Rule 9A corresponds to Section 29 of the Companies Act, 2013, which provides that any securities held in physical form by any person shall be dematerialized by the person concerned in the manner prescribed by the Securities and Exchange Board of India (SEBI).
As per Rule 9A(1)(a) of the Companies (Prospectus and Allotment of Securities) Rules, 2014, a company is under obligation to issue fresh securities only in the Demat form.
Every individual, who is to be appointed as director of a company shall make an application electronically in Form DIR-3, to the Central Government for the allotment of a Director Identification Number (DIN) along with such fees as provided in the Companies (Registration Offices and Fees) Rules, 2014.
In September 2018, Rule 9A was introduced into the Companies (Prospectus and Allotment of Securities) Rules, 2014 ('Allotment Rules'), whereby all issuances of securities by public unlisted companies were required to be made in dematerialized form.
As per Rule 9 of Companies (Incorporation) Rules, 2014:
If the name is approved it will be available for the period of 20 days from the date of approval and if it is get rejected the applicant can resubmit the form without paying any fees after made the changes suggested by the Central Registration Centre (CRC).
9. (2) A copy of the annual return shall be filed with the Registrar with such fee as may be specified for the purpose. listed company shall file with the Registrar, a return in Form No. MGT.
9. Issue and redemption of preference shares. (1) A company having a share capital may, if so authorised by its articles, issue preference shares subject to the following conditions, namely:— (a) the issue of such shares has been authorized by passing a special resolution in the general meeting of the company.
(1) No allotment of any securities of a company offered to the public for subscription shall be made unless the amount stated in the prospectus as the minimum amount has been subscribed and the sums payable on application for the amount so stated have been paid to and received by the company by cheque or other ...
9Registration documents
(1)The memorandum of association must be delivered to the registrar together with an application for registration of the company, the documents required by this section and a statement of compliance. (d)whether the company is to be a private or a public company.
Section 10A (2): - If any default is made in complying with the requirements of this section, the company shall be liable to a penalty of fifty thousand rupees and every officer who is in default shall be liable to a penalty of one thousand rupees for each day during which such default continues but not exceeding an ...
3-Companies (Accounts) Rules,2014. (1) The books of account and other relevant books and papers maintained in electronic mode shall remain accessible in India, at all times accessible in India so as to be usable for subsequent reference.
(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.
SELLING OR DISPOSING OF UNDERTAKING:
According to Clause (6) of rule 6A, omnibus approval shall not be made for transactions in respect of selling or disposing of the undertaking of the company. All transaction in respect of selling or disposing of the undertaking of the company shall not be granted omnibus approval.
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. Every private company which has a paid up share capital of ten crore rupees or more shall have a whole -time company secretary.
You are not allowed to keep livestock such as cockerels, rabbits, turkeys, ducks, parrots, pigeons, pigs, sheep, goats or horses on allotment plots.
The terms "allotting shares" and "issuing shares" are often used interchangeably. In some cases, particularly when shares are created by a public company, there may be a difference. Share allotment, strictly, is the allocation of the right to certain shares to particular applicants for them.
Directors of a company with more than one class of share will need to get shareholder approval to allot new shares (unless the articles provide that approval is not required). Consent is obtained via an ordinary resolution of the company's members.
Special conditions are required for individuals who own (or are treated as owning) stock accounting for 10% or more of the total combined voting power of all classes of stock of the corporation employing the optionee.
Understanding Schedule 13D
When a person or group of persons acquire a significant ownership stake in a company, characterized as more than 5% of a voting class of its publicly traded securities, the SEC requires that they disclose the purchase on a Schedule 13D form.
According to the Rule 9(6) of Companies (Share Capital and Debentures) Rules, 2014, a Company may redeem its preference shares only on the terms on which they were issued or as varied after due approval of preference shareholders.
Rule 9A(8) of the Companies (Prospectus and Allotment of Securities) Rules, 2014, mandates that every unlisted public company shall submit Form PAS-6, which is a reconciliation of share capital audit report, duly certified by a Company Secretary in practice or Chartered Accountant in practice to the Registrar of ...
Among the new rules is Rule 11(g), which mandates auditors to report on the use of accounting software that maintains an audit trail. This new rule is significant as it ensures that the books of accounts maintained by companies are accurate and reliable, and the financial reporting process is more transparent.
(1) The Board's Report shall be prepared based on the stand alone financial statements of the company and the report shall contain a separate section wherein a report on the performance and financial position of each of the subsidiaries, associates and joint venture companies included in the consolidated financial ...