This article will give you a glimpse of provisions prescribed, the procedure involved, practical difficulties and time involved in the conversion of LLP into a private limited company.
Employees' Provident Fund Organization (EPFO), India Ministry of Labour & Employment, Government of India has issued Circular dated 20th May 2020 providing FAQ'S ON REDUCTION IN STATUTORY RATE OF EPF CONTRIBUTION FROM 12% TO 10%.
Private Placement of Shares : Nine Things to Know
LLP is a body corporate that includes features of both a partnership firm governed by the Indian Partnership Act, 1932, and Private Limited or Limited Company governed by the provision of Companies Act,2013. Since LLP contains elements of both "corporate structure" as well as "partnership firm structure", LLP is called a hybrid between a company and a partnership.
There is a suspension of initiation of insolvency proceedings up to one year depending upon the pandemic situation
The Hon'ble Finance Minister announced in her press briefing regarding various allotment of funds for MSMEs under various heads and she also elaborated the new definition of MSME.
The category of MSME enterprises is determined considering the amount of investment made in a plant, machinery, or equipment. The Investment and Annual Turnover as announced by FM N. Sitharaman on 13th May is now proposed to be revised.
The third tranche of the Economic Package was focused on the degradation of the Industrial Infrastructure. Relief measures were given to coal, minerals, defense production, air space management, airports, MRO, distribution companies in UTs, space sector, and atomic energy.
The last tranche of the Economic Package focused on MGNREGA, Health and Education, Businesses and COVID Decriminalization of Company's Act, Ease of doing business, and Public Sector Enterprises and related matters. State governments and resources related to state governments.
The provisions relating removal of auditor and director are contained respectively under Sections 140 and 169 of the companies Act, 2013 (hereinafter referred to as 'The Act'). While Section 140 corresponds to Section 225 of the previous Act, Section 169 replicates substantially the provisions of Section 284 of the 1956 Act
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