Section Analysis

Section 320: Distribution of Property of a Company

This article discusses about section 320 of the companies act, 2013 which states the procedure for voluntary liquidation of a company which has been omitted. It also focuses on the application of the same under the insolvency and bankruptcy code, 2016 along with important judgements.

Section 30: Advertisement of Prospectus

This article briefly describes the meaning of prospectus which is basically a document inviting deposits from the public or a document-inviting offer from the public for the subscription of shares or debentures of the company. It also includes provision for allotment of securities and lay down methods and procedures used by companies to raise money.

Section 40: Securities to Be Dealt with in Stock Exchange

The article focuses on section 40 of the companies act, 2013 which enumerates certain conditions that must be complied with, when a company is raising money, through public issue. Also, it is very important that the company must obtain permission from the stock exchange before making a public offer of the shares/ debentures. It also discusses about the important judicial pronouncements related to the same section.

Section 32: Red Herring Prospectus

This article mainly focuses on the explanation and understanding of section 32 of the companies act, 2013. This will give in depth understanding of the concept and obligations with respect to issue of a red herring prospectus, which is one of the types of prospectus, by a company proposing to make an offer of securities. It also focuses on the importance of this prospectus from the perception of an investor.

Section 56: Transfer and Transmission of Securities

This article discusses regarding the transfer and transmission of shares and debentures in public as well as private companies according to the provision of section 56 of the companies act, 2013. It also explains the scope and applicability of SEBI regulations 2015 on the transfer and transmission.

Section 61: Power of Limited Company to Alter its Share Capital

This article explains the concept of section 61 of the companies act, 2013 in detail which is regarding the power of a limited company to alter its share capital. Its also focuses on the role of National Company Law Tribunal regarding the application of the same to provide speedy disposal of matters.

Section 63: Issue of Bonus Shares

This article mainly focuses on the provision related to issue of bonus shares by a company under section 63 of the companies act, 2013 which is read with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and further explained with landmark judgements.