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Total Questions3

Section 73- Prohibition on acceptance of deposits from public.

No Record Found!!

Section 82- Company to report satisfaction of charge.

No Record Found!!

Section 135- Corporate Social Responsibility.

No Record Found!!

Total Questions510

Section 2 - Definitions

Answer

Section 2(41) of the Act mandates accounting year of the company should be financial year. Whether ROC can accord permission for m Read More
Section 2(41) of the Act mandates accounting year of the company should be financial year. Whether ROC can accord permission for modification of accounting year to a particular year for 18 months period? In that case, what is a procedure under the new act?CS.PR.RAMANATHAN,Arthos Breweries Ltd, Chennai

Views (1055)
Posted By: Pr.ramanathan 10 year(s) ago

Answer

Can a person who is not citizen of India hold equity shares in unlisted Public Company in India? Read More
Can a person who is not citizen of India hold equity shares in unlisted Public Company in India?

Views (1354)
Posted By: Sachin 9 year(s) ago

Answer

can foreign company set up LLP as a subsidiary in India Read More
can foreign company set up LLP as a subsidiary in India

Views (1535)
Posted By: Surya mallampally 8 year(s) ago

Answer

The definition of Listed Company was given as a Company which has any of its securities listed on any recognised stock exchange. Read More
The definition of Listed Company was given as a Company which has any of its securities listed on any recognised stock exchange. Company include a private company also, can a private company's shares be listed on stock exchange??? no, as far we are concerned, becoz of restriction on transferability of its shares, how do we interpret the definition of listed company as per 2(52) of the Companies Act, 2013.

Views (1546)
Posted By: Manoj kumar koyalkar 10 year(s) ago

Answer

Dear Members, I have a doubt with respect to financial year end of the company. As per section 2(41) of companies act, 2013, Read More
Dear Members, I have a doubt with respect to financial year end of the company. As per section 2(41) of companies act, 2013, financial year mean period ending on 31st March every year. And every company having a different financial year, shall within a period of 2 years (i.e., before 31st Mar, 2016) from the commencement of CA, 2013, align its financial year as per the provisions. Accordingly, a company (having its FY ending as on 31st December) intends to change its FY ending as 31st March. Thus, its FY will start form 1st Jan, 2016 to 31st Mar, 2017 and thereafter, from 1st April to 31st March every year. Whether a company can do so? Since, though the decision is taken to change its FY end before 31st Mar, 2016, the FY will end on 31st Mar, 2017 (after 31st Mar, 2016). Please advice.

Views (1349)
Posted By: Girish sanghavi 8 year(s) ago

Answer

The question is regarding definition of Related Party u/s 2(76). ABC Pvt Ltd is holding 33% shares in XYZ Pvt Ltd. Besides substan Read More
The question is regarding definition of Related Party u/s 2(76). ABC Pvt Ltd is holding 33% shares in XYZ Pvt Ltd. Besides substantial share holding, there are two common directors on the board of both these pvt companies. Therefore, (1) whether both these Pvt companies will fall under the Related Party definition as per sub-clause (iv) of Section 2(76) ? (2) As per the latest exemption notification, sub-clause (viii) of Section 2(76) will not be applicable to Pvt Companies for the purpose of Section 188. So, if both these pvt companies are exempted by virtue of sub-clause (viii) from Section 188, whether these pvt companies will continue to be exempted evenif they are covered by sub-clause (iv) of Section 2(76), which is not exempted for applicability of Section 188. In nutshell, whether sub-clause (iv) and Sub-Clause (viii) of Section 2(76) shall be applied separately while deciding applicability of Sec 188 to Pvt Companies or sub-clause (viii) supersede sub clause (iv) while deciding the applicability of section 188 to Pvt companies. Thank you in advance,

Views (1110)
Posted By: Dharmesh 9 year(s) ago

Answer

The Ministry of Corporate Affairs (“MCA”) notified on June 5, 2015 that certain provisions of the Companies Act, 2013 (“2013 Act”) Read More
The Ministry of Corporate Affairs (“MCA”) notified on June 5, 2015 that certain provisions of the Companies Act, 2013 (“2013 Act”) shall not apply to private limited companies The Notification provides that, in relation to a private company, the entities specified in Section 2(76)(viii) of the 2013 Act (i.e., the Group Companies) would not be considered related parties for the purposes of Section 188. Since the Notification does not exempt private companies from the applicability of Section 2(76)(iv) of the 2013 Act, if the directors or managers in one private company are directors or members in another private company, a transaction between the two such companies would be considered as a related party transaction despite the exemption granted from Section 2(76)(viii). Therefore, if the intent is to exempt private companies from related party transactions , then section 2(76)(iv) should be not be applicable to private companies.

Views (1542)
Posted By: Pooja sehgal mehtani 8 year(s) ago

Answer

? Does the word "Person" used in Sec. 2 (76) (vii) of the Companies Act, 2013 includes a "Body Corporate" as defined under the Com Read More
? Does the word "Person" used in Sec. 2 (76) (vii) of the Companies Act, 2013 includes a "Body Corporate" as defined under the Companies Act, 2013

Views (1423)
Posted By: Vivek vijay 10 year(s) ago

Answer

You are kindly requested to clarify that why in Point No. (i) of Section 2(51) i.e. in Definition of "Key Managerial Personnel" th Read More
You are kindly requested to clarify that why in Point No. (i) of Section 2(51) i.e. in Definition of "Key Managerial Personnel" the Chief Executive Officer or the Managing Director or the Manager are in option (by using or) and rest are numbered consecutively? Is it implies that if a Company is having any of the two positions among the Chief Executive Officer or the Managing Director or the Manager then only one of the two or three can be termed as Key Managerial Personnel? Kindly clarify.....

Views (1428)
Posted By: Dipika 10 year(s) ago

Answer

whether the noting of the promoters name in the first Board Meeting is essential or naming the same in Annual Return to be filed u Read More
whether the noting of the promoters name in the first Board Meeting is essential or naming the same in Annual Return to be filed under Section 92 will be sufficient.

Views (1538)
Posted By: Ghanshyam saraf 10 year(s) ago

Answer

relative Read More
relative

Views (1649)
Posted By: Jasvir walia 8 year(s) ago

Answer

Which is the last date to alien the financials year as per Companies Act 2013? Can Company close its financials as at 31 December Read More
Which is the last date to alien the financials year as per Companies Act 2013? Can Company close its financials as at 31 December 2015 without obtaining tribunal approval?

Views (1306)
Posted By: Rahul 8 year(s) ago

Answer

In case of definition of a subsidiary company what is the meaning of "Controls the composition of Board of Directors" To illustra Read More
In case of definition of a subsidiary company what is the meaning of "Controls the composition of Board of Directors" To illustrate with an example : A listed company has 10 Directors which includes 3 promoter Directors ,2 Non executive Directors and 5 Independent Directors. Out of the 3 promoter Directors one is MD/CEO of the company and another one is the executive chairman of the company and the third is a woman Director who is the spouse of the MD. If these 3 promoter Directors are the only Directors and hold majority shares in another company , does the later company become a subsidiary of the former listed company??

Views (1602)
Posted By: V. ramkumar 9 year(s) ago

Section 3- Formation of company.

Answer

when a proprietorship company is converted into private ltd company , how assets and liabilities are transferred to a private comp Read More
when a proprietorship company is converted into private ltd company , how assets and liabilities are transferred to a private company

Views (2003)
Posted By: Jagdish singh rathore 9 year(s) ago

Answer

Dear Sir, what will be position of old forms e-form 1A- eform 61after implementation of ad effective of all rules and act? Read More
Dear Sir, what will be position of old forms e-form 1A- eform 61after implementation of ad effective of all rules and act?

Views (1743)
Posted By: Himanshu 11 year(s) ago

Answer

Can an OPC have subsidiary Company? Read More
Can an OPC have subsidiary Company?

Views (3973)
Posted By: Akansha 10 year(s) ago

Answer

how to incorporate a private company which having two foreign & two indian director, Read More
how to incorporate a private company which having two foreign & two indian director,

Views (1561)
Posted By: Shiv kumar agarwal 8 year(s) ago

Section 4- Memorandum.

Answer

i am preparing board resolution for changing the name of company, which section no: reference should be given in resolution earlie Read More
i am preparing board resolution for changing the name of company, which section no: reference should be given in resolution earlier it was section 21 of companies Act, 1956

Views (1695)
Posted By: Deepak 10 year(s) ago

Section 5- Articles.

Answer

notice of egm for entrenchment (sec5) companies act 2013 Read More
notice of egm for entrenchment (sec5) companies act 2013

Views (1847)
Posted By: Pradeep arora 9 year(s) ago

Section 6- Act to override memorandum, articles, etc.

Answer

companies act 2013 provides for max no. of directors to 15. Act overrides articles. Then do we have to amend articles to increase Read More
companies act 2013 provides for max no. of directors to 15. Act overrides articles. Then do we have to amend articles to increase no of directors to 15.

Views (2181)
Posted By: Anil 10 year(s) ago

Answer

present AOA prescribe number of directors as 12. The new act has prescribed number of directors as 15. Considering the provision t Read More
present AOA prescribe number of directors as 12. The new act has prescribed number of directors as 15. Considering the provision that Act overrides Articles, then do we have to amend AOA to raise number of directors to 15?

Views (1486)
Posted By: Anil 10 year(s) ago

Section 8- Formation of companies with charitable objects, etc.

Answer

Does Section 8 Company required to Constitute the CSR committee? Read More
Does Section 8 Company required to Constitute the CSR committee?

Views (1381)
Posted By: Vivek vijay 10 year(s) ago

Answer

Is there any section of CA 2013 or relevant rules which are not applicable to an existing company registered under Sec 25 of CA 19 Read More
Is there any section of CA 2013 or relevant rules which are not applicable to an existing company registered under Sec 25 of CA 1956?

Views (1418)
Posted By: Latha 10 year(s) ago

Answer

whether body corporate i.e company may be subscriber to the sec 8 company ,please provide reference to any rules or guidelines Read More
whether body corporate i.e company may be subscriber to the sec 8 company ,please provide reference to any rules or guidelines

Views (1448)
Posted By: Purushottam lal agrawal 9 year(s) ago

Answer

Can a Section 8 Company adopt Table F as its Articles of Association? Read More
Can a Section 8 Company adopt Table F as its Articles of Association?

Views (1407)
Posted By: Girish sanghavi 9 year(s) ago

Answer

Can shareholders of section 8 company transfer their shares?? Read More
Can shareholders of section 8 company transfer their shares??

Views (1437)
Posted By: Sanket 8 year(s) ago

Answer

What is the Procedure for Alteration of AOA & MOA of section 8 company & how the approval of CG has to be taken? Read More
What is the Procedure for Alteration of AOA & MOA of section 8 company & how the approval of CG has to be taken?

Views (4149)
Posted By: Mahesh bawge 6 year(s) ago

Answer

Whether Section 8 Company can takeover the trust having same object ? Read More
Whether Section 8 Company can takeover the trust having same object ?

Views (1875)
Posted By: Barkha 6 year(s) ago

Answer

Whether Section 8 Company can takeover the trust having same object ? Read More
Whether Section 8 Company can takeover the trust having same object ?

Views (1970)
Posted By: Barkha 6 year(s) ago

Answer

Procedure for formation of Section 8 companies, Advantages and disadvantages of forming Section 8 company which earstwhile was fun Read More
Procedure for formation of Section 8 companies, Advantages and disadvantages of forming Section 8 company which earstwhile was functioning as "Trust"

Views (1515)
Posted By: T.madhusudhanan 10 year(s) ago

Answer

Can anyone provide me with MOA & AOA of section 8 company with object ofpromoting and incubating new entrepreneurs. Read More
Can anyone provide me with MOA & AOA of section 8 company with object ofpromoting and incubating new entrepreneurs.

Views (1606)
Posted By: Kamal 9 year(s) ago

Section 11- Commencement of business, etc. [Omitted]

Answer

When to submit Form No.- INC-10? What will be the procedure of submission? Is it mandatory to submit INC-10 of all companies alr Read More
When to submit Form No.- INC-10? What will be the procedure of submission? Is it mandatory to submit INC-10 of all companies already incorporated?

Views (1463)
Posted By: Manish sharma 10 year(s) ago

Section 12- Registered office of company.

Answer

Clarification on mentioning CIN as per Sec 12 of CA 13...Is this section apply on public and private companies only..? What about Read More
Clarification on mentioning CIN as per Sec 12 of CA 13...Is this section apply on public and private companies only..? What about the foreign companies having their registered office outside India and running their Liaison office or Branch office in India

Views (1367)
Posted By: Hem wadhawan 10 year(s) ago

Answer

An existing company registered under Sec 25 of the CA 1956 wishes to change its registered office from one state to another. The Read More
An existing company registered under Sec 25 of the CA 1956 wishes to change its registered office from one state to another. The number of members is more than 200. Is postal ballot mandatory in the given case?

Views (1427)
Posted By: Latha 10 year(s) ago

Answer

This is in continuation of my query regarding a company regd u/s 25 of CA 1956 with liability limited by guarantee and with no sha Read More
This is in continuation of my query regarding a company regd u/s 25 of CA 1956 with liability limited by guarantee and with no share capital. Rule 22 of Companies (Mgmt & admin) rules stipulate voting by postal ballot including electronic voting. It also states that the scrutiniser shall be available for ascertaining the requisite majority. So should the scrutiniser be available at the registered office to receive the postal ballots?. Can the selaed envlopes received at the registered office from members be provided to the scrutiniser (in selaed form) located at a place other than the registered office to enable him to ascertain the majority?

Views (1341)
Posted By: Latha 10 year(s) ago

Answer

Within how many days we should shift the registered office from one state to another after obtaining confirmation from RD? What is Read More
Within how many days we should shift the registered office from one state to another after obtaining confirmation from RD? What is the effective date after receiving the RD order in INC-22

Views (1647)
Posted By: Sandhya 9 year(s) ago

Section 13- Alteration of memorandum.

Answer

A PVT COMPANY ADD NEW BUSINESS IN MAIN OBJECT .REMARK BY ROC "as per new object either an undertaking is required or company shou Read More
A PVT COMPANY ADD NEW BUSINESS IN MAIN OBJECT .REMARK BY ROC "as per new object either an undertaking is required or company should be change its name according to new object Form 67 (Addendum) " WHAT IS UNDERTAKING

Views (1656)
Posted By: Reena 10 year(s) ago

Answer

A Company is incorporated in the erstwhile Companies Act of 1956. If this Co intend to increase the authorize Capital then whether Read More
A Company is incorporated in the erstwhile Companies Act of 1956. If this Co intend to increase the authorize Capital then whether it has to alter the MOA & AOA to align with the new Act, 2013 eg The Object Clause contains C) other Objects which are not there in the New Act of 2013

Views (1414)
Posted By: Prekshi gupta 10 year(s) ago

Answer

For shifting of registered office from one state to another do we have to file all the documents through INC 23 or file all the do Read More
For shifting of registered office from one state to another do we have to file all the documents through INC 23 or file all the documents along with INC 23 through GNL 1/2?

Views (2171)
Posted By: Neha mittal 10 year(s) ago

Answer

Whether GNL-1 and MGT-14 to be file Simultaneously to ROC for object change in Section 8 Company or Which form is required to fil Read More
Whether GNL-1 and MGT-14 to be file Simultaneously to ROC for object change in Section 8 Company or Which form is required to file first GNL-1 or MGT-14 ?

Views (1419)
Posted By: Arun rajabhau joshi 7 year(s) ago

Answer

Has the express provision(section 23(3) Companies Act, 1956) providing continutiy of rights and obligations in case of change in n Read More
Has the express provision(section 23(3) Companies Act, 1956) providing continutiy of rights and obligations in case of change in name been dropped in New Companies Act, 2013 Section 23(3) is brought out here for your ready reference"(3) The change of name shall not affect any rights or obligations of the company, or render defective any legal proceedings by or against it ; and any legal proceedings which might have been continued or commenced by or against the company by its former name may be continued by or against the company by its new name." what can be the implications if dropped.

Views (1442)
Posted By: Jay 10 year(s) ago

Answer

Sec 13 Clearly specifies that except as provided in sec 61 to alter MOA SR required. & Sec 61 provides A limited company having a Read More
Sec 13 Clearly specifies that except as provided in sec 61 to alter MOA SR required. & Sec 61 provides A limited company having a share capital may, if so authorised by its articles,alter its memorandum in its general meeting. It no where mentions for SR so majority will prevail for the purpose & there is no need of SR. Whether we require to pass special resolution for increasing Authorised share capital ?

Views (1362)
Posted By: Ankit agarwal 10 year(s) ago

Section 14- Alteration of articles.

Answer

Can a company replace its entire set of articles of association with a new set of Articles of association? Read More
Can a company replace its entire set of articles of association with a new set of Articles of association?

Views (1853)
Posted By: Manoj kumar koyalkar 9 year(s) ago

Answer

Does the alteration of articles of association of Sec 8 company (registered under Sec 25 of CA 1956) require permission of central Read More
Does the alteration of articles of association of Sec 8 company (registered under Sec 25 of CA 1956) require permission of central government before getting the same approved by members by way of special resolution?

Views (3787)
Posted By: Latha 9 year(s) ago

Answer

If a Company reclassifies its Capital clause, does it have to adopt an entire new set of Articles as per CA2013? Also in this case Read More
If a Company reclassifies its Capital clause, does it have to adopt an entire new set of Articles as per CA2013? Also in this case is Form SH7 required to be filed? Thanks Amruta

Views (1823)
Posted By: Amruta tendulkar 9 year(s) ago

Answer

For conversion of public limited company to private limited company it is required to obtain Tribunal order. But since tribunal is Read More
For conversion of public limited company to private limited company it is required to obtain Tribunal order. But since tribunal is not yet notified / formed what is the option ? Do we need to apply to CLB ?

Views (1374)
Posted By: Sandhya 10 year(s) ago

Answer

Is it required to have separate resolutions passed in respect of amendment of each regulation wherein there is adoption of entirel Read More
Is it required to have separate resolutions passed in respect of amendment of each regulation wherein there is adoption of entirely new set of regulations in the articles of association of a Company or it will be sufficient if a single resolution is passed to adopt the entire new set of regulations?

Views (2537)
Posted By: Manoj kumar koyalkar 9 year(s) ago

Answer

Is it required to have separate resolutions passed in respect of amendment of each regulation wherein there is adoption of entirel Read More
Is it required to have separate resolutions passed in respect of amendment of each regulation wherein there is adoption of entirely new set of regulations in the articles of association of a Company or it will be sufficient if a single resolution is passed to adopt the entire new set of regulations?

Views (2742)
Posted By: Manoj kumar koyalkar 9 year(s) ago

Answer

Point No 6 (Particulars of the order of Tribunal) of INC-27 is coming to be mandatory field for conversion of Public Company into Read More
Point No 6 (Particulars of the order of Tribunal) of INC-27 is coming to be mandatory field for conversion of Public Company into Private Company. but provision to which this point relates in not notified. what can be the possible remedy?

Views (1276)
Posted By: Abhinaya 10 year(s) ago

Section 18- Conversion of companies already registered.

Answer

While converting a Public Limited Company to Private Limited Company, Form MGT-14 was filed and the same was approved by the ROC. Read More
While converting a Public Limited Company to Private Limited Company, Form MGT-14 was filed and the same was approved by the ROC. While Filing Form INC-27 it requires date of order of tribunal, how the same can be obtained ?

Views (1854)
Posted By: Shweta agrawal 10 year(s) ago

Answer

can a company limited by shares be converted into company limited by guarantee? Read More
can a company limited by shares be converted into company limited by guarantee?

Views (1192)
Posted By: Ankita 7 year(s) ago

Section 20- Service of documents.

Answer

As per Section 20 of Co.Act,2013, Fee for serving the documents on members by any particular mode may be determined by the Company Read More
As per Section 20 of Co.Act,2013, Fee for serving the documents on members by any particular mode may be determined by the Company in its Annual General Meeting. My question is:- is there any limit or restriction for determination of amount to be paid by member ?

Views (2195)
Posted By: Ravi 8 year(s) ago

Section 21- Authentication of documents, proceedings and contracts.

Answer

AS per section 21, any document can be signed by KMP or "officer" authorised by Board. Further a defination was also given for "of Read More
AS per section 21, any document can be signed by KMP or "officer" authorised by Board. Further a defination was also given for "officer" which is inclusive in nature. Can it meant that a documents will not be signed by any employee who is authrorised by Board..

Views (1406)
Posted By: Mohit seth 10 year(s) ago

Section 25- Document containing offer of securities for sale to be deemed prospectus.

Answer

what are the changes to be incorporated while preparing MOA and AOA of Section 25 companies with reference to Companies Act 2013 Read More
what are the changes to be incorporated while preparing MOA and AOA of Section 25 companies with reference to Companies Act 2013

Views (1404)
Posted By: Vivek vijay 11 year(s) ago

Section 28- Offer of sale of shares by certain members of a company.

Answer

If a member of the board offers to sale his shares to other members, can the board ask such member to resign from the board before Read More
If a member of the board offers to sale his shares to other members, can the board ask such member to resign from the board before valuation of shares is done?

Views (1567)
Posted By: Milind 9 year(s) ago

Section 46- Certificate of shares.

Answer

Is there any obligation to convert Share Certificates in accordance with the format given under companies Act, 2013 and rules fram Read More
Is there any obligation to convert Share Certificates in accordance with the format given under companies Act, 2013 and rules framed thereunder?

Views (1531)
Posted By: Vivek vijay 10 year(s) ago

Section 52- Application of premiums received on issue of shares.

Answer

Need a circular no. 3/77 dated 15.04.1977. In the circular tab it cannot be open. Kindly share it. Read More
Need a circular no. 3/77 dated 15.04.1977. In the circular tab it cannot be open. Kindly share it.

Views (2181)
Posted By: Rohit 5 year(s) ago

Section 55- Issue and redemption of preference share.

Answer

please help me preparing the scheme for issuing preference shares Read More
please help me preparing the scheme for issuing preference shares

Views (1018)
Posted By: Shubham 8 year(s) ago

Section 56- Transfer and transmission of securities.

Answer

Whether shares can be transferred in the name of HUF? Read More
Whether shares can be transferred in the name of HUF?

Views (5816)
Posted By: Sachin 8 year(s) ago

Answer

whether new share transfer form requires endorsement like the earlier share transfer forms viz," presented this day of with date m Read More
whether new share transfer form requires endorsement like the earlier share transfer forms viz," presented this day of with date mentioned therein".from ROC, Income tax commossioner etc.

Views (1295)
Posted By: Anil 10 year(s) ago

Answer

Can the new share transfer format be used directly by taking a print out and execute transfer of shares? Read More
Can the new share transfer format be used directly by taking a print out and execute transfer of shares?

Views (1580)
Posted By: Anil 10 year(s) ago

Answer

Sec 93 stipulates filing of prescribed return to ROC within 15 dats in case of transfer of shares of promoters or change in top 10 Read More
Sec 93 stipulates filing of prescribed return to ROC within 15 dats in case of transfer of shares of promoters or change in top 10 shareholders. I presume that in case of transfer of shares of unlisted public companies and private limited companies there is no need to file any return to ROC. Please confirm the same.

Views (1498)
Posted By: Latha 10 year(s) ago

Answer

Do we need to file any form to ROC on transfer of any share from one shareholder to another shareholder Read More
Do we need to file any form to ROC on transfer of any share from one shareholder to another shareholder

Views (1419)
Posted By: Deepak gulati 10 year(s) ago

Answer

If a resident transfer his shares in favour of a NRI/PIO and the later pays the amount from his NRO A/c do we still require to fil Read More
If a resident transfer his shares in favour of a NRI/PIO and the later pays the amount from his NRO A/c do we still require to file Form FC-TRS with the AD Bank. Further can they tranfer the shares at any price or it can be done on valuation price only.

Views (1886)
Posted By: Anita 10 year(s) ago

Answer

• Whether mistake (in signature) can be rectified in transfer deed. Transfer deed is of year 1992. And whether re -validation can Read More
• Whether mistake (in signature) can be rectified in transfer deed. Transfer deed is of year 1992. And whether re -validation can be done according to companies act,2013.

Views (3028)
Posted By: Akansha 10 year(s) ago

Answer

On death of a shareholder, his brother being the sole legal heir demands for transfer of shares in his name. What is the procedure Read More
On death of a shareholder, his brother being the sole legal heir demands for transfer of shares in his name. What is the procedure and documents that are required to be produced??

Views (1408)
Posted By: Akjain 9 year(s) ago

Answer

Whether there is any form to be filed to the ROC for transfer of shares in a private limited Company. Also wish to know whether Read More
Whether there is any form to be filed to the ROC for transfer of shares in a private limited Company. Also wish to know whether the stamping of the transfer deed is possible to be done online through MCA

Views (1613)
Posted By: Sanjay 9 year(s) ago

Answer

Whether shares can be transferred in the name of HUF? Read More
Whether shares can be transferred in the name of HUF?

Views (1471)
Posted By: Sachin 8 year(s) ago

Answer

In view dematerialization of equity shares of unlisted public companies, what is the process for transfer of shares from resident Read More
In view dematerialization of equity shares of unlisted public companies, what is the process for transfer of shares from resident Indian to NRI?

Views (1897)
Posted By: Sachin 5 year(s) ago

Section 61- Power of limited company to alter its share capital.

Answer

Whether Form INC-28 is required for the purpose of filing form for increase in Authorized Capital in the year 2010? Read More
Whether Form INC-28 is required for the purpose of filing form for increase in Authorized Capital in the year 2010?

Views (8129)
Posted By: Vishal arora 10 year(s) ago

Answer

In case of increasing of Authorised Share Capital by Unlisted company - Is required to pass Ordinary resolution or Special resolut Read More
In case of increasing of Authorised Share Capital by Unlisted company - Is required to pass Ordinary resolution or Special resolution for shareholders approval? Please clarify. Also clarify How to calculate fees for increased capital? Form SH -7 is not given in the List of your Fees Calculator. Please update List of Your FEES CALCULATOR.

Views (1562)
Posted By: Sunil kumar agrawal 9 year(s) ago

Section 62- Further issue of share capital.

Answer

Allotment of shares to a selected group of individual will amount to preferential allotment or not and what provisions would be ap Read More
Allotment of shares to a selected group of individual will amount to preferential allotment or not and what provisions would be applicable

Views (1778)
Posted By: Vivek vijay 10 year(s) ago

Answer

Could you pls confirm that in case of rights issue u/s 62(1)(a) of Companies Act,2013, approval of shareholders is not required an Read More
Could you pls confirm that in case of rights issue u/s 62(1)(a) of Companies Act,2013, approval of shareholders is not required and allotment by way of board resolution is a sufficient compliance under the said section?

Views (1979)
Posted By: Kanika gupta 10 year(s) ago

Answer

If a Private Limited Company proposes to issue further shares to persons other than its existing members or partly to existing mem Read More
If a Private Limited Company proposes to issue further shares to persons other than its existing members or partly to existing members or partly to other on preferential basis u/s. 62(1)© of Co. Act, 2013, then should company need to comply the provisions of section 42 read with rule 14 of Companies (Prospectus and Allotment of Securities)Rules, 2014 ? Because as per definition of Private Company u/s. 2(68)(3) prohibits any invitation to the public to subscribe for any securities of the company.

Views (2166)
Posted By: Vasant patel 9 year(s) ago

Answer

Can Producer Company Allot the shares more than 200 Members ? Read More
Can Producer Company Allot the shares more than 200 Members ?

Views (1914)
Posted By: Satish kshirsagar 9 year(s) ago

Answer

Is shares Valuation Report required in Case of Right Issue of Shares? Read More
Is shares Valuation Report required in Case of Right Issue of Shares?

Views (11911)
Posted By: Rohit 8 year(s) ago

Answer

While Conversion of Loan into equity do we need to check or comply any other subsection of Section 62 of companies Act 2013 Read More
While Conversion of Loan into equity do we need to check or comply any other subsection of Section 62 of companies Act 2013

Views (1437)
Posted By: Amardeepduggal 7 year(s) ago

Answer

What is the procedure for preferential basis allotment of equity shares ? Read More
What is the procedure for preferential basis allotment of equity shares ?

Views (2513)
Posted By: Arun rajabhau joshi 8 year(s) ago

Answer

What is the procedure for preferential basis allotment of equity shares in private limited company ? Read More
What is the procedure for preferential basis allotment of equity shares in private limited company ?

Views (4099)
Posted By: Arun rajabhau joshi 8 year(s) ago

Answer

Can we convert unsecured loan to equity under new companies act 2013 i.e under section 62(3) and if yes then do we need to follow Read More
Can we convert unsecured loan to equity under new companies act 2013 i.e under section 62(3) and if yes then do we need to follow section 42 if yes why ???????

