The responsibility of a limited liability company with authorized fictitious capital: Evidence from the emerging market

2021 ◽  
Vol 3 (1) ◽  
pp. 43-52
Author(s):  
Yalid Yalid ◽  
Ryan Aditama ◽  
Sindi Sindi ◽  
Husni Tamrin ◽  
Iswandi Iswandi
Keyword(s):  
Emerging Market ◽  
Limited Liability ◽  
Empirical Approach ◽  
Limited Liability Company ◽  
Legal Research ◽  
Legal Entity ◽  
Fictitious Capital ◽  
Legal Consequences ◽  
Capital Payment ◽  
Authorized Capital

The phenomenon of law related to the capital subscribed and fully paid up company is limited liability companies in Indonesia, many of which are not real. The aim of this research is to answer the question: "What is the legality and legal consequences of an establishment with a fictitious authorized capital?". The research was conducted via the study of literature with this type of normative legal research supported by an empirical approach. The results of the research contribute to knowledge that the responsibility of a limited liability company with a capital payment basis is fictitious when the establishment does not essentially meet the validity of the establishment of the limited liability company itself, whether based on terms “materially” or “formally”. The terms formilnya (“formally”) depositing of the authorized capital must be issued and paid-up in full. Although the capital is fictitious or not real, if it has been approved by a legal entity, then it remains as a legitimate legal entity, but the substance of it is a limited liability company. Depositing the authorized capital which is not real contradicts the nature of the limited liability company as a legal entity

scholarly journals ANALISIS YURIDIS KEDUDUKAN SURAT PERNYATAAN SETOR MODAL SEBAGAI PENGGANTI BUKTI SETOR MODAL DALAM PENDIRIAN PERSEROAN TERBATAS DI INDONESIA

2021 ◽  
Vol 3 (01) ◽  
pp. 59-70
Author(s):  
Dewi Oktavia ◽  
Irene Svinarky
Keyword(s):  
Human Rights ◽  
Small And Medium Enterprises ◽  
Limited Liability ◽  
Limited Liability Company ◽  
Legal Research ◽  
Official Document ◽  
Legal Entity ◽  
Capital Injection ◽  
Medium Enterprises ◽  
Authorized Capital

Penelitian ini menjelaskan bahwa pada Pasal 32 Ayat (1) Undang-Undang Nomor 40 Tahun 2007 tentang Perseroan Terbatas disebutkan bahwa modal dasar pendirian Perseroan Terbatas paling sedikit berjumlah Rp50.000.000,. Namun jumlah tersebut menyulitkan bagi pelaku Usaha Mikro, Kecil, dan Menengah (UMKM), khususnya usaha mikro. Oleh karena itu, dalam Peraturan Menteri Hukum dan Hak Asasi Manusia Nomor 4 Tahun 2014 kemudian mempermudah pendirian Perseroan Terbatas dengan pendiri hanya membuat Surat Pernyataan Telah Menyetor Modal tanpa harus menyetorkan modalnya. Mengingat penyetoran modal pendirian Perseroan Terbatas merupakan kewajiban yang mutlak yang harus dipenuhi oleh siapapun yang telah menyetujui penempatan modalnya pada Perseroan Terbatas dalam suatu dokumen resmi, baik yang dilakukan sebelum maupun setelah Perseroan Terbatas berdiri dan memperoleh status sebagai badan hukum, maka ketiadaan penyetoran modal pada saat yang telah ditentukan dapat melahirkan perikatan utang-piutang antara Perseroan Terbatas sebagai kreditur dengan pemegang saham sebagai debitur. Metode yang digunakan dalam penelitian ini adalah penelitian hukum normatif. Abstract This research explain that Article 32 Paragraph (1) of Law Number 40 of 2007 concerning Limited Liability Companies states that the authorized capital for the establishment of a Limited Liability Company is at least IDR 50,000,000,. However this number makes it difficult for Micro, Small and Medium Enterprises (MSMEs), especially micro businesses. Therefore, in the Regulation of the Minister of Law and Human Rights Number 4 of 2014 then it makes it easier for the establishment of a Limited Liability Company with the founders only to make a Statement of Having Paid Capital without having to deposit their capital. Considering that the payment of capital for the establishment of a Limited Liability Company is an absolute obligation that must be fulfilled by anyone who has approved the placement of their capital in a Limited Liability Company in an official document, either before or after the Limited Liability Company has been established and obtained its status as a legal entity, there is no capital injection at the time. which has been determined can give birth to a debt-receivable agreement between the Limited Liability Company as a creditor and the shareholders as the debtor. . The method used in this research is normative legal research.

