Hello Professionals
Whether show of hands under section 107 is possible in case of companies
which are covered under rule 20 of Companies (Management and
Administration) Rules, 2014 relating to voting through electronic means?
Hello Professionals
Whether borrowings and/or creation of security, based on the basis of
ordinary Resolution under section 293 of the Companies Act, 1956 are valid.
Hello Professionals
A private company is not required to appoint an independent director,
whereas Section 135(1) states that the CSR Committee should have at least
one independent director. Do private companies need to appoint an
independent director to comply with this section?
Hello Professionals
Whether advance taken from customers by real estate company on which no interest has been paid will be treated as advance or deposit as per the
Companies Act, 2013?
Hello Professionals
What Documentary evidence for transfer of shares to be attached while doing Foreign Currency Transfer means do I need to attach a share certificate or share transfer deed?
Hello Professionals
Section 46 read with the Companies (Share Capital and Debentures) Rules, 2014 requires passing of Board Resolution for issuance of share certificates. Under the Companies Act, 1956 such power could be delegated to a Committee of the Board. Companies Act, 2013 is silent on this issue?
Hello Professionals
Whether advance taken from customers by real estate company on which no interest has been paid will be treated as advance or deposit as per the
Companies Act, 2013?
Hello Professionals
Whether show of hands under section 107 is possible in case of companies
which are covered under rule 20 of Companies (Management and Administration) Rules, 2014 relating to voting through electronic means?
An OPC or One Person Company is a type of company structure that is allowed to have only one director. However, as per the Companies Act, 2013, an OPC can have a maximum of 15 directors.
Therefore, the requirement as to the minimum number of directors in an OPC is one, and the maximum number of directors allowed is 15. However, it is important to note that an OPC must have a nominee, who will become the director of the company in the event of the sole director's death or incapacity. The nominee must be named in the Memorandum of Association (MOA) of the OPC.
It is important for OPCs to comply with the regulations and laws under the Companies Act, 2013, and other applicable laws, including maintaining accurate and up-to-date records, holding meetings, and filing annual returns with the Registrar of Companies (ROC). Non-compliance may result in penalties and other consequences under the law.