What is Section 297 of companies Act?
The Tribunal shall adjust the rights of the contributories among themselves and distribute any surplus among the persons entitled thereto.
Which section of the Companies Act, 1956 define share?
Section 4 in The Companies Act, 1956.
Which word is not defined by the Indian Companies Act 1956 but is defined by the Indian Companies Act 2013?
– Companies Act 2013 introduced a new concept which was not there in Companies act 1956 that was “One person company”. – No approval is now required for conversion of the Private company to one person company or vice versa.
What is company Act 1956 explain it in detail?
The Companies Act 1956 was an Act of the Parliament of India, enacted in 1956, which enabled companies to be formed by registration, and set out the responsibilities of companies, their directors and secretaries.
What is Section 184 of Companies Act 2013?
(a) shall be taken to prejudice the operation of any rule of law restricting a director of a company from having any concern or interest in any contract or arrangement with the company; of the paid-up share capital in the other company or the body corporate.
What is Section 188 of Companies Act 2013?
Generally, any person or any entity which is related to the reporting entity is said to be a related party. For example, a person has control, joint control, or significant influence over the entity or is a member of its key management personnel. …
Which sections of companies Act 1956 are still applicable?
Sections of Companies Act 1956 still applicable
- Section 106. You should be login to view data.
- Section 107. You should be login to view data.
- Section 80A. You should be login to view data.
- Section 81. You should be login to view data.
- Section 117B (4) You should be login to view data.
- Section 117C.
- Section 58A.
- Section 167.
What is the major difference between companies Act 1956 and 2013?
In the Act of 1956, sec (23A) stated that listed public companies means a public company which has any of its securities listed in any recognized stock exchange whereas the Act of 2013 states in sec 2 (52) that a listed company means a company which has any of its securities listed on any recognized stock exchange.
What is Section 139 of Companies Act 2013?
As per sub-section (1) of Section 139 of the Companies Act, 2013 (Act), “every company shall at the first annual general meeting, appoint an individual or a firm as an auditor who shall hold office from the conclusion of that meeting till the conclusion of its sixth annual general meeting and thereafter till the …
What is Section 185 of Companies Act?
The original Section 185 prohibited the companies from advancing any loan and/or giving any security or guarantee in relation to the loan taken by the Directors of the company or any other person in whom the Director is interested.
Does Section 299 of the Companies Act 1956 apply to companies?
Section 299 does not apply to companies incorporated under Section 25 of the Companies Act, 1956, in respect of the cases to which sub-sections (1) and (3) of the Section 297 applies. Section 299 applies to any contract or arrangement to which a company is party and in which a director is interested.
Is Section 297 of the Companies Act applicable to private companies?
Section 297 is applicable to all companies whether public or private. 2. Scope of section 297 Section 297 of the Act embodies the principles of good faith and fiduciary relationship of a director and enjoins upon him certain statutory obligations.
What is the difference between Section 299 and Section 297?
Section 299 applies to any contract or arrangement to which a company is party and in which a director is interested. This Section is wider in scope than Section 297, which refers to certain direct contracts only. Thus, the contracts falling within the purview of Section 297 necessarily attract Section 299, although the converse may not be true.
What is form 24aa of Companies Act?
The Notice in Form No. 24AA as prescribed under Companies (Central Government’s) General Rules & Forms, 1956, is also required to be given afresh year after year, so that new directors who may be coming into the Board may be aware of the interest of that particular director.