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Total Questions3

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A Private Limited company accepted unsecured loan from its existing two Directors. This is exempt deposit under section 73 of the Read More
A Private Limited company accepted unsecured loan from its existing two Directors. This is exempt deposit under section 73 of the Companies Act, 2013. Subsequently above two Directors resigned from the Directorship of the Company. Is the loan becomes deposits after their resignation? Is the loan becomes repayable after resignation not to attract deposit Rules ?

Section 73- Prohibition on acceptance of deposits from public.

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Views (33629)
Posted By: Som nath 10 year(s) ago

Answer

Can CSR expenditure be approved by Circular Resolution of CSR Committee Read More
Can CSR expenditure be approved by Circular Resolution of CSR Committee

Section 135- Corporate Social Responsibility.

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Views (7255)
Posted By: Sachin 5 year(s) ago

Answer

As per Section 82 of the Companies Act, 2013, CHG-4 for Satisfaction of Charge, the Form need not mandatorily Digitally signed by Read More
As per Section 82 of the Companies Act, 2013, CHG-4 for Satisfaction of Charge, the Form need not mandatorily Digitally signed by the Charge Holder. But CHG-4 is not allowed without charge holder DSC for further action. Please confirm the same, whether the Company, can file Form -4 ( Satisfaction of Charge) without affixing the DSC of Charge Holder.

Section 82- Company to report satisfaction of charge.

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Views (3738)
Posted By: Manoj kumar koyalkar 9 year(s) ago

Total Questions1426

Answer

We need to file Balance Sheet for the financial year 2013-14 with MCA and Form 23 AC/ACA are not avalable now, please suggest the Read More
We need to file Balance Sheet for the financial year 2013-14 with MCA and Form 23 AC/ACA are not avalable now, please suggest the relevant form

Implementation of new law

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Views (4355)
Posted By: Ravinder 8 year(s) ago

Answer

DIN-4 - Is Verification Statement in Affidavit Format mandatory for Foreign National? If so how we can export the document for Sig Read More
DIN-4 - Is Verification Statement in Affidavit Format mandatory for Foreign National? If so how we can export the document for Signature since it requires to be on Stamp Paper?

Incorporation

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Views (3950)
Posted By: V. maslekar 10 year(s) ago

Answer

THEFORMAT OF DECLARATIONS FROM DIRECTORS CORRESPONDING TO SECTIONS TO SECTIONS 299 AND 274(1)(G) ARE SECTIONS 164 AND 184. IS TH Read More
THEFORMAT OF DECLARATIONS FROM DIRECTORS CORRESPONDING TO SECTIONS TO SECTIONS 299 AND 274(1)(G) ARE SECTIONS 164 AND 184. IS THERE ANY FORMAT SUGGESTED,.UNDER THE RULES I AM NOT ABLE TO FIND ANY DRAFT FORMAT.

Director

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Views (7013)
Posted By: Ravi arora 10 year(s) ago

Answer

You are requested to advice me, whether form MGT-14 to be filed for increased in authorized Capital (Ordinary Resolution) apart f Read More
You are requested to advice me, whether form MGT-14 to be filed for increased in authorized Capital (Ordinary Resolution) apart from Filing Form SH-7? If no, how the amended MOA will get registered with Registrar.

Compliances

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Views (5573)
Posted By: Vijay oganiya 9 year(s) ago

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.

Section 179- Powers of Board.

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

Answer

A private company has husband and wife as only two directors as well as shareholders. There is no other shareholder. Husband is co Read More
A private company has husband and wife as only two directors as well as shareholders. There is no other shareholder. Husband is continuing as a whole time director since 1996 as there was no fixed tenure in his appointment letter. The questions now are :1. Does the Company need to reappoint him with a tenure of 5 years now ? If yes, can he be reappointed now say. in December, 2014 or January, 2015 ? 2. Whether in respect of the Board resolution for his reappointment and remuneration, Section 184 and Section 188 apply ? 3. Will he compulsorily be treated as a KMP ? 4. Whether MR 1 in this case will be filed within 60 days from Board resolution or from General meeting resolution ( as the general meeting will now only be in September, 2015) ?

KMP

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

Answer

whether blance in share premium account to be included for limit of paid up capital to eligible as small company Read More
whether blance in share premium account to be included for limit of paid up capital to eligible as small company

Small Company

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Views (1945)
Posted By: Purushottam lal agrawal 9 year(s) ago

Answer

Who will appoint an auditor in a company in which a Government Company holds 56% Stake? Read More
Who will appoint an auditor in a company in which a Government Company holds 56% Stake?

Auditors

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Views (1885)
Posted By: Ashok 10 year(s) ago

Answer

Can a Private company give a loan to another Private company in which one of the shareholder is relative of Director of lending c Read More
Can a Private company give a loan to another Private company in which one of the shareholder is relative of Director of lending company?

Fund raising

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Views (1564)
Posted By: Nidhi goel 10 year(s) ago

Answer

A private company having turnover of Rs.10 crores and capital of Rs.10 lacs shall be treated as small company or not Read More
A private company having turnover of Rs.10 crores and capital of Rs.10 lacs shall be treated as small company or not

Small Company

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Views (1533)
Posted By: Ruchi mitra 10 year(s) ago

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?

Section 185- Loan to directors, etc.

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Views (27643)
Posted By: Vishal arora 9 year(s) ago

Answer

Dear All, Please advise whether company can take interest free loan form director and also in case of loan to wholly owned subsidi Read More
Dear All, Please advise whether company can take interest free loan form director and also in case of loan to wholly owned subsidiary company from holding company. Thanks

Director

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Views (17764)
Posted By: Nidhi goel 9 year(s) ago

Answer

whether HUF is covered under the definition of relative of director/member Read More
whether HUF is covered under the definition of relative of director/member

Definitions

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Views (5863)
Posted By: Jasvir walia 8 year(s) ago

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?

Section 197- Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits.

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Views (4269)
Posted By: Vishwas panjiar 10 year(s) ago

Answer

Section 145 says auditor should sign audit report, Section 134 says directors etc should sign financial statements, why auditors s Read More
Section 145 says auditor should sign audit report, Section 134 says directors etc should sign financial statements, why auditors sign financial statements is it given under any section or it is a custom

Auditors

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Views (2649)
Posted By: Ravi 10 year(s) ago

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

Section 77- Duty to register charges, etc.

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

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?

Section 188- Related party transactions.

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

Answer

Please provide me the format of Form DIR-2 required as per Form DIR-12. Read More
Please provide me the format of Form DIR-2 required as per Form DIR-12.

Incorporation

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Views (2206)
Posted By: Dhavneesh gupta 10 year(s) ago

Answer

Is compliance certificate u/s 383A of the old Act applcable for the Financial Year ended 31.03.2014? Read More
Is compliance certificate u/s 383A of the old Act applcable for the Financial Year ended 31.03.2014?

Compliances

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Views (2191)
Posted By: Vithal kumar pingali 10 year(s) ago

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.

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

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Views (2179)
Posted By: Anil 10 year(s) ago

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

Section 3- Formation of company.

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

Answer

Hi, Please advise whether pvt. company can take loan from the other private company where there is one common director? if yes, pl Read More
Hi, Please advise whether pvt. company can take loan from the other private company where there is one common director? if yes, pls. advise procedure?

Fund raising

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Views (1978)
Posted By: Nidhi goel 9 year(s) ago

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?

Section 203- Appointment of key managerial personnel.

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Views (1845)
Posted By: Sunny bajaj 9 year(s) ago

Answer

If CFO appointment is before March, 31, 2014. Is it required to file DIR-12 for the appointment of CFO now? Is there further requi Read More
If CFO appointment is before March, 31, 2014. Is it required to file DIR-12 for the appointment of CFO now? Is there further requirement of filing MR-1 also, when remuneration to CFO is not subject to regulation or within the purview of Sections 196 &197 & schedule V.

KMP

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Views (1623)
Posted By: Nava bharat ventures limited 9 year(s) ago

Answer

Do a private company which is a subsidiary of public company need to comply with all compliances applicable to public company, if Read More
Do a private company which is a subsidiary of public company need to comply with all compliances applicable to public company, if it meets the threshold limits of capital and turnover etc?

Compliances

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Views (1615)
Posted By: Monika bhardwaj 10 year(s) ago

Answer

the shareholders of our company has approved the appointment of MD fr a perio0d of 5 years under Schedule XIII of the Companies Ac Read More
the shareholders of our company has approved the appointment of MD fr a perio0d of 5 years under Schedule XIII of the Companies Act,1956. the Central Govt. has approved his remuneration for 3 years. is it possible to approach the CG for the remaining period of 2 years again without approaching the shareholdsers again??

Remuneration to KMP

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Views (1452)
Posted By: Nilesh jain 9 year(s) ago

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?

Section 173- Meetings of Board.

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Views (1190)
Posted By: Gagandeep singh 10 year(s) ago

Answer

Please clarify - there is any time limit to update MOA & AOA as per the New Companies Act, 2013 to existing companies. Read More
Please clarify - there is any time limit to update MOA & AOA as per the New Companies Act, 2013 to existing companies.

Compliances

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Views (23976)
Posted By: Sunil kumar agrawal 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?

Section 203- Appointment of key managerial personnel.

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Views (13227)
Posted By: Kamdhenu ispat limited 9 year(s) ago

Answer

If one of the directors of a company stays overseas and normally attends meetings through video conferencing (requirements related Read More
If one of the directors of a company stays overseas and normally attends meetings through video conferencing (requirements related to video conferencing are not complied with), how would we comply with section 184 for him? as per my understanding the disclosure u/s 184 shall be submitted in the first board meeting that the director attends in person. So how do we deal with this.

Board Meeting

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Views (4371)
Posted By: Deepti vohra 10 year(s) ago

Answer

Company Incorporated on 27.02.13. Books closed on 31.03.14 What would be the due date for AGM. Whether withing 18 months of Incorp Read More
Company Incorporated on 27.02.13. Books closed on 31.03.14 What would be the due date for AGM. Whether withing 18 months of Incorporation or 9 months as per new Act.

Shareholders Meeting

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Views (3561)
Posted By: Zaeem 10 year(s) ago

Answer

As per CLSS 2014 Form 23B Can be filed, however Form 23B is not available on MCA 21 Portal, so can we use old Form 23B or is their Read More
As per CLSS 2014 Form 23B Can be filed, however Form 23B is not available on MCA 21 Portal, so can we use old Form 23B or is their any other alternative

Compliances

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Views (3088)
Posted By: Venkatesh babu t r 10 year(s) ago

Answer

Can an Independent Director be appointed by the Board as Additional Director under Sec 161 of the Act. Also can this appointment b Read More
Can an Independent Director be appointed by the Board as Additional Director under Sec 161 of the Act. Also can this appointment be regularised at the next ensuing AGM?

Independent Director

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Views (3075)
Posted By: Shiv kumaran 9 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.

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

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

Answer

Can allotment of Shares or Debentures be done through circular resolution. Read More
Can allotment of Shares or Debentures be done through circular resolution.

Board Meeting

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Views (2932)
Posted By: Arun kumar 10 year(s) ago

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?

Section 117- Resolutions and agreements to be filed.

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Views (2846)
Posted By: Piyush 10 year(s) ago

Answer

Do we have to amend the AOA of the co. as per new act? Read More
Do we have to amend the AOA of the co. as per new act?

Incorporation

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Views (2810)
Posted By: Neha seth 10 year(s) ago

Answer

The companies act states that preferential allotment shall also be treated as private placement and will have to comply with the r Read More
The companies act states that preferential allotment shall also be treated as private placement and will have to comply with the requirements of private placements like issue of letter of offer, valuation by registered valuer etc. In case of preferential allotment of shares or other convertible securities to the promoters, should the company issue letter of offer and comply with the other requirements like valuation. With regard to the special resolution to be passed, can the company pass a single resolution with an upper limit so that the resolution can be used for all allotments to be made during the next 12 months. I understand that the special resolution should be acted upon within 12 months. Can a price band be fixed with power to the board to determine the price. In case of price band, how would the post issue shareholding pattern be made. Only when the exact price of share is known, can the number of shares to be alloted be determined. Please advice.

Private placement

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Views (2672)
Posted By: Arun kumar 10 year(s) ago

Answer

In a private co, Last year in Sep 2014, auditors were appointed for 1 year (instead of 5 years) u/s 139(1). Rotation is not mandat Read More
In a private co, Last year in Sep 2014, auditors were appointed for 1 year (instead of 5 years) u/s 139(1). Rotation is not mandatory. This year should the Company reappoint the auditors for 4 years or for 5 years ? Kindly advise.

AGM

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Views (2672)
Posted By: Manouj agrawaal, fca, partner 9 year(s) ago

Answer

NEW DRAFT FORM OF MOA Read More
NEW DRAFT FORM OF MOA

Incorporation

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Views (2660)
Posted By: Purushottam lal agrawal 11 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 ?

Section 188- Related party transactions.

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

Answer

In a Pvt limited both the Directors and members are Non-Resident...in this case the place of the AGM where???? Read More
In a Pvt limited both the Directors and members are Non-Resident...in this case the place of the AGM where????

Shareholders Meeting

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Views (2375)
Posted By: Palani kumar b 9 year(s) ago

Answer

IF A COMPANY APPOINTS ABC & CO(PROPRIETORSHIP FIRM) AS AUDITOR AND SUBSEQUENTLY IT MERGES WITH ANOTHER AUDITOR FIRM XYZ & CO .IN T Read More
IF A COMPANY APPOINTS ABC & CO(PROPRIETORSHIP FIRM) AS AUDITOR AND SUBSEQUENTLY IT MERGES WITH ANOTHER AUDITOR FIRM XYZ & CO .IN THAT CASE CAN XYZ & CO BE THE AUDITOR OF THE COMPANY IF COMPANY ACCEPTS IT .IF YES THEN WHAT WILL BE THE PROCEDURE FOR THAT

Auditors

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Views (2324)
Posted By: Reena 10 year(s) ago

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 ?

Section 20- Service of documents.

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Views (2194)
Posted By: Ravi 8 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.

Section 188- Related party transactions.

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Views (2109)
Posted By: Latha 8 year(s) ago

Answer

Please refer to the rules related to the appointment of an Independent Director i.e.Rule No. 4 of The Companies (Appointment and Q Read More
Please refer to the rules related to the appointment of an Independent Director i.e.Rule No. 4 of The Companies (Appointment and Qualification of Directors) Rules, 2014 the proviso provided that any intermittent vacancy of an ID shall be filled-up not later than immediate BM or 3 months from the date of such vacancy, whichever is later. Now if we got to Schedule IV ("Code for Independent Director") VI. Resignation and removal: Point 2. it has been provided that the ID vacancy shall be filled up within 180 days from the date of removal or such resignation. Please clarify within how many days the vacancy of ID should be filled-up

Independent Director

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Views (2074)
Posted By: Pradeep chugh 10 year(s) ago

Answer

A Company was incorporated on 9th January, 2015. By default, the Company has closed its financial accounts on 31st March, 2015. Wh Read More
A Company was incorporated on 9th January, 2015. By default, the Company has closed its financial accounts on 31st March, 2015. What is the remedy available?

Accounts

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Views (2071)
Posted By: Santosh pradhan 8 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.

Section 185- Loan to directors, etc.

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Views (2010)
Posted By: Aakanksha 9 year(s) ago

Answer

Report on annual general meeting Section 121.1. Whether the proceedings of the AGM can be attached as a Annexure to Form MGT 15? Read More
Report on annual general meeting Section 121.1. Whether the proceedings of the AGM can be attached as a Annexure to Form MGT 15? 2. Whether the Annexure (i.e. proceedings of the AGM) has to be signed by the Chairman and Company Secretary?

Shareholders Meeting

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Views (1927)
Posted By: Genicon 10 year(s) ago

Answer

Respected Sir/Mam, if any share application money is pending while commencement of New Act, then can that amount be appropriated a Read More
Respected Sir/Mam, if any share application money is pending while commencement of New Act, then can that amount be appropriated against supply of goods and provisions of services within 365 days? If yes please mention the relevant provision.

Fund raising

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Views (1903)
Posted By: Varun 9 year(s) ago

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?

