Corporate Law Articles

Legal position when cheque issued for payment of premium dishonoured

FCS Deepak Pratap Singh 10 September 2021 at 09:37

Payment of premium is the consideration in the Contract of Insurance and hence without payment of consideration, any contract will not carry on. The premium must be received before the issue of the insurance policy.

Some Facts related to Fast Track Insolvency Process

FCS Deepak Pratap Singh 10 September 2021 at 09:37

The IBC Code, 2016 was introduced in Lok Sabha on 21st December 2015 and passed on 5th May 2016. The upper house of the Parliament passed it on 11th May 2016 and it got the President's assent on 28th May 2016.

Process / Provision of Strike of LLP

CS Divesh Goyal 09 September 2021 at 18:27

The provision in relation to the closure of LLP has been mentioned u/s 75 of LLP Act, 2008. The name of defunct LLP can be struck off by the Registrar Suo-motto or on application by the LLP.

Annual Compliance Calendar Of LLP

CS Divesh Goyal 09 September 2021 at 10:08

Even if LLP does not do any business, it has to comply with statutory requirements such as Annual Return, Balance Sheet, Profit and loss Account, Income tax return etc. every year.

Procedure for Change in Registered Office

CS Divesh Goyal 09 September 2021 at 10:08

As per Section 13 of LLP, 2008 every LLP shall have a registered office to which all communications and notice may be addressed and where they shall be received.

Procedure For Admission Of New Designated Partners

CS Divesh Goyal 09 September 2021 at 10:08

As per Section 7 of LLP, 2008 every LLP shall have at least two Designated Partners who are individuals and at least one of them shall be a Resident in India. Only an Individual can be appointed as a Designated Partner.

Process for Change in name of LLP

CS Divesh Goyal 09 September 2021 at 10:08

In case there is no clause in the limited liability partnership agreement relating to change in the name the same can be made with the consent of all the partners.

Procedure for change in partners

CS Divesh Goyal 09 September 2021 at 09:55

A person can be admitted as a partner in LLP as per the provisions of the LLP agreement and section 22 of the LLP Act, 2008. If the agreement is silent then the partner shall be appointed as per Schedule I.

Corporate Compliance Calendar for the m/o September, 2021

CS Lalit Rajput 08 September 2021 at 09:29

Discussing compliance requirements and important updates under the Income Tax Act, GST Act, FEMA, SEBI, Companies Act, IBBI and other statutory laws for the month of September 2021.

Issue And Redemption Of Preference Shares : Section 55 Of The Companies Act, 2013

Neha Rajan Redekar 07 September 2021 at 17:54

Preference shares are those shares which has priority over the equity shares in payment of dividend. These shares not only have a preferential right to receive dividends but also repayment of capital on winding up.