with a related party. Section 188 is applicable to both private and public companies.
What is Section 135 of Companies Act, 2013?
Section 135 (1) Every company having net worth of rupees five hundred crore or more, or turnover of rupees one thousand crore or more or a net profit of rupees five crore or more during immediately preceding financial year shall constitute a Corporate Social Responsibility Committee of the Board consisting of three or
Section 8 company are not allowed to raise funds by way of deposits but they can accept donations from the general public.
What is Section 144 of Companies Act, 2013?
Proviso to sub-section (1) of section 144 of the Act provides that an auditor or audit firm who or which has been performing any non-audit services on or before the commencement of this Act shall comply with the provisions of this section before the closure of the first financial year after the date of such
(1) The financial statement, including consolidated financial statement, if any, shall be approved by the Board of Directors before they are signed on behalf of the Board by the chairperson of the company where he is authorised by the Board or by two directors out of which one shall be managing director, if any, and
What is Section 117 of Companies Act, 2013?
(2) If any company fails to file the resolution or the agreement under sub-section (1) before the expiry of the period specified therein, such company shall be liable to a penalty of ten thousand rupees and in case of continuing failure, with a further penalty of one hundred rupees for each day after the first during
What is Section 185 of Companies Act, 2013?