Bare Act Search Results

Companies Act, 2013, Section 186

Title: Loan and Investment by Company

State: Central

Year: 2013

.....exemption to non-banking financial company shall be in respect of its investment and lending activities; (ii) made by a company whose principal business is the acquisition of securities; (iii) of shares allotted in pursuance of clause (a) of sub-section (1) of section 62. (12) The Central Government may make rules for the purposes of this section. (13) If a company contravenes the provisions of this section, the company shall be punishable with fine which shall not be less than twenty-five thousand rupees but which may extend to five lakh rupees and every officer of the company who is in default shall be punishable with imprisonment for a term which may extend to two years and with fine which shall not be less than twenty-five thousand rupees but which may extend to one lakh rupees. Explanation.--For the purposes of this section,-- (a) the expression "investment company" means a company whose principal business is the acquisition of shares, debentures or other securities; (b) the expression "infrastructure facilities" means the facilities specified in Schedule VI.

National Housing Bank Act, 1987 Chapter V

Title: Provision Relating to Housing Finance Institutions Receiving Deposits

State: Central

Year: 1987

In this Chapter the term 'deposit' shall have the meaning assigned to it in section 45-I of the Reserve Bank of India Act, 1934. Section 29 - Chapter not to apply in certain cases (1) The provisions of this Chapter shall not apply to deposits accepted by a housing finance institution which is a firm or an unincorporated association of individuals. (2) For the removal of doubts, it is hereby declared that the firms and unincorporated associations of individuals referred to in sub-section (1) shall continue to be governed by the provisions of Chapter III C of the Reserve Bank of India Act, 1934. Section 29A - Requirement of registration and net owned fund 1[29A. Requirement of registration and net owned fund (1) Notwithstanding anything contained in this Chapter or in any other law for the time being in force, no housing finance institution which is a company shall commence or carry on the business of a housing finance institution without- (a) obtaining a certificate of registration issued under this Chapter; and (b) having the net owned fund of twenty-five lakh rupees or such other higher amount, as the National Housing Bank may, by notification, specify. (2).....

Finance Act, 2007 Complete Act

State: Central

Year: 2007

.....in the Fifty-eighth Year of the Republic of India as follows- CHAPTER 1: PRELIMINARY: SECTION 1: Short title and commencement: (1) This Act may be called the Finance Act, 2007. (2) Save as otherwise provided in this Act, sections 2 to 93 shall be deemed to have come into force on the 1st day of April, 2007. CHAPTER 2: RATES OF INCOME-TAX: SECTION 2: Income-tax: (1) Subject to the provisions of sub-sections (2) and (3), for the assessment year commencing on the 1st day of April, 2007, income-tax shall be charged at the rates specified in Part I of the First Schedule and such tax as reduced by the rebate of income-tax calculated under Chapter VIII-A of the Income-tax Act, 1961(43 of 1961) (hereinafter referred to as the Income-tax Act) shall be increased by a surcharge for purposes of the Union calculated in each case in the manner provided therein. (2) In the cases to which Paragraph A of Part I of the First Schedule applies, where the assessee has, in the previous year, any net agricultural income exceeding five thousand rupees, in addition to total income, and the total income exceeds one lakh rupees, then,-- (a) the net agricultural income shall be taken.....

Companies Act, 1956 Complete Act

State: Central

Year: 1956

.....as in the (Depositories Act, 1996) (22 of 1996); (12B) "derivative" has the same meaning as in clause (aa) of (S.2 of the Securities Contracts (Regulation) Act, 1956) (42 of 1956);] (13) "director" includes any person occupying the position of director, by whatever name called; (14) "District Court" means the principal Civil Court of original jurisdiction in a district, but does not include a High Court in the exercise of its ordinary original civil jurisdiction ; [(14A) "dividend" includes any interim dividend;] (15) "document" includes summons, notice, requisition, order, other legal process, and registers, whether issued, sent or kept in pursuance of this or any other Act or otherwise ; [(15A) "employees stock option" means the option given to the whole-time directors, officers or employees of a company, which gives such directors, officers or employees the benefit or right to purchase or subscribe at a future date, the securities offered by the company at a pre-determined price;] (16) "existing company" means an existing company as defined in (section 3); (17) "financial year" means, in relation to any body corporate, the period in respect of which.....

Finance Act 2007 Chapter III

Title: Direct Taxes

State: Central

Year: 2007

.....the purposes of this clause, "commodity exchange" shall mean a "registered association" as defined in clause (jj) of section 2 of the Forward Contracts (Regulation) Act, 1952(74 of 1952);'; (g) in clause (23FB), with effect from the 1st day of April, 2008 -- (i) for the words "set up to raise funds for investment", the words "from investment" shall be substituted; (ii) in Explanation 1, for clause (c), the following clause shall be substituted, namely:-- '(c) "venture capital undertaking" means such domestic company whose shares are not listed in a recognised stock exchange in India and which is engaged in the-- (i) business of-- (A) nanotechnology; (B) information technology relating to hardware and software development; (C) seed research and development; (D) bio-technology; (E) research and development of new chemical entities in the pharmaceutical sector; (F) production of bio-fuels; (G) building and operating composite hotel-cum-convention centre with seating capacity of more than three thousand; or "(H) developing or operating and maintaining or developing, operating and maintaining any infrastructure facility as defined in the Explanation to.....

