What does the annual report under section 217 of company Act include?

What does the annual report under section 217 of company Act include?

Sec 217 – Board’s report. (a) the state of the company’s affairs ; (b) the amounts, if any, which it proposes to carry to any reserves in such balance sheet ; (c) the amount, if any, which it recommends should be paid by way of dividend ; (c) generally in the classes of business in which the company has an interest.

What is the definition of section 2 17?

Section 2(17) in The Companies Act, 1956. (17) ” financial year” means, in relation to any body corporate, the period in respect of which any profit and loss account of the body corporate laid before it in annual general meeting is made up, whether that period is a year or not: 1.

What is provision of Companies Act?

The Companies Act 2013 is an Act of the Parliament of India which regulates the incorporation, formulation and functioning of companies India. The Act makes comprehensive provisions to govern all the listed and unlisted companies of the country.

What is Section 297 of Companies Act?

Section 297 in The Companies Act, 1956. 297. Board’ s sanction to be required for certain contracts in which particular directors are interested.

What certificate is required to open a public limited company?

A certificate of commencement of business is required before starting the company. A minimum paid capital of Five lakhs is required. Certain documents are required for incorporation of Public Limited Company.

How will you identify that a particular company is a private company or public company?

The public company refers to a company that is listed on a recognized stock exchange and its securities are traded publicly. A private company is one that is not listed on a stock exchange and its securities are held privately by its members.

How a company is described under section 2 17 and what are the various types of company?

Company: As per section 2(17), Company means: any Indian company, or. Any institution, association or body, whether incorporated or not and whether Indian or NonIndian, which is declared by a general or special order of CBDT to be a company.

Which are included in business according to section 2?

As per Section 2(13) of the Income Tax Act, 1961, unless the context otherwise requires, the term ‘business’ includes any trade, commerce or manufacture or any adventure or concern in the nature of trade, commerce or manufacture.

What is Section 184 of Companies Act 2013?

(1) Every director shall at the first meeting of the Board in which he participates as a director and thereafter at the first meeting of the Board in every financial year or whenever there is any change in the disclosures already made, then at the first Board meeting held after such change, disclose his concern or …

What is doctrine of indoor management in company law?

The doctrine of indoor management, also known as Turquand rule is a 150-year old concept, which protects the outsiders against the actions done by the company. Any person who enters into a contract with the company shall ensure that the transaction is authorised by the articles and memorandum of the company.

What is Section 217(2A) of the Companies Act 1956?

Section 217 (2A) in The Companies Act, 1956 (2A) 3 (a) The Board’ s report shall also include a statement showing the name of every employee of the company who- (i) if employed throughout the financial year, was in receipt of remuneration for that year which, in the aggregate, was not less than 4 such sum as may be prescribed]; or

What are the provisions of Section 134(3) of the Companies Act?

1. Section 134 (3) states that Board’s report shall be attached to financial statements laid before the shareholders for adoption. It also mandates that such board’s report shall disclose or deal with the following:- b) number of meetings of the Board.

What is rule 1A of companies (particulars of employees) rules 1975?

In the Companies (Particulars of Employees) Rules, 1975 (hereinafter referred to as the said rules), in rule 1A, – (i) in clause (a), for the words “rupees twenty-four lakhs”, the words “sixty lakh rupees” shall be substituted;