Nomination of Managing Director of the Registered Company

Nomination of Managing Director of the Company A managing Director is defined in Section 2 (26) of the Companies Act, 1956. It is at once clear from the definition that a managing director may be appointed in any one of five ways, namely, By virtue of a consent with the company; By virtue of a resolution passed by the company […]

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All you need to know about the company funds and investments

Do you wish to lend the funds of your company or to make investments in shares of other companies?     If your company, whether a private or a public company proposes to grant loans and investments or give any guarantee provide security in connection with a loan to any other body corporate or person or acquire by way of […]

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Remuneration and Nomination Committee – Company Registration in Madurai

Nomination and Remuneration Committee – Company Registration in Madurai Under Companies (Amendment) Act, 2013, the remuneration paid to a director for any services rendered in any other capacity shall not be so included if in the opinion of the Nomination and Remuneration Committee formed under section 178(1) of the 2013 Act or in the opinion of the Board of directors, […]

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Appointment of Directors and their retirement by rotation of the company

Appointment of Directors and their retirement by rotation of the company Section 255 of the 1956 Act dealt with the appointment of directors and their retirement by rotation. The amendment in section 255(1) of the 1956 Act vide Companies (Amendment) Act, 1960 (relating to retirement by rotation) was based on the recommendations of the Companies Act Amendment Committee, which stated […]

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Appointment of Independent Person as Liquidator of a Company

Appointment of independent person as liquidator An independent person or a third party cannot be appointed as an Official liquidator in liquidation proceedings under supervision of the court. But a suitable person can be appointed as an assistant or deputy liquidator for the precise purpose of functioning under control and supervision of the High Court and act for the purpose […]

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Committee of Creditors for the Registered Company

Committee of Creditors for the Registered Company The 1956 Act and SICA did not require holding of creditors meeting for determining the possibility of revival of the sick company. Therefore, there was no provision in the 1956 Act and SICA corresponding to section 257 of the 2013 Act. While 2013 Act empowers the secured creditors to initiate an action under […]

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Convening Meetings of Creditors and Contributors of the Company

Company Registration in Madurai – Convening meetings of creditors and contributors of the company is what we are going to describe below in this article. A company is a separate legal entity, which is made by some association of peoples who may be natural or legal persons for commercial and industrial purposes. Basically, the company is registered and processed under […]

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