Fiduciary duties of directors in private limited company

Every private limited company is required to follow the statutory provisions contained in the companies act. The articles of association in relation to increase of capital, issue and allotment of shares and transfer of shares. Here we can see about fiduciary duties of directors in a private limited company. Issue of further shares Although section 81 of the companies act, […]

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What is Limited Liability Partnership (LLP)

The central government introduced the Limited Liability Partnership (LLP) Bill, 2006 in the Rajya Sabha on the 15th December, 2006. The parliamentary standing committee on Finance had examined the bill and made several recommendations and accordingly the government introduced a fresh bill during October 2008 and the bill has been passed by parliament and is assented to by the president […]

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Carrying out new objects whether contained in the memorandum

We have explained in the memorandum of association, the object clause of companies formed on or after 15-10-1965, the date of commencement of amendment act, 1965, shall carrying the objects as : Main objects that the company will pursue immediately on its registration The objects incidental or ancillary to the attainment of the main objects The other objects is not […]

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