Provision Applicable to both private and public companies
The provisions of section 217 are applicable to both private limited and public limited companies. Form and Contents of balance sheet and contents of profit and loss account. Balance sheet and profit and loss account to contain details as per schedule VI to the act section 211 has been …
Corporate governance as applicable to listed companies
Corporate governance is the system by which companies are directed and controlled. The board of directors is responsible for the governance of the company. The legal framework for the registration and running of companies is provided as per the act 1956. For instance the law provides that not less than …
Rights vested in members to give special notice of resolutions
It is a unique provision in section 190 of the companies act 1956, which gives a right to every member to give special notice to the company of his intention to move the resolution at a general meeting. The condition to be met is that the member shall be competent …
Depreciation under companies act and accounting standards
A major change was made in the companies (amendment) act, 1988 by delinking the rates of depreciation under the Income Tax Act, 1961 for the purpose of providing depreciation under the companies act. Prior to the said amendment, section 205 of company registration act 1956 to provide depreciation as follows: …