TOPIC 62: QUICK REFERENCE TO “FEW COMMON & BASIC THINGS RELATED TO A COMPANY LAW/ANSWER TO THE COMMON QUESTION ( MIXED): PART 4”

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1. Section 8 Company can be amalgamate Only with another Section 8 Company having Same/Similar Objects.
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2. Anybody (individual or llp or firm or Company) accepting Public Deposit of ₹ 1 Crore or more has to be mandatorily registered with RBI as well as SEBI as a NBFC.
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3. No Person Can file case on the Void Contracts. Normally Injunction is Available.
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4. The Issue & Listing of Non- Convertible debt securities are governed by SEBI ( Issue & Listing of Debt Securities ) Regulations, 2008.
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5. Sovereign Bonds are issued by RBI.
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6. Approval of Prospectus cannot be dealt in a meeting through Video- Conferencing.
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7. If the Amount of Fine is upto ₹ 5 lakh then Compounding can be done by Regional Director and if its more than that, then it's Compounded by NCLT.
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8. Class - Action suit is filed at NCLT & not at High Court.
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9. The Working hours of NCLT is from 9:30 AM to 6 PM ( Except sat, sun, national holiday). As per Rule 10 of NCLT rules, 2016.
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10. The Minor cannot become Member or Nominee of OPC.
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11. Form MGT-14 is not required to filed for Shifting of Registered Office from One Place to Another Place within Same city or village.
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12. Form MR-1 is not required to filed for Appointment of CEO, CS & CFO .
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13. Two AGM can be held on same day.
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14. Section 62 i.e. Further issue of Share Capital is not applicable to Nidhi Company.
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15. The Redemption of Redeemable Preference Shares does not require NCLT Confirmation.
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16. Diminution of Share Capital means Cancellation of Unsubscribed part of Issued Capital.
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17. The Company cannot issue Prospectus to more than 500 persons without Appointment of Debenture Trustee.
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Regards
ACA SOURAV BAGARIA