Voluntary Winding up takes place when the company is not making any profits or owners don’t want to run the Company any further. However, a company does not get wind up by merely leaving it unattended.
The Companies Act has prescribed a detailed procedure of closure of a company and if the company is not closed in the same manner and the company is left without any filings and audits then directors may attract disqualification and the company and directors shall be liable to fine.
In this article, we have analyzed the provisions related to disqualification like conditions of disqualification, consequences, how to restore the same etc. So, if you are also a director of any company, then this piece of write-up will help you know what disqualifications can restrict you to remain on board for another term or if you are a disqualified director, how you can revive your directorship.
Legal Entity Identifier (“LEI”) is a concept that has been implemented at the global level. The concept of the Global Legal Entity Identifier System (“GLEIS”) has been set up by Global regulatory authorities to address the global financial crises.
Registration under the start-up India scheme is a very common point of discussion and every newly incorporated company or entity always have multiple questions related to the startup India scheme such as who is eligible to recognize under the Startup India Scheme, what tax benefits are available, whether government provides any grant or subsidy or funding to such entities, whether any loans are provided at a discounted rate to such entities etc.
Employee Stock Option Plan (ESOP) is one of the old methods of acknowledging the contributions of employees in the company by giving them certain ownership in the company. Traditionally, ESOPs were issued to the senior employees of the companies to acknowledge their contribution in building companies.
Guidelines of professional conduct: Independent directors are part of the board itself and various committees like audit committee, risk management committee, etc, and hence, a participators in major working and decisions of a company relating to financial statements or financial transactions or legal and regulatory compliances, etc.
‘CARO’ 2020 | clause-wise analysis. CARO 2020 is a new format for issue of audit reports in case of statutory audits of companies under Companies Act, 2013.
Are you also thinking of taking your private company into a public company or you are confused that whether you should convert your private limited company into a public limited company? Well, this is a big decision
As per Section 185(2) of the Companies Act, A company is allowed to provide any loan or guarantee or any security in connection with any loan taken by any person in whom any of the directors of the company is interested.
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