Category Archives: Company Law

Case Study: Saloman v. Saloman Company ltd. [1896] UKHL 1, [1897]

INTRODUCTION: In Saloman case a company’s most remarkable characteristic was established i.e. distinct legal existence. A business has a separate and distinct autonomous corporate life from its employees. It can sue its employees as well as foreigners and be sued by them. In its own name, it can have its own property and company. No member or manager… Read More »

Introduction – Company Law

INTRODUCTION The concept of ‘Company’ or ‘Corporation’ in business is not new but was dealt with, in 4th century BC itself during ‘Arthashastra’ days. Its’ shape got revamped over a period of time according to the needs of business dynamics. Company form of business has certain distinct advantages over other forms of businesses like Sole Proprietorship/Partnership etc. It… Read More »

Winding Up

Introduction: ‘Winding up’ of a company is the process of closing or finishing up of a company. Under this process, the company ceases to carry on its business. The management of its affairs is taken out of its director’s hands. Instead, an administrator called liquidator is appointed, who takes control of the company in his hands. He realizes… Read More »

Inspection, Inquiry and Investigation

INTRODUCTION Inspection, Inquiry and Investigation falls as the XIVth Chapter of the Companies Act, 2013. From Section 206 to Section 229, the details of Inspection, Inquiry and Investigations are explained. The Shareholders of a Company have several rights, including those of the right to vote and elect their directors, right to convene board meetings, right to receive dividends… Read More »

Non-Compliance Can Result In Imprisonment – Strictness Of The Government

A country can never be developed until it is free of corruption and the only strategy to control corruption is implementing the laws strictly. As we know that Government of Indian with the help of various Ministries and departments is trying to implement laws strictly. As per the Press Information Bureau dated 5th November 2017 Indian Government has constituted… Read More »

Redemption of Preference Shares by a Company Limited by Shares

Redemption of Preference shares by a Company Limited by Shares Key Considerations: A company may redeem its preference shares only on the terms on which they were issued or as varied after due approval of preference shareholders under section 48 of the Act. The preference shares may be redeemed: At a fixed time or on the happening of… Read More »

Applicability and Exemption under Central Goods and Services Tax Act, 2017

Acts & Rule Central Goods and Services Tax Act, 2017, Integrated Goods and Services Tax Act, 2017 & Central Goods and Services Tax Rules, 2017, Amendment Rules, 2017 and (Second Amendment) Rules, 2017 Applicability It will be applicable to Individuals, HUF, Company, Firm, LLP, AOP, Co-operative society, Society, Trust etc. engaged in the intra-State/inter-State supply of goods or… Read More »