Advertisement of Prospectus of the Company – Company Registration in Madurai

Advertisement of Prospectus of the Company – Companies Act, 1956: Section 66 Section 66 of the 1956 Act was constructed as an exemption from publication of extracts from the memorandum of association in newspaper advertisement, which are rendered by law to be a prospectus. The Companies (Amendment) Act, 2000 empowered SEBI to administer the provisions of section 66 of the 1956 […]

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Appointment of one of your directors to be a Managing Director – Company Registration in Madurai

Do you wish to appoint one of your directors to be a Managing Director 1. A director to be appointed as a managing director would necessarily have obtained the Director Identification Number (DIN) under Section 153 read with section 154 of the 2013 Act [corresponding to section 266 A of the 1956 act]. 2. Convene a Board meeting after giving […]

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One Person Company – Company Registration in Madurai

One Person Company(OPC) With increasing the use of information technology and computers, emergence of the service sector, it is time that the entrepreneurial capabilities of the people are given an outlet for participation in economic activity. Such economic activity may plays as a vital role in the innovation of an economic person in the form of a firm or a […]

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Definition of a Company – Company Registration in Madurai

Company [Section 3(1) of Companies Act, 1956] The definition of “Company” in sub-section (1)(1) of section 3 of the 1956 Act, is subject to the other definitions given in other provisions of the 1956 Act for the limited purposes stated therein. In Telesound India Ltd., it was held that though the word companies is generally defined in section 3 of […]

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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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Qualifications and Disqualifications of Auditor of the Company

Qualifications and Disqualifications of Auditor of the Company The qualifications and disqualifications of auditor provided in the section are the same, be it a private limited company, a public limited company, a Government company, or a company licensed under section 8 incorporated for charitable purposes. The main purpose of this section is to ensure that only the qualifications person possessing […]

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Minimum Subscription of the Company – Company Registration in Madurai

Requirement as to minimum subscription Section 69 of the 1956 Act prohibits a company from making allotments pursuant to a public issue of capital unless the amount stated in the prospectus as the minimum subscription has been subscribed and the money payable on application in respect of such shares constituting the minimum subscription has been received by company within 120 […]

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Incorporation of a One Person Company – Company Registration in Madurai

Incorporation of a company: Both sole member and nominee shall be natural persons, Indian citizens, and residents in India Only a natural person who is an Indian citizen and resident in India- Shall be eligible for incorporation 0f a one person company; Shall be a nominee for the sole member of a one-person company. The term resident India means a […]

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Do you wish to takeover a listed company – Company Registration in Madurai

Do you wish to takeover a listed company  If you are a listed company and the person taking over the company is already holding 25% of the voting rights in respect of shares to be acquired, and, the acquirer is desirous of acquiring further shares in respect of target listed company, he has to make the public announcement of a […]

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