What is schedule 6 of companies act?
Schedule 6 provides general instructions to prepare balance sheet and Profit and Loss Account
Thirdly, the term "Turnover" is not defined in the Schedule or in the Definition section 2 of the Act. The said definition can be borrowed from section 43A, though the said provision is more or less inoperative since passing of the Companies (Amendment) Act, 2000. The said definition says that "Turnover" means aggregate value of the realisation made from sale, supply or distribution of goods or on account of services rendered, or both by a…
Scheduled Banks in India constitute those banks which have been included in the Second Schedule of Reserve Bank of India(RBI) Act, 1934. RBI in turn includes only those banks in this schedule which satisfy the criteria laid down vide section 42 (6) (a) of the Act. The banks included in this schedule list should fulfil two conditions. 1. The paid capital and collected funds of bank should not be less than Rs. 5 lac. 2.Any…
Only Public Companies as defined in Section 3(i)(iv) of companies act 1956 can use word limited in their name.Private Companies sh Only Public Companies as defined in Section 3(i)(iv) of companies act 1956 can use word limited in their name.Private Companies shall use private limited at the end of their name and it is optional for the companies registered under section 25 of the Companies act 1956 to use word limited.
As per provisions of the LLP Act, in the absence of agreement as to any matter, the mutual rights and liabilities shall be as provided for under Schedule I to the Act. Therefore, in case any LLP proposes to exclude provisions/requirements of Schedule I to the Act, it would have to enter into an LLP Agreement, specifically excluding applicability of any or all paragraphs of Schedule I.
Scheduled Banks in India constitute those banks which have been included in the Second Schedule of Reserve Bank of India(RBI) Act, 1934. RBI in turn includes only those banks in this schedule which satisfy the criteria laid down vide section 42 (6) (a) of the Act. Non-scheduled bank in India" means a banking company as defined in clause (c) of section 5 of the Banking Regulation Act, 1949 (10 of 1949), which is not a…
Discuss the role and responsibilities of company directors and auditors under the companies Act in Malaysia?
Did a person applying for shares in a company in fictitious name is liable to be punished with imprisonment as per Indian companies Act?
The Sarbanes-Oxley Act of 2002 applies to publically held companies (generally, companies that have undergone an IPO or are traded on a public exchange), and is enforced under the oversight of the SEC. The Sarbanes-Oxley Act does not apply to privately held companies or companies that do not have to report their earnings or financial statements publically.