Oppression is the exercising of authority or power in burdensome or inhuman imposing of burdens one cannot endure or exact more than one can perform. Mismanagement refers to the process or practice of managing poorly, artlessly, or unskillfully. Circumstances that can be regarded as mismanagement: Preventing directors from functioning Violation of statutory provisions Violation of MOA and …
Section 186 of the companies act, 2013 provides for the loans and investments that a company can make. It reveals that a company can make investments through more than two layers of investment companies. For section 186(1), the following will be counted as investments: Subscription or purchase of shares; Subscription or purchase of share warrants; …
Limited liability partnership LLP is an alternative form of company that offers the benefits of limited liability and partnership flexibility. LLP can continue regardless of changes in shareholders. It has business and legal capabilities in its own name. LLP is an independent legal entity, responsible for all of its assets and shareholder liability is limited …
LLP Stands for Limited Liability Partnership means it is an alternative corporate business form that provides the interest of limited liability to the partners at low compliance costs. A limited liability partnership is a legal entity accountable for the full range of its assets. The liability of the partners, however, is limited. Register a unique …
As one of the fastest-growing countries, India has always been an attraction for foreigners and NRIs for investment purposes. On the other hand, the government has also valued the investment made in India, especially with the NRIs. Due to the advantages and immense returns on investments, India has become a favorite destination for NRIs in …
The formation of a company goes through several steps, starting from idea generation to commencing the business. However, the first and foremost thing in setting up a business is the preparation of memorandum and articles of association in the company. A company, being an unnatural person, comes into occurrence only after following a legal procedure. …
Non-governmental organisations, also known as non-profit organisations, are organisations formed for non-profit or selfless purposes; these organisations are basically formed to promote social welfare, social development, and other charitable purposes. In India, such an organisation may begin as a section 8 company, a trust or a society. Keep in mind that these are not the …
The board meeting is a formal meeting of a company’s top executives/Board of Directors, held at definite intervals to take policy decisions and discuss company-wide issues. Board meetings ordinarily bring together the directors of an organisation. In the board meeting, the board reviews the organisation’s past performance, engages in planned considerations, and certifies plans of action …
Authorized capital is the maximal amount of capital that an organization can issue in shares to its shareholders. The initial authorized capital of the company is mentioned in the MOA of the company and is usually one lakh rupees. An organization is not permitted to provide shares beyond the specified limit. Hence, if an organization …
Individuals, HUFs, Companies, Firms, LLPs, Associations of Persons, Body of Individuals, and any other juridical person are all subject to Income Tax regulations dictating the taxes to be assessed on their taxable income. Every person who qualifies as an Indian resident must pay tax on their taxable income. Every fiscal year, tax payers must file …