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Definition of relevant issues of the company – Business Registration

Extracts relevant to new terms/definition  of Companies Act,2013 The JJ Irani committee was an Expert Committee  set up by the Ministry of Company Affairs which mentioned in Order dated 2nd December ,2004,to advise the Government to the new Company Registration  Law.The committee had the benefit of participation by several experts in various disciplines .It took a comprehensive view in developing a perspective on changes necessary in the companies Act,1956 in context of the economic and business registration environment.One of the…

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Promoters Contribution of a company – Business Registration

Chapter 3 Part 3 of the SEBI(ICDR) Regulations,2009 and specifically 32,33 and 34 of the said regulations provide for promoters contribution.The said provisions are explained below discussion. Minimum Promoters Contribution – Public issue The promoters of the issuer shall contribute in the public issue as follows: In case of an initial public offer,not less than twenty percent of the post issue capital;which provided that in case the post issue shareholding of the promoters is less than twenty percent. Alternative investment…

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Issue of Rights shares to Existing Shareholders- Business Registration

Companies Act 2013 : Section 62 – Issue of rights shares Section 62 of the 2013 Act was notified and has been in effect from 01-04-2014,except Sub-sections(4) to (6) which have not been notified ,at the time of going to press.Section 62 of the 2013 Act,like Section 81 of the 1956 Act,provides for issuance of shares to employees under Employee’s Stock Opinion Scheme and issue of shares on preferential basis.Sub-sections(4) to (6) of the Section 62 which have not been…

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Alterations Corresponding to the Companies Act – Business Registration

Alterations of Memorandum of the Company[Section 13(1) of Companies Act,2013] A Company may,in general,alter its memorandum ,by passing a special resolution and complying with other conditions as provided below.It is most important to note that this is subject to section 61 of the 2013 Act,which lays down the limitations and conditions by which a limited company may take alterations of its share capital. This Corresponds broadly to section 17 of the 1956 Act,which also provided for a special resolution to…

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