Offer of Securities in Demat Mode

The Offer of securities in demat mode refers to the issuance or sale of securities in electronic or dematerialized form. Dematerialization involves converting physical certificates of securities into electronic form, which can then be held and traded electronically through a depository system. Regulatory authorities in many countries, including India,...

Read More

Variation of Shareholders’ Rights

Share capital in a company limited by shares can be classified in two buckets- equity and preference capital.   Equity shares can be with voting rights or with differential rights with respect to voting, dividend or any other criteria. To know more about differential right shares please refer to...

Read More

Removal of director by shareholder under the companies Act, 2013 (‘the act’)

APPLICABLE PROVISIONS   Section 169 and 115 of the Act   ESTIMATED TIMELINES   30-35 days     TYPE OF MEETINGS   Board meeting and General meeting FORMS TO BE FILED   DIR-12   PENALTY FOR NON-COMPLIANCE Any non-compliance with respect to above provisions shall be punishable with fine...

Read More

Procedure for closure of Not for Profit (Section 8) Company

I. Under Companies Act, 2013 Part A: Convert Section 8 Company to Private or Public Company As per the Companies Act, if a Section 8 company intends to cease its operations, it is mandated to undergo a conversion process to a private or public company before initiating the closure....

Read More

The Limited Liability Partnership (Third Amendment) Rules, 2023 – Effective from October 27, 2023

MCA has introduced a new mandate for all limited liability partnerships (LLPs) outlined briefly as follow: RULE AMENDMENTS TIMELINE TO COMPLY 22A Register of Partner · In Form 4A, register of Partners need to be maintained by LLP at their registered office.   · It must contain details of...

Read More

Significant Amendments Under Companies Act, 2013

Major revamp of Companies Act enhancing accountability of ultimate beneficial interest in shares and significant move towards digitization making the demat of shares mandatory even for private companies. Akansha Rathi and Associates (ARACS), Company Secretary Firm in Navi Mumbai is engaged into compliance related services. We have a team...

Read More

Maintaining Books of Accounts as per Companies Act 2013

Book of Accounts includes: – all sums of money received and expended by the company and explanation of the said transaction; all sales and purchases of goods and services by the company; the assets and liabilities of the company; the items of cost as may be prescribed under section...

Read More

Differential Right Shares Under Companies Act 2013

The share capital of a company shall be of two kinds, namely: — (a) equity share capital— with voting rights; or with differential rights as to dividend, voting or otherwise. (b) preference share capital. While equity shares with voting rights and preference shares are well-known, it’s worth noting that...

Read More

Convertible Note (“CN”)-Additional And Flexible Funding Option For Startups

Convertible Note is an instrument evidencing receipt of money initially as a debt, which is- upon occurrence of specified events and as per the other terms and conditions agreed to and indicated in the instrument.   CONDITIONS TO ISSUE CONVERTIBLE NOTE (“CN”): The company that wants to issue CN...

Read More