Company Law Notes Wordpress Com-Books Pdf

Company Law Notes WordPress com
10 Apr 2020 | 54 views | 7 downloads | 5 Pages | 208.56 KB

Share Pdf : Company Law Notes Wordpress Com

Download and Preview : Company Law Notes Wordpress Com


Report CopyRight/DMCA Form For : Company Law Notes Wordpress Com



Transcription

Company Law Notes, 1 In reference to the point 1 2 the promoters are eligible if it is mentioned in the contract. 2 Even where the article also provides that company shall be liable to pay remuneration or reimbursement of. expenses to the promoters THEN ALSO the company is not at all bound by such provision. Mode of payment of remuneration,Lump sum payment,Issue of shares at discount. Right to subscribe for company s shares in future at a fixed price. Purchase of property of promoter at a high price Difference is taken as remuneration. Payment of commission on the shares sold by promoters. Incorporation of a company Procedure of registration Section 12. 1 Decide the type of the company which is to be incorporated. 2 Decide the place of registered office of the company i e the state in which the registered office of the company. will be situated,3 Availability of name, An application in Form No 1A shall be made to the registrar with the prescribed fee Rs 1000 for ascertaining. the availability of the proposed name i e six names in the order of preference. ROC shall inform whether the proposed name is available or not within 7 days of the receipt of application. Such name shall be adopted by the company within 60 days of the approval. 4 Draft the memorandum of association and article of association printing of the same and vetting of the same. 5 Both the documents must be stamped and dated dating should be made after the date of stamping. 6 Get the MOA and AOA signed by the subscribers,Public company Private Company. Along with the name address occupation description in the presence of at least witness. 7 Documents required to be filed with the registrar. A statutory declaration stating that all the legal requirement relating to the registration of company have been. complied with form 1 It must be signed by practicing CA CS high court and Supreme Court advocate. List of the directors and their written consent, A written and signed undertaking by the directors to take the qualification share if articles provide.
A Copy of the agreement which the company purposes to enter into with an individual for an appointment as. managing director whole time director or manager, 8 Documents to be field with ROC before incorporation or within 30 days of incorporation. Address of the registered office Form 18,Particulars of directors and secretary Form 32. 9 If the registrar satisfied that all the requirement have been duly complied with then the registrar shall retain. and register the documents filed with him, 10 On registration the registrar shall issue a certificate of incorporation of the company. Rohit Natani CS NET M com 9783110025 Page 2,Company Law Notes. Effects of incorporation section 34,The company becomes body corporate.
The company acquires a legal recognition i e exist in the eyes of law. A company gets a name, It comes into existence from the date of incorporation. The objects of the company are laid down, A certificate of incorporation is a conclusive evidence because of the following matter Section 35. All the requirement of the act have been complied with in respect of registration matter precedent and. incidental thereto, Matter precedent means the matters which are related to the pre incorporation. Incidental means matters which are linked and connected with provisional contract. An association is a company authorized to be registered under companies act 2013. Meaning of Conclusive Evidence, It means that no enquiry shall be allowed to be made regarding the correctness or incorrectness of any particulars. contains in the certificate of incorporation, The certificate of incorporation can t be challenge in any court or tribunal on any grounds what so ever once issued.
Certificate of incorporation shall remain valid even in the following cases. Where one person has signed on behalf of all subscribers. Where all the signatories to MOA are minors,Where all the signatures on MOA are forged. Where illegal object are incorporated in object clause. CASE LAW Jubilee cotton mills,Pre Incorporation or Preliminary Contract. Definition It means a contract entered into by the promoters on the behalf of the proposed company i e before the. incorporation of the company These contracts are usually made by the promoters to acquire some property or rights. for the proposed company,Rules regarding the pre incorporation contract. A When company adopts a pre incorporation contract. The contract can be enforced by the company,The contract becomes binding on the company. The promoters are not personally liable,B When company does not adopts.
