TOPIC 60: QUICK REFERENCE TO “FEW COMMON & BASIC THINGS RELATED TO A COMPANY LAW/ANSWER TO THE COMMON QUESTION ( MIXED): PART 2”

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1. The Annual Return Form in FC-4 should be filed within 60 days from end of F.Y. by foreign Company.
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2. Payment of ₹ 1 lakh Deposit for Right of persons other than retiring directors to stand for directorship is not applicable for Private Company.
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3. SPICe mode of Incorporation is not applicable for Producer Company.
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4. The Unlimited Company is not eligible for Conversion into limited Company by guarantee or shares if networth is negative.
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5. Entrenchment provision in AOA means making alteration in AOA more difficult to protect the minority.
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6. Voluntary Conversion of OPC to pvt co or pub co. Does not require Form INC-5.
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7. Form NCLT-1 is required to file for Application to cancel variation of rights under section 48 (2) of Companies Act, 2017.
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8. No business cannot be transacted for which notice was not provided.
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9. Unintentional omission of notice to auditors does not invalidate the general meeting.
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10. Adjournment of Meeting is different from Postponement of Meeting.
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11. E-Voting facility is not mandatory for Company whose Debenture or Preference shares are only listed.
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12. Company cannot issue Irredeemable Preference Shares.
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13. Form PAS-4 and PAS-5 is not applicable for Rights issue of shares.
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14. Ordinary Resolution is Sufficient for Issue of Further Shares under Employee Stock options in case of Private Company.
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15. A Call can be made by liquidator in case of Winding up of the Company.
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16. Lien on shares does not leaf to reduction of Capital.
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17. NCLT confirmation is not required for alteration of capital under section 61 of Companies Act, 2013.
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18. Debenture Certificate should be issued within 6 months from allotment of Debentures.
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19. Employee or Officer of the Company cannot become statutory auditor of that Company.
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20. A Mortgage can only created by Act of Parties and not by operation of law.
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21. The Indemnity Bond is mandatory attachment for striking off the Company by its own motion in form STK-2.
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22. DRR is not mandatory to create for Banking Companies.
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23. Loan taken from Public financial institutions is not considerd as Deposit.
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24. The Provisions of Filling of Casual vacancy for a directors is not applicable for Private Company.
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25. The Managing Director can continue as a manager even though he ceases to be a director.
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Regards
ACA SOURAV BAGARIA