Views (1698)
Posted By: Amruta 9 year(s) ago

Answer

Can private Limited and Unlisted Public Company can convert unsecured loan taken from shareholders and person other than sharehold Read More
Can private Limited and Unlisted Public Company can convert unsecured loan taken from shareholders and person other than shareholders into Equity Shares by issue of further shares under provisions of section 62 (1)(c )of companies ct, 2013 and If yes then company need to comply with the provisions of section 42 of Co. act 2013 for issue of shares to creditors of unsecured loans ?

Views (2117)
Posted By: Vasant patel 9 year(s) ago

Answer

If company propose to issue shares of private placement /preferential basis then that case company need to comply with provisions Read More
If company propose to issue shares of private placement /preferential basis then that case company need to comply with provisions the provisions of both section 42 and 62 of companies act, 2013, in that case : 1) is it compulsory to issue shares at premium ? 2) is it compulsory to obtain valuation certificate if company is existing company want to issue shares at par ? 3) In case of new company, can company issue shares at par and in that case valuation certificate is compulsory ? 4) In new company suppose valuation certificate obtained ant value comes Rs. 8/- per share than it is compulsory for the company to issue shares at discount ?

Views (2378)
Posted By: Vasant patel 10 year(s) ago

Answer

Dear Members Would request you all to please opine on the following: Rights issue is governed by Section 62 (1)(a) of the CA Read More
Dear Members Would request you all to please opine on the following: Rights issue is governed by Section 62 (1)(a) of the CA 2013. Rules don't talk much about the rights issue. For preferential allotment u/s 62 (1)(c), rules states that it needs to follow the compliances of Section 42 but not for rights issue So can it be construed that for rights issue, section 42 is not applicable and accordingly there is no need to open separate bank account for the same and also there are no restrictions on utilization of Share Application money and it can be used for any purpose even before allotment? Also can an allotment (not issue) be made through resolution by circulation. Please advice

Views (1484)
Posted By: Khushboo 9 year(s) ago

Answer

In case of rights issue, are companies free to fix the price without requiring any valuation report? In a right issue of compulsor Read More
In case of rights issue, are companies free to fix the price without requiring any valuation report? In a right issue of compulsorily convertible debentures by a closely held public company, can we fix a price band now at the time of issue of the Debentures with the actual conversion price being decided at the time of conversion of the debentures to equity?

Views (1946)
Posted By: Arun kumar 10 year(s) ago

Answer

Whether a clause on exit mechanism provided in ESOP scheme of an unlisted company will continue to hold good under the new Compani Read More
Whether a clause on exit mechanism provided in ESOP scheme of an unlisted company will continue to hold good under the new Companies Act, 2013

Views (1486)
Posted By: Ankit singhi 10 year(s) ago

Answer

Where in the ESOS Scheme of an unlisted Public limited Company, the vesting and exercise of stock options have been linked to the Read More
Where in the ESOS Scheme of an unlisted Public limited Company, the vesting and exercise of stock options have been linked to the date of a liquidity event (eg. IPO, Divestment) and the proposed date or event is not defined. Whether such clause in the ESOS Scheme will continue to hold in light of the provisions of the Companies Act, 2013, considering that till date ESOS of unlisted companies are not governed under the Companies Act, 1956. In such case, whether any cause of action rest with the employee?

Views (1486)
Posted By: Ankit singhi 10 year(s) ago

Answer

Incase of issue of stock options to Non-resident Indian, whether any compliance other than FEMA is required. Like registration in Read More
Incase of issue of stock options to Non-resident Indian, whether any compliance other than FEMA is required. Like registration in US, for issuing stock options to US employees.

Views (1260)
Posted By: Ankit singhi 10 year(s) ago

Answer

In relation to preferential allotment of shares (Sec 62), is it necessary to: (i) issue letter of offer and file the same with ROC Read More
In relation to preferential allotment of shares (Sec 62), is it necessary to: (i) issue letter of offer and file the same with ROC (which is stated in Sec 42, but nowhere it is mentioned in Sec 62); (ii) complete allotment of pending share application money (outstanding as 31,03,2014) before making preferential allotment of shares (Sec 62 does not ask for the same) Here, I am not talking about private placement (Sec 42), but preferential allotment (Sec 62).

Views (1460)
Posted By: Dharmesh bohra 10 year(s) ago

Answer

My Question is whether Pvt. Ltd. Company needs to comply with the provisions of section 42 and rules 14 of Companies (Prospectus a Read More
My Question is whether Pvt. Ltd. Company needs to comply with the provisions of section 42 and rules 14 of Companies (Prospectus and Allotment of Securities) Rules, 2014 in case of issue of shares by that company to person other than its existing members on preferential basis u/s. 62(1) (c) ? because definition of Private Company u/s. 2(68)(3) provide for prohibition any invitation to the public to subscribe for any securities of the company. Please clarify the same-

Views (1929)
Posted By: Vasant patel 9 year(s) ago

Answer

A private company offered 120000 shares to its existing shareholders by way of right issue. The shareholders opted for subscribing Read More
A private company offered 120000 shares to its existing shareholders by way of right issue. The shareholders opted for subscribing only 100000 shares. Can the Company proceed with the allotment of 100000 shares.

Views (1445)
Posted By: Prerna kapoor 9 year(s) ago

Answer

What is the procedure for preferential basis allotment of equity shares ? i Read More
What is the procedure for preferential basis allotment of equity shares ? i

Views (2492)
Posted By: Arun rajabhau joshi 8 year(s) ago

Answer

There is a Holding Company “H” and there is its wholly owned subsidiary “S”. “H” has nominated “N” to hold one share on its behalf Read More
There is a Holding Company “H” and there is its wholly owned subsidiary “S”. “H” has nominated “N” to hold one share on its behalf to maintain the requirement of minimum number of shareholders in “S”. Now, “S” wants to come up with a Right Issue. The question is whether the said Right offer should be sent to both H and N (as both are registered shareholders as per ROM) or only to H (as practically, H owns entire equity shareholding). Please also let me know if Department has issued any clarification in this regard.

Views (1555)
Posted By: Hardam singh 6 year(s) ago

Section 66- Reduction of Share Capital

Answer

Reduction of Share Capital Under Section 66 (1) (b) (ii) of Companies Act, 2013 i.e. Reduction of paid up share capital which is i Read More
Reduction of Share Capital Under Section 66 (1) (b) (ii) of Companies Act, 2013 i.e. Reduction of paid up share capital which is in excess of wants of the Company and repayment of the surplus funds and other reserves available. Please provide the scheme of reduction of capital either old or new act relating this situation.

Views (1089)
Posted By: Arun rajabhau joshi 7 year(s) ago

Section 68- Power of company to purchase its own securities.

Answer

Can a pvt unlisted company which is not doing any business for last 5 yrs go for a buy-back to reduce share capital of Rs. 2,00,0 Read More
Can a pvt unlisted company which is not doing any business for last 5 yrs go for a buy-back to reduce share capital of Rs. 2,00,00.

Views (1578)
Posted By: Meenu 10 year(s) ago

Answer

A Limited has purchased 16% of equity shares in FY 2016-17. Can it purchase 9 % of equity shares shares in FY 2017-18. Read More
A Limited has purchased 16% of equity shares in FY 2016-17. Can it purchase 9 % of equity shares shares in FY 2017-18.

Views (1680)
Posted By: Ravinder 5 year(s) ago

Section 71- Debentures.

Answer

Dear Sir/Madam, My query is as follow: One of my Company have issued Non-convertible Debentures in year 2014 for the term of Read More
Dear Sir/Madam, My query is as follow: One of my Company have issued Non-convertible Debentures in year 2014 for the term of 5 years. Now they wish to convert those debentures into equity, but as the debentures are non-convertible debentures can they be 1st converted into optionally convertible debentures and thereafter to equity. Is this possible do so? if yes, which of the provision under Companies Act, 2013 speak about the same. (Specially conversion related to non-convertible debentures to optionally convertible debentures) Thanks in advance, Nikita Bhandari

Views (1473)
Posted By: Nikita 8 year(s) ago

Answer

can a subsidiary company subscribe to debentures of its holding company? Read More
can a subsidiary company subscribe to debentures of its holding company?

Views (2681)
Posted By: Khushboo khatreja 5 year(s) ago

Answer

is it mandatory to open a bank account at the time of issue of unsecured debentures? Read More
is it mandatory to open a bank account at the time of issue of unsecured debentures?

Views (1579)
Posted By: Neha sapra 9 year(s) ago

Answer

A Limited un-listed company issued CCD with an option to convert it into equity shares. Now due to some mutual management decision Read More
A Limited un-listed company issued CCD with an option to convert it into equity shares. Now due to some mutual management decision, company do not want to convert it into equity shares. what are the other options so that the investor can exit.

Views (1147)
Posted By: Purva arora 8 year(s) ago

Section 73- Prohibition on acceptance of deposits from public.

Answer

Company is continuously receiving prosecution notices from directors and shareholders from whom it has received share application Read More
Company is continuously receiving prosecution notices from directors and shareholders from whom it has received share application money against allotment of shares and the figure of such money is appearing on the Balance for the year 2013, Is it a case of violation under section 74(1) and (3)?

Views (1490)
Posted By: Akansha 10 year(s) ago

Answer

If Private company and unlisted public limited company want to accept deposit from shareholders only then 1) is it compulsory to o Read More
If Private company and unlisted public limited company want to accept deposit from shareholders only then 1) is it compulsory to obtained credit rating ? 2) Is it compulsory to publish circular in two news papers before issuing the same to members ?

Views (2501)
Posted By: Vasant patel 10 year(s) ago

Answer

In terms of Section 73 of Companies Act, 2013 read with Rule 2(1)(c)(vii) of Companies (Terms and conditions of acceptance of De Read More
In terms of Section 73 of Companies Act, 2013 read with Rule 2(1)(c)(vii) of Companies (Terms and conditions of acceptance of Deposit) Rules, 2014, deposits do not include receipt of money from Director of the Company, but money received from a member is treated as deposit. In case deposit is taken from a person who is both a director and a member of the Company, will such receipt of money be treated as deposit or not?

Views (1503)
Posted By: Unnikrishnan p s 10 year(s) ago

Answer

Can non-eligible Company whether Private Limited Company and unlisted Public limited Company can accept or renew deposit from memb Read More
Can non-eligible Company whether Private Limited Company and unlisted Public limited Company can accept or renew deposit from members without : 01. Obtaining Credit Rating 02 Without Publishing circular or advertisement in English and Varncular lanauge in english and vernacular News Papers.

Views (1835)
Posted By: Vasant patel 10 year(s) ago

Answer

Hi, Section 73 read with the relevant rule prohibits loans taken from persons other that directors and body corporate subject to c Read More
Hi, Section 73 read with the relevant rule prohibits loans taken from persons other that directors and body corporate subject to certain exceptions. In this regard, my querry is whether the LLP's are included withing the meaning of body corporate u/s 2(11) and on that basis whether the loans taken from LLP is permissible under the CA 2013? Thanks

Views (1347)
Posted By: Rishav saraf 9 year(s) ago

Answer

Sir In Form DPT-1 the company has to furnish detail about financial position of the company including Audited Cash Flow Statement Read More
Sir In Form DPT-1 the company has to furnish detail about financial position of the company including Audited Cash Flow Statement for the three years immediately preceding the date of issue of circular or advertisement. My question is that in private limited and unlisted public limited company, auditors has not prepared audited cash Flow statement for last three years as it was not applicable at that time. Then is it mandatory for those companies to furnish the audited cash Flow statement for the three years immediately preceding the date of issue of circular or advertisement in form DPT-1 ?

Views (1960)
Posted By: Vasant patel 9 year(s) ago

Answer

1. In Form DPT-1 being Circular or circular in form of advertisement for inviting deposit, in sub-para No. d in para 4. i.e. Finan Read More
1. In Form DPT-1 being Circular or circular in form of advertisement for inviting deposit, in sub-para No. d in para 4. i.e. Financial Position of the company it is stated that Audited Cash Flow statement for the last three years immediately preceding the date of issue of circular or advertisement. My questions is in some of Company auditors has not prepared audited cash flow statement for those last three years or any of one year out of those last three years as it was not applicable to the company including private company as per Accounting standard, so let me know it is compulsory to provide audited cash flow statement for last three years in form DPT-1 even though it was not applicable in those last three years ?

Views (2092)
Posted By: Vasant patel 9 year(s) ago

Answer

CAN A PRIVATE COMPANY RECEIVE DEPOSIT FROM ITS SHAREHOLDER? IS YES WHAT ARE CONDITION TO BE COMPLIED WITH? Read More
CAN A PRIVATE COMPANY RECEIVE DEPOSIT FROM ITS SHAREHOLDER? IS YES WHAT ARE CONDITION TO BE COMPLIED WITH?

Views (2292)
Posted By: Amarnath jha 9 year(s) ago

Answer

Optionally Convertible Unsecured Debentures are being issued by a Company to another Company. Do we need follow the Deposit Rules Read More
Optionally Convertible Unsecured Debentures are being issued by a Company to another Company. Do we need follow the Deposit Rules, though it is from one company to another company and its not optionally convertible. Request your view at the earliest possible.

Views (1608)
Posted By: Sandhya 9 year(s) ago

Answer

If a Company accepts advances against supply of goods on 15-05-2014 i.e after commencement of new Companies Act which not appro Read More
If a Company accepts advances against supply of goods on 15-05-2014 i.e after commencement of new Companies Act which not appropriated against supply of goods for the reasons of request of refund of amount by the customer due to change of mind. It is not the case of amount become refundable for the reason of not having permission or approval to deal in the goods. In such a case ,if the company refunds the amount within 365 days with interest ,whether it will be contravention of Sec 73-76 of the Act.

Views (1513)
Posted By: Ca vinod goyal 9 year(s) ago

Answer

Dear All, Please advise 1) As per notifciation dated 5 june2015 , private company can take loan from its shareholder. Can Read More
Dear All, Please advise 1) As per notifciation dated 5 june2015 , private company can take loan from its shareholder. Can the approval for the same be taken in board meeting or in general meeting? 2) As per Notification no.G.S.R.464(E) dated 05/06/2015, clauses (a) to (e) of subsection (2) of section 73 shall not apply to a Private Company which accepts from its Members monies not exceeding 100% of aggregate of the paid up share capital and free reserves. As per sub-rule 3 of Rule 3 of Companies (Acceptance of Deposits) Rules, no Company referred to in sec 73(2) shall accept or renew any deposit from its Members, if the amount of such deposits together with the deposits outstanding as on date of acceptance of such deposits exceeds 25% of aggregate of paid-up share capital and free reserves of the company. So what is the maximum amount of Loan that can be accepted by a Pvt.Ltd.Company from its Members? Is it 25% or 100% of paid-up capital & free reserves? 3) what are the formalities to be complied? form no to be filed with roc etc? 4) if company is already enjoying loan from its director ,which is excluded from deposit ,will that amount will be considered while calculating above limit Thanks

Views (1605)
Posted By: Nidhi goel 9 year(s) ago

Answer

Can a private company take deposit/loan from HUF? All Members in HUF are the directors and shareholders of the private company. Read More
Can a private company take deposit/loan from HUF? All Members in HUF are the directors and shareholders of the private company.

Views (1676)
Posted By: Jitendra lekhwani 7 year(s) ago

Answer

Provisions of Sec 73(2) (a) to (e) shall not apply to a private company which accepts from its members monies not exceeding 100% o Read More
Provisions of Sec 73(2) (a) to (e) shall not apply to a private company which accepts from its members monies not exceeding 100% of aggregate of the paid up share capital and free reserves. Will the monies accepted from Directors & relative of Directors be considered while calculating 100% limit ?

Views (1541)
Posted By: Ravi 9 year(s) ago

Answer

Dear All, Please advise the form number in which return of acceptance of deposit by private company has to be filed. if it is D Read More
Dear All, Please advise the form number in which return of acceptance of deposit by private company has to be filed. if it is DPT-3, the information has to be audited by auditors before 30th june but in case of Private company generally the audit is completed after june only;then how to file the return before 30th June. Thanks

Views (1363)
Posted By: Nidhi goel 8 year(s) ago

Answer

Ours is a Pvt Ltd Company and we have accepted deposits from 1. Members (well within the limit of 100% of Paid-up Share Capital Read More
Ours is a Pvt Ltd Company and we have accepted deposits from 1. Members (well within the limit of 100% of Paid-up Share Capital and Free Reserves), 2. Directors, and 3. Relatives of Directors, during the Financial Year 2015-16. Do we need to file Return of Fixed Deposits in Form DPT 3 on or before 30-06-2016. Please advice

Views (1239)
Posted By: Kamlesh g pandya 8 year(s) ago

Answer

What is the prescribed manner for informing ROC in case of Deposits From Shareholders in case of private Ltd companies (upto 100% Read More
What is the prescribed manner for informing ROC in case of Deposits From Shareholders in case of private Ltd companies (upto 100% of share capital and reserves). Further, is DPT-3 Required to be filed in case of Private company which has accepted deposits from Shareholders only in above case.

Views (2265)
Posted By: Abhishek dad 8 year(s) ago

Answer

Can a private company take loan from HUF of its director? Read More
Can a private company take loan from HUF of its director?

Views (5163)
Posted By: Vivek doshi & co 9 year(s) ago

Answer

Hi I am not able to understand your reply. My Questions is acceptance of deposit from members (25% of Net worth) by company (Priv Read More
Hi I am not able to understand your reply. My Questions is acceptance of deposit from members (25% of Net worth) by company (Private Limited and Unlisted Public limited company) other than eligible company in terms of section 73(2) of companies Act 2013.So If non-eligible a private limited and unlisted public limited company wants to accept deposit/unsecured loan from its members: 01. Is it compulsory to Obtain Credit Rating? 02. apart from sending copy of circular to members by post/email etc., Is it compulsory to Advertise Circular in two news paper, (Rule 4 (1) of Companies (Acceptance of Deposits) Riles, 2014 ?

Views (2307)
Posted By: Vasant patel 10 year(s) ago

Section 74- Repayment of deposits, etc., accepted before commencement of this Act.

Answer

Form DPT 4 is an attachment giving details of deposits as on 31.3.2014. Pl specify to which e form it should be attached to for f Read More
Form DPT 4 is an attachment giving details of deposits as on 31.3.2014. Pl specify to which e form it should be attached to for filing with ROC ?

Views (1363)
Posted By: Sandhya 10 year(s) ago

Answer

As per Section 74, in case the due date for repayment of the depsoit falls after 31.03.2015,whether the non-eligilible companies n Read More
As per Section 74, in case the due date for repayment of the depsoit falls after 31.03.2015,whether the non-eligilible companies needs to repay it on 31.03.2015 or on the due date? kindly clarify with the section and rule reference.

Views (2937)
Posted By: Srinivasaraghavan 10 year(s) ago

Answer

Dear Sir/Madam, a private company took loan from its members under the Companies Act, 1956 and the same is still exist on 31.03.20 Read More
Dear Sir/Madam, a private company took loan from its members under the Companies Act, 1956 and the same is still exist on 31.03.2014. Now, as per new act, what we should be done?? can we will have to repaid it or also give interpretation of explanation as given in Rule 19 of Chapter V.

Views (1398)
Posted By: Cs deepesh kumar nayak 10 year(s) ago

Answer

What would be the treatment of unsecured loans outstanding as on 31.03.2014 in a private limited company ? Whether they would be t Read More
What would be the treatment of unsecured loans outstanding as on 31.03.2014 in a private limited company ? Whether they would be treated as deposits and need to be paid within 1 year? If yes please provide the procedure for same.

Views (1386)
Posted By: Sunil 10 year(s) ago

Answer

While filing Form GLN 2 seeking one years time to repay deposits outstanding as at the commencement of CA 2013, should we select t Read More
While filing Form GLN 2 seeking one years time to repay deposits outstanding as at the commencement of CA 2013, should we select the option "return of deposits" or "Others" under point no 3?

Views (1765)
Posted By: Latha 10 year(s) ago

Answer

Is it mandatory to file DPT-4 with certificate even if there is no deposit Read More
Is it mandatory to file DPT-4 with certificate even if there is no deposit

Views (1665)
Posted By: Arun kumar 10 year(s) ago

Answer

My Company Having unsecured Loans on 31.03.2014 by its share holder & not filled DPT 4 with ROC Now can i file the DPT 4 Read More
My Company Having unsecured Loans on 31.03.2014 by its share holder & not filled DPT 4 with ROC Now can i file the DPT 4

Views (1290)
Posted By: Rajesh chopra 9 year(s) ago

Answer

Auditors Certificate which is required to be attached with Form DPT-4 is manadatorily to be taken from Statutory Auditors or can b Read More
Auditors Certificate which is required to be attached with Form DPT-4 is manadatorily to be taken from Statutory Auditors or can be taken from a CA as well ?

Views (1861)
Posted By: Kanika gupta 10 year(s) ago

Answer

Whether Certificate as attached to DPT-4 be signed by the statutory auditor of the Company or any practicing Chartered Accountant? Read More
Whether Certificate as attached to DPT-4 be signed by the statutory auditor of the Company or any practicing Chartered Accountant? Thanks in advance.

Views (2065)
Posted By: Himanshu 9 year(s) ago

Answer

If as on 31-03-2014 there is loan form relative of Director which is repaid on 28-05-2014 whether still the company is required to Read More
If as on 31-03-2014 there is loan form relative of Director which is repaid on 28-05-2014 whether still the company is required to file DPT-4? After considering the General Circular 05/2015 dated 30-03-2015 in my case still there is requirement to file DPT-4? Many Many Thanks in Advance

Views (1890)
Posted By: Himanshu 9 year(s) ago

Answer

A company having share application money pending in its books as on 31.03.2014 and is still pending. Is the company required to fi Read More
A company having share application money pending in its books as on 31.03.2014 and is still pending. Is the company required to file Form DPT -4 as the said share application money falls in the definition of deemed deposits??

Views (1545)
Posted By: Kanika gupta 10 year(s) ago

Answer

Sec 74 starts with the words "where in respect of any deposit accepted by a company before the commencement of this Act". The Dep Read More
Sec 74 starts with the words "where in respect of any deposit accepted by a company before the commencement of this Act". The Deposit rules 2014 made effective from 1.4.2014 states that deposit does not include unsecured loans accepted from directors. As a result unsecured loans from shareholders and relatives will fall within the definition of "deposits" wef 1.4.2014. However under the CA 1956 unsecured loans from directors as well as shareholders and relatives were excluded from "deposits". Does it imply that unsecured loans from shareholders/relatives accepted before the commencement of CA 2013 will not require compliance with Sec 74(1) of CA 2013?

Views (1533)
Posted By: Latha 10 year(s) ago

Answer

As per Section 74, in case the due date for repayment of the depsoit falls after 31.03.2015,whether the non-eligilible companies n Read More
As per Section 74, in case the due date for repayment of the depsoit falls after 31.03.2015,whether the non-eligilible companies needs to repay it on 31.03.2015 or on the due date? kindly clarify with the section and rule reference.

Views (2823)
Posted By: Srinivasaraghavan 10 year(s) ago

Answer

As per Section 74, in case the due date for repayment of the depsoit falls after 31.03.2015,whether the non-eligilible companies n Read More
As per Section 74, in case the due date for repayment of the depsoit falls after 31.03.2015,whether the non-eligilible companies needs to repay it on 31.03.2015 or on the due date? kindly clarify with the section and rule reference.

Views (2870)
Posted By: Srinivasaraghavan 10 year(s) ago

Section 75- Damages for fraud.

Answer

Dear Sir/Madam, As per Deposit rule if company give money to other company as a performance guarantee without interest , as its Read More
Dear Sir/Madam, As per Deposit rule if company give money to other company as a performance guarantee without interest , as its not cover in deposit money than is it attract any other section and if no than there is required to prove that money belong to performance guarantee, if its required to prove than how to prove because there have not any written agreement between party. please reply asap.

Views (1263)
Posted By: Radhey 9 year(s) ago

Section 77- Duty to register charges, etc.

Answer

IF Bank Guranatee is issued after the lien on Fixed Deposit, IS CHG-1 to be filed Read More
IF Bank Guranatee is issued after the lien on Fixed Deposit, IS CHG-1 to be filed

Views (2343)
Posted By: Sanjeev 9 year(s) ago

Answer

if a private company took a loan from bank then is it necessary to create charge on its assets Read More
if a private company took a loan from bank then is it necessary to create charge on its assets

Views (1467)
Posted By: Arpitha 9 year(s) ago

Answer

if a private company took a loan from bank then is it necessary to create charge on its assets Read More
if a private company took a loan from bank then is it necessary to create charge on its assets

Views (1401)
Posted By: Arpitha 9 year(s) ago

Answer

If a charge is not registered within 30 days , is filing of form CHG-1 would be sufficinet compliance of Section 77? Further the Read More
If a charge is not registered within 30 days , is filing of form CHG-1 would be sufficinet compliance of Section 77? Further there is a reference to form CHG-10 regarding condonation of delay by Registrar maximum upto 300 days in case of delayed registration , however no such form is available as yet. Pls advise

Views (4685)
Posted By: Kanika gupta 9 year(s) ago

Answer

X Co. has taken Loan from NBFC, issued Debentures and executed Debenture Trust Deed.( DTD). Y Co has given its security to secure Read More
X Co. has taken Loan from NBFC, issued Debentures and executed Debenture Trust Deed.( DTD). Y Co has given its security to secure Loan and there by secure Debentures and party to DTD Reading of Rule 3 of Companies (Registration of Charges) Rules, 2014 For registration of charge as provided in sub-section (1) of section 77, section 78 and section 79, the particulars of the charge together with a copy of the instrument, if any, creating or modifying the charge in Form No.CHG-1 (for other than Debentures) or Form No.CHG-9 (for debentures including rectification), Query : Whether Y Co shall required to file CHG-1 or CHG-9 ? 1. Now in this case though Y. Co is not issuing Debentures , but it shall create charge to secure Debentures issued by X Co. 2. Section 77 and Rule 3 , does not speak about Issuer of Deb., it specifies Charge creating Instrument 3. Eform filing is Instrument specific and not issuer specfic Hence as per section and Rules Y. Co shall file CHG-9, instead of CHG-1 Kindly share your views

Views (966)
Posted By: Mandar 7 year(s) ago

Answer

Whether charge has to be created on the finance lease taken by the company? Read More
Whether charge has to be created on the finance lease taken by the company?

Views (1288)
Posted By: Deepthi 7 year(s) ago

Answer

As per Section 77 of the Companies Act, 2013. ‘It shall be the duty of every company creating a charge within or outside India, on Read More
As per Section 77 of the Companies Act, 2013. ‘It shall be the duty of every company creating a charge within or outside India, on its property or assets ………………, to register the particulars of the charge………., with the Registrar within thirty days of its creation’. Charge has been defined as ‘an interest or lien created on the property or assets of a company or any of its undertakings or both as security and includes a mortgage’. Does that mean a Company is required to register details of Pledge created on shares held by it as investments. For example, Company A holds Equity Shares of Company B as Investments. Now Company A desires to pledge those investments in favour of C, do Company A require to Register the same with RoC, under the provisions of Companies Act, 2013

Views (1488)
Posted By: Vivek vijay 11 year(s) ago

Answer

if a private company took a loan from bank then is it necessary to create charge on its assets Read More
if a private company took a loan from bank then is it necessary to create charge on its assets

Views (1307)
Posted By: Arpitha 9 year(s) ago

Answer

if a private company took a loan from bank then is it necessary to create charge on its assets Read More
if a private company took a loan from bank then is it necessary to create charge on its assets

Views (1518)
Posted By: Arpitha 9 year(s) ago

Section 82- Company to report satisfaction of charge.

Answer

Section 82(1) with regard to satisfaction of charges mentions that the provisions of sub section (1) of section 77, as far as mat Read More
Section 82(1) with regard to satisfaction of charges mentions that the provisions of sub section (1) of section 77, as far as mat be, apply to an intimation given under this section. Does this mean that for satisfaction of charges can also be registered with ROC within a period of 300 days on payment of additional fees as may be prescribed??

Views (1473)
Posted By: V. ramkumar 9 year(s) ago

Section 85- Company's register of charges.

Answer

company is registered under the indian companies act,1913 and is almost 80 years old. Now as per new act,we have to keep register Read More
company is registered under the indian companies act,1913 and is almost 80 years old. Now as per new act,we have to keep register of members in electronic form. Pl guide us from what date ( whether from the date of incorporation or from 1.4.2013 i.e. the date of coming into force the said legislation? do we have to keep the said .

Views (1192)
Posted By: Anil 10 year(s) ago

Section 88- Register of members, etc.

Answer

WHAT IS THE DIFFERENCE BETWEEN COMPANIES ACT 2013 AND 1956 FOR REGISTER OF MEMBER Read More
WHAT IS THE DIFFERENCE BETWEEN COMPANIES ACT 2013 AND 1956 FOR REGISTER OF MEMBER

Views (1685)
Posted By: Pradeep arora 9 year(s) ago

Section 89- Declaration in respect of beneficial interest in any share.