Section 14- Alteration of articles.

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Views (1852)
Posted By: Manoj kumar koyalkar 9 year(s) ago

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

Section 42 - Issue of shares on private placement basis.

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Views (1830)
Posted By: Namita 10 year(s) ago

Answer

Dear Team Companiesact.in, Greetings from CA Rahul Srivastava. I really appreciate the initiative for spreading awareness about ne Read More
Dear Team Companiesact.in, Greetings from CA Rahul Srivastava. I really appreciate the initiative for spreading awareness about new companies act. My question is that My Father is a Chief Finance Office of Company ABC Ltd, ABC had recently acquired 100% stake in another company called XYZ Ltd. My question is whether i am eligible to be appointed as an Auditor of XYZ, consdering the fact that my father will be a Key Management Person as the new Definition in Companies Act 2013. Thanks and best wishes

Auditors

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Views (1821)
Posted By: Rahul srivastava 10 year(s) ago

Answer

In a private company there are two directors A & B. Both A & B want to resign. Now if we appoint two additional directors C & D u/ Read More
In a private company there are two directors A & B. Both A & B want to resign. Now if we appoint two additional directors C & D u/s 161. Can A & B resign before regularisation of additional directors C & D in the ensuing AGM.

Director

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Views (1788)
Posted By: Dhavneesh gupta 10 year(s) ago

Answer

Is there any Stamp Duty Payable on Sub- Division of Shares? e form SH7 filed is held up for Non Payment of Stamp Duty/ Please clar Read More
Is there any Stamp Duty Payable on Sub- Division of Shares? e form SH7 filed is held up for Non Payment of Stamp Duty/ Please clarify.

Fund raising

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Views (1772)
Posted By: V. maslekar 8 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? .

Section 197- Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits.

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Views (1753)
Posted By: Kanika gupta 10 year(s) ago

Answer

Company “A” Limited has appointed as an additional director to fulfill the requirement of number of Independent Directors as requi Read More
Company “A” Limited has appointed as an additional director to fulfill the requirement of number of Independent Directors as required under the Companies Act, 2013 and listing agreement with Stock Exchanges. The appointment of said additional director would be approved as an Independent Director in the next Annual General Meeting of the Company as required under section 150(2) of the Companies Act, 2013. In this connection the following queries are to be considered :- i) What will be the category of additional director for the intervening period i.e. from the date of appointment as an additional director till the next Annual General Meeting whether he will be independent or professional; ii) Whether the Board has power to appoint independent director and accordingly whether we can categorize such additional director as independent director in the Form DIR12 to be filed on appointment of directors; iii) If such additional director is to be treated as an independent director from the date of which he was appointed as an additional director then whether the intervening period from the date of appointment as an additional director till the next general meeting of the Company would be counted for the purpose of two terms of upto five consecutive years each as mentioned in Section 149(10) of the Companies Act, 2013.

Independent Director

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Views (1743)
Posted By: Amish 10 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?

Section 3- Formation of company.

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Views (1743)
Posted By: Himanshu 11 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.

Section 185- Loan to directors, etc.

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Views (1742)
Posted By: Kamlesh 9 year(s) ago

Answer

pvt ltd company is incorporated on 20th march 2015, my query is for which period annual returns should we file i.e. 20.03.15 to 31 Read More
pvt ltd company is incorporated on 20th march 2015, my query is for which period annual returns should we file i.e. 20.03.15 to 31.03.15 or 20.03.15 to 31.03.16.

Compliances

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Views (1621)
Posted By: Kamlsh tripathi 8 year(s) ago

Answer

There are two Companies, Company A and Company B and both Companies have three Directors. There are two common directors. Can Comp Read More
There are two Companies, Company A and Company B and both Companies have three Directors. There are two common directors. Can Company A give any loan to Company B.

Fund raising

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Views (1615)
Posted By: Ravinder 9 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?

Section 173- Meetings of Board.

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

Answer

We are pvt limited company operating from SEZ with share capital less than 20 crores. We will be appointing an executive director Read More
We are pvt limited company operating from SEZ with share capital less than 20 crores. We will be appointing an executive director shortly. In this connection, could you pl clarify the following: a) whether sec 196 is applicable for us b) whether sec 197 is applicable for us? c) do we need to file MR-1? d) Any other form that will be required to be filed in this regard apart from DIR-12 either on a monthly/quarterly/annual basis?

Director

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Views (1586)
Posted By: Tci chemicals india pvt ltd 10 year(s) ago

Answer

STATUTORY AUDITOR WAS APPOINTED IN CASUAL VACANCY FOR FY 2015-16. WHAT WILL BE HIS TERM IF APPOINTED AT ENSUING AGM. Read More
STATUTORY AUDITOR WAS APPOINTED IN CASUAL VACANCY FOR FY 2015-16. WHAT WILL BE HIS TERM IF APPOINTED AT ENSUING AGM.

Auditors

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Views (1550)
Posted By: Ravinder 8 year(s) ago

Answer

If a private company offers right shares to its existing shareholder, can all the shareholders renounce their shares to non member Read More
If a private company offers right shares to its existing shareholder, can all the shareholders renounce their shares to non members resulting the allotment in favour of only new member. If it is allowed then who will do private placement in private company which has such a long procedure and a lot of conditions like valuation of shares and minimum offer of shares/allotment of not less than Rs.20000 of face value.

Fund raising

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Views (1549)
Posted By: Anita 9 year(s) ago

Answer

Dear Experts, What are the ways by which a Private Company can take loan, whether from directors or shareholders or any other pers Read More
Dear Experts, What are the ways by which a Private Company can take loan, whether from directors or shareholders or any other person. Pls elaborate with relevant provisions.

Fund raising

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Views (1537)
Posted By: Pranay patel 10 year(s) ago

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)?

Section 73- Prohibition on acceptance of deposits from public.

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Views (1490)
Posted By: Akansha 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?

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

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

Answer

Please confirm, can we transfer share in case of private company at face value ? Read More
Please confirm, can we transfer share in case of private company at face value ?

Fund raising

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Views (1462)
Posted By: Nidhi goel 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?

Section 180- Restrictions on powers of Board.

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Views (1460)
Posted By: Padmavathi k 11 year(s) ago

Answer

Do the application money necessarily needs to come from the applicants bank account, If the applicant has transferred to one of th Read More
Do the application money necessarily needs to come from the applicants bank account, If the applicant has transferred to one of the directors account and director in turn has transferred to company account, can the shares be allotted to the applicant?

Fund raising

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Views (1450)
Posted By: T.r.chadha & co. 9 year(s) ago

Answer

In a Company C there are only 2 directors. Husband H and wife W. How to pass the Board resolution to change salary of any of two d Read More
In a Company C there are only 2 directors. Husband H and wife W. How to pass the Board resolution to change salary of any of two directors. The other share holders of C are father F of H, Mother M of H, son S of H and W, daughter D of H and W and a HUF of which H is karta.

Small Company

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Views (1421)
Posted By: M b s agarwal 10 year(s) ago

Answer

HOW WILL I FIND DIN WITH HELP OF PAN Read More
HOW WILL I FIND DIN WITH HELP OF PAN

Director

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Views (1407)
Posted By: Anshul mittal 10 year(s) ago

Answer

wheather rules over ride the act or act over rides the rules..which prevails?/ Read More
wheather rules over ride the act or act over rides the rules..which prevails?/

Fund raising

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Views (1404)
Posted By: Nidhi 10 year(s) ago

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 ?

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

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

Answer

can a whole time employee of the company be appointed as alternate to foreign director? Read More
can a whole time employee of the company be appointed as alternate to foreign director?

Board of Directors

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Views (1360)
Posted By: Pooja garg 8 year(s) ago

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?

Section 96- Annual general meeting.

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

Answer

Is there a provision similar to Section 302 of the Companies Act, 1956 in the Companies Act 2013, wherein the abstract of the term Read More
Is there a provision similar to Section 302 of the Companies Act, 1956 in the Companies Act 2013, wherein the abstract of the terms of remuneration of executive directors is to be given.

Disclosures

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Views (1328)
Posted By: Arun kumar 10 year(s) ago

Answer

4 Directors in a Public Limited Company have not attended a single Board Meeting during 2015.16 Financial Year. However, they have Read More
4 Directors in a Public Limited Company have not attended a single Board Meeting during 2015.16 Financial Year. However, they have sought Leave of Absence, which was granted by the Board. Under Sec.167(b) of the CA 2013, are they deemed to have vacated office?

Director

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Views (1322)
Posted By: V. maslekar 8 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 CA2013. Now for any transactions(supply agreement) entered into by this private company with that other private company the transactios of which are in the ordinary course of business and on arm's length basis whether such transactions are still to be approved by the Board and entered in the Register of Contract considering the exemptions now available to the private company.

Compliances

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Views (1320)
Posted By: Vijay shankar 8 year(s) ago

Answer

what are the additional grounds under section 167(4) for a private limited co Read More
what are the additional grounds under section 167(4) for a private limited co

Director

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Views (1284)
Posted By: Reena 10 year(s) ago

Answer

If an employed person is to be appointed as CEO not representing Board in listed Company, whethet the said Company can appoint ano Read More
If an employed person is to be appointed as CEO not representing Board in listed Company, whethet the said Company can appoint another person as Managing Director and/ or Joint MD? And whether it is required to appoint the said person as "Manager" under the Co's Act, 2013 to make him CEO

SEBI

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Views (1235)
Posted By: Kaushik shah 8 year(s) ago

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??

Section 180- Restrictions on powers of Board.

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

Answer

1. Can a Private company give loan to other private company 2. Can a public company give loan to a private company or to its su Read More
1. Can a Private company give loan to other private company 2. Can a public company give loan to a private company or to its subsidiary company or vice versa.

Fund raising

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Views (1103)
Posted By: Divakaran suresh 9 year(s) ago

Answer

EARLIER, A COMPANY HAD TO FILE FOLLOWING FORMS IN ANNUAL FILING I.E. 20B, 23B 23AC 23ACA & 66. NOW, SINCE NO CHANGE HAS BEEN PRESC Read More
EARLIER, A COMPANY HAD TO FILE FOLLOWING FORMS IN ANNUAL FILING I.E. 20B, 23B 23AC 23ACA & 66. NOW, SINCE NO CHANGE HAS BEEN PRESCRIBED IN RESPECT TO ALL THESE FORMS EXCEPT 23B, SHOULD A COMPANY FILE THE SAME AS ANNUAL FILING OR THERE IS SOME OTHER COMPLIANCE REQUIREMENTS?

Compliances

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Views (1023)
Posted By: Krishna kumar gaggar 10 year(s) ago

Answer

PVT company - of 3 directors, in borad, two are forign nationals resident abroad - the resident director passed away 5 weeks back- Read More
PVT company - of 3 directors, in borad, two are forign nationals resident abroad - the resident director passed away 5 weeks back-the obtention of documents for digital signature of the non resident director is taking time-is there any time limit for the appointment of the new resident director- please advise

Director

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Views (858)
Posted By: M s ramachandran 7 year(s) ago

Answer

Sec 179(3) of CA 2013 states that the board shall excersice borrowing powers only through board meetings. The resolution passed b Read More
Sec 179(3) of CA 2013 states that the board shall excersice borrowing powers only through board meetings. The resolution passed by the Board has to be filed in MGT 14 within 30 days. Sec 180 states that company cannot borrow other than temporary loans exceeding total of pd up capital and free reserves except with the shareholders approval by way of spl resolution. Should the existing companies having borrowings and the borrowings exceeding total of pd up capital and free reserves as at 31st March 2014 pass the Board resolution and shareholders resolution even if they have not borrowed additionally in the FY 1415 ie after the commencement of provisions of CA 2013?.

Fund raising

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Views (28865)
Posted By: Latha 10 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?

Section 62- Further issue of share capital.

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Views (11900)
Posted By: Rohit 8 year(s) ago

Answer

Kindly provide me the Consent letter format for conducting EGM at shorter notice Read More
Kindly provide me the Consent letter format for conducting EGM at shorter notice

Shareholders Meeting

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Views (10619)
Posted By: Genicon 10 year(s) ago

Answer

Whether AOC-1 need to signed by the Auditors of the Company? Read More
Whether AOC-1 need to signed by the Auditors of the Company?

AGM

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Views (8438)
Posted By: Brajesh 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 ?

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

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

Answer

What are the forms to be filed for compounding of offence, in case of Government Company which has not held its AGM for F.Y.2014-1 Read More
What are the forms to be filed for compounding of offence, in case of Government Company which has not held its AGM for F.Y.2014-15 within prescribed time. Please specify the exact forms (CG-1 or CG-2, RD-1 or RD-2, GNL-1 or GNL-2).

Implementation of new law

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Views (6569)
Posted By: Vithal kumar pingali 9 year(s) ago

Answer

CAN ANYBODY TELL ME, WHICH FORM I SHOULD FILE FOR INTIMATING THE APPOINMENT OF AUDITOR FOR THE YEAR 2011-12 Read More
CAN ANYBODY TELL ME, WHICH FORM I SHOULD FILE FOR INTIMATING THE APPOINMENT OF AUDITOR FOR THE YEAR 2011-12

Compliances

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Views (6022)
Posted By: Rajeesh kumar c 10 year(s) ago

Answer

Can anyone please share the declaration to be given in Form INC-21, for Certificate of Commencement of Business. I am also not cl Read More
Can anyone please share the declaration to be given in Form INC-21, for Certificate of Commencement of Business. I am also not clear about the Stamp Duty that needs to be paid here, how much and how ...

Incorporation

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Views (5938)
Posted By: Vithal kumar pingali 10 year(s) ago

Answer

FORM DPT 4 REQUIRES ATTACHMENT OF AN AUDITOR CERTIFICATE. WHETHER THE RULES HAVE PRESCRIBED ANY FORMAT FOR THE SAME? IF NOT, THEN Read More
FORM DPT 4 REQUIRES ATTACHMENT OF AN AUDITOR CERTIFICATE. WHETHER THE RULES HAVE PRESCRIBED ANY FORMAT FOR THE SAME? IF NOT, THEN WHAT THE SAID CERTIFICATE SHOULD COVER?

Chartered Accountant

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Views (5922)
Posted By: Krishna kumar gaggar 10 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?

Section 56- Transfer and transmission of securities.

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Views (5803)
Posted By: Sachin 8 year(s) ago

Answer

Please guide about remuneration to directors/members, Section 8 Company being not for profit Company, Whether we can pay or not Read More
Please guide about remuneration to directors/members, Section 8 Company being not for profit Company, Whether we can pay or not ? If yes, then are there any restrictions from Company law point of view? In my opinion remuneration which can be prudent is allowable. Is it correct?

Remuneration to KMP

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Views (5215)
Posted By: Pritesh gangwal 7 year(s) ago

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?

Section 167- Vacation of office of director.

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

Answer

The Company has failed to file FORM 23 in case of a special resolution passed in the year 2013. Since more than 270 days is over, Read More
The Company has failed to file FORM 23 in case of a special resolution passed in the year 2013. Since more than 270 days is over, the company is not able to file form mgt -14 under new companies act, 2013 as it is asking for order under INC-28. Which form to be used for applying for condonation of delay and file the special resolution.

Compliances

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Views (5109)
Posted By: Comsec 10 year(s) ago

Answer

Auditor or Audit firm can be appointed for less than 5 years? can a company appoint auditor firm for 3years instead of 5 years? Read More
Auditor or Audit firm can be appointed for less than 5 years? can a company appoint auditor firm for 3years instead of 5 years?

Auditors

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Views (4737)
Posted By: Govind 9 year(s) ago

Answer

Is maintenance of attendance register for board meetings mandatory? Read More
Is maintenance of attendance register for board meetings mandatory?

Board Meeting

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Views (4501)
Posted By: Rakesh 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?

Section 184- Disclosure of interest by director.

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Views (4235)
Posted By: Charu khatri 9 year(s) ago

Answer

Rule 8(3) of the Companies (Meetings of Board and its Powers) Rules, 2014 provides "to take note of appointment(s) or removal(s) o Read More
Rule 8(3) of the Companies (Meetings of Board and its Powers) Rules, 2014 provides "to take note of appointment(s) or removal(s) of one level below the Key Management Personnel." Query: who is covered under one level below KMP? Whether it cover- director, executive or non executive, independent director or other person.

