18. Debentures.- (1) The company shall not issue secured debentures, unless it complies with the following conditions, namely:- (a) An issue of secured debentures may be made, provided the date of its redemption shall not exceed ten years from the date of issue.
CONVERSION OF COMPANIES ALREADY REGISTERED. [Effective from 1st April, 2014] (1) A company of any class registered under this Act may convert itself as a company of other class under this Act by alteration of memorandum and articles of the company in accordance with the provisions of this Chapter.
Issue of Debentures [Under Section 71 & Rule 18 of Companies (Share Capital & Debenture) Rules, 2014] The debentures issued by a company is an acknowledgment that the company has borrowed an amount of money from the public, which it promises to repay at a future date.
Debentures can be either secured or unsecured. Debentures can be secured by creating a charge against the property or asset of the Company or its Holding/Subsidiary/Associate, having value that is sufficient for the repayment of the NCDs and the interest due on them [Rule 18(1)(b) of SHA Rules].
8-Companies (Appointment and Remuneration of Managerial Personnel) Rules,2014. Every listed company and every other public company having a paid-up share capital of ten crore rupees or more shall have whole-time key managerial personnel.
(a) An issue of secured debentures may be made, provided the date of its redemption shall not exceed ten years from the date of issue.
The particulars of each person mentioned in the articles as first director of the company and his interest in other firms or bodies corporate along with his consent to act as director of the company shall be filed in Form No. DIR.
(1) Every company, other than a private company, shall disclose in its financial statement, by way of notes, about the money received from the director. (2) Every private company shall disclose in its financial statement, by way of notes, about the money received from the directors, or relatives of directors.
The Companies (Audit and Auditors) Amendment Rules, 2021 introduced new reporting requirements for auditors under Rule 11 of the Companies (Audit and Auditors) Rules, 2014. Among the new rules is Rule 11(g), which mandates auditors to report on the use of accounting software that maintains an audit trail.
Annual Return-. (1) Every company shall file its its annual return in Form No. MGT-7 except One Person Company (OPC) and Small Company.
Rule 18 (1) (b) is revised to read as, "Such an issue of debentures shall be secured by the creation of a charge on the properties or assets of the company or its subsidiaries or its holding company or its associates companies, having a value which is sufficient for the due repayment of the amount of debentures and ...
(8) A copy of gist along with critical elements of the valuation report obtained under clause (6) and clause (7) shall be sent to the shareholders with the notice of the general meeting. (b) where clause (a) is not applicable, it shall be expensed as provided in the accounting standards.
(3) The amount so drawn shall first be utilised to set off the losses incurred in the financial year in which dividend is declared before any dividend in respect of equity shares is declared.
18Articles of association
(1)A company must have articles of association prescribing regulations for the company. (2)Unless it is a company to which model articles apply by virtue of section 20 (default application of model articles in case of limited company), it must register articles of association.
Section 18 of the Companies Act 1993 (“Act”) prevents a company from asserting against a third party that a director, or a person held out by the company as a director, does not have the authority that a director of a company in the same business would customarily have, except when the third party has knowledge to the ...
14-Companies (Appointment and Qualification of Directors) Rules,2014. 1. Every director shall inform to the company concerned about his disqualification under sub-section (1) or sub-section (2) of section 164, if any, in Form DIR-8 before he is appointed or re-appointed. “
(1) Where a company is required or decides to pass any resolution by way of postal ballot, it shall send a notice to all the shareholders, along with a draft resolution explaining the reasons therefor and requesting them to send their assent or dissent in writing on a postal ballot because postal ballot means voting by ...
(1) The standards of accounting as specified under the Companies Act, 1956 (1 of 1956) shall be deemed to be the accounting standards until accounting standards are specified by the Central Government under section 133.
(1) To provide guidance to the directors with regard to their duties, responsibilities and powers. (2) To formulate the business strategies. (3) To represent before various Regulators, and other authorities in connection with discharge of various duties.
(a) in a country in any part of the Commonwealth, his signatures and address on the memorandum and articles of association and proof of identity shall be notarized by a Notary (Public) in that part of the Commonwealth.
12-The Companies (Incorporation) Rules,2014. An application for registration of a company shall be filed, with the Registrar within whose jurisdiction the registered office of the company is proposed to be situated, in Form No.
(1) Every director shall disclose his concern or interest in any company or companies or bodies corporate (including shareholding interest), firms or other association of individuals, by giving a notice in writing in Form MBP 1.
No association or partnership shall be formed, consisting of more than fifty persons for the purpose of carrying on any business that has for its objects the acquisition of gain by the association or partnership or by individual members thereof, unless it is registered as a company under the Act or is formed under any ...
(a) shall be eligible to incorporate a One Person Company; (b) shall be a nominee for the sole member of a One Person Company.
(6) Any person who has applied for inclusion of his name in the data bank of independent directors or any person whose name appears in the data bank, shall intimate to the agency about any changes in his particulars within fifteen days of such change.