Pre-certification of forms & Returns required to be filed with Registrar of companies

Pre certification of forms & Returns required to be filed with Registrar of companies Meaning Pre certification refers to examination and authentication of various forms required to be filled with Authorities governed under various laws. In other words, Pre certification means to check the form by the Independent Professional before filling it with the Ministry […]

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A Brief Introduction to the Liquidation Process under the IBC, 2016

Liquidation is the Last stage of any company’s Life, once the Liquidation Process of a Company is Completed, then such company ceased to exist. In India the Liquidation Process is governed by the “Insolvency and Bankruptcy Code, 2016, and Regulation made thereunder, i.e. Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016. The Prime […]

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BUYBACK OF SHARES AND SECURITIES

APPLICABLE PROVISIONS: Section 68, 69 & 70 of the Companies Act, 2013 read with Rule 17 of The Companies (Share Capital & Debentures) Rules, 2014 are the provision concerned towards the Buy Back of Securities by the unlisted company; however, in addition to the companies act, 2013 the listed Company shall also comply with the […]

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Incorporation of company in India

A Company comes into existence when a group of people come together with a view of forming an association to exploit the business opportunities by bringing together human resources, financial resources and managerial resources.
Company is a separate & distinct legal entity, which permits a group of people, as stakeholders, to apply to the government for an independent organization to be created, which can then focus on pursuing set objectives, and vested with legal rights such as to sue and be sued in its own name, own property, hire employees or loan and borrow money.
As you move into the new house, first, there is a huge process of “getting used to” – which is anyway usual for any such shifting. But the biggest issue is – we get to realize several shortcomings that we did not realize until we shifted. This might include silly things such as an electric point that we missed, or a water outlet that is not working, and so on. In case of the new house, all these are our own follies, or those of the architect – so we go ahead and get them fixed. In case of the new Act – the fixing process is the long trail of amending the law, and in the meantime, you have the 6-months-in-jail staring at you all the time!

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Dormant Companies Under Companies Act

This is a new initiative of Ministry of Corporate Affairs to introduce the concept of Dormant Companies, as it was not there in Companies Act, 1956 , whereby Companies which are not carrying on any significant accounting transaction for a period of two years can apply to Registrar of Companies for getting declared itself as Dormant Companies. In today’s economic environment, a lot of Companies are formed for the purpose of holding any assets particularly real assets or any IPR or for a future project and such Company just keeps on complying with the laws even if no actual business is being done or transacted.  Another name for this concept can be Asset Shielding Concept Under Companies Act 2013 as a Dormant Company offers excellent advantage to the promoters who want to hold an asset or intellectual property under the corporate shield for its usage at a later stage.

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