Board of Directors

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Views (3976)
Posted By: Sushil kumar antal 10 year(s) ago

Answer

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

Section 3- Formation of company.

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Views (3970)
Posted By: Akansha 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.

Section 203- Appointment of key managerial personnel.

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Views (3863)
Posted By: Pradeep chugh 10 year(s) ago

Answer

Under Companies Act 1956 consent of shareholder for shorter notice was given in Form 22A. Is there any corresponding form under Co Read More
Under Companies Act 1956 consent of shareholder for shorter notice was given in Form 22A. Is there any corresponding form under Companies Act 2013 for shareholders consent for shorter notice as per Sec 101 (1).

Shareholders Meeting

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Views (3707)
Posted By: Mukund govindharajan 10 year(s) ago

Answer

Section 212 of the Companies Act,1956 required that Holding Company has to attach certain documents of Subsidiary Companies in the Read More
Section 212 of the Companies Act,1956 required that Holding Company has to attach certain documents of Subsidiary Companies in the Annual Report of Holding Company. There is no corresponding section (to 212 of old Act) in the new Act. However section 129 mandates consolidation of holding- subsidiary –associate company accounts. Whether Holding Company is still required to attach stand alone documents of subsidiary even after consolidation for 2014-15?

Accounts

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Views (3630)
Posted By: Vijay jani 10 year(s) ago

Answer

A Company was incorporated on 05-01-2013 and first financial year closed on 31-03-2014. As per the provisions of Section 166 of th Read More
A Company was incorporated on 05-01-2013 and first financial year closed on 31-03-2014. As per the provisions of Section 166 of the companies act 1956 , company could have held first AGM within 18 months i.e on 04-07-2014. As per section 96 of Companies Act 2013, company can hold AGM within 9 months i.e on or before 31-12-2014. Whether company needs to comply in this case with Companies Act 1956 or Companies Act 2013

Shareholders Meeting

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Views (3374)
Posted By: Pramod prabhudesai 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????

Section 197- Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits.

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Views (3051)
Posted By: Vasant patel 9 year(s) ago

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

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

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

Answer

If a company wish to allot shares by private placement to NRI/PIO then what requirement are to be complied with.Do we need to file Read More
If a company wish to allot shares by private placement to NRI/PIO then what requirement are to be complied with.Do we need to file any for with RBI also even when the money is received from their NRO account.

Private placement

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Views (2883)
Posted By: Anita 10 year(s) ago

Answer

Whether the Form DIR-8 is required to be obtained from all the existing directors at the beginning of the year (Apr 2014) and to b Read More
Whether the Form DIR-8 is required to be obtained from all the existing directors at the beginning of the year (Apr 2014) and to be placed in the Board Meeting?

Director

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Views (2757)
Posted By: Rishi harlalka 10 year(s) ago

Answer

company incorporated on 15-3-2014 & First Accounting period 15.3.14 to 31.3.2015. latest by what date 1st AGM should be fixed. Read More
company incorporated on 15-3-2014 & First Accounting period 15.3.14 to 31.3.2015. latest by what date 1st AGM should be fixed.

AGM

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Views (2711)
Posted By: Kishore chawla 9 year(s) ago

Answer

my company had incorporated on 04/03/2014 whether INC 21 is required to be filed Read More
my company had incorporated on 04/03/2014 whether INC 21 is required to be filed

Incorporation

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Views (2707)
Posted By: Purushottam lal agrawal 10 year(s) ago

Answer

How to Incorporate a Company? Read More
How to Incorporate a Company?

Incorporation

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Views (2529)
Posted By: Hitender tanwar 11 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 ?

Section 73- Prohibition on acceptance of deposits from public.

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Views (2499)
Posted By: Vasant patel 10 year(s) ago

Answer

In a Pvt Ltd, in 2013 a promoter director was appointed as an executive director at a remuneration beyond the present notified sch Read More
In a Pvt Ltd, in 2013 a promoter director was appointed as an executive director at a remuneration beyond the present notified schedule V. Whether the remuneration holds good after 01.04.2014

Director

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Views (2489)
Posted By: Radhika 10 year(s) ago

Answer

What is time limit for appointment of internal Auditor if we want to appoint internal auditor for the Year 2015-16 Read More
What is time limit for appointment of internal Auditor if we want to appoint internal auditor for the Year 2015-16

Auditors

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Views (2472)
Posted By: Jitesh 9 year(s) ago

Answer

I want to file INC-1 with proposed name includes the word 'financial' which requires central government approval. How to get it? w Read More
I want to file INC-1 with proposed name includes the word 'financial' which requires central government approval. How to get it? what is the formal procedure

Incorporation

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Views (2414)
Posted By: Mayank 9 year(s) ago

Answer

The code of conduct for Independent Director prescribes for holding of meeting of Independent Directors every year. Who is respon Read More
The code of conduct for Independent Director prescribes for holding of meeting of Independent Directors every year. Who is responsible to call the meeting and what would be the role of Company in this meeting?

Independent Director

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Views (2329)
Posted By: Anjali 11 year(s) ago

Answer

Is it necessary to sign the profit and loss account and Balance Sheet while uploading the form 23AC/23ACA or the same can be uploa Read More
Is it necessary to sign the profit and loss account and Balance Sheet while uploading the form 23AC/23ACA or the same can be uploaded by putting sd/- in the signature? Please clarify. There are various views on this.

Accounts

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Views (2328)
Posted By: Raghu k 10 year(s) ago

Answer

Dear Sir Sub-section 6 of the Section 149 of Comapnies Act 2013 provides for meaning of idependent Director and cluse (c) & (d) o Read More
Dear Sir Sub-section 6 of the Section 149 of Comapnies Act 2013 provides for meaning of idependent Director and cluse (c) & (d) of sub-section 6 of section 149 of Co. Act, 2013 provides that Indednepent Director or his relaives has or had no pecuniary relationship or transaction with Company, its holding, subsidiay or associate company etc. Please explain the meaning of "Pecuniary Relationship" and "pecuniary transactions"

Independent Director

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Views (2317)
Posted By: Vasant patel 9 year(s) ago

Answer

Can a private company take unsecured loan on interest from its director? if yes, then is there any restriction on the rate of inte Read More
Can a private company take unsecured loan on interest from its director? if yes, then is there any restriction on the rate of interest?

Fund raising

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Views (2316)
Posted By: Akhand 10 year(s) ago

Answer

Could you pl update status on Draft Notification No. F. No. 1/1/2014-CL.V u/s 462 of companies Act 2013 which was placed in Lok Sa Read More
Could you pl update status on Draft Notification No. F. No. 1/1/2014-CL.V u/s 462 of companies Act 2013 which was placed in Lok Sabha on 14th July 2014? As per 462, it has already passed totally 30 days. Whether it will be notified by default after the current session of parliament ?

Implementation of new law

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Views (2283)
Posted By: Balachandran 10 year(s) ago

Answer

Hi Everyone, Kindly address my query. Our Company "Z india limited" is a Indian Public unlisted company having subsidiaries in Read More
Hi Everyone, Kindly address my query. Our Company "Z india limited" is a Indian Public unlisted company having subsidiaries in Indian as well as abroad. The foreign subsidiary i.e. "F Singapore Limited" has further subsidiaries "A india ltd" and "B india limited". Q1. Kindly let me know if foreign company is also required to consolidate the accounts of its subsidiaries. Secondly, the indian subsidiary of Z limited also have further subsidiaries. Kindly let me know the following Q2. standalone accounts of subsidiaries would be combined with holding Company or consolidated accounts would be combined. Kindly help

Accounts

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Views (2278)
Posted By: Haryana 9 year(s) ago

Answer

Is there any list of sections not applicable to private limited company in Co Act 2013 Read More
Is there any list of sections not applicable to private limited company in Co Act 2013

Compliances

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Views (2272)
Posted By: Vishwaradhya 9 year(s) ago

Answer

Post incorporation Procedure to be followed by private limited company Read More
Post incorporation Procedure to be followed by private limited company

Incorporation

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Views (2271)
Posted By: Aishwarya 9 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 ?

Section 188- Related party transactions.

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Views (2261)
Posted By: Vasant patel 9 year(s) ago

Answer

A pvt Co has two directos - A and B. Director A resigns u/s 168 and there is a casual vacancy and the number of Director resulted Read More
A pvt Co has two directos - A and B. Director A resigns u/s 168 and there is a casual vacancy and the number of Director resulted in less than minimum two.It is proposed that the continuing director B complying with Sec174(2) hold a Board meeting for a limited purpose of appointing a new director C to fill up casual vacancy caused by resignation of A and appointment confirmed in AGM to comply provisions u/s152(2). Is is permitted? Or C is to be compulsorily appointed as Addl Director u/s 161(1)?

Director

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Views (2189)
Posted By: Sreenivasa rao 10 year(s) ago

Answer

Affidevitt of all the members are required for conversion of co-operative society to Company ? Form URC-1 states the requirement Read More
Affidevitt of all the members are required for conversion of co-operative society to Company ? Form URC-1 states the requirement by way of attachment as Affidevitt from Members / partners. Kindly clarify.

Incorporation

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Views (2187)
Posted By: Atul kulkarni 9 year(s) ago

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??

Section 149- Company to have Board of directors.

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Views (2176)
Posted By: Akjain 9 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.

Section 62- Further issue of share capital.

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Posted By: Vasant patel 9 year(s) ago

Answer

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Posted By: Vishal arora 10 year(s) ago

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Posted By: R balasubramanian 9 year(s) ago

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Posted By: Haryana 9 year(s) ago

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Posted By: Ashok 10 year(s) ago

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Posted By: Vivek vijay 10 year(s) ago

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Posted By: Damini chopra 9 year(s) ago

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Section 185- Loan to directors, etc.

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

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Posted By: Arun kumar 10 year(s) ago

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Posted By: Anita 10 year(s) ago

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Posted By: Latha 10 year(s) ago

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Posted By: Prekshi gupta 10 year(s) ago

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Posted By: Ashutosh 9 year(s) ago

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Section 62- Further issue of share capital.

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Posted By: Kanika gupta 10 year(s) ago

Answer

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Section 203- Appointment of key managerial personnel.

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Posted By: Akansha 10 year(s) ago

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Posted By: Krishna kumar gaggar 10 year(s) ago

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Posted By: Anita 10 year(s) ago

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Section 62- Further issue of share capital.

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Posted By: Satish kshirsagar 9 year(s) ago

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Posted By: Anita 9 year(s) ago

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Posted By: Rakesh 10 year(s) ago

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Posted By: Pooja garg 8 year(s) ago

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Posted By: Revati galgali 10 year(s) ago

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Posted By: Ravinder 9 year(s) ago

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Posted By: Nidhi goel 10 year(s) ago

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Section 62- Further issue of share capital.

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Posted By: Vivek vijay 10 year(s) ago

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Section 203- Appointment of key managerial personnel.

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Posted By: Vinay tripathi 9 year(s) ago

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Posted By: Monali sharma 10 year(s) ago

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Posted By: Vijay khera 8 year(s) ago

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Posted By: Prerna kapoor 9 year(s) ago

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

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Posted By: Latha 10 year(s) ago

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Posted By: Ravinder 9 year(s) ago

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Posted By: Himanshu 8 year(s) ago

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Section 179- Powers of Board.

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Posted By: Akansha 10 year(s) ago

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Posted By: Nava bharat ventures limited 9 year(s) ago

Answer

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Posted By: U l basak & co. 9 year(s) ago

Answer

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Section 42 - Issue of shares on private placement basis.

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Views (1726)
Posted By: Prekshi gupta 10 year(s) ago

Answer

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Posted By: Cs anuj solanki 9 year(s) ago

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Section 188- Related party transactions.

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Posted By: Anita 10 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
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Section 188- Related party transactions.

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Posted By: Anita 10 year(s) ago

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Posted By: Nandini 8 year(s) ago

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Posted By: Mookambika r 10 year(s) ago

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Section 188- Related party transactions.

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Posted By: Suresh 9 year(s) ago

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Posted By: Vishal arora 9 year(s) ago

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Section 179- Powers of Board.

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Posted By: Suresh 9 year(s) ago

Answer

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Section 188- Related party transactions.

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Posted By: Anita 9 year(s) ago

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

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Posted By: Arun kumar 10 year(s) ago

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Section 13- Alteration of memorandum.

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Views (1655)
Posted By: Reena 10 year(s) ago

Answer

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Section 186- Loan and investment by company.

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Posted By: Dhavneesh gupta 9 year(s) ago

Answer

A company has appointed statutory auditors for the financial year 2013-14 on 15/7/14 due to retirement of previous auditors.The co Read More
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Auditors

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Posted By: Duttalahiri & co 10 year(s) ago

Answer

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Section 42 - Issue of shares on private placement basis.

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Posted By: Sandhya 10 year(s) ago

Answer

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Winding-up

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Posted By: V. maslekar 9 year(s) ago

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
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Section 139- Appointment of auditors.

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Views (1598)
Posted By: Prerna kapoor 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
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Section 203- Appointment of key managerial personnel.

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Views (1597)
Posted By: Latha 10 year(s) ago

Answer

can a section 8 company show its capital under paid up capital Read More
can a section 8 company show its capital under paid up capital

Small Company

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Views (1590)
Posted By: Ca.kousik ghosh 9 year(s) ago

Answer

process of winding up of a pvt ltd co. with form name Read More
process of winding up of a pvt ltd co. with form name

Winding-up

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Views (1584)
Posted By: Anshul mittal 10 year(s) ago

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

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Views (1576)
Posted By: Meenu 10 year(s) ago

Answer

Private company allot the further equity shares to directors. is it attract private placement/preferential provisionu/s 42 or u/c Read More
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Private placement

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Views (1574)
Posted By: Nitin 10 year(s) ago

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

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

Answer

Hello ,my private company wants to for right issue , we need to give offer to all existing sharehlders , now i want to give offer Read More
Hello ,my private company wants to for right issue , we need to give offer to all existing sharehlders , now i want to give offer only 4 members not everyone , is this valid?

Fund raising

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Views (1558)
Posted By: Ashish 9 year(s) ago

Answer

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Fund raising

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Views (1558)
Posted By: Manoher lal goyal 9 year(s) ago

Answer

SIR, A PRIVATE COMPANY RECD FUND ON 05-06-2014 FROM NRI FOR THE ALLOTMENT OF SHARES (SHARE APPLICATION MONEY BUT THE COMPANY HAS Read More
SIR, A PRIVATE COMPANY RECD FUND ON 05-06-2014 FROM NRI FOR THE ALLOTMENT OF SHARES (SHARE APPLICATION MONEY BUT THE COMPANY HAS NOT COMPLIED WITH ANY PROVISIONS OF COMPANY LAW 2014 FOR ALLOTMENT OF SHARES CAN ITT BE COMPLIED BY PAYING ADDITIONAL FEES TO ROC ON ALL THE FORM LIKE MGT-14 PAS -3 ETC

Private placement

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Views (1556)
Posted By: Reena 10 year(s) ago

Answer

If Company Issue Shares in Consideration other than Cash to its existing shareholders under Section 62(1)(c) of compnaies Act, 201 Read More
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Board Meeting

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Views (1551)
Posted By: Rajesh lakhanpal 9 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
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Section 2 - Definitions

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Views (1546)
Posted By: Manoj kumar koyalkar 10 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'?

Section 139- Appointment of auditors.

Reply
Views (1545)
Posted By: Bandaru 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

Section 2 - Definitions

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

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.?

Section 76- Acceptance of deposits from public by certain companies.

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Views (1520)
Posted By: Kanika gupta 9 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

Section 203- Appointment of key managerial personnel.

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Views (1514)
Posted By: Rajat 10 year(s) ago

Answer

If in a private company there are 2 directors & both the directors are interested in a particular Board Resolution, then cant the Read More
If in a private company there are 2 directors & both the directors are interested in a particular Board Resolution, then cant the resolution be passed? If no, then how can be the resolution passed?

