Managerial remuneration : Total managerial remuneration in the case of a Public Company cannot exceed 11% of the net profits, and in case of inadequate profits a maximum of Rs. It is called a common seal as it can be used by any officer at any level Characteristics of Joint Stock Company : Characteristics of Joint Stock Company v. Perpetual existence
A joint stock company continues to exist as long as it fulfils the requirements of law. Rs 5 per share on call. Required fields are marked *, Notice: It seems you have Javascript disabled in your Browser.
e.g. I was in Presentation mode, but no one else was. Difference between Private Limited and Public Limited Companies : Difference between Private Limited and Public Limited Companies 8. A company may issue shares for consideration other than cash. Taxguru Consultancy & Online Publication LLP, 509, Swapna Siddhi, Akurli Road, Near Railway Station, Kandivali (East), Presentation on Issue of Preference Shares, TDS on Foreign Payment for Event to be held outside India, Treatment of Duty Free Entitlement (Govt.
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5 each on subsequent calls, 20,000 shares were fully- subscribed and moneys duly received. a Private Company cannot issue Prospectus, whereas a Public Company is free to invite public for subscription i.e., a Public Company can issue a Prospectus. However, companies having less than 51% share holding by the government can also be called Government companies provided control and management lies with the government. Number of Directors : A Private Company may have 2 directors to manage the affairs of the company, whereas a Public Company must have at least 3 directors. Now either Start or Join a Zoom meeting. A public company must file a prospectus or statement in lieu of prospectus, inviting offers from the public for the purchase of shares in the company.. 2. Issue of Shares 1. July 28, 2020, Posted in
Now the Articles of Associati… Separate legal entity
Being an artificial person, a joint stock company has its own separate existence independent of its members. shares is to be paid only when the company has earned profits. As of this date, Scribd will manage your SlideShare account and any content you may have on SlideShare, and Scribd's General Terms of Use and Privacy Policy will apply. Now customize the name of a clipboard to store your clips.
Call a Board Meeting by giving not less than 7 days of notice to every director of the company. ii) Out of the proceeds of a fresh issue of shares made for the purpose of such redemption. Notas Promisorias. Artificial person : Company is called an artificial person as its birth, existence and death are regulated by law and it does not possess physical attributes like that of a normal person. This will definitely make your life more easier. A company cannot issue all of its authorised capital at once. Allotment monies may be required at this stage
Making calls for payment of balance money, if any Issue of SharesThe prospectus states the number of shares offered and the amount of application money required : Issue of SharesThe prospectus states the number of shares offered and the amount of application money required Shares issued fully paid on application : Shares issued fully paid on application Excess application money returned : Excess application money returned Allotment of Shares : Allotment of Shares Journal Entries on Call Payments : Journal Entries on Call Payments Journal Entry on Call Money Received : Journal Entry on Call Money Received Calls in arrears : Calls in arrears Call on shares is made
Co may not receive all call monies owed
Call account remains in a debit balance
New account – Call in arrears and the above is transferred to this account
Call in arrears = Shareholder equity account = reduction in share capital
Co constitution may call for shareholders with calls in arrears to forfeit their shares and the share reissued Calls in Arrear : Calls in Arrear Call Money received in advance : Call Money received in advance Calls in advance adjusted : Calls in advance adjusted Interest payable on Calls in advance : Interest payable on Calls in advance Shares issued at Premium : Shares issued at Premium A company is allowed to issue shares at premium
The amount of premium is transferred to “Share Premium A/c”
The share premium amount can be utilized
In writing off preliminary expenses
For issue of shares as fully paid bonus shares
For premium payable on redemption of preference shares
In writing off any discount allowed on issue of shares/debentures
In buying back its own securities Shares issued at Premium : Shares issued at Premium Shares Alloted at premium : Shares Alloted at premium Case Study : Case Study Fashion Fabrics Ltd. issued 100000 shares of Rs.10 each on 1st April, 2006. • Capital Redemption Reserve account may be applied by the company, in paying up unissued shares of the company to be issued to members of the company as fully paid bonus shares. The companies in India are governed by the Indian Companies Act, 1956 Characteristics of Joint Stock Company : Characteristics of Joint Stock Company i. Nature of shares to be issued, cumulative or non-cumulative, participating or nonparticipating, convertible or non-convertible. This can be measured by the amount of dividends that they receive and by the price of the share, quoted on the stock market . Every company has its own common seal, which act as the official signature of the company. Shareholders are the true owners of a Company, but usually,
Dating for everyone is here: ❶❶❶ http://bit.ly/2u6xbL5 ❶❶❶, Issue of Right Shares under the Companies Act, 2013, No public clipboards found for this slide. Expected dilution in equity on conversion, if applicable. Difference between Private Limited and Public Limited Companies : Difference between Private Limited and Public Limited Companies 5 .Issue of Prospectus : A Private Company is prohibited from inviting the public for subscription of its shares, i.e.
