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?
Section 115 of the Companies Act, 2013 provides for special notice for certain types of resolutions which are to be passed at a general meeting of the company. The purpose of requiring special notice is to ensure that the shareholders are given adequate time to consider the proposed resolution and to make an informed decision.
The types of resolutions that require special notice are specified under Section 115(1) of the Companies Act, 2013, and include the following:
According to Section 115(2) of the Companies Act, 2013, a special notice is required to be given to the company by the shareholders who hold not less than 1% of the total voting power, or who represent not less than 5% of the total voting power of the company.
The special notice should be given at least 14 days before the meeting at which the resolution is to be moved, and it should be given to the company in writing, specifying the intention to move the resolution and the reasons for it.
It is important for companies to follow the provisions of Section 115 of the Companies Act, 2013 to ensure that the rights of shareholders are protected and that the decisions taken at general meetings are in the best interest of the company.