What is the exact meaning of "event of inadequacy or absence of profits in any year"? What are criteria for profit to be considered as "inadequate" under section 123 of the Companies Act 2013? '
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inadequate
Dear Members
Can anyone share the reply to made to objection raised under Section 9(1)(a) of Trademark Act
Checklist for the issue of Sweat Equity Shares under Companies Act, 2013
How to prepare for a hearing notice for 12A exemption
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registration
Relaxation from compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 due to the CoVID -19 virus pandemic
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sebi
relaxation
Dear Professional,
As per circular dated 06/03/2020 regarding filing of necessary forms by Insolvency Professional appointed under Insolvency Bankruptcy Code, 2016, Pls confirm that if the status of the Company is under CIRP, thenm do we need to file INC -28 and do execute annual filing.
Pls confirm if anyone has filed the same or not.
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cirp
professional
insolvency
forms
filing
Dear Members,
A public unlisted company wishes to issue debentures on private placement which is within borrowing powers under sec 180(1)(a)of CA Act,2013.
Kindly elaborate me the procedure for the same.
whether valuation report will be required for the same like shares? and other formalities ?
Is Strike Off procedure for OPC under 248(2) same as that of a Private Company. Or are there any specific things that are different?
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I needed 1 clarification under Legal and Metrology Act, about the product description to be mentioned "on the product"
Queries are
1) Maximum retail Price: Rs. 3999.00 or Rs. 3999 – is it possible to keep it with .00
2) "Generic Name": Instead of Generic name can we write it as
"Product: ABC – Sports Shoes".
3) If the product is imported, _ is it required to mention
Dept & Plan : IMPT / 9041X ( which code is this any idea?)
metrology
legal
under
clarification
Why have they considered Financial Creditors in the Committee of Creditors under IBC, 2016?
Why not Operational Creditors?
It is necessary to first understand the meaning of Ordinary resolution.
As per Section 114 (1) of the Companies Act, 2013 - A resolution shall be an ordinary resolution if the notice required under this Act has been duly given and it is required to be passed by the votes cast, whether on a show of hands, or electronically or on a poll, as the case may be, in favour of the resolution, including the casting vote, if any, of the Chairman, by members who, being entitled so to do, vote in person, or where proxies are allowed, by proxy or by postal ballot, exceed the votes, if any, cast against the resolution by members, so entitled and voting.
In simple terms, it means votes in favour shall be more than 50% votes cast against any resolution.
Special resolution is defined under Section 114 (2) of the Companies Act, 2013 ad: (2) A resolution shall be a special resolution when—
(a) the intention to propose the resolution as a special resolution has been duly specified in the notice calling the general meeting or other intimation given to the members of the resolution;
(b) the notice required under this Act has been duly given; and
(c) the votes cast in favour of the resolution, whether on a show of hands, or electronically or on a poll, as the case may be, by members who, being entitled so to do, vote in person or by proxy or by postal ballot, are required to be not less than three times the number of the votes, if any, cast against the resolution by members so entitled and voting.
In simple terms, it means votes in favour shall be more than 75% votes cast against any resolution.
However, it is necessary to note that this distinction of ordinary and special resolution is applicable only in General Meetings, ie.; Annual General Meeting or Extra-ordinary General Meeting and not Board Meetings.
In case of Board Meetings, the words used are simple majority, which means that the votes cast in favour shall exceed the votes cast against a resolution.
In essence, it resembles and equates to ordinary resolution. Since the Act doesn’t use the term ordinary or special resolution for Board Resolutions, we cannot use the ordinary resolution passed at a Board Meeting. We therefore always say that the resolution at the Board Meeting were passed by requisite majority or unanimously (as the case maybe).
The Board resolution can be passed by simple majority.
Hope i am right ?
understanding
basic
resolution
ordinary
Is it profitable to buy stocks of companies which are under NCLT?
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