Giving effect to the decision taken by the GST Council in its 40th meeting held on 12-06-2020, the Central Board of Indirect Taxes and Customs (‘CBIC’) has issued an order allowing one-time relaxation to taxpayers to restore their cancelled GST registration by 30-09-2020. The benefit can be available in those cases where the registration was […]
The evolution in the legal structure of a classic partnership firm brought about the greatest single invention of modern times as regards the formats of conducting business are concerned. Not only did the Achilles heel turn around with the inception of the concept of “limited liability partnership” (LLP) but the shortcomings of a partnership firm […]
Your Role as a director: A Company as an artificial person, acts as through directors who are elected representatives of the shareholders and execute decision making for the benefit of shareholders. When the director is appointed as whole-time director of the Company then that particular director shall be considered as employee director or whole-time director […]
Section 164(1) Provides that a person shall not be eligible for appointment as a director of a company, if – (a) He is of unsound mind and stands so declared by a competent court; (b) He is an undischarged insolvent; (c) He has applied to be adjudicated as an insolvent and his application is pending; […]
The popular forms of NGO’s in India are Trust, Society and section 8 Company. All are associations of persons, gathered for a motive, for their mutual benefit All three types are governed by different laws and formed for the benefits of its members or people covered by the by-law. The basic difference between these three […]
Board of Directors A company, though a legal entity in the eyes of law, is an artificial person, existing only in contemplation of law. It has no physical existence. It has neither soul nor body of its own. As such, it cannot act in its own person. It can do so only through some human […]
Preference shares are often referred to as preferred stock. It means they are preferred over other types of shares for payment of Dividend and return of Capital. If the company enlists for bankruptcy, preferred shareholders are entitled to be paid before common shareholders from company assets. Most of the preferred shares have a fixed dividend, […]
MODEL RESOLUTION TO BE PASSED AT AN ANNUAL GENERAL MEETING TO APPOINT BRANCH AUDITOR “RESOLVED THAT in accordance with section 143 (8) of the Companies Act, 2013 M/s. ……….., Chartered Accountant/s, who are qualified for appointment as Auditor of the Company under section 139 of the Companies Act, 2013 be and are hereby appointed as […]
The Board resolves that: in accordance with section 140(1) of the Companies Act, 2013 read with rule 7 of Companies (Audit and auditors) Rules, 2014 and subject to the approval of the Company at a general meeting , ……….., Chartered Accountant, the Auditor of the Company be removed from his office as auditor ; RESOLVED […]
“RESOLVED THAT consequent to the casual vacancy caused by the sudden death of …………….………..Chartered Accountants and existing auditors of the company, M/s. …………………. ………….., Chartered Accountants, be and are hereby appointed as Auditors of the Company to fill the casual vacancy and they shall hold office until the conclusion of the next annual general meeting […]