Creation of the corporation takes place as per the legal provisions bestowing it a “separate legal entity” and perceiving it as an “artificial person”. Existence of such an artificial person could only be ended legally. Therefore, winding up refers to legal proceedings of terminating the existence of the company. It puts a full stop to…

The Financial Statement is the important document of the company which is required to be prepare in every financial year and audited by the auditors of the company. The Financial Statement provides an overview of the company’s assets, Liabilities and shareholders’ equity. The Financial Statement is required to prepare so that the shareholders can get…

OPC and Sole Proprietorship, though the names sound similar with words in reality the approach and aspect are different from each other. In OPC allocation of share to run the business is held by single person who runs the company. Whereas in sole proprietorship the business is completely owned and operations are executed by one…

Loans are an important source of funding for the companies apart from Equity. The Companies Act, 1956 permitted the companies to borrow from the directors, shareholders, or the relatives of the directors. With the Amendment of the act, the New Companies Act, 2013 has removed the shareholders, and the relatives of the directors are removed…

World has seen a never seen before situation with COVID-19. The biggest of countries going under lockdown. The pharmaceutical companies and NGO’s are working hand in hand. On one pharmaceutical companies are preparing drugs and vaccines and on the other hand NGOs are working for helping the poor and needy in these times of lockdown….

Various provisions of Merger and Acquisition are provided under The Companies Act, 2013 but no specific definition is provided.  Generally, Merger and Acquisition are two different terms. When two different company of the same size joins together to form a new company is called Merger. On the other hand, In Acquisition one company takeovers the…

DIN i.e. Director’s Identification Number is compulsory for all the directors. It is just like an identity proof of a director. DIN is allotted by a simple procedure i.e. filling forms and submitting with necessary documents and requisite fees on MCA Portal. Today in this article we will discuss that if a person who wishes…

Running a company is no cakewalk, sometimes the founders of the company take tough decisions to close down the company. In the last 3 years, nearly 3.8 lakh companies are struck off under the Companies Act, 2013. Many companies are finding it difficult to function during the pandemic. There are two ways for closing a company,…

In this article, we will discuss about that how a company can be revived through an application to NCLT. The revival situation arises when name is struck off from Registrar of Companies or where a company has been declared sick. It is a well-known fact that Companies Act, 1956 was replaced by Companies Act, 2013….

In 2013, the Companies Act introduced one person company(OPC) where a company can be incorporated by a single person. The Ministry has also laid down guidelines for the conversion of a one-person company into private limited company in the Companies (Incorporation) Second Amendment Rules, 2021. In this article, we look at the definition of one…

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