Skip to main content


Showing posts from 2017

Preliminaries in company formation

The adman of a company may be an single entrepreneur or a body corporate or a group of them or bodies corporate involved in efforts to bring into being a company. They have the power of defining the unit of the company and deciding various matters for the interval regulation of the company proposed to be incorporated. The various steps which a promoter will have to take for company registration are explained below. Selecting a name – Section 20 Basically a company cannot register itself by a name which, in the idea of the central government is undesirable. Normally it will be not consider to register a company name is already registered. A company is not have the rights to choose their new name which is same or already registered company name.

Confirmation regarding name from the registrar

Pursuant to section 20 of the act read with rule 4A of the companies (central governments) General Rules and Forms, 1956. The promoter of a company under a proposed name or an existing co…

1994 versions of ISO 9001, ISO 9002 and ISO 9003

The 1994 versions of the quality assurance standards ISO 9001, ISO 9002 and ISO 9003 specify three sets of quality system requirements. It can be used for external quality assurance purposes. The requirements in these external quality assurance standards are viewed as minimum good-business practices for a supplying company in any industry. The requirements are stated mainly in terms of what the supplier should accomplish, allowing considerable flexibility about how to implement a system that meets these requirements.
 General Modifications
The structure of ISO 9001 remains unchanged and the clause headings in ISO 9002 and 9003 have been aligned with ISO 9001. These headings are common to all three standards.Where a particular clause is not applicable to ISO 9002 or ISO 9003, this is stated in the standard. For instance, as design control is not covered by ISO 9002 and ISO 9003, both standards state that ” The scope of this international standard does not include quality system…

The structure of the ISO 9000 standards

he ISO 9000 series of standards consists of two broad categories of standards : core standards and supplementary guidance standards. We have to know about the structure of ISO 9000 standards.
Core standards The five core standards are :
ISO 9000-1: 1994. Quality management and quality assurance standards – Part 1 : regulations for selection and use. This standard clarifies principal quality- related concepts and provides guidance for the selection and use of the ISO 9000 family of standards for quality assurance and management. ISO 9001 : 1994, Quality systems -help for quality assurance in development, design, installation, production and servicing. ISO 9002 : 1994 , Quality systems – help for quality assurance in production, servicing and installation. ISO 9004-1 : 1994 Quality management and quality system elements – Part 1 : Guidelines. This standard is meant for internal use by organizations and provides guidance in designing and implementing a quality system. So that ca…

Do you wish to appoint a manager in your company?

1. Convene a board meeting after giving notice! To all the company directors as per section 173 of the 2013 Act. Approve the draft agreement or the conditions and terms on which the manager is declared to be appointed in the general meeting.
2. Beware that every officer of the companyshall be a punishable with fine of Rs. 25,000. This offense is compoundable by the any officer or regional director approved by the central Government.

3. Issue notices in writing of the general meeting at least 21 days. Before the date of the conference on with the applicable informative statement.

4. Comply with the provisions of Sections 184 of the 2013 Act regarding disclosure of interest of directors etc. In case of a public limited companywhich includes a private limited company which are subsidiaries of public limited company. Under the section 184(3) of the 2013 Act read with Rule 15(2) of the Companies (Meetings of Board and its Powers). It also regard abstaining from discussion and v…

Convert private company into a public company

The public company has the following procedures prescribed in the act for convert private limited company for their status. Similarly, a public limited company can convert itself into a private limited company.
. Convert Private Limited Company into Public Limited Company A company which is initially incorporated as a private limited company. The company can change its status into that of public limited company. The public company has the following procedures prescribed in the act for conversion of status. Similarly, a public limited company can convert itself into a private limited company.
Circumstances for conversion of private limited company into public limited company
A private limited company can convert itself into a public limited company in the following circumstances : (a)voluntarily on its own volition (b) by reason of default (c)by operation of law
Conversion of a private limited company into public limited company on own volition

A private limited company can convert its…

Section 8 company converts into any other kind of a company

1.For converting a Section 8 company into any other type of company. Firstly, you will have to seek the approval of shareholders for the conversion.
2.Hold a meeting of the board by complying with the requirements of section 173 of the 2013 act. The provision of sect ion 173 of the 2013 act are applicable to a Section 8 company.Only to the extent that board should hold at least one meeting  in every six months. The provisions of SS-1 is relating to board meetings. It shall not apply to a Section 8 company. Convene an EGM by issuing a notice and comply with the provisions of section 100 of the 2013 act. 3.Draw up the explanatory statement as per section 102(2) of the 2013 act for the special resolution to be passed stating. The reasons for the conversion in detail including the following particulars. (i) Registration date of the company. (ii) Principal objects of the company as set out in the MOA. (iii) The reasons as to why the activities for achieving the objectives of the company…

Do you wish to convert a firm into a Limited Liability Partnership

(1) Note that under Section 55 of the LLP Act, 2008 convert firm into an LLP with the provisions of the Second Schedule of the said Act.
(2) The second schedule of the said act convert firm into an LLP. If the partners of the LLP into which the firm is to be converted to involve the entire partners of the firm.
(3) Decide about the designated partners among the partners of the firm who shall beat least 2 in number.
(4) Make an application in Form No.7 for each designated partners for part of (DPIN)Designated Partner Identification Number with fee of Rs.100/- to the ROC in Chennai. The Limited Liability Partnership ( LLP) will be placed electronically. It is signed by the applicant in digitally.
(5) Follow the provisions of Rule 10 of the LLP rules 2009 and attach the documents specified in sub-rule (2) of the said rule to Form No.7. The LLP rules specified in sub-rule (3) of the said rule.
(6) Select a name for the proposed LLP and ensure that at least 6 choices are given  for avai…

Proprietorship firm into a private company or public company

1.First and foremost, form a new registration company. If the new company registration is to be organized as a public limited company. Ensure that subscribers of the one to the aide-memoire of organization. The subscribers is seven in number. It is the proprietor of the partnership firm in a company.
If the new company registration is being organized as a private limited company. Ensure that one of the contributors to the aide-memoire of organization. The subscribers being not less than two in number. It is the proprietor of the proprietorship firm is to be converted into a new company.
2.Convert your proprietorship firm into a partnership firm and accept. The new company registration as one of the partners of your present proprietorship firm.
3.Serve in the objects clause of the aide-memoire of association of the new company registration. A particular clause which allows the new company to have the business.
4.The liabilities and assets of the proprietorship firm is converted into p…