9911796707
TMI BlogCompany Bill AnalysisX X X X Extracts X X X X X X X X Extracts X X X X ..... Company Bill Analysis - By: - CS Swati Dodhi - Income Tax - Dated:- 7-4-2012 - - REGISTERED OFFICE After incorporation, within 15 days company has to decide about their registered office capable of acknowledging or receiving all communications. The company shall furnish to the registrar verification of its registered office within 30 days of its incorporation COPIES OF MOA AND A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... OA ETC TO ITS MEMBERS Within 7 days of the request from the members, the company has to send copy of the each document i.e MOA, AOA, or every agreement or every resolution as mentioned in sub section (1) of section 11 Default shall be liable for each default , to a penalty of one thousand rupees for each day during which default continues or one lakh rupees, whichever is less DEMA ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... T OF SECURITIES FOR PUBLIC OFFER As per companies bill clause 29 provides that every company making public offer or every other class or classes of public companies as may be prescribed shall issue only dematerialized form Any other company may convert its securities in demat form ( voluntarily as per the provision of companies act and depositories act, 1996) APPLICATION FORM FO ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... R IPO Application forms shall accompany abridged prospectus as per sub clause 1 of clause 33 of company s bill 2011 . MIS STATEMENTS IN PROSPECTUS Where a prospectus, issued, circulated or distributed under this Chapter, includes any statement which is untrue or misleading in form or context in which it is included or where any inclusion or omission of any matter is likely to mis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lead, every person who authorizes the issue of such prospectus shall be liable under section 447 SECRETARIAL AUDIT 204. ( 1) Every listed company and a company belonging to other class of companies as may be prescribed shall annex with its Board s report made in terms of sub-section ( 3) of section 134, a secretarial audit report, given by a company secretary in practice, in suc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h form as may be prescribed. ( 2) It shall be the duty of the company to give all assistance and facilities to the company secretary in practice, for auditing the secretarial and related records of the company. ( 3) The Board of Directors, in their report made in terms of sub-section (3) of section 134, shall explain in full any qualification or observation or other remarks m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ade by the company secretary in practice in his report under sub-section ( 1). ( 4) If a company or any officer of the company or the company secretary in practice, contravenes the provisions of this section, the company, every officer of the company or the company secretary in practice, who is in default, shall be punishable with fine which shall not be less than one lakh rupees but wh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ich may extend to five lakh rupees. GLOBAL DEPOSITORY RECEIPT As per clause 41 of companies bill, every company after passing special resolution in its general meeting issue depository receipt in any foreign country in such manner subject such terms and conditions as may be prescribed. The government will come out rules for the same in future. EQUITY SHARE CAPITAL Two kin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ds of equity share capital With voting rights With differential rights as to dividend or voting rights or otherwise in accordance with rules as may be prescribed clause 43 (a) NATURE OF SHARES OR DEBENTURES The shares or debentures or other interest of any member in a company shall be movable property transferable in the manner provided by the articles of the company. CLAUSE 44 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... COMMENTS: WE SHOULD SPECIFICALLY TO PROVIDE IN THE ARTICLES OF ASSOCIATION ABOUT TRANSFERABILITY CERTIFICATE OF SHARES Certificate issued by a company affix its common seal specifying no of shares held by a member is prima facie evidence of the title of the person to such shares DUPLICATE SHARE CERTIFICATE Clause 46 (2) provides that duplicate share certificate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... can be issue for the following reasons ( a) Is proved to have been lost or destroyed; or ( b) Has been defaced, mutilated or torn and is surrendered to the company - - Scholarly articles for knowledge sharing authors experts professionals Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
