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1.Instrument for Transfer of Share is compulsory: Section 56 provides that a company shall not register a transfer of shares of, the company, unless a proper transfer deed in Form SH.4 as given in Rule 11 of Companies (Share Capital & Debentures) Rules 2014 duly stamped and executed by or on behalf of the transferor and by or on behalf of the transferee and specifying the name, address and occupation, if any, of the transferee,…
A transmission of interest in shares of a company, of a deceased member of the company, made by the legal representative of a deceased member shall be considered as transmission of shares by operation of law. This transmission will be registered by a company in the Register of Members’ 1. Person eligible to apply for transmission: The survivors in case of joint holding can get the shares transmitted in their names by production of the…
A Private Limited Company registration in India is customary for starting a new business. This structure is developed under the organized business sector governed by specific Act and provisions. A company in India is incorporated and registered under the Companies Act, 2013 which has appointed the Ministry of Corporate Affairs as a governing body. Among the numerous types of companies under the Companies Act, this article highlights the requirements of a Private Limited Company that…
APPLICABILITY – TO WHOM IT IS APPLICABLE? Every company (other than Government Company) which has accepted loans / deposits / share application money or money through any other mode is required to do compliance by filling DPT-3 form with Ministry of Corporate Affairs. The said form DPT-3 is prescribed in law to file return of deposits. It is a one – time return of outstanding receipts of money or loans taken by a company which…
What is Winding Up? A company may wind up its affairs if it is unable to carry on its business, or it is not able to meet the financial obligation, etc. A company shall be voluntary wound up by itself or can opt for a modes given below. By tribunal Voluntary Winding up by Tribunal: there are certain circumstances where the company shall be wound up by the Tribunal: A company may, on a petition…
SEBI vide its notification dated November 16, 2018 notified sixth amendment of SEBI (Listing Obligations and Disclosure Requirements) Regulations. Gist of the major changes are as under: Insertion of definition: Fugitive Economic Offender has been defined as an individual who is declared as defaulter under section 12 of Fugitive Economic Offenders Act, 2018 Substitution of existing clause – Regulation 31A: Conditions for Reclassification of promoter / promoter group – 1) Eligibility: Promoter(s) making an application…