companies act msme
DESCRIPTION
When any business - small or medium or big is set up, there are some basic regulatory requirements which need to be followed irrespective of the type of organization. Entrepreneurs should be aware of some of the basic registrations required, the regulations to be followed and the Acts that govern them. It is important for entrepreneurs to educate themselves and update their knowledge about the latest rules & regulations pertaining to statutory compliances. As a part of our efforts to enable women owned businesses and entrepreneurs with industry relevant knowledge, eMERG organized an half day interactive Awareness program on Statutory Compliance for MSME’s with a focus on Women owned enterprises. This is the presentation frm the workshop.TRANSCRIPT
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Your Legal Team
Corporate and IP Legal Counselors
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Your Legal TeamAbout us…
NovoJuris fast outpaces most well-known legal counselors and is ranked as India’s No. 1, legal counselors in early stage investments and No.3 on all India basis as active legal counselors. Venture Intelligence Reports - January 2014.
Legal counselors specializing in corporate, technology, IP, capital markets, fund formation, private equity
Over the last six years we have worked with over 600 businesses on the continuum from ideation, funding to exits and beyond.
Started by a team that is experienced in business strategy, law and technology.
Specific services and solutions for companies at various growth stages.
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Your Legal Team
Companies Act 2013
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Your Legal TeamSnapshot of CA 2013 Maximum members limit increased from 50 to 200 members.
Commencement of business certificate and requirement of resident director.
One Person Company(OPC) new concept introduced.
Increased compliances and governance on private companies.
Further raising of capital- Private Placement and Rights Issue
Allotment to be compulsorily made within 2 months.
Stricter and higher penalties. Criminal penalties are higher.
Roles, liabilities of Directors defined in the Act for the first time.
Related party transactions require shareholder approval
Loan to directors, even in private companies is almost impossible
Inter-corporate loans also applicable on private companies. Interest free loan can’t be given now, connected to government securities. Requires shareholders approval beyond a limit. Loan to wholly owned subsidiary is exempt.
Resignation of director procedure drawn out first time
Limit on borrowings of a private company- exceeding aggregate of paid capital and free reserves will require shareholders approval
Remit or give time for repayment of any director will also require shareholders approval.
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Your Legal Team
Meet / Call / Mail us …
NovoJuris Services India Pvt. Ltd.839, I floor, 2nd cross, 7th Main, HAL II Stage, Indiranagar,Bangalore. Ph: 080 40924173 / 25270163
www.novojuris.com
@novojuris.com