Corporate Law Articles

Companies will not be able to receive share app money in cash

CA Nitesh Kumar More 08 November 2013 at 11:30

Penalty upto 2 crores: Private/Public Ltd. Co. will not be able to receive share application money in cash, utilize share application money for business & will have to open separate a/c for share application Many of the private limited compani

The Role of corporate governance in coping with Financial Crisis, Corporate Scandals and Failures

CS Suhita Mukhopadhyay 08 November 2013 at 11:30

Corporate greed & corruption witnessed in the Rs. 1.76 lacs crore 2G scam, which involved many large businesses last year only got bigger this year with a host of other cases grabbing the limelight. Be it the much bigger Rs.1.86 lacs coal scam,

Can a company give loan to its group companies?

CA Nitesh Kumar More 06 November 2013 at 12:19

Many corporate including Pvt Ltd Cos have other related group companies and they transfer money to & from other company as and when require. Stop doing th

Winding Up of the Company - a quick summary

CA Chiranjiv Kumar 05 November 2013 at 12:24

I know about voluntary winding up, tell me the cases in which there is compulsory winding up? 1. Default is made in holding statutory meeting and filing report (winding up at courts discretion). 2. Business is suspended/not commenced f

Banking Regulation Act,1949 - a quick summary

CA Chiranjiv Kumar 04 November 2013 at 11:41

I want to know about collateral held by the banks. What if a borrower fails to repay loan and his collateral seized? Disposal of asset within 7 years or (12 years if extended by RBI) by the bank. What if banking company want to use that asset for bu

The Companies Act, 2013- Provisions relating Woman directors

G S Rao 04 November 2013 at 11:41

Introduction: Although the constitution of India has granted men and women equal rights, we still find that employment of women is not preferred. Thus opportunities for women are limited for e.g., women are not preferred in Army /Air force in cert

Accounts of the Company - a quick summary

CA Chiranjiv Kumar 31 October 2013 at 12:43

Given below are some of the common questions asked regarding the maintenance of Books of Accounts of the company. Where the books of account should be kept? 1. At registered place. 2. At any other place, only if, Board resolution is passed

Audit of the company - a quick summary

CA Chiranjiv Kumar 30 October 2013 at 10:52

Given below are the some of the common questions asked regarding the audit of the company. What if auditor is taking audit to fetch personal gain in a company? Thats why there is a limitation imposed by CG prohibiting the appointment of audi

Related Party Transaction- Companies Act, 2013

CS Ankur Srivastava 22 October 2013 at 12:36

RELATED PARTY TRANSACTIONS UNDER NEW COMPANY LAW New Companies Act, 2013 emphasis on the Related Party Transactions and the manner of approval & disclosure thereof. Under section 188, consent of Board of Directors of company or in certain ca

Issues with sudden notification of 98 sections of the Act

Aalok Chhaperwal 22 October 2013 at 12:35

The Ministry of Corporate Affairs notified 98 sections of the Companies Act, 2013 on 12th September. Although notification of 98 sections of New Act is welcome but MCA has notified these sections when only a part of the draft rules made live for pub