If you are a director or a promoter of a company registered in India, you must have heard about the Director’s report. In this article, we shall discuss the meaning, legal requirements, contents and format of a valid Director’s report. MEANING OF A DIRECTORS’ REPORT: Directors’ report is a document which includes the details about […]
There are various laws and regulations applicable on any company registered in India. Reporting has to be done on monthly, quarterly, half yearly and yearly basis to various regulators and government departments. A company is primarily governed by the Companies Act, 2013 and rules made thereunder. The companies whose shares are listed on a recognized […]
Funds are the lifeline for any business. No business can be started, grown and expanded without funds. There are two sources of funding for any business i. e Owner’s funds (Equity/Equity Capital) and Borrowed funds (Debt/ Loan). Since the owner’s funds are limited, borrowed funds are required to start and grow a business. If you […]
Income Tax Return is a document an individual is required to file with the Income Tax Department on a yearly basis. However, it is not mandatory for everyone to file the Return. If your income in the previous year is above the basic exemption limit of INR 2,50,000 (Rupees Two Lakh Fifty Thousand only), then […]
XBRL stands for eXtensible Business Reporting Language. The Companies Act, 2013 has made it compulsory for certain companies to file their financials and documents in XBRL format with the Registrar of Companies (ROC). These companies are required to file their financial statements in e- form AOC – 4 (XBRL) with the ROC. As per the […]
DOT LICENSE: Every person who wants to provide Application Services through telephone or over the internet to their clients is required to obtain a license from the Department of Telecommunication, Ministry of Telecommunication, India. Without obtaining the license, a person cannot legally carry out the business activities thorough tele-calling or over the internet. As per […]
Memorandum of Association (MOA) is the charter document of a company, or we can say a document which governs a company. A company is authorised to do only those activities which are mentioned in the MOA of the company. This document, however, can be amended at any time. In order to amend the MOA, a set […]
What is Non-Performing Asset or NPA? Non-Performing Assets or NPA, as the name suggests, assets which are not performing. Loans given by the banks are assets for the banks. If the borrower who has taken a loan from a bank does not repay the principal amount and interest within the agreed time, then such loan […]
What is meant by Removal of Director? Removal of Director means terminating the tenure of a Director before the expiry of his term in the office. A Director can be removed from his position by a company. The process of removing an individual acting as the Director of the company is known as Removal of […]
What is Casual Vacancy in the office of Auditor(s)? The terms ‘Casual Vacancy’ has not been defined in the Companies Act, 2013 and rule made thereunder. In general term, a Casual Vacancy in the office of an auditor means a vacancy caused in the office of an auditor by his death, disqualification, resignation etc. It […]