In India, with the surge in industrialization came a multitude of issues. To address these concerns, the government introduced several laws, including the Companies Act, 2013. On 1st June 2016, following the recommendation of the Justice Eradi Committee, the National Company Law Tribunal (NCLT) was...
Explore the fundamentals of Producer Companies as governed by the Companies Act 2013, encompassing their formation, objectives, governance structure, taxation, compliance, and more, facilitating collaborative efforts in agricultural production and marketing....
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In the realm of business, change is inevitable, and navigating through its ebbs and flows is intrinsic to entrepreneurship. There are occasions when entrepreneurs find themselves compelled to make the significant decision to close their business. Understanding the legal procedures for closing a company, particularly...
In 2013, the enactment of the Companies Act introduced a significant reform known as the one person company (OPC), allowing for the incorporation of a company by a sole individual. Recently, the Ministry has established guidelines delineating the process for converting an OPC into a...
This article discussed how companies could be revived through applications to the NCLT. Revival scenarios occur when a company's name gets struck off from the Registrar of Companies or when a company is declared sick. It's known that the Companies Act, 1956, was replaced by...
Operating a company is never easy, and sometimes tough decisions to shut down a company become inevitable for its founders. Over the past three years, approximately 3.8 lakh companies have been struck off under the Companies Act, 2013. When it comes to closing a company,...
The Director’s Identification Number (DIN) serves as a vital identity proof for directors within a company. It was a mandatory requirement, and obtaining it involved a straightforward process of filling out forms and submitting necessary documents and fees through the MCA Portal. This article explores...
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Loans played a crucial role in financing companies alongside equity in the past. Under the Companies Act of 1956, companies were permitted to borrow from directors, shareholders, or directors' relatives. However, with the amendment of the act, the New Companies Act of 2013 removed the...
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