CS Sweety Aggarwal

Internal Audit Applicability – Who should appoint an Internal Auditor? As per the provisions of Section 138 of the Companies Act, 2013, with rule 13 of the Companies (Accounts) Rules, 2014, specific organizations or companies have an internal audit applicability under the Companies Act 2013. Below, we have given those companies that must appoint an internal auditor- All Listed Companies: Every company listed […]

Appointment of Company Auditor The appointment of company auditor is mandated under Section 139 of the Companies Act, 2013. According to this section: Every company must appoint an individual or a firm as an auditor at its first Annual General Meeting (AGM). The appointed auditor will hold office from the conclusion of that meeting until […]

STEPS INVOLVED FOR PRIVATE COMPANY FOR PUBLIC COMPANY Step  1 Issue the notice of Board Meeting At least 7 days before the meeting as per section 179-(3) Issue the notice of Board Meeting At least 7 days before the meeting as per  section 179-(3) Step  2 Hold the Board meeting as Per SS 1 pass […]

Section 55 of the Companies Act, 2013 (‘Act’) read with Rule 9 of the Companies (Share Capital and Debentures) Rules, 2014 allows a Company to issue redeemable preference shares. Section 55(1) puts ban on issuance of irredeemable preference shares. Term of Redeemable Preference Shares According to Section 55(2) of the Act, a Company limited by […]

Meaning of DIN or DPIN DIN: Director Identification Number (DIN) is a unique Identification Number allotted to an individual who is appointed as a director of a company, upon making an application in form DIR-3 pursuant to sections 153 & 154 of the Companies Act, 2013. DPIN: Designated Partner Identification Number (DPIN) is a registration […]

Procedure for issuance of Compulsory Convertible Debentures: Step Particulars What needs to be done (indicative) 1 Notice for board meeting Issue notice to convene meeting of board of directors of Company as per prescribed secretarial standard 1. Assuming, there is no restriction in the AOA of Company to hold meeting, such meeting can be convened […]

XBRL and its Applicability under Companies Act, 2013 XBRL is a language for the communication of financial and business data electronically used for business reporting around the world. XBRL means extensible Business Reporting Language. The XBRL filing provides benefits in analysing, preparing, and communicating business information. The Ministry of Corporate Affairs (MCA) introduced XBRL filing […]

Company Authorized Capital Increase Each business needs more funds over time to run business. These funds can be required on a long- and short-term basis. A short-term need can be satisfied by taking loans and advances. But in the long run, the company will require more funds. For a Private Limited Company, this can be […]

Process for Change in Name of LLP Section-19 of LLP Act- 2008, Rule-20 of LLP Rules-2009 The limited liability partnership may change its name by following the procedure as laid down in the limited liability partnership agreement. In case there is no clause in the limited liability partnership agreement relating to change in the name […]

A Guide to Changing the Name of Your Private Limited Company Under the Companies Act, 2013 Prohibited under following circumstances: Rule 29(1): Change of name shall not be allowed to a company which has defaulted in filing its annual returns or Financial Statements or any document due for filing with the Registrar or which has […]