scholarly journals ANALISIS YURIDIS PENGAMBILALIHAN SAHAM PT PRIMA TOP BOGA OLEH PT NIPPON INDOSARI CORPINDO, TBK DARI PERPEKTIF UNDANG-UNDANG NOMOR 5 TAHUN 1999 (Studi Kasus Putusan Komisi Pengawas Persaingan Usaha Nomor: 07/KPPU-M/2018)

2019 ◽  
Vol 11 (2) ◽  
pp. 178
Author(s):  
Suradiyanto Suradiyanto ◽  
Dinny Wirawan Pratiwie
Keyword(s):  
Data Analysis ◽  
Limited Liability ◽  
Secondary Data ◽  
Third Parties ◽  
Limited Liability Company ◽  
Analysis Method ◽  
Legal Research ◽  
Library Research ◽  
The Status ◽  
Legal Consequences

The purpose of this study is to review and analyze the legal consequences of acquisitions made on limited liability companies; and based on theconsiderations used by KPPU to determine that PT Nippon Indosari Corpindo, Tbk. Has violated Law Number 5 of 1999 .This research is normative legal research. Secondary data collection in library research is done by studying documents. The data analysis method used in this study is descriptive and analyzed qualitatively.The results of this study are: (1) Acquisition or Acquisition of Limited Liability Companies can also provide legal consequences affecting the Limited Liability Company. The legal consequences referred to in the Limited Liability Company are the legal consequences both institutionally, namely shareholders, employees, and third parties, as well as the legal consequences of certain parties, especially to third parties or creditors from the acquired limited liability company. In practice that has happened so far, the status of creditors' receivables in a limited liability company that has been acquired is the responsibility of the new Shareholders ; and (2) In the reading of the decision it was also explained that the reported party had acquired / taken over shares of PT Prima Top Boga on January 24, 2018, amounting to 32,051 shares (issuance of new shares) taken over by adding capital worth Rp31,499,722,800 , 00 (thirty one billion four hundred ninety nine million seven hundred twenty thousand eight hundred rupiahs) by Pt Nippon Indosari Corpindo, Tbk. After a long process, through the Merger Directorate, it was conveyed that based on the calculation of calendar days, notices of the takeover of shares of the PT Prima Top Boga company should be notified to the Commission no later than March 23, 2018. However, the reported report took place on March 29, 2018. In accordance with PP No. 57 of 2010 that the reported party is obliged to notify the Commission of the acquisition of shares no later than 30 (thirty) working calendar days from the date the juridically effective Business Entity, Business Entity Consolidation or Takeover of Company Shares are effective.  

scholarly journals PERTANGGUNGJAWABAN PIDANA DIREKTUR PERSEROAN TERBATAS DALAM TINDAK PIDANA KORUPSI PROYEK TERBATAS PEMBANGUNAN RUMAH SAKIT (STUDI PUTUSAN NO.15 /PID.SUS-TPK/2018/PN.MDN)

2021 ◽  
Vol 2 (01) ◽  
pp. 103-132
Author(s):  
Marthin Simangungsong ◽  
Herlina Manullang ◽  
Tulus R.G Purba
Keyword(s):  
Criminal Responsibility ◽  
Criminal Liability ◽  
Limited Liability ◽  
Criminal Code ◽  
Development Project ◽  
Company Law ◽  
Limited Liability Company ◽  
Legal Research ◽  
Legal Entity ◽  
Project Study