It shall not bind the company, If the company takes some benefits of the pre incorporation contract then also it is not bound by it. Rohit Natani CS NET M com 9783110025 Page 3,Company Law Notes. A company cannot ratify a pre incorporation contract. A company cannot enforce a pre incorporation contract after the incorporation i e a company cannot sue the other. party to the contract,The promoters are personally liable. Ratification means to give formally consent In terms of company law ratification means to give formally. consent with retrospective effect, Since ratification has retrospective effect if the company were allowed to ratify the contract then it would mean. as if it contracted on the day the contract was formed. Therefore the company contracted before it was formed which is impossible. When the liability of the promoter ceases, The company has accepted adopted the pre incorporation contract after the incorporation of the company.
The company has communicated such acceptance to the other party. Hence a fresh contract has been entered into by the company and the other party. Provisional contract section 149 When a public limited company makes a contract after its incorporation but before. obtaining the certificate of commencement of business then such a contract is known as provisional contract. Note A provisional contract becomes binding on the company when it obtains the certificate of commencement of. Non Applicable for,A company having no share capital. Private co,Pre incorporation contract Provisional contract. It means a contract entered into by the promoters on When a public company makes a contract after its. the behalf of the proposed company i e before the incorporation but before obtaining the certificate of. incorporation of the company commencement of business then such contract is known as. provisional contract, These are entered by both private and public company These are entered by public company only. Such contract are legally not binding on the company Contract arthritically become binding without any. ratification, Promoters are personally liable for this contract Company is personally liable. It is made before incorporation It is made after incorporation but before commencement of. Certificate of commencement of business Section 149. A public company cannot commence any business until it has obtained the certificate of commencement of business. A The company has issued prospectus, The company must have received the minimum subscription 90 of the issued capital and the share must have.
been allotted upto the amount of minimum subscription. The company must have received the amount due on application and allotment from every director or manager. Rohit Natani CS NET M com 9783110025 Page 4,Company Law Notes. The company shall have to refund the entire amount if it fails to obtain the permission for shares to be dealt in. or stock exchange, The company shall file a declaration with the registrar that all the legal requirement have been duly complied. B The company has issued the statement in lieu of prospectus. The company has file a statement in lieu of prospectus to the registrar. The company must have received the amount due on application an allotment from every director or manager. The company shall file a declaration the registrar that all the legal require have been duly complied with. A public company must obtain the certified of commencement of business within one year of its incorporation. If a company does not commence its business within a year of its incorporation or suspend business for the. whole year then the company may be wound up by the court. If a company goes into liquidation before it obtains a certificate of commencement of business then provisional. contracts are not enforceable,Rohit Natani CS NET M com 9783110025 Page 5. Company Law Notes Rohit Natani CS NET M com 9783110025 Page 1 Chapter 3 Incorporation of a Company Promotion It means the preliminary steps undertaken by the promoters to bring a company into existence Promoter Section 2 69 Definition It means a person Who has been named in prospectus or is identified by the company in annual return

