What is Section 26 of Companies Act?

What is Section 26 of Companies Act?

—The date indicated in the prospectus shall be deemed to be the date of its publication. …

What is MCA 21 company law?

MCA21 is an e-Governance initiative of Ministry of Corporate Affairs (MCA), Government of India that enables an easy and secure access of the MCA services to the corporate entities, professionals and citizens of India.

What is Section 42 of the Companies Act?

Section 42 in The Companies Act, 1956. 42. Membership of holding company. (1) Except in the cases mentioned in this section, a body corporate cannot be a member of a company which is its holding company and any allotment or transfer of shares in a company to its subsidiary shall be void.

Which company is exempted from holding AGM?

A company can be exempted from holding its AGM if it sends its financial statements to all persons entitled to receive notice of general meetings of the company within 5 months after the FYE or it is a Dormant Relevant Company which is exempted from preparing financial statements.

What is Section 24 of Companies Act 2013?

Section 24 of the Companies Act, 2013: Power of Securities and Exchange Board to regulate issue and transfer of securities, etc. Section 24: Power of Securities and Exchange Board to regulate issue and transfer of securities, etc.

How many types of general meetings are there?

There are two types of general meetings: Annual General Meetings and Extraordinary General Meetings. There is no requirement for a private company to hold an AGM, though some companies’ articles, drafted when there was a statutory requirement to hold an AGM, will still provide for one to be held.

Is section 42 applicable to private companies?

Companies Act, 2013. [42. (1) A company may, subject to the provisions of this section, make a private placement of securities. Provided that the private placement offer and application shall not carry any right of renunciation.

What is a Section 42 transfer?

Section 42 of the Act, in particular, is a useful provision where a natural person seeks to transfer business assets to a company and where a group of companies seeks to restructure or move assets to different companies or reporting lines within the group.

When was the Companies Act passed in India?

The Companies Act 2013 makes comprehensive provisions to govern all listed and unlisted companies in the country. The Companies Act, 2013 passed by the Parliament has received the assent of the President of India on 29th August, 2013. The Act consolidates and amends the law relating to companies.

Is the Companies Act, 2013 a new law?

the Companies Act, 2013, substantial number of sections and most of the Rules thereunder have been notified. The new law is a paradigm shift in the way every stakeholder in a corporation

When was limited liability company introduced in India?

In the year 1850, taking the English Joint Stock Companies Act 1844 as a base, a provision was made for registration of joint stock companies in India. After this the Joint Stock Companies Act was passed in India in the year 1857. Under this Act the concept of limited liability was introduced for the first time in India.

What was the purpose of the bare act?

Meetings of Board Debentures, annual return, registration of charges, books of account and their inspection Provisions relating to filing of applications, documents, inspection, etc., in electronic form Application of fines. An Act to consolidate and amend the law relating to companies.

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