The existence of corporations in the Criminal Code provisions that currently apply has not clearly stipulated corporations as perpetrators of crime because only Article 59 of the Criminal Code still regulates corporate provisions. However, the provisions of regulations outside the Criminal Code have clearly regulated the existence of corporations as legal subjects such as Law Number 40 of 2007 concerning Limited Liability Companies. Corporate criminal crime in its development has been widespread in people's lives, this can be done by the management of the corporation itself. The form of corporation in its development is in the form of legal entity and non-legal entity, one of which is a legal entity is a Limited Liability Company, in Article 82 of the Company Law Director is the management of the company, the Director represents the Limited Liability Company in and out of Article 82 of the Company Law. As for the problem in this research is how the criminal responsibility of the Director of a Limited Company in a criminal act of corruption in a hospital development project (study of decision number 15 / Pid.Sus-TPK / 2018 / PN.Mdn)The legal research method used in this study is a type of normative legal research that is research used by searching or analyzing and analyzing library materials, one of which is Decision No. 15 / Pid.Sus-TPK / 2018 / PN.Mdn. Then based on the results of research on Decision No. 15 / Pid.Sus-TPK / 2018 / PN.Mdn it can be concluded that based on the deeds and errors of the Director of PT. Care Indonusa has fulfilled the element of error, criminal liability requirements and found no excuses for excuses or justifications, so that criminal liability can be requested from the Director of a Limited Liability Company. Based on the above, the judge sentenced him to 5 (five) years in prison as a form of criminal liability to the Director of PT. Care Indonusa.

scholarly journals Roles and Responsibilities of Notary Under Transformation Business Institution from Commanditaire Vennootschap (CV) Become a Legal Entity Limited Liability Company (PT) (Study in Mataram City)

2021 ◽  
Vol 8 (7) ◽  
pp. 636
Author(s):  
Anita Fauziah ◽  
Muhammad Sood ◽  
Lalu Wira Pria Suhartana
Keyword(s):  
Limited Liability ◽  
Limited Liability Company ◽  
Process Change ◽  
Conceptual Approach ◽  
Legal Entity ◽  
Roles And Responsibilities ◽  
Sociological Approach ◽  
The Board Of Directors ◽  
Legal Consequences

This study aims to analyze the roles and responsibilities of a notary in the change of a CV business entity to a PT legal entity and the legal consequences of changing the CV business entity to a PT. This research is focused on Normative-Empirical research, using a statutory approach, a conceptual approach and a sociological approach. The results of this study, the role of the notary in changing the CV business entity to become a PT legal entity is to settle debt which is then used as a reference to determine the initial capital in PT. Make an announcement in the newspaper that the CV will be upgraded to a PT, the Notary submits an application to obtain a Ministerial decision regarding the legalization of a legal entity electronically and the Notary's responsibility in changing the CV business entity to a PT legal entity can be classified on the responsibility based on errors because the Notary is responsible for the process change from start to finish. Legal consequences that occur with changes. First, the change in status from a CV to a legal entity of PT. Second, the minimum paid-up capital. Third, unlimited responsibility. Fourth, if the CV in charge of managing the company and is personally responsible is a complementary partner. In the PT GMS, the Board of Directors and the Board of Commissioners. Fifth, related to ongoing engagements must still be completed by CV or PT and no transfer of engagement is carried out.

scholarly journals Perjanjian Kerjasama (Joint Venture) Penanaman Modal Asing dalam Usaha Perhotelan

2020 ◽  
Vol 1 (2) ◽  
pp. 346-351
Author(s):  
I Gusti Ngurah Rendra Suryana ◽  
I Nyoman Putu Budiartha ◽  
Ni Made Puspasutari Ujianti
Keyword(s):  
Research Method ◽  
Joint Venture ◽  
Limited Liability ◽  
Limited Liability Company ◽  
Legal Research ◽  
Legal Consequence ◽  
Hospitality Business ◽  
A Company ◽  
Open Nature ◽  
Legal Consequences

