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  • Clarifications on appointment of Independent Directors under Companies Act, 2013.

    Clarifications on appointment of Independent Directors under Companies Act, 2013.

    With some open questions left on appointment of independent directors under the new Act, Ministry of Corporate Affairs has issued some clarifications on representations being made to it from various Industry Chambers, Professional Institutes. The clarifications are as follows: Pecuniary

    Sharda Balaji
    By Sharda Balaji over 9 years ago
  • How to choose your legal avatar?

    How to choose your legal avatar?

    With the new Companies Act 2013 introducing One Person Company, we thought of doing a refresh of our earlier comparative chart.   SL. NO. FEATURES ONE PERSON COMPANY (OPC) PRIVATE LIMITED COMPANY LIMITED LIABILITY PARTNERSHIP (LLP) SOLE PROPRIETORY PARTNERSHIP FIRM

    Sharda Balaji
    By Sharda Balaji over 9 years ago
  • External Commercial Borrowings (ECB) Policy Update - May 2014

    External Commercial Borrowings (ECB) Policy Update - May 2014

    External Commercial Borrowings (ECB) Policy: Refinance / Repayment of Rupee loans raised from domestic banking system. Refinancing/repayment of rupee loans raised from domestic banking system has undergone a change. Earlier, eligible Indian companies were permitted to refinance / repay the Rupee

    Sharda Balaji
    By Sharda Balaji over 9 years ago
  • Issue of sweat equity shares for a private company - Companies Act, 2013.

    Issue of sweat equity shares for a private company - Companies Act, 2013.

    Issue of sweat equity shares for a private company used to be regulated by Section 79A and Unlisted Companies (Issue of Sweat Equity Shares) Rules, 2003 under Companies Act, 1956. Now the same is regulated by Section 54 and Chapter

    Sharda Balaji
    By Sharda Balaji over 9 years ago
  • Maintenance of Records, Electronically - Companies Act 2013.

    Maintenance of Records, Electronically - Companies Act 2013.

    Every Company is required to maintain statutory records in the form of registers, minutes etc. throughout its life. Companies under the old Act were maintaining the same in physical form, however Companies Act, 2013 has changed the picture totally for

    Sharda Balaji
    By Sharda Balaji over 9 years ago
  • Issuing of Shares with Differential Rights, Companies Act 2013

    Issuing of Shares with Differential Rights, Companies Act 2013

    Issuing shares with differential rights has become more prescriptive and restrictive  in Companies Act, 2013.New startups may  find it difficult to meet  the precondition of  consistent track record of distributable profits for last 3 years. Voting Rights when there are

    Sharda Balaji
    By Sharda Balaji over 9 years ago
  • Tax advantages available to a software company

    Tax advantages available to a software company

    The Software industry in Karnataka state in India has become one of the main pillars of economy. Karnataka stands first among all the states of India in terms of revenue generated from software exports. If you are planning to set up Software Company,

    Sharda Balaji
    By Sharda Balaji over 9 years ago
  • ESOP Unplugged

    ESOP Unplugged

    [slideshare id=33805419&style=border:1px solid #CCC; border-width:1px 1px 0; margin-bottom:5px; max-width: 100%;&sc=no]   Author - Geetika Chandel, Associate with NovoJuris. Disclaimer:  There are many details that the Act prescribes, please speak with your attorney for advice. This is not a legal opinion

    Sharda Balaji
    By Sharda Balaji over 9 years ago
  • FDI in LLP

    FDI in LLP

    Foreign Director Investment allowed in Limited Liability Partnerships (LLPs), subject to some conditions. Everything that you need to know is listed herein: Who is eligible to invest in LLP? A person resident outside India (PROI) or an entity incorporated outside

    Sharda Balaji
    By Sharda Balaji over 9 years ago
  • Criminal Liabilities of Directors under the Companies Act 2013

    Criminal Liabilities of Directors under the Companies Act 2013

      Companies Act 2013 has increased monetary penalties and imprisonment. The civil and criminal liabilities are not just on directors but includes “Officers in Default”.   There is heightened corporate governance requirements even for  startups and unlisted companies,  even though there

    Sharda Balaji
    By Sharda Balaji over 9 years ago
  • Further issue of shares to existing shareholders -  Rights Issue / Preferential basis

    Further issue of shares to existing shareholders - Rights Issue / Preferential basis

    If the issuance of security is for a select group of people, called Private Placement, please refer to our post here.  If you wish to issue shares to existing equity shareholders, then read on. When a company proposes to increase

    Sharda Balaji
    By Sharda Balaji over 9 years ago
  • Private Placement

    Private Placement

    Issuing shares to a select group of people like friends & family, angels or VC? Brace up, the new Companies Act 2013, provides for lengthy compliance procedures. Unlike before, even a private limited company has to follow the processes for

    Sharda Balaji
    By Sharda Balaji over 9 years ago
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