Profile cover photo
Profile photo
Finmatrix S C
47 followers -
Strategic Consulting Company
Strategic Consulting Company

47 followers
About
Posts

Post has shared content
Founders Cube - Co work - Incubation Center In Bangalore
PhotoPhotoPhoto
19/03/2018
3 Photos - View album
Add a comment...

Post has attachment
Photo
Add a comment...

Post has attachment

Ordinance in force for Speedy Disposal of Commercial Disputes.

The Central Government yesterday passed an ordinance to amend the Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Act, 2015. The ordinance was promulgated with an object to improve India’s Ease of Doing Business Index. With this amendment, the Government is positive to considerably reduce the time taken to settle commercial disputes.

The amendment has broadened the scope of the Act, by reducing the specified value for a Commercial Court to have jurisdiction. The specified value has been reduced from 1 Crore to 3 Lakhs. This will undoubtedly benefit many commercial establishments. The Ordinance has also inserted a new Chapter IIIA after Chapter III. This new chapter is titled as ‘Pre-Institution Mediation and Settlement’. As per the provisions, a suit which is otherwise not an urgent interim relief under the Act, cannot be instituted unless the relief-seeker exhaust the remedy of pre-institution mediation.

The mediation should be completed within a period of 3 months from the date of application by the plaintiff, and this period can be extended further for a period of 2 months with mutual consent of the parties. The plus point here is that the period of mediation shall not be computed for the purpose of limitation. Another addition to the Act by the amendment is the insertion of Appendix I, which is the format of ‘Statement of Truth’ to be filed by the deponent. It also empowers the State Governments to constitute Commercial Courts over territories in where High Courts have ordinary civil jurisdiction, after consulting the concerned High Court. Ease of doing business is an index published by the World Bank. It is an aggregate figure that includes different parameters which define the ease of doing business in a country. It is computed by aggregating the distance to frontier scores of different economies. The distance to frontier score uses the ‘regulatory best practices’ for doing business as the parameter and benchmark economies according to that parameter. Presently India holds the 100th Rank and out of the 17 Cities taken in India, doing business in Ludhiana is the easiest.

Disclaimer:
Courtesy: Taxscan.in



Add a comment...

Post has attachment

Post has attachment
**
BASIC GUIDELINES FOR
THE FORMATION OF CO-OPERATIVES UNDER KARNATAKA SOUHARDA SAHAKRI ACT, 1997 ·       There should be at least ten persons. ·       These persons should be from different families. ·       These persons should be competent to enter into a
c...
Add a comment...

Procedure for Conversion of Private Company into Public Company under Companies Act, 2013

Applicable Sections: Section 14 read with section 18 of the Companies Act, 2013 read with Rule 33 of Companies (Incorporation) Rules, 2014.
Section 18 of the Companies Act, 2013 allows an existing Company to convert itself as a Company of other class by altering its memorandum and articles of association in the manner prescribed in Chapter II of the Companies Act 2013. Section 13 provides for alteration of Memorandum of Association whereas Section 14 provides for alteration of Articles of Association.
Secretarial procedure
1. Calling of Board Meeting
a. Issue notice in accordance with the provisions of section 173(3) of the Companies Act, 2013, for convening a meeting of the Board of Directors.
b. Pass a board resolution to get approval of Directors for conversion of a Private company into a public company by altering the AOA.
c. Fix date, time and place for holding Extra-ordinary General meeting (EGM) to get approval of shareholders, by way of Special Resolution, for conversion of a Private company into a Public company.
d. To approve notice of EGM along with Agenda and Explanatory Statement to be annexed to the notice of General Meeting as per section 102(1) of the Companies Act, 2013.
e. To authorize the Director or Company Secretary to issue Notice of the Extra-ordinary General meeting (EGM) as approved by the board under clause 1(c) mentioned above.
2. Issue of EGM Notice: Issue Notice of the Extra-ordinary General meeting (EGM)
3. Holding of Extra Ordinary General Meeting: Hold the Extra-ordinary General meeting (EGM) on due date and pass the necessary Special Resolution, to get shareholders’ approval for Conversion of Private Company into a Public company along with alteration in articles of association under section 14 for such conversion.
4. File form MGT-14 for filing special resolution passed for conversion of Private Limited in to a public limited with ROC.
Attachments of E-form MGT.14:
i. Notice of EGM along with copy of explanatory statement under section 102;
ii. Certified True copy of Special Resolution;
iii. Altered memorandum of association;
iv. Altered Articles of association
v. Certified True copy of Board Resolution may be attached as an optional attachment.
5. File form INC-27
6. Attachments of E-form INC-27:
i. It is mandatory to attach Minutes of the member’s meeting where approval was given for conversion and altered articles of association.
ii. Altered Articles of Association;
iii. Certified True copy of Board Resolution may be attached as an optional attachment.
iv. Other information if any can be provided as an optional attachment(s)
Add a comment...

Post has attachment
Founders Cube - Co work - Incubation Center In Bangalore
Photo
Add a comment...

Post has attachment
Proprietorship Firm Registration professional assistance.

Finmatrix Strategic Consulting Private Limited. headquartered in Bangalore, India, specializes in Management Consultancy and Cloud Management Services providing high quality, customized and affordable services in Strategic Advising, Finance Integration, Accounting and Financial Reporting, Risk Advisory Services, Tax and Regulatory Services, Restructuring and Re engineering, Valuation Services, Compliance and Other services, Registration Services, Outsourcing. Started in 2011 as a proprietorship firm scaled to a Private Limited Company to provide consultancy and professional service to Clientele spanning across various Industry in Pan India and Globally.
Photo
Add a comment...

Post has attachment
End to end registration services for Startups in Bangalore - Finmatrix Strategic Consulting Pvt Ltd.

Finmatrix Strategic Consulting Private Limited offers end to end registration and compliance services for startups across India. We provide one stop solution for starting a business without any hassle.
Photo
Add a comment...
Wait while more posts are being loaded