On 8th June 2018, The Securities and Exchange Board of India (SEBI) intimated the companies that physical shares cannot be transferred if not dematerialised before 1st April 2018.
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.
The financial statements issued by the company have to conform with the accounting principles issued by the Institute of Chartered Accountants of India.
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.