The formation of investment activities in a country varies greatly according to the open nature of the country and its people. Therefore, cooperation is created and established between the two parties is because of the desire to seek profit so that a group of people together create a company, either with parties from one country or across countries. This is what forms a joint venture agreement. Based on this background, this research was conducted with the aim of describing how the procedure for making a joint venture agreement in the hotel business and what the legal consequences are for the default of the joint venture agreement in the hotel business. This research was conducted using a normative legal research method. The results of this study indicated that the procedure for making a joint venture agreement in a hotel business must be in the form of a limited liability company and must have conditions in providing a hotel company and are required to apply for a principle license and a permanent business license subject to the investor coordinating body to submit reports on the investor's activities. In addition, the legal consequence of the joint venture agreement default in the hospitality business is that those who violate the agreement, the parties related to the agreement, will be subject to statutory sanctions related to the rules of the joint venture agreement as well as the regulations that they have agreed upon together.

scholarly journals CIVIL LEGAL NATURE OF RELATIONS BETWEEN LEGAL ENTITY AND ITS FOUNDERS

THE BULLETIN ◽  
2021 ◽  
Vol 389 (1) ◽  
pp. 284-289
Author(s):  
K.S. Zhylkichieva ◽  
A.A. Kalybaeva ◽  
G.Zh. Koshokova
Keyword(s):  
Limited Liability ◽  
Kyrgyz Republic ◽  
Limited Liability Company ◽  
Bank Account ◽  
Legal Entity ◽  
Legal Nature ◽  
Analysis And Synthesis ◽  
The Law ◽  
State Registration ◽  
Authorized Capital

The article analyzes using the normative and systematic methods, as well as analysis and synthesis, the content of the statements of Civil Code of the Kyrgyz Republic, the Law of the Kyrgyz Republic "On economic partnerships and companies" and the Law of the Kyrgyz Republic "On state registration of legal entities, branches (representative offices)" and the works of Kyrgyz and Russian legal scholars. Within the framework of this article, the features of civil-legal nature of relations between legal entity and its founders are considered on the example of such legal entity as Limited Liability Company. The result of the authors' research is the statement – legal address of organization is determined in the decision to create legal entity, and is also established in all of its constituent documents. The legislation only stipulates when legal address changes, legal entity must notify state authorities about it. The authors come to the conclusion such lacuna in the legislation of the Kyrgyz Republic contributes to violation of rights of creditors of legal entity, since if it fails to fulfill obligations, it is rather difficult to find location of legal entity or location of its property. According to the authors, it is necessary to provide for minimum amount of authorized capital of legal entity in the norms of legislation and establish this capital should be placed in special bank account. Such decision will allow, firstly, to guarantee availability of any compensation to creditors for obligations of legal entity, and secondly, it will somewhat reduce number of registered such entities.

scholarly journals Perbandingan pendirian dan sistem hukum perusahaan antar negara indonesia dan kamboja

2020 ◽  
Vol 4 (4) ◽  
Author(s):  
Mahardyan Trymario Saputro
Keyword(s):  
At Risk ◽  
Limited Liability ◽  
Legal Action ◽  
Limited Liability Company ◽  
Business World ◽  
Legal Entity ◽  
A Company ◽  
Business Person ◽  
Authorized Capital

With the existence of a company as a business entity in the business world between Indonesia and Cambodia, it makes the arrangement of company establishment an initial concern. In Indonesia, a Company is a legal entity that is a capital partnership, established based on an agreement, carrying out business activities with capital, established based on an agreement, conducting business activities with an authorized capital wholly divided into shares and complying with the requirements stipulated in this Law and its implementing regulations. A Cambodia limited liability company (LLC) is managed by officers and directors and is funded by capital provided by the shareholders. It can be as small as a single business person or as large as a business with many shareholders. Companies provide a framework for businesses to own property, sign contracts, and engage in legal action without putting the assets of their shareholders at risk.

