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Procedure for Resignation of Director CS Executive Company Law   Procedure for Resignation of Director (Section 168 of the Companies Act,2013)   The Director intends to resign shall send a notice in writing to the Company. The resignation of a director shall take effect from: The date on which the Notice is received by the company or The Date, if any, specified by the Director in the notice, whichever is later. The director who has resigned shall be liable even after his resignation for the offenses which occurred during his tenure. The law has caste duty upon the Director resigning to file form DIR- 11 (Company shall file form DIR 12) and Mention therein the Reason for Resigning. Enclose the copy of the Notice sent to the Company. Enclose Proof Of Dispatch File the said form within 30 days of resignation along with the prescribed filing fees. There is warning note at the end of the form which states as follows:  Note: Attention is also drawn to provisions of Section 448 and 449 which

Set-Off:   Set Off is dealt with in accordance with Rule 6 of Order 8 of the Code of Civil Procedure, 1908. It's a defense mechanism for the sum of money owed. It's the form of a cross, a suit. Legally, it is defined as the reciprocal acquirement of the debts between the parties, i.e. between the plaintiff and the defendant. It eliminates or extinguishes the claim of the plaintiff to the extent of the amount of money claimed by the defendant as a counterclaim.   In simple terms, this means that if two parties owe money to each other but one of the two parties owes more money than the other party pays the net amount and settles the money owed.   Pursuant to Rule 6 of Order 8 of the Court, where the defendant claims, in an action against the plaintiff, the recovery of money which the plaintiff has legally recovered from the plaintiff, not exceeding the pecuniary limit of the Court, and where both parties have the same character as the plaintiff's claim, the defendant may, at

SOCIAL RESPONSIBILITY CS Executive CORPORATE Corporate Social Responsibility is a regulation which obliges companies to take an active part in complying with the legal spirit of the ethical norm and international norm. CSR activities help the organization to have a better impact on society, consumers and our stakeholders. It gives the edge to CSR-following business over others.   APPLICABILITY OF CSR ON BUSINES As per section 135 of the Act 2013 of the Company,   Every company that lies in these conditions must spend the prescribed amount on CSR activities:-   1.  Company with a net value of 500crore ropes or more 2.  Company with a turnover of roupees 1000crore or more 3.  Company with a net profit of 5crore or more Upon compliance with any of the above conditions, the company shall establish a CSR committee, which shall establish policies related to CSR expenditure and shall be disclosed in the report of the board of directors. The company shall make expenditure of at least 2 per cen

What is a Negotiable Instrument and Types?   NEGOTIABLE INSTRUMENTS is a very interesting topic in Economic, Business, and Commercial Law, which is also part of our CS Online Coaching Class. The following is explained:   What is Negotiate Instrument?   A "negotiable instrument" means a promissory note, a bill of exchange or a check payable either to the ordering party or to the holder.   TYPES OF NEGOTIABLE INSTRUMENTS   Negotiable instruments recognized by statutes: the Negotiable Instruments Act mentions only three types of negotiable instruments (Section 13).   These are the following: i. Promissory Notes ii. Bills of Exchange, and iii. Cheques   Negotiable instruments recognized by the use or customs of trade: certain other instruments have acquired the characteristic of negotiability through the use or customs of trade.   For example, Exchequer bills, banknotes, Share warrants, Circular notes, Bearer debits, Dividend warrants, Share certificates with blank transfer deed

In CS Online Coaching Classes, the Negotiable Instrument Act is a very interesting subject of Economic, Business and Commercial Law, which is discussed in a cheque that is explained below:   What's a Cheque? A cheque is a bill of exchange drawn from a specified banker and not expressed as payable otherwise than on demand and includes an electronic image of a truncated cheque and a cheque in an electronic form. (Sec. 6 of the NIA)   Explanation I – For the purposes of this section, the terms-   An electronic form cheque means a cheque that contains the exact mirror image of a paper cheque and is generated, written and signed in a secured system that ensures minimum safety standards with the use of a digital signature (with or without a biometric signature) and an asymmetric cryptosystem; A truncated cheque shall mean a cheque which is truncated in the course of a clearing cycle, either by the clearinghouse or by the bank, whether paying or receiving payment, immediately on the gener

About the  CS Executive Company Law : The  Companies Act  is mammoth legislation. The  Companies Act, 1956  was one of the lengthiest Act with 658 Sections which was repealed by The  Companies Act 2013  containing 470 Sections. The new Act was a need of the hour as the 50 years old law required a new structure with added perspectives. It Act is nothing but all about companies since its incorporation till its winding up. In spite of several sections to understand this statue, we just need to understand a few basic principles.   Structure: In legal sense, Company is a business association. A group of persons associate themselves to conduct a business under a common name. They invest their amounts into business under a common named entity, by way of subscription of shares. They appoint personnel to look after and direct the business, known well as Directors. When the business makes a profit, it is distributed to the holders of the share. In case of losses, the holders of share are held re

How to Prepare CS Executive Tax Laws and Practice - Tips and Tricks || CS Executive Online Classes Tax Laws and Practice – A  tax  might be characterized as ” a mandatory extraction made by the focal government from the overall population. It is a monetary charge forced on people or lawful substances by the public authority in accordance with its authoritative position. Assessment is an assortment of cash from the general population for the public reason enforceable by law and it isn’t for the installment of some other reevaluation. It is one of the significant wellsprings of income of the public authority. It assumes a significant function in the development and advancement of the nation’s economy framework and different offices.   An  income tax  is a duty that legislatures force on pay created by organizations and people inside their locale. By law, citizens must record a personal assessment form every year to decide their expense commitments. Annual expenses are a wellspring of in

  CS Executive Entrance Test | Exam Pattern, Eligibility, Fees, and all details. Secretary of the Council of Institutions of the Company for the exercise of reserve powers as per sub-section (a) (a) of section 15 of the Company Secretaries Act, 1980 Amendment to the Company Secretaries (Amendment) Act, 2006 reads Regulation 20 (1) (ii) The Company Secretary (Amendment) Rules, 2020 approved the course of the Company Secretary Executive Entrance Examination (CSEET).  All candidates are required to pass the  C S  Executive Entrance Test  (CSEET) to register with CS. Executive programs, except for certain candidate categories, with effect from, 3 February 2020. With the introduction of  CSEET , new registrations of the Foundation Program have been abolished Present. To know More About |Exam Pattern, Eligibility and Fee Subscribe Our Youtube Channel.  You Can Also Visit Our Website  www.takshilalearning.com  For  More Detail On CSSET and CS Executive Online Classes Here, at Takshila Learni