Director

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Views (1487)
Posted By: Suresh 10 year(s) ago

Answer

For a closely held Public Company, can Annual General Meeting (AGM) be held at shorter notice. If yes, what is the procedure for Read More
For a closely held Public Company, can Annual General Meeting (AGM) be held at shorter notice. If yes, what is the procedure for the same.

Implementation of new law

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Views (1478)
Posted By: Arun kumar 10 year(s) ago

Answer

Can Folio number of the register of members be changed Read More
Can Folio number of the register of members be changed

Fund raising

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Views (1474)
Posted By: Suman jain 8 year(s) ago

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?

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

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

Answer

A Person wants to Transfer its shares in an unlisted public company, registered office of which is situated at Nagpur and both Tra Read More
A Person wants to Transfer its shares in an unlisted public company, registered office of which is situated at Nagpur and both Transferor and Transferee blong toPanipat ,a city in Haryana and they will execute the Form SH-4 in Panipat only. Under which act Stamp Duty will be paid Maharashtra or Haryana??. If maharashtra how will they purchase Share Transfer Stamp as they both are based in haryana. and How will Market Price of shares be calculated, as stamp on share transfer is .25 % on Consideration Paid or Market Price of the Shares , whichever is higher?.

Compliances

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Views (1451)
Posted By: Mahak 9 year(s) ago

Answer

A public limited company having a paid up capital of 9 Crore Rs. appoints a Company Secretary, whether such CS so appointed will b Read More
A public limited company having a paid up capital of 9 Crore Rs. appoints a Company Secretary, whether such CS so appointed will be treated as Key Manegerial Personnel or not and whether Form MR-1 is to be filed along with Form DIR-12 in its respect or not?

KMP

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Views (1443)
Posted By: Atul 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.

Section 188- Related party transactions.

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

Answer

Compliance certificate for FY 1314 to be obtained from PCS is governed by Sec 383A of CA 1956. Proviso to Sec 383A(1) states that Read More
Compliance certificate for FY 1314 to be obtained from PCS is governed by Sec 383A of CA 1956. Proviso to Sec 383A(1) states that the certificate shall relate to compliances under this act. However 98 sections of CA 2013 were made effective from Sept 2013. In light of these facts, is it necessary for the PCS to report on compliances under CA 2013 as well for FY 1314?

Compliances

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Views (1421)
Posted By: Latha 10 year(s) ago

Answer

As per new CA-13, in case of appointment of KMP we hv to file Form MGT-14 as well as MR-1.In a private companies wher the KMP is n Read More
As per new CA-13, in case of appointment of KMP we hv to file Form MGT-14 as well as MR-1.In a private companies wher the KMP is not required, if we appoint a Director as a whole time Director, do we need to file the above two forms and also require to follow the sch V for payment of remuneration or we can appoint the person as a non executive Director and pay any remuneration as remuneration restrictions are not applicable to private companies.will Paying a full fledged remuneration make him a whole time director

Director

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Posted By: Anita 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?

Section 184- Disclosure of interest by director.

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Views (1405)
Posted By: Deepak gulati 10 year(s) ago

Answer

An auditor is doing statutory audit from last 07 yrs.(i.e from 2008)of a Pvt.Ltd.Company.Can he still be appointed as auditor as p Read More
An auditor is doing statutory audit from last 07 yrs.(i.e from 2008)of a Pvt.Ltd.Company.Can he still be appointed as auditor as per new companies act.

Auditors

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Views (1400)
Posted By: Kamlesh 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.

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

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Views (1397)
Posted By: Cs deepesh kumar nayak 10 year(s) ago

Answer

do we need to file charge first or the condonation for delay then the charge for the due registration which has crossed 300 days Read More
do we need to file charge first or the condonation for delay then the charge for the due registration which has crossed 300 days

Charges

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Views (1394)
Posted By: Akila 9 year(s) ago

Answer

MCA has amended companies(acceptance of deposits) Rules, 2014 which says any amount which is disclosed in the b/s of a company for Read More
MCA has amended companies(acceptance of deposits) Rules, 2014 which says any amount which is disclosed in the b/s of a company for the F.Y. ending 31st march 2014 against which allotment is pending on 31st march 2015, such company shall return such amounts to the person or allot shares, debentures etc. my query is what will be the allotment procedures.

Compliances

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Views (1391)
Posted By: Kamal 9 year(s) ago

Answer

Has it become mandatory to appoint KMP from April 1, 2014 or do we have transition period of 6 months for the same Read More
Has it become mandatory to appoint KMP from April 1, 2014 or do we have transition period of 6 months for the same

KMP

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Views (1391)
Posted By: Khushboo 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.

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

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

Answer

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

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

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

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?

Section 184- Disclosure of interest by director.

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Posted By: Latha 10 year(s) ago

Answer

A Private Limited Company has filed e form ADT-1 in respect of appointment of a Proprietory firm of Chartered Accountant on 3rd Oc Read More
A Private Limited Company has filed e form ADT-1 in respect of appointment of a Proprietory firm of Chartered Accountant on 3rd October 2015. The CA firm has now informed the company that there is change in Constitution of their firm and w.e.f 01.04.2016 it has become a Partnership firm with new Income Tax Pan Number. Should the company now file a fresh ADT -1? If so effective from which date? Please clarify

Auditors

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Views (1378)
Posted By: V. maslekar 8 year(s) ago

Answer

Could you pl clarify whether one of our client falls under the definition of "Small Company" whose paid up capital is 16.60 crores Read More
Could you pl clarify whether one of our client falls under the definition of "Small Company" whose paid up capital is 16.60 crores and turnover of 9 crores for the financial year ending 31st March 2014?

Small Company

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Views (1377)
Posted By: Balachandran 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?

Section 2 - Definitions

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

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.

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

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Posted By: Shashank 9 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.

Section 2 - Definitions

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Views (1346)
Posted By: Girish sanghavi 8 year(s) ago

Answer

In case of pvt company a person is a relative and a shareholder. Can he lend money to the company without being subject to the cei Read More
In case of pvt company a person is a relative and a shareholder. Can he lend money to the company without being subject to the ceiling of 100% of paid up capital and free reserves and share premium?. Can he lend money to the company as a relative without any ceiling on the borrowing?

Fund raising

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Views (1339)
Posted By: Latha 8 year(s) ago

Answer

when we file form CGH 1 on behalf of company , is it necessary to have pan no. & digital signature of Charge holder, because when Read More
when we file form CGH 1 on behalf of company , is it necessary to have pan no. & digital signature of Charge holder, because when we filed for SBI IT IS NOT REQUIRED & when we filed for Axis bank it is requird, Please clarify the position.

Charges

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Views (1337)
Posted By: Suresh kothari 10 year(s) ago

Answer

A private company has taken a loan from bank against a Fixed Deposit which is in the name of the director of the company. Would t Read More
A private company has taken a loan from bank against a Fixed Deposit which is in the name of the director of the company. Would this Fixed Deposit amount be treated as loan or deposit from the director to the company??

Fund raising

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Views (1322)
Posted By: Suresh 9 year(s) ago

Answer

Should the company register charge with ROC for availing loan against fixed deposits Read More
Should the company register charge with ROC for availing loan against fixed deposits

Charges

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Views (1306)
Posted By: Arun kumar 10 year(s) ago

Answer

Incase of a private limited company, where directors have paid the expenses incurred by company through their personal funds. Now, Read More
Incase of a private limited company, where directors have paid the expenses incurred by company through their personal funds. Now, company is finding it difficult to pay back the directors, can company issue shares in lieu of cash to directors? Yes, what will be the procedure for the same.

Fund raising

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Views (1295)
Posted By: Neha mittal 9 year(s) ago

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.

Section 138- Internal Audit.

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Views (1289)
Posted By: Dhavneesh gupta 9 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

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

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Views (1289)
Posted By: Rajesh chopra 9 year(s) ago

Answer

As per The Companies (Acceptance of Deposits) Rule 2014 – deposit shall not include – “ any amount received and held pursuant to a Read More
As per The Companies (Acceptance of Deposits) Rule 2014 – deposit shall not include – “ any amount received and held pursuant to an offer made in accordance with the provisions of the Act towards subscription to any securities, including share application money…..” It is further clarified that if the amount is not allotted within 60 days of receipt and not refunded within 15 days of completion of 60 days, then the amount shall be treated as deposit. Now, if a company is having share application money as on 31/03/2014, i.e. amount received under earlier Act and not allotted within 60 days of receipt. Also, it could not be refunded with 15 days of completion of 60 days. I have query- whether this amount be treated as deposit or not, as the amount received as share application money under Companies Act 1956 not in the provision of this Act.

Fund raising

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Views (1288)
Posted By: Sanjay 10 year(s) ago

Answer

IN A PRIVATE SHAREHOLDERS WANT TO REMOVE A DIRECTOR . WHAT WILL BE MODE OF DISPATCH OF SPECIAL NOTICE TO THE CONCERN DIRECTOR .CAN Read More
IN A PRIVATE SHAREHOLDERS WANT TO REMOVE A DIRECTOR . WHAT WILL BE MODE OF DISPATCH OF SPECIAL NOTICE TO THE CONCERN DIRECTOR .CAN IT BE GIVEN BY HAND OR BY COURIER .IF THE CONCERNED DIRECTOR DOES NOT ATTEND AND REPRESENT HIMSELF AT EOM CAN IT BE REMOVED BY COMPANY

Board Meeting

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

Answer

1.Is it mandatory to issue shares only to an existing shareholder in case of Rights Issue under CA 2013? Alternatively, can existi Read More
1.Is it mandatory to issue shares only to an existing shareholder in case of Rights Issue under CA 2013? Alternatively, can existing member renounce the offer in favour of a new person or a person who is not a shareholder of the company.

Fund raising

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Views (1270)
Posted By: V. maslekar 8 year(s) ago

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"

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

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Views (1232)
Posted By: Ansari 8 year(s) ago

Answer

IN THE CASE OF A PRIVATE COMPANY WHICH HAS ACQUIRED 100 PERCENT SHARES OF ANOTHER PRIVATE COMPANY AND MADE THE OTHER COMPANY AS I Read More
IN THE CASE OF A PRIVATE COMPANY WHICH HAS ACQUIRED 100 PERCENT SHARES OF ANOTHER PRIVATE COMPANY AND MADE THE OTHER COMPANY AS ITS WHOLLY OWNED SUBSIDIARY, FOR QUORUM PURPOSE HAS TO HAVE TWO MEMBERS. THE QUERY IS WHETHER MGT-4 SHOULD BE GIVEN BY THE COMPANY AND MGT-5 TOBE GIVEN BY THE NOMINESS WHOS IS THE DEFACTO HOLDER OF SAY ONE OR 10 SHARES. OFCOURSE THE MGT-6 IS GILED BY THE SUBSIDIARY COMPANY WITH ROC.

Compliances

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Views (1218)
Posted By: P k krishnamurthy 9 year(s) ago

Answer

A PUBLIC COMPANY HAS THREE DIRECTORS AND ONE DIRECTOR HAS RESIGNED ON 30.06.2016. THE NUMBERS OF DIRECTORS FALLS BELOW THE MINIMUM Read More
A PUBLIC COMPANY HAS THREE DIRECTORS AND ONE DIRECTOR HAS RESIGNED ON 30.06.2016. THE NUMBERS OF DIRECTORS FALLS BELOW THE MINIMUM 3 DIRECTORS REQUIRED FOR PUBLIC COMPANIES. THE COMPANY HAS NOT APPOINTED NEW DIRECTOR TILL DATE. WHAT IS THE TIME REQUIRED FOR APPOINTMENT OF NEW DIRECTOR AND WHAT ARE CONSEQUENCES FOR DELAY IN APPOINTMENT. PLEASE ADVISE.

Board of Directors

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Views (1214)
Posted By: Ravinder 8 year(s) ago

Answer

A is a private Limited company has lien its fixed deposit with Bank. So that Bank can issue a Bank Guarnatee in favour of B Pvt. L Read More
A is a private Limited company has lien its fixed deposit with Bank. So that Bank can issue a Bank Guarnatee in favour of B Pvt. Ltd. for this type of transaction whether CHG-1 is required to be filed by A and B private Limited. Please advice

Charges

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Views (1207)
Posted By: Roshan 9 year(s) ago

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 .

Section 85- Company's register of charges.

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Views (1192)
Posted By: Anil 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?

Section 173- Meetings of Board.

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

Answer

To appoint a whole time director in a private limited co, what are the resolutions ( BR or EGM) and which forms need to be filed t Read More
To appoint a whole time director in a private limited co, what are the resolutions ( BR or EGM) and which forms need to be filed to RoC ?

KMP

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Views (1163)
Posted By: Manouj agrawaal, fca, partner 9 year(s) ago

Answer

Can a Private Limited Company accept loan from a Partnership firm. The partners are no way related to the Private Limited Company. Read More
Can a Private Limited Company accept loan from a Partnership firm. The partners are no way related to the Private Limited Company. if no under which section or Rules.

Fund raising

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Views (1146)
Posted By: Divakaran suresh 8 year(s) ago

Answer

As per section 184(1), directors shall disclose their interest in other companies/concerns in the first board meeting and the same Read More
As per section 184(1), directors shall disclose their interest in other companies/concerns in the first board meeting and the same shall be noted by means of a resolution. Is there any requirement to file this resolution with the ROC ?

Disclosures

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Views (1139)
Posted By: Unnikrishnan n 10 year(s) ago

Answer

Can a public limited company not falling under the prescribed class of companies for Sec 203 appoint all its directors as non-exec Read More
Can a public limited company not falling under the prescribed class of companies for Sec 203 appoint all its directors as non-executive?

KMP

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Views (1115)
Posted By: Latha 9 year(s) ago

Answer

Is it compulsory for the Directors to file DIR 8 with the companies in which they are Directors if any of their company is in defa Read More
Is it compulsory for the Directors to file DIR 8 with the companies in which they are Directors if any of their company is in default of annual filing. Further DIR 9 is about what. Is it necessary for all the company who hv defaulted in annual filing to file this form with ROC.

Director

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Views (1098)
Posted By: Anita 10 year(s) ago

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??

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

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

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

Section 2 - Definitions

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

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

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

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

Answer

Dear all, a company X incorporated in US want to invest in the equity shares of Indian company under automatic route. the Indian Read More
Dear all, a company X incorporated in US want to invest in the equity shares of Indian company under automatic route. the Indian company doing the business of aquaculture activity, whether it is allowed please confirm and if so what is the procedure for the investment. both are not related party thanks \bhoopathy

Fund raising

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Views (1043)
Posted By: Raja ram bhoopathy 9 year(s) ago

Answer

IF A COMPANY DOES NOT HAVE ADEQUATE PROFIT OR HAS INCURRED LOSS THEN WHAT IS THE AMOUNT OF REMUNERATION THAT CAN BE PAID TO THE EX Read More
IF A COMPANY DOES NOT HAVE ADEQUATE PROFIT OR HAS INCURRED LOSS THEN WHAT IS THE AMOUNT OF REMUNERATION THAT CAN BE PAID TO THE EXECUTIVE DIRECTORS INCLUDING MANAGING DIRECTOR.

Director

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Views (1028)
Posted By: Divakaran suresh 9 year(s) ago

Answer

A Private Limited Company is taking Loan from Bank and its other 2 Associate Company gives guarantee for that Loan, and directors Read More
A Private Limited Company is taking Loan from Bank and its other 2 Associate Company gives guarantee for that Loan, and directors are common in all 3 Companies. Is Section-185 is applicable to it?

Fund raising

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Views (1021)
Posted By: Anupma khanna 8 year(s) ago

Answer

Do we need to maintain the Video recording of the proceeding of the Board Meeting even if the Quorum is present physically and onl Read More
Do we need to maintain the Video recording of the proceeding of the Board Meeting even if the Quorum is present physically and only one director is attending through Video conferencing?

Board Meeting

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Views (1005)
Posted By: Kushal 8 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?

Section 173- Meetings of Board.

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

Answer

Does the Companies Act 2013 require mandatory maintenance of all the registers in electronic form. Further, should the entries mad Read More
Does the Companies Act 2013 require mandatory maintenance of all the registers in electronic form. Further, should the entries made in the Registers prior to 31st March 2014 also need to be re-entered in the new format under the Companies Act 2013.

