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2014

1. Appointment of key Managerial Personnel (Sec 203)

  • Every Company with a paid up share capital of Rs. 5 corers or More needs to now appoint:
    1. Managing Director or Chief Executive Officer or Manager or Whole Time Director; and
    2. Whole-time Company Secretary; and
    3. Chief Financial Officer
2014

Beautiful Story …

A very poor man lived with his wife.
~ O Henry! One day his wife, who had very long hair asked him to buy her a comb for her hair to grow well and to be well-groomed.

2014

A. Who and Whom

Using Who or Whom depends on whether you’re referring to the subject or object of a sentence.

Incorrect – I Consulted an attorney, who I met in New York.
Correct – I consulted an attorney whom I met in New York.

WHO

When in doubt, substitute Who with the subjective pronouns he or she, to ascertain the correctness of the use.

2014

How Company or Partnership Firms Can Prevent a Digital Data Disaster

  • The majority of small to midsized firms and companies are vulnerable to unexpected data loss.
  • As a Director/Partner you have an ethical duty to ensure that your clients’ electronic information is not lost, destroyed or disclosed.

Possible reasons of the Data loss:

2014

Banking Sector in India

  • RBI was set up in 1935 by the RBI Act, 1934 as a private bank with two extra functions – regulation and control of banks in India and being the banker of the Government.
  • It was only in the year 1949 after nationalization, it emerged as the Central Banking body in India.

2014

Q 1. What are the steps to incorporate LLP?

  • Name reservation: The first step to incorporate Limited liability partnership (LLP) is reservation of name of LLP. Applicant has to file e Form 1, for ascertaining availability and reservation of the name of a LLP business.
  • Incorporate LLP: After reserving a name, user has to file e Form 2 for incorporating a new Limited Liability Partnership (LLP).
    E Form 2 contains the details of LLP proposed to be incorporated, partners’/ designated partners’ details and consent of the partners/ designated partners to act as partners/ designated partners.
  • LLP Agreement: Execution of LLP Agreement is mandatory as per Section 23 of the Act. LLP Agreement is required to be filed with the registrar in eForm 3 within 30 days of incorporation of LLP.

Financial Management