It is clear that Companies can give a loan to their Managing Director/ WTD without any restriction under Section 185. However, as per Section 186, it is not mandatory to charge interest on such a loan.
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 August 2021.
Private companies are those companies whose articles of association restrict the transferability of shares and prevent the public at large from subscribing to them.
Mark your calendars with these Income Tax, GST, PF, and ESI due dates that lie in the month of August 2021, together with the due dates for Company and LLP Annual Filing.
A company's requirements for the compliances have been changed in comparison to the compliance requirement as on 01st April 2014 when the Companies Act, 2013 came into effect.
As per the Companies Act, 2013, once a director is disqualified u/s 164(2) the director so disqualified shall continue to be disqualified for a period of 5 years.
To facilitate, the companies and businesses in India, MCA has allowed them to hold their Annual General Meeting by Video Conferencing or other audiovisual means amidst the COVID-19 crisis.
Every company other than an OPC shall in each year, hold in addition to any other meetings, a general meeting as its annual general meeting within a period of six months, from the date of closing of the FY.
In order to ensure that insolvency professionals remain compliant with the letter and spirit of IBC, IBBI has issued a circular on 'Monetary Penalties to be imposed by an Insolvency Professional Agency'.
Rights issue is an invitation to existing shareholders to purchase additional new shares. Private placement is the sale of stock shares to pre-selected investors. Preferential allotment involves bulk allotment of fresh issue of shares at a pre-determined price.
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English