Compliances

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Views (955)
Posted By: Arun kumar 10 year(s) ago

Answer

A Private Limited Company has accumated losses of Rs.70 lacs for FY 2014.15. Based on Valuation Report, which has valued Equity Sh Read More
A Private Limited Company has accumated losses of Rs.70 lacs for FY 2014.15. Based on Valuation Report, which has valued Equity Share at Rs.15,000/- per share based on Discounted Cash flow method by an approved Valuer, can now allot Shares at a Premium of Rs.14,990/-?

Fund raising

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Views (941)
Posted By: V. maslekar 8 year(s) ago

Answer

Can articles provide for two votes per seat for executive directors on certain matters? Read More
Can articles provide for two votes per seat for executive directors on certain matters?

Director

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Views (919)
Posted By: Khushboo khatreja 8 year(s) ago

Answer

This is regarding associate and subsidiary companies. As per new act even the loan given to subsidiary companie by its holding com Read More
This is regarding associate and subsidiary companies. As per new act even the loan given to subsidiary companie by its holding companies are not exempt except in case of 100% subsidiaries. If a company holds the entire share capital of its subsidiary except one share ehich is held by one of the holding as well as subsidiary company's Director(all the Directors are same in both the companies) will it be treated as 1005 subsidiary or the one share must be held as a nominee by complying with the beneficial interest requirement to make it a 1005 subsidiary

Associate

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Views (855)
Posted By: Anita 10 year(s) ago

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.

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

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Views (22198)
Posted By: Amish 10 year(s) ago

Answer

While preparing MGT-7 & AOC-4, we need to fill in the Business Activity and Classification Code. In MCA Site there is a download Read More
While preparing MGT-7 & AOC-4, we need to fill in the Business Activity and Classification Code. In MCA Site there is a download availabl by the name: NIC-2004_detail_19jan2009 In AOC-4, they are asking for Product or service category code (ITC/ NPCS 4 digit code). When I googled for (ITC/ NPCS 4 digit code), I found 1. ITC-HS Codes in 477 pages and 2. National Product Classification for Services Sector Can you please explain which of these is relevant for us?

Implementation of new law

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Views (20004)
Posted By: Vithal kumar pingali 9 year(s) ago

Answer

Can Pvt. Ltd. company convert unsecured loan of promoter into Equity capital.? what,s the precautions to be taken care of. Kindly Read More
Can Pvt. Ltd. company convert unsecured loan of promoter into Equity capital.? what,s the precautions to be taken care of. Kindly guide

Private placement

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Views (17379)
Posted By: Ravi 9 year(s) ago

Answer

Can any Company issue securities for consideration other than cash under the Companies Act, 2013? If yes, then the procedure to be Read More
Can any Company issue securities for consideration other than cash under the Companies Act, 2013? If yes, then the procedure to be followed for such issue? Also, if there is any restriction on such issue?

Fund raising

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Views (10688)
Posted By: Ashok 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.

Section 129- Financial statement.

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Views (9995)
Posted By: Shiv kumaran 9 year(s) ago

Answer

Attachments to e form AOC-4- Should we attach Scanned Copies of Original Signed Copies or pdf converted word /Excel as "Signed". A Read More
Attachments to e form AOC-4- Should we attach Scanned Copies of Original Signed Copies or pdf converted word /Excel as "Signed". Are there any restrictions on Size of the file to be uploaded?

AGM

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Views (9133)
Posted By: V. maslekar 9 year(s) ago

Answer

The Companies Act 2013, provides for voting by electronic means by shareholders at general meeting - Section 108. Draft Rules 7.18 Read More
The Companies Act 2013, provides for voting by electronic means by shareholders at general meeting - Section 108. Draft Rules 7.18 1 specifies that listed companies and companies with more than 500 shareholders may provide for electronic voting for section 108. Under Companies Act 1956, the Circular 72/2011 dt 27.12.2011 under Green Initiative provides it is optional for companies to provide for share holders participation at general meetings through video conferencing. There is no such mention of participation of shareholders through video conferencing at general meetings in the Companies Act 2013 and draft rules. Does that mean that the option of video conferencing facility for share holders participation in general meetings is dropped under Companies Act 2013.Hence can it be concluded that under Companies Act 2013 even as an option the company can no more provide video conferencing facility to share holders for participation in General Meetings. [by. G Mukund]

Shareholders Meeting

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Posted By: Vivek vijay 11 year(s) ago

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?

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

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Views (8129)
Posted By: Vishal arora 10 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?

Section 196- Appointment of managing director, whole-time director or manager.

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Views (8041)
Posted By: Vijay shankar 8 year(s) ago

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?

Section 123- Declaration of dividend.

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

Answer

As per Section 403 of the Companies Act, 2013 if a particular form is not filed within the time specified, the same can be filed Read More
As per Section 403 of the Companies Act, 2013 if a particular form is not filed within the time specified, the same can be filed within a period of 270 days with additional fees. However, if the delay in filing is beyond 270 days (including the time limit specified under the relevant provision) than, what is the procedure to be followed and if it leads to filing of condonation of delay , what is the prescribed form in which application is required to be made to the Central Government?

Compliances

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Posted By: Manoj kumar koyalkar 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.

Section 185- Loan to directors, etc.

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Views (7515)
Posted By: Vishal arora 9 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

Section 203- Appointment of key managerial personnel.

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Views (7355)
Posted By: Vasant patel 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?

Section 197- Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits.

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Posted By: Hemal 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.

Section 197- Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits.

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Views (5500)
Posted By: Mookambika r 9 year(s) ago

Answer

The appointment of statutory auditors require filing of Form ADT1 within 15 days of the AGM. The act permits appointment of statut Read More
The appointment of statutory auditors require filing of Form ADT1 within 15 days of the AGM. The act permits appointment of statutory auditor for more than a year with ratification by shareholders at every AGM. Form ADT1 does not have field relating to the period for which the stat.auditor is appointed. However Form GNL2 to which ADT1 is to be attached has to be filled with financial year to which it applies. Should we state just one year that is the 1st yr or the entire tenure say 3 yrs or 5 yrs as the case may be in GNL2?. Should the ratification be followed by filing of ADT1 within 15 days every year for the whole tenure? Though a similar query is recently raised, I would like to have specific reply. Hence the query.

Auditors

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Posted By: Latha 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)

Section 186- Loan and investment by company.

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Views (5072)
Posted By: Hitender tanwar 10 year(s) ago

Answer

Dear All, In the Form AOC-4, ADDT-1 SRN number is mandatory, We filed GNL-2 for appointment of auditors for the last year, if w Read More
Dear All, In the Form AOC-4, ADDT-1 SRN number is mandatory, We filed GNL-2 for appointment of auditors for the last year, if we fill the GNL-2 SRN it showing the error message while uploading i.e. Invalid GNL-2 SRN Number. Can we attach letter and fill the ADT-1 which we filed for the year 2015-16 and upload? Please suggest us in this regard.

Compliances

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Views (4996)
Posted By: Sreenivas babu 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.

Section 185- Loan to directors, etc.

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Views (4897)
Posted By: Sunil kumar agrawal 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

Section 139- Appointment of auditors.

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Posted By: Chirag shah 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

Section 77- Duty to register charges, etc.

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Posted By: Kanika gupta 9 year(s) ago

Answer

Companies Act 2013 specifies age limit for appointment of Managing Director, Whole Time Director etc.. Now, is there any age limit Read More
Companies Act 2013 specifies age limit for appointment of Managing Director, Whole Time Director etc.. Now, is there any age limit specified under Companies Act 2013 for appointment of ordinary Directors?

Director

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Views (4617)
Posted By: Shiv kumaran 10 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.

Section 185- Loan to directors, etc.

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Views (4368)
Posted By: Sunil kumar agrawal 9 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 ?

Section 168- Resignation of director.

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Views (4306)
Posted By: Amardeepduggal 7 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 ?

Section 62- Further issue of share capital.

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Views (4098)
Posted By: Arun rajabhau joshi 8 year(s) ago

Answer

In AOC-2 under point (2) , whether details of transactions which are on arm’s length basis to be provided therein shall be entered Read More
In AOC-2 under point (2) , whether details of transactions which are on arm’s length basis to be provided therein shall be entered in the ordinary course of business or not or both?

AGM

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Views (4020)
Posted By: Mihir panchmatya 9 year(s) ago

Answer

Whether Affidavit in Form INC-9 is required on plain paper or on Stamp paper? And if on stamp paper than what is the value of Stam Read More
Whether Affidavit in Form INC-9 is required on plain paper or on Stamp paper? And if on stamp paper than what is the value of Stamp paper required

Incorporation

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Posted By: Dhavneesh gupta 10 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?

Section 14- Alteration of articles.

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Views (3785)
Posted By: Latha 9 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?

Section 184- Disclosure of interest by director.

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

Answer

A wholly owned subsidiary wants to issue zero coupon bonds to its holding company. The bonds will be of 5 years . Can zero coupon Read More
A wholly owned subsidiary wants to issue zero coupon bonds to its holding company. The bonds will be of 5 years . Can zero coupon bonds be issued under new companies act, 2013. Both the companies are not NBFC companies. which sections and rules govern the issue of zero coupon bonds?

Fund raising

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Views (3627)
Posted By: Comsec 10 year(s) ago

Answer

How to change designation of wholetime director to director? He will be paid monthly salary uptodate. Next month onwards he is not Read More
How to change designation of wholetime director to director? He will be paid monthly salary uptodate. Next month onwards he is not receiving any salary? What is the procedure to change designation f wholetime director to ordinary director in closely held unlisted company.

Director

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Views (3591)
Posted By: Fairanddeal2008 7 year(s) ago

Answer

Sec.11 of the Companies Act,2013 has been omitted consequent to Amended Act,2015. Is it correct to interpret that the said section Read More
Sec.11 of the Companies Act,2013 has been omitted consequent to Amended Act,2015. Is it correct to interpret that the said section shall continues to apply for Companies incorporated prior to 29th May, 2015? If so since form INC 21 stands withdrawn , how a company can file this document to obtain Commencement Certificate? Please help

Incorporation

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Views (3461)
Posted By: V. maslekar 9 year(s) ago

Answer

Could you pl confirm whether to carry out CSR activity, a company can float a charitable trust as settlor and PROMOTER director Read More
Could you pl confirm whether to carry out CSR activity, a company can float a charitable trust as settlor and PROMOTER director as Trustees.Can this new Trust shall carry out the CSR activities on behalf of Company or for other companies also?

CSR

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Views (3452)
Posted By: Sanjay dewan 10 year(s) ago

Answer

Unlisted Public Companies are required to submit Reconciliation Capital Audit Report to ROC. Form PAS-6 is not available on www.go Read More
Unlisted Public Companies are required to submit Reconciliation Capital Audit Report to ROC. Form PAS-6 is not available on www.gov.in.Please advise the procedure.

Company Secretary

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Views (3380)
Posted By: Ravinder 5 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 ?

Section 197- Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits.

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Views (3342)
Posted By: Vasant patel 9 year(s) ago

Answer

whether Form INC-8 should be on stamp paper duly notarised and if yes, please tell me the value of stamp paper required. Read More
whether Form INC-8 should be on stamp paper duly notarised and if yes, please tell me the value of stamp paper required.

Incorporation

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Views (3310)
Posted By: Dhavneesh gupta 10 year(s) ago

Answer

Can HUF become subscriber for the Incorporation of the Company?? if yes, than under which section it is prescribed??? Read More
Can HUF become subscriber for the Incorporation of the Company?? if yes, than under which section it is prescribed???

Incorporation

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Views (3305)
Posted By: Vasant patel 8 year(s) ago

Answer

While preparing the Director’s report lot of disclosure are required pursuant to section 134 of the Companies Act 2013 read with r Read More
While preparing the Director’s report lot of disclosure are required pursuant to section 134 of the Companies Act 2013 read with rules like composition of audit company. Mr company doesn’t have any audit committee, no I need to disclose the said fact or need to not make any disclosure?

AGM

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Views (3153)
Posted By: Manoj dhariwal 9 year(s) ago

Answer

Hi, Can a company delegate the power to allot shares & issue share certificate to any Board level committee under the Companies Read More
Hi, Can a company delegate the power to allot shares & issue share certificate to any Board level committee under the Companies Act, 2013. Section 179 and Rule 5 (1) of The Companies (Share Capital and Debentures ) Rules, 2014 give power to the Board for issuance of securities. Rule 5 (3) (a) however provides for the authority to committee as well for giving authorisation for signing of share certificate. View of experts are invited on the above CS Neeraj Aggarwal 9871293629

Fund raising

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Views (3122)
Posted By: Neeraj 9 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?

Section 139- Appointment of auditors.

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Views (3118)
Posted By: Vivek vijay 10 year(s) ago

Answer

Can the Statutory Auditor of the company sign the E-Form AOC-4????? Read More
Can the Statutory Auditor of the company sign the E-Form AOC-4?????

Chartered Accountant

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Views (3111)
Posted By: Palani kumar b 9 year(s) ago

Answer

Please suggest format of MOA & AOA for formation of One person company. What will be the suffix with name of the company - Private Read More
Please suggest format of MOA & AOA for formation of One person company. What will be the suffix with name of the company - Private Limited OR OPC.

One Person Company

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Views (3106)
Posted By: Sunil kumar agrawal 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

Section 185- Loan to directors, etc.

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Views (3091)
Posted By: Himanshu 8 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?

Section 139- Appointment of auditors.

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

Answer

In how many companies can a person be an Independent Director, say in Listed Companies and overall limit? Read More
In how many companies can a person be an Independent Director, say in Listed Companies and overall limit?

Director

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Views (3068)
Posted By: Shiv kumaran 10 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?

Section 184- Disclosure of interest by director.

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

Answer

Do form AOC-2 needs to be authenticated by the Board ? Read More
Do form AOC-2 needs to be authenticated by the Board ?

AGM

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Views (3049)
Posted By: Mohit kumar 9 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.

Section 56- Transfer and transmission of securities.

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Views (3027)
Posted By: Akansha 10 year(s) ago

Answer

The Companies (Acceptance of Deposits) Rules, 2014 contains definition of both deposit and depositor. While deposit covers many ca Read More
The Companies (Acceptance of Deposits) Rules, 2014 contains definition of both deposit and depositor. While deposit covers many categories of persons, the depositor on the other hand is defined as the member of the company who has made a deposit with the company in accordance with the provisions of sub-section (2) of section 73 of the Act. So while filing Form DPT-4, whom should we cover i e. only members of the company or all the categories as covered in deposits?

Compliances

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Views (3003)
Posted By: Krishna kumar gaggar 10 year(s) ago

Answer

A listed company doesn’t wish to disclose the details required under rule 5 of the Companies (Appointment and Remuneration of Mana Read More
A listed company doesn’t wish to disclose the details required under rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014. Is there any way available ?

AGM

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Views (2934)
Posted By: Ananya gupta 9 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?

Section 197- Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits.

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Views (2931)
Posted By: Vivek vijay 10 year(s) ago

Answer

Internal Auditor -As per section 138 of the Companies Act, 2013 such class of companies are required to appoint internal auditor Read More
Internal Auditor -As per section 138 of the Companies Act, 2013 such class of companies are required to appoint internal auditor who shall either be a chartered accountant (CA) or a cost accountant (CMA) or such other professional as may be decided by the board to conduct internal audit. As per rule 13 Explanation the internal auditor may or may not be an employee of the company. Please clarify following – 1) such other professional as may be decided by the board means an employee of the company M.com or LLB qualified may be the internal auditor. 2) An employee of the company CA Inter OR CMA Inter OR CS Inter may be the internal auditor. 3) An employee of the company CA, CMA or CS may be the internal auditor.

