Introduction to companies act 2013

answered on 21-May-20 14:10

Explian the topic of entrenchment provision in AOA

latest answer

An Entrenchment clause of a basic law or constitution is a provision which makes certain amendments either more difficult or impossible. Entrenchment of provisions of Articles of Association is covered under sub section (3),(4) and (5) of Section 5 of the Companies Act, 2013 read with Rule 10 of the Companies (Incorporation) Rules, 2014, which is new provision introduced under the act and the same are summarised as follows: Article of Association contains provisions for entrenchment for giving an effect that the specified provisions of AOA may be altered only if conditions or procedures as are more restrictive are met or complied with. Provisions shall only be made either at the time of incorporation of a company, or at the time of amending AOA In case of â??New Companyâ?? i. For PART I Company (i.e. Company authorized to register under this Act under Section 366) and Company with more than Seven Subscribers specify entrenched articles in Form NO. INC 7 during Incorporation. ii. All other companies specify entrenched articles in Form INC 32 (Spice )or INC 2 or INC 7 as the case may be during incorporation In case of â??Existing Companyâ?? i. â??Private Companyâ?? AOA provisions shall be entrenched by all the members of Company, by passing Board Resolution. ii. In case of â??Public Company:, AOA provisions shall be entrenched by all the members of Company, by passing Special Resolution. Rule 10 of the Companies (Incorporation) Rules, 2014: In case of existing company, e-form MGT-14 shall be filed with Registrar within 30 days along with: i. Resolution agreed by all the members/ Special resolution ii. Notice & explanatory statement. iii. Copy of altered AOA.

MARISETTI DURGA

CA Inter

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Banking companies

answered on 19-May-20 11:29

Sir whether we have to solve problems like preparation of balance sheet sums also r else upto p&l alone it's enough Ian thoroughly done upto p&l part

latest answer

Preparation of balance sheet is not tested.

nive krish

CA Inter

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366

GST RTP AMENDMENTS

answered on 18-May-20 17:58

Are GST RTP amendments of May 2020 attempt covered in GST Pdf file?

latest answer

Yes. Notes are updated.

J J

CA Final

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412

Technical prob.

answered on 18-May-20 12:18

Sir I can't download or see the attachment posted in forums.what should I do to solve this. I cleared cache and storage memory of 1 fin app and restarted again but still the prob.remain.

latest answer

Yes, it works

Pranav Connecting...

CA Inter

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Asking question

answered on 18-May-20 09:22

Sir since i hve purchased before it is valid till july 3rd week rgt ?

latest answer

Ok sir thank you

raghavendra hari rao

CA Foundation

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365

Premium payable on Buyback

answered on 18-May-20 08:54

Why premium on buyback adjusted against securities premium but not with free reserves ? Why securities premium not considered as free reserve?

latest answer

Free reserves are reserves which are available for distribution as dividends. Securities premium cannot be paid as dividends and hence not a free reserves. The premium on buy back is first set off against securities premium as securities premium has limited use. If SP balance is not sufficient, P&L is used.

Ramya kudupudi

CA Inter

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Query

answered on 18-May-20 07:06

Why r there only few topics in ca final ?? Are they not updated?

latest answer

We shall commence recording for CA final once the lockdown ends. We intend to launch a couple of subjects in 2020 and more in 2021. Whatever topics are currently available on our portal for CA Final are updated

Reetikaa R

CA Inter

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Query

answered on 19-May-20 11:30

Which books shall I buy for foundation? Institute material OR icai material .

latest answer

You can refer to our notes available on our app.

Reetikaa R

CA Inter

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401

Introduction

answered on 18-May-20 12:46

The revenue of inter state sale doesn't accrue to the exporting state and the exporting state transfers to the center the credit of SGST or UTGST used in payment of IGST pls explain this in easiest way

latest answer

Tq

MARISETTI DURGA

CA Inter

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Can you provide a complete syallbus for CMA inter course, as of now u lift with some topics

answered on 18-May-20 08:15

Provide a full syallbus for CMA inter for December 2020

latest answer

Thank you sir

vamshi krishna

CMA Inter

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