The article attempted to list down the objectives and importance of internal audit. It deliberated on the functions associated with internal auditing. The conclusion part is crafted considering the importance of internal audit for an exemplary corporate governance implementation.
Private Limited Companies, as discussed under the Companies Act 2013, along with its features, types of private companies and types of directors and types of securities, will be dealt with in the article.
The article is an insight into the basic terms of stock market and the procedure of purchase of shares in a company, stating the advantages and disadvantages of purchase of share.
The stock market plays a dominant role in shaping the financial market. It serves a greater purpose for a broader economy, propagating a comprehensive financial investments mechanism for people and a heightened capital generation.
The author here discusses the violation of SEBI norms for issuance of Equity shares by Non Banking Financial Companies with the help of a case law.
If it appears that a company has been created solely for tax evasion and to avoid tax liabilities, then the Court must lift the corporate veil to see that the person responsible for such evasion is held accountable as such.
The court in this case reiterated the existence of a third category of companies and thus increased the scope of application of provisions of the Companies Act. The court also did not hold back from ensuring substantial justice even though the case petition failed.
This case talks about the question that whether it is necessary to give prior notice with all particulars attached to it for the meeting to be conducted to the directors of the Company or not?
In this case comment, the author shall be discussing and analysing the Judgement in detail, comparing it to various case laws as well as the future case laws that adopted a similar approach while deciding on similar issues.
The case with its judgment created great significance in the field of winding-up petition field of law. It created a path for both creditors and debtors to move with their petitions and application hand in hand within the same forum. The judgment also created and allowed a wider interpretation the code.
The case discusses the provisions related to issue of Bonus Shares in a company. The issue of such shares must rely upon the provisions mentioned in the Memorandum and Articles of Association of the company. As per the provisions laid down by the Companies Act, a company can issue fully paid-up bonus shares to its members out of Free Reserves, Securities Premium Account or Capital Redemption Reserve Account.
The concept of mistake and misrepresentation cannot be overemphasized in a contractual agreement. Hence, this article seeks to examine the place of Mistake, Misrepresentation in transfer of shares (if any), as well as the principles governing shares transfer and allotment. It also seeks to examine the position of the Law in removing a director.
The case is considerably important in demonstrating the position of directors of the a company in managing the company’s business. The Articles of Association can function as a means to limit the powers of the directors of the a company. However, simple resolutions which are like recommendations cannot be used as a means to force the directors to act in a certain manner.
Simply because they are the directors, does not mean that they are supposed to be held liable for every mistake that they are making in the course of their conduct. This is true even if the directors may have avoided the mistake altogether had they taken slightly more care of their actions.
