Company Incorporation and Legal services

Company Incorporation and Legal services We deals in all kinds of companies legal as well as financial services .

We are in providing services from last 2 years with happy customers/clients. # TrademarkRegistration # Company incorporation # LLP Incorporation # Demand Notice # Merger

23/11/2019

Legal Provision relating to Conversion of Private Limited Company into OPC:-
Section 18 of Companies Act, 2013:
(1) A company of any class registered under this Act may convert itself as a company of other class under this Act by alteration of memorandum and articles of the company in accordance with the provisions of this Chapter.
(2) Where the conversion is required to be done under this section, the Registrar shall on an application made by the company, after satisfying himself that the provisions of this Chapter applicable for registration of companies have been complied with, close the former registration of the company and after registering the documents referred to in sub-section (1), issue a certificate of incorporation in the same manner as its first registration.
(3) The registration of a company under this section shall not affect any debts, liabilities, obligations or contracts incurred or entered into, by or on behalf of the company before conversion and such debts, liabilities, obligations and contracts may be enforced in the manner as if such registration had not been done.

Rule 7:

(1) A private company other than a company registered under section 8 of the Act having paid up share capital of rupees 50 lakhs or less or average annual turnover during the relevant period as defined in explanation to rule 8(4) is rupees 2 crore or less may convert itself into OPC by passing a special resolution in the general meeting.

(2) Before passing such resolution, company shall obtain No objection in writing from members and creditors.
(3) Company shall file copy of the special resolution with the Registrar of Companies within thirty days from the date of passing such resolution in Form No. MGT-14.
(4) Company shall file an application in Form No.INC-6 for its conversion into OPC along with fees as provided in in Companies (Registration offices and fees) Rules, 2014, by attaching the following documents:-
(i) Directors of the company shall give a declaration by way of affidavit duly sworn in conforming that all members and creditors of the company have given their consent for conversion, the paid up capital company is rupees 50 lakhs or less or turnover is less than rupees 2 crores as the case may be,
(ii) List of members and list of creditors,
(iii) Latest Audited Balance Sheet on the Profit and Loss Account and
(iv) Copy of No Objection letter of secured creditors.

18/11/2019

Resignation of Directors under Companies act,2013.
Usually Practicing Company Secretary file the resignation without look into the consequences of wrong filing of DIR-12.
Confuse?

I will explain ..
What happen is that the company send PCS a resignation letter of the director who wants to resign without checking as to whether the concerned director actually wants to resign or not. This issue arises in many companies where director never wanted to resign but their forged resignation letter by company made them to resign.So before filing resignation of Director, we always confirm from the concerned Director whether the resignation letter is true and fair. Because penalties under this section is too harsh upto 5 Lakh

Duty of Company in case of Resignation by Director As per section 168 (1):


A director may resign from his office by giving a notice in writing to the company and the Board. The company shall on receipt of such notice;

Take note of the same by passing a board resolution to that effect and
As per Rule 15 of Companies (Appointment and Qualification of Directors) Rules, 2014 the company shall intimate the Registrar through Filing Of Form Dir.12 Within 30 Days From The Effective Date of Resignation on its website, if any.
Company is also required to Place the Fact of Such Resignation in the Report of Directors laid in the immediately following general meeting by the company.

Duty of Resigning Director in case of Resignation:

A director shall also forward a Copy of His Resignation Along With Detailed Reasons for the resignation to the Registrar within 30 (Thirty) days of resignation through filing of Form DIR.11 under his Digital Signature. It means it will be mandatory for all directors to have Digital Signature under Companies Act-2013.

06/11/2019

Why to choose section 8 company.

1) Tax Exemption
Numerous Tax exemptions are provided to Section 8 Companies, specifically to the donors who are contributing to Section 8 Companies, they can claim the Tax exemption against the donation they made to a Section 8 company.

2) No minimum capital requirement
There is no prescribed limit over section 8 companies for the minimum capital requirement unlike other entities such as public limited, but the capital structure can be altered at any stage as the required for the growth of the company.

3) No stamp duty payable
A section 8 Company is exempted for the payment of stamp duty applicable for registration as applicable in case of other structures such as private limited or a public limited company.

4) Separate Legal entity
A Section 8 Company also holds its own identity like other companies structures, and has its own separate legal standing from its member. A Section 8 Company also has a perpetual existence.

5) Credible
A Section 8 Company has more credibility as compared to any other Non-profit organization structure be it a Trust or Society. As it is a licensed by the central government. It has more stringent regulations such as no change in MOA and AOA can be done at any stage or situation in a Section 8 Company. A section 8 company due its strict compliances as regard to functioning has a more reliable image in comparison to other legal structures.

6) No title required
Unlike the names requirements of the private limited or a public limited company, a section 8 company does not require to use a suffix next to its name.

05/11/2019

Registration of Private Company at RS18000 only. No hidden cost

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