With the introduction of the Companies Act, 2013 in India, the compliance burden of every Company has increased substantially irrespective of the Company’s nature like Public Limited Company, Private Company, LLP, OPC, etc. To increase transparency in reporting, the SEBI & MCA frequently come out with some new amendments by way of notifications & circulars. Companies must adhere to all the compliances within the specified due dates, any non-compliance often results in heavy penalties. So, it’s a good practice to keep track of the relevant compliances as per the applicable provisions of the Companies Act or SEBI as the case may be. Practically, it is very tough to maintain all the Private Limited Company Compliance, That’s why RegisterKaro is here to help you with all the annual filings of Companies & provide details regarding Company Compliances.
In India, compliance is a vital aspect that has to be taken into account while running a business or a company. It is compulsory to follow all the ROC Compliance to avoid any penalties. All Private Limited Companies in India must maintain annual compliance as per the Companies Act, 2013. Annual Compliance of a Private Limited Company in India is generally independent of the total turnover or the capital amount involved. The ROC compliance for registered Private Limited Companies is compulsory and not being able to follow the Private Limited Company Compliance may result in some serious action on the Company.
What are the Benefits of Private Limited Company Compliance in India?Following are some important benefits of Private Limited Company Compliance in India
DIR-3 an application in e-form mandated by the MCA to be filed by any person who wants to apply for DIN( Director Identification Number). On the successful filing of the application, a DIN number is allotted which is a unique number and will be quoted in filing returns by that director.
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DIN is a unique Identification Number allotted to an individual who is appointed as a director of a company, upon making an application in form DIR-3 pursuant to section 153 & 154 of the Companies Act, 2013.
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The ownership of a Private Limited Company in India is decided by the shareholding of the Company. For inducting new investors or transferring the ownership of the company the shares of the company need to be transferred. The company's interest could be sold to attract new investors or to pass the control of the company.
An important characteristic of the company is that the shares can be transferred. The shares or the debentures are movable property, they are transferable as they are provided by the articles of the company, especially the shares of any members of a public company.
The share transfer is possible only through a contract or arrangement between two or more persons. The provisions of the Companies Act majorly deal with the transfer and the transmission of the securities. The transmission of the securities due to death, succession, inheritance, bankruptcy, etc. The transfer of securities is possible through any contract or arrangement between two or more persons. The provisions of the Companies Act deals with the transfer and the transmission of the securities.
Transmissions of the securities mean the loss of titles on these securities due to death, succession, inheritance, bankruptcy, etc.
What is share transfer?Transfer of shares means handing the rights and possibly the duties of a company member voluntarily. The rights and the duties of the share transfer happen from the shareholder who is wishing to not be a member of the company anymore to a person who is willing to be a member of the company.
Thus the shares in a company are transferable like any other movable property in the absence of the expressed restrictions under the Articles of the Company.
Who is involved in Share transfer?There are certain restrictions over the transfer of the shares of the Private lImited company the following procedure should be followed to transfer the shares:
Then the transferor will transfer the shares by the following process:
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