Company Law

Promoters of a Company
Blogs, Business, Company Law

Who are the Promoters of a Company

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Promoter is someone who brings about the incorporation and organization of a corporation. He brings together the persons who become interested in the enterprise, aids in procuring subscriptions, and sets in motion the machinery which leads to the formation itself.
Section 2(69) of The Companies Act, 2013 defines the term “promoter” as a person who has been named in the prospectus or is identified by the company in the annual return referred to in section 92, a person who has control over the affairs of the company, directly or indirectly whether as a shareholder, director and a person in accordance with whose advice, directions or instructions the Board of Directors of the company is accustomed to the act.

The Concept of Limited Liability Partnership
Blogs, Company Law

The Concept of Limited Liability Partnership

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In today’s modern world, nobody prefers to entertain a hovering liability over their heads, rather each and every individual prefers to organise a smooth ongoing business with no liability and simultaneous profit extraction. The concept of Limited Liability Partnership (LLP) is based on the same lines. The concept found its origin from US[1]. As it

Blogs, Company Law

Classification of Companies under Companies Act, 2013

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A company is a voluntary association of persons who have come together to conduct business activities and earn a profit. It is an association of persons who have come together for a common purpose or objective. Section 2(20) of the Companies Act, 2013 defines the word “company” as “Company incorporated under this Companies Act, 2013

Blogs, Company Law

Kinds of Meeting and its Procedure

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A company is a legal entity consisting of a group of individuals for operating a business. In order to manage the company, certain radical decisions have to be taken. These decisions are taken in meetings of the company. The Companies Act, 1956 has several provisions regarding meetings. It is important for Companies to comply with

Blogs, Company Law

Role of SEBI in Indian Securities Market

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In our country the primary legislation that was passed to ensure the orderly and healthy growth of the capital market with adequate protection to investors was the Capital Issues (Control) Act, 1947. The controller of Capital Issues was entrusted with the responsibility of regulation of capital related problems within the country under this act. However,

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Position of an Independent Director: Companies Act, 2013

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On 1 March 2021, the Securities and Exchange Board of India (hereinafter referred to as “SEBI”) introduced a consultation paper.[1] The paper suggested amendments to improvise the role and the position of an Independent Director (hereinafter referred to as “IDs”) in corporate governance. It proposed to make changes in the provisions of the Listing Obligation and Disclosure Requirements Regulations with respect to the appointment and re-appointment of IDs, the removal of IDs, nomination, resignation, and remuneration of IDs. These changes, if applied in letter and spirit, will change the future of corporate governance. This paper aims to highlight the position of IDs under current provisions and the changes suggested by the SEBI in order to analyze their effect on the role and functioning of IDs in a company.

Blogs, Company Law

Prevention Of Oppression & Mismanagement under Companies Act,2013

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According to the Black Law Dictionary, “oppression means an act of unjustly exercising power”. Whereas, mismanagement entails the process of managing is incompetent, dishonest or deceptive. It is to be noted that both these terms are not mentioned in the Companies Act, 2013 and it is decided by the varied facts of each case whether

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