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 Read More
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 Read More
Rights of existing members – Company Registration in Bangalore
Section 81 of Companies Act, 1956 Section 81 of the 1956 Act granted pre-emptive rights to existing members of the company and provided for issue of rights shares to existing shareholders. However, the section also permitted the company to issue Read More
Shareholder’s rights – Company Registration in Bangalore
Section 82 of Companies Act, 1956 As discussed earlier there is a difference between the terms negotiable and transferable and shares and debentures are not negotiable instruments, but transferable of the shareholder. Shares or debentures are movable property as made Read More
Issue of convertible debentures – Company Registration in Bangalore
Section 117 of Companies Act, 1956 Issue of convertible debentures The 1956 Act did not empower a company to issue partly or fully convertible debentures. However, sub-section (1) of s. 71 of the 2013 Act is a new provision empowering Read More