Answer

At the end of Form MGT-5 a certificate is required to be signed by the person who has transferred the beneficial interest in the s Read More
At the end of Form MGT-5 a certificate is required to be signed by the person who has transferred the beneficial interest in the shares. Who will be that person, transferor of the shares or the person who has registered the transfer in the company’s books means Director. Further the instrument/document under which the beneficial interest is created is to be attached with Form MGT 4 & MGT 5 both. Which document is this, transfer deed or sm other document

Views (1052)
Posted By: Anita 10 year(s) ago

Answer

In continuation of my query on beneficial interest as replied by Akila pl. clarify why the transferor will sign anything after sig Read More
In continuation of my query on beneficial interest as replied by Akila pl. clarify why the transferor will sign anything after signing the transfer deed at the time of sale. And the beneficial owner is already signing the FormMGT-5. I am asking about the certificate at the end of MGT 5 which is required to be signed by the person who has transferred the beneficial interest in the shares who will be that person. Further a certified copy of the resolution passed by the company for which the registered owner is holding the shares as nominee is enough as document of beneficial interest.Further as replied by Ankit if it is signed by the beneficial owner thn what is the need to give it seperately as a certificate the BO is the one who is to sign the MGT 5 . It is really confusing pl clarify who is the person who has transferred the beneficial interest in the shares and how.

Views (1073)
Posted By: Anita 10 year(s) ago

Section 90- Register of significant beneficial owners in a company.

Answer

As per sec-90 significant beneficial owner needs to give the declaration in FORM-BEN-1, who holds more than 10%. my company is a w Read More
As per sec-90 significant beneficial owner needs to give the declaration in FORM-BEN-1, who holds more than 10%. my company is a wholly owned subsidiary co. of a foreign company and there is no such individual found who holds more than 10%, in such case senior managing official has to give the declaration. so my question is senior managing official of the reporting entity or the parent co. needs to give the declaration in FORM-BEN-1? Another ques of mine is that there is no such definition of senior managing official given in the section and the rules...so who will be treated as the senior managing official??

Views (1481)
Posted By: Aastha khanna 6 year(s) ago

Section 92- Annual return.

Answer

W.r.t. Annual Return I had two queries:1. Whether the date of Annual Return should be the date of AGM or 31st March 2014?2. Whethe Read More
W.r.t. Annual Return I had two queries:1. Whether the date of Annual Return should be the date of AGM or 31st March 2014?2. Whether Section 92 (2) of the CA 2013 is still applicable for the Annual Return of the F.Y. 31.03.2014?

Views (1060)
Posted By: Sandeep gandhi 10 year(s) ago

Answer

From which financial year filing of annual return in form MGT-7 as given in Companies Act, 2013 would be applicable?) Read More
From which financial year filing of annual return in form MGT-7 as given in Companies Act, 2013 would be applicable?)

Views (1663)
Posted By: Vivek vijay 10 year(s) ago

Answer

What all items to be included in Audit Report of a Private Limited Company, Read More
What all items to be included in Audit Report of a Private Limited Company,

Views (1386)
Posted By: Arpita 9 year(s) ago

Answer

IN MGT-7 share transfer after financial year i.e after 31.3.2015, do we need to report the same as in case of change in Director w Read More
IN MGT-7 share transfer after financial year i.e after 31.3.2015, do we need to report the same as in case of change in Director we need to report the same even after financial year.

Views (1460)
Posted By: Cs ram thakkar 9 year(s) ago

Answer

Please clarify regarding Form MGT -7 Para IV-Indebtedness including debentures (outstanding) as at the end of financial year. It c Read More
Please clarify regarding Form MGT -7 Para IV-Indebtedness including debentures (outstanding) as at the end of financial year. It covers- Long term borrowings OR Short term borrowings OR Both borrowings Long term and Short term.

Views (1454)
Posted By: Sunil kumar agrawal 9 year(s) ago

Answer

Can someone guide me... incorporated a pvt ltd co in 2010 have not filed any documents with ROC or anyone... just a few deposits m Read More
Can someone guide me... incorporated a pvt ltd co in 2010 have not filed any documents with ROC or anyone... just a few deposits made towards capital and received one payment from a client ( 2013) for which the money was paid to vendors ( for the payment received ) the project went for a toss and had to refund the amount paid by the client. since then no transactions Can someone help me what needs to be done to regularise this mess ? what would be the fees and penalties payable Thanks for your time Joshua

Views (1675)
Posted By: Joshua dsouza 8 year(s) ago

Answer

MY COMPANY REGISTERED IN SEPT 2016 & TILL DATE NO TRANSACTION IS DONE. I HAVE NOT FILED ANY RETURN WITH ROC & WANT TO STRIKE OFF T Read More
MY COMPANY REGISTERED IN SEPT 2016 & TILL DATE NO TRANSACTION IS DONE. I HAVE NOT FILED ANY RETURN WITH ROC & WANT TO STRIKE OFF THIS COMPANY. PLEASE ADVISE WHAT TOTAL FEES & PENALTY I HAVE TO PAY? THANKS & REGARDS S DALVI

Views (1322)
Posted By: Surendra dalvi 5 year(s) ago

Answer

MY COMPANY REGISTERED IN SEPT 2016 & TILL DATE NO TRANSACTION IS DONE. I HAVE NOT FILED ANY RETURN WITH ROC & WANT TO STRIKE OFF T Read More
MY COMPANY REGISTERED IN SEPT 2016 & TILL DATE NO TRANSACTION IS DONE. I HAVE NOT FILED ANY RETURN WITH ROC & WANT TO STRIKE OFF THIS COMPANY. PLEASE ADVISE WHAT TOTAL FEES & PENALTY I HAVE TO PAY? THANKS & REGARDS S DALVI

Views (1457)
Posted By: Surendra dalvi 5 year(s) ago

Section 93- Return to be filed with Registrar in case promoters' stake changes. [Omitted]

Answer

As per section 93 of the Companies Act, 2013 the changes in aggregate shareholding of promoters and top ten shareholders categorie Read More
As per section 93 of the Companies Act, 2013 the changes in aggregate shareholding of promoters and top ten shareholders categories exceeding 2% increase or decrease have to be filed within 15 days from the date of such change with ROC in Form MGT-10. However, the following queries have arisen while filing such details in Form No. MGT-10 :- i) When this form (MGT-10) is to be filed a) When there is change of 2% or more ± in aggregate total shareholding of promoters or top ten shareholders considering the total share capital of the Company OR b) When there is change of 2% or more ± in individual holding of promoters and top ten shareholders considering the total share capital of the Company. ii) The requirement at Sr. No.5 states “details of change in shareholding pattern”. It is not clear which details of change will appear. Whether the details of all those promoters/top ten shareholders where changes have occurred in aggregate (+) or (-) 2% or more should be mentioned. iii) The requirement at Sr. No.6 reads as “details of shareholding position of promoters and top ten shareholders”. It is not clear which details are to be provided. Since it contains the column of change of shareholding hence furnishing of same information as required under Sr.No.5 again under this heading does not make sense. Advice is sought about filling of details in Form MGT10 in respect of changes as contemplated under section 93 of the Companies Act, 2013.

Views (22212)
Posted By: Amish 10 year(s) ago

Answer

Sec. 93 read with Rule 13 of Companies (Management and Administration) Rules 2014 require filing of Form MGT 10 on 2% change in sh Read More
Sec. 93 read with Rule 13 of Companies (Management and Administration) Rules 2014 require filing of Form MGT 10 on 2% change in shareholding of Promoters and top 10 shareholders. Please clarify whether it is 2% of total paid-up share capital of the company or 2% of individual shareholding? Further, what will be the base date for arriving 2% shareholding change?

Views (1527)
Posted By: Pradeep kumar jain 9 year(s) ago

Section 94- Place of keeping and inspection of registers, returns, etc.

Answer

Whether a Company can keep its records/copies of annual returns as required under Section 94, at a place other than the place wher Read More
Whether a Company can keep its records/copies of annual returns as required under Section 94, at a place other than the place where more than 1/10th of the members reside.

Views (1784)
Posted By: Suniti 10 year(s) ago

Answer

Whether Register of share transfer is statutory register? Can a member of company inspect the same? Read More
Whether Register of share transfer is statutory register? Can a member of company inspect the same?

Views (1316)
Posted By: Sanket 7 year(s) ago

Section 96- Annual general meeting.

Answer

• Is there any return/document (except annual return) which company has to file with Registrar under Companies Act,2013 after its Read More
• Is there any return/document (except annual return) which company has to file with Registrar under Companies Act,2013 after its AGM?

Views (1348)
Posted By: Akansha 10 year(s) ago

Answer

As per section 96 of the companies Act, 2013, an anuual general meeting can not be hled on Natinal Holidays declared by the Centra Read More
As per section 96 of the companies Act, 2013, an anuual general meeting can not be hled on Natinal Holidays declared by the Central Government. Central Government had declared only three days, viz, Independence Day, Republic Day and Gandhi Jayanthi as national holidays. Sunday is not declared as a national holiday. Hence, can an AGM be held on Sunday?

Views (2271)
Posted By: Ram 10 year(s) ago

Answer

what will the date of first AGM for the Company incorporate in 28/01/2013? Read More
what will the date of first AGM for the Company incorporate in 28/01/2013?

Views (2860)
Posted By: Mradul gaur 10 year(s) ago

Answer

This is a case of company registered under Sec 26 of CA 1913 (corresponding sec 25 of CA 1956 and sec 8 of CA 2013). The company Read More
This is a case of company registered under Sec 26 of CA 1913 (corresponding sec 25 of CA 1956 and sec 8 of CA 2013). The company wishes to hold its AGM/EGM at a place other than the registered office and outside the local limits of the city in which the registered office is situated. Proviso to Sec 96(2) states that the central govt may exempt any company from the provisions of sec 96(2) subject to such conditions as it may impose. In light of this should the company apply to the Central Govt?. What is the prescribed eform for this?

Views (1083)
Posted By: Latha 10 year(s) ago

Answer

A company was incorporated on 6th November, 2013 under Companies Act, 1956.what is the time period for holding its first Annual G Read More
A company was incorporated on 6th November, 2013 under Companies Act, 1956.what is the time period for holding its first Annual General Meeting?

Views (1491)
Posted By: Anshita agarwal 9 year(s) ago

Answer

Form AOC 4 is not yet notified and a Company has already Conducted its AGM, so Which form needs to be filed for the same? Any dela Read More
Form AOC 4 is not yet notified and a Company has already Conducted its AGM, so Which form needs to be filed for the same? Any delay in filing may lead to penalty, please suggest a suitable solution for the same.

Views (1752)
Posted By: Manoj kumar koyalkar 9 year(s) ago

Answer

what are the major compliances needed to done after an AGM for public listed company? Read More
what are the major compliances needed to done after an AGM for public listed company?

Views (2176)
Posted By: Prerna kapoor 9 year(s) ago

Answer

A Company was incorporated in December 2012. Can they hold their first AGM in June 2014? Read More
A Company was incorporated in December 2012. Can they hold their first AGM in June 2014?

Views (2337)
Posted By: Vithal kumar pingali 10 year(s) ago

Answer

what could be the reasons for extension of AGM Read More
what could be the reasons for extension of AGM

Views (1423)
Posted By: Shubha 9 year(s) ago

Section 100- Calling of extraordinary general meeting.

Answer

Whether a subsidiary company of a foreign holding Company (Holding 90%) can hold its general meeting outside India? Read More
Whether a subsidiary company of a foreign holding Company (Holding 90%) can hold its general meeting outside India?

Views (1183)
Posted By: Gurpreet kaur 6 year(s) ago

Section 101- Notice of meeting.

Answer

Convening of AGM for FY 2013-14 at shorter notice would be governed by the provisions of Section 171 of Companies Act ,1956 which Read More
Convening of AGM for FY 2013-14 at shorter notice would be governed by the provisions of Section 171 of Companies Act ,1956 which requires 100% consent of the members or as per Sec 101 of Companies Act,2013 which requires 95 % consent of the members.?

Views (1265)
Posted By: Kanika gupta 10 year(s) ago

Section 108- Voting through electronic means.

Answer

ours is a listed company going to convene the annual general meeting on 29.09.2014 relating to Financial year 2013-14. is it manda Read More
ours is a listed company going to convene the annual general meeting on 29.09.2014 relating to Financial year 2013-14. is it mandatory to provide E Voting facility to shareholders in this meeting.

Views (1004)
Posted By: Kamdhenu ispat limited 10 year(s) ago

Section 109- Demand for poll.

Answer

In polling paper as per form MGT-12 (Section 109) there is no mentioning that the form can also be signed by Proxy holder, apar Read More
In polling paper as per form MGT-12 (Section 109) there is no mentioning that the form can also be signed by Proxy holder, apart from the Shareholder. In a way, the form seems to be inconsistent with the provision of Section 109 of the Act. Please clarify?

Views (1211)
Posted By: Kamal 9 year(s) ago

Section 110- Postal ballot.

Answer

An unlisted company proposes to transact a business for which the members approval is to be sought mandatorily by way of postal ba Read More
An unlisted company proposes to transact a business for which the members approval is to be sought mandatorily by way of postal ballot. The company's present AOA does not have provisions for postal ballot. Should the company first amend its AOA to include provisions for postal ballot and then proceed with the formalities for postal ballot process?.

Views (1026)
Posted By: Latha 10 year(s) ago

Section 123- Declaration of dividend.

Answer

What is the exact meaning of "event of inadequacy or absence of profits in any year"? What are criterias for profit to be consider Read More
What is the exact meaning of "event of inadequacy or absence of profits in any year"? What are criterias for profit to be considere as "inadequate" under section 123 of the Companies Act 2013?

Views (7870)
Posted By: Robin 10 year(s) ago

Answer

Please guide whether analysis given below is proper. Interim dividend once declared cannot be revoked except in 2 cases 1) Where d Read More
Please guide whether analysis given below is proper. Interim dividend once declared cannot be revoked except in 2 cases 1) Where declaration of dividend is ultra virus 2) Where co ceases to be a going concern Co cannot withdraw withing five days also after declaration as interim dividend once declared, like final dividend, is a debt due from co. Declaratin of dividend out of reserve: 1) Out of C.Y. Profit- set off losses and unab. Dep of all the P.Y's 2) Out of reserve- set off of LOSS ONLY ( and not dep.) Of that f.y. in which dividend is to be declared. Non payment of dividend is an offence Which is not compoundable as there is 'and' and not 'or' so be careful.

Views (2222)
Posted By: Ravi 9 year(s) ago

Answer

Interim dividend u/s 123(3) declared by Board of Directors can be revoked before reconfirming in General Meeting by shareholders Read More
Interim dividend u/s 123(3) declared by Board of Directors can be revoked before reconfirming in General Meeting by shareholders ?

Views (1058)
Posted By: Rahul chaudhary 9 year(s) ago

Section 124- Unpaid dividend account.

Answer

As per Rule 6 (13) of the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, a Read More
As per Rule 6 (13) of the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, any amount required to be credited by the Companies to the Fund (including dividend amount on shares transferred to IEPF Authority) shall be remitted into specified account of IEPF Authority maintained in the Punjab National Bank. How to ensure compliance of the same by crediting the amount of dividend to the account of IEPF Authority? How to obtain bank details of IEPF Authority?

Views (1442)
Posted By: Sachin 5 year(s) ago

Section 125- Investor Education and Protection Fund.

Answer

Can a resolution for authorising CS and MD be passed in the shareholder relationship Committee meeting authorising transfer of sha Read More
Can a resolution for authorising CS and MD be passed in the shareholder relationship Committee meeting authorising transfer of shares to IEPF suspense account ( as required under recent ammendment and what is notice period to shareholders required during this first year of transfer.

Views (871)
Posted By: Chandranil belvalkar 8 year(s) ago

Answer

What is the procedure to transfer physical shares of an Unlisted Public Co which has no ISIN or R& T agent to the Investor Educati Read More
What is the procedure to transfer physical shares of an Unlisted Public Co which has no ISIN or R& T agent to the Investor Education & Protection Funds

Views (1230)
Posted By: B.basu 7 year(s) ago

Answer

Dear Sir/Madam My client has missed filing Form -IEPF- 6 for the financial year 2016-17. The client wishes to file it now, howeve Read More
Dear Sir/Madam My client has missed filing Form -IEPF- 6 for the financial year 2016-17. The client wishes to file it now, however I am doubtful that it might go for compounding as 300 days have already passed. Please help me in knowing whether the form can go for compounding or can i just pay the required additional fee and complete necessary process Thanks and Regards

Views (1711)
Posted By: Gagandeep singh 6 year(s) ago

Section 128- Books of account, etc., to be kept by company.

Answer

Is there any format in which summarised returns of the accounting transactions periodically are sent by the BRANCH office to the Read More
Is there any format in which summarised returns of the accounting transactions periodically are sent by the BRANCH office to the company at its registered office??

Views (1096)
Posted By: Suresh 9 year(s) ago

Section 129- Financial statement.

Answer

will the accounts of a gratuity Trust be consolidated with the Company ? Read More
will the accounts of a gratuity Trust be consolidated with the Company ?

Views (1680)
Posted By: Meenakshi sharma 10 year(s) ago

Answer

Can a private ltd company adopting Jan-Dec as its financial year present the accounts and financial statements for the FY ended De Read More
Can a private ltd company adopting Jan-Dec as its financial year present the accounts and financial statements for the FY ended Dec 2014 as per the old Companies Act 1956 and follow depreciation as per Sch XIV of the old Act, since the provisions of Companies Act 2013 relating to accounts & financial statements as also Sch II & Sch III are effective for FY s beginning Apr 2014. Kindly clarify.

Views (1362)
Posted By: Radha 10 year(s) ago

Answer

Can company have MD & CEO both under new company act Because under section 129 Financial Statement should be signed by two directo Read More
Can company have MD & CEO both under new company act Because under section 129 Financial Statement should be signed by two directors out of which one shall be managing director and the Chief Executive Officer. Can anyone please explain.

Views (2332)
Posted By: Ravi 10 year(s) ago

Answer

As per Section 129(3), a company has to consolidate the accounts of its subsidiaries (including Joint Ventures/Associate Companies Read More
As per Section 129(3), a company has to consolidate the accounts of its subsidiaries (including Joint Ventures/Associate Companies) and report. However while reading Rule 6 of Companies (Accounts) Rules, 2014 along with GSR 723E dated 14th October, 2014 it seems that companies that do not have subsidiaries but only associate companies are exempt from the requirement of preparing Consolidated Financial Statement for the year ending 31st March, 2015. Please clarify whether the understanding that: 1) Companies that do not have subsidiary but only associate company is exempt from preparing Consolidated Financial Statement? 2) Is attaching AOC 1 along with Financial Statements be sufficient? is correct.

Views (9996)
Posted By: Shiv kumaran 9 year(s) ago

Answer

When is consolidation of financial statements mandatory Read More
When is consolidation of financial statements mandatory

Views (1437)
Posted By: Sandhya 9 year(s) ago

Answer

Rule 6 of The Companies (Accounts) Rules, 2014) provide that the consolidation of financial statements of the company shall be mad Read More
Rule 6 of The Companies (Accounts) Rules, 2014) provide that the consolidation of financial statements of the company shall be made in accordance with the provisions of Schedule III of the Act and the applicable accounting standards. On 16 January 2015, the MCA issued an amendment that provides that: (ii) in rule 6, after the third proviso, the following proviso shall be inserted, namely :— “Provided also that nothing in this rule shall apply in respect of consolidation of financial statement by a company having subsidiary or subsidiaries incorporated outside India only for the financial year commencing on or after 1st April, 2014.” In the light of the amended rule we would like to understand whether the exemption from preparing consolidated financial statements for the financial year 2014-15 is available if a company has foreign subsidiaries along with Indian subsidiaries, or will be available if a company has only foreign subsidiaries but no Indian subsidiaries.

Views (1382)
Posted By: Pradeep chugh 9 year(s) ago

Answer

Please send us the format of Consolidated Directors Report, MGT-9 & Auditors Report if you have !! Read More
Please send us the format of Consolidated Directors Report, MGT-9 & Auditors Report if you have !!

Views (1912)
Posted By: Sreenivas babu 9 year(s) ago

Answer

Is it mandatory to adopt audited financial statements of subsidiary co./associate co. in its AGM before adopting the same at the A Read More
Is it mandatory to adopt audited financial statements of subsidiary co./associate co. in its AGM before adopting the same at the AGM of holding Company as consolidated financial statements? Which provision says that AGM of subsidiary co. /associate co. should be held before the AGM of holding Co.?

Views (1143)
Posted By: Yuga 8 year(s) ago

Answer

Form Replacing F 23AC and F 23ACA of Companies Act, 1956 Read More
Form Replacing F 23AC and F 23ACA of Companies Act, 1956

Views (1263)
Posted By: Jagruti 10 year(s) ago

Section 134- Financial Statement, Board's report, etc.

Answer

What is the Method of Calculating Depreciation as per New Act, And how to start with calculating the Life of expected asset in Blo Read More
What is the Method of Calculating Depreciation as per New Act, And how to start with calculating the Life of expected asset in Block?

Views (1784)
Posted By: Vivek vijay 11 year(s) ago

Answer

Section 134(3)(d), BoD Report has to include astatement on declaration given by independent directors u/s 149(6).What is the wordi Read More
Section 134(3)(d), BoD Report has to include astatement on declaration given by independent directors u/s 149(6).What is the wording of this statement?

Views (1621)
Posted By: K gopalan 10 year(s) ago

Answer

Can you please provide us the draft of Board's Report as per the New Companies Act, 2013 Read More
Can you please provide us the draft of Board's Report as per the New Companies Act, 2013

Views (1733)
Posted By: Deep 9 year(s) ago

Answer

Could you please clarify the following with regard to disclosure in Board Report for the Financial year 2015-2016? a) whether MGT Read More
Could you please clarify the following with regard to disclosure in Board Report for the Financial year 2015-2016? a) whether MGT-9 to be annexed? b) As subsidiary company do not fall under RTP, do we need to disclose RTP transactions and annex AOC-2 . Further, It will be of great help if you could update the Board's report disclosure for the Financial year 2015-2016 based on the notification /Rules notified by MCA,

Views (1391)
Posted By: Tci chemicals india pvt ltd 8 year(s) ago

Answer

Hi Sir, Is reporting on "Internal Financial Control" u/s 134(5)(e) is mandatory for private limited companies? Section only pres Read More
Hi Sir, Is reporting on "Internal Financial Control" u/s 134(5)(e) is mandatory for private limited companies? Section only prescribes for listed companies. However Rule 8(5)(viii) says that Directors have to report the effectiveness of IFC in the Board statement. But nowhere it mentions that it is applicable for private limited companies. But Guidance Note says that IFC is applicable for ALL companies. Also sec 143(3)(i) says that auditor has report on the effectiveness of IFC in their report. So can you please clarify whehter IFC is applicable for private companies or not. My doubt is if the section itself says it is applicable only to public companies how can rules/guidance note says that it is applicable to all comapnies as they are generaly meant for providing explanation to the sections that were enacted in the law. Regards, Vinay

Views (1209)
Posted By: Arpitha 8 year(s) ago

Section 139- Appointment of auditors.

Answer

In the event of casual vacancy in the office of Statutory Auditor whether e-form ADT 1 should be filed within 15 days of Board Mee Read More
In the event of casual vacancy in the office of Statutory Auditor whether e-form ADT 1 should be filed within 15 days of Board Meeting or within 15 days of General Meeting in which his appointment is approved by the shareholders?

Views (1600)
Posted By: Prerna kapoor 9 year(s) ago

Answer

Is it mandatory to appoint statutory auditor for a term of five years? Can he be appointed for one year and 'reappointed' every y Read More
Is it mandatory to appoint statutory auditor for a term of five years? Can he be appointed for one year and 'reappointed' every year; instead of 'ratification of appointment'?

Views (1545)
Posted By: Bandaru 9 year(s) ago

Answer

My company has Auditor firm doing Audit since 2008...please clarify about the rotation of auditors as per new act Read More
My company has Auditor firm doing Audit since 2008...please clarify about the rotation of auditors as per new act

Views (1557)
Posted By: Vibha 10 year(s) ago

Answer

The Companies which fall within the purview of Rule 5 of Companies (Audit & Auditors) Rules, 2014 and Section 139(2) of Companies Read More
The Companies which fall within the purview of Rule 5 of Companies (Audit & Auditors) Rules, 2014 and Section 139(2) of Companies Act 2013 have been given a time transition of 3 years to comply with the provisions of rotation of auditors. Meaning that they need to appoint a new auditor in case the existing auditor has already exceeded the term permitted in the said Section. My query is: What about companies to whom the section is not applicable on 1.4.14 but by virtue of fresh borrowings beyond the limit given in Rule 5, the section becomes applicable to them? Do they also get a time transition of 3 years? Or do they need to make fresh appointment in this year itself.

Views (2082)
Posted By: Stuti 10 year(s) ago

Answer

Company is required to obtain the Certificate and consent letter from the statutory auditor at every AGM at which its appointment Read More
Company is required to obtain the Certificate and consent letter from the statutory auditor at every AGM at which its appointment is to be ratified, if yes what documents do we need to file with Registrar?

Views (3119)
Posted By: Vivek vijay 10 year(s) ago

Answer

Is it mandatory for a company, whether private or public, to appoint an Auditor for a period of 5 years in terms of Section 139(1) Read More
Is it mandatory for a company, whether private or public, to appoint an Auditor for a period of 5 years in terms of Section 139(1)?

Views (1951)
Posted By: Aakanksha 10 year(s) ago

Answer

I am auditor of private limited co. since 8 years not falling under any class company as section 139(2) whether i have to fillup i Read More
I am auditor of private limited co. since 8 years not falling under any class company as section 139(2) whether i have to fillup information for all 8 years in Form ADTclause 4(i)

Views (1797)
Posted By: Purushottam lal agrawal 10 year(s) ago

Answer

Whether A Proprietorship CA Firm will be treated as a Firm or as an individual for the purpose of section 139(2) relating to appoi Read More
Whether A Proprietorship CA Firm will be treated as a Firm or as an individual for the purpose of section 139(2) relating to appointment of auditors. if possible provide some legal backing. because as per ICAI a proprietorship CA firm has a Firm registration number and in Form ADT-1, it is required to mention the membership number or Firm Registration Number.

Views (1369)
Posted By: Sohrabh jindal 10 year(s) ago

Answer

In section 139(1 ) of CA,2013 FIRST ANNUAL GENERAL MEETING MEANS AFTER COMMENCEMENT OF ACT OR IN CASE OF EXISTING COMPANY WHAT IS Read More
In section 139(1 ) of CA,2013 FIRST ANNUAL GENERAL MEETING MEANS AFTER COMMENCEMENT OF ACT OR IN CASE OF EXISTING COMPANY WHAT IS MEANT BY FIRST AGM?

Views (1964)
Posted By: Dipti shah 10 year(s) ago

Answer

Whether form ADT-1 is required to be filed in case of a government company? Read More
Whether form ADT-1 is required to be filed in case of a government company?

Views (3082)
Posted By: Nilesh patel 9 year(s) ago

Answer

As per the Section Rotation of Auditor is mandatory where if all companies having paid up capital of below threshold limit menti Read More
As per the Section Rotation of Auditor is mandatory where if all companies having paid up capital of below threshold limit mentioned above, but having public borrowings from financial institutions, banks or public deposits of Rs. 50 crore or more My Query is what does "Public Borrowing" means whether it Includes Overdraft Facility Obtained by Company from Bank also or not

Views (4715)
Posted By: Chirag shah 9 year(s) ago

Answer

Sec 139(1) states that every company shall appoint auditor in the first AGM and the company shall file the prescribed return withi Read More
Sec 139(1) states that every company shall appoint auditor in the first AGM and the company shall file the prescribed return within 15 days of the appointment in the AGM with the registrar. In case of newly incorporated company, the Board shall appoint the first auditor within 30 days of registration of company. Is it necessary to file the prescribed return in case of appointment of first auditor by the Board wtih the ROC?

Views (1371)
Posted By: Latha 10 year(s) ago

Answer

I have not filed form 23b for appointment of auditor for the year 2012-13 and 2013-14. What is the procedure for filing the same n Read More
I have not filed form 23b for appointment of auditor for the year 2012-13 and 2013-14. What is the procedure for filing the same now and what are the consequences of late filing of form? If it is to be filed through form GLN-2, what is the procedure of filing the same??

Views (1301)
Posted By: Mahender 10 year(s) ago

Answer

Since ratification of auditor has been omitted by Companies Act 2017. What approach a company needs to follow if it has appointed Read More
Since ratification of auditor has been omitted by Companies Act 2017. What approach a company needs to follow if it has appointed auditors for 1 year and subsequently filing form every year upon the ratification. Do company need to continue filing form ADT-1 or fresh appointment of 5 years is required to be done?

Views (2505)
Posted By: Gurpreet kaur 6 year(s) ago

Answer

As per the recent amendment in the section 139 of the Companies Act, 2013, there is no requirement related to ratification of appo Read More
As per the recent amendment in the section 139 of the Companies Act, 2013, there is no requirement related to ratification of appointment of auditors by members at every annual general meeting . But nothing is stated related to fixing of remuneration of auditors, as the same required approval of members in a General meeting. So, kindly suggest the provisions and the procedure to fix the remuneration of the auditors.

