Whether borrowings and/or creation of security, based on the basis of
ordinary Resolution under section 293 of the Companies Act, 1956 are valid?
As per section 185 of the Companies Act 2013, no company can give loan or
Guarantee in respect of loan to director or any other person in which such
director is interested. Can a company give corporate guarantee or offer
security in respect of any loan taken by its subsidiary/company in which
director is interested/ where management is common from the Bank?
With regard to resolution requiring special notice under section 115 of the
Companies Act, 2013, who can move such resolution- whether such number of members holding shares on which aggregate sum not exceeding five lakhs has been paid up or such number of members holding shares on which aggregate sum not less than five lakh rupees has been paid up?
As per section 164(2)(a), no person who is or has been a director of a
company which has not filed financial statements or annual returns for any continuous period of three financial years shall be eligible to be re-appointed as a director of that company or appointed in other company for a period of five years from the date on which the said company fails to do so. Under the 1956 Act, such disqualification was with respect to non-filing of annual accounts or annual returns of a public company. In case, all the directors disqualify, how the company would function. Some time period needs to be given to regularize the default.
If a Company has granted stock options prior to the promulgation of the
Companies Act, 2013, then whether such stock options can be exercisable by the Independent Directors?
Whether every company is required to alter its Articles of Association as per the new format under the Companies Act, 2013 ?
Section 2(41) defines the term ‘Financial Year’. Proviso to the said section
empowers Tribunal for allowing any period as financial Year. The provisions
relating to Tribunal are not notified. What is the recourse.
Whether the subsidiary of a foreign company be termed as public company or private company as per the Companies Act, 2013.
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