Provisions Applicable for Foreign Company

If any person or group of persons, who trade or carry on business in any manner under any title or description or name as a foreign company registered under the Act or the rules made there under, that person or each of those group of persons shall, shall be liable for investigation under section 210 of the Act and action consequent upon that investigation shall be taken against that person.

• The punishment has been increased, wherein a foreign company fails to comply with the provision of section 387, Section 388, Section 389 and Section 390 of the new Act. Under the old Act, such companies were punishable with imprisonment for a term up to 6 months or with fine up to fifty thousand rupees or with both.  Also, punishment for default in case a foreign company fails to comply with any other provisions applicable on foreign companies in respect of document to be delivered to Registrar after commencement of business in India, return to be delivered to the Registrar where documents are altered, accounts of foreign company and every officer of the company in default was punishable with fine which may extend to ten thousand and in case of a continuing offense, with an additional fine of one thousand rupees for every day during which the default continues.

However under the New Act, a general penalty is prescribed for default of any of the provision of this chapter. Now, the company in default shall be punishable with fine which shall not be less than one lakh rupees but which may extend to three lakh rupees and in the case of a continuing offense, with an additional fine which may extend to fifty thousand rupees for every day during which the default continues and every officer who is in default shall be punishable with imprisonment for a term which may extend to six months or with fine that shall not be less than 25000 rupees but which may extend to extend to 1 lakh rupees, or with both.

Due Diligence Financial Services provides services to bank in the field of Due Diligence Report for their customer before sanctioning loan about their physical existence, goodwill and market coverage. And services includes Company registration in Delhi Gurgaon Noida which includes Section 8 company registration or OPC Registration or LLP formation or annual filing of private limited company or annual filing of public limited company as well as LLP in Delhi Noida Gurgaon.

Liquidator Appointment Under Section 310 of A Company

1. The company liquidator had to be appointed from the panel prepared by the central government.
2. Now on appointment as Company Liquidator, such liquidator has to file a declaration in the prescribed from within 7 days of the date of appointment disclosing conflict of interest or lack of independence in respect of his appointment, if any, with the company and the creditors and such obligation shall continue throughout the term of his or its appointment.
3. Now only one company liquidator shall be appointed as opposed to the Companies Act, 1956 where more than one can be appointed.
4. The creditor shall in both the cases where they approve the liquidator appointed by the members or while appointing their own liquidator shall fix remuneration.
5. The power given to director or member to file an application before the Tribunal that liquidator appointment by creditor should be appointed or some person to be appointed as liquidator has been dispensed with.
6. The company in its AGM meeting shall fix the remuneration if any, to be paid to the liquidator or liquidators.
7. The provision that any remuneration so fixed shall not be increased in any circumstances whatever, whether with or without the sanction of the Tribunal has been dispensed with.
8. The provision that till the time the remuneration of the liquidator or liquidators is not fixed he shall not take change of his office has been dispensed with.
9. The provision doesn’t specifies what will be the course of action if creditor neither appoints their own liquidator nor approve the liquidator appointed by the member.

Besides company liquidation Due Diligence Financial Services provides Company registration in Delhi NCR including Gurgaon Ghaziabad Noida Uttar Pradesh Bihar Patna Deoghar Dhanbad Ranchi Jharkhand etc. We provides Company consultancy services in terms of Book Keeping VAT Services ITR Filing Services Import Export services Fixed Assets Tagging Services XBRL consultancy services including Company registration Consultant in Delhi NCR includes Deoghar Bihar Jharkhand Ranchi Gurgaon Ghaziabad Uttar Pradesh Noida etc.

Appointment of Company Auditor Under Section 139 in Form ADT-1

1. Every Company to appoint a firm or an individual as an Statutory auditor at its first annual general meeting (AGM), Who shall hold office from the conclusion of that meeting till the conclusion of its 6^th Annual General Meeting (AGM) and thereafter till conclusion of every 6^th meeting and such appointment of auditor should be filed with Ministry of Corporate Affairs in From ADT-1 and Form ADT-1 need to file with 15 days from the date of such appointment.
2. The company shall place the matter relating to such appointment for ratification by members at every annual general meeting.  So, the Auditor will be appointment every year by the shareholders.
3. The Board shall take into consideration, the qualification and experience of the person proposed for appointment as auditor.  Where a company has constituted an audit committee, the audit committee shall recommend the name of an individual or a firm as auditor or recommend the same to members in the AGM for appointment.
4. Where a company has constituted an Audit Committee, the committee, or in cases where such a committee is not required to be constituted, the Board, shall consider the qualification etc of the Board as the case may be, shall recommend the name of an The committee or the Board as the case may be, shall recommendation and appointment individual or firm as auditor to the Board. Process of recommendation and appointment in an AGM also provided.
5. The Auditor will be required to give a certificate that he is duly qualified to be appointment as the Auditor of the Company .The proposed appointment shall be within the term allowed and the limits laid down in the Act. 