Finance Act 1975 Chapter III

Title: Direct Taxes

State: Central

Year: 1975

.....the following clause shall be inserted, namely :- "(viii) to such income credited or paid by the Central Government under any provision of this Act or the Indian Income-tax Act, 1922 (11 of 1922) or the Estate Duty Act, 1953 (34 of 1953) or the Wealth-tax Act, 1957 (27 of 1957) or the Gift-tax Act, 1958 (18 of 1958) or the Super Profits Tax Act, 1963 (14 of 1963) or the Companies (Profits) Surtax Act, 1964 (7 of 1964) or the Interest-tax Act, 1974 (45 of 1974)."; (b) after sub-section (3), the following sub-section shall be inserted, namely :- "(4) The person responsible for making the payment referred to in sub-section (1) may, at the time of making any deduction, increase or reduce the amount to be deducted under this section for the purpose of adjusting any excess or deficiency arising out of any previous deduction or failure to deduct during the financial year.". (2) Notwithstanding the substitution of clause (i) of sub-section (3) of section 194A of the Income-tax Act by sub-section (1) of this section, nothing in section 201 or section 276B of that Act shall apply to, or in relation to, any failure to deduct income-tax under sub-section (1) of the said section.....

Companies Act, 1956 Part 6

Title: Management and Administration

State: Central

Year: 1956

.....Act, 1996, shall be deemed to be an index of members and register and index of debenture-holders, as the case may be, for the purposes of this Act.] ____________________ 1. Inserted by Act 22 of 1996, Section 30 and Schedule (w.r.e.f. 20-9-1995). Section 153 - Trusts not to be entered on register No notice of any trust, express, implied or constructive, shall be entered on the register of members or of debenture-holders1[***] ____________________ 1. The words "or be receivable by the Registrar" omitted by Act 53 of 1963, Section 6 (w.e.f. 1-1-1964). Section 153A - Appointment of public trustee 1[153A. Appointment of public trustee 2[(1)] The Central Government may, by notification in the Official Gazette, appoint a person as public trustee to discharge the functions and to exercise the rights and powers conferred on him by or under this Act.] 3[(2) The provision of this section shall not apply on and after the commencement of the Companies (Amendment) Act, 2000.] ____________________ 1. Inserted by Act 53 of 1963, Section 7 (w.e.f. 1-1-1964). 2. Section 153A renumbered as sub-section (1) thereof by Act 53 of 2000, Section 63 (w.e.f. 13-12-2000)......

Companies Act, 2013, Schedule

Title: Schedule Iii

State: Central

Year: 2013

.....investments do not have a value on realisation in the ordinary course of business at least equal to the amount at which they are stated, the fact that the Board is of that opinion, shall be stated. PART II - STATEMENT OF PROFIT AND LOSS Name of the Company......................... Profit and loss statement for the year ended ........................... (Rupees in............) Particulars Note No. Figures as at the end of current reporting period Figures as at the end of the previous reporting period 1 2 3 4 I. Revenue from operations xxx xxx II. Other income xxx xxx III. Total Revenue (I + II) xxx xxx IV. Expenses: Cost of materials consumed Purchases of Stock-in-Trade Changes in inventories of finished goods xxx xxx work-in-progress and xxx xxx Stock-in-Trade xxx xxx Employee benefits expense xxx xxx Finance costs Depreciation and amortisation expense Other expenses Total expenses xxx xxx V. Profit before exceptional and extraordinary items and tax (III - IV) xxx xxx VI. Exceptional items xxx xxx VII. Profit before.....

Finance Act 1975 Section 6

Title: Amendment of Section 40a

State: Central

Year: 1975

.....company" means a company to which the Banking Regulation Act, 1949 (10 of 1949), applies and includes any bank or banking institution referred to in section 51 of that Act; (b) "deposit" means any deposit of money with, and includes any money borrowed by, a company, but does not include any amount received by the company - (i) from the Central Government or any State Government or any local authority, or from any other source where the repayment of the amount is guaranteed by the Central Government or a State Government; (ii) from the Government of a foreign State, or from a citizen of a foreign State, or from any institution, association or body (whether incorporated or not) established outside India; (iii) as a loan from a banking company or from a co-operative society engaged in carrying on the business of banking (including a co-operative land mortgage bank or a co-operative land development bank); (iv) as a loan from any institution or body specified in the list in the Tenth Schedule or such other institution or body as the Central Government may, having regard to the nature and objects of the institution or body, by notification in the Official Gazette, specify in.....

Companies Act, 1956 Chapter 3

Title: Managing Agents

State: Central

Year: 1956

.....(Amendment) Act, 2000 (53 of 2000), sec. 159 (w.e.f. 13-12-2000). Section 344 - Managing agency not to be heritable after commencement of Act [Repealed] Rep. by the Companies (Amendment) Act, 2000 (53 of 2000), sec. 159 (w.e.f. 13-12-2000). Section 345 - Succession to managing agency by inheritance or devise under agreement before commencement of Act, to be subject to Central Government's approval [Repealed] Rep. by the Companies (Amendment) Act, 2000 (53 of 2000), sec. 159 (w.e.f. 13-12-2000). Section 346 to 347 - Changes in constitution of firms and corporations Section 346 - Changes in constitution of managing agency, firm or corporation to be approved by Central Government [Repealed] Rep. by the Companies (Amendment) Act, 2000 (53 of 2000), sec. 159 (w.e.f. 13-12-2000). Section 347 - Application of Schedule VIII to certain managing agents [Repealed] Rep. by the Companies (Amendment) Act, 2000 (53 of 2000), sec. 159 (w.e.f. 13-12-2000). Section 348 to 355 - Remuneration of managing agents Section 348 - Remuneration of managing agent ordinarily not to exceed 10 per cent. of net profits [Repealed] Rep. by the Companies (Amendment) Act, 2000 (53.....