23Oct 2018 by admin

Top 15 Privileges and Exemptions Enjoyed by a Private Company in India

Management
Since a private company does not involve funds from the public, it needs less stringent control from the regulatory provisions. Accordingly, certain provisions of the Companies Act which are applicable to public companies do not apply to private companies.These exemptions are referred as the privileges or advantages of a private company. These are: 1. Members: ADVERTISEMENTS: A private company can be formed with only 2 persons as members. 2. Prospectus: A private company need not issue prospectus. It is also not required to file a ‘statement in lieu of prospectus’ with the Registrar before allotment of shares. Thus a private company is exempted from complying with the provisions of the Act regarding the issue of the prospectus. Image Source: knitasia.com 3. Certificate of commencement of business: A private company can…
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23Oct 2018 by admin

8 Most Important Features of a Company (Indian Companies Act, 1956)

Business
Following are the broad features of a company: 1. Incorporated Association: Company is an incorporated association of persons created by the law of the country. In India companies are formed and registered under the Companies Act 1956. Incorporation of a company requires registration of formal documents with the Registrar of Companies.Memorandum of Association is the important document which contains the fundamental conditions and purposes for which a company is formed. In fact, a company does not have its existence beyond its memorandum of association. The other important document is the Articles of Association which lay down the rules and regulations for governance of the company. Image Source: myfirstchoicebusiness.com ADVERTISEMENTS: The ‘Registration Certificate’ or the ‘Certificate of Incorporation, grants a legal entity to a company enabling it to discharge functions such…
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23Oct 2018 by admin

Provision for “Annual General Meeting” of a Company Under the Indian Companies Act 1956

Management
(1) Meaning and Purpose: Annual General Meeting is a regular meeting of the members of a company which is held annually. This meeting provides an opportunity to the members of the company to review working of the company and express their views on the management of the company. Image Source: interqualityproject.euThe purpose of calling the meeting is to transact the ordinary business of the company. The ordinary business consists of: ADVERTISEMENTS: (a) The passing of the annual accounts,(b) Declaration of dividends,(c) Election of directors in place of those who are retiring by rotation,(d) Appointment and fixation of the remuneration of auditors of the company. (2) Statutory requirement: ADVERTISEMENTS: It is a statutory requirement on every company to call and hold an annual general meeting every year. The first annual general…
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23Oct 2018 by admin

6 Important Medico Legal Aspects in India Related to Safety of Patients in a Hospital

Management
Important Medico legal Aspects Related to Safety of Patients in a Hospital are given below: 1. Protection of Rights of Patients: In India, unlike in many other countries, the rights of the patients have not yet been spelt out in a legal form. Even the level of awareness among public as well as health care professionals is low.However, the fundamental rights enshrined in the constitution and certain laws enacted from time to time, have spelt out the obligations of the health care providers towards patients and have, indirectly, conferred certain rights on the patients. ADVERTISEMENTS: Learning from the world wide movement and the emphasis by the JCAHO/JCI (USA) on the Rights of Patients in their Accreditation Standards, National Accreditation Board for Hospitals and Health Care Providers (NABH) (India) have also,…
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23Oct 2018 by admin

5 Essential Requisites of Valid Call on Shares (Indian Companies Act, 1956)

Business
Demand made by a company towards the payment of value of shares in pursuance of resolution of the Board and the terms of the Articles is termed as call. However, money payable on application and allotment are not calls.Payment made by a shareholder by installments is not calls. A call can be made only after the minimum subscription is allotted and the company is entitled to commence business. Call may also be made by a liquidator in the course of the winding up. Articles usually provide the rules regarding making of calls and these are to be strictly followed.Section 36(2) of the Companies Act provides that all money payable by any member to the company under memorandum or articles shall be a debt due from him to the company. But…
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23Oct 2018 by admin

Useful Notes on Expulsion of a Member in a Company (Indian Companies Act, 1956)

Management
A company limited by guarantee such as a social club, professional, cultural, religious or other such associations may expel any member of the company in accordance with the regulations and provisions contained in the articles of association.Expulsion on the ground such as mis-conduct of the members is also possible. But the requisite in such case would be exercise of the power in the interest of the company as a whole not for a particular group of the members.In the case of companies having share capital any provision in the articles of the company on expulsion of a member would be against the principle of corporate democracy and in violation of sections 100-104. The Department of Company Affairs issued a clarification by a circular dated November 1, 1975 regarding company’s power…
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23Oct 2018 by admin

The Role of Security Service in Hospitals – Explained!

Management
Security service in a hospital is a service responsible for ensuring the security and safety of the hospital plant, personnel, patients and public as well as regulating the traffic within the hospital premises.A hospital is a busy public dealing place trying to provide care, comfort and cure to the patient. It is a place visited by thousands of people, every day. ADVERTISEMENTS: It is very difficult to identify any antisocial element in the crowd or foresee anyone’s intensions. As a result, unexpected undesirable situations like arguments, noisy scenes, accidents or thefts do keep happening in the hospitals.Although, safety and security is the responsibility of every staff member, the technical staff, being busy in patient care, have neither the time nor training in these matters. Patients, by and large, are incapable…
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23Oct 2018 by admin

8 Important Features of Globalisation – Explained!

Industry
The concept of Globalisation involves within its ambit the following features: 1. Liberalisation: It stands for the freedom of the entrepreneurs to establish any industry or trade or business venture, within their own countries or abroad. 2. Free trade: ADVERTISEMENTS: It stands for free flow of trade relations among all the nations. Each state grants MFN (most favoured nation) status to other states and keeps its business and trade away from excessive and hard regulatory and protective regimes. 3. Globalisation of Economic Activity: Economic activities are be governed both by the domestic market and also the world market. It stands for the process of integrating the domestic economies with world economy. Image Source: sociologydiscussion.com 4. Liberalisation of Import-Export System: It stands for liberating the import-export activity and securing a free…
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22Oct 2018 by admin

Essay on Management of Biomedical Waste in Hospitals

Management
Biomedical waste is defined as any waste generated during diagnosis, treatment or immunization of human beings or animals or in research activities pertaining thereto or in the production/testing of biological substances.Infectious waste (called clinical waste in European countries) means that portion of the waste, which could transmit an infectious disease (microbiological waste, sharps).Bio-Medical Waste has been classified in ten categories (as per schedule I) and depending upon the recommended mode of its final disposal, the color coding of bags and containers for segregation/collection of waste has been specified in Schedule II of the Rules. Image Source: thenational.net ADVERTISEMENTS: The waste generated in the hospitals, unless disposed off in the prescribed manner, can lead to not only unhygienic and unsanitary conditions, but can also be a serious health hazard to the…
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22Oct 2018 by admin

12 Important Safety Measures to Check Before Installation of Lifts in Hospitals

Management
Important Safety Rules that the Management in Hospitals must follow before Installation of Lifts are given below:1. Installation and operation of lifts/escalators must be in full compliance with the rules/ regulations applicable in the state.Under the provisions of Lifts Act and Delhi Lift Rules 1942, any passenger lift installed in any building except the buildings maintained by Public Works Department and MES, can be operated only after obtaining a valid license which is issued after confirming the safety of electrical installation of lift, its layout, safety mechanisms and safety gears, etc. as per the standards laid down in relevant Bureau of Indian Standards. The license to operate the lift must be renewed well in time in r/o each and every lift. Image Source: www.siagroup.com ADVERTISEMENTS: 2. Inspection of Lifts: The…
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