Do you know that

 

• Under Companies Act, even a company or LLP can be a subscriber, as it is a 'person'. 'Government of India' can be a 'subscriber'. However, a partnership firm or HUF cannot be a 'subscriber’.
• A shareholder is not a 'member' unless his name is entered in the register of members.
• Appointment of auditor is till conclusion of next AGM. Thus, his appointment as auditor continues till the adjourned meeting is concluded.
• DIN cannot be cancelled or deactivated resorting to Section 164(2) 
•  Amount receivable towards subscription money from the subscribers under section 10A of the Companies Act is not called as Share Application Money
• Delay in registration of charge can be condoned by applying through section 460 of the Companies Act
• Absence of quorum within half an hour of AGM scheduled time leads to automatic adjournment by operation of law  
• While the company is under winding up under the Companies Act, the suits are stayed by virtue of Section 279
• Neither the internal auditor nor the company are required to file internal audit report to ROC, but such audit report is subject to peer review (where applicable) & the statutory auditors have to comply with the Auditing Standards not only because of the Companies Act but also for the Chartered Accountants Act
•   Under Ind AS:

1. though there is no classification for extraordinary items but classification for exceptional items is permissible
2.  there is no classification of investments into long term investments and current investments
3. there is no need for discounting liabilities repayable on demand but  still 12 months ECL may be requires to be provided.
4.  leases have to be distinguished from licenses.
5. hedge accounting is not mandatory.
6. disaggregated revenue has to be disclosed.
7. reportable segments need evaluating operating segments as a prerequisite.
8. investment property requires disclosures about its fair value despite being measured and recognized at cost

• Stamp papers don’t have a validity of 6 months. As per section 54 of the Indian Stamp Act, 1899, an unused stamp paper which is not spoiled or rendered unfit for use and for which there is no immediate use, can be returned and refund obtained. Thus, this section doesn’t concern itself with validity of stamp paper but rather with the refund for unused stamp papers.  

  Employment Bond is not valid in India. Section 27 of Indian Contract Act says "Agreement in restraint of trade, void.—Every agreement by which any one is restrained from exercising a lawful profession, trade or business of any kind, is to that extent void.  The employment bond can only be valid to a certain extent. The company has the right to recover training & recruitment expenses from an employee if he resigns from his position before an agreed period of time. Only that part can be recovered from employee that too the company will have to give a proper bifurcation of the expenses and will have to prove it in court that they have genuinely incurred such expenses.Rest all the one-sided clauses, unreasonable amount of compensation & damages etc. nnot be recovered from an employee on the basis of employment bond in India