A Nidhi company is a kind of enterprise in the Indian non-banking finance sector which is acknowledged under section 406 of the Companies Act, 2013. Their basic business is borrowing and lending money between its members. They are also popular as everlasting fund, benefit funds, mutual benefit funds, and mutual benefit corporation. Nidhi Company is …
According to the Companies Act, 2013, every company must hold its Annual General Meeting once in a year wherein the main objective is to acquire the audited accounts and to know the position and progress of the company and also there is no provision regarding holding of Annual General Meetings through Video Conferencing (VC) or …
Introduction History of Company with Charitable purpose The concept of Section 8 companies was introduced in Companies Act 1913 that permitted companies with charitable objects etc. to be registered without the words ‘Limited’ or ‘Private Limited’. The restriction was that the businesses were permitted to use the profits just for the aim that the corporate …
How to Start Project Office in India? The foreign company who wants to execute e project in India and that they will have a presence for limited period of your time . Generally foreign companies engaged in turnkey construction or installation found out a project office in India Foreign entities who are rewarded a contract …
A Private Ltd. Company may be a company which is privately held for little businesses. The responsibility of the members of a Private Ltd. is restricted to the quantity of shares respectively held by them. Shares of Private Ltd. can’t be publically traded. The administration of such a corporation is Ministry of Corporate Affair (MCA). …
Private Limited Companies are those companies which are privately held by the people. They are mostly preferred as a common business organization in India. Shareholders may operate the business themselves, or hire directors to manage the company on their behalf. The main characteristics of a company are as follow: Minimum 2 and maximum of 200 …
The term Director is used for a person who leads or supervises a company. They are the ultimate decision-makers and thus responsible for the operations of the company. The director reports directly to a vice president or the CEO to let them know its progress. Requirement and eligibility Any individual who wants to be a …
Sections (8) of companies act, 2013 is associated with formation of those companies which are formed with the objective of charity (promotion of art, science, commerce, sports, education, research, welfare) without adding the words “limited” or “private limited” to the name of the newly registered business entity. Some of the important points that support formation …
The National Company Law Tribunal (NCLT) is established by the high court to command to deal with the laws concerning Indian companies. The NCLT operates as a quasi-judicial authority under the Companies Act 2013 that handles the structure, regulations and settles issues related to corporate cases. It was organized under Article 245 in the constitution …
Indian economy is one among the fastest-growing economies within the world with GDP growth of around 7 – 8% and a population of over 1 billion as per International Bank for Reconstruction and Development Data (2016). The statistics show that India as of now boasts of a profitable and stable economy and has already entered …