Vencimiento de los t tulos ... - ... in shares, debentures, charges, futures, prescribed interests and things ... International trading outside the region can apply in this area as elsewhere. 12. Shareholders are the owners of the business. Shares & debentures of a Co. not governed by the Co's Act; ... - Internal (eg shares, retained earnings) vs external (eg loans, debentures, trade finance) ... debenture holders can sell or use debentures as security ... - Debentures. Looks like you’ve clipped this slide to already. As a single mother every little bit counts! (b) Cumulative preference shares are preference shares which, apart from having a preferential right to receive a fixed dividend ahead of ordinary shares, also carry the right of any arrears of the preference dividends which may have built up. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. - CREDIT MONITORING THROUGH RATING MIGRATION. The amount payable on these shares was as under:
Rs 2 per share on application.
Conduct a General Meeting as per the notice to board meeting and pass the special resolution. Commencement of Business : A Private Company can commence its business immediately after its incorporation, whereas a Private Company cannot start its business until a Certificate to commencement of business is issued to it.
Legal formation : A joint stock company comes into existence only when it has been registered after completion of all formalities required by the Indian Companies Act, 1956.
ii. (c) Non-cumulative preference shares are preference shares which are not entitled to any arrears in dividends.
Costs associated with share issue : Costs associated with share issue Issue of Bonus Shares : Issue of Bonus Shares Bonus Shares may be issued at par or at premium
Before Bonus shares are issued all the existing shares must be either fully paid or made fully paid
Whenever Bonus is declared Share Capital increases and Reserves decrease
Declaration of Bonus is known as Capitalization of reserve Sources of Declaration of Bonus : Sources of Declaration of Bonus P & L A/c credit balance
General Reserve
Capital Reserve
Balance in Debenture Redemption or Sinking Fund
Capital Redemption Reserve
Share Premium A/c
Capital Redemption Reserve & Share Premium A/c can be used only for issue of fully paid bonus shares and not for making partly paid shares fully paid When Bonus is declared : When Bonus is declared Bonus utilised for issue of Bonus Shares at Par : Bonus utilised for issue of Bonus Shares at Par Bonus Utilised for issue of Bonus Shares at Par : Bonus Utilised for issue of Bonus Shares at Par Bonus Utilised for issue of Bonus Shares at Premium : Bonus Utilised for issue of Bonus Shares at Premium Forfeiture and Re-issue of shares : Forfeiture and Re-issue of shares By becoming a shareholder a person enters into a contract with the company that he is liable to pay full price of the share to the company from time to time and as and when the calls are made by the company
If he fails to comply the company can forfeit his shares
Forfeiting means taking back the shares without giving any compensation to the shareholder Procedure : Procedure As per Articles of Association the company has power to forfeit the shares only for non payment of call money
Notice to the defaulting shareholder sent warning him about the forfeiture of shares
On shareholder’s failure to pay the amount due in time a resolution to forfeit the shares is passed by the directors Forfeiture of shares issued at par : Forfeiture of shares issued at par Amount called up are debited to Share Capital A/c – Forfeiture means cancellation of shares and reduction in share capital
Unpaid amount is credited to Share Allotment or Calls-in-Arrears A/c
Amount received so far on forfeited shares is transferred to Shares Forfeited A/c Forfeiture of shares issued at Par : Forfeiture of shares issued at Par Forfeiture of shares issued at Premium : Forfeiture of shares issued at Premium Forfeiture of shares issued at Discount : Forfeiture of shares issued at Discount Reissue of shares at Par : Reissue of shares at Par Re-issue of shares at Premium : Re-issue of shares at Premium Re-issue of shares at Discount : Re-issue of shares at Discount Profit on Re-issue : Profit on Re-issue Amt received originally on forfeited shares
(Re-issued shares/ Forfeited shares) * 1
Discount on Re-issued shares = Paid up price less Re-issue price
Profit on Re-issue = Amt forfeited less Discount Bookbuilding : Bookbuilding Occurs where an investment banker solicits bids from institutional investors prior to pricing an equity issue Stapled securities : Stapled securities Stapling is an arrangement under which different securities are quoted jointly. on
If you wish to opt out, please close your SlideShare account. Prospectus and Allotment of Securities ... (including through summary procedure) ... - SIN GARANTIA (DEBENTURES) NO SUBORDINADOS. Now customize the name of a clipboard to store your clips. Academia.edu is a platform for academics to share research papers. SUBORDINADOS. Co may choose to keep this money and allocate it against money owing on allotment and future calls
Directors can only make this decision if allowed by Co constitution Retention of excess application monies : Retention of excess application monies Costs associated with share issue : Costs associated with share issue Preparation of prospectus
Registration with SEBI
Publication
Receipt of money
Issue of shares
Including stamp duty and taxes, professional advisers’ fees, underwriting costs, commissions and brokerage fees
The above “equity issue costs” must be recognized in equity
Indirect costs are not included as transaction costs.
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