Views (1557)
Posted By: Mehak 6 year(s) ago

Answer

Listed Companies and companies belonging to such class shall appoint or re-appoint an auditor for 1 or 2 term as the case may be, Read More
Listed Companies and companies belonging to such class shall appoint or re-appoint an auditor for 1 or 2 term as the case may be, Query1: My firm is an auditor of private limited company from 2009-2010 and in F.Y 14-15, the public borrowings of the company exceeds 50Cr, now whether the rotation of auditors will apply to my firm and if, then for how many years my firm can continue as an auditor for this company. Query 2: When we have to see the applicability of the provision rotation of auditor, whether it is every year or at the end of term completed (after 5 years). Query 3 : Whether the company is required to file ADT-1 Every year even he is appointed for 1 term (say 5 year), however for every year ratification whether ADT-1 is required to be filed.

Views (1387)
Posted By: Chirag shah 9 year(s) ago

Section 140- Removal, resignation of auditor and giving of special notice.

Answer

An Auditor who was appointed in FY 2013-14, if he had resigned on July 2014, so do we need to comply with the provisions of 2013 o Read More
An Auditor who was appointed in FY 2013-14, if he had resigned on July 2014, so do we need to comply with the provisions of 2013 or 1956 Act as its pertaining to 2013-14 ?

Views (1939)
Posted By: Akansha 10 year(s) ago

Section 143- Powers and duties of auditors and auditing standards.

Answer

Whether reporting under sec 143(3)(i) is applicable to private companies? And should any reporting be made by auditor on the inte Read More
Whether reporting under sec 143(3)(i) is applicable to private companies? And should any reporting be made by auditor on the internal control adopted by the entity in the audit report under any other section of the Companies Act, 2013

Views (3002)
Posted By: Jeeravla&co 8 year(s) ago

Answer

As per Section 143 the Auditors shall state in the Audit report about the effectiveness of Internal Financial Control. However, as Read More
As per Section 143 the Auditors shall state in the Audit report about the effectiveness of Internal Financial Control. However, as per Section 134, the DIrectors shall state in case of a listed company had laid down Internal Financial Controls to be followed. Please advise if Internal Financial Control audit is required only in case of a listed company or any company.

Views (923)
Posted By: Prerna kapoor 8 year(s) ago

Answer

Whether auditors of a private company has to comment on Cl 143(3)(i) regarding internal financial control particularly when such r Read More
Whether auditors of a private company has to comment on Cl 143(3)(i) regarding internal financial control particularly when such requirement is applicable only to a public company in view of sec. 134(5)(e) read with Rule 8(5)(viii) of Companies (Accounts) Rules 2014 ?

Views (877)
Posted By: Mahesh 8 year(s) ago

Section 144- Auditor not to render certain services.

Answer

What definition of management services and other services mentioned in 144, what can we follow any act rule or guidelines Read More
What definition of management services and other services mentioned in 144, what can we follow any act rule or guidelines

Views (1665)
Posted By: Ravi 10 year(s) ago

Answer

As per sec 144 an auditor of the company cannot provide certain services to its holding and subsidiary company does it include ass Read More
As per sec 144 an auditor of the company cannot provide certain services to its holding and subsidiary company does it include associate and JV as well?)

Views (1247)
Posted By: Prekshi gupta 10 year(s) ago

Section 146- Auditors to attend general meeting.

Answer

If Auditor failed to attend the AGM of listed company will it be the default company? Company has sent the AGM notice to auditor. Read More
If Auditor failed to attend the AGM of listed company will it be the default company? Company has sent the AGM notice to auditor. As per 147 if provisions of section 139 to 146 are contravened the company shall be punishable with fine as prescribed.

Views (1109)
Posted By: Sanket 8 year(s) ago

Section 149- Company to have Board of directors.

Answer

An independent director of the company, being a practicing Chartered Accountant, can sign the balance sheet of the company?? Read More
An independent director of the company, being a practicing Chartered Accountant, can sign the balance sheet of the company??

Views (2177)
Posted By: Akjain 9 year(s) ago

Answer

As per SCHEDULE IV section 149(8) CODE FOR INDEPENDENT DIRECTORS the listed entities has to hold at least one meeting in a year of Read More
As per SCHEDULE IV section 149(8) CODE FOR INDEPENDENT DIRECTORS the listed entities has to hold at least one meeting in a year of independent directors, here in the act the word "in a Year" is not defined whether the year here states the any Financial year or the Calender Year?

Views (1574)
Posted By: Prerna kapoor 8 year(s) ago

Answer

Sec 149(4) requires every listed public company to have one-third of the total number of directors as independent directors. F or Read More
Sec 149(4) requires every listed public company to have one-third of the total number of directors as independent directors. F or calculating this no, should nominee directors appointed by banks/ financial institutions,be included in the total strength of the Board. Please clarify with relevant sections/ rules.

Views (881)
Posted By: Radha 8 year(s) ago

Answer

Section states that Maxim Directorship shall not exceed 20, however what if a director hold directorship in 10 public and rest of Read More
Section states that Maxim Directorship shall not exceed 20, however what if a director hold directorship in 10 public and rest of private company and 1 of the private company is converted into public company, how shall he maintain his directorship then

Views (1290)
Posted By: Amit popli 10 year(s) ago

Answer

Dear Sir/Madam, Namste, My Query is regarding appointment of Independent directors who would not come under the purview of retirem Read More
Dear Sir/Madam, Namste, My Query is regarding appointment of Independent directors who would not come under the purview of retirement by rotation:why should we appoint independent directors again who is not falling due for retirement

Views (1284)
Posted By: Nava bharat ventures limited 10 year(s) ago

Answer

Section 149 (1) (b) lays down that 15 directors are the maximum. What if earlier section 25 co had 25 as its max directors and had Read More
Section 149 (1) (b) lays down that 15 directors are the maximum. What if earlier section 25 co had 25 as its max directors and had filled all 25, should it reduce to 15 as sub sec (20 of the section has given one year to comply. Therafter after passing Spl Resln and increasing it to 25 can the section 25 company ( now Section 8) proceed to obtain central govt approval and then appoint the director?

Views (1584)
Posted By: S.m.a.millath 10 year(s) ago

Answer

what is the timeline within which a resident Indian director is to be appointed after the commencement of the new companies act. Read More
what is the timeline within which a resident Indian director is to be appointed after the commencement of the new companies act.

Views (1397)
Posted By: Kunal 10 year(s) ago

Answer

As per new Companies Act is it mandatory to give an appointment letter stating the terms and conditions of appointment viz.remuner Read More
As per new Companies Act is it mandatory to give an appointment letter stating the terms and conditions of appointment viz.remuneration and facilities offered to him/her?

Views (1129)
Posted By: Akansha 10 year(s) ago

Answer

In how many companies a person can be appointed as Independent Directors? Is there any such limit other than limit for Directorshi Read More
In how many companies a person can be appointed as Independent Directors? Is there any such limit other than limit for Directorships? Can a Independent Director of Holding Company be also the Independent Director of Subscriber?

Views (1509)
Posted By: Sandhya 9 year(s) ago

Answer

Whether a person can be directly appoint as an independent director, without appointing as a additional director/ director........ Read More
Whether a person can be directly appoint as an independent director, without appointing as a additional director/ director............???

Views (1375)
Posted By: Mahesh shenoy 9 year(s) ago

Section 152- Appointment of directors.

Answer

Not less than two-thirds of the total number of directors of a public company shall be persons whose period of office is liable to Read More
Not less than two-thirds of the total number of directors of a public company shall be persons whose period of office is liable to determination by retirement of directors by rotation. Whether Additional Director shall also be counted in total nos of directors.

Views (1235)
Posted By: Amit popli 10 year(s) ago

Answer

Section 152(7)(a) of Companies Act, 2013 provides for automatic re-appointment of a retiring director subject to certain condition Read More
Section 152(7)(a) of Companies Act, 2013 provides for automatic re-appointment of a retiring director subject to certain conditions. It is a replica of earlier Section 256(4) of the Companies Act, 1956. What happens if the resolution for re-appointment of retiring Director is put to vote and is defeated meaning votes cast against exceeds votes for the Resolution. No other Director is appointed in the place of retiring director nor the meeting has expressly resolved not to fill the vacancy nor the meeting is adjourned. Kindly considering the above facts and advise, whether the retiring director deemed to have been re-appointed in this case.

Views (1300)
Posted By: Satish 10 year(s) ago

Answer

before appointment of a person as director of the company in general meeting, the same resolution passed in the preceding board me Read More
before appointment of a person as director of the company in general meeting, the same resolution passed in the preceding board meeting subject to approval of shareholders. as per section 152 is it necessary to have the DIN of the person before the said board meeting or before the general meeting?

Views (1221)
Posted By: Kamdhenu ispat limited 10 year(s) ago

Answer

Ours is a listed Government Company. Article 32 of our Company relating to the appointment of Directors read as follows: a) The C Read More
Ours is a listed Government Company. Article 32 of our Company relating to the appointment of Directors read as follows: a) The Chairman, the Vice-Chairman and all other members of the Board of Directors (except part-time Directors) shall be appointed by the President. Till the time Directors are appointed, the Subscribers shall be deemed to be Directors of the Company. b) The part-time Directors shall be appointed by the President from time to time, as provided for in Article 31 supra. c) The President may from time to time, appoint the Chairman or any of the Directors to the office of the Managing Director(s) of the Company for such term and remuneration (whether by way of salary or other- wise) as he may think fit. Any such Chairman/ Director appointed to any such office shall, If he ceases to hold the office of Chairman/Director from any cause, Ipsofacto, immediately cease to be Managing Director(s). By virtue of the above Articles, all the Directors are being appointed by the President directly on the Board. What is the legality of the appointments such made in wake of the Section 152 and 160 of the Companies Act 2013? Do we need to take shareholders approval in the ensuing General Meeting for the same? It is pertinent to note here that our Articles do not contain any provision for appointment of Additional Directors.

Views (1277)
Posted By: Soumendra das 9 year(s) ago

Answer

If a Private or Closely held public company appoints a person who is friend/relative of the managing director in which category h Read More
If a Private or Closely held public company appoints a person who is friend/relative of the managing director in which category he should be placed. viz. Promoter,/ Professional / Independent. There are three categories in Form DIR-12 and MGT-7. The company has no legal requirement to appoint a Independent Director.and the person does not hold any qualification to be called a professional. Seek expert views.

Views (1311)
Posted By: K k arora 9 year(s) ago

Answer

A person who does not hold DIN cannot be appointed as director as per Section 152 r/w Section 164(1)(h) of the Act. Rule 2(d) defi Read More
A person who does not hold DIN cannot be appointed as director as per Section 152 r/w Section 164(1)(h) of the Act. Rule 2(d) definition for DIN under Appointment and Qualifications of directors provides "............ issued by CG to any individual ........ to be appointed or to any existing director of a company. Can anybody Kindly enlighten on this. There are so many existing directors who ve already given their consent but got allotted DIN recently or yet to get DIN allotment. If this is the case what would be scenario between the date of appointment and the date of allotment of DIN if appointment is prior to allotment of DIN. Thanks in advance.

Views (1399)
Posted By: Akila 8 year(s) ago

Section 153- Application for allotment of Director Identification Number.

Answer

In case if digital signature of a Director is not available, what option do company have to file belated documents under CLSS 2014 Read More
In case if digital signature of a Director is not available, what option do company have to file belated documents under CLSS 2014?

Views (1549)
Posted By: Anamika 10 year(s) ago

Section 155- Prohibition to obtain more than one Director Identification Number.

Answer

Is there is any way to track duplicate din of any director. Read More
Is there is any way to track duplicate din of any director.

Views (1269)
Posted By: Deepak gulati 9 year(s) ago

Answer

A person has 2 DINs. He also also holds directorship with both the DINs. Now, my question is how we will process the surrender of Read More
A person has 2 DINs. He also also holds directorship with both the DINs. Now, my question is how we will process the surrender of the DIN?

Views (1614)
Posted By: Vikas kataria 6 year(s) ago

Section 157- Company to inform Director Identification Number to Registrar.

Answer

Has Central Government prescribed any rules under provisions of the section 157, so as to intimation of DIN by a person to the com Read More
Has Central Government prescribed any rules under provisions of the section 157, so as to intimation of DIN by a person to the companies in which he/she is holding position as a director? If yes, please indicate the rules and forms applicable. If not, what course of action should be taken in the absence of a form functioning parallel to earlier form DIN-3?

Views (2003)
Posted By: Brajesh r. agrawal 10 year(s) ago

Section 160- Right of persons other than retiring directors to stand for directorship.

Answer

is a section 8 company, can the retiring directors be proposed for re appointment by way of ordinary resolution through e voting? Read More
is a section 8 company, can the retiring directors be proposed for re appointment by way of ordinary resolution through e voting? The articles of asscoiation of the company states"At the Annual General Meeting, Director of the Director Board shall be elected . In case more candidates than necessary are nominated, election shall take place by ballot at the General Meeting"

Views (1233)
Posted By: Ansari 8 year(s) ago

Answer

Should independent directors also be nominated by a member under section 160 of the act. Further, which are the category of direc Read More
Should independent directors also be nominated by a member under section 160 of the act. Further, which are the category of directors who need not be nominated under section 160 as the section starts with the words “A person who is not a retiring director in terms of section 152”

Views (1119)
Posted By: Arun kumar 10 year(s) ago

Answer

? How will the amount of Rs.1 lakh, received by the Company, from a person who is proposed to be appointed as director and is not Read More
? How will the amount of Rs.1 lakh, received by the Company, from a person who is proposed to be appointed as director and is not appointed in the GM be treated?

Views (1954)
Posted By: Akansha 10 year(s) ago

Answer

A Producer Company wants to be appointed as director in AGM other retiring director Section 160 says that Candidate hav Read More
A Producer Company wants to be appointed as director in AGM other retiring director Section 160 says that Candidate have to deposit Rs 1,00,000. Whether this section is applicable or not?

Views (753)
Posted By: Amardeepduggal 7 year(s) ago

Section 161- Appointment of additional director, alternate director and nominee director.

Answer

"Our Company is a Public ltd. company with PSC >10crore, there are 5 directors in the company out of which one is Managing Directo Read More
"Our Company is a Public ltd. company with PSC >10crore, there are 5 directors in the company out of which one is Managing Director appointed for a term of 5years w.e.f 1/02/2014 and 3 are whole time director appointed for a term of 3 years w.e.f 1/02/2014 and the one who is recently appointed is additional director(executive). All directors are drawing renumeration. The Company has not obtained the approval of shareholders for giving renumeration to Additional director. Now since additional director can't draw remuneration without shareholders approval therefore we want to appoint him as WTD. Can we appoint him as WTD since in that case all the directors will become executive and non-rotational and in that case who will retire by rotation in the next AGM, if yes what is the procedure for the appointment since we have already file form DIR-12 for his appointment as Additional Diirector (executive). The Articles are silent regarding remuneration to Additional director. Your views on this issue will be highly appreciated.

Views (1352)
Posted By: Shashank 9 year(s) ago

Answer

regularisation of director appointed under section 161(2) of CA 2013 ? Read More
regularisation of director appointed under section 161(2) of CA 2013 ?

Views (6987)
Posted By: Surekha garg 11 year(s) ago

Answer

Do we require to file Form DIR 12 for regularization of Additional Director Read More
Do we require to file Form DIR 12 for regularization of Additional Director

Views (1522)
Posted By: Akansha 10 year(s) ago

Answer

• If AOA of Private Company is silent on appointment of an Additional Director then what’s the remedy to appoint someone who expre Read More
• If AOA of Private Company is silent on appointment of an Additional Director then what’s the remedy to appoint someone who expressed his willingness to join the Board. Except alteration of AOA is there any other option to appoint someone as an additional Director?

Views (1251)
Posted By: Akansha 10 year(s) ago

Answer

Can a Company appoint a person as additional director in Board meeting but Article do not have such provision for appointment Read More
Can a Company appoint a person as additional director in Board meeting but Article do not have such provision for appointment of additional director?

Views (1461)
Posted By: Amardeepduggal 7 year(s) ago

Answer

Do we have to file E-form Dir-12 of Original Director who is vacating his office for more than three months, as per the provisions Read More
Do we have to file E-form Dir-12 of Original Director who is vacating his office for more than three months, as per the provisions of section 161 of the Companies Act, 2013?

Views (2066)
Posted By: Mahashweta pamnani 5 year(s) ago

Answer

Do we have to file E-form Dir-12 of Original Director who is vacating his office for more than three months, as per the provisions Read More
Do we have to file E-form Dir-12 of Original Director who is vacating his office for more than three months, as per the provisions of section 161 of the Companies Act, 2013?

Views (2037)
Posted By: Mahashweta pamnani 5 year(s) ago

Section 164- Disqualifications for appointment of director.

Answer

Recently MCA has given list of Disqualified Directors and period of Disqualification is 5 years. My query is if one person has a D Read More
Recently MCA has given list of Disqualified Directors and period of Disqualification is 5 years. My query is if one person has a Director in 4 different Companies say A Ltd, B. Ltd, C Ltd & D Ltd A Ltd - Company Status is Strike off -- MCA has given his name in Disqualified Directors List B Ltd -- Company Status is Active -- MCA has given his name in Disqualified Directors List due to annual return is not filed. C Ltd - Company Status is Active -- MCA has not given his name in Disqualified Director List -- Annual Return is pending for filing past 3 Years D Ltd- Company Status is Active -- MCA has not given his name in Disqualified Director List - Company is regular in filing of his annual return. Whether above Director is disqualified from all 4 Companies ? Whether he should continue or Discontinue in active Companies ? in Case of B Ltd and C Ltd ,Whether Company can file its annual return without prior approval of any authority? In D Ltd Director should continue or not ? How to Remove disqualification of Director ?

Views (1637)
Posted By: Arun rajabhau joshi 7 year(s) ago

Answer

I just want to know the procedure of filing DIR9 to the ROC. it will file physically to the ROC or by e-filing? or who will sign Read More
I just want to know the procedure of filing DIR9 to the ROC. it will file physically to the ROC or by e-filing? or who will sign this form DIR9? how shall be the fee calculated by the company in case of defaulting compaNY and how the ssm,e fee shall be file to the ROC?

Views (1380)
Posted By: Neha goni 6 year(s) ago

Answer

one of my customer having private limited company but no operation past 5 - 6 years and neither filing financial statement nor ann Read More
one of my customer having private limited company but no operation past 5 - 6 years and neither filing financial statement nor annual returns. And he is also a director in other company where the company running so far and filed their financial statement and annual return up to date. Now due to defunct company he got the status of the disqualification w.e.f 01.11.2017 to 31.10.2022. What is the remedy to revoke the disqualification u/s 164(2) of ca 2013. As per my understanding even the director can't file a petition before the high court through writ jurisdiction. Is any other way to come out from the aforesaid issue. Please let us know. thanks in advance.

Views (1428)
Posted By: Aishwarya 5 year(s) ago

Section 167- Vacation of office of director.

Answer

How a period of 12 months is calculated under section 167 in a situation if the office of director shall become vacant in case he Read More
How a period of 12 months is calculated under section 167 in a situation if the office of director shall become vacant in case he absents himself from all board meetings during the period of 12 months?

Views (5110)
Posted By: Prekshi gupta 10 year(s) ago

Answer

Hi, We have a query relating to Section 167(b) of Companies Act 2013. Query: Our Company is a Private Company having 6 Directors Read More
Hi, We have a query relating to Section 167(b) of Companies Act 2013. Query: Our Company is a Private Company having 6 Directors on its Board. 3 Directors out of 6 Directors have attended the Board meeting held on 08/04/2015 only. After which they have not attended any meeting held on 01/07/2015, 08/09/2015, 31/12/2015, 23/03/2016, 26/05/2016, and 16/09/2016. And in this matter under section 167 (b) they need to vacant the office w.e.f. 01/07/2016. But 1 Director out of those 3 Directors has signed the Balance sheet dated 16/09/2016. Further in board meeting dated 13/12/2016 the matter relating to appointment of those 3 Directors has been discussed. What we need to do for cessation, please advise. Thanks and Regards CS Jyoti Aggarwal

Views (1468)
Posted By: Jyoti aggarwal 8 year(s) ago

Section 168- Resignation of director.

Answer

In DIR 12, What is required to be attached as Evidance of Cessation. If any director has submitted its resignation under section 1 Read More
In DIR 12, What is required to be attached as Evidance of Cessation. If any director has submitted its resignation under section 168, the Company has to file DIR 12 alongwith notice of resigation. But what is evidance of cessation, if company does not have Board Meeting during 30 days from the date of resignation ?

Views (1266)
Posted By: Ankit 10 year(s) ago

Answer

In Case of Government Company, the Govt Issues transfer Orders & a Director Ceases to be on the Board. Can this be considered as R Read More
In Case of Government Company, the Govt Issues transfer Orders & a Director Ceases to be on the Board. Can this be considered as Resignation letter? for submitting DIR 12.? He refuses to file DIR-11? what course of action is available to company?

Views (1115)
Posted By: V. maslekar 10 year(s) ago

Answer

what are the attachments required to be attached with the DIR-11 & DIR-12 kindly provide specimen copy ? Read More
what are the attachments required to be attached with the DIR-11 & DIR-12 kindly provide specimen copy ?

Views (2113)
Posted By: A k jain 10 year(s) ago

Answer

What is penalty for Non - filling of Form DIR-11 by Director ? Read More
What is penalty for Non - filling of Form DIR-11 by Director ?

Views (4311)
Posted By: Amardeepduggal 7 year(s) ago

Section 173- Meetings of Board.

Answer

Hi, it is mentioned that gap between 2 board meetings cannot be more than 120 days and this section is notified wef 1.04.2014. Our Read More
Hi, it is mentioned that gap between 2 board meetings cannot be more than 120 days and this section is notified wef 1.04.2014. Our last board meeting was held on 24th february 2014. My question is when can i hold my next BM, is it within 120 days from 24.02.2014 or till 31.07.2014 which is 120 days from the date of notification of this section?

Views (1191)
Posted By: Gagandeep singh 10 year(s) ago

Answer

As per Sec 173 of CA 2013, small companies should hold 1 meeting in each half of calender year which is the minimum criteria. Com Read More
As per Sec 173 of CA 2013, small companies should hold 1 meeting in each half of calender year which is the minimum criteria. Companies have held one or more meetings in the quarter Jan to March 2014 under CA 1956. Can such meetings be considered as meetings for 1st half of calendar yr 2014 under CA 2013 and can such companies hold their 1st BM for FY 1415 in the last week of Aug 2014?

Views (1615)
Posted By: Latha 10 year(s) ago

Answer

to whom the powers of central government are delegated? Read More
to whom the powers of central government are delegated?

Views (1181)
Posted By: Anantha krishnan 9 year(s) ago

Answer

The Act states that small companies can hold only 2 meetings in a year by way of 1 meeting in each half year with a gap of not les Read More
The Act states that small companies can hold only 2 meetings in a year by way of 1 meeting in each half year with a gap of not less than 90 days. Is this provision restrictive in nautre? I mean to ask if the provision is meant to restrict the no of board meetings by small companies?

Views (998)
Posted By: Latha 10 year(s) ago

Answer

? What is the criterion for holding a Trust Board Meeting? How many times a Trust needs to meet during a particular Financial Year Read More
? What is the criterion for holding a Trust Board Meeting? How many times a Trust needs to meet during a particular Financial Year

Views (1705)
Posted By: Vivek vijay 10 year(s) ago

Answer

Rule 12.1(9) of the draft Rules under Chapter XII states that no person other than Chairperson, directors, Secretary and any other Read More
Rule 12.1(9) of the draft Rules under Chapter XII states that no person other than Chairperson, directors, Secretary and any other person whose presence is required pursuant to a legal provision shall be allowed access to the board meeting. Does this mean (i) that invitees can no longer attend; and (ii) that if original directors are present at the meeting their alternate cannot attend as invitees?

Views (1343)
Posted By: Sampath 11 year(s) ago

Answer

As per rule 3(b) of The Companies (Meetings of Board and its powers) Rules, 2014 notice shall inform the directors regarding the o Read More
As per rule 3(b) of The Companies (Meetings of Board and its powers) Rules, 2014 notice shall inform the directors regarding the option available to them to participate through video conferencing mode. So whether we can infer that its not mandatory or at discretion of Board

Views (1244)
Posted By: Venkatesan 10 year(s) ago

Answer

? Does Small Company can convene more than two Board meeting with less than a gap of 90 days between two consecutive meetings? Read More
? Does Small Company can convene more than two Board meeting with less than a gap of 90 days between two consecutive meetings?

Views (1265)
Posted By: Anamika 10 year(s) ago

Section 174- Quorum for meetings of Board.

Answer

Company x and Company Y have 3 common directors and 1 common independent director. Both x & Y are public companies. Company X and Read More
Company x and Company Y have 3 common directors and 1 common independent director. Both x & Y are public companies. Company X and Company Y would like to enter a transaction. In this case, how to determine the quorum for the Board Meeting of company x and Company Y?

Views (1389)
Posted By: K vasantha kumar 9 year(s) ago

Section 175- Passing of resolution by circulation.

Answer

a) is it mandatory to have a clause in AOA for passing circular resolution? b) Will it be sufficient if the circular resolution is Read More
a) is it mandatory to have a clause in AOA for passing circular resolution? b) Will it be sufficient if the circular resolution is approved by majority of the Directors c) whether date of signing of directors can be different? d) whether director interested in the resolution can approve and sign the resolution ?

Views (1206)
Posted By: Tci chemicals india pvt ltd 10 year(s) ago

Answer

Could you pl clarify with relevant section whether variation in terms of appointment of Executive Directors can be done through Ci Read More
Could you pl clarify with relevant section whether variation in terms of appointment of Executive Directors can be done through Circular resolution?

Views (1541)
Posted By: Tci chemicals india pvt ltd 10 year(s) ago

Section 177- Audit committee.

Answer

Dear Sir What is meaning of Outstanding Loans or Borrowings for the purpose of section 138, 139, 177, 178 and 177 (9) of the comp Read More
Dear Sir What is meaning of Outstanding Loans or Borrowings for the purpose of section 138, 139, 177, 178 and 177 (9) of the companies Act, 2013 ? Whether it include shorter term loan or long term loans from banks or financial institutions or other person(s) including unsecured loans, Deposits etc.

Views (1634)
Posted By: Vasant patel 9 year(s) ago

Answer

As per Rule 7 of Companies (meetings of board and its powers), 2014, a pvt. ltd. which has borrowed money from banks and PFIs > Rs Read More
As per Rule 7 of Companies (meetings of board and its powers), 2014, a pvt. ltd. which has borrowed money from banks and PFIs > Rs. 50 crores need to establish a vigil mechanism. Pls. clarify whether working capital limits / short term loans which are not counted for calculation of limits of borrowing u/s 180, are to be included or excluded?

Views (1719)
Posted By: Aakanksha 9 year(s) ago

Section 178- Nomination and remuneration committee and stakholders relationship committee.

Answer

What will be the Composition of Nomination and Remuneration Committee in case of a Listed Company which has 1 WTD and other 2non e Read More
What will be the Composition of Nomination and Remuneration Committee in case of a Listed Company which has 1 WTD and other 2non executive IDsand can any Independent Director Chair such Committee?)

Views (1106)
Posted By: Vivek vijay 10 year(s) ago

Answer

Is Section 178(5) applicable to unlisted Company having more than 5000 shareholders ? Read More
Is Section 178(5) applicable to unlisted Company having more than 5000 shareholders ?

Views (2185)
Posted By: Pooja hiranandani 10 year(s) ago

Answer

Unlisted Public Company whose turnover exceeds 100 crores. Board consist of 6 directors Chairman and Managing Director -1 Whol Read More
Unlisted Public Company whose turnover exceeds 100 crores. Board consist of 6 directors Chairman and Managing Director -1 Whole Time executive Directors - 3 Independent - None-executive directors -2 to constitute Nomination and Remuneration Committee under section 178 at lease three non-executive directors are required. ( company has 4 executive director and 2 non-executive independent directors) However proviso to section says chairperson of the Company (whether executive or non-executive) can be appointed as member. If company constitute Remuneration committee as under 1. Chairman of the Company- (Executive Director)- he will not chair committee 2. Independent directors ( Non-Executive Directors) - Two whether it will be Validly constituted committee Mahesh Bhavsar

Views (1385)
Posted By: Mahesh bhavsar 8 year(s) ago

Section 179- Powers of Board.

Answer

As per Notification no GSR 206(E) dt 18.03.2015, item no 5 of Rule 8 of Companies (Meetings and Powers of Board) Rules relating to Read More
As per Notification no GSR 206(E) dt 18.03.2015, item no 5 of Rule 8 of Companies (Meetings and Powers of Board) Rules relating to power of Board to consider the disclosure of interest by directors has been omitted. So there is no necessity to file the BM resolution with respect to the same with ROC under Sec 117(3)(g) of CA 2013. Please confirm the same.

