Section 135 in the Act states that every company with the prescribed net worth or turnover must necessarily constitute a CSR Committee, with clearly defined composition, activities to be undertaken, budgets and responsibilities of the Committee, so formed. This would ensure that right steps are ...
Meaning: As per section 406 of Companies Act 2013 ,�Nidhi� means a company which has been incorporated as a Nidhi with the object of cultivating the habit of thrift and savings amongst its members, receiving deposits from, and lending to,
(i.e. Section 25 company under 1956 Act – Section 8 in 2013 Act) increased to include sports, education, research, social welfare, • Incorporation process tightened • Difficult to maintain off the shelf company Companies Act, 2013 Fresh thinking for a new start 7 Types of companies ...
Independent directors as the name suggests are directors on Board of a company who are independent individuals, not having any other relationship or transaction with the company. The concept of Independent directors gained momentum in the late 1980s and early 1990s due to the uncovering of various ...
Section 248:Power of Registrar to remove name of company from register of companies Section 249:Restrictions on making application under section 248 in certain situations Section 250:Effect of company notified as dissolved Section 251:Fraudulent application for removal of name ...
There is a certain question that comes to mind about which type of companies are covered in The Companies Act, 2013. Those companies already registered in previous companies’ law i.e. The Companies Act, 1956. Companies that are covered under the Company’s Act are: Insurance Companies ...
Section-2(24) Company Secretary or Secretary: “company secretary” or “secretary” means a company secretary as defined in clause(c)of sub-section(1)of section 2 of the Company Secretaries Act, 1980 who is appointed by a company to perform the functions of a company secretary under this ...
Case Law Review of Section 339 Under the Companies Act In the case of Datamail Systems Limited vs. Kotak Electric Ltd. & Ors., the Apex Court addressed a violation of Section 339 of the Act. The Court determined that in order to persuade people to invest money in the company, a misrepr...
For certain cement industries, the CSR activities are mandatory under the Companies Act along with Enterprise Social Commitment as per environment clearance. The CSR activities undertaken for compliance with EC requirement also qualify for mandatory CSR expenditure under the Companies Act. The analysis ...
India - Liability Of Independent Directors Under Companies Act, 2013 Legal News and Analysis - India - Corporate/M&A - Conventus Law