Agenda: Items of business to be covered in the First Board Meeting of any Company

On receiving the Certificate of Incorporation of the Company, the first Board Meeting should be held within 30 days to be calculated from the date of incorporation......

The WWH of a Company’s Nameplate – Where, What and How

The Companies Act 2013 (the Act), has prescribed in detail the nuances of a Company’s Nameplate. Broadly described, these are covered under 3 major categories: Where, What and How....

Company letterhead - Content is as Important as Design

We spend so much time designing our Company’s letterhead: the logo, the colors, the elements, design, paper quality, so on so forth. that, we often forget the ‘content’ that should be in the letterhead........

Should a Company opt for a Common Seal?

Common Seal has not been defined anywhere in the Companies Act, 2013 nor was it defined in the erstwhile Companies Act, 1956.

But through....

What is the process to call a Board Meeting?

All the Directors of the Company together form the Board of Directors of the Company. The Company is run by this Board of Directors. All decisions are taken by passing .....

What should be the 1st financial year of a newly incorporated Company?

“Financial Year"

For any company or body corporate: 
means the period ending on the 31st day of March every year.....

When to hold a Company’s Annual General Meeting (AGM)

Every Company, other than a One Person Company (OPC) has to hold an Annual General Meeting (AGM).

The calculation of the date to hold an AGM is like a puzzle........

Annual Filing of Forms by Companies

It is that time of the year when you have to bring your house in order. The place where you live is getting cleaned for ‘Diwali’ and .....

OPC-Annual Filing

One Person Company (OPC) means a company which has only one person as a member. 

Such a Company may have more than one Director on its Board of Directors....

Do I Always Need To Get My Books Of Accounts Audited?

Audit as its name suggests is an inspection of the books of accounts and making a report by an independent auditor. Every entrepreneur while operating its business has to always keep in mind the audit of the books of accounts for its business or profession. Audit of the books of accounts is governed by the laws under which books of accounts are required to be maintained ......

Benefits Of MSME Registration

What is MSME?

The Government of India on 2nd July 2021, revised the guidelines for MSMEs. Retail and Wholesale trade has now been included as Micro, Small and Medium Enterprises....

Should you file income tax return if your income is not taxable

Every individual, who is an Indian citizen and whose gross total income exceeds the taxable limit in a financial year, is required to file Income Tax Return ....

Do I Always Need To Maintain Books Of Accounts?

Each and every entrepreneur, once he/she starts their business or profession, should always keep in mind .....

Maximum Directorships an Individual Can Hold in India

We come across many people who are appointed as Directors in more than 50 companies. This blog makes an attempt to decode the maximum number of companies in which an individual can hold directorship......

Authorised Capital & Paid-up Capital Decoded

Introduction

The term ‘Capital’ has a variety of meanings. It may mean one thing to an economist, another to an accountant, while another to a businessman or a lawyer. A layman views capital as the money, which a company has raised by issue of its shares.....

APOSTILLE- meaning and method

History - In 1961, many countries joined together to create a simplified method of “legalizing” documents for universal recognition. Members of the conference, referred to as the Hague Convention, adopted a document referred to as an Apostille that would be recognized by all member countries.....

Can a company which has revenue from operations in previous year, go in for strike off under section 248 of the Companies Act 2013

The Companies Act 2013 provides for the strike-off of a company that is not carrying out any business activities or has failed to comply with its statutory obligations. Section 248 of the Act specifies the circumstances under which a company may be struck off from the register of companies maintained by the Registrar of Companies......

If the company does not hold the AGM of the company, then how is the AGM held?

As per the Companies Act 2013, every company is required to hold an Annual General Meeting (AGM) each year within six months from the end of the financial year. .....

Can the subscribers of the company be the same person in different capacities?

Yes, it is possible for an individual to be a subscriber of a company in different capacities. For example, a person may be a subscriber as an individual and also as a representative of a business or organisation....

Is valuation of the shares of a private company required if the company goes in for a rights issue

Valuation of Shares under Companies Act, 2013

The provisions related to the valuation of shares under the Companies Act, 2013 are primarily contained in Section 62 of the Act. These provisions apply to all companies, whether private or public....

MCA V3

Ministry of Corporate Affairs (MCA)

Earlier known as the Department of Company Affairs in 1950, then renamed as Ministry of Commerce till 2004. It acquired the name Ministry of Corporate Affairs (MCA) in 2007 which is still in continuance....

Are investments in Mutual Funds 'investments' u/s 186?

Basic provisions of Section 186:

A company cannot directly or indirectly give a loan, guarantee or provide security to any person or other body corporate or or invest in the securities of any other body corporate,, if the amount of the loan or investment exceeds 60% of the company's paid-up share capital, free reserves and securities premium account....

Statutory Registers under the Companies Act, 2013

Introduction:

The Companies Act, 2013 mandates the maintenance of various registers by companies to ensure compliance with legal requirements. These registers play a crucial role in documenting and recording essential information related to the company's shareholders, directors, key managerial personnel, charges, contracts, and other significant transactions......

What happens when both or all the directors of the company resign from the board of directors of the company?

Section 168 of the Companies Act, 2013 deals with resignation of Directors. When, by operation of law, the office of a director is vacated....

Demystifying ESOPs: Employee Stock Ownership Plans Explained in Layman's Terms

Introduction 

In today's dynamic work environment, companies are constantly looking for ways to motivate and retain their employees. One effective tool that companies use is an Employee Stock Ownership Plan (ESOP). In this blog post, we will explain ESOPs in simple language, specifically focusing on ESOPs in the contex....

Can a Designated partner be appointed without having made any investment in the LLP in form of 'Contribution'?

Introduction 

Limited Liability Partnerships (LLPs) have gained popularity as a flexible business structure that combines the benefits of both a partnership and a company. LLPs require the appointment of designated partners who are responsible for managing the affairs of the LLP. One question that often arises is whether a designated partner can be appointed without making any contribution in the form of capital or assets to the LLP. In this blog post, we will explore this topic and shed light on the legal provisions and practical implications related....