As per Section 153 of Companies Act 2013, every individual intending to be appointed as director of a company shall make an application for allotment of Director Identification Number or DIN to the central government in e-form DIR-3. One person should obtain one Director Identification Number or DIN. In certain cases like death of the director or DIN allotted more than … [Read more...] about How to surrender or cancel Director identification number or DIN
Finance
Transmission of Shares in case of death of shareholder – As per companies act 2013
Transmission of share means transfer of title to shares by operation of law. This type of situation arises when a shareholder died, inheritance, bankruptcy, marriage and succession. On death of the shareholder, legal heirs are required to submit a request letter supported by an attested copy of the death certificate of the deceased shareholder and the relevant share … [Read more...] about Transmission of Shares in case of death of shareholder – As per companies act 2013
How to start a retail jewellery business in India
Jewellery has been an integral part of human civilization. Some people wear Jewellery at auspicious occasions like marriages, engagements, etc as it’s a symbol of power and prestige and others worn to deliver style statement and be fashionable. In this article we will be discussing how to register a retail jewellery business name in India, how to obtain business license, … [Read more...] about How to start a retail jewellery business in India
Ratification of Company Statutory Auditor – In cases where appointment is for 5 years tenure
As per section 139(1) of Companies Act 2013, every company shall, at the first annual general meeting, appoint an individual or a firm as an auditor who shall hold office from the conclusion of that meeting till the conclusion of its sixth annual general meeting and thereafter till the conclusion of every sixth meeting. As per first proviso to section 139(1) of Companies Act … [Read more...] about Ratification of Company Statutory Auditor – In cases where appointment is for 5 years tenure
Form MGT9 is to be attached to Company’s Directors Report – Companies Act 2013
As per sub section 3 of Section 92 of Companies Act 2013, an extract of the annual return in such form as may be prescribed shall form part of the company's board’s report. This means, from financial year 2014-2015 onward, the extract of the annual return shall form part of the Board’s report instead of balance sheet as provided in earlier old Companies Act 1956. Rule 12 … [Read more...] about Form MGT9 is to be attached to Company’s Directors Report – Companies Act 2013
How to calculate company’s Earnings per Share or EPS
Calculating net profit margin is not enough in order to invest in a company. You have to analyse the company from all steps in order to know whether the stock is a good investment for you. One of such factors is earnings per share or EPS. Earnings Per Share (EPS) is one of the most important metrics for an investor. Companies while reporting their income statement, mention … [Read more...] about How to calculate company’s Earnings per Share or EPS
Company annual return in Form MGT7 – Preparation, Time Limit, Fee and Penalty as per Companies Act 2013
In old Companies Act 1956, Section 159,160,161,162 and Schedule V were dealing with the company Annual Return & related provisions. Now company annual return provisions are combined together in Section 92 of the new Companies Act 2013. As per the new law, annual return is compulsorily required to be filed with the registrar of companies or ROC in the prescribed form … [Read more...] about Company annual return in Form MGT7 – Preparation, Time Limit, Fee and Penalty as per Companies Act 2013
Appointment of director in casual vacancy under Companies Act 2013
Casual vacancy can be caused by the resignation, death or disqualification of an existing director. Through this write up we are going to discuss how to appoint a director in case of casual vacancy under companies act 2013. As per section 161(4) of Companies Act 2013, in case of public limited companies, if the office of a director is vacated before expiry of his or her … [Read more...] about Appointment of director in casual vacancy under Companies Act 2013
Who should sign subscription page of MOA or Memorandum of Association
As per Companies Act 2013 read with related rules there under, a Memorandum of Association and Article of Association of a company should be signed by all the subscribers to the MOA of the company at the time of incorporation stating therein the name of subscriber, address, description and occupation in presence of at least one witness. The witness shall attest the signature … [Read more...] about Who should sign subscription page of MOA or Memorandum of Association
How to identify loans or advances as Non Performing Asset or NPA for a bank
To move towards greater transparency and consistency in the published accounts of a bank, RBI has introduced prudential norms for income recognition, asset classification and provisioning for the advance portfolio of the banks. The main objective of these norms is to reflect bank’s actual financial health in its balance sheet. As per the prudential norms introduced by … [Read more...] about How to identify loans or advances as Non Performing Asset or NPA for a bank