Views (3189)
Posted By: Latha 9 year(s) ago

Answer

(Is it necessary to file MBP-1 with MGT 14 by every company who have taken a note and pass a Resolution on receipt of disclosure Read More
(Is it necessary to file MBP-1 with MGT 14 by every company who have taken a note and pass a Resolution on receipt of disclosure by the Director, who is holding directorship in ten Companies in case if he is resigned from any one Company?

Views (1748)
Posted By: Akansha 10 year(s) ago

Answer

IS MGT 14 REQUIRED TO BE FILED FOR APPOINTMENT OF CS IN PRIVATE COMPANY Read More
IS MGT 14 REQUIRED TO BE FILED FOR APPOINTMENT OF CS IN PRIVATE COMPANY

Views (1680)
Posted By: Suresh 9 year(s) ago

Answer

A Resolution was passed by Board of Directors at meeting held on August 2013 authorising a person to execute documents for sale of Read More
A Resolution was passed by Board of Directors at meeting held on August 2013 authorising a person to execute documents for sale of shares held as investment by the company. The resolution was passed under Companies Act 1956. With effect from 01.04.2014 Companies Act 2013 has come into force. Due to this should a new resolution be passed againd under Companies Act 2013 again by the Board authorising the same person to execute documents for sale of such shares held as investments, which sale is to take place in June 2014.

Views (1343)
Posted By: Mukund govindharajan 10 year(s) ago

Answer

As per Sec 179(3)(f) of Companies Act,2013, the power to grant loan shall be exercised by the Board by means of a resolution passe Read More
As per Sec 179(3)(f) of Companies Act,2013, the power to grant loan shall be exercised by the Board by means of a resolution passed ata duly convened meeting. Does that imply that an NBFC engaged in the business of granting loans is required to pass a board resolution each and every time while sanctioning a loan to any person/body corporate?

Views (1679)
Posted By: Kanika gupta 10 year(s) ago

Answer

is a holdiong company granting loans to its wholly owned subsidiary is required to pass a board resolution every time under Sectio Read More
is a holdiong company granting loans to its wholly owned subsidiary is required to pass a board resolution every time under Section 179(3) of Companies Act ,2013 while granting loan or it can pass a resolution containing the maximum limit of loan it will grant to its subsidiary ? .

Views (1179)
Posted By: Kanika gupta 10 year(s) ago

Answer

I Have Not Filled any Resolution with ROC ie Disclouser of Director Interest & Approving the Balance for the F.Y 2014-15 Now Secti Read More
I Have Not Filled any Resolution with ROC ie Disclouser of Director Interest & Approving the Balance for the F.Y 2014-15 Now Section 179 has been ameded since 20th March 2015 . Now this is necessary to file the pending resolutions

Views (1350)
Posted By: Rajesh chopra 9 year(s) ago

Answer

In case of a right issue of shares by a private limited company for which board meeting should we file MGT 14 u/s 179(3)(c). Is it Read More
In case of a right issue of shares by a private limited company for which board meeting should we file MGT 14 u/s 179(3)(c). Is it for the Board Meeting where rights issues offer is made or the Board Meeting where rights issue shares are issued and allotted?

Views (2010)
Posted By: Vinu thomas 9 year(s) ago

Answer

As per Sec. 179(3) it was necessary to file form MGT-14 to borrow money Now my questions (1) U/s. 180(1)(c) , I had passed res Read More
As per Sec. 179(3) it was necessary to file form MGT-14 to borrow money Now my questions (1) U/s. 180(1)(c) , I had passed resolution to borrow money upto Rs. 25 lacs, I had already borrowed Rs. 20 lacs and now want to borrow Rs. 5 Lacs, is it necessary to file fresh MGT-14 for remaining borrowing of Rs. 5 lacs (2) Whether borrow money cover unsecured and secured loan and also long term and short term borrowing

Views (1395)
Posted By: Revati sathe 9 year(s) ago

Answer

Can the allotment of shares be made through resolution passed by way of circulation? Read More
Can the allotment of shares be made through resolution passed by way of circulation?

Views (1430)
Posted By: Sunu manuel 9 year(s) ago

Answer

Proviso to Sub-Section (3) of Section 179 talks about delegation to the 'Principal Officer'. However, nowhere in the Companies Act Read More
Proviso to Sub-Section (3) of Section 179 talks about delegation to the 'Principal Officer'. However, nowhere in the Companies Act, 2013, SCRA, SEBI Act or Depositories Act, the term 'Principal Officer' has been defined. In the circumstances, who can be the 'Principal Officer' for the said Section.

Views (1760)
Posted By: Manohar balwani 10 year(s) ago

Answer

Can the Board of a private company ratify the resolution after making the investment above the limit passed in the earlier resolut Read More
Can the Board of a private company ratify the resolution after making the investment above the limit passed in the earlier resolution?

Views (1329)
Posted By: Suman jain 8 year(s) ago

Section 180- Restrictions on powers of Board.

Answer

Rule regarding postal ballot specifically provides for passing of resolution under section 180(1)(a) by way of postal ballot only, Read More
Rule regarding postal ballot specifically provides for passing of resolution under section 180(1)(a) by way of postal ballot only, then why many listed companies are passing the same in the annual general meetings, is there any exception available to that??

Views (1188)
Posted By: Alok srivastava 10 year(s) ago

Answer

Sir, A Private Company had passed a Board Resolution in 2011 (at the time of incorporation) to borrow upto Rs. 10.00 lakhs, when Read More
Sir, A Private Company had passed a Board Resolution in 2011 (at the time of incorporation) to borrow upto Rs. 10.00 lakhs, when its paid up capital was Rs. 4.5 lakhs. The Board then increased its borrowing powers in August 2013 (while approving financial statements) to Rs. 2.00 crores as it thought of acquiring land for slightly re-aligning its objects (original objects were mining activity, for which applications were filed but approvals had not come, & so the Company decided to get into sand mining activity, by inserting those activities in the Main Object). Though the resolution was passed in Aug 2013 BM, the actual lending from the directors happened only in late September 2013, when the Sec. 185 has already got notified. Whether in this case, we can rely upon the old resolution of Aug 2013 passed by the Board would hold good OR we need to comply with new provisions?

Views (1461)
Posted By: Padmavathi k 11 year(s) ago

Answer

If the Board of Directors of the Company borrowed money and mortgaged its properties in excess of its paid up capital and free res Read More
If the Board of Directors of the Company borrowed money and mortgaged its properties in excess of its paid up capital and free reserves, then can company subsequently in general meeting ratify the borrowing so made and properties so mortgaged before passing of special resolution u/s. 180 (1)(c) and 180 (1)(a) of the Companies Act, 2013 or is there any violation of the act.

Views (1856)
Posted By: Vasant patel 10 year(s) ago

Answer

can a resolution of borrowing power be passed by postal ballot Read More
can a resolution of borrowing power be passed by postal ballot

Views (1246)
Posted By: Anil 10 year(s) ago

Answer

Whether unsecured loan taken by private limited from its Directors covered under section 180(1)(c) of the Companies Act, 2013 i.e. Read More
Whether unsecured loan taken by private limited from its Directors covered under section 180(1)(c) of the Companies Act, 2013 i.e. borrowing in excess of paid up capital and free reserve and if yes, is it necessary to pass a Special Resolution before obtaining unsecured loan from directors after 11.09.2014

Views (2159)
Posted By: Revati sathe 9 year(s) ago

Answer

Section 180(1)(c) applicable to Section 8 companies? This Section is not applicable to private companies and Section 8 company Read More
Section 180(1)(c) applicable to Section 8 companies? This Section is not applicable to private companies and Section 8 company (Class:private) is eligible for privileges given to limited companies. MCA has not given any specific exemption as given under July 2015 notification. please suggest.

Views (1630)
Posted By: Abhinaya 6 year(s) ago

Answer

Dear Concern, Kindly confirm section 180 of the Co.Act 2013 which says aggregate of paid up capital and free reserves(if reserves Read More
Dear Concern, Kindly confirm section 180 of the Co.Act 2013 which says aggregate of paid up capital and free reserves(if reserves are in negative then how to treat) For eg. If paid up capital is 100Cr and free reserves -60 cr then for section 180 Will it be 100 or 40(act defines Free reserves as amount available for appropriation)

Views (1201)
Posted By: Nirmal bang financial services private limited 10 year(s) ago

Answer

If an unlisted public company wants to issue optionally convertible debentures then is it required to take approval of shareholder Read More
If an unlisted public company wants to issue optionally convertible debentures then is it required to take approval of shareholders under section 180(1)(c) relating to borrowing money in excess of aggregate of paid up and free reserves. As far as my concern, an OCD is not a borrowing bcoz a borrowing is what we have to repay the same and an OCD is going to be converted into equity shares of the Company after such period so question of repayment doesnt arises.

Views (1540)
Posted By: Focal coporate 10 year(s) ago

Section 181- Company to contribute to bona fide and charitable funds, etc.

Answer

Whether the private limited company can donate money to the charitable trust (Registered under section 12A & 80G of the IT Act) wh Read More
Whether the private limited company can donate money to the charitable trust (Registered under section 12A & 80G of the IT Act) wherein one of the director of the donating company is a trustee

Views (1049)
Posted By: Meenakshi 8 year(s) ago

Section 182- Prohibitions and restrictions regarding political contributions.

Answer

How to calculate Net profit for section 182 of the companies act , 2013 Read More
How to calculate Net profit for section 182 of the companies act , 2013

Views (2188)
Posted By: Aarti rathod 7 year(s) ago

Section 184- Disclosure of interest by director.

Answer

Sec 184 of CA 2013 states that every director shall at the first Board meeting of the Board in every financial year or whenever th Read More
Sec 184 of CA 2013 states that every director shall at the first Board meeting of the Board in every financial year or whenever there is any change in the disclosures already made, then at the first Board meeting held after such change disclose his concern or interest in any company or bodies corporate etc. Rule 9 of Companies (Meetings of Board and its powers) rules state that it is the duty of every director to cause it to be disclosed at the meeting held immediately after the date of notice. Does it imply that the director disclosing his interest in MBP 1 to the Board need not be physically present at the Board meeting? Is it enough that he ensures that the interest disclosure is considered by the Board in its meeting?

Views (1378)
Posted By: Latha 10 year(s) ago

Answer

Do we need to file Form MBP-1 as an attachment in e-form GNL-2 or certified copy stating that directors has disclosed their intere Read More
Do we need to file Form MBP-1 as an attachment in e-form GNL-2 or certified copy stating that directors has disclosed their interest is enough?

Views (1406)
Posted By: Deepak gulati 10 year(s) ago

Answer

? Do additional directors (Independent) need to disclose their interest in first board meeting held after their appointment? Read More
? Do additional directors (Independent) need to disclose their interest in first board meeting held after their appointment?

Views (2014)
Posted By: Prekshi gupta 10 year(s) ago

Answer

Whether a director has to disclose his interest in foreign companies as well in Form MBP-1? Read More
Whether a director has to disclose his interest in foreign companies as well in Form MBP-1?

Views (4240)
Posted By: Charu khatri 9 year(s) ago

Answer

Whether filing of Form MBP1 (disclosure of interest by Directors)with ROC is Mandatory or not? If it is mandatory to be filed then Read More
Whether filing of Form MBP1 (disclosure of interest by Directors)with ROC is Mandatory or not? If it is mandatory to be filed then how is the same is to be filed as an attachment to the MGT-14 or another way

Views (1345)
Posted By: Deepak gulati 10 year(s) ago

Answer

What is the nature of contract or arrangement as referred to in section 184? Is granting of loan shall covered within the meaning Read More
What is the nature of contract or arrangement as referred to in section 184? Is granting of loan shall covered within the meaning of the term" arrangements " in section 184?

Views (1130)
Posted By: Himanshu 8 year(s) ago

Answer

Section 184 requires a director to provide information about disclosures his/her interest in various contracts/arrangements entere Read More
Section 184 requires a director to provide information about disclosures his/her interest in various contracts/arrangements entered by the company. Could you please provide me definition of contract/arrangement as required by this section? also does a normal sale/purchase at arm length price do cover under this section?

Views (1766)
Posted By: Raj kumar gupta 10 year(s) ago

Answer

Whether it is necessary to receive duly filled and signed MBP-1 from all Directors before dispatch of notice for calling Board Mee Read More
Whether it is necessary to receive duly filled and signed MBP-1 from all Directors before dispatch of notice for calling Board Meeting or we simply place agenda item as " To take note of Disclosure of Interest" ( Though I am not in receipt of MBP-1 from all Directors ) and request all Directors to bring their duly signed MBP-1 at the Board Meeting.

Views (2698)
Posted By: Revati sathe 9 year(s) ago

Answer

Whether the directors of section 8 company are also required to make disclosures in MBP-1 and MGT-14 is required to be filed by Se Read More
Whether the directors of section 8 company are also required to make disclosures in MBP-1 and MGT-14 is required to be filed by Section 8 company in this regard?

Views (3059)
Posted By: Piyush 10 year(s) ago

Answer

A person who is a director of a company is not interested as director,shareholder, partner etc in any other company, firm, LLP and Read More
A person who is a director of a company is not interested as director,shareholder, partner etc in any other company, firm, LLP and other forms of AOA. Should he make disclosure to the Board in MBP1 that he is not interested in any other entity?

Views (1096)
Posted By: Latha 10 year(s) ago

Answer

As per Section 184 (1) of Companies Act 2013 a Director has to disclose his concern or interest in any company,firms etc in the fi Read More
As per Section 184 (1) of Companies Act 2013 a Director has to disclose his concern or interest in any company,firms etc in the first meeting of the Board in every financial year. The declaration is to be made in Form MBP1. When a Director furnishes such declaration in Form MBP1 to the company, does the company need to file the details of such declaration in Form MGT14? Please clarify

Views (1836)
Posted By: Mukund govindharajan 10 year(s) ago

Answer

Copy of resolution alongwith explanatory statement u/s 102 of CA 2013 is mandatorily to be attached to MGT-14. In case of BM reso Read More
Copy of resolution alongwith explanatory statement u/s 102 of CA 2013 is mandatorily to be attached to MGT-14. In case of BM resolution taking note of disclosure of interest, there will not be any explanatory statement as the same is applicable to shareholders resolution only as per Sec 102. Therefore is it ok if we attach BM resolution against the copy of resolution alongwith the explanatory statement under sec 102 stipulated in the form?

Views (3664)
Posted By: Latha 10 year(s) ago

Answer

ROC REMARKS A MGT 14 UNDER SEC 184 THAT DIN NO IN BOARD RESOLUTION IS MANDATORY WE HAVE MENTIONED DIN OF PERSON SIGNING THE RESOL Read More
ROC REMARKS A MGT 14 UNDER SEC 184 THAT DIN NO IN BOARD RESOLUTION IS MANDATORY WE HAVE MENTIONED DIN OF PERSON SIGNING THE RESOLUTION WHAT WILL BE THE FURTHER REQUIREMENT TO COMPLY .CAN WE RECTIFY THE RESOLUTION PASSED IN BOARD MEETING

Views (1743)
Posted By: Reena 10 year(s) ago

Answer

As per Sec 184 of CA 2013, every director has to make disclosure of his interest in various entities every year and the same has t Read More
As per Sec 184 of CA 2013, every director has to make disclosure of his interest in various entities every year and the same has to be considered in the first Board meeting of the financial year. MGT-14 is to be filed with respect to the disclosure considered in the Board meeting within 30 days of the Board meeting. A person is a director/member in some companies with which there is likelyhood of the company entering into contracts. The director also holds shares in many listed companies as investment. He also trades in listed shares as an investor thereby resulting in frequent changes in the holdings. Should the director disclose the details of his membership in such listed companies as well every year and subsequent to every change during the year?

Views (1583)
Posted By: Latha 10 year(s) ago

Answer

A person who is a director of a company has made disclosure in MBP 1 to the Board that he is not interested in any other form of e Read More
A person who is a director of a company has made disclosure in MBP 1 to the Board that he is not interested in any other form of entity. Should the company file MGT 14 with respect to such a disclosure?

Views (1325)
Posted By: Latha 10 year(s) ago

Answer

whether to file Form MBP-1 as an attachment with MGT-14 OR NOT Read More
whether to file Form MBP-1 as an attachment with MGT-14 OR NOT

Views (1272)
Posted By: Deepak gulati 10 year(s) ago

Answer

Does Form MBP-1 requires disclosures of shareholding being less then 2%? Further in DIR-12 of newly appointed Director , does h Read More
Does Form MBP-1 requires disclosures of shareholding being less then 2%? Further in DIR-12 of newly appointed Director , does his interest in other entity by way of shareholding requires to be disclosed even if it is less than 2%?

Views (1374)
Posted By: Kanika gupta 9 year(s) ago

Answer

!84(2) prohibits a director from voting on resolution in respect of contract or arrangement with another body corporate or firm or Read More
!84(2) prohibits a director from voting on resolution in respect of contract or arrangement with another body corporate or firm or entity in which he is interested. It does not prohibit the director from voting on appointment of additional director a person who is related to him. This is in contrast to the provisons of companies Act, 1956 under which the government has opined that directors can not participate and vote on resolution appointing a related person as a director. Is this undestanding correct?

Views (1332)
Posted By: Ram 9 year(s) ago

Section 185- Loan to directors, etc.

Answer

Can subsidiary company give loan, provide security or guarantee in favour of its holding company? Read More
Can subsidiary company give loan, provide security or guarantee in favour of its holding company?

Views (27676)
Posted By: Vishal arora 9 year(s) ago

Answer

Is LLP included in the definition of Firm under clause b of Explanation to sub-section 1 of section 185. i.e., can a private limit Read More
Is LLP included in the definition of Firm under clause b of Explanation to sub-section 1 of section 185. i.e., can a private limited company (not exempted by the recent notification) grant loan to a LLP in which a director of the Company is a designated partner.

Views (2016)
Posted By: Aakanksha 9 year(s) ago

Answer

Can a Private limited company gives loans to a partnership firm in which one of the directors of its holding company are partner. Read More
Can a Private limited company gives loans to a partnership firm in which one of the directors of its holding company are partner.

Views (1743)
Posted By: Kamlesh 9 year(s) ago

Answer

What does the omission of Rule 10 of Company (Meeting of Board and its Power) Second Amendment Rules, 2015 issued on 14 th dec. 20 Read More
What does the omission of Rule 10 of Company (Meeting of Board and its Power) Second Amendment Rules, 2015 issued on 14 th dec. 2015 means? Is the exemption over which was enjoyed by Holding and its WOS companies. Pls clarify

Views (2055)
Posted By: T.r.chadha & co. 9 year(s) ago

Answer

Whether Security Deposit given to Director for taking his premises on rent will attract section 185? Pl. Guide Thanks in Advance Read More
Whether Security Deposit given to Director for taking his premises on rent will attract section 185? Pl. Guide Thanks in Advance

Views (1757)
Posted By: Himanshu 8 year(s) ago

Answer

Whether Security Deposit given to Director for taking his premises on rent will attract section 185? Pl. Guide Thanks in Advance Read More
Whether Security Deposit given to Director for taking his premises on rent will attract section 185? Pl. Guide Thanks in Advance

Views (3096)
Posted By: Himanshu 8 year(s) ago

Answer

As per Section 185 (1) Explanation to clause (c) i.e. for IFSC Private Limited /Public Limited Co, it states that "the expression Read More
As per Section 185 (1) Explanation to clause (c) i.e. for IFSC Private Limited /Public Limited Co, it states that "the expression “to any other person in whom director is interested” means- (c) any private company of which any such director is a director or member in which director of the lending company do not have direct or indirect shareholding through themselves or through their relatives and a special resolution is passed to this effect;”. Now what is the exact impact of such amendment as introduced for IFSC Companies. Why a special resolution is required.

Views (1641)
Posted By: Amit popli 7 year(s) ago

Answer

"Section 185 shall not apply to private limited Company in whose share capital no other body corporate has invested money" How Read More
"Section 185 shall not apply to private limited Company in whose share capital no other body corporate has invested money" How the above text shall be interpreted ? either as (i) No other body corporate have invested in the shareholding of the company till date at all will qualify for exemption OR (ii) where presently no other body corporate is holding any shares in the private Company may be in past was holding shares. According to me option (i) , everyone's view solicited. Thanks in anticipation.

Views (1760)
Posted By: Megha agrawal 9 year(s) ago

Answer

The company is a private limited company and has given guarantee for the company having common director. At the time of giving gua Read More
The company is a private limited company and has given guarantee for the company having common director. At the time of giving guarantee, the company did not have the corporate body shareholders and hence was exempt from section 185. However, now the company wish to issue shares to corporate body. Will this have any impact on the guarantee already given? Thanks in advance.

Views (1424)
Posted By: Ekta shah 9 year(s) ago

Answer

what do v mean by the term " loan represented by book debt" under section 185? please clarify. Read More
what do v mean by the term " loan represented by book debt" under section 185? please clarify.

Views (7517)
Posted By: Vishal arora 9 year(s) ago

Answer

Loan by Given by Holding Company to Subsidiary company prior to 13-09-2013 & covered under section 185. Whether such loans need to Read More
Loan by Given by Holding Company to Subsidiary company prior to 13-09-2013 & covered under section 185. Whether such loans need to be repaid prior to 13-09-2013 . Whether there is any Transition provision.

Views (1514)
Posted By: Himanshu 9 year(s) ago

Answer

Section 185 says: No company can give loan to directors/person interested in directors including loan by way of book debt. So if o Read More
Section 185 says: No company can give loan to directors/person interested in directors including loan by way of book debt. So if one want to sell goods on credit to other private limited company (the directors and some shareholders are same) then is it possible under new Act ? Section 188: Related Party transaction is also related to same as it says : Company can enter in to any contract to sell goods or services to related prices with the Board Resolution (in some cases with special resolution) and this permission only to be taken when price is not arm length price. So section 188 permits company to sell goods (on cash/credit) to related party subject to Board/Special Resolution. Is this both section conflicting ? Kindly give views/replies on this.

Views (1624)
Posted By: Karan bhatt 11 year(s) ago

Answer

As per new companies act, can public limited company provide corporate guarantee to its subsidiary (public limited company) for av Read More
As per new companies act, can public limited company provide corporate guarantee to its subsidiary (public limited company) for availing loan??

Views (1604)
Posted By: Mohit 11 year(s) ago

Answer

complete explanation to ordinary course of business Read More
complete explanation to ordinary course of business

Views (1283)
Posted By: Aditi verma 10 year(s) ago

Answer

Does refundable lease/Rental deposit - refundable and adjusted against the future rents falls under the term loan under section 18 Read More
Does refundable lease/Rental deposit - refundable and adjusted against the future rents falls under the term loan under section 185 of Companies Act, 2013

Views (1382)
Posted By: Sandhya 10 year(s) ago

Answer

There are outstanding amounts of unsecured loans out of the agreements prior to 12/09/2013, in a private limited company. Can it Read More
There are outstanding amounts of unsecured loans out of the agreements prior to 12/09/2013, in a private limited company. Can it continue? Further, the agreement cites an upper limit which can be extended in one or more trench. If the upper limit of the amount is not reached, can it extend the loan, though it falls under the purview of 185.

Views (1287)
Posted By: Sandhya 10 year(s) ago

Answer

Loan from one Pvt. Co to another with common Director to the tune of 20 Cr under CA 1956. Exempted under Sec 295 then but covered Read More
Loan from one Pvt. Co to another with common Director to the tune of 20 Cr under CA 1956. Exempted under Sec 295 then but covered under 185 now. Can the company continue the loan?. Will the position be different if person became the Director of the borrowing company after the transaction?.

Views (1189)
Posted By: Lalitha kannan 10 year(s) ago

Answer

Can a Director obtain loan from his Private Limited Company? Read More
Can a Director obtain loan from his Private Limited Company?

Views (1455)
Posted By: Akansha 10 year(s) ago

Answer

A holding company given loan to its wholly owned subsidiary under old Act, but as per the provisions of Companies Act, 2013, holdi Read More
A holding company given loan to its wholly owned subsidiary under old Act, but as per the provisions of Companies Act, 2013, holding company can give loan to its wholly owned subsidiary and that loan shall be utilized only for principal business activities, unfortunately the loan is not utilized for principal activities and subsidiary is short funds to repay back the loan amount, suggest what option do company have in present?

Views (1563)
Posted By: Akansha 10 year(s) ago

Answer

Loan by Given by Holding Company to Subsidiary company prior to 13-09-2013 & covered under section 185. Whether such loans need to Read More
Loan by Given by Holding Company to Subsidiary company prior to 13-09-2013 & covered under section 185. Whether such loans need to be repaid prior to 13-09-2013 . Whether there is any Transition provision.

Views (1703)
Posted By: Himanshu 9 year(s) ago

Answer

Under Section 185 – Can a Private Limited Company give any guarantee to other private limited company in which directors are same? Read More
Under Section 185 – Can a Private Limited Company give any guarantee to other private limited company in which directors are same? Please clarify.

Views (2326)
Posted By: Sunil kumar agrawal 9 year(s) ago

Answer

Under Section 185 – Can a Private Limited Company give any guarantee to other private limited company in which one Shareholder is Read More
Under Section 185 – Can a Private Limited Company give any guarantee to other private limited company in which one Shareholder is same? Please clarify.

Views (4368)
Posted By: Sunil kumar agrawal 9 year(s) ago

Answer

Under Section 185 – Can a Private Limited Company give any guarantee to other private limited company in which directors/sharehold Read More
Under Section 185 – Can a Private Limited Company give any guarantee to other private limited company in which directors/shareholders are NOT SAME but relatives as per definition of section 2 (77) of Companies Act, 2013? Please clarify.

Views (4898)
Posted By: Sunil kumar agrawal 9 year(s) ago

Answer

Under 185 (1) explanation (c), does the words "private company" also include a private company which is a subsidiary of public lim Read More
Under 185 (1) explanation (c), does the words "private company" also include a private company which is a subsidiary of public limited company. Pls clarify at the earliest.

Views (1410)
Posted By: Sandhya 9 year(s) ago

Answer

In view of the clarification received from MCA vide General Circular 05/2015 dated 30.0.3.2015, can we conclude that any Inter Cor Read More
In view of the clarification received from MCA vide General Circular 05/2015 dated 30.0.3.2015, can we conclude that any Inter Corporate Deposits wherein the Directors are interested received prior to the notification of the section 185 i.e 12.09.2013 are also exempted ??

Views (1858)
Posted By: V. ramkumar 9 year(s) ago

Answer

In view of latest notifiction dt. 05/06/2015 where one Private Limited can give loan to other wheein the directors are common? Read More
In view of latest notifiction dt. 05/06/2015 where one Private Limited can give loan to other wheein the directors are common?

Views (1463)
Posted By: Ratanshi khatau tanna 9 year(s) ago

Answer

The issue is : one private Limited company say A gives loan to another Private Limited company say B. Both this company have no co Read More
The issue is : one private Limited company say A gives loan to another Private Limited company say B. Both this company have no common Director or shareholder, but the Directors of the One company is relative of others and further B is the shareholder of A limited ( Not to the extent of associate company). Now is A private Limited is giving loan to B Private Limited my opinion 1. A Private limited and B Private Limited is not related party. ( sec (2) (76) 2. Section 185- not applicable. ( as Director of one company is not Director or member in other company.) 3. Section 184(2) not applicable ( same logic as above) 4. Section 188 is not applicable ( as not related party) 5. and thus not cover u/s 189 thus transaction is not required to report in CARO for loan granted to parties listed in 189 it may coverunder u/s 186 as far as other provision is concern. please give ur expert opinion on the matter.

Views (1000)
Posted By: Cs ram thakkar 9 year(s) ago

Answer

a NBFC co.had given loan to director out standing as on 30/08/2013 and continued till date whether it is necessary to charge inter Read More
a NBFC co.had given loan to director out standing as on 30/08/2013 and continued till date whether it is necessary to charge interest @ Bank rate as per New co act or continue @less than bank rate till 31 March 2014

Views (1412)
Posted By: Purushottam lal agrawal 10 year(s) ago

Answer

u/s 185 loan can be given to MD/WD pursuant to special resolution passed by members. Does this mean that the company can pass a sp Read More
u/s 185 loan can be given to MD/WD pursuant to special resolution passed by members. Does this mean that the company can pass a special resolution and go ahead with extending loan/gurarantee to MD/WD

Views (1665)
Posted By: Bhasi 11 year(s) ago

Answer

Loan by Given by Holding Company to Subsidiary company prior to 13-09-2013 & covered under section 185. Whether such loans need to Read More
Loan by Given by Holding Company to Subsidiary company prior to 13-09-2013 & covered under section 185. Whether such loans need to be repaid prior to 13-09-2013 . Whether there is any Transition provision.

Views (1555)
Posted By: Himanshu 9 year(s) ago

Answer

Sir / Madam, As per exemption available u/s 185 - X Private Limited company has advanced loans to its directors. X Private Read More
Sir / Madam, As per exemption available u/s 185 - X Private Limited company has advanced loans to its directors. X Private Limited is to be taken over by the Y Private Limited to make it Y's subsidiary. After taken over by Y Pvt Ltd. whether it is a violation of section 185 for earlier advances ? OR Will it be ban for future advances to directors ? Kindly reply.

