A shareholder has the right to vote on the corporate policy which might involve making or selecting the board of directors, initiating corporate actions and when making any substantial changes in the operations of a corporation.
Termination of Promoter Duties The role of promoters comes to an end once the board of directors have been formed and they take over as the governing body of the company.
Such condition shall not define a small company in cases like: a holding company or a subsidiary company; a company registered under Section 8 any company or a corporate body governed by any special Act only a private company can be classified as a small company The status of a small company changes every year.
Letter of Recommendation A letter of recommendation (regarding the nature of business) from an incubator, recognised by the Government of India in the prescribed format provided by the DIPP.
The Government has also directed all the companies who get their supplies from micro and small enterprises to submit a half yearly return to the Ministry of Corporate Affairs ( MCA) if the payment exceeds 45 days from the date of acceptance. 1.