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What are the different modes of acquiring membership?
As person can be a member of a Company bye the following modes or you can say circumstances. In present day corporate scenario there are five different modes of acquiring membership in a company, they are as under:- 1. By Subscribing to Memorandum 2. By application and allotment 3. By Transfer 4. By Transmission 5. By Undertaking to take qualification Shares A brief explanation of the above modes are as follows. 1. By Subscribing to Memorandum: A subscriber to the Memorandum becomes a member on the registration of the Company even though there is no application for shares or allotment. 2. By application and allotment: An application for shares is an offer to take shares. Allotment is acceptance of that offer of the company. When shares are allotted to an applicant, he becomes a member. There is prescribed punishment for those who makes an application in fictitious name to a company for acquiring shares or subscribing any shares to a term which may extend to five years imprisonment. This is to avoid shareholding in the names of fictitious or non existing persons. 3. By Transfer: When a person who purchased the shares from the open market, applies to register his name in the company register of the original share holder and when his name is entered in the register of members, he becomes a member by transfer. 4. By Transmission: When a Share holder is dead and his legal heirs applies for registering their names and when the company entering their name, they become members of the company. 5. By Undertaking to take qualification Shares: A Director who signed an undertaking to take ans pay for the qualification shares is also in the same position as Subscriber of Memorandum. The above are the five modes of acquiring membership of a company under the Companies Act 1956.
What is the difference between transfer and transmission of shares?
(1) Transfer of Shares: Meaning: Transfer means transferring the shares on the name of some other person on a voluntary basis. Initiative: The transfer-or and transferee takes initiative. Nature of Action:It is a deliberate action taken by a share holder. Parties: There are two parties i.e. transfer-or and transferee to the transfer of shares. Documents Required: An instrument of transfer has to be duly executed by the transfer-or and transferee. Stamp Duty: It is payable on the market value of shares Right of Refuse: The directors of the company can refuse transfer of shares on certain grounds. Consideration: There must be an adequate consideration for the transfer of shares, unless they are transferred by way of gift. (2) Transmission of Shares: Meaning: Transmission of shares means the passing of property or title in shares by the operation of law froa member to his legal representative on the happening of a certain event like death, insolvency or lunacy. Initiative: The legal heir of the deceased share holder takes the initiative. Nature of Action: It is not deliberate action of a shareholder, but the result of operation of law, after he dies or becomes insane or bankrupt. Parties: The legal heir of the deceased share holder is involved. Documents Required: Certain documents like court order of insolvency, death certificate are required for transmission of shares. Stamp Duty: No stamp duty is payable for transmission of shares. Right of Refuse: Transmission of shares can't be refused, it is under operation of law. Consideration: The question of consideration does not arise in the case of transmission of shares, as it is due to the operation of law.
Can the son of a director who is neither a director nor any officer in the company be authorised to operate the bank account in the name of the company?
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What is Section 38 of the Companies Act 2013?
Section 38 of the Companies act establishes standards or parameters of penalties for using and allotting the shares in Fictitious Name it says – A person shall be liable to punishment under section 447 if he : Makes in a fictitious name an application to a company for acquiring, or subscribing for, any shares therein, or Otherwise includes a company to allot or register any transfer of shares therein to him or any other person in a fictitious name. These provisions shall be prominently reported in every prospectus issued by the company and in every form of application of shares issued by the company to any person. Personation: imitating the mannerisms of another person Personation of acquisition: Any person who makes or abets making of an application in a fictitious name to a company for acquiring, or subscribing for, its securities.
How can I give a stock certificate gift to someone?
To give a stock certificate gift to someone, you can purchase shares of a company in their name through a brokerage firm. Once the purchase is complete, you can request a physical stock certificate from the company's transfer agent and then present it as a gift to the recipient.
How do you write letter for transfer the share certificate?
When writing a letter to transfer a share certificate, it is important to include your personal details, such as your name, address, and contact information, as well as the recipient's information. You should clearly state your intention to transfer the shares, specify the exact number of shares being transferred, and provide any relevant details about the company whose shares are being transferred. It is crucial to sign the letter and have it witnessed or notarized to ensure its validity. Additionally, you may need to include any supporting documents, such as the original share certificate and a stock transfer form, depending on the requirements of the company or financial institution handling the transfer.
What is the company name that created Winx Club?
The company that created the awesome Winx Club is: Rainbow S.P.A. The director's name is Iginio Straffi
Difference between Managing director and Whole Time Director?
Managing Director means a director who by virtue of an agreement with the company or of a resolution passed by the company in general meeting or by its Board of Directors or by virtue of its memorandum or articles of association is entrusted with substantial powers of management which would not otherwise be exercisable by him. It includes a director occupying the position of managing director by whatever name called. Whole time director includes a director in the whole time employment of the company. A person who does not devote substantially the whole of his time to the company is not a whole time director. A whole time director is virtually a managing director though not so designated. A director in charge is also in the same position as a managing director. It has been held that a Managing director is a part of the company's Board of directors and not a servant of the company.
What is the difference between India Ltd and India Pvt Ltd?
It is not mandatory to name the company with "India Ltd" or "India Pvt Ltd. If the company is a Public Limited Company (i.e. the shares of the company is listed with any of the Stock exchanges in India), the Company's name shall end with "Ltd or Limited". If the shares are not listed and privately held, the company name shall end with "Pvt Ltd or Private Limited". Some companies while naming their company for their own reasons add "India" to their company name.
What does BV at the end of a company name mean?
Expatax can assist you with establishing a limited company in the Netherlands. In Dutch this is called a 'besloten vennootschap'.DefinitionA besloten vennootschap (BV) is a company limited by shares (private limited company), whose shares are privately registered and not freely transferable.
Is there any courier service company which name is City Diplomatic Courier Service in UK. Is is possible to transfer money through this courier?
Is there courier company name Continent Courier Service in UK? Possible to transfer money to this company?
Is transfer smart a reputable company?
No. And they keep changing theirt name.