Views (1260)
Posted By: Atul kulkarni 9 year(s) ago

Answer

Whether Wholly owned subsidiary / subsidiary (with common Directors) can give loan to its Holding Company? Read More
Whether Wholly owned subsidiary / subsidiary (with common Directors) can give loan to its Holding Company?

Views (827)
Posted By: Kavita 7 year(s) ago

Answer

A director in a private company is also a director in another private company (common directorship) and he disclosed his interest Read More
A director in a private company is also a director in another private company (common directorship) and he disclosed his interest pursuant to Sec.184(1) of Companies Act, 2013. If any one Company is providing loans or advances to other Private Companies in which Director is interested, In such case, whether lending company is required to Comply with the exemption given to private Company under section 185 of Companies Act, 2013 or not ??? if in case both Companies are public Company , whether they can enter into such transaction (i.e. Loans & Advances) if Directors are Common ??

Views (1355)
Posted By: Arun rajabhau joshi 8 year(s) ago

Section 186- Loan and investment by company.

Answer

Hi everyone, Please Clarify -"A"Private limited has taken loan from "B"Private limited which is not related to"A"Private limited. Read More
Hi everyone, Please Clarify -"A"Private limited has taken loan from "B"Private limited which is not related to"A"Private limited. And Now "A"Private limited want to invest in the equity shares of "C" Private company which is related to "A"Private limited i.e. one of the director is common in both private companies -"A" &"C". Can "A"Private limited invest in "C"Private limited? If yes, than upto what limit? Is there any upper limit for authorization by passing SR?

Views (1633)
Posted By: Dhavneesh gupta 9 year(s) ago

Answer

WHOLE SECTION EXPLANATION SIR PROVIDE Read More
WHOLE SECTION EXPLANATION SIR PROVIDE

Views (1286)
Posted By: Radhey 9 year(s) ago

Answer

Does section 186(1) of companies act 2013 applicable to inter corporate borrowing? Read More
Does section 186(1) of companies act 2013 applicable to inter corporate borrowing?

Views (1606)
Posted By: Sridhar 8 year(s) ago

Answer

Whether provisions of section 186 of the Co Act 2013 are applicable even in case of issue of Optionally convertible debentures? Is Read More
Whether provisions of section 186 of the Co Act 2013 are applicable even in case of issue of Optionally convertible debentures? Is it still possible to issue OCD at zero / nominal coupon rate ?

Views (1683)
Posted By: Vishwas panjiar 10 year(s) ago

Answer

Even as per recent Circular No. 18/2013 dated 19-11-2013, the Ministry of Corporate Affairs has issued a clarification with regard Read More
Even as per recent Circular No. 18/2013 dated 19-11-2013, the Ministry of Corporate Affairs has issued a clarification with regard to applicability of provision of Section 372A of the Companies Act, 1956 on account of number of representations received consequent upon notifying Section 185 of the Companies Act, 2013 dealing with loans to directors which is corresponding to Section 295 of the Companies Act, 1956. It was candidly clarified in the said Circular that Section 372A of the Companies Act, 1956 dealing with inter-corporate loans continue to remain in force till Section 186, of the Companies Act, 2013 is notified.What is the position now as section 186 already notified?

Views (1610)
Posted By: Kamlesh 10 year(s) ago

Answer

Whether loan to employee covered under this section? Whether loan to employee require Board approval? Whether minimum rate of inte Read More
Whether loan to employee covered under this section? Whether loan to employee require Board approval? Whether minimum rate of interest is chargeable for loan to employee. (employee referred here is not director KMP)

Views (5073)
Posted By: Hitender tanwar 10 year(s) ago

Answer

Can a company accept Interest Free Loan from another unrelated Company. Is there be any violation for loan receiver under section Read More
Can a company accept Interest Free Loan from another unrelated Company. Is there be any violation for loan receiver under section 73-76, 186 or any other section. Kindly confirm.

Views (2395)
Posted By: Amit nowlakha 10 year(s) ago

Answer

Can the Board pass a general resolution u/s 186 of Companies Act,2013 specifying the max. amount of loan that can be granted by th Read More
Can the Board pass a general resolution u/s 186 of Companies Act,2013 specifying the max. amount of loan that can be granted by the company to its employees, instead of passing specific board resolution everytime on case to case basis as it creates very much practical difficulties?

Views (1706)
Posted By: Kanika gupta 10 year(s) ago

Answer

Does a private company needs to ratify its investments by means of a special resolution u/s 186 of the Companies Act,2013? Read More
Does a private company needs to ratify its investments by means of a special resolution u/s 186 of the Companies Act,2013?

Views (1973)
Posted By: Kanika gupta 9 year(s) ago

Answer

Hi can a private limited 100% subsidiary company can give corporate guarantee to a bank to secure a loan santioned to its holding Read More
Hi can a private limited 100% subsidiary company can give corporate guarantee to a bank to secure a loan santioned to its holding co (private) when all the three directors of both the companies are same/common

Views (1247)
Posted By: Anita 9 year(s) ago

Answer

Does salary advance / loan given to employee of the Company falls within the ambit of Section 186? Read More
Does salary advance / loan given to employee of the Company falls within the ambit of Section 186?

Views (2063)
Posted By: Aakanksha 9 year(s) ago

Answer

A Private Limited Company had extended inter-corporate interest free loan for a tenure of 10 years to its Listed Subsidiary Compan Read More
A Private Limited Company had extended inter-corporate interest free loan for a tenure of 10 years to its Listed Subsidiary Company during May 2013. What is the position of such loan under new Act since Section 186 is applicable to Private Limited Company also.

Views (1663)
Posted By: N ramakrishna rao 9 year(s) ago

Answer

As Section 186 includes loan to any person, please clarify is it possible to give loan or advance against salary to any employees Read More
As Section 186 includes loan to any person, please clarify is it possible to give loan or advance against salary to any employees of the company without approval of the Board or without interest ? These advance against salary may be deductible/adjusted from the employees monthly salary over a period of 2-3 years.

Views (1623)
Posted By: Kundan kumar jha 10 year(s) ago

Answer

Does an investment by a company into the capital of a partnership firm (not an LLP) attract 186(2) Read More
Does an investment by a company into the capital of a partnership firm (not an LLP) attract 186(2)

Views (1645)
Posted By: Sudhakar raman 9 year(s) ago

Answer

Can a private limited company give loan to its wholly owned subsidiary? Read More
Can a private limited company give loan to its wholly owned subsidiary?

Views (1247)
Posted By: Nirupama v 9 year(s) ago

Answer

Does section 186(1) of companies act 2013 applicable to inter corporate borrowing? Read More
Does section 186(1) of companies act 2013 applicable to inter corporate borrowing?

Views (1671)
Posted By: Sridhar 8 year(s) ago

Answer

Does section 186(1) of companies act 2013 applicable to inter corporate borrowing? Read More
Does section 186(1) of companies act 2013 applicable to inter corporate borrowing?

Views (1633)
Posted By: Sridhar 8 year(s) ago

Answer

Does section 186(1) of companies act 2013 applicable to inter corporate borrowing? Read More
Does section 186(1) of companies act 2013 applicable to inter corporate borrowing?

Views (1605)
Posted By: Sridhar 8 year(s) ago

Section 188- Related party transactions.

Answer

Provisio to Section 188 (1) provides that no member of the Company shall vote on such special resolution , if such member is a rel Read More
Provisio to Section 188 (1) provides that no member of the Company shall vote on such special resolution , if such member is a related party. Where all members are interested in a resolution then how such contract or arrangement will be approved?

Views (2291)
Posted By: Vikas gupta 10 year(s) ago

Answer

Hi in one Private limited company there are only two Directors and they are only shareholders. The Company proposes to enter relat Read More
Hi in one Private limited company there are only two Directors and they are only shareholders. The Company proposes to enter related party transactions with a Firm in which such both Directors and shareholders are partners in that Firm. Please let me know company can pass special resolution in this case ? b/c third prov of section 188 say that no member of the company shall vote on such special resolution to approve contract or arrangment which may be entered into by the company, if such member is a related party ?

Views (2641)
Posted By: Vasant patel 10 year(s) ago

Answer

In case of a pvt company incorporated in year 2014, the first year of operation is 2014-15 and there is no question of preceding y Read More
In case of a pvt company incorporated in year 2014, the first year of operation is 2014-15 and there is no question of preceding year. In such case how to ascertain if the limits under Sec 188 read with relevant rules have exceeded?. The % are to be applied on the turnover, networth etc of preceding year which is not there in case of a newly incorporated company.

Views (2110)
Posted By: Latha 8 year(s) ago

Answer

Can a resolution be passed by Board of Directors of a private Company for one time approval of RPT transactions up to a certain l Read More
Can a resolution be passed by Board of Directors of a private Company for one time approval of RPT transactions up to a certain limit or else the Board is required to approve every single transactions that occur in the due course.????

Views (1684)
Posted By: Suresh 9 year(s) ago

Answer

If a company has only Husband and wife as Directors then we can not appoint their son as a CEO of the company as the Board is not Read More
If a company has only Husband and wife as Directors then we can not appoint their son as a CEO of the company as the Board is not able to pass the resolution (lack of disinterested quorum but can we appoint him as an executive Director on the Board and pay him remuneration for that?

Views (1711)
Posted By: Anita 10 year(s) ago

Answer

If a company has only Husband and wife as Directors as well as shareholders then we can not appoint their son as a CEO of the comp Read More
If a company has only Husband and wife as Directors as well as shareholders then we can not appoint their son as a CEO of the company as the Board is not able to pass the resolution (lack of disinterested quorum but can we appoint him as an executive Director on the Board and pay him remuneration for that?

Views (1715)
Posted By: Anita 10 year(s) ago

Answer

Rules 15(3) (ii) (a) of the Companies (Meetings of Board and its Powers) Rules, 2014, specify threshold limit for related party tr Read More
Rules 15(3) (ii) (a) of the Companies (Meetings of Board and its Powers) Rules, 2014, specify threshold limit for related party transactions namely: - Sale, purchase or supply of any good or materials, Selling or otherwise disposing of or buying, property of any kind, Leasing of property of any kind etc. - Limit is 10% of Turnover or Rs. 100 Crores whichever is lower. My questions Is this limit apply for the transactions with individual related party or all related parties together? Suppose the company proposes to entered into related party transactions with Three Parties A,B, C and Individual amount of transactions P.A. with A- is Rs. 2 Crores, B- is Rs. 5 Crores and C- is Rs. 10 Crores. If we consider threshold limit per related party then in this case, only C is cover under the threshold limit prescribed under the rule, then should company require to obtain approval of shareholders for related party transactions with “C” only and for A and B Board approval is suffice ?

Views (2262)
Posted By: Vasant patel 9 year(s) ago

Answer

If a pvt company takeover the business of a partnership firm, will sec 188 will b applicable if the Directors of the company are a Read More
If a pvt company takeover the business of a partnership firm, will sec 188 will b applicable if the Directors of the company are also partners in the firm?

Views (1673)
Posted By: Anita 9 year(s) ago

Answer

Hello can some one clarify on the contract / agreement which are executed with the related parties prior to applicability of Compa Read More
Hello can some one clarify on the contract / agreement which are executed with the related parties prior to applicability of Companies Act 2013 that is Apr 01 2014, is board approval or share holders approval is required to be taken under the new Companies Act 2013, kindly clarify.

Views (1439)
Posted By: Ujwal accounts 10 year(s) ago

Answer

A closely held public company has 7 members. The Company proposes to get a special resolution passed for approving related party t Read More
A closely held public company has 7 members. The Company proposes to get a special resolution passed for approving related party transaction as per section 188. 6 out of the 7 members are interested. Given that interested members are not entitled to vote on the resolution under section 188, can the remaining member alone approve the resolution. Will that dis-interested member alone be treated as valid quorum or should there be at least 5 dis-interested members for the meeting to go on and the resolution to be passed.

Views (1385)
Posted By: Arun kumar 10 year(s) ago

Answer

whether member who is related party can vote on proposed contract with another related party u/s 188 Read More
whether member who is related party can vote on proposed contract with another related party u/s 188

Views (1841)
Posted By: Chandr sekhar 10 year(s) ago

Answer

Where the Service rendering transactions value exceeds 10% of the Net worth- Whether Special Resolution required for transactions Read More
Where the Service rendering transactions value exceeds 10% of the Net worth- Whether Special Resolution required for transactions pursuant to rate contracts which are already entered into before 31.3.2014?

Views (1346)
Posted By: Manouj agrawaal, fca, partner 10 year(s) ago

Answer

In a private company which is a subsidiary of a foreign company. Under companies act 1956 transaction with foreign companies were Read More
In a private company which is a subsidiary of a foreign company. Under companies act 1956 transaction with foreign companies were exempted under the New companies act, are these exemptions still available or they are covered under RPT

Views (1773)
Posted By: Garima 10 year(s) ago

Answer

S.188 - is not applicable for ordinary course of business transactions carried out at arm’s length basis. A co sells ordinarily tr Read More
S.188 - is not applicable for ordinary course of business transactions carried out at arm’s length basis. A co sells ordinarily traded goods to B co at market prices. Both co are related with common members, common directors. Is this transaction exempt for [a] registration of resolutions with MCA [b] disclosure of directors’ interest [c] approval by members by special resolution

Views (1496)
Posted By: Saravanan 10 year(s) ago

Answer

WHAT APPROVALS SHOULD WE TAKE IN RELATION TO A PRIVATE COMPANIES UNDER SECTION 188 ,181,184 ETC AS NOTIFICATION UNDER SECTION 462 Read More
WHAT APPROVALS SHOULD WE TAKE IN RELATION TO A PRIVATE COMPANIES UNDER SECTION 188 ,181,184 ETC AS NOTIFICATION UNDER SECTION 462 IS STILL PENDING

Views (1252)
Posted By: Reena 10 year(s) ago

Answer

This has reference to General Circular No. 30/2014 relating to section 188 (Related Party Transactions). A and B are shareholders Read More
This has reference to General Circular No. 30/2014 relating to section 188 (Related Party Transactions). A and B are shareholders in a Company. A is the holding company of B (i.e. B is the subsidiary of A). For the resolution at the general meeting held to approve a related party transaction between the Company and B, can A vote for the resolution

Views (1259)
Posted By: Arun kumar 10 year(s) ago

Answer

We have some ongoing related party transactions in ordinary course of business at arm's length price. Please provide a sample reso Read More
We have some ongoing related party transactions in ordinary course of business at arm's length price. Please provide a sample resolution to be taken in Audit Committee for these related party transactions.

Views (2018)
Posted By: Kishor 10 year(s) ago

Answer

Will contribution made to a NGO for creating awareness on HIV aids, tentamount to Related Party Transaction, if the Chairperson of Read More
Will contribution made to a NGO for creating awareness on HIV aids, tentamount to Related Party Transaction, if the Chairperson of the NGO is relative of one of the Directors. If yes, in what provision. And if no, will any section of the Act apply to this contribution.

Views (1422)
Posted By: Khushboo 10 year(s) ago

Answer

Mr. A is Director in ABc Pvt Ltd and holds more than 2 % shares in XYZ Pvt. Ltd. ABC Pvt. Ltd. purchased shares of XYZ Pvt. Ltd i Read More
Mr. A is Director in ABc Pvt Ltd and holds more than 2 % shares in XYZ Pvt. Ltd. ABC Pvt. Ltd. purchased shares of XYZ Pvt. Ltd in the year 2013.Will Section 188 apply?

Views (1750)
Posted By: Ravi 9 year(s) ago

Answer

Whether Section 188 is applicable for Foreign Subsidiary? Regards Raja Read More
Whether Section 188 is applicable for Foreign Subsidiary? Regards Raja

Views (2254)
Posted By: Rajapanduranga 9 year(s) ago

Answer

whether any related party transactions entered before 01/04/2014 will attract the provisions of Section 188 of the Companies act, Read More
whether any related party transactions entered before 01/04/2014 will attract the provisions of Section 188 of the Companies act, 2014

Views (1647)
Posted By: Revati sathe 9 year(s) ago

Answer

with reference to my earlier question Section 188 -- related party transactions are applicable after 01/04/2014, and as per your a Read More
with reference to my earlier question Section 188 -- related party transactions are applicable after 01/04/2014, and as per your answer resolution should be passed after 01st Sep. 13 to 31st March 2014, but leasing of property of any kind was not included in the Companies act, 1956 and this section 188 implemented from 01/04/2014, now my questions (1) When any shop owned by one of the Director was shown as Registered Office , but no rent was paid by the Company to the Director and not proper lease agreement was also executed , but NOC for using premises as Registered Office was filed at the time of incorporation-- whether it attracts provision of Section 188. ( if no rent was given by the Company to Director) (2) what will be situation if rent was given to Director by the Company ( But no proper lease agreement as the company is using premises since incorporation and this transaction was not covered under old act ) --- whether to discontinue giving of rent or to pass resolution ( but under Old Companies act, 1956 or New Companies act, 2014 because only husband and wife are member and Director , no non-interest director was on the Board)

Views (1620)
Posted By: Revati sathe 9 year(s) ago

Answer

1) One of our client is a private limited company ; Their shareholders are body incorporated outside India who holds close to 100% Read More
1) One of our client is a private limited company ; Their shareholders are body incorporated outside India who holds close to 100%. The two directors are common in both and they do not hold any shares either in company incorporated in India and outside India. Could you pl clarify the following: a) whether body corporate who holds close to 100% falls under holding company b) whether related party is applicable u/s188 despite having common directors. 2) Further exemptions have been give under 196(4) (5) ; can we construe that sec 197 is not applicable to private limited company

Views (1642)
Posted By: Balachandran 9 year(s) ago

Answer

Dear Everyone, If a person is providing professional service to a pvt company (e.g. ROC Compliance's) and now the company desires Read More
Dear Everyone, If a person is providing professional service to a pvt company (e.g. ROC Compliance's) and now the company desires to appoint him as a director. Can Company do so? or it falls under related party transactions? Thanks in advance.

Views (1783)
Posted By: Pooja garg 10 year(s) ago

Answer

A newly incorporated private company has entered a rpt. How to calculate the threshold limit for shareholders approval under secti Read More
A newly incorporated private company has entered a rpt. How to calculate the threshold limit for shareholders approval under section 188 read with rules in absence of audited figures and also can the same be ratified by the Board as mentioned in section 188(3) within three months of contract?

Views (990)
Posted By: Vibha 8 year(s) ago

Answer

can independent director of holding company be a independent director in subsidiary company (not wholly owned subsidiary)? Read More
can independent director of holding company be a independent director in subsidiary company (not wholly owned subsidiary)?

Views (1431)
Posted By: Megha 7 year(s) ago

Answer

A company has two subsidiaries in one it holds 100% share capital and in other around 70% shares are in the holding company's name Read More
A company has two subsidiaries in one it holds 100% share capital and in other around 70% shares are in the holding company's name and rest 30 % in the Director's name, which are common in all the three companies.Now for the finalisation of accounts consolidated Financial statements will be made of all the three companies but will the transactions/loans etc held between the holding company and its 2nd subsidiary which is not a 100% subsidiary will attract section 185 and 188 as at the date of balance sheet i.e. 31st march'2015.all the three companies are in the real estate development business and therefore use to do business collectively means to say one has the land the other develops it and the third may done the construction part. can we treat their work division as done in the ordinary course of business at arm's length or a resolution is required to be passed. The capital of all the three is below 10 crs.

Views (1245)
Posted By: Anita 9 year(s) ago

Answer

Pls brief about the amendments which came on 14th Dec 2015, and the impact of the same Read More
Pls brief about the amendments which came on 14th Dec 2015, and the impact of the same

Views (1910)
Posted By: T.r.chadha & co. 9 year(s) ago

Answer

Hi in one Private limited company there are only two Directors and they are only shareholders. The Company proposes to enter relat Read More
Hi in one Private limited company there are only two Directors and they are only shareholders. The Company proposes to enter related party transactions with a Firm in which such both Directors and shareholders are partners in that Firm. Please let me know company can pass special resolution in this case ? b/c third prov of section 188 say that no member of the company shall vote on such special resolution to approve contract or arrangment which may be entered into by the company, if such member is a related party ?

Views (2289)
Posted By: Vasant patel 10 year(s) ago

Answer

son in law of whole time director of a listed company purchased shares of the listed company. is it a related party transaction un Read More
son in law of whole time director of a listed company purchased shares of the listed company. is it a related party transaction under section 188 of CA 2013, insider trading regulations?

Views (1723)
Posted By: Kamdhenu ispat limited 10 year(s) ago

Answer

It means we hv to appoint (also two new shareholders) two more Directors to hv a disinterested quorum to pass the takeover related Read More
It means we hv to appoint (also two new shareholders) two more Directors to hv a disinterested quorum to pass the takeover related all the resolutions

Views (1633)
Posted By: Anita 9 year(s) ago

Answer

This has reference to General Circular No. 30/2014 relating to section 188 (Related Party Transactions). A and B are shareholders Read More
This has reference to General Circular No. 30/2014 relating to section 188 (Related Party Transactions). A and B are shareholders in a Company. A is the holding company of B (i.e. B is the subsidiary of A). For the resolution at the general meeting held to approve a related party transaction between the Company and B, can A vote for the resolution.

Views (1374)
Posted By: Arun kumar 10 year(s) ago

Section 192- Restriction on non-cash transactions involving directors.

Answer

The Director of the Company taking over Debtors of the Company. In effect loan given by the Director in the Company reduce to the Read More
The Director of the Company taking over Debtors of the Company. In effect loan given by the Director in the Company reduce to the corresponding reduction in Debtor of the Company. Whether such transaction fall within the purview of section 192 - Non cash transactions involving Directors.

Views (1295)
Posted By: Sandeep gandhi 8 year(s) ago

Section 196- Appointment of managing director, whole-time director or manager.

Answer

A pvt co has appointed a WTD on 1.4.2014 in the BM subject to the approval of shareholders in the next shareholders meeting. The Read More
A pvt co has appointed a WTD on 1.4.2014 in the BM subject to the approval of shareholders in the next shareholders meeting. The EGM was held on 1.5.2014 wherein the appt has been approved by the members. As per Sec 196 MR1 is to be filed within 60 days of such appointment. MR1 corresponds to Form 25C under CA 1956. So should we file MR1 twice in the case, ie once on approval by the Board and second post approval by the shareholders?. If yes, will the effective date of appointment in both the MR1 be 1.4.2014?. I suppose the effective date of appointment is treated as the date of event for calculation of fees.

Views (1053)
Posted By: Latha 10 year(s) ago

Answer

In case of a person above 70 yrs appointed as MD with shareholders approval by way of spl resolution if the remuneration is increa Read More
In case of a person above 70 yrs appointed as MD with shareholders approval by way of spl resolution if the remuneration is increased subsequently, is there necessity to file any other eform apart from MGT14 for BM resolution approving the increase of remuneration?

Views (1278)
Posted By: Latha 9 year(s) ago

Answer

CAN A PUBLIC LIMITED COMPANY APPOINT MORE THAN ONE MANAGING DIRECTOR IN A COMPANY? PLEASE CLARIFY.. Read More
CAN A PUBLIC LIMITED COMPANY APPOINT MORE THAN ONE MANAGING DIRECTOR IN A COMPANY? PLEASE CLARIFY..

Views (1586)
Posted By: Sunil kumar agrawal 9 year(s) ago

Answer

Is Form DIR 12 required to be filed for re-appointment of a whole-time director in a private limited company as per the provisions Read More
Is Form DIR 12 required to be filed for re-appointment of a whole-time director in a private limited company as per the provisions of section 196 of the CA2013?

Views (8050)
Posted By: Vijay shankar 8 year(s) ago

Answer

A company has filed Form MR-2 for re-appointment of Managing Director. After receiving the Central Government's approval letter fo Read More
A company has filed Form MR-2 for re-appointment of Managing Director. After receiving the Central Government's approval letter for appointment, is MR-1 required to be filed with Registrar of Companies.

Views (1616)
Posted By: Prerna kapoor 8 year(s) ago

Answer

Appointment of Non-KMP in a public limited co. u/s 196 and within schedule V of the Act with Ordinary resolution. Then why MGT-14 Read More
Appointment of Non-KMP in a public limited co. u/s 196 and within schedule V of the Act with Ordinary resolution. Then why MGT-14 is complusory for MR-1 and which section attract to file MGT-14. Pl. advise.

Views (973)
Posted By: Amod kumar jha 7 year(s) ago

Answer

If a person appointed u/s 196 and not u/s 203 reason being, KMP is not applicable and Co. is a public Ltd. Co and remuneration pai Read More
If a person appointed u/s 196 and not u/s 203 reason being, KMP is not applicable and Co. is a public Ltd. Co and remuneration paid to the WTD (Non-KMP) is within limit as per Schedule V and Ordinary Resolution is passed. then MR-1 is required to be filed but for this, SRN of MGT-14 is required. Please let me know under which section MGT-14 is to be filed because Section 117 is not applicable as matter is OR and not covered under section 179 and rules made thereunder. Hope you will reply as early as possible because no professional advised me in this regard.

Views (1827)
Posted By: Amod kumar jha 7 year(s) ago

Answer

Dear Members, Form DIR 12 & MR-1 are required to be filed for re-appointment of a Managing director in a listed company as per Read More
Dear Members, Form DIR 12 & MR-1 are required to be filed for re-appointment of a Managing director in a listed company as per the provisions of section 196 of the CA2013? Post Board meeting and Post AGM forms to be filed? Regards, Shivam

Views (240)
Posted By: Shivam 5 month(s) ago

Answer

can we appoint Whole Time Director since incorporation? Read More
can we appoint Whole Time Director since incorporation?

Views (1576)
Posted By: Sachin soni 9 year(s) ago

Answer

In case of revision of remuneration of MD, whether section 196 is applicable? Section 196(4) is subject to provisions of Sec 197 a Read More
In case of revision of remuneration of MD, whether section 196 is applicable? Section 196(4) is subject to provisions of Sec 197 and Sch V. Sec 197 seems to apply only for public companies and Sch V is subject to Sec 197. On a collective reading whether shareholder resolution/C approval is required for revision of MD remuneration? Pls advise

Views (1338)
Posted By: Soumya 10 year(s) ago

Section 197- Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits.

Answer

Whether the provisions related to Managerial rumeneration be applicable to private company? Read More
Whether the provisions related to Managerial rumeneration be applicable to private company?

Views (4269)
Posted By: Vishwas panjiar 10 year(s) ago

Answer

Can any one pls provide a draft format for appointment of a Whole Time Director and payment of remuneration under Schedule V of Co Read More
Can any one pls provide a draft format for appointment of a Whole Time Director and payment of remuneration under Schedule V of Companies Act,2013. Further a company to which the provisions of Sec 203 are not applicable is appointing a WTD , does it is mandatory for the company to designate that person as KMP also and cover that section in resolution for appointment of WTD? .

Views (1753)
Posted By: Kanika gupta 10 year(s) ago

Answer

Can a Pvt. Ltd. Company and Unlisted Closely held Public Limited Company pay remuneration to its Ordinary Director(other than M.D/ Read More
Can a Pvt. Ltd. Company and Unlisted Closely held Public Limited Company pay remuneration to its Ordinary Director(other than M.D/WTD) on Monthly, Quartly or yearly basis apart from 1% or 3% of Net Profit as provided under Section 197 of The Companies Act, 2013????

Views (3054)
Posted By: Vasant patel 9 year(s) ago

Answer

A Pvt. Ltd. Company has Appointed MD for indefinite period w.e.f. 01/04/09, i.e. before commencement of Co. Act, 2013 at Salary of Read More
A Pvt. Ltd. Company has Appointed MD for indefinite period w.e.f. 01/04/09, i.e. before commencement of Co. Act, 2013 at Salary of Rs.1 Lacs, please clarify 1) If Company proposes to Increase Salary of MD from Rs. 1 to 2 Lacs after commencement of Com. Act, 2013, then increase in salary is required approval of members ? b/c provisions of section 197 of Com. Act 2013 in respect of Salary. its limits, revision of Salary etc. is applicable to public Ltd. company only?

Views (1861)
Posted By: Vasant patel 9 year(s) ago

Answer

Is Schedule V of Companies Act, 2013 applicable to Pvt. Ltd. company for appointment, re-appointment, remuneration of MD/WD ? Read More
Is Schedule V of Companies Act, 2013 applicable to Pvt. Ltd. company for appointment, re-appointment, remuneration of MD/WD ?

