Posts

RESTORATION/REVIVAL OF NAME OF COMPANY STRIKED OFF UNDER SECTION 248 OF THE COMPANIES ACT, 2013

RESTORATION/REVIVAL OF THE NAME OF THE COMPANY

There were a lot of companies who did not file their financial statements and Annual Return for many years and in some cases since its incorporation. And for Registrar of Companies, this is reasonable cause to believe that those companies are inactive.
As per Section 248(1) of the Companies Act, 2013, If Registrar has reasonable cause to believe that: 1.A company has failed to commence its business within one year of its incorporation, or 2.A company is not carrying on any business or operation for a period of 2 immediately preceding financial years,
Shall send the notice to the company and its directors for striking off the name of the company from register of companies and requesting them to send representation along with the relevant documents within a period of 30 days from the date of notice.
If no such representation is received or after expiry of the period of 30 days, ROC shall strike off the name of company from the register of co…

Power of Tribunal to call Annual General Meeting (AGM)

POWER OF TRIBUNAL TO CALL AGM

In my previous article “Extension of Annual General Meeting” (you can view the same on my blog atcsvishalsharma.blogspot.in), I have explained the procedure for extension of AGM. But sometimes Company makes default in holding AGM, in that case a member of the company can make an application to the Tribunal to call AGM.
As per section 97 of the Companies Act, 2013, if any default is made in holding AGM of the company, the tribunal may, on the application of any member of the company, call or direct the calling of an AGM of the company and give such other directions as the tribunal thinks fit and such directions may include a direction that one member of the company present in person or by proxy shall be deemed to constitute a meeting.
An application to the Tribunal for calling or obtaining a direction to call the AGM of the company shall be made by any member of the company in Form NCLT-1.
A copy of an application shall be served on the Registrar of Companies …

Note on Change in Financial Year

NOTE ON FINANCIAL YEAR AND HOW TO CHANGE IT {Section 2(41) of the Companies Act, 2013} Effective from 1st April, 2014

DEFINITION 1.Section 2 (11) of Companies Act, 2013, “Body Corporate" or "Corporation" includes a company incorporated outside India, but does not include— i.a co-operative society registered under any law relating to co-operative societies; and ii.any other body corporate (not being a company as defined in this Act), which the Central Government may, by notification, specify in this behalf; 2.Section 2 (20) of Companies Act, 2013, "Company" means a company incorporated under this Act or under any previous company law. 3.Section 2 (41) of Companies Act, 2013, Financial year, in relation to any company or body corporate, means the period ending on the 31st day of March every year, and where it has been incorporated on or after the 1st day of January of a year, the period ending on the 31st day of March of the following year, in respect whereof financial…

Shifting of Registered Office Address

SHIFTING OF REGISTERED OFFICE {Section 12 and 13 of the Companies Act, 2013 and Rule 25, 26, 27, 28, 30 & 31 of Companies (Incorporation) rules, 2014}
{Power of Central Government under section 13 of the Companies Act, 2013 delegated to the Regional Director vides notification dated 19th December, 2016}
INTRODUCTION Every Company is required to have an office for its business at the time of incorporation of the Company for receiving and acknowledging all communication & notices as may be addressed to it that is called ‘Registered Office’.
But if a company does not have registered office address at the time of incorporation then within 15 days of its incorporation the company shall have to arrange its office as registered office and for the same, the company shall furnish to the Registrar verification of its registered office within a period of 30 days of its incorporation in e-form INC-22 along with the fees and with the following attachments: 1.the registered document of the titl…