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DEFINE SHARE WARRANT Meaning: A share warrant is a bearer document of title to shares and can be issued only by public limited companies and that to against fully paid up shares only. A share warrant cannot be issued by a private company, because the share warrant states that its bearer is entitled to a number of shares mentioned there in. It is a negotiable document and is easily transferable by mere delivery to another person. The holder of the share warrant is entitled to receive dividend as decided by the company. A share warrant is accompanied by attached coupons for the payment of future dividends. There are three parts of a share warrant: (1) The counter foil. (2) Share Warrant proper. (3) The dividend coupons. Conditions for the issue of a share warrant: (1) Only public limited companies: Share warrant can be issued by the public limited companies. It cannot be issued by private companies. (2) Against share certificate of fully paid up shares: A share warrant is only i

What is a Memorandum of Association The whole business of the company is built up according to Memorandum of Association. A company cannot undertake any business or activity not stated in the Memorandum. It can exercise only those powers which are clearly stated in the Memorandum. Definition of Memorandum of Association Lord Cairns: “The memorandum of association of a company is the charter and defines the limitation of the power of the company established under the Act”. Thus, a Memorandum of Association is a document which sets out the constitution of the company. It clearly displays the company’s relationship with outside world. It also defines the scope of its activities. MoA enables the shareholders, creditors and people who has dealing with the company in one form or another to know the range of activities. Contents of Memorandum of Association According to the Companies Act, the Memorandum of Association of a company must contain the following clause

Definition Of Joint Stock Company :- A joint stock company is an artificial person recognized by law with a distinctive name, a common seal a common capital comprising transferable carrying limited liability and having a perpetual succession. It is formed and controlled under the company ordinance of the state. It is a very popular form of organization. Features or Characteristics of Joint Stock Company  Following are the important feature of joint stock company : 1. Separate Legal Existence :- joint stock company has separated entity from its members. It can sue in a court of law in its own name. Every body knows only the name of the company and its address. No body knows about the share holders. 2. Long Life :- A joint stock company has a long life as compared to the other forms of business organization. If any share holder dies or withdraws his capital there is no affect on the continuity of company life. 3. Distribution of Profit :- The basic ai

Definition of a Company Secretary: A Company Secretary means “a person who is a member of the Institute of Company Secretaries of India” According to Section 2(45) of the Companies Act, 1956, “Secretary means any individual possess­ing the prescribed qualifications, appointed to per­form the duties which may be performed by a sec­retary under this Act and any other ministerial or administrative duties”. * Rights of the Company Secretary.. Rights of a Company Secretary are: 1. As the head of the secretarial department, the Secretary has the right to control, direct and supervise the activities of the department. 2. As the principal executive officer of the com­pany the Secretary has the right to sign documents which require authentication of the company. 3. The Secretary has the right to get remunera­tion from the Company. As an officer of the com­pany he has the right to claim two months’ salary as a preferential creditor at the time of winding-up of the company. 4.