scholarly journals Concepts And Features Of The Corporate Contract

2019 ◽  
pp. 121-134
Author(s):  
R.S. Lukashov
Keyword(s):  
Civil Law ◽  
Limited Liability ◽  
Limited Liability Company ◽  
Key Factors ◽  
Legal Entity ◽  
Legal Nature ◽  
The Subject ◽  
Definition Of ◽  
Contractual Structures

The article is devoted to the theoretical and legal analyses of the place of a corporate agreement in the system of civil contracts. The article identifies the key factors that justify a separate place of the corporate agreement among existing contractual structures of civil law. The article deals with scientific views on the concept and legal nature of the corporate agreement, outlines the subject of the corporate agreement, which is concluded between the participants of the legal entity of corporate type, as well as analyzed the latest legislation on the definition of the concept, subject and content of the corporate agreement, which is concluded between the members of the limited liability company.  

scholarly journals Authorized Failure: How is Company Status?

2020 ◽  
Vol 2 (2) ◽  
Author(s):  
Fiany Alifia Lasnita ◽  
Muhamad Adji Rahardian Utama
Keyword(s):  
Limited Liability ◽  
Limited Liability Company ◽  
Legal Entity ◽  
Company Limited ◽  
Proof Of Ownership ◽  
Personal Wealth ◽  
A Company ◽  
A Share

The sense of the limited liability company is a legal entity to be able to run a business that has a capital consisting of a share, which its owners have lots of stock. Because it is composed of capital over shares that can be traded, and changes to the ownership of the company can be done without the need for a dissolution of a company. Limited liability company is a business entity and the magnitude of the capital company which are poured in a basic budget. The wealth of the company separate from the personal wealth of the owners of the company so that it can have its own treasures. Each person can have more than one stock which can be a proof of ownership of a company. The owner of the stock itself has a limited liability, i.e. as much as their shares. In the establishment of limited liability company also required permission and also some important documents that should be owned by a limited liability company to be its foundation.

scholarly journals TANGGUNG JAWAB DIREKTUR PT PMA YANG TIDAK MENDAPATKAN PENGESAHAN SEBAGAI BADAN HUKUM DAN SUDAH MENJALANKAN USAHANYA BERDASARKAN PERATURAN PERUNDANG-UNDANGAN DI INDONESIA (STUDI KASUS PT.X DAN PT.Y)

2019 ◽  
Vol 1 (2) ◽  
pp. 620
Author(s):  
I Gede Putra Wijaya ◽  
Christine S.T. Kansil
Keyword(s):  
Limited Liability ◽  
Foreign Company ◽  
Foreign Investor ◽  
Limited Liability Company ◽  
Foreign Investors ◽  
Legal Entity ◽  
Legal Subject ◽  
Foreign Companies ◽  
Investment Law ◽  
A Company

Foreign investors who want to invest in Indonesia must obey the existing rules, namely the Investment Law No. 25 of 2007. The investment law stipulates that if foreign investors want to do business in Indonesia, the foreign investor must establish a company in the form of a legal entity, namely a limited liability company. Requirements for foreign companies can be said as legal entities that must go through the stages of establishing a company until the company ratified by the Ministry of Law and Human Rights. If a foreign company is not a legal entity, the foreign company is not legal and cannot be considered a legal subject in carrying out business activities in Indonesia. Regarding the liability of the foreign company that is to be borne by the private party not by the shareholders because the foreign company is not a legal entity. It is better if foreign investors want to carry out business activities in Indonesia that the business must be in the form of a legal entity in accordance with the investment law’s order to comply with the applicable rules and foreign investors can carry out their business activities properly.

Sign in / Sign up

Export Citation Format

Share Document