Views (3342)
Posted By: Vasant patel 9 year(s) ago

Answer

If the Article of Association of any Company doesn't have any clause/ provision regarding the payment of sitting fees to the Direc Read More
If the Article of Association of any Company doesn't have any clause/ provision regarding the payment of sitting fees to the Directors of the Company, Can we pay sitting fees to the director without amending the Article of association? Or there is a need to Amend the AOA. Further could you please also let us know, which provision of Table A (old Act) and Table F (new Act) gives the reference w.r.t. the payment of sitting fees to the directors. We would really appreciate a quick reply to our query. Thanks

Views (1987)
Posted By: Pradeep chugh 9 year(s) ago

Answer

A private ltd.co,which currently has 2 non-resident directors ( no salary drawn), proposes to appoint an existing employee drawing Read More
A private ltd.co,which currently has 2 non-resident directors ( no salary drawn), proposes to appoint an existing employee drawing salary from te co. as the third director. Will Secs 196,197 & Sch V be applicable to payment of salary of such director and are there any limits to salary that can be paid, in case the company is a loss making co. Would a Board resolution be sufficient to make the appointment or would a general body resolution also be required. Please advise

Views (1567)
Posted By: Radha 9 year(s) ago

Answer

With your response to my earlier query, understand payment of remuneration to director of pvt.ltd co making losses requires compli Read More
With your response to my earlier query, understand payment of remuneration to director of pvt.ltd co making losses requires compliance with sch V & hence a general body resolution is required.Would like to raise the following 2 further questions: 1.Would clause (iv) of section II(B) of Schedule V be applicable requiring inclusion of items mentioned therein in the notice calling the general meeting, in case the salary is within limits specified in section II A. 2.Would the remuneration paid to such executive director be required to b disclosed in MGT 9 -item VI annexed to the Board's report. If so,under which item -A, B or C. Kindly advise.

Views (1578)
Posted By: Radha 9 year(s) ago

Answer

A company had appointed a managing director in 2011 under the provisions of the Companies act, 1956. He is a professional and he Read More
A company had appointed a managing director in 2011 under the provisions of the Companies act, 1956. He is a professional and hence as per notification dated 14th july, 2011 he can be paid remuneration without any limits in case of inadequate profits. The question is whether the limits under Schedule V of the new Companies act, 2013 would be applicable while determining the remuneration payable to Professional managing director for the year 2014-15. Since the appointment was made prior to 1st april, 2014, the limits under schedule V should not be applicable. views are solicited from professional colleagues

Views (1857)
Posted By: Comsec 9 year(s) ago

Answer

Does Sec 197 and Schedule V applicable to Pvt company with no profit. Read More
Does Sec 197 and Schedule V applicable to Pvt company with no profit.

Views (5502)
Posted By: Mookambika r 9 year(s) ago

Answer

Can a Pvt. Ltd. Company pay remuneration to its ordinary directors who are neither MD or WD etc. on monthly or yearly basis withou Read More
Can a Pvt. Ltd. Company pay remuneration to its ordinary directors who are neither MD or WD etc. on monthly or yearly basis without approval of shareholders? or any other approval is required ?

Views (2463)
Posted By: Vasant patel 9 year(s) ago

Answer

Can a Pvt. Ltd. Company pay remuneration to its ordinary directors who are neither MD or WD etc. on monthly or yearly basis withou Read More
Can a Pvt. Ltd. Company pay remuneration to its ordinary directors who are neither MD or WD etc. on monthly or yearly basis without approval of shareholders? or any other approval is required ?

Views (2478)
Posted By: Vasant patel 9 year(s) ago

Answer

Is 197(3) applicable to Private Limited Companies....the doubt arises because although 197(1) talks of public company, 197(3) stat Read More
Is 197(3) applicable to Private Limited Companies....the doubt arises because although 197(1) talks of public company, 197(3) states "notwithstanding anything contained in sub-sections (1) and (2).

Views (1455)
Posted By: Amol kshirsagar 10 year(s) ago

Answer

Can unlisted Company pay managerial remuneration exceeding the limit specified in Schedule V of Companies Act, 2013 (in case of Read More
Can unlisted Company pay managerial remuneration exceeding the limit specified in Schedule V of Companies Act, 2013 (in case of inadequate profit), with CG approval or without obtaining CG approval?

Views (2932)
Posted By: Vivek vijay 10 year(s) ago

Answer

Does Managerial Remuneration apply to a pvt company which has loss or inadequate profit Read More
Does Managerial Remuneration apply to a pvt company which has loss or inadequate profit

Views (1988)
Posted By: Mookambika r 10 year(s) ago

Answer

Whether Section 197 is applicable to a private company, i.e. whether there are any restrictions in payment of remuneration to an o Read More
Whether Section 197 is applicable to a private company, i.e. whether there are any restrictions in payment of remuneration to an ordinary director in a private company whether there are adequate profits or not or whether there are losses?

Views (5560)
Posted By: Hemal 9 year(s) ago

Answer

Hi, Sec 197 sub section 1 states that the remuneration payable by a public company shall be within the limit specified therein. Ho Read More
Hi, Sec 197 sub section 1 states that the remuneration payable by a public company shall be within the limit specified therein. However in sub section 3, it states nothwithstanding anything contained in sub section 1 and 2, and further it uses the word 'company'only. In this regard my query is, whether the 197 sub section 3 read with schedule V of the Act will be applicable to a private limited company

Views (1506)
Posted By: Rishav saraf 8 year(s) ago

Answer

Whether the Managerial Remuneration payable under Schedule V limits is specified for a single managerial person or all the manager Read More
Whether the Managerial Remuneration payable under Schedule V limits is specified for a single managerial person or all the managerial persons put together?

Views (874)
Posted By: Amith jain 7 year(s) ago

Answer

Can a Managerial Personnel be paid remuneration for the previous Financial Years in the current Financial Year. e.g. in FY 2015- Read More
Can a Managerial Personnel be paid remuneration for the previous Financial Years in the current Financial Year. e.g. in FY 2015-16, remuneration is proposed to be paid for FYs 2014-15 & 2013-14.

Views (1254)
Posted By: Jaya bhatia 8 year(s) ago

Answer

company having loss in the last FY and defaulted in repayment of debts. what is the solution for giving remuneration to managerial Read More
company having loss in the last FY and defaulted in repayment of debts. what is the solution for giving remuneration to managerial person?

Views (1305)
Posted By: Anil 8 year(s) ago

Answer

can any one pls provide a draft formay for appointment if a whole time Director and payment of remuneration under Schedule V of Co Read More
can any one pls provide a draft formay for appointment if a whole time Director and payment of remuneration under Schedule V of Companies Act,2013. Further a company to whom the provisions of Sec 2013 are not applicable is appointinga WTD , does it is mandatory to designate that person as KMP also and cover that section in resolution for apopointment of WTD? .

Views (1747)
Posted By: Kanika gupta 10 year(s) ago

Answer

Compliances to be done with Registrar of Companies in case of Directors remuneration of a Private Limited Company? Read More
Compliances to be done with Registrar of Companies in case of Directors remuneration of a Private Limited Company?

Views (1594)
Posted By: Anant jajodia 9 year(s) ago

Section 117- Resolutions and agreements to be filed.

Answer

Whether the director is required to disclose his interest in a Firm in HUF capacity when he is the Karta of the HUF? Read More
Whether the director is required to disclose his interest in a Firm in HUF capacity when he is the Karta of the HUF?

Views (2846)
Posted By: Piyush 10 year(s) ago

Answer

There are different views as to whether MBP-1 is required to be filed in MGT-14 as MBP-1 is not a mandatory attachment to MGT-14. Read More
There are different views as to whether MBP-1 is required to be filed in MGT-14 as MBP-1 is not a mandatory attachment to MGT-14. Please clarify whether MBP-1 is required to be attached in MGT-14 along with the copy of Board Resolution?

Views (2252)
Posted By: Piyush 10 year(s) ago

Answer

The directors of an unlisted public limited company and a closely held private limited company disclosed their interest in Form 24 Read More
The directors of an unlisted public limited company and a closely held private limited company disclosed their interest in Form 24AA in March, 2014. However the First board meetings of both the companies for the F.Y. 2014-15 were held on 12.04.2014 and 15.04.2014 respectively but they didnot disclose their interest in Form MBP-1 because they were not aware of the Form and provisions. They have submitted their disclosures in MBP-1 in the last week of June, 2014. whether taking note of the disclosure at the Board Meeting held on 30.06.2014 and filing the resolution with ROC in MGT-14 alongwith the reason for doing so suffice the compliance of the section?

Views (2267)
Posted By: Piyush 10 year(s) ago

Answer

Whether the directors have to disclose their nature of interest in Non Profit Organisations, Section 25 Company (now Section 8 Com Read More
Whether the directors have to disclose their nature of interest in Non Profit Organisations, Section 25 Company (now Section 8 Company) and their equity investments in listed companies as well?

Views (2519)
Posted By: Piyush 10 year(s) ago

Answer

As per sec 117 read with Sec 179(3)(g) of CA 2013, board resolution approving financial statements and Board report have to be fil Read More
As per sec 117 read with Sec 179(3)(g) of CA 2013, board resolution approving financial statements and Board report have to be filed within 30 days in form MGT 14. Will it apply to the financial statements for the year ended on 31.3.2014 which will be approved in July/Aug/Sept 2014?

Views (1000)
Posted By: Latha 10 year(s) ago

Answer

This is in continuation of my query on necessity to file Board resolutions approving financial accounts. The Board generally appr Read More
This is in continuation of my query on necessity to file Board resolutions approving financial accounts. The Board generally approves and sign the draft accounts when presented to the auditors for their report thereon. The auditors report is adopted by the subsequently and the Board report is prepared and approved after perusal of auditors report. When these events are held on different dates, ie draft accounts are approved and signed on behalf of the Board in a meeting and the auditors report and Board report are approved in a subsequent meeting, should we file MGT 14 twice?. One within 30 days of the first meeting when the draft accounts are approved by the Board and the second within 30 days of the subsequent meeting in which the Board report is approved? Sec 179(3) read with Sec 117 stipulates filing of MGT 14 for approval of financial statements and Board report. Hence this query.

Views (1314)
Posted By: Latha 10 year(s) ago

Answer

whether a private company needs to file MBP - 1 (DIRECTORS INTEREST DISCLOSURE) in MGT -14 or any other form with the Registrar of Read More
whether a private company needs to file MBP - 1 (DIRECTORS INTEREST DISCLOSURE) in MGT -14 or any other form with the Registrar of companies for FY 15-16. Please update

Views (1406)
Posted By: Dindayal dhandaria 9 year(s) ago

Answer

A Private Limited Comapy not filled any Resolution during the Year 2014-15 & now the private limited is exempted from the filling Read More
A Private Limited Comapy not filled any Resolution during the Year 2014-15 & now the private limited is exempted from the filling of some resolution. So can we file the Resolution for the F Y 2014-15 such as disclosure of director interest & approval of accounts.

Views (1696)
Posted By: Rajesh chopra 9 year(s) ago

Answer

what is the procedure of change in designation from md to normal director in public company Read More
what is the procedure of change in designation from md to normal director in public company

Views (1555)
Posted By: Rakesh 8 year(s) ago

Section 230- Power to compromise or make arrangements with creditors and members.

Answer

As per Section 230(4), a notice under Section 230(3) shall provide that the persons to whom the notice is sent may vote in meeting Read More
As per Section 230(4), a notice under Section 230(3) shall provide that the persons to whom the notice is sent may vote in meeting either themselves or through proxies or by postal ballot to the adoption of the compromise or arrangement within 1 month from the date of receipt of such notice. In this case, is Postal Ballot applicable for the meeting of Creditors also or is it applicable only to the members and consent of creditors needs to be taken by convening the meeting of creditors only

Views (802)
Posted By: Prerna kapoor 8 year(s) ago

Answer

As per Section 230(4), a notice under Section 230(3) shall provide that the persons to whom the notice is sent may vote in meeting Read More
As per Section 230(4), a notice under Section 230(3) shall provide that the persons to whom the notice is sent may vote in meeting either themselves or through proxies or by postal ballot to the adoption of the compromise or arrangement within 1 month from the date of receipt of such notice. In this case, is Postal Ballot applicable for the meeting of Creditors also or is it applicable only to the members and consent of creditors needs to be taken by convening the meeting of creditors only

Views (1071)
Posted By: Prerna kapoor 8 year(s) ago

Section 232- Merger and amalgamation of companies.

Answer

Whether the takeover of a private Company by another private limited Company is to be effected by filing a petition of merger to t Read More
Whether the takeover of a private Company by another private limited Company is to be effected by filing a petition of merger to the NCLT or the High court. Please advise on the procedure as per Companies Act 2013

Views (1317)
Posted By: Sanjay 9 year(s) ago

Section 248- Power of Registrar to remove names of a company from register of companies.

Answer

If two Directors has been appointed in two different Companies out of which one Company Strike off and other is active. Director i Read More
If two Directors has been appointed in two different Companies out of which one Company Strike off and other is active. Director is in Disqualified in strike off company, then whether he can strike off other company which is active in status or he is required any approval from any authority ?

Views (1132)
Posted By: Arun rajabhau joshi 7 year(s) ago

Section 366- Companies capable of being registered.

Answer

What is the Procedure for conversion of Association of Person into a Private Limited Company. Read More
What is the Procedure for conversion of Association of Person into a Private Limited Company.

Views (1569)
Posted By: Govind toshniwal 6 year(s) ago

Section 396- Registration offices.

Answer

Does the stamp of Approval for a particular E Form given by the ROC cast on the ROC concerned any responsibility (other than STP f Read More
Does the stamp of Approval for a particular E Form given by the ROC cast on the ROC concerned any responsibility (other than STP forms) or is he merely a registering authority ??

Views (1384)
Posted By: V. ramkumar 9 year(s) ago

Section 42 - Issue of shares on private placement basis.

Answer

share application money standing in bs as on 31.03.2014 in a private company will be allotted in private placement is letter of of Read More
share application money standing in bs as on 31.03.2014 in a private company will be allotted in private placement is letter of offer also to be given

Views (1830)
Posted By: Namita 10 year(s) ago

Answer

What are the consequences if shares are not allotted and application money is not refunded?On complying with Deposit provisions ca Read More
What are the consequences if shares are not allotted and application money is not refunded?On complying with Deposit provisions can such amount be put to use for any purpose other than allotment.

Views (1617)
Posted By: Sandhya 10 year(s) ago

Answer

Company has taken Share Application Money from one person, to whom we have to allot shares and the Authorized share capital of the Read More
Company has taken Share Application Money from one person, to whom we have to allot shares and the Authorized share capital of the company is also to be increased by the amount of share application money. Now my confusion is, there any violation of the provisions of section 42 of the Companies Act, 2013, or simply we can increase the ASC of the Company and after that to allot shares?

Views (1726)
Posted By: Prekshi gupta 10 year(s) ago

Answer

Can the share application money pending as on 31.03.2014 (pertaining to previous years )be adjusted towards allotment of shares u/ Read More
Can the share application money pending as on 31.03.2014 (pertaining to previous years )be adjusted towards allotment of shares u/s 42 of Comapnies Act,2013?

Views (2728)
Posted By: Kanika gupta 9 year(s) ago

Answer

As per Rule 14(3) of PAS Rules, if the company is listed it shall file Letter of offce with SEBI within 30 days of circulation. Read More
As per Rule 14(3) of PAS Rules, if the company is listed it shall file Letter of offce with SEBI within 30 days of circulation. Listed company as defined under the new Act means "a Company whose securities are listed on any recognised stock exchange. However, as per SEBI ICDR, listed company includes compnaies whose equity shares are listed of recognised stock exchange. So, if only NCDs of XYZ Limited are listed they will be classified as listed company for the purpose of new act of 2013 and will be required to comply with all provisions applicable to listed company. Now, my query is if XYZ Ltd. issues equity shares on preferential basis, whehter it will be required to flie PAS 5 & PAS4 with SEBI?.

Views (1965)
Posted By: Nilesh patel 9 year(s) ago

Answer

Resolution for increasing Authorise capital and MOA is amended then whether share can be issued even if on the date of issue Form Read More
Resolution for increasing Authorise capital and MOA is amended then whether share can be issued even if on the date of issue Form MGT-14 & SH-7 pending the allotment.

Views (2394)
Posted By: Himanshu 9 year(s) ago

Answer

After passing of resolution for increase of Authorise capital and approval of alteration to MOA then whether share can be allotted Read More
After passing of resolution for increase of Authorise capital and approval of alteration to MOA then whether share can be allotted even if on the date of allotment Form MGT-14 & SH-7 is pending for filing.

Views (2263)
Posted By: Himanshu 9 year(s) ago

Answer

As per section 42 of the companies Act,2013, provides that All monies payable towards subscription of securities under this sect Read More
As per section 42 of the companies Act,2013, provides that All monies payable towards subscription of securities under this section shall be paid through cheque or demand draft or other banking channels but not by cash ,All monies received on application shall be kept in separate bank account a schedule bank. further as per Companies ( prospectus of securities) Rules,2014, such offer/ invitation shall be made to not more than 200 persons and the value of such offer or invitation per person shall be with an investment size of not less than twenty thousand rupees of face value. PAS-4 and PAS-5 is also required . I want to know all these provisions are applicable to producer companies or not?

Views (1320)
Posted By: Amardeepduggal 7 year(s) ago

Answer

One company want to issue shares to person who may or may not be members of the company on preferential basis u/s. 62(1)c) of Co. Read More
One company want to issue shares to person who may or may not be members of the company on preferential basis u/s. 62(1)c) of Co. Act, 2013, Please let us know whether provisions of section 42 are applicable ? if yes the company need to comply with provisions of both sections and both rules made there under ?

Views (1664)
Posted By: Vasant patel 10 year(s) ago

Answer

One unlisted Public Limited Company, the company has passed special resolution u/s. 42 and 62 offer of Companies Act, 2013 on 25th Read More
One unlisted Public Limited Company, the company has passed special resolution u/s. 42 and 62 offer of Companies Act, 2013 on 25th June, 2014 authorizing the Board of Directors to create, offer, issue and allot 30,00,000 equity shares of Rs. 10/- each for cash at par in one o more tranches from time to time. The company has given list of 85 proposed allotters with their % post paid up capital in explanatory statement in terms of rule 13 of the Companies (Share Capital and Debentures) Rules, 2014. Subsequently Board of Directors of the Company approved Private Placement offer Letter in Form PAS-4 on 27/06/2014 and record private placement offer in Form PAS-5 and send offer to 45 persons alongwith Private Placement offer letter in Form PAS-4 to those persons on 27/06/2014. The company has received application money and allotted shares to those 45 persons. Subsequently the company has record private placement offer in Form PAS-5 and send offer to 30 persons alongwith Private Placement offer letter in Form PAS-4 to those persons on 23/07/2014. Please let me know what date of circulation of private placement offer letter in both Form PAS-5 i.e. For 1st Offer- date of circulation of private placement offer letter : 27/06/2014 For 2nd Offer- date of circulation of private placement offer letter : 23/07/2014 Also explain me that date of circulation of private placement offer letter is the date of approval of Private Placement offer letter or date on which private placement offer letter send to proposed allottees b/c Private Placement offer letter is approved by Board one time for entire offer and issue of Shares i.e. offer, issue and allot 30,00,000 equity shares of Rs. 10/-

Views (2601)
Posted By: Vasant patel 10 year(s) ago

Answer

What is the difference between Further issue of share capital and Private Placement? Read More
What is the difference between Further issue of share capital and Private Placement?

Views (1093)
Posted By: Akansha 10 year(s) ago

Answer

What is the difference between Further issue of share capital and Private Placement? Read More
What is the difference between Further issue of share capital and Private Placement?

Views (1398)
Posted By: Akansha 10 year(s) ago

Answer

What is the difference between Further issue of share capital and Private Placement? Read More
What is the difference between Further issue of share capital and Private Placement?

Views (1225)
Posted By: Akansha 10 year(s) ago

Answer

What is the difference between Further issue of share capital and Private Placement? Read More
What is the difference between Further issue of share capital and Private Placement?

Views (1204)
Posted By: Akansha 10 year(s) ago

Answer

What is the difference between Further issue of share capital and Private Placement? Read More
What is the difference between Further issue of share capital and Private Placement?

Views (1345)
Posted By: Akansha 10 year(s) ago

Answer

Our Company is an unlisted public co. We are in the process of issuing Non Convertible Bonds to a Person Resident Outside India. S Read More
Our Company is an unlisted public co. We are in the process of issuing Non Convertible Bonds to a Person Resident Outside India. So do we need to comply with Sec 42 of Companies Act, 2013 or just Board approval is sufficient?

Views (1301)
Posted By: Priyanka 10 year(s) ago

Answer

share application money pending for allotment as on 31/03/2013 or 31/03/2014 Read More
share application money pending for allotment as on 31/03/2013 or 31/03/2014

Views (1819)
Posted By: Purushottam lal agrawal 9 year(s) ago

Answer

ROC Form filing pending Read More
ROC Form filing pending

Views (1456)
Posted By: Himanshu 9 year(s) ago

Section 76- Acceptance of deposits from public by certain companies.

Answer

As per Rule 2 (c)(xii) Companies (Acceptance of Deposit )Rules,2014, whereby an advance received for suppy of goods and provision Read More
As per Rule 2 (c)(xii) Companies (Acceptance of Deposit )Rules,2014, whereby an advance received for suppy of goods and provision of services is not materialised into actual transaction/contract due to non performance of any stipulated condition , would that advance be trated as deposit then.?

Views (1520)
Posted By: Kanika gupta 9 year(s) ago

Answer

If paid up capital of Pvt. Ltd. is Rs.1 lakh and Loan from Share holder is Rs.1500 only still it is required to file DPT-4 irrespe Read More
If paid up capital of Pvt. Ltd. is Rs.1 lakh and Loan from Share holder is Rs.1500 only still it is required to file DPT-4 irrespective of the fact that loan is paid prior to 30-06-2014. Pl. Guide Thanks in Advance

Views (1773)
Posted By: Himanshu 9 year(s) ago

Section 135- Corporate Social Responsibility.

Answer

Expenditure on CSR activities should start from which financial year, 2014-15 or 2015-16? Read More
Expenditure on CSR activities should start from which financial year, 2014-15 or 2015-16?

Views (1437)
Posted By: Kamdhenu ispat limited 9 year(s) ago

Answer

In case of Listed Public company who has to comply with Sec 135 of Companies’ Act, 2013 does the word “ net profit “ includes even Read More
In case of Listed Public company who has to comply with Sec 135 of Companies’ Act, 2013 does the word “ net profit “ includes even losses if occurred in Previous 3 years or just the profit earning shall only be considered?

Views (2243)
Posted By: Prerna kapoor 8 year(s) ago

Answer

Our Company is not having any sales turnover from F.Y. 13-14 and Company has stopped its Activity from F.Y. 13-14. However, Before Read More
Our Company is not having any sales turnover from F.Y. 13-14 and Company has stopped its Activity from F.Y. 13-14. However, Before that period the Profit before tax earned by the Company was more than Rs. 5 Crores. In this situation whether CSR Provisions are applicable for the Financial Year 2014-15 ,F.Y. 2015-16 and F.Y. 16-17 ?

Views (1227)
Posted By: Arun rajabhau joshi 7 year(s) ago

Answer

Section 135 and Relevant Rules notified. However Section 198 is not notified. How the average profit for last three years to be ca Read More
Section 135 and Relevant Rules notified. However Section 198 is not notified. How the average profit for last three years to be calculated for the purpose of CSR and whether the provisions can be made in balance sheet 2013-14.

Views (1279)
Posted By: Shylendrakumar t r 10 year(s) ago

Section 136- Right of member to copies of audited financial statement.

Answer

I wish to hv others point of view in some points related to annual filing: 1. Form AOC 3 is applicable in case of listed companie Read More
I wish to hv others point of view in some points related to annual filing: 1. Form AOC 3 is applicable in case of listed companies only.Right? 2. As answered in reply of a previous question, Form ADT-1 is not required to be filed every year but when we filed ADT-1 last year. The period of accounts for which auditors were appointed was filled up as 2014 to 2015.now how the same form will relate to financial year 2015-16. 3.As per new act consolidation of accounts of associate companies are also necessary and as per definition an associate company is that company in which the parent company have 20% or more share control. now if the shareholders of two company are common and they are also the Directors of both the companies. Will consolidation of accounts be required?

Views (1295)
Posted By: Anita 9 year(s) ago

Answer

My Query is placed below. A private limited company is proposing to hold its board meeting for adopting the accounts on 22nd Read More
My Query is placed below. A private limited company is proposing to hold its board meeting for adopting the accounts on 22nd September 2014. The notice for the said board meeting would be circulated on or before 14th August 2014. The company is compliance with the provisions of the act of holding the meeting without a gap of more than 120 days between two meetings. Now the query is, as per Section 136 of the Companies Act, 2013, it is mentioned that we have to circulate the copy of the audited financial statement along with the auditor’s report and other relevant attachments to the members not less than 21 days prior to the general meeting. That means the Company has to conduct the board meeting atleast 23 clear days prior to the AGM to be compliance with the Section. As per the recent circular from the Ministry on the maintenance, preparation, adoption and filing of the financial statement and related attachment, it was stated that all financial statements pertaining to period prior to 1st April, 2014, shall be governed by the Companies Act, 1956. Considering the above circular, would request your views as to whether the Company can follow the provisions under Section 219 of the Companies Act, 1956, wherein it is stated that if 21 days clear notice is not given, then it shall be deemed to have been sent, if the same is agreed upon by all the members entitled to vote at the meeting. Now the issue is, on a conservative reading of the circular, it only refers to the adoption and reporting which is like the annual return and annual report including the director’s report / compliance certificate etc. Hence would also request your inputs on the fact that if the relevant section136 and also the section where the notice of shareholders meeting to be given to auditors under section 146 could have been kept in abeyance. Please provide your views at the earliest on the same.

Views (1156)
Posted By: Unnikrishnan p s 10 year(s) ago

Section 138- Internal Audit.

Answer

Ours is a private company, we have appointed Internal auditor in August, 2014 last year. Now do we have to reappoint him and file Read More
Ours is a private company, we have appointed Internal auditor in August, 2014 last year. Now do we have to reappoint him and file MGT-14 for reappointment of Internal auditor with ROC.

Views (1289)
Posted By: Dhavneesh gupta 9 year(s) ago

Answer

If an internal auditor is already appointed in a Pvt company before April 2014, is there a necessity to appoint him again as per Read More
If an internal auditor is already appointed in a Pvt company before April 2014, is there a necessity to appoint him again as per the act once again and file Form MGT-14?

Views (1019)
Posted By: Mookambika r 9 year(s) ago

Section 148- Central Government to specify audit of items of cost in respect of certain companies.

Answer

Sec 148 of CA 2013 stipulates approval of appointment of cost auditor by audit committee if any followed by Board of Directors and Read More
Sec 148 of CA 2013 stipulates approval of appointment of cost auditor by audit committee if any followed by Board of Directors and determination of remuneration by shareholders. The section is silent on the return to be filed with respect to the appointment of cost auditor though Sec 139 stipulates return to be filed with respect to appointment of statutory auditor. The relevant orders/rules with respect to cost records/cost audit are yet to be notified. Form 23 is to be filed under Sec 233(B) of CA 1956. In light of these facts, is it necessary to file form 23C with respect to appointment of cost auditor for FY 1415 to which CA 2013 is applicable?

Views (1450)
Posted By: Latha 10 year(s) ago

Answer

For the Cost audit requirement for the FY 201314, whether the company should follow the new Sec.148 read with the Companies (cost Read More
For the Cost audit requirement for the FY 201314, whether the company should follow the new Sec.148 read with the Companies (cost records and audit) Rules, 2014 or follow the ACT, 1956? Please suggest

Views (1637)
Posted By: Anil 10 year(s) ago

Section 172- Penalty.

Answer

If Loan from Shareholder is repaid on 01-04-2014 or converted into share application still there is requirement to file DPT-4? As Read More
If Loan from Shareholder is repaid on 01-04-2014 or converted into share application still there is requirement to file DPT-4? As in DPT-4 we need to give outstanding loan as on 01-04-2014. many Many Thanks in Advance

Views (2385)
Posted By: Himanshu 9 year(s) ago

Answer

If Loan from Shareholder is repaid on 01-04-2014 or converted into share application still there is requirement to file DPT-4? As Read More
If Loan from Shareholder is repaid on 01-04-2014 or converted into share application still there is requirement to file DPT-4? As in DPT-4 we need to give outstanding loan as on 01-04-2014. many Many Thanks in Advance

Views (2475)
Posted By: Himanshu 9 year(s) ago

Section 194- Prohibition on forward dealings in securities of company by director or key managerial personnel..

Answer

Seeking a clarification for following issue please. Section 194 of Companies Act prohibits on forward dealings in securities of Read More
Seeking a clarification for following issue please. Section 194 of Companies Act prohibits on forward dealings in securities of the company by director or Key managerial personnel. Whether this section restricts to have Put & Call option at the time of issuing shares under the private placement route by unlisted public company. Proviso to Section 58(2) of the Companies Act provides that any contract or arrangement between two or more persons in respect of transfer of securities shall be enforceable as contract. Further, SEBI has issued some notification in relation to the same.