Auditors

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Views (2926)
Posted By: Sunil kumar agrawal 9 year(s) ago

Answer

Dear Friends, I am unable to find e-Forms MGT-7 & AOC-4 in MCA Site; are they available for download yet? P. Vithal Kumar, C Read More
Dear Friends, I am unable to find e-Forms MGT-7 & AOC-4 in MCA Site; are they available for download yet? P. Vithal Kumar, Company Secretary

Implementation of new law

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Views (2912)
Posted By: Vithal kumar pingali 9 year(s) ago

Answer

Under the list of shareholders the folio number of shareholders is mentioned wrong. How can we correct the same without resubmitti Read More
Under the list of shareholders the folio number of shareholders is mentioned wrong. How can we correct the same without resubmitting the form MGT-7

AGM

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Views (2909)
Posted By: Pranay patel 7 year(s) ago

Answer

In new Form ADT-1, point no.(f) asks for the period of accounts for which appointed. In small companies where rotation is not appl Read More
In new Form ADT-1, point no.(f) asks for the period of accounts for which appointed. In small companies where rotation is not applicable, we hv appointed auditors for five years.Now my query is -what should be entered in this column 01.04.2014-31.03.2015 or01.04.14 to 31.03.2019. The auditor is going to audit accounts of finacial year 14-15 only with this appointment for coming years ratification is needed as per law, but in resolution we r appointing them for five years.Further in next point g no of finacial year hv been asked for which the appointment is related but i think this column is meant for 139(2) companies only as it asks to fill point no.i before filling this point g.If smbody has filed the form pl. clarify

Auditors

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Views (2881)
Posted By: Anita 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?

Section 96- Annual general meeting.

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

Answer

In a private co, in Directors Report- MGT- 9 : Where shares held by directors would also include shares held by his HUF ? Read More
In a private co, in Directors Report- MGT- 9 : Where shares held by directors would also include shares held by his HUF ?

AGM

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Views (2830)
Posted By: Manouj agrawaal, fca, partner 9 year(s) ago

Answer

The present form ADT1 seeks info on period of accounts for which appointed and no. of financial years to which appointment relates Read More
The present form ADT1 seeks info on period of accounts for which appointed and no. of financial years to which appointment relates. If an auditor is reappointed for 5 years with effect from 1st April 2014, should the period of accounts be entered as 1.4.2014 to 31.3.2019 and the number of financial years as 5?.

Auditors

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Views (2811)
Posted By: Latha 10 year(s) ago

Answer

The question is regarding the Acceptance of Deposits under the Companies Act, 2013. Certain section of people are of view that as Read More
The question is regarding the Acceptance of Deposits under the Companies Act, 2013. Certain section of people are of view that as pet the Rule 2 (c) (xi) a company can accept deposits which are non interest bearing from anybody. Though i differ on this personally. Your expert guidance on the matter shall be highly appreciated.

Company Secretary

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Views (2787)
Posted By: Vishal arora 10 year(s) ago

Answer

In how many Board Committees can a Director be member/Chairman? Which are the applicable provisons in this regard Read More
In how many Board Committees can a Director be member/Chairman? Which are the applicable provisons in this regard

Director

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Views (2771)
Posted By: Shiv kumaran 10 year(s) ago

Answer

Are Provisions of Sec.134(5)(e) of the Companies Act, 2013 applicable to a Private Unlisted Company? Further whether Rule 8(5)(vii Read More
Are Provisions of Sec.134(5)(e) of the Companies Act, 2013 applicable to a Private Unlisted Company? Further whether Rule 8(5)(viii) of the Companies (Accounts) Rules,2014 are applicable to a Private Unlisted Company? Please clarify

Board of Directors

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Views (2767)
Posted By: V. maslekar 8 year(s) ago

Answer

Whether the disclosure of holding the designation of trustee in a trust or membership or designation in a society required to be d Read More
Whether the disclosure of holding the designation of trustee in a trust or membership or designation in a society required to be disclosed in MBP-1?

Disclosures

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Views (2757)
Posted By: Piyush 10 year(s) ago

Answer

COMPANIES ACT 1956 HAD PROVIDED A SCHEME OF EASY EXIT FOR CLOSURE OF A COMPANY. NOW, WHETHER THIS SCHEME CONTINUES IN THE NEW ACT Read More
COMPANIES ACT 1956 HAD PROVIDED A SCHEME OF EASY EXIT FOR CLOSURE OF A COMPANY. NOW, WHETHER THIS SCHEME CONTINUES IN THE NEW ACT OR SOME OTHER GUIDELINES/ PROVISIONS HAVE BEEN INTRODUCED FOR THE PURPOSE?

Winding-up

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Views (2738)
Posted By: Krishna kumar gaggar 10 year(s) ago

Answer

Whether filing of ADT-1 is mandatory for appointment of first Auditor at Board meeting ? And what about in case first auditor is Read More
Whether filing of ADT-1 is mandatory for appointment of first Auditor at Board meeting ? And what about in case first auditor is appointed by members in EGM ?

Auditors

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Views (2729)
Posted By: K. madhusudhan reddy 9 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?

Section 42 - Issue of shares on private placement basis.

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Views (2728)
Posted By: Kanika gupta 9 year(s) ago

Answer

For easy exit, a company has to submit inter-alia a statement of account duly certified by a CA in practice or auditor of the comp Read More
For easy exit, a company has to submit inter-alia a statement of account duly certified by a CA in practice or auditor of the company. Please tell how much old-dated statement of accounts can be submitted. Can Statement dt. 31.03.14 will do for closure in this month

Winding-up

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Views (2725)
Posted By: Krishna kumar gaggar 10 year(s) ago

Answer

AOC -1 : whether to be attached in financial statements of parent co or subsidiary company or in the directors Report of parent co Read More
AOC -1 : whether to be attached in financial statements of parent co or subsidiary company or in the directors Report of parent company ? Please advise.

AGM

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Views (2708)
Posted By: Manouj agrawaal, fca, partner 9 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.

Section 184- Disclosure of interest by director.

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Views (2697)
Posted By: Revati sathe 9 year(s) ago

Answer

A Closely held Private Limited Company wants to raise equity capital from another company (not a subsidiary/ holding/ associate co Read More
A Closely held Private Limited Company wants to raise equity capital from another company (not a subsidiary/ holding/ associate company) through private placement at Par i.e. Rs.10/- per share. The Book Value/Fair Market Value arrived at following the Valuation Procedure comes to Rs.35/- per share. Can the company issue shares at Rs.10/- per share. Is it permitted under the Companies Act, 2013?

Private placement

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Views (2683)
Posted By: Piyush 9 year(s) ago

Answer

Where can I find format of MGT - 7 (Annual Return) on CompaniesAct.in Read More
Where can I find format of MGT - 7 (Annual Return) on CompaniesAct.in

AGM

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Views (2675)
Posted By: Megha 9 year(s) ago

Answer

In which e-Form attachment Form ADT-1 for appointing First Auditor will be attached and filed with ROC? Will it be filed in GNL-2? Read More
In which e-Form attachment Form ADT-1 for appointing First Auditor will be attached and filed with ROC? Will it be filed in GNL-2?

Auditors

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Views (2664)
Posted By: Piyush 10 year(s) ago

Answer

Whether a Director of a Public Unlisted Company make a deposit of his own funds in the company and get interest on it? Such compan Read More
Whether a Director of a Public Unlisted Company make a deposit of his own funds in the company and get interest on it? Such company's limits on deposits are well within the limits as prescribed in the Companies(Acceptance of Deposits) Rules,2014. - CS.PR.RAMANATHAN

Fund raising

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Views (2661)
Posted By: Pr.ramanathan 10 year(s) ago

Answer

Do companyneed to file ADT-1 for ratification of Auditors appointment for 1 year? Read More
Do companyneed to file ADT-1 for ratification of Auditors appointment for 1 year?

Auditors

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Views (2650)
Posted By: Siva naga vijay babu guggilam 9 year(s) ago

Answer

Hi, A Pvt. Ltd co has authorized capital of 10 lacs and issued capital of 9.65 lacs. how by means of private placement it has made Read More
Hi, A Pvt. Ltd co has authorized capital of 10 lacs and issued capital of 9.65 lacs. how by means of private placement it has made an offer of 0.20 lacs. does the co need to file MGT - 14 before allotment of shares (in PAS- 3) by way of private placement. After allotment can the Pvt ltd Co take loan of 10 lacs from the new member if the co has taken a Term loan from a nationalized bank which has said that margin of 40% is to be brought in by promoters before disbursement of full loan amount.

Private placement

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Views (2645)
Posted By: P banerjee 9 year(s) ago

Answer

whether in case of small company AOC 4 is required to be certified by Professionals Read More
whether in case of small company AOC 4 is required to be certified by Professionals

Accounts

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Views (2630)
Posted By: Purushottam lal agrawal 9 year(s) ago

Answer

A ltd is sole beneficiary of x trust, which is holding 25% of shares of B ltd. Whether A ltd is required to consolidate its accoun Read More
A ltd is sole beneficiary of x trust, which is holding 25% of shares of B ltd. Whether A ltd is required to consolidate its accounts considering accounts of B ltd, being Associate?

Accounts

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Views (2619)
Posted By: Nitesh 9 year(s) ago

Answer

In a private co,, In Directors Report- Extract of MGT 9- shares held by friends, relatives and associates of promoters - are to be Read More
In a private co,, In Directors Report- Extract of MGT 9- shares held by friends, relatives and associates of promoters - are to be shown under the category " Promoters" or under " Public" ??

AGM

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Views (2612)
Posted By: Manouj agrawaal, fca, partner 9 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/-

Section 42 - Issue of shares on private placement basis.

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Views (2601)
Posted By: Vasant patel 10 year(s) ago

Answer

Companies with deposits from members under CA 1956 have to apply to ROC in DPT 4 disclosing the details of deposits outstanding as Read More
Companies with deposits from members under CA 1956 have to apply to ROC in DPT 4 disclosing the details of deposits outstanding as on 31st March 2014 seeking one years time to repay the deposits. Form DPT 4 stipulates auditors certificate to be attached. Clarification is sought as to the matter with respect to which the auditors certificate is to be obtained. Rule 20 of the relevant rules does not speak about the contents of the auditors certificate.

Disclosures

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Views (2564)
Posted By: Latha 10 year(s) ago

Answer

Can I send the financial statement vide normal post to my shareholders? Read More
Can I send the financial statement vide normal post to my shareholders?

AGM

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Views (2563)
Posted By: Nalin jain 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?

Section 14- Alteration of articles.

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

Answer

A Company for which both AOC-4 & AOC-4 CFS were required to be filed. Company has mistakenly clicked on "NO" for a checkbox in For Read More
A Company for which both AOC-4 & AOC-4 CFS were required to be filed. Company has mistakenly clicked on "NO" for a checkbox in Form AOC-4 "Whether Consolidated Financial Statement is required to be filed or not?" Now Form AOC-4_CFS is showing a prescrutiny error "Form AOC-4 is not required to be filed for this Company". Is there any way out for this!!!

Accounts

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Views (2528)
Posted By: Ishu 9 year(s) ago

Answer

For appointment of Independent Directors and Non executive woman director is form MR-1 required to be filed as within the form the Read More
For appointment of Independent Directors and Non executive woman director is form MR-1 required to be filed as within the form there is no such option available. And if yes then under what head i.e. WTD?

Independent Director

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Views (2524)
Posted By: Rajesh agrawal 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?

Section 117- Resolutions and agreements to be filed.

Reply
Views (2517)
Posted By: Piyush 10 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 ?

Section 62- Further issue of share capital.

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Views (2512)
Posted By: Arun rajabhau joshi 8 year(s) ago

Answer

Regarding appointment of Independent Director under section 149 (4) of Co. Act 2013 read with Rules 4 of The Companies (Appointme Read More
Regarding appointment of Independent Director under section 149 (4) of Co. Act 2013 read with Rules 4 of The Companies (Appointment & Qualification of Directors) Rules, 2014 provides that the following class or classes of companies shall have latest two Directors as independent Directors on the Board of Directors of the Company (iii) a public company which have, in aggregate of, outstanding Loans, debentures and deposits, exceeding fifty crores rupees In this regard please clarify the following : 01. What is meaning of “Outstanding loans” i.e. both short term and long term loans both or Else ? 02. For the purpose of this rules it is stated that, the paid up share capital or turnover or outstanding loans, debentures and deposits, as the case may be as existing on the last date of latest audited financial statements shall be taken into account then : Please clarify which date i. e. date of balance-sheet as on 31st March or date of signing of Balance-sheet of that year ?

Independent Director

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Views (2503)
Posted By: Vasant patel 10 year(s) ago

Answer

Under section 383A of Companies Act 1956, a Company with less than 5 crores Capital was required to obtain compliance certificate Read More
Under section 383A of Companies Act 1956, a Company with less than 5 crores Capital was required to obtain compliance certificate from CS in practice and file in form 66 with ROC. what is the situation as per new act.

Company Secretary

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Views (2497)
Posted By: Naresh 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 ?

Section 197- Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits.

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Views (2476)
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 ?

Section 197- Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits.

Reply
Views (2463)
Posted By: Vasant patel 9 year(s) ago

Answer

In June, 2014 MCA has come out with a draft notification exempting certain provisions to private companies. Any information on the Read More
In June, 2014 MCA has come out with a draft notification exempting certain provisions to private companies. Any information on the status of the notification in official gazette?

Implementation of new law

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Views (2459)
Posted By: Sandhya 10 year(s) ago

Answer

Can Form No.ADT-1 under Companies (Audit & Auditors) Rules, 2014, be signed by Company Secretary of the Company along with his PAN Read More
Can Form No.ADT-1 under Companies (Audit & Auditors) Rules, 2014, be signed by Company Secretary of the Company along with his PAN & Institute Membership Number?

Auditors

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Views (2422)
Posted By: V. maslekar 10 year(s) ago

Answer

Dear Sir! does retirement of Directors by rotation applicable to govt. companies too? Read More
Dear Sir! does retirement of Directors by rotation applicable to govt. companies too?

Director

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Views (2418)
Posted By: Vishal arora 10 year(s) ago

Answer

Dear Experts, Kindly tell me what E Forms are required to be filed for appointment of Independent Director. Thanks advance. Read More
Dear Experts, Kindly tell me what E Forms are required to be filed for appointment of Independent Director. Thanks advance.

Independent Director

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Views (2416)
Posted By: Pooja garg 9 year(s) ago

Answer

WHICH FORM IS FOR CONDONATION OF DELAY BEYOND 300 DAYS FOR REGISTRATION OF CHARGE UNDER COMPANIES ACT 2013 Read More
WHICH FORM IS FOR CONDONATION OF DELAY BEYOND 300 DAYS FOR REGISTRATION OF CHARGE UNDER COMPANIES ACT 2013

Charges

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Views (2415)
Posted By: Reena 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.

Section 186- Loan and investment by company.

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Views (2393)
Posted By: Amit nowlakha 10 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.

Section 42 - Issue of shares on private placement basis.

Reply
Views (2393)
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

Section 172- Penalty.

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Views (2385)
Posted By: Himanshu 9 year(s) ago

Answer

Two private Companies 'A Pvt Ltd' &' B Pvt Ltd'. Both companies having two Directors each. Directors of both the companies are sa Read More
Two private Companies 'A Pvt Ltd' &' B Pvt Ltd'. Both companies having two Directors each. Directors of both the companies are same two persons. 'A Pvt Ltd' holds 50% equity in 'B Pvt Ltd'. Rest 50% held by two Directors. 'B Pvt Ltd' holds 30% equity in 'A Pvt Ltd' . Rest 70% held by two Directors. Q: Whether Holding/subsidiary relationship is established? If yes, how? Which is holding company?

Definitions

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Views (2385)
Posted By: Atul kulkarni 9 year(s) ago

Answer

Auditor appointed in terms of Sec.139 for One term of five consecutive years - can he be changed by Shareholders at next AGM it s Read More
Auditor appointed in terms of Sec.139 for One term of five consecutive years - can he be changed by Shareholders at next AGM it self?

Auditors

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Views (2384)
Posted By: V. maslekar 10 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 ?

Section 62- Further issue of share capital.

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

Answer

Can someone please explain the concept of a small company WITH ILLUSTRATIONS relating to turnover and capital. Read More
Can someone please explain the concept of a small company WITH ILLUSTRATIONS relating to turnover and capital.

