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It received presidential assent on 29 August 2013, and largely superseded the Companies Act 1956. The Act was brought into force in stages. Section 1 of this act came into force on 30 August 2013. 98 different sections came into force on 12 September 2013 with a few changes. [1] [2] A total of another 183 sections came into force from 1 April ...
In India, the Companies Act 2013 ("Act") regulates the requirement to conduct an annual meeting of the members to discuss the four ordinary businesses. As per section 96 of the Act, every Company requires to conduct such a meeting by serving a notice of 21 days minimum length prior to the meeting either at the latest known address or email id ...
In a new with the Companies Act 2013, section 135 requires companies to spend 2% of their net profit on socially responsible projects, if they have a net worth of over ₹5,000,000,000 (500 crore), or a turnover of over ₹10,000,000,000 (1000 crore), or a net profit over ₹50,000,000 (5 crore). Socially responsible projects are defined in ...
The minutes of certain groups, such as a corporate board of directors, must be kept on file and are important legal documents. [5] [6] [7] Minutes from board meetings are kept separately from minutes of general membership meetings within the same organization. [8] Also, minutes of executive sessions may be kept separately. [9]
As per Rule 6 (Committees of the Board) of the Companies (Meetings of Board and its Powers) Rules, 2014, the Board of directors of every listed companies and the following classes of companies shall constitute an Audit Committee and a Nomination and Remuneration Committee of the Board: All public companies having: Paid-up Capital ≥ ₹10 Crore;
The introduction of the Companies Act 2013 (2013 Act), which replaced the previous Companies Act 1956, was one of the most important legal reforms in recent years (1956 Act). Though the 2013 Act was a start in the right way by introducing important improvements in areas like disclosures, investor protection, corporate governance, and so on ...
In today's puzzle, there are eight theme words to find (including the spangram). Hint: The first one can be found in the top-half of the board. Here are the first two letters for each word: DA. NO ...
The articles of association of most companies incorporated prior to 1 October 2009 – particularly small companies – are Table A, or closely derived from it. However, a company is free to incorporate under different articles of association, or to amend its articles of association at any time by a special resolution of its shareholders ...
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