Views (1121)
Posted By: Sanam singh 8 year(s) ago

Answer

Seeking a clarification for following issue please. Section 194 of Companies Act prohibits on forward dealings in securities of Read More
Seeking a clarification for following issue please. Section 194 of Companies Act prohibits on forward dealings in securities of the company by director or Key managerial personnel. Whether this section restricts to have Put & Call option at the time of issuing shares under the private placement route by unlisted public company. Proviso to Section 58(2) of the Companies Act provides that any contract or arrangement between two or more persons in respect of transfer of securities shall be enforceable as contract. Further, SEBI has issued some a notification.

Views (1101)
Posted By: Sanam singh 8 year(s) ago

Answer

Seeking a clarification for following issue please. Section 194 of Companies Act prohibits on forward dealings in securities of Read More
Seeking a clarification for following issue please. Section 194 of Companies Act prohibits on forward dealings in securities of the company by director or Key managerial personnel. Whether this section restricts to have Put & Call option at the time of issuing shares under the private placement route by unlisted public company. Proviso to Section 58(2) of the Companies Act provides that any contract or arrangement between two or more persons in respect of transfer of securities shall be enforceable as contract. Further, SEBI has issued some notification in relation to the same.

Views (1085)
Posted By: Sanam singh 8 year(s) ago

Section 203- Appointment of key managerial personnel.

Answer

In a Pvt Ltd Co. having paid up less then 05 Crores, they have appointed CS in 2013 in the board meeting under the old Act, BR pas Read More
In a Pvt Ltd Co. having paid up less then 05 Crores, they have appointed CS in 2013 in the board meeting under the old Act, BR passed in 2013 doesn't have remuneration details in it. Now they want to revise the remuneration of CS w.e.f 01st April, 2015 do they need board Approval for revising the remuneration of CS?

Views (1845)
Posted By: Sunny bajaj 9 year(s) ago

Answer

Can a CFO be appointed as CS also in the same Company? Read More
Can a CFO be appointed as CS also in the same Company?

Views (13240)
Posted By: Kamdhenu ispat limited 9 year(s) ago

Answer

Does the re-designation of KMPs in a company who were appointed before the enactment of the new Companies Act, 2013 requires filin Read More
Does the re-designation of KMPs in a company who were appointed before the enactment of the new Companies Act, 2013 requires filing of form DIR 12 and MR 1?Please do suggest with reasoning.

Views (1777)
Posted By: Vinay tripathi 9 year(s) ago

Answer

A group having all pvt limited companies which are not subject to the mandatory appointment of KMP wishes to appoint WTD/MD and pa Read More
A group having all pvt limited companies which are not subject to the mandatory appointment of KMP wishes to appoint WTD/MD and pay remuneration to all the directors. Reading of Sec 2(94) and Sec 203(3) gives us the understanding that a WTD cannot be appointed as executive director in more than one company. This means he can neither be a WTD or MD in one other company. However a person designated as MD can be MD in one other company. Under these circumstances can all the persons on the Board of pvt limited companies be designated as MD so that it will provide scope for the appointment of such persons as MD in one another company? By appointing a person as WTD, the company will not have the option of appointing him as executive director in the other companies, necessitating the company to induct new members into the Board.

Views (1598)
Posted By: Latha 10 year(s) ago

Answer

Whether a same person can be a Whole-time Director, CFO and CS of a Company which is covered under Section 203 read with Rule 8 of Read More
Whether a same person can be a Whole-time Director, CFO and CS of a Company which is covered under Section 203 read with Rule 8 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014

Views (1514)
Posted By: Rajat 10 year(s) ago

Answer

Can one person be appointed as CS and CFO of a Company at the same time? Is there any provision under the CA 2013 that specificall Read More
Can one person be appointed as CS and CFO of a Company at the same time? Is there any provision under the CA 2013 that specifically prohibit this? Would there be any technical problem in filing form DIR-12 for the CFO appointment, when he is already showing as a CS of the Company in the MCA portal.

Views (3863)
Posted By: Pradeep chugh 10 year(s) ago

Answer

A Chief Executive Officer of the Company can be designated as Key Managerial Personnel under Section 203 of Companies Act, 2013 i Read More
A Chief Executive Officer of the Company can be designated as Key Managerial Personnel under Section 203 of Companies Act, 2013 if he is appointment before the commencement of Companies Act, 2013?

Views (1973)
Posted By: Akansha 10 year(s) ago

Answer

Is there any prescribed Qualification provided for appointment of CFO (Chief Financial Officer) and CEO (Chief Executive Officer) Read More
Is there any prescribed Qualification provided for appointment of CFO (Chief Financial Officer) and CEO (Chief Executive Officer) u/s. 203 of the Co. Act. 2013

Views (7355)
Posted By: Vasant patel 10 year(s) ago

Answer

Private Company which require to appoint whole time company secretary but which does not fall under companies which require to com Read More
Private Company which require to appoint whole time company secretary but which does not fall under companies which require to comply with the provisions of sec 203 of the Act , whether they require to designate CS as KMP under sec 203 and require to fulfill the conditions given in the section

Views (1672)
Posted By: Prekshi gupta 10 year(s) ago

Answer

Would a private company or a public company having a paid up share capital of less than INR 10 crore need to undertake compliance Read More
Would a private company or a public company having a paid up share capital of less than INR 10 crore need to undertake compliance with respect KMP provisions, in case it were to have KMP(s).

Views (1879)
Posted By: Suniti 10 year(s) ago

Answer

One person is holding the position of Managing Director in three companies for which the specific approval from CG as per Section Read More
One person is holding the position of Managing Director in three companies for which the specific approval from CG as per Section 316 of the CA 1956 is in force till 2015. Does this approval hold valid as per the current provisions of Section 203 of the Companies Act 2013

Views (1696)
Posted By: Vikas gupta 10 year(s) ago

Answer

• Can a Company Secretary be a Whole Time Director in a Company? Read More
• Can a Company Secretary be a Whole Time Director in a Company?

Views (1168)
Posted By: Akansha 10 year(s) ago

Answer

X is the subsidiary company of a Y holding Company. Mr. A is working as Executive and receiving salary from Y holding Company. Fur Read More
X is the subsidiary company of a Y holding Company. Mr. A is working as Executive and receiving salary from Y holding Company. Further, the holding Company i.e. Y is not required to appoint any Company Secretary. In present case, whether Mr. A who is whole time employee and receiving salary from Y i.e. holding company can file his appointment as Company Secretary in X i.e. Subsidiary Company. Members view are solicited.

Views (1581)
Posted By: Murli lahoti 9 year(s) ago

Answer

Whether it is possible to appoint a company secretary of unlisted private limited company in its listed subsidiary company in term Read More
Whether it is possible to appoint a company secretary of unlisted private limited company in its listed subsidiary company in terms of Section 203 of companies act, 2013? if possible what is the procedure?

Views (1265)
Posted By: Priyadarshini 7 year(s) ago

Answer

Company secretary of a holding company can be appointed inits subsidiary company, as sec 203 of the Act allowed the same? Is there Read More
Company secretary of a holding company can be appointed inits subsidiary company, as sec 203 of the Act allowed the same? Is there any restriction provided in Company secretary Act, 1980 and regulations or guidelines issued thereunder? Other views are solicited

Views (1488)
Posted By: Akansha 9 year(s) ago

Answer

As rules published regarding appoitment of KMP , every listed company & every other public company having paid up share capital of Read More
As rules published regarding appoitment of KMP , every listed company & every other public company having paid up share capital of Rs. 10 crore or more require appointment of KMP . so that means it is not applicable to Pvt Ltd company. So what would be the status of Company secretary who are working as Cs in full time employment in Pvt Ltd company having paid up share capital more than 5 cr.

Views (1354)
Posted By: Aarti rathod 10 year(s) ago

Section 204- Secretarial Audit for bigger companies.

Answer

is secretarial audit under section 204 applicable for FY 2013-14? as Directors Report, Accounts for FY 2013-14 are to be prepared Read More
is secretarial audit under section 204 applicable for FY 2013-14? as Directors Report, Accounts for FY 2013-14 are to be prepared as per earstwhile 1956 Act, there is no clarity on secretarial Audit.

Views (1328)
Posted By: Divya 10 year(s) ago

Answer

Can Secretarial Auditor be appointed for more than one year Read More
Can Secretarial Auditor be appointed for more than one year

Views (1282)
Posted By: Sanjeev 9 year(s) ago

Answer

Section 204 read with Rule 9 Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 , what is the date to be Read More
Section 204 read with Rule 9 Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 , what is the date to be reckoned for a public company to come with in the purview of Secretarial Audit i.e whether the paid up share capital of 50 crores or more or turnover of 250 crores or more should be taken as at the end of the previous financial year viz. 31.03.2014 OR as at the end of the current financial year viz. 31.03.2015??

Views (1598)
Posted By: V. ramkumar 9 year(s) ago

Section 205- Functions of the Company Secretary.

Answer

As per the said section, one of the functions of CS is to report to the Board about provisions of this Act, the Rules made there u Read More
As per the said section, one of the functions of CS is to report to the Board about provisions of this Act, the Rules made there under and other laws applicable to the Company. In case there is non-compliance under Income Tax Act is the CS responsible only for reporting to the Board or will he be responsible for non-compliance as officer in default. What will be the position of CFO who is responsible for IT Act

Views (1178)
Posted By: Ulka kulkarni 11 year(s) ago

Section 403- Fee for filing, etc.

Answer

i have not filed balance sheet and annual return for the year 2007 and my paidup capital is Rs.30 lacs. what will be the case if i Read More
i have not filed balance sheet and annual return for the year 2007 and my paidup capital is Rs.30 lacs. what will be the case if i file after 13 april 2014. please suggest.

Views (1398)
Posted By: Ravi 10 year(s) ago

Section 441- Compounding of certain offences.

Answer

for compounding a offence made under section 134, we need to file an application with ROC in GNL-1 , so do we need to file the pe Read More
for compounding a offence made under section 134, we need to file an application with ROC in GNL-1 , so do we need to file the petition in the same form or it will be filed latter.

Views (1114)
Posted By: Sanjay 7 year(s) ago

Section 455- Dormant company.

Answer

• If a private company (incorporated in 2007) has investments in shares of another private company, can such company apply to obta Read More
• If a private company (incorporated in 2007) has investments in shares of another private company, can such company apply to obtain the status of dormant Company.

Views (1864)
Posted By: Akansha 10 year(s) ago

Answer

what are the Compliance which company have to do after Becoming Dormant,Do we have to do Annual Filing? or Get Audit the balance s Read More
what are the Compliance which company have to do after Becoming Dormant,Do we have to do Annual Filing? or Get Audit the balance sheet? or any thing.

Views (1318)
Posted By: Harpreet 9 year(s) ago

Section 460- Condonation of delay in certain cases.

Answer

Our company has filed form ADT-1 for FY 2014-15 after 270+15 days. Challan generated on filing of ADT-1 does not provide any detai Read More
Our company has filed form ADT-1 for FY 2014-15 after 270+15 days. Challan generated on filing of ADT-1 does not provide any detail regarding delay in filling. Are we still required to file CG -1 for condonation of delay. If yes, what will be the process involved, time taken to get the delay condoned and will Regional director pass an order condoning the delay? Urgent response is requested.

Views (1790)
Posted By: Neha mittal 9 year(s) ago

Answer

A Company wants to go for condonation of delay. Which is the concerned authority? Central Government or Regional Director??? Read More
A Company wants to go for condonation of delay. Which is the concerned authority? Central Government or Regional Director???

Views (1311)
Posted By: V s khanna 8 year(s) ago

Q & A

Question Sorting on

Can a person who is not citizen of India hold equity shares in unlisted Public Company in India? Read More Can a person who is not citizen of India hold equity shares in unlisted Public Company in India?

can foreign company set up LLP as a subsidiary in India Read More can foreign company set up LLP as a subsidiary in India

? Does the word "Person" used in Sec. 2 (76) (vii) of the Companies Act, 2013 includes a "Body Corporate" as defined under the Com Read More ? Does the word "Person" used in Sec. 2 (76) (vii) of the Companies Act, 2013 includes a "Body Corporate" as defined under the Companies Act, 2013

relative Read More relative

when a proprietorship company is converted into private ltd company , how assets and liabilities are transferred to a private comp Read More when a proprietorship company is converted into private ltd company , how assets and liabilities are transferred to a private company

Dear Sir, what will be position of old forms e-form 1A- eform 61after implementation of ad effective of all rules and act? Read More Dear Sir, what will be position of old forms e-form 1A- eform 61after implementation of ad effective of all rules and act?

Can an OPC have subsidiary Company? Read More Can an OPC have subsidiary Company?

how to incorporate a private company which having two foreign & two indian director, Read More how to incorporate a private company which having two foreign & two indian director,

notice of egm for entrenchment (sec5) companies act 2013 Read More notice of egm for entrenchment (sec5) companies act 2013

companies act 2013 provides for max no. of directors to 15. Act overrides articles. Then do we have to amend articles to increase Read More companies act 2013 provides for max no. of directors to 15. Act overrides articles. Then do we have to amend articles to increase no of directors to 15.

Does Section 8 Company required to Constitute the CSR committee? Read More Does Section 8 Company required to Constitute the CSR committee?

Is there any section of CA 2013 or relevant rules which are not applicable to an existing company registered under Sec 25 of CA 19 Read More Is there any section of CA 2013 or relevant rules which are not applicable to an existing company registered under Sec 25 of CA 1956?

whether body corporate i.e company may be subscriber to the sec 8 company ,please provide reference to any rules or guidelines Read More whether body corporate i.e company may be subscriber to the sec 8 company ,please provide reference to any rules or guidelines

Can a Section 8 Company adopt Table F as its Articles of Association? Read More Can a Section 8 Company adopt Table F as its Articles of Association?

Can shareholders of section 8 company transfer their shares?? Read More Can shareholders of section 8 company transfer their shares??

What is the Procedure for Alteration of AOA & MOA of section 8 company & how the approval of CG has to be taken? Read More What is the Procedure for Alteration of AOA & MOA of section 8 company & how the approval of CG has to be taken?

Whether Section 8 Company can takeover the trust having same object ? Read More Whether Section 8 Company can takeover the trust having same object ?

Whether Section 8 Company can takeover the trust having same object ? Read More Whether Section 8 Company can takeover the trust having same object ?

Procedure for formation of Section 8 companies, Advantages and disadvantages of forming Section 8 company which earstwhile was fun Read More Procedure for formation of Section 8 companies, Advantages and disadvantages of forming Section 8 company which earstwhile was functioning as "Trust"

Can anyone provide me with MOA & AOA of section 8 company with object ofpromoting and incubating new entrepreneurs. Read More Can anyone provide me with MOA & AOA of section 8 company with object ofpromoting and incubating new entrepreneurs.

When to submit Form No.- INC-10? What will be the procedure of submission? Is it mandatory to submit INC-10 of all companies alr Read More When to submit Form No.- INC-10? What will be the procedure of submission? Is it mandatory to submit INC-10 of all companies already incorporated?

Whether GNL-1 and MGT-14 to be file Simultaneously to ROC for object change in Section 8 Company or Which form is required to fil Read More Whether GNL-1 and MGT-14 to be file Simultaneously to ROC for object change in Section 8 Company or Which form is required to file first GNL-1 or MGT-14 ?

Can a company replace its entire set of articles of association with a new set of Articles of association? Read More Can a company replace its entire set of articles of association with a new set of Articles of association?

can a company limited by shares be converted into company limited by guarantee? Read More can a company limited by shares be converted into company limited by guarantee?

what are the changes to be incorporated while preparing MOA and AOA of Section 25 companies with reference to Companies Act 2013 Read More what are the changes to be incorporated while preparing MOA and AOA of Section 25 companies with reference to Companies Act 2013

Is there any obligation to convert Share Certificates in accordance with the format given under companies Act, 2013 and rules fram Read More Is there any obligation to convert Share Certificates in accordance with the format given under companies Act, 2013 and rules framed thereunder?

Need a circular no. 3/77 dated 15.04.1977. In the circular tab it cannot be open. Kindly share it. Read More Need a circular no. 3/77 dated 15.04.1977. In the circular tab it cannot be open. Kindly share it.

please help me preparing the scheme for issuing preference shares Read More please help me preparing the scheme for issuing preference shares

Whether shares can be transferred in the name of HUF? Read More Whether shares can be transferred in the name of HUF?

Can the new share transfer format be used directly by taking a print out and execute transfer of shares? Read More Can the new share transfer format be used directly by taking a print out and execute transfer of shares?

Do we need to file any form to ROC on transfer of any share from one shareholder to another shareholder Read More Do we need to file any form to ROC on transfer of any share from one shareholder to another shareholder

Whether shares can be transferred in the name of HUF? Read More Whether shares can be transferred in the name of HUF?

In view dematerialization of equity shares of unlisted public companies, what is the process for transfer of shares from resident Read More In view dematerialization of equity shares of unlisted public companies, what is the process for transfer of shares from resident Indian to NRI?

Whether Form INC-28 is required for the purpose of filing form for increase in Authorized Capital in the year 2010? Read More Whether Form INC-28 is required for the purpose of filing form for increase in Authorized Capital in the year 2010?

Allotment of shares to a selected group of individual will amount to preferential allotment or not and what provisions would be ap Read More Allotment of shares to a selected group of individual will amount to preferential allotment or not and what provisions would be applicable

Can Producer Company Allot the shares more than 200 Members ? Read More Can Producer Company Allot the shares more than 200 Members ?

Is shares Valuation Report required in Case of Right Issue of Shares? Read More Is shares Valuation Report required in Case of Right Issue of Shares?

While Conversion of Loan into equity do we need to check or comply any other subsection of Section 62 of companies Act 2013 Read More While Conversion of Loan into equity do we need to check or comply any other subsection of Section 62 of companies Act 2013

What is the procedure for preferential basis allotment of equity shares ? Read More What is the procedure for preferential basis allotment of equity shares ?

What is the procedure for preferential basis allotment of equity shares in private limited company ? Read More What is the procedure for preferential basis allotment of equity shares in private limited company ?

Can we convert unsecured loan to equity under new companies act 2013 i.e under section 62(3) and if yes then do we need to follow Read More Can we convert unsecured loan to equity under new companies act 2013 i.e under section 62(3) and if yes then do we need to follow section 42 if yes why ???????

Whether a clause on exit mechanism provided in ESOP scheme of an unlisted company will continue to hold good under the new Compani Read More Whether a clause on exit mechanism provided in ESOP scheme of an unlisted company will continue to hold good under the new Companies Act, 2013

What is the procedure for preferential basis allotment of equity shares ? i Read More What is the procedure for preferential basis allotment of equity shares ? i

Can a pvt unlisted company which is not doing any business for last 5 yrs go for a buy-back to reduce share capital of Rs. 2,00,0 Read More Can a pvt unlisted company which is not doing any business for last 5 yrs go for a buy-back to reduce share capital of Rs. 2,00,00.

A Limited has purchased 16% of equity shares in FY 2016-17. Can it purchase 9 % of equity shares shares in FY 2017-18. Read More A Limited has purchased 16% of equity shares in FY 2016-17. Can it purchase 9 % of equity shares shares in FY 2017-18.

can a subsidiary company subscribe to debentures of its holding company? Read More can a subsidiary company subscribe to debentures of its holding company?

is it mandatory to open a bank account at the time of issue of unsecured debentures? Read More is it mandatory to open a bank account at the time of issue of unsecured debentures?

CAN A PRIVATE COMPANY RECEIVE DEPOSIT FROM ITS SHAREHOLDER? IS YES WHAT ARE CONDITION TO BE COMPLIED WITH? Read More CAN A PRIVATE COMPANY RECEIVE DEPOSIT FROM ITS SHAREHOLDER? IS YES WHAT ARE CONDITION TO BE COMPLIED WITH?

Can a private company take deposit/loan from HUF? All Members in HUF are the directors and shareholders of the private company. Read More Can a private company take deposit/loan from HUF? All Members in HUF are the directors and shareholders of the private company.

Can a private company take loan from HUF of its director? Read More Can a private company take loan from HUF of its director?

Form DPT 4 is an attachment giving details of deposits as on 31.3.2014. Pl specify to which e form it should be attached to for f Read More Form DPT 4 is an attachment giving details of deposits as on 31.3.2014. Pl specify to which e form it should be attached to for filing with ROC ?

Can a person who is not citizen of India hold equity shares in unlisted Public Company in India? Read More
Can a person who is not citizen of India hold equity shares in unlisted Public Company in India?

can foreign company set up LLP as a subsidiary in India Read More
can foreign company set up LLP as a subsidiary in India

? Does the word "Person" used in Sec. 2 (76) (vii) of the Companies Act, 2013 includes a "Body Corporate" as defined under the Com Read More
? Does the word "Person" used in Sec. 2 (76) (vii) of the Companies Act, 2013 includes a "Body Corporate" as defined under the Companies Act, 2013

relative Read More
relative

when a proprietorship company is converted into private ltd company , how assets and liabilities are transferred to a private comp Read More
when a proprietorship company is converted into private ltd company , how assets and liabilities are transferred to a private company

Dear Sir, what will be position of old forms e-form 1A- eform 61after implementation of ad effective of all rules and act? Read More
Dear Sir, what will be position of old forms e-form 1A- eform 61after implementation of ad effective of all rules and act?

Can an OPC have subsidiary Company? Read More
Can an OPC have subsidiary Company?

how to incorporate a private company which having two foreign & two indian director, Read More
how to incorporate a private company which having two foreign & two indian director,

notice of egm for entrenchment (sec5) companies act 2013 Read More
notice of egm for entrenchment (sec5) companies act 2013

companies act 2013 provides for max no. of directors to 15. Act overrides articles. Then do we have to amend articles to increase Read More
companies act 2013 provides for max no. of directors to 15. Act overrides articles. Then do we have to amend articles to increase no of directors to 15.

Does Section 8 Company required to Constitute the CSR committee? Read More
Does Section 8 Company required to Constitute the CSR committee?

Is there any section of CA 2013 or relevant rules which are not applicable to an existing company registered under Sec 25 of CA 19 Read More
Is there any section of CA 2013 or relevant rules which are not applicable to an existing company registered under Sec 25 of CA 1956?

whether body corporate i.e company may be subscriber to the sec 8 company ,please provide reference to any rules or guidelines Read More
whether body corporate i.e company may be subscriber to the sec 8 company ,please provide reference to any rules or guidelines

Can a Section 8 Company adopt Table F as its Articles of Association? Read More
Can a Section 8 Company adopt Table F as its Articles of Association?

Can shareholders of section 8 company transfer their shares?? Read More
Can shareholders of section 8 company transfer their shares??

What is the Procedure for Alteration of AOA & MOA of section 8 company & how the approval of CG has to be taken? Read More
What is the Procedure for Alteration of AOA & MOA of section 8 company & how the approval of CG has to be taken?

Whether Section 8 Company can takeover the trust having same object ? Read More
Whether Section 8 Company can takeover the trust having same object ?

Whether Section 8 Company can takeover the trust having same object ? Read More
Whether Section 8 Company can takeover the trust having same object ?

Procedure for formation of Section 8 companies, Advantages and disadvantages of forming Section 8 company which earstwhile was fun Read More
Procedure for formation of Section 8 companies, Advantages and disadvantages of forming Section 8 company which earstwhile was functioning as "Trust"

Can anyone provide me with MOA & AOA of section 8 company with object ofpromoting and incubating new entrepreneurs. Read More
Can anyone provide me with MOA & AOA of section 8 company with object ofpromoting and incubating new entrepreneurs.

When to submit Form No.- INC-10? What will be the procedure of submission? Is it mandatory to submit INC-10 of all companies alr Read More
When to submit Form No.- INC-10? What will be the procedure of submission? Is it mandatory to submit INC-10 of all companies already incorporated?

Whether GNL-1 and MGT-14 to be file Simultaneously to ROC for object change in Section 8 Company or Which form is required to fil Read More
Whether GNL-1 and MGT-14 to be file Simultaneously to ROC for object change in Section 8 Company or Which form is required to file first GNL-1 or MGT-14 ?

Can a company replace its entire set of articles of association with a new set of Articles of association? Read More
Can a company replace its entire set of articles of association with a new set of Articles of association?

can a company limited by shares be converted into company limited by guarantee? Read More
can a company limited by shares be converted into company limited by guarantee?

what are the changes to be incorporated while preparing MOA and AOA of Section 25 companies with reference to Companies Act 2013 Read More
what are the changes to be incorporated while preparing MOA and AOA of Section 25 companies with reference to Companies Act 2013

Is there any obligation to convert Share Certificates in accordance with the format given under companies Act, 2013 and rules fram Read More
Is there any obligation to convert Share Certificates in accordance with the format given under companies Act, 2013 and rules framed thereunder?

Need a circular no. 3/77 dated 15.04.1977. In the circular tab it cannot be open. Kindly share it. Read More
Need a circular no. 3/77 dated 15.04.1977. In the circular tab it cannot be open. Kindly share it.

please help me preparing the scheme for issuing preference shares Read More
please help me preparing the scheme for issuing preference shares

Whether shares can be transferred in the name of HUF? Read More
Whether shares can be transferred in the name of HUF?

Can the new share transfer format be used directly by taking a print out and execute transfer of shares? Read More
Can the new share transfer format be used directly by taking a print out and execute transfer of shares?

Do we need to file any form to ROC on transfer of any share from one shareholder to another shareholder Read More
Do we need to file any form to ROC on transfer of any share from one shareholder to another shareholder

Whether shares can be transferred in the name of HUF? Read More
Whether shares can be transferred in the name of HUF?

In view dematerialization of equity shares of unlisted public companies, what is the process for transfer of shares from resident Read More
In view dematerialization of equity shares of unlisted public companies, what is the process for transfer of shares from resident Indian to NRI?

Whether Form INC-28 is required for the purpose of filing form for increase in Authorized Capital in the year 2010? Read More
Whether Form INC-28 is required for the purpose of filing form for increase in Authorized Capital in the year 2010?

Allotment of shares to a selected group of individual will amount to preferential allotment or not and what provisions would be ap Read More
Allotment of shares to a selected group of individual will amount to preferential allotment or not and what provisions would be applicable

Can Producer Company Allot the shares more than 200 Members ? Read More
Can Producer Company Allot the shares more than 200 Members ?

Is shares Valuation Report required in Case of Right Issue of Shares? Read More
Is shares Valuation Report required in Case of Right Issue of Shares?

While Conversion of Loan into equity do we need to check or comply any other subsection of Section 62 of companies Act 2013 Read More
While Conversion of Loan into equity do we need to check or comply any other subsection of Section 62 of companies Act 2013

What is the procedure for preferential basis allotment of equity shares ? Read More
What is the procedure for preferential basis allotment of equity shares ?

What is the procedure for preferential basis allotment of equity shares in private limited company ? Read More
What is the procedure for preferential basis allotment of equity shares in private limited company ?

Can we convert unsecured loan to equity under new companies act 2013 i.e under section 62(3) and if yes then do we need to follow Read More
Can we convert unsecured loan to equity under new companies act 2013 i.e under section 62(3) and if yes then do we need to follow section 42 if yes why ???????

Whether a clause on exit mechanism provided in ESOP scheme of an unlisted company will continue to hold good under the new Compani Read More
Whether a clause on exit mechanism provided in ESOP scheme of an unlisted company will continue to hold good under the new Companies Act, 2013

What is the procedure for preferential basis allotment of equity shares ? i Read More
What is the procedure for preferential basis allotment of equity shares ? i

Can a pvt unlisted company which is not doing any business for last 5 yrs go for a buy-back to reduce share capital of Rs. 2,00,0 Read More
Can a pvt unlisted company which is not doing any business for last 5 yrs go for a buy-back to reduce share capital of Rs. 2,00,00.

A Limited has purchased 16% of equity shares in FY 2016-17. Can it purchase 9 % of equity shares shares in FY 2017-18. Read More
A Limited has purchased 16% of equity shares in FY 2016-17. Can it purchase 9 % of equity shares shares in FY 2017-18.

can a subsidiary company subscribe to debentures of its holding company? Read More
can a subsidiary company subscribe to debentures of its holding company?

is it mandatory to open a bank account at the time of issue of unsecured debentures? Read More
is it mandatory to open a bank account at the time of issue of unsecured debentures?

CAN A PRIVATE COMPANY RECEIVE DEPOSIT FROM ITS SHAREHOLDER? IS YES WHAT ARE CONDITION TO BE COMPLIED WITH? Read More
CAN A PRIVATE COMPANY RECEIVE DEPOSIT FROM ITS SHAREHOLDER? IS YES WHAT ARE CONDITION TO BE COMPLIED WITH?

Can a private company take deposit/loan from HUF? All Members in HUF are the directors and shareholders of the private company. Read More
Can a private company take deposit/loan from HUF? All Members in HUF are the directors and shareholders of the private company.

Can a private company take loan from HUF of its director? Read More
Can a private company take loan from HUF of its director?

Form DPT 4 is an attachment giving details of deposits as on 31.3.2014. Pl specify to which e form it should be attached to for f Read More
Form DPT 4 is an attachment giving details of deposits as on 31.3.2014. Pl specify to which e form it should be attached to for filing with ROC ?