Company

Summary of Objects – Company Registration in Coimbatore

Objects Clause in English Companies Act, 2006 Under English Companies Act, 2006 a provision as to objects is required to be made in the articles of association. Section 31(1) of English Companies Act, 2006 provides that unless the company’s articles specifically restrict the objects of the company, its objects are unrestricted. Effect of amendment on statement of objects The effect of the Clauses (c) and (d) of section  13(1) of the 1956 Act as amended by the Act 31 of…

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Implementation of Schemes – Company Registration in Coimbatore

Implementation of Schemes through trust A company may implement schemes either directly or by setting up an irrevocable trust. provided that if the scheme is to be implemented through a trust the same has to be decided up front at the time of taking approval of the shareholders for setting up the schemes. Provided further that if the scheme involves secondary acquisition or gift or both, then it is mandatory for the company to implement such scheme(s) through a trust(s).…

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Minimum subscription and Allotment – Company Registration in Coimbatore

Section 69 of Companies Act, 1956 The provisions of sections 69 and 75 of the 1956 Act in this regard and their genesis and minimum interpretation would be valid for interpretation and scope of section 39 of the 2013 Act. Minimum subscription Over  a period of time, the concept of minimum subscription has changed. Originally, it was taken to mean that minimum amount which must be raised for a project or idea to get developed to a minimum level. In…

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Corrections and Amendments – Trademark Registration in Coimbatore

Corrections and amendments: – Trademark Registration in Coimbatore The registrar may think at any time with such terms, whether before or after the acceptance of an application for the trademark registration as per the section 18, which permits the corrections of any error in or having a connection with the application or permit the amendment of an application: Provided that if an amendments or corrections are made to a single application referred to in sub-section(2) of section 18 involving the decision…

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Punishment for fraudulent activities in a company

Punishment for fraud: Not having prejudice to any liability which includes the repayment of any debt under this act or any other law for the time being in force, any person who founds to be guilty of fraud, would be punishable with the imprisonment for a term which should not be less than six months but that may extend to ten years and shall be liable to a fine amount which shall not be less than the amount involved in…

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