What is Section 117 of Companies Act, 2013?

What is Section 117 of Companies Act, 2013?

[(2) If any company fails to file the resolution or the agreement under sub-section (1) before the expiry of the period specified therein, such company shall be liable to a penalty of ten thousand rupees and in case of continuing failure, with a further penalty of one hundred rupees for each day after the first during …

What is Section 62 of Companies Act, 2013?

“The notice referred to in sub-clause (i) of clause (a) of sub-section (1) shall be dispatched through registered post or speed post or through electronic mode or courier or any other mode having proof of delivery to all the existing shareholders at least three days before the opening of the issue.”

Is section 73 applicable to private companies?

Exemption. Exemptions private limited companies are now entitled to with regards to section 73 dictate that private limited companies can grant loans against the following conditions: The company is not in default of repayment of any borrowings at the time of handing out the loan to any director.

Is Section 180 of Companies Act, 2013 applicable to private company?

Section 180 shall not apply to a private company, vide Notification No. Section 180 shall apply in case of a Specified IFSC public company, unless the articles of the company provides otherwise, vide Notification No.

What is Section 188 of Companies Act 2013?

1. No member of the company shall vote on such resolution, to approve any contract or arrangement which may be entered into by the company, if such member is a related party [second Proviso to Section 188(1) of the Act].

What is Section 180 of Companies Act 2013?

Section 180 of the companies act, 2013, restricts the power of board of directors. Board can exercise some powers only with the consent of the company by a special resolution. (i) “undertaking” shall mean an undertaking in which the investment of the company exceeds twenty per cent.

What is Section 55 of Companies Act, 2013?

Section 55 of the Companies Act, 2013 (the Act) prescribes that a company shall not issue an irredeemable preference shares. Further, it also imposes restriction on companies limited by shares to issue preference shares liable to be redeemed at the end of the end of twenty years.

What is Section 180 of Companies Act, 2013?

Is Section 197 of Companies Act, 2013 applicable to private companies?

This section is not applicable to Private company. Section 197 pertaining to cap on overall managerial remuneration in case of profit, in case of absence or inadequacy of profits and Schedule V are not applicable.

Is section 196 applicable to private companies?

e) File MR-1 within 60 days of appointment pursuant to Section 196(4). No requirement to file this form in case of private companies. It is to be noted that there is no need to take approval of members in the general meeting in case of Private Companies.

Is Section 197 of Companies Act 2013 applicable to private companies?

What is Section 184 of Companies Act, 2013?

(1) Every director shall at the first meeting of the Board in which he participates as a director and thereafter at the first meeting of the Board in every financial year or whenever there is any change in the disclosures already made, then at the first Board meeting held after such change, disclose his concern or …

What is private limited company as per Companies Act 2013?

One Member Company- According to the Act of 2013, there can be a one-member private company known as One Person Company. Limited Paid-up share- According to section 2 (85) of the Companies Act, any company with limited paid-up share capital, and turnover amounts will also be considered private companies under Indian Company Law.

Who are the companies under the Companies Act?

1[” (iv) made by a banking company or an insurance company or a housing finance company, making acquisition of securities in the ordinary course of its business.\\]

Which is not a clause of a private company?

(d) The Company Prohibits any invitation or acceptance of deposits from persons other than its members, directors or their relatives. The clause (d) as given above is not applicable now as per new definition of private company under new CA, 2013. 3.

What does the one person company Act 2013 mean?

1.1 One-person company: The 2013 Act introduces a new type of entity to the existing list i.e. apart from forming a public or private limited company, the 2013 Act enables the formation of a new entity a ‘one-person company’ (OPC). An OPC means a company with only one person as its member [section 3(1) of 2013 Act].

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