Highlights of amendments under The Companies (Amendment) Bill, 2020

By Team Lawgical Startup

The Lok Sabha on 19th September, 2020 passed a bill to further amend around 48 sections of the Companies Act, 2013 by decriminalizing various non-compoundable offences in case of defaults, but not involving frauds, omitting imprisonment for various offences which were considered procedural and technical in nature. The bill comes at a time when companies are reeling under stress…

Consequences of Non – compliance by Private Limited Company

By Team Lawgical Startup

There are many business models such as proprietorship or LLP or Company, the decision depends on many economic and legal factors. Among all others, Private Limited Company is the most popular form of business, but there are various compliances which are required to be followed, once your company is incorporated like reporting of financial results,…

Benefits of Private Limited Company

By Team Lawgical Startup

Private Limited Company is one of the most popular business structure among startups and business houses. Many entrepreneurs while starting their business journey, struggle through a critical decision of selection of structure of business entity. Not every type of business structure (say partnership firm, sole proprietorship, private limited company, LLP, etc.) are suited for all…

Conversion of Sole Proprietorship into a Private Limited Company

By Team Lawgical Startup

Procedure for Conversion – Conditions for conversion – Key benefits – other important points Usually entrepreneurs start their business ventures in the form of Sole Proprietorship, reason being it is the simplest form which has least maintenance cost. Alongside, the owner has the complete control of the business and the ownership remains in his hands.…

Concept of Deposits under Companies Act, 2013

By Team Lawgical Startup

Relevant provisions – What is the meaning of deposits? – Who can invite deposits? – Conditions to be meet with respect to deposits Companies are runs on three measures, those measures would be customer satisfaction, employee satisfaction, and cash flow. Having continuous cash flows and raising funds for long term projects is the need of…