Criminal Liability for Mis-Statement – Company Registration in Madurai

Companies Act, 1956: Section 63 Section 63 of the 1956 Act provides for criminal liability for mis-statement, which was fine of Rs. 50,000/ or imprisonment of up to two years or both. The penalty was enhanced from Rs.5000 to Rs.50, 000/ vides the Companies (Amendment) Act, 2000. The Companies (Amendment) Act, 2000 also empowered SEBI to administer the provisions of […]

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Chairman Of the Company – Company Registration in Madurai

Powers of the chairman : conduct, validity and adjournment of meetings The extent to which the chairman of a meeting can lawfully adjourn the meeting is a question of very strategic importance in the conduct of meetings. The law on this point is a mixture of two currents according to one of which a meeting cannot be adjourned without its […]

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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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