COMPANY LAW Checklist for issue of Sweat Equity Shares under Companies Act, 2013 Issue of Sweat Equity Shares In the current scenario, an employee is the key of the success of every organization and every employee deserve to be compensated for the efforts made by them to make the organization successful in the competitive market … Read More →
ACCOUNTING Accrual Basis of Accounting On the other hand, accrual basis of accounting, recognized income when it is earned and recognizes expenses when they are incurred: The firm will expense raw materials consistently as they are used and not in one single charge when they are paid for. The firm will record income when all … Read More →
The petitioners argued that VC exchanges already had best practices such as avoidance of cash transactions, enhanced KYC (know your customer) norms etc. The court, however, said that enhanced KYC norms may remove anonymity of the customer but not that of the VC Further it also pointed out that RBI was the best judge of … Read More →
Procedure for Conversion of Partnership to Limited Liability Partnership After implementation of Limited Liability Partnership (LLP), more and more Partnership Firms are converting themselves to Limited Liability Partnership (LLP) for obvious reasons of unlimited number of Partners, perpetual succession, limited liability, transferability etc. In this article we will discuss about the step by step procedure … Read More →
The requirements of Directors of an Indian Company In some instances the directors and members of a company can be personally held liable. The following provisions of the Indian Companies Act, 1956 provide that the Members or the Directors/officers of a company will be personally liable if: 1.A company carries on business for more than … Read More →
Proposed Changes to the Companies Act (India) The Companies Act, 2013 (“Companies Actâ€), while beneficial, has also been perceived as overzealous over regulation in part. With a view to facilitating the ease of doing business in India, addressing stringent compliance requirements, harmonising company law with other regulations, the Companies-Act-Amendment(“Billâ€)was introduced in the Lok Sabha in … Read More →
CORPORATE LAW UPDATE: MAY-JUNE 2016 1.Company Law Board Dissolved: The Company Law Board stands dissolved with and with effect from June 1, 2016, the National Company Law Tribunal has been constituted. The location of the benches and postal address is mentioned in Circular dated June 7, 2016 issued by the Ministry of Corporate Affairs. 2. … Read More →