TOPIC 34: QUICK REFERENCE TO “FAQS RELATED TO COMPANY LAW PART -2”

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Quick Reference to " FAQs related with Company Law  Part -2"
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1. Whether the Notice of General meeting shall be accompanied by the attendance slip and Proxy form ?
∆ Yes. The Notice of General meeting shall be accompanied by the attendance slip and Proxy form with comprehensive instructions of filling, signing & depositing proxy form.
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2. What is the Quorum for members at general meeting of private Company.
∆ 2 members Personally Present.
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3. Whether the Proxy has to prove his identity at the General meeting of the Company for attending the meeting?
∆ Yes. The Proxy - holder has to prove his identity.
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4. Whether the Non- Profit Organization is only Incorporated under section 8 of Companies Act, 2013
∆ No. NPOs can be registered under The Indian Trusts Act, 1882 or The Societies Registration Act, 1860 also.
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5. Can Board meeting is possible to be conduct on national holiday ?
∆ Yes. As per Revised ss-1 . Board meeting can be held at any day.
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6. Whether Preference shareholder can sign requisition for egm ?
∆ Yes. Preference shareholder can sign the requisition for EGM if he has earned voting rights.
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7. Whether Listed Company can issue duplicate share certificate within 60 days ?
∆No. Listed Company has to issue duplicate share certificate within 45 days.
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8. Is it required to pay Stamp duty on transmission of Shares?
∆ No. Stamp duty is required to pay on transfer of Shares & Not on the transmission of Shares.
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9. Can a company issue debentures carrying with Voting rights ?
∆ No. A Company is not allowed to issue debentures carrying with Voting rights as per section 71 (2). Of the Companies Act, 2013.
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10. Can a company give dividend above the amount recommended by Directors?
∆ No. Its totally upto the amount recommended by BOD.
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11. Whether Independent director is entitled for stock option ?
∆ No. Independent director is not entitled for stock option. He is entitled for Sitting fees.
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12. If AOA of the Company does not include / mentioned provision about appointment of first directors then, what is the remedy for Company?
∆ If APA of Company does not include / mentioned provision about appointment of first directors then, All the Subscribers to the memorandum who are individuals are deemed to be directors.
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Regards
ACA SOURAV BAGARIA