Knowledge Hub - MMJC - Page 3

Introduction. The constitutional validity of Electoral Bond scheme and the amendments made by Finance Act, 2017 to relevant laws were challenged before the Hon’able Supreme Court of India. After hearing all the concerned parties including the Government of India and the State Bank of India who was authorized to issue electoral bonds, the Hon’able Supreme

Introduction Companies Act, 2013, [‘the Act’] provides for convening of Annual General Meeting (AGM) of companies. The Act provides for compliances and timelines for activities to be undertaken before AGM, during, AGM and after the AGM. One key aspect of pre-AGM compliance is issuing the notice of AGM. The Act provides that AGM shall be

Introduction. Companies Act 2013 (‘the Act’) provides for management of companies by the board of directors on behalf of shareholders. The Act also provides for appointment and retirement/resignation of directors. Generally speaking, all the directors are appointed by shareholders or even if appointed by board, then approved by the shareholders at general meetings. The only

Introduction Section 4 of the Companies Act 2013 (Act) requires a company’s Memorandum of Association (MOA) to state the purpose for which the company is incorporated and any matters deemed necessary to facilitate the purpose of the company. These objects are specified in the object clause of the company’s MOA. This clause is the most important

Introduction. The very concept of Limited Liability Partnership (LLP) originated from the thought that, advantages of companies and partnership firms should be combined in one entity and drawbacks thereof should be eliminated. That is the reason, an LLP has multiple features which resembles that of company. Especially after Ministry of Corporate Affairs (‘MCA’) has made

Provisions with respect to performance evaluation Performance Evaluation is a periodic process which aids the management to assess the performance of the Individual directors and the board as whole which is then further aligned with the organizational goals. Section 134 (3) (p) read with Rule 8 (4) of the Companies (Accounts) Rules, 2014 states the

Introduction The provisions of section 186 of the Companies Act, 2013 (Act) states that a Company can not give loan to any person or body corporate exceeding 60% of its paid-up share capital, free reserves, and securities premium account, or 100% of its free reserves and securities premium account, whichever is more unless a special resolution has been

Introduction. Section 2 clause 60 of Companies Act, 2013 [‘the Act’] defines the term ‘Officer in Default [‘OID’]’[1]. Certain sections of the Act hold an OID responsible for non-compliances viz. sub-section (7) of section 135 of the Act[2], sub-section (11) of section 90[3] of the Act etc., Recently it is seen that adjudicating authorities have

Introduction Over the past many years, the Ministry of Corporate Affairs has taken several steps towards Ease of Doing Business[1]. The Central Government, exercising authority under sections 396(1) and (2) of the Companies Act, 2013, has recently vide notification dated February 2[2], 2024 communicated establishment of a Central Processing Centre (‘CPC’) located at the Indian

Introduction. Ministry of corporate affairs has always been trying to make it easier for companies as well as for the regulator (registrar of companies ROC) to comply with all legal requirements and ensure good governance at India Incorporated. In continuation of these efforts, MCA has come up with a new web-based e-form, called ‘change request