Secretarial Practice Explain the following term/concept in detail:

It is an invitation to the public by the Joint Stock Company to subscribe to the shares of the company.
Private company issues “Statement in lieu of Prospectus” in place of ‘framing its own-‘Prospectus’.

It means that a person has to act in good faith and trust which is put upon him by another person.
Eg. Promoters have fiduciary duties towards the company they are setting up. It means they have to act in a manner that protects and promotes the interest of the proposed company.

A company where members guarantee to contribute a certain amount of money either to the assets of the company, at the time of winding up of the company, or towards the cost of winding up of the company.

Registrar of Companies is an authority as per the Companies Act, which can incorporate companies.

Tax Deduction and Collection Account Number is issued by the Income Tax Department to all persons who are responsible for deducting or collecting tax. It is a 10 digit alphanumeric code.