company registration in bangalore

Future Approach towards Frauds – Company Registration in Bangalore

As you are aware of the frauds, in order to have all current instructions on the subject at one place, the Reserve Bank of India issues updated circulars/notifications of the company registration. The instructions issued on the captioned subject as updated on June 30, 2014 are reproduced in the Master Circular enclosed. The master circular has also been placed on the RBI website. Introduction Incidence of Frauds in NBFCs is a matter of concern. While the primary responsibility for preventing…

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Acceptance of Public Deposits – Company Registration in Bangalore

Restriction on Acceptance of Deposits No housing finance company shall accept or renew public deposits unless the housing finance company has obtained minimum investment grade rating for its fixed deposits form any one of the approved rating agencies for Company Registration  at least once a year and a copy of the rating is sent to the National housing bank and it is complying with all the prudential norms, provided that: A housing finance company having obtained credit rating for its…

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Sweat Equity Shares – Company Registration in Bangalore

Sweat Equity Shares Under section 79 A of the 1956 Act equity shares can be issued to employees or directors of a company at a discount or for consideration other than cash, in recognition of their contribution for providing know-how or making available intellectual property rights or value additions to the benefit of the company. The contribution made by the employees/directors generate increased profits to the company for a number of years and sweat equity provides a new form of…

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Registration of prospectus – Company Registration in Bangalore

Registration of Prospectus Section 60 of the 1956 Act, which deals with registration of prospectus also corresponds to section 26 of the 2013 Act. The need for company registration is explained by the company law committee: ” This section deals with the registration of prospectus and follow section 41 of the English Act in important respects. We have also made certain additions by providing that where a prospectus names any person as auditor, attorney, solicitor, banker or broker of the…

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Summary of Underwriting – Company Registration in Bangalore

Scope of section 76 of the Companies Act, 1956 Section 76 of the 1956 Act deals with an important subject of payment of commission to subscribers and others who procure capital for the company. It is usual in the case of public companies, when shares are offered to the public for subscription, to make certain of obtaining the necessary capital by having the issue underwriting. Without an authority like the one provided by section 76 of the 1956 Act, it…

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Retiring Directors – Company Registration in Bangalore

Meaning of Retiring Directors Expressions “retiring directors”, “rotational directors” and “rotating directors” are frequently used synchronously to convey the same meaning. In Section 256 and section 257 “retiring director” means a director retiring by rotation. This refers to a director appointed by the company in general meeting and retiring by rotation at such meeting provided by section 256. Persons appointed as additional directors under section 260, persons appointed to fill casual vacancies under section 262, persons appointed as alternate directors…

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Do you wish to commence a new business – Company Registration in Bangalore

Do you wish to commence a new business? The memorandum of every new company shall state the objects for which the company is proposed to be incorporated and any matter considered necessary in furtherance thereof; In case of companies in existence immediately before the commencement of the 2013 Act, its objects clause may continue to state the objects in three categories viz., a) the main objects of the company which the company will pursue on its incorporation; b) the objects…

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