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Showing posts from April, 2017

Advantages - APPOINTMENT OF WHOLE TIME COMPANY SECRETARY

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Advantages - APPOINTMENT OF WHOLE TIME COMPANY SECRETARY Short Summary: In this Flash editorial, the auditor begins by referring the provisions of section 203 of Companies Act, 2013 and Section 383A of Companies Act, 1956 concerning to the whole time Company Secretary of the Company also makes an endeavor to light up on provisions of penalty on non appointment Company Secretary via decided case laws. The main thrust of the article, conversely, is upon the provisions of section 203(1) of Companies Act, 2013 read with rule 8 and 8A of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 which deals with requirements of appointment of Company Secretary and most hot case laws decided by the Bengaluru Benche of National Company Law Tribunal in the case of [1] CARMELS AISA HOLDINGS PRIVATE LIMITED . Introduction: Thus far, as per section 383A of Companies Act, 2013 every company having paid-up share capital of Rs.  5 crore shall have a whole-time sec

VOLUNTARY WINDING UP- “IBC”

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VOLUNTARY WINDING UP- “IBC” SHORT SUMMARY: VIA Notification No.  IBBI/2016-17/GN/REG010 dated 31st March, 2017 IBBI has notified the   Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017. The same has been published in the official gazette. As a result of the same w.e.f. 1 st April, 2017 voluntary winding up shall be conduct under Insolvency and Bankruptcy Code, 2016 (hereafter referred as “IBC”). In this Flash editorial, the auditor begins by referring notifications for applicability of provisions of Voluntary Liquidation/ winding up under Insolvency and Bankruptcy Code, 2016. The main thrust of the article, however, is upon the provisions / regulations, of IBC concerning liquidation of a corporate person - companies, limited liability partnerships and any other persons incorporated with limited liability and process of liquidation under these regulations. Members’ Voluntary Liquidation   is the option for solvent companies