companies bill 2011 analysis

claues 129 of the Companies bill 2011 which provides for financial statement. The significant of the clause is that explanation to the clause. 
Explanation.—For the purposes of this sub-section, the word “subsidiary” shall include
associate company and joint venture
The definition of subsidiary is widenend and you will not be in a position to escape. Moreover, for subsidairy, the balance sheet

companies bill 2011 analysis

Please note companies bill 2011 prohibits issue of debenture with voting rights. 
clause 71 sub clause 2 (2) No company shall issue any debentures carrying any voting rights.

companies bill 2011 analysis

For the purpose of buy back of shares as per clause 68 of companies bill sub clause 20 to the explanation Explanation II.—For the purposes of this section, “free reserves” includes securitiespremium account.
For the purpose of calculation of free reserves, we should take security premium account 

Please note that security premium includes shares or debentures or other securities 

The significant inclusion of securities premium accoun

companies bill 2011 analysis

As per Companies bill Registration of charges can be created within 300 days with additional fees 
Clause 77 of sub clasue 1 to proviso specifies the same.

Provided that the Registrar may, on an application by the company, allow such
registration to be made within a period of three hundred days of such creation on payment of such additional fees as may be prescribed

This is currently after 30 days within 60 days you have to file with additional fees.

This is significant welcome developement to reduce to file an application to Regional director condonation of delay. So we need to file an application after 300 days as per companies bill 2011

companies bill 2011 analysis

Normally quorum of public and private limitec company 5 and 2 as per Companies Act, 1956 but in companies bill it is very interesting and quorum is based on no of shareholders in the company. It is good improvement and it will lead to shareholder democracy The clause 103 sub clause 1 of companies bill provides the same
(a) in case of a public company,—
(i) five members personally present if the number of members as on the
date of meeting is not more than one thousand;
(ii) fifteen members personally present if the number of members as on the
date of meeting is more than one thousand but up to five thousand;
(iii) thirty members personally present if the number of members as on the
date of the meeting exceeds five thousand;
(b) in the case of a private company, two members personally present, shall be
the quorum for a meeting of the company

companies bill 2011 analysis

The new clause has been introduced in the companies bill electronic voting. It is welcome step as well as green initative of MCA The shareholders who is in kanayakumari can vote Reliance AGM by sitting at Kanyakumari and cast his vote at mumbai Reliance AGM ( This is an example)
108. The Central Government may prescribe the class or classes of companies and
manner in which a member may exercise his right to vote by the electronic means