Small Company

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Views (2371)
Posted By: Revati galgali 10 year(s) ago

Answer

Under CA 1956, we were obtaining disclosures under section 299 and 274(1)(g) at the last day of each financial year. Now as per CA Read More
Under CA 1956, we were obtaining disclosures under section 299 and 274(1)(g) at the last day of each financial year. Now as per CA 2013, we have to obtain the same under section 184 and the requisite form has also been prescribed which is Form MBP 1. What about the other disclosure which was previously being obtained under the provisions of section 274(1)(g) of CA 2013? Please revert.

Director

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Views (2361)
Posted By: Anil 10 year(s) ago

Answer

Activities Covered under CSR inadvertently shown under the head Donation. Whether can be claimed as a CSR Expenditure ? Read More
Activities Covered under CSR inadvertently shown under the head Donation. Whether can be claimed as a CSR Expenditure ?

CSR

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Views (2337)
Posted By: Arun rajabhau joshi 8 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.

Section 129- Financial statement.

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

Answer

An Indian company forms a JV in foreign country with 40% participation. Is it required to be consolidated BS? Read More
An Indian company forms a JV in foreign country with 40% participation. Is it required to be consolidated BS?

Accounts

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Views (2332)
Posted By: Atul kulkarni 9 year(s) ago

Answer

In a private company, when AGM can be held with shorter notice if 95% of the members agree for it, can the audited accounts also b Read More
In a private company, when AGM can be held with shorter notice if 95% of the members agree for it, can the audited accounts also be circulated in shorter period than 21 days?

Shareholders Meeting

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Views (2331)
Posted By: V. subramanian 10 year(s) ago

Answer

DIN of existing directors or proposed one who have their name or father's name as single name can't able to be entered in any form Read More
DIN of existing directors or proposed one who have their name or father's name as single name can't able to be entered in any form like incorporation forms. The remedy is only to update the PAN and apply for DIR 6. But in instruction kit of DIN or DIR 6 there is a mention that the name would be accepted as single name if it appears as such on PAN but practically it is not so. can anybody help to overcome this.

Incorporation

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Views (2328)
Posted By: Akila 10 year(s) ago

Answer

Has the new Companies Act /Rules prescribed any format of Appointment Letter for Independent Directors ? Read More
Has the new Companies Act /Rules prescribed any format of Appointment Letter for Independent Directors ?

Independent Director

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Views (2327)
Posted By: Meenakshi sharma 10 year(s) ago

Answer

Private Limited Company wants to change object and name of the company, is it necessary to convene two EGMs. First to change objec Read More
Private Limited Company wants to change object and name of the company, is it necessary to convene two EGMs. First to change object and then to change name. Or one EGM will be sufficient to change object clause and Name.

Small Company

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Views (2326)
Posted By: Z khan 10 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.

Section 185- Loan to directors, etc.

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

Answer

1. A COMPANY RECD SHARE APPLICATION MONEY BEFORE 31.03.2014 AND WANT TO ALLOT IT ON 26.05.2014 WHAT ARE THE FORMALITIES FOR ROC CO Read More
1. A COMPANY RECD SHARE APPLICATION MONEY BEFORE 31.03.2014 AND WANT TO ALLOT IT ON 26.05.2014 WHAT ARE THE FORMALITIES FOR ROC COMPLIANCE 2. AND IF IT IS BEFORE 2014 FOR EXAMPLE SHARE APPLICATION MONEY RECD AND ALLOTMENT IN MARCH 2014

Private placement

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Views (2307)
Posted By: Reena 10 year(s) ago

Answer

Should we file INC 10 while registering a wholly owned subsidiary for the Parent Company, If so, what are the contents? Read More
Should we file INC 10 while registering a wholly owned subsidiary for the Parent Company, If so, what are the contents?

Incorporation

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Views (2304)
Posted By: Suresh k s 10 year(s) ago

Answer

What are entrenchment provisions that can be mentioned in the AOA and to what extent can the Articles of Association be altered. Read More
What are entrenchment provisions that can be mentioned in the AOA and to what extent can the Articles of Association be altered.

Implementation of new law

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Views (2300)
Posted By: Vishal arora 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?

Section 73- Prohibition on acceptance of deposits from public.

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Views (2291)
Posted By: Amarnath jha 9 year(s) ago

Answer

THis is in connection with issue and allotment of shares to a foreign parent co under new Act. FEMA requires shares to be issued a Read More
THis is in connection with issue and allotment of shares to a foreign parent co under new Act. FEMA requires shares to be issued at fair value certified by auditors. Also, Section 62 of the new Act requires that issue of shares should be at value determined by the registered valuer. In one case, the value of share is around Rs. 1.2 whereas the face value is Rs. 10. Section 53 of the Act prohibits issue of shares at discount. We are confused. If the issue is in accordance with Section 62, i e at Rs. 1.2, there will be a violation of section 53. Is there any conceptual misunderstanding By Hina Sadrani, Self Employed

Private placement

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Views (2288)
Posted By: Vivek vijay 11 year(s) ago

Answer

whether Form ADT-1 to be filed with ROC for appointment of Auditor in Casual Vacancy or not? Read More
whether Form ADT-1 to be filed with ROC for appointment of Auditor in Casual Vacancy or not?

Auditors

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Views (2285)
Posted By: Dhawal kant singh 9 year(s) ago

Answer

If appointment of auditors is made for 5 years starting from F Y 2013-14 and reported to ROC via form 23 B, then is it necessary t Read More
If appointment of auditors is made for 5 years starting from F Y 2013-14 and reported to ROC via form 23 B, then is it necessary to submit form ADT 1.after every AGM.

AGM

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Views (2279)
Posted By: Ca bhagyashree sathe 9 year(s) ago

Answer

As per CSR law & rule CSR committee should have three Director one of them should be independent director ( if applicable to the c Read More
As per CSR law & rule CSR committee should have three Director one of them should be independent director ( if applicable to the company concerned ) . Can Non Director be member of CSR committee ?

CSR

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Views (2276)
Posted By: Pradeep panda 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?

Section 96- Annual general meeting.

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Views (2271)
Posted By: Ram 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?

Section 117- Resolutions and agreements to be filed.

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Views (2266)
Posted By: Piyush 10 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.

Section 42 - Issue of shares on private placement basis.

Reply
Views (2263)
Posted By: Himanshu 9 year(s) ago

Answer

can a private company give the guarantee to a partnership firm in which company is a partner but directors are not partners and t Read More
can a private company give the guarantee to a partnership firm in which company is a partner but directors are not partners and their relatives are partner .

Implementation of new law

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Views (2255)
Posted By: Rajesh chopra 10 year(s) ago

Answer

Whether for incorporating a new company , do I have to prepare articles and memorandum as per the Companies Act 2013 Read More
Whether for incorporating a new company , do I have to prepare articles and memorandum as per the Companies Act 2013

Incorporation

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Views (2254)
Posted By: Anjali 11 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

Section 188- Related party transactions.

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

Answer

I intend to send the notice of the annual general meeting through email. Do I need to send the physical copy to the shareholders Read More
I intend to send the notice of the annual general meeting through email. Do I need to send the physical copy to the shareholders who haven’t provided their email id?

AGM

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Views (2253)
Posted By: Animesh sharma 9 year(s) ago

Answer

Appointment of Additional Director is till the date of the Annual General Meeting. His appointment in AGM is subject to the propos Read More
Appointment of Additional Director is till the date of the Annual General Meeting. His appointment in AGM is subject to the proposal by a shareholder to appoint him as a Director. The proposal has to be accompanied with a sum of Rs. 1.00 Lac. Are there any exemptions available to any Company?

Director

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Views (2252)
Posted By: Vishal arora 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?

Section 117- Resolutions and agreements to be filed.

Reply
Views (2251)
Posted By: Piyush 10 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?

Section 135- Corporate Social Responsibility.

Reply
Views (2243)
Posted By: Prerna kapoor 8 year(s) ago

Answer

Is it necessary for every company to re-write the registers since the date of incorporation in the new format as per the Companies Read More
Is it necessary for every company to re-write the registers since the date of incorporation in the new format as per the Companies Act 2013.

Implementation of new law

Reply
Views (2215)
Posted By: Arun kumar 10 year(s) ago

Answer

Kindly provide me with a format of special resolution required for filing MGT 14 after AGM. Read More
Kindly provide me with a format of special resolution required for filing MGT 14 after AGM.

Shareholders Meeting

Reply
Views (2215)
Posted By: Rajesh agrawal 10 year(s) ago

Answer

Whether in a Private Company consolidation financial statement is mandatory if having wholly owned subsidiary company or associate Read More
Whether in a Private Company consolidation financial statement is mandatory if having wholly owned subsidiary company or associate Company ? and Whether filing is mandatory to ROC ?

Compliances

Reply
Views (2215)
Posted By: Arun rajabhau joshi 8 year(s) ago

Answer

Whether to find out applicability of CSR provisions as per Sec 135 of the Companies Act 2013, the threshold limits should be met d Read More
Whether to find out applicability of CSR provisions as per Sec 135 of the Companies Act 2013, the threshold limits should be met during the current financial year 2014-2015 or even if any of the threshold limit is met during any of the three preceding financial years CSR will be applicable ? Pl. Clarify?

CSR

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Views (2210)
Posted By: Mukund govindharajan 10 year(s) ago

Answer

Our PBT for the year 2014-15 is Rs.4.76 Cr. approx. PBT for last three years is detailed below :- 2011-12 Rs.5,02,04,382 201 Read More
Our PBT for the year 2014-15 is Rs.4.76 Cr. approx. PBT for last three years is detailed below :- 2011-12 Rs.5,02,04,382 2012-13 Rs.5,59,04,263 2013-14 Rs.4,31,45,900 You are requested to please advise whether or not CSR is applicable to us.

CSR

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Views (2209)
Posted By: Pooja hiranandani 9 year(s) ago

Answer

In a Pvt Co., where rotation of auditors is not mandatory, the auditors were reappointed in AGM in September, 2014 for 1 year inst Read More
In a Pvt Co., where rotation of auditors is not mandatory, the auditors were reappointed in AGM in September, 2014 for 1 year instead of 5 years. Can the auditors now be reappointed for 4 years in the AGM in sep, 2015 or is there any other recourse ?

Auditors

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Views (2198)
Posted By: Manouj agrawaal, fca, partner 9 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 ?

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

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

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

Section 182- Prohibitions and restrictions regarding political contributions.

Reply
Views (2184)
Posted By: Aarti rathod 7 year(s) ago

Answer

Hello, Can some one let me know the activities / resolutions passed in the members meeting and board of directors meeting which re Read More
Hello, Can some one let me know the activities / resolutions passed in the members meeting and board of directors meeting which requires to be filed with ROC in Form MGT-14.

Board Meeting

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Views (2183)
Posted By: Ujwal accounts 10 year(s) ago

Answer

Please clarify the activities eligible under the final Schedule VII of the CSR for which Income tax adjustment would be applicable Read More
Please clarify the activities eligible under the final Schedule VII of the CSR for which Income tax adjustment would be applicable.Thank you

CSR

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Views (2182)
Posted By: V.b. mahajan 10 year(s) ago

Answer

Whether even private companies meeting the eligbility criteria prescribed in section 135 are required to comply with CSR requireme Read More
Whether even private companies meeting the eligbility criteria prescribed in section 135 are required to comply with CSR requirement ? If yes, then they are also required to appoint Independent Directors?

CSR

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Views (2177)
Posted By: Anjali 11 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?

Section 13- Alteration of memorandum.

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Posted By: Neha mittal 10 year(s) ago

Answer

Within how many days shall the subscription amount be received by the Company post incorporation Read More
Within how many days shall the subscription amount be received by the Company post incorporation

Incorporation

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Views (2171)
Posted By: Govind 9 year(s) ago

Answer

What documents we need to attach with Form MGT 14 for postal ballot results. Is it just Scrutinizers Report and CTC of Special Res Read More
What documents we need to attach with Form MGT 14 for postal ballot results. Is it just Scrutinizers Report and CTC of Special Resolution or any other document is required to be attached with Form MGT 14?

Implementation of new law

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Views (2170)
Posted By: Vaibhav shah 9 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

Section 180- Restrictions on powers of Board.

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Views (2158)
Posted By: Revati sathe 9 year(s) ago

Answer

What's the form for requesting RoC w.r.t. MCA ceneral Circular No.03/201S dated 3rd March, 2015 Read More
What's the form for requesting RoC w.r.t. MCA ceneral Circular No.03/201S dated 3rd March, 2015

Director

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Views (2153)
Posted By: Sandhya 9 year(s) ago

Answer

Our Company is a private Company, subsidiary of Public Company having paid up share capital of more than 10 crore. Kindly let me k Read More
Our Company is a private Company, subsidiary of Public Company having paid up share capital of more than 10 crore. Kindly let me know is appointment of Independent Director is applicable on it.

Independent Director

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Views (2136)
Posted By: Haryana 9 year(s) ago

Answer

WHETHER CERTIFYING THE DPT 4 FORM ITSELF BY THE CA IS SUFFICIENT COMPLIANCE OF THE RELEVANT DEPOSIT RULES OR A SEPARATE CA CERTIFI Read More
WHETHER CERTIFYING THE DPT 4 FORM ITSELF BY THE CA IS SUFFICIENT COMPLIANCE OF THE RELEVANT DEPOSIT RULES OR A SEPARATE CA CERTIFICATE HAS TO BE ANNEXED? IN CASE OF INDEPENDENT CERTIFICATE, WHAT SHOULD BE THE CONTENT?

Compliances

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Views (2132)
Posted By: Krishna kumar gaggar 10 year(s) ago

Answer

In continuation on my query on appointment of auditors ok we hv to appoint the auditorss for a term of five years starting this yr Read More
In continuation on my query on appointment of auditors ok we hv to appoint the auditorss for a term of five years starting this yr only in case of non prescribed companies and file ADT-1. But the form ADT-1 is not available for e filing we hv to attach it in GNL-2, Right? Further in ADT-1 there is mention of the period for which appointment is being made and no attachment has been prescribed. Is it not necessary to attach any letter given to auditors or intimation reced from auditors with the form? And if we file ADT-i every year which period we will specify the appointment is for--one financial year or the the remaining 4,3 or 2 financial years?

Auditors

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Posted By: Anita 10 year(s) ago

Answer

WHAT WILL BE THE AUDITOR APPOINTMENT IN SMALL PVT COMPANIES WILL BE THE APPOINTMENT WILL BE FOR 5 YEARS AND GNL-2 IS REQUIRED TO Read More
WHAT WILL BE THE AUDITOR APPOINTMENT IN SMALL PVT COMPANIES WILL BE THE APPOINTMENT WILL BE FOR 5 YEARS AND GNL-2 IS REQUIRED TO BE FILED ONCE IN 5 YEARS

Auditors

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Views (2124)
Posted By: Reena 10 year(s) ago

Answer

Is there any difference in the Schedule iii of companies Act 2013 and Revised schedule vi of the Companies Act, 1956. If yes. What Read More
Is there any difference in the Schedule iii of companies Act 2013 and Revised schedule vi of the Companies Act, 1956. If yes. What are those changes By Vishwas Surana , Intensive Fiscal Services Private Limited

Accounts

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Views (2121)
Posted By: Vivek vijay 11 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 ?

Section 62- Further issue of share capital.

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Views (2116)
Posted By: Vasant patel 9 year(s) ago

Answer

Does income tax representation services can be rendered by an auditor under section 144 ? Are they covered in management services Read More
Does income tax representation services can be rendered by an auditor under section 144 ? Are they covered in management services ?

Auditors

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Views (2113)
Posted By: Manouj agrawaal, fca, partner 9 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 ?

Section 168- Resignation of director.

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

Answer

What should be the agenda for the separate meeting of independent directors as mentioned in Schedule IV - Code for independent dir Read More
What should be the agenda for the separate meeting of independent directors as mentioned in Schedule IV - Code for independent directors - Clause VII?

Independent Director

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Views (2107)
Posted By: Joy kumar jain 9 year(s) ago

Answer

Shifting of Registered Office: Hi Everyone, can anybody provide me with the procedure for shifting of registered office from on Read More
Shifting of Registered Office: Hi Everyone, can anybody provide me with the procedure for shifting of registered office from one State to another. If anybody has the event chart for the same.

