Purpose of the Companies Act The Companies Act, 2013 governs all companies in India and defines the functioning, roles, statutory duties and responsibilities of a company, its members and other associated people.
Request for Publication If the applicant wishes to obtain an early publication date, he/she can do so by filing an application under Section 11 A (2) of the Indian Patents Act.
Right of surrender: A patentee can at any point choose to surrender the rights as well as the obligations that they have over their patent by following a legal procedure.
Types of Audit Company audits in India are classified as follows: Statutory Audits Internal Audits Requirement Statutory Audit Internal Audit Applicability All companies irrespective of nature of business or turnover Classes of companies mentioned under the Companies Act Auditor Independent Chartered Account or a firm of chartered accounts Independent Chartered Account or a firm of chartered accounts (other than statutory auditor) / Cost accountant / any other professional that the company deems fit Scope Financial statements and records Financial statements and other aspects of the company’s activities.
Under the provisions of the Companies Act, 2013, there are certain compliance requirements that Private limited companies would need to comply with in order to avoid penalties, or worse, strike-off.