Flock blog
Reading regulatory filings, sourced and dated.
Plain-English guides to the public filings Flock tracks: 13F reports, NSE and BSE shareholding patterns, bulk and block deals, and FII/DII flows. Every claim links to its source. Research, not advice.
Service on a Foreign Company: Section 383
Service on a foreign company is sufficient under section 383 if the document goes to the person filed under section 380, at the address filed with it.
Which Provisions Apply to a Foreign Company: s. 384
Section 384 sets which provisions apply to a foreign company: debentures, the annual return, CSR, books of account, charge registration and inspection.
Place of Business Under the Companies Act: s. 386
A place of business under the Companies Act includes a share transfer or registration office. Section 386 also widens director and defines certified.
Foreign Company Prospectus: Sections 387 to 390
A foreign company prospectus issued in India must be dated, signed, carry five constitutional particulars and be registered before it can circulate.
Penalty for a Foreign Company Default: Section 392
The penalty for a foreign company default under section 392 is a fine of one to three lakh rupees, plus a daily fine while the contravention continues.
Validity of a Foreign Company Contract: Section 393
Section 393 preserves the validity of a foreign company contract despite a default, but bars the company from suing on it until it complies with the Act.
Managerial Remuneration Without Profits: Schedule V
How managerial remuneration without profits works: Schedule V Part II slabs by effective capital, the special resolution route, and the conditions attached.
Recovery of Remuneration: Section 199 Explained
Section 199 forces recovery of remuneration from a managing director or CEO after a restatement for fraud, options included. How it differs from s. 197(9).
Appointment of Directors: Section 152 Explained
Appointment of directors under section 152: who the first directors are, the DIN precondition, the no-disqualification declaration, and consent filed in 30 days
Director Identification Number: Sections 153 to 159
A Director Identification Number is the one identifier a person may hold for directorships. The application, the one-month allotment, and the reporting chain.
Right to Stand for Directorship: Section 160
Section 160 gives a right to stand for directorship on 14 days' notice and a one lakh deposit, refundable at 25 per cent of valid votes. Who is exempt.
Individual Voting on Director Appointments: s. 162
Section 162 requires individual voting on director appointments: two or more in one resolution needs prior agreement with no vote against, or the vote is void.
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