Due Diligence Financial Services not only involve in Company registration in Delhi or Deoghar Ranchi Noida Faridabad including Patna Dhanbad Ghaziabad Gurgaon. We provides services of Corporate Business Consultant or Company Registration Consultant in Delhi or Gurgaon Deoghar Patna Bihar Jharkhand Dhanbad Noida Ghaziabad start from Company Formation and end with Company Winding up.

Meaning of Related Party Under Company Act 2013

Due Diligence Financial Services is duly managed by Indian professional who is professionally involve in Company registration in Noida and also provides services of Company Registration in Delhi. We are one of the best professional as Company Registration Consultant in Delhi and Company Registration consultant in Noida.

1. Section 2 sub section 76 has defined the meaning of related party for the purpose of disclosure of related party transaction wherever required. In reference to Company related party means.
2. Director of the company and his related.
3. Key person of the company i.e. managerial personnel of the company and his relative.
4. Meaning of related party extended and includes a firm in which director of the company or manager and their relative is a partner.
5. A private company in which director or manager and their relative is a member or director of the company comes within the meaning of related party.
6. Any public limited company in which director or manager and their relative, who possess shareholding more than 10% of paid of share capital of the company.
7. BOD or Managing Director or Manager of any body-corporate who are accustomed to act in the accordance with instruction or direction or advice of a manager or director.
8. If the Director or manager of the company accustomed to act on the director or advice or instruction but this condition do not apply if the director or instruction is being given in a professional capacity.
9. A company which is

(a)  An associates company or holding or subsidiary of such company

(b)  A subsidiary of their holding company

(c)   Other person as may be prescribed from time to time.

Format of INC-8 and Rule Applicable There To

Section 7(1) (b) of the Companies Act 2013 provides that there required for Company registration to file a declaration Form from Chartered Accountant or Cost Accountant Advocate or Company Secretary who is in Full time practice and who is involved in Company formation process to the Registrar of Company at the time of company incorporation. In terms the provision of the companies act and following Section 7(1) (b) rule 14 has been introduced under Companies (Incorporation) Rule 2014 and accordingly under Rule 14 Form INC-8 has been framed. In Form INC-8 there required a Declaration from Company Registration Consultant that they have fulfilled all the requirement of Companies Act 2013 and rule applicable for registration of company under this act.

Due Diligence Financial Services provide the best solution for every business issue in form of Fixed Assets Tagging Services or Service Tax Registration Services or Income Tax Consultant Services or DVAT registration or UP VAT registration or LLP registration or OPC registration or Company Registration in Delhi NCR Noida Gurgaon and Ghaziabad.

Format of INC-10 for Company Registration:

Rule 16 of Companies (Incorporation) Rule 2014 describes the Form INC-10 for Verification of Signatures and photograph from Banker or Notary. INC-10 is one of the important document for Company Registration either in Delhi or in Noida or in Gurgaon or in Ghaziabad even it apply equally to each states of India for Company incorporation. Every Subscribers of Memorandum or Articles of Association must file Form INC-10 to the Registrar of Companies at the event of Company Formation. For the preparation of the form there required to fill some information about the subscribers such as Name of the Subscriber or Father’s Name of the Subscribers or Nationality or Date of Birth or Education Qualification or Occupation and present address.

Due Diligence Financial Services provides complete guide for Procedure for Company incorporation in India as one of the best Company Registration Consultant and provides professional Services in Delhi Noida Gurgaon Faridabad and Ghaziabad. For ease of the new professional we hereby give the format of INC-10 so that they can prepare the Form without any problem.

Procedure For Appointment of Company Auditor

Section 139 of the Companies act 2013 govern the procedure for appointment of auditor. 139. Section 139 stipulates that Subject to the provisions of this Chapter every company must appoint at its first annual general meeting an individual Chartered Accountant or a firm of Chartered Accountant as an auditor and who shall hold position as an auditor from the conclusion of first AGM till the conclusion of its 6th annual general meeting and thereafter until the conclusion of every 6th meeting and the way and the procedure for selection of the auditors by the members of the company at such meeting as may be prescribed

Provided that the company can place the matter relating appointment of Company Auditor for ratification by its members at each annual general meeting:

Provided further that before Appointment Company auditor is made there need written consent of the proposed auditor for such appointment and there need to get a certificate from proposed auditor for appointment.

Due Diligence Financial Services provides complete solution for company starts from Company registration in Delhi Gurgaon Noida Ghaziabad Patna Bihar to Company Audit, Finance and Accounting outsource services, Online ITR Filing Services or Fixed Assets Tagging Services or Services Tax Registration, Online UP VAT registration or Online DVAT registration. DDFS is leading Company Registration Consultant in Delhi Noida Ghaziabad Gurgaon and provides online services with less burden.