Prevalence of Provisions of SICA prevails over Companies Act Where a winding up order is passed by court but before final dissolution of company and a reference is made to BIFR under Section 15 of Sick Industrial Companies Act , and then a question will arise that if provisions of Companies Act will prevail or […]
Tag Archives: Valuation under companies act
Charge on pledge of assets Section 172 of the Indian Contracts Act, 1872 defines a pledge as: “The bailment of goods as security for payment of a debt or performance of a promise is called “pledge“.” *(Section 172, Indian Contract Act, 1872). The bailor is referred to as the “pawnor/ pledgor” and the bailee as […]
Corporate Governance Meaning of Corporate Governance: The Institute of Company Secretaries of India Corporate governance is the application of best management practices, compliance of law in true letter and spirit and adherence to ethical standards for effective management and distribution of wealth and discharge of social responsibility for sustainable development of all stakeholders.
Auditor Duties and Reporting under Companies Act 2013 Duty of the Auditor to Inquire :- Amongst other matters, Auditor has to inquire into the following matters, namely:— (a) whether loans and advances made by the company on the basis of security have been properly secured and whether the terms on which they have been made […]
Creation of Charges under Companies Act, 2013 Definition of Charge: ― As per Section-2 (16) Charge means- An interest or lien created on the property or assets of a company or any of its undertakings or both as security and includes a mortgage;Principle rule of Creation of Charge is that “Charge will be creating on the Assets […]