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MCA imposed Penalty for failure to issue and transfer shares in Demat form
Others
CA. Kavit Vijay

MCA imposed Penalty for failure to issue and transfer shares in Demat form

As per Section 29(1A) of Companies Act read with Rule 9A of The Companies (Prospectus and Allotment of Securities) Rules, 2014, every unlisted public company shall ensure that before issuance of any securities entire holding of securities of its promoters, directors, key managerial personnel has been dematerialised in accordance with provisions of the Depositories Act 1996. Further,  every shareholder of an unlisted public company is required to dematerialise its securities before transfer, if such transfer is made on or after 2nd October, 2018.

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Public Limited Company
Others
CA. Kavit Vijay

Dematerialisation of shares by Private Limited Company

Dematerialisation of shares is the process of converting physical shares and securities into digital or electronic form. Concept of dematerialisation of shares is so far applicable for public Listed companies only wherein shares are held in Demat account of the shareholder and no physical copy of shares is required to be held.

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Investigation under PMLA
Others
CA. Kavit Vijay

Investigation under PMLA

Hearing the term ‘search’ or ‘investigation’ brings people in a terrified state. In India, various laws have different rules and regulations pertaining to search or investigation such as Income tax law, Good and Service Law etc.

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Loans or Deposits from Members or Shareholders | Companies Act, 2013- Part-2
Others
CA. Kavit Vijay

Loans or Deposits from Members or Shareholders | Companies Act, 2013- Part-2

Apart from Loans from Banks and NBFCs, companies do have options to borrow funds from shareholders or members. However, since funds are involved of the shareholders, therefore, company law contains detailed provisions related to loans and deposits from Member or shareholders. Companies are required to follow detailed procedure to obtain deposits and also are required to repay the same within committed time.

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Loans or Deposits from Members or shareholders| Companies Act, 2013- Part-1
Others
CA. Kavit Vijay

Loans or Deposits from Members or Shareholders | Companies Act, 2013- Part-1

Companies are always in need of funds and it keeps on looking for various sources of funds such as share capital, Loans from banks or Financial institutions, loans from other persons etc. Issuance of shares involves a lot of compliances and it compromises shareholding as well. Similarly, loans from banks and NBFC is subject to detailed compliances, availability of mortgage or security and timely payment of interest and principal amount. Therefore, companies prefer acceptance of loans from other persons.

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