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 […]
The Article of Association (hereinafter referred to as AoA) is a document of a company, which regulates the internal management, and conduct of the business of a company. It deals with the rights of a member of the company. The AoA is signed by the subscriber of the memorandum and prescribes the regulation of the
The patriarchal outlook that people have is the main reason that women are not seen as equals who climb the ladders of the corporate sector with hard work and determination at par. To tackle this issue, the government brought out a one woman director mandate. Section 149 of the Companies Act, 2013, read along with
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
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
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,
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.
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
Owing to globalization, the world is one big village and corporations are an integral part of it. They have developed at a strong pace as one of the most important organizations in the modern economy[1]. The corporations can be credited with providing everything to us from houses, food, and clothes to healthcare, employment, and insurance.
