Solubilis Corporate Services

Introduction about OPC An One Person Company (OPC) is ideal for an individual who runs a business by himself,wants to have effective control over all functions of the business and work in a corporate framework. Any entrepreneur who requires to forming the company with limited liability should register for OPC. An OPC can be eligible or registration minimum capital of […]

Companies Act, 1956: Section 169 Section 169 of the 1956 Act empowered the members to requisition the Board to call for an extraordinary general meeting. This section prescribed the minimum number of members in a company with share capital (members having not less than 10% of the paid up share capital carrying voting rights) as well a company without share […]

Companies Act, 1956: Section 60B Section 60B of the 1956 Act was essentially a provision relating to issuance of a red- herring prospectus which could be circulated to the public without containing particulars of pricing and the quantum of securities being offered to the public, to enable negotiation of the proposed eventual public offer of securities. Section 60B was inserted […]

Company Secretary’s powers and duties Duties are largely ministerial or administrative. Secretary’s duties are largely of ministerial or administrative nature. He has no power to negotiate contracts nor borrow moneys or make policy decisions, nor, in the absence of special authorization, acknowledge a debt or other liability. The Supreme Court observed: Ordinarily the functions of the secretary of the corporation […]

Section 3 of the 2013 Act corresponds to section 12 of the 1956 Act. While section 3 of the 2013 Act provides for formation of a private company and public company as was also provided in the 1956 Act, it additionally now also enables formation of a new entity ‘one person company’ (OPC). The J.J. Irani Committee, the expert committee […]

One person Company One person company, is a company which has only one person as a member; Companies Act, 2013: Section 2(62) Section 2(62) of the 2013 Act was notified vide SO 902(E) and has been in effect from 01-04-2014. One person company is a new concept introduced for the first time, in India, in the 2013 Act. As per […]

Companies Act, 2013: Section 2(87) Section 2(87) of the 2013 Act was notified vide SO 2754(E) and has been in effect from 12-09-2013. To note that the proviso to s. 2(87)(ii) has not been notified at the time of going to press.Section 2087) corresponds to s. 4 of the 1956 Act with substantial changes. Section 129(3) of the 2013 Act […]