Archive | Law

The rights of the ‘secretary in relation to the company depend primarily on his contract with the company. Speaking generally, a company secretary enjoys the following rights…

Sample specimen speech for the chairman of a company. I have pleasure in welcoming you to the company’s 20th Annual General Meeting. The Directors’ report and audited accounts for the year have been in your hands for some time already….

Where one company controls the management of another company the former is called the ‘Holding Company’ and the latter over which the control is exercised is termed as a ‘Subsidiary Company’…

A foreign company means a company incorporated outside India but having a place of business in India [Sec. 591 (1)]. Within 30 days of the establishment of the business in India, a foreign company…

Exemptions and privileges enjoyed by all private companies (includ­ing ‘subsidiary of a public company’ and ‘deemed to become public company’) are as follows…

Incorporation of a company is the second stage of the company for­mation. It is effected by registration with the Registrar of Companies. After completing the promotional work and before getting the…

The “promotion” is the first stage in the formation of a company. Promotion may be defined as “the discovery of business opportunities and the subsequent organisation of funds, property and…

The company secretary plays a very important role in the Promo­tion and Incorporation of a company. He acts as the adviser to the promoters and helps them in preparatory work to be performed and…

Section 13 sets out the contents of the Memorandum. The docu­ment must contain the following clauses: (I) the name clause, (2) the registered office clause, (3) the objects clause, (4) the liability…

A share warrant is a document in which it is stated that the bearer of the warrant is entitled to the shares specified therein. A definition may, thus, be given as follows…

Section 2(36) defines the term ‘Prospectus’ in these words: “a prospectus means any prospectus, notice circular, advertisement or other document inviting deposits from the public or inviting offers…

In case the original share warrant is defaced, mutilated or torn, a duplicate share warrant may be obtained, on surrendering the original one for cancellation to the company, just like in the case of…

Two conditions must be fulfilled before a person can be declared insolvent by a competent court. The first condition is that he must be a debtor and he must have inadequate assets for repayment in…

Section 274 states that a person shall not be capable of being appointed director of a company, if he has been adjudged to be of unsound mind…

All persons who are competent to contract may, in general, become members of a company. There are, however, some special considera­tions to which reference must be made…

The duties of the secretary relating to the statutory meeting are discussed in 3 phases i.e. before the meeting, at the meeting and after the meeting…