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Provisions of companies act 2013 related to startup?

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Things new businesses should think about Companies Act, 2013

The Companies Act, 2013 has gotten outrageous responses from the Corporate Sector. 

The Indian new businesses really have far to go from here. download This article will take you through significant arrangements of the new organizations Act, 2013 which are going to affect the Indian new companies.

One Person Company idea:

The new companies will have the option to begin a business as a One Person Company and can be known as a private restricted organization which is an extraordinary move as in India most independent ventures are begun by one individual and run as sole ownership.

Access to Crowd subsidizing:

New businesses would now be able to connect for swarm financing or blessed messenger subsidizing with up to 200 individuals.

Significant Relaxations:

A Small Company having a settled up capital of not as much as Rs 50 lakh or with a greatest turnover of Rs 2 crore has been given a few relaxations like their fiscal reports need exclude income; just two executive gatherings are compulsory, one each in half of a schedule year; the yearly come back to the Registrar of Companies (ROC) can be marked by the chief of the organization

Advanced mark authentication compulsory for getting executive recognizable proof number

Corrective arrangements for non-compliance: In the New Companies Act, punishments for rebelliousness for specific arrangements have been expanded altogether. 

Document returns for back to back three years

Neglect to deliver profit

Additionally, the executives can't leave the organization from the situation of chief till the profits are documented. The following is the rundown of significant correctional arrangements:

Documenting of yearly returns:â If not done, at that point the concerned officials can confront prison or/and fine of Rs 50,000 to Rs 5,00,000

AGM:Â If not led at that point fine of Rs 1,00,000 or potentially Rs 5,000 every day for the officials

Appropriate release of obligations by the Director:â If not done, at that point prison or fine of Rs 1,00,000 to Rs 5,00,000

Keeping up minutes of Board Meetings:â If not done, at that point fine of Rs 25,000 as well as prison upto 2 years

Valuation of offers required to raise capital Separate financial balance for keeping Investment cash