business registration

Rectification of Register of Members – Company Registration in Bangalore

When a request for company registration of transfer or transmission of shares or other rectification securities issued by a private company is refused by its Board of Directors. Whether such refusal is in pursuance of any power of the company under its articles or otherwise the private company should within a period of thirty days from the date on which the instrument of transfer, or the intimation of such transmission, as the case may be, was delivered to the company,…

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Introduction to Article – company Registration in Bangalore

Introduction to Article – Companies Act, 1956 Section 26 of the 1956 Act dealt with Article prescribing regulations and made the article of association compulsory in cases of unlimited companies, companies limited by guarantee and a private company limited by shares. As regards public company limited by shares, there is no obligation to register articles of association. The Article of association prescribe the rules and regulations to be applied in the governance of the company. Section 27 of the 1956…

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Companies Incorporation outside India – Company Registration

Application of Act to the foreign companies Where not less than fifty percent of the paid-up share capital ,whether the company is held by one or more citizens of India or by one or more companies or corporate bodies incorporated in India, or by one or more citizens of India and one or more companies or bodies corporate incorporated in India, whether singly or in the aggregate, such company shall comply with the provisions of this chapter and such other provisions…

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Alteration of Objects – Company Registration in Bangalore

Alteration of Objects Section 17(1) of the 1956 Act contained clauses (a) to (g) specifying purposes for which the object clause in the memorandum could be altered. The 2013 Act has not specified any purpose for which the object clause or any other clause of the memorandum could be altered, thus leaving the same to the wisdom of the shareholders. The only restriction or additional conditions to comply with or specified in the case of the company wishing to alter…

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Definition of relevant issues of the company – Company Registration in Bangalore

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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Company’s duty to register its charges – Company Registration in Bangalore

Every company is obligated for creating a charge within or outside India,on its property or asserts or any of its undertakings, whether tangible or otherwise,and situated in or outside India,to register the particulars of the charge signed by the company and the charge-holder together with the instruments ,if any,creating such charge ,with the registrar within thirty days of its creation. Form and Manner for Register a company The application for registration of charge shall be submitted to the registrar for…

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Effect of Memorandum & Articles- Company Registration in Bangalore

Section 36 of the 1956 Act corresponds to section 10 of the 2013 Act and explains the effect of the memorandum and articles.They are very important documents and when they are registered they have the following impacts of : They bind the company and the members thereof to the same extend as if they respectively had been signed by the company and by each member. All deeds/covenants on its and his part must observe all the provisions of the memorandum…

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All you need to know about the incorporation of a company

Incorporation of companies and its related procedures will be discussed here.  The company can be incorporated through Simplified Proforma for Incorporating a Company electronically (SPICe-INC-32) with e-MoA (Memorandum of Association) (INC 32), e-AoA (Articles of Association) (INC-34) is the default option and most companies are required to be incorporated through SPICe only. Incorporation through SPICe: Stakeholders can avail of 5 different services (Reservation of name, Allotment of Director Identification Number (DIN), incorporation of new company, allotment of PAN and TAN)…

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All you need to know about internal Audit of the company

All you need to know about internal Audit of the company The concept of internal audit was not expressly provided in the 1956 Act, and it did not make it compulsory for any company or type of companies to have an internal audit system. However, the importance of internal audit had been well acknowledgement in Companies (Audit Report) order, 2003, by requiring the auditor of certain classes of companies to comment on this area. According to the order, the statutory…

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Amendments to NBFC Regulations – Company Registration in Bangalore

Amendments to NBFC Regulations – Company Registration in Bangalore There have been certain developments in the recent past in the prudential standards for the banking system pertaining to the period for which a non-performing asset remains a sub-standard asset or period after which a sub-standard asset would become a doubtful asset. Reserve Bank of India has also issued guidelines for financing of infrastructure projects by scheduled commercial banks and All-India Financial Institutions. In order to align the prudential norms applicable…

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