Increasing Capital Of Private Limited Companies
Increasing Capital Of Private Limited Companies There are many restrictions when it comes to issuing of shares in a private limited company It is prohibited from inviting any funds from the public by issuing shares/securities of the company. Restriction on the number of members – i.e maximum no. of members which private limited company is allowed to have is 200. Restriction in transferability of its shares. Despite the restrictions placed upon it, equity financing is always been a favorite [...]
Fraud Reporting of Companies
Fraud Reporting of Companies In this global era, corporate fraud has always been a major problem to be addressed to. Though there are various punishments for its commission, stringent reporting mechanism was required for corporate frauds. Unlike Companies act, 1956, Companies act, 2013 have provided a separate and clear mechanism for reporting of fraud committed in the company by its officers and employees. These provisions are discussed herewith - Meaning of fraud As per the provisions of the act, [...]
Drone Registration In India
Drone Registration In India As per the Indian National Aviation Authority, Ministry of Civil Aviation; it is legal to fly a drone in India but a person has to follow certain rules and regulation related to flying of drones in India. The Directorate General of Civil Aviation has recently announced an important drone-related law called Civil Aviation Requirements (CAR) for drones which came into effect on 1st of December, 2018. Foreigners have no rights to fly drones in India [...]
Annual ROC Filing For One Person Company
Annual ROC Filing For A One Person Company Every Company registered under the Companies Act is required to file a set of annual compliances with the Registrar Of Companies. One Person Company is mandatorily required to comply with such requirements as a part of its annual compliances and must do the annual OPC ROC Filing. Since a One Person Company has a statutory restriction of members to one there is no requirement to hold an annual general meeting but [...]
Annual ROC Filing For A Private Limited Company
Annual ROC Filing For A Private Limited Company Every Company registered under the Companies Act is required to file a set of annual compliances with the Registrar Of Companies. A Private limited Company is mandatorily required to comply with such requirements as a part of its annual compliances. All Private limited Companies are required to conduct an Annual General Meeting within six months from closure of its financial year. A notice of such annual general meeting has to be [...]
KYC Updation For Directors Holding DIN
KYC Updation For Directors Holding DIN Important Note: Please refer to the Updated version of this article here. Recently the Ministry Of Corporate Affairs has issued a notification wherein all the directors holding DIN are required to update their KYC annually. Provided that anyone who is already holding a Directors Identification number is required to update their DIR 3 KYC by 31st August 2018, failing to do so may result in the deactivation of your DIN and attract [...]