A Food Safety and Standards Authority of India (FSSAI) certificate has thus the sole most significant license necessary for doing food business operatives in India. All the eligible food operators, such as manufacturers, transporters, distributors, retailers, etc., are also required to have a Food Safety and Standards Authority of India (FSSAI) license before the commencement of the …
Strike off company means removing a company’s name from the firm’s register maintained by the registrar (herein, after referred to as registrar). The registrar may issue a notice for a strike-off of companies, or the company can apply to the registrar for a strike off. The provisions for the strike-off of the company are dealt …
In today’s world, mostly all the corporates irrespective of size, require capital to expand, diversify and grow their business. Every year many companies come into existence which tries to bring new product & Services in the market. All the companies require funds for expansion and to meet their working capital requirements. These funds can be …
What is a foreign subsidiary company? A subsidiary company is a company in which more than 51% of the equity shares are owned by a foreign company incorporated outside India; such a company is known as a holding company. The rules and regulations are framed by: Companies Act, 2013 Income Tax Act, 1961 FEMA, 1999 …
The term entrenchment has not been explained in the Companies Act, 2013. The meaning is as follows: To apply additional legal safeguards; To place (someone or something) in a firm position that cannot easily be changed; Basic law or constitution is a provision that makes definite amendments either more difficult or impossible. Therefore, ‘entrenchment’ means …
What is a company? The company cites that voluntary association of persons which is established to achieve common goals. It is a separate legal entity, i.e. one should not bewilder the company and its members as both are different personalities in the eyes of the law. Moreover, it is characterized by perpetual succession, common seal, …
Changing the name clause of the company involves alteration of the memorandum of association of the company. Under section 13 of the Companies Act 2013, the amendment process in the memorandum of association is applicable to all companies. Therefore, all clauses of the memorandum can be altered except the capital clause. After the incorporation, the company …
A limited liability partnership (LLP) is a corporate business form blending attributes of both company and traditional partnership firms. It offers the benefits of limited liability to the partners. The concept of LLP was emerged and took place in statutes in 2008 while the idea of a private company is much older. LLPs offer several …
Companies in the corporate world must comply with various requirements laid down by the Companies Act, 2013. One of them includes annual Roc filling, which includes filling of MGT-7 & AOC-4, which must be filed annually; these are called annual filling regarding the Companies Act, which the company has to do at the end of …
MCA has revised Schedule III of Companies Act 2013 to increase strictness in compliances and add several additional disclosures in Financial Statement. The main purpose behind these amendments is more clarity. Financial statement of the company The Ministry of Corporate Affairs (MCA) vides notification dated 24 Mar 2021 has revised Schedule III to the Companies …