companies act 2013

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

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

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

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

Under the old Companies Act 1956, it was required to have at least two people to form a private limited company and 7 people to form a public limited company. There was no concept of forming a company with a single shareholder as its member. Also Read: Minimum Persons required to register a company in India In Companies Act 2013, a new concept has been introduced known as … [Read more...] about Now, One individual can start a company in India – One Person Company or OPC

As per companies act 2013, in India we can form three type of companies i.e. private limited, public limited and One Person Company or OPC. Section 3 prescribes minimum number of persons required to form a public, private or OPC in India. As per section 3 of Companies act 2013, a company in India can be formed for any lawful purpose by; seven or more persons where … [Read more...] about Minimum persons required to form a company in India

A quorum for board meeting means the minimum number of directors necessary to conduct the business of the company in a meeting of board of directors. Provisions related to quorum of board meeting are now specified in section 174 of Companies Act 2013 which replaced the old section 287 of Companies Act 1956. As per section 174 of Companies Act 2013, quorum of meeting of board … [Read more...] about Quorum for meeting of the board of directors – Section 174

As per section 173(2), a director may participate in the board meeting either in person or through video conferencing or other audio visual means. Such method of participation should have capability of recording and recognizing the participation of the directors and of recording and storing the proceeding of such meetings along with date and time. This means a director has … [Read more...] about Participation in Board meeting through video conference

Provisions related to company Board meetings are specified in section 173 of Companies Act 2013. As per section 173, every company after incorporation shall hold the first meeting of the board of directors within 30 days from the date of registration. After the first board meeting, company is required to hold a minimum number of 4 meeting of board of directors every year … [Read more...] about Minimum Number of Board Meetings A Company should hold during the year

As per section 165 of Companies Act 2013, no person shall hold office as a director including any alternate directorship, in more than 20 companies at the same time. Provided that the maximum number of public companies in which a person can be appointed as director shall not exceed 10. This means, total number of directorship an individual can hold has been fixed at 20 … [Read more...] about Maximum number of directorship an individual can hold – Section 165 of Companies Act 2013