Related Books

2 Scandinavian TCM Congress in Denmark 3 6 September 2009

2 Scandinavian TCM Congress in Denmark 3 6 September 2009

Welcome to the 2nd Scandinavian TCM Congress in Denmark Once again we look forward to the pleasure of gathering Chinese Medicine practitioners from all over the world to the beautiful and homely northern congress spot Slettestrand During four inspiring congress days Chinese Medicine will broaden our horizon and show us the depth of our ancient classic medicine whether the approach is

PROGRAM GUIDE 0104 nccdn net

PROGRAM GUIDE 0104 nccdn net

Eve SpiritSpeaks MD Psychiatrist Psychic Energy Reader M902 Extra Ocular Vision The Miracle of Blindfolded Sight F1 Food Alchemy Papua Coffee Best Coffee in the World P 5 Food Not Bombs A Global Movement to Transform the World 458 Freedom Through Wisdom Inner Journeys and Precious Wisdom 835 Future Science Keys of Enoch and New Realities TV M10

What s your vib e

What s your vib e

can transform any vi be from high stress to no problem Eve ryage has its vi be Your Face 24 Karat Gold Facia l All that glitters is gold If your skin could use the golden touch to restore its youthful luminosity this most opulent of facials uses an alchemy of expert touch medicinal plants Rose Quartz and a pure 24 Karat Gold Leaf mask to bring about miraculous results The time

Element Encyclopedia of Secret Signs and Symbols

Element Encyclopedia of Secret Signs and Symbols

The Element Encyclopedia of Secret Signs and Symbols The Ultimate A Z Guide from Alchemy to the Zodiac Adele Nozedar For Adam and for the seven secrets In every grain of sand there lies Hidden the soil of a star Arthur Machen I do not need a leash or a tie To lead me astray In the land where dreams lie Yoav In Nature s temple living pillars rise Speaking sometimes in words of

Art Making COURSE CODE 11and12 education tas gov au

Art Making COURSE CODE 11and12 education tas gov au

Art Making provides a pathway to level 2 courses such as Art Practice Level 2 and Visual Art Level 2 Resources In certain studios such as printmaking photography and ceramics specific resources such as etching equipment photo editing software e g Photoshop potters wheels and kilns may be required Providers are advised to research the requirements for individual studios Course Size

EDUCATION IN THE PACIFIC ISLANDS University of Hawaii

EDUCATION IN THE PACIFIC ISLANDS University of Hawaii

EDUCATION IN THE PACIFIC ISLANDS by Tupeni l Saba I have found it useful in looking at the needs of education in the Year 2000 to discuss first the concept of education and its application to the Pacific islands second to examine its development with particular emphasis on the development of formal institutions and how these attempted as they were expected to meet the changing needs of

Education Systems in the Pacific UNESCO

Education Systems in the Pacific UNESCO

Website www egostateinternational com Email estioffice

Website www egostateinternational com Email estioffice

amp Francis Professor arabasz s 2005 book Hypnotherapeutic Techniques 2nd Ed co authored by John G Watkins was awarded the 2005 SCEH National Award for the Best Book on Hypnosis His 2008 Advanced Hypnotherapy Psychodynamic Techniques textbook with John G Watkins won the 2010 Roy

Ericksonian hypnosis and hypnotherapy a case study of

Ericksonian hypnosis and hypnotherapy a case study of

PRIMARY SCHOOL CHILDREN EXPERIENCING EMOTIONAL DIFFICULTIES REN ALICE DANIELS BA BA HONS Psych Assignment in partial fulfilment of the requirements for the degree of Master of Education in Educational Psychology MEd Psych at the Stellenbosch University SUPERVISOR Prof R NEWMARK CO SUPERVISOR Dr S BADENHORST April 2005 DECLARATION I the undersigned hereby declare that the work

VOLUME 2 ISSUE 3 F O ODNET NEW FOODNET NEWS S

VOLUME 2 ISSUE 3 F O ODNET NEW FOODNET NEWS S

1 In the period between 1996 deaths 1 000 tartrate 4 44 and Enteritidis 27 0 0 Food Northeastearn NM NY OR TN the U S Department of Agriculture USDA 7 7 SUMMER 2008 VOLUME 2 ISSUE 3 F O ODNET NEW FOODNET NEWS S INSIDE THIS ISSUE Feature article Trends in Incidence of Frequently Identified Non Typhoidal Salmonella Serotypes FoodNet 1996 2006 Not the Conventional

Cover1 January Cover 4 05 12 7 07 12 54 AM Page 1 50TH

Cover1 January Cover 4 05 12 7 07 12 54 AM Page 1 50TH

January 2008 Vol 51 No 1COMMUNICATIONS OF THE ACM Table of Contents January 2008 From the Editor s Desk 24 Introduction 27 A Time to Retrospect and Prospect Calvin C Gotlieb 30 The Battle of the Covers M Stuart Lynn 33 The Battle Behind the Scenes Robert L Ashenhurst 35 D j Vu All Over Again Peter J Denning 41