Incorporation

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Views (2104)
Posted By: Haryana 9 year(s) ago

Answer

Do we need to file MGT-14for the board meeting in which we are allotting the shares ?..although we are filing the MGT-14 for EGM i Read More
Do we need to file MGT-14for the board meeting in which we are allotting the shares ?..although we are filing the MGT-14 for EGM in which we are approving the draft offer letter...

Private placement

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Views (2101)
Posted By: Alok 9 year(s) ago

Answer

If a Private Company Have Interest Free Deposit From its Share Holder can its come into the Defination of Deposit. Read More
If a Private Company Have Interest Free Deposit From its Share Holder can its come into the Defination of Deposit.

Fund raising

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Views (2100)
Posted By: Rajesh chopra 10 year(s) ago

Answer

Is it required to take consent of creditors for conversion of public company to private company, if so under which provision? Read More
Is it required to take consent of creditors for conversion of public company to private company, if so under which provision?

Incorporation

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Views (2097)
Posted By: Jitendra 10 year(s) ago

Answer

What is the procedure to appoint an Independent Director? We understand Recommendation by BOD and approval by Shareholders is requ Read More
What is the procedure to appoint an Independent Director? We understand Recommendation by BOD and approval by Shareholders is required. Is it possible to appoint Ind. Director in Board meeting December 2014 and get approval of Shareholders in next AGM ie September, 2015. Or Is it required approval of Shareholders in EGM upto March 2015. Please clarify.

Independent Director

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Views (2095)
Posted By: Sunil kumar agrawal 10 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 ?

Section 73- Prohibition on acceptance of deposits from public.

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

Answer

In case of private placement made to convert unsecured loan from a Company into shareholders by issue of equity shares at book val Read More
In case of private placement made to convert unsecured loan from a Company into shareholders by issue of equity shares at book value as per the valuation report from a practicing CA for more than 10 years, is it a sufficient compliance in regard to valuation of shares

Private placement

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Views (2091)
Posted By: Ramesh 10 year(s) ago

Answer

Whether the sweat equity shares can be issued to the non-executive directors? if so what are the tax implications..kindly clarify Read More
Whether the sweat equity shares can be issued to the non-executive directors? if so what are the tax implications..kindly clarify ...

Private placement

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Views (2084)
Posted By: Lakshminarayana n 9 year(s) ago

Answer

I had made an application for conversion of Pvt. Co. into LLP in the month of March 2014, by submitting the Audited Accounts as of Read More
I had made an application for conversion of Pvt. Co. into LLP in the month of March 2014, by submitting the Audited Accounts as of March 31, 2014, Due to transformation in MCA, the process got delyed and the approval of conversion was received in July 2014, Query is : As the Status is now LLP, MCA is not permitting me to file Annual Accounts of 31/03/2014 when it was a Private Company. Please Guide

Accounts

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Views (2083)
Posted By: Nilay shah 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.

Section 139- Appointment of auditors.

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

Answer

WHAT WILL BE LAST DATE OF HOLDING AGM OF A COMPANY INCORPORATED ON 14TH OCTOBER 2014? Read More
WHAT WILL BE LAST DATE OF HOLDING AGM OF A COMPANY INCORPORATED ON 14TH OCTOBER 2014?

AGM

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Views (2080)
Posted By: Nitin 8 year(s) ago

Answer

Every director shall inform all the companies in which he/ she is a director, of the DIN allotted to him/her in Form DIR-3B within Read More
Every director shall inform all the companies in which he/ she is a director, of the DIN allotted to him/her in Form DIR-3B within 30 days of the receipt of intimation of approval of DIN. Where is the Format of DIN -3B?

Director

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Views (2076)
Posted By: V. maslekar 10 year(s) ago

Answer

From which date, the tenure of the Independent Director start ie from the date of Board Resolution or the shareholders Resolution Read More
From which date, the tenure of the Independent Director start ie from the date of Board Resolution or the shareholders Resolution ?

Independent Director

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Views (2076)
Posted By: Ranjal laxmana shenoy 9 year(s) ago

Answer

We have initiated the procedure for Incorporation of a company under Chapter XXI for Conversion (i.e. Vesting of Interest) of a Co Read More
We have initiated the procedure for Incorporation of a company under Chapter XXI for Conversion (i.e. Vesting of Interest) of a Co operative Society into a limited Company. After filling INC-1, MCA clarified that Since the Rules are not clear in this context u/s 366 Part-1 of Chapter XXI of Companies Act,2013.The proposed name is not allowed, till further clarification in this matter. Further we revived guidance from MCA to convert the Co operative Society into LLP and then Convert the LLP into a Limited Company. So please guide us in this regard and kindly explain the procedure.

Incorporation

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Views (2068)
Posted By: Kedar 9 year(s) ago

Answer

Are Directors and Company Secretary required to be reappointed as KMP through board resolution ? Read More
Are Directors and Company Secretary required to be reappointed as KMP through board resolution ?

KMP

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Views (2066)
Posted By: Shairill a. dubey 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.

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

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Views (2065)
Posted By: Himanshu 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?

Section 186- Loan and investment by company.

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Views (2062)
Posted By: Aakanksha 9 year(s) ago

Answer

If we apply under the Fast track scheme to strike off the name of a company then is it necessary to file all the pending balance s Read More
If we apply under the Fast track scheme to strike off the name of a company then is it necessary to file all the pending balance sheet & annual return in Form 23AC-ACA & 20B or we can just file the FTE Form with the latest nil balance sheet with

Accounts

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Views (2061)
Posted By: Anita 10 year(s) ago

Answer

Payment of Managerial Remuneration A Unlisted Public Limited Company having no profit or inadequate profit want to appoint/re-ap Read More
Payment of Managerial Remuneration A Unlisted Public Limited Company having no profit or inadequate profit want to appoint/re-appoint managing Director/WD and proposes to pay or revise remuneration which is less than Slab mentioned in Part (a) of section II of schedule V of companies Act, 2013. For Example (i) Effective capital is Negative or Less than 5 Crores and Limit under this slab is Rs. 30 Laks P.A.- In this case company propose to pay or revise remuneration of Rs. 25 Lacs P.A., So company need to pass ordinary Resolution. Please clearly that in this case is it compulsory for the company to approve the remuneration by Nomination and Remuneration committee ?

Remuneration to KMP

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Views (2060)
Posted By: Vasant patel 9 year(s) ago

Answer

Dear Sir, Rule 14(1)(b) of Companies (prospectus of securities) Rules, 2014 with regard to private placement states that pvt. plac Read More
Dear Sir, Rule 14(1)(b) of Companies (prospectus of securities) Rules, 2014 with regard to private placement states that pvt. placement offer letter accompanied by application form shall be sent " EITHER IN WRITING OR IN E-MODE". What does the word "IN WRITING" state? , does it include delivery of offer letter"BY HAND"?

Private placement

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Views (2056)
Posted By: Vishal arora 10 year(s) ago

Answer

A Company is required to spend say Rs.10 on CSR in the FY 2014-15. The amount of Rs.10 is based on 2 of average PBT of the FY 2011 Read More
A Company is required to spend say Rs.10 on CSR in the FY 2014-15. The amount of Rs.10 is based on 2 of average PBT of the FY 2011:12, 2012:13 and 2013:14. In the FY 2014:15, the Company actually spent Rs.5 on the CSR projects identified by it and Rs.3 will be spent on the same projects in the next FY, leaving Rs.2 not to be spent by it. The Board also gives reasons for not spending Rs.2 to its shareholders. With this background, my Question is –How Companies will record the amount under CSR Pool, as it is not in the nature of “Reserve”, which can be brought back to Profit. In the given case, where the amount i.e. Rs.2 not spent will go. As per the Draft CSR Rules, surplus arising out of the CSR activity will not be part of business profits of the company. | By. DS Mahajan

CSR

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Views (2031)
Posted By: Vivek vijay 11 year(s) ago

Answer

Under private placement route, can shares be issued at a price different- high or low, than valuation report Read More
Under private placement route, can shares be issued at a price different- high or low, than valuation report

Private placement

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Views (2027)
Posted By: Kejal shah 10 year(s) ago

Answer

Whether CSR can be given to a trust with eligible objects by way of corpus fund? Read More
Whether CSR can be given to a trust with eligible objects by way of corpus fund?

CSR

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Views (2027)
Posted By: Pawan 9 year(s) ago

Answer

One company has pass special resolution u/s. 42 read with 62 with relevant rules under provisions of Co. Act, 2013 for offer, issu Read More
One company has pass special resolution u/s. 42 read with 62 with relevant rules under provisions of Co. Act, 2013 for offer, issue of and allotment of Shares of Rs. 5 Crores to 120 persons in one or more tranches and as per the provisions of act and rules the validity of resolution is 12 months from the date of passing of resolution. The Board of Directors have approved Letter of offer in Form PAS4 and send the same first to 42 persons out of 120 persons ? We want following clarifications : 01. What is validity of Private Placement offer Letter in Form PAS4. ? 30 days or 12 months. 02. The company send offer letter to first 42 persons and made allotment and then we want to send offer letter to another 45 person out of 120 person, should the company need to prepare and approved offer letter in Form PAS -4 again and again until the completion of allotment for the total shares for which special resolution passed ? 03. Whether company need to maintain record in Form PAS 5 again and again when the company send Offer to total 120 persons until completion of allotment of total shares under special resolution passed ?

Private placement

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Views (2025)
Posted By: Vasant patel 10 year(s) ago

Answer

Can we use single INC-10 being verification of signature of director/subscriber for incorportating more then one company Read More
Can we use single INC-10 being verification of signature of director/subscriber for incorportating more then one company

Incorporation

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Views (2023)
Posted By: Prakash khedekar 9 year(s) ago

Answer

There are some loans which were given by the Company to its directors in the year 2010. What will be the treatment of these loans Read More
There are some loans which were given by the Company to its directors in the year 2010. What will be the treatment of these loans after coming into force of Section 185.

Director

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Views (2019)
Posted By: Hardam singh 9 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.

Section 188- Related party transactions.

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Views (2017)
Posted By: Kishor 10 year(s) ago

Answer

Does every year company require to file ADT1? Read More
Does every year company require to file ADT1?

Auditors

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Views (2014)
Posted By: Nandini 8 year(s) ago

Answer

An unlised public limited company wants to raise funds by issue of non-convertible redeemable preference shares at a premium. Whe Read More
An unlised public limited company wants to raise funds by issue of non-convertible redeemable preference shares at a premium. Whether redeemable preference shares can be issued at a premium under the companies Act, 2013 ?

Private placement

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Views (2011)
Posted By: Comsec 10 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?

Section 179- Powers of Board.

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

Answer

Under New Act, within how many days the Company is required to issue share certificates for allotment done. Read More
Under New Act, within how many days the Company is required to issue share certificates for allotment done.

Private placement

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Views (2002)
Posted By: Prerna 9 year(s) ago

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?

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

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Views (2002)
Posted By: Brajesh r. agrawal 10 year(s) ago

Answer

For 31-March-2014, would director continue to disclose their interest in Form 24AA. Also declaration under section 274(1)(g) from Read More
For 31-March-2014, would director continue to disclose their interest in Form 24AA. Also declaration under section 274(1)(g) from directors would continue.

Director

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Views (1998)
Posted By: Ashwani rustagi 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

Section 197- Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits.

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Views (1988)
Posted By: Mookambika r 10 year(s) ago

Answer

We have incorporated producer Company, we need to know the minimum paid up capital for incorporation of Producer Company. Kindly p Read More
We have incorporated producer Company, we need to know the minimum paid up capital for incorporation of Producer Company. Kindly provide the relevant Circular for the same.

Incorporation

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Views (1988)
Posted By: Vinay b l 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

Section 197- Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits.

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Views (1987)
Posted By: Pradeep chugh 9 year(s) ago

Answer

Dear All, Our Company's paid up capital is 2,50,000 and Turnover is 1,10,000. Though it is a small company, the Form MGT-7 is a Read More
Dear All, Our Company's paid up capital is 2,50,000 and Turnover is 1,10,000. Though it is a small company, the Form MGT-7 is asking for Certification. Please suggest us in this regard.

Compliances

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Views (1984)
Posted By: Sreenivas babu 9 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?

Section 186- Loan and investment by company.

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

Answer

One Existing Private Limited Company under Companies Act, 1956 maintain all statutory registers as per the provisions of The Compa Read More
One Existing Private Limited Company under Companies Act, 1956 maintain all statutory registers as per the provisions of The Companies Act, 1956. Which statutory registers are need to change as per The Companies Act, 2013 from existing registers maintained under The Companies Act, 1956. Please clarify.

Implementation of new law

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Views (1970)
Posted By: Sunil kumar agrawal 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?.

Section 42 - Issue of shares on private placement basis.

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Views (1965)
Posted By: Nilesh patel 9 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?

Section 139- Appointment of auditors.

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

Answer

Section 25 corresponds to section 8 of the companies Act, 2013 which is not yet notified. In this regard section 263A of old compa Read More
Section 25 corresponds to section 8 of the companies Act, 2013 which is not yet notified. In this regard section 263A of old company act explicitly exempts section 177, 255, 256 and 263. What is the exact provision corresponding to section 263A and also in case such provision doesnt exist will it mean that companies with charitable object will not be protected under the new act. (by Gautam Sood, Lawyer)

Implementation of new law

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Views (1960)
Posted By: Vivek vijay 11 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 ?

Section 73- Prohibition on acceptance of deposits from public.

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

Answer

Whether physical copy of application/petition duly notorised, as done earlier, is still required to be attached with form INC 23 f Read More
Whether physical copy of application/petition duly notorised, as done earlier, is still required to be attached with form INC 23 for change of registered office from one state to another state.

Implementation of new law

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Views (1958)
Posted By: Ravinder 7 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?

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

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

Answer

If the appointment of an existing ID is not renewed by the EGM before 31st march 2015 whether he is ceased from post of Director Read More
If the appointment of an existing ID is not renewed by the EGM before 31st march 2015 whether he is ceased from post of Director itself on 01.04.2015 or he will continue as non executive director and only his Independent Directorship ceased.

Independent Director

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Views (1953)
Posted By: Sandeep 9 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)?

Section 139- Appointment of auditors.

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Views (1950)
Posted By: Aakanksha 10 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?

Section 62- Further issue of share capital.

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Views (1945)
Posted By: Arun kumar 10 year(s) ago

Answer

whether any comprehensive list of Resolution to be filed with ROC through MGT14 Read More
whether any comprehensive list of Resolution to be filed with ROC through MGT14

Board Meeting

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Views (1942)
Posted By: Purushottam lal agrawal 10 year(s) ago

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 ?

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

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

Answer

we hv filed a compounding application under section 220 as some attachment left to be filed at the time of filing of Form-23AC ACA Read More
we hv filed a compounding application under section 220 as some attachment left to be filed at the time of filing of Form-23AC ACA. Now before issuing the report the ROC is asking to make the default good. However as the mca site donot allow refiling of these two forms, we r not able to make the default good. But the ROC is adament and saying he will not issue a report unless the default is made good. can anybody suggest any solution?

Accounts

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Views (1937)
Posted By: Anita 10 year(s) ago

Answer

The New AOC -4 (Unlisted Companies) is applicable fro Companies having financial year w.e.f 01.04.2014. However, if a Company has Read More
The New AOC -4 (Unlisted Companies) is applicable fro Companies having financial year w.e.f 01.04.2014. However, if a Company has changed financial year and has now 15 months and commences from 01.01.2014 to 31.03.2015, how to file Form-AOC 4? If old version of 23AC,ACA is to be filed, what happens to Form 66 there? Annual Reports are preapared as per CA 2013 and Compliance Certificate is not obtained.? Please clarify.

Accounts

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Views (1937)
Posted By: V. maslekar 9 year(s) ago

Answer

If the term of the statutory auditor ends in March 2017, then who will audit the 1st quarter of financial year 2017-18. when shoul Read More
If the term of the statutory auditor ends in March 2017, then who will audit the 1st quarter of financial year 2017-18. when should the auditor be appointed for the Financial year 2017-18. Should we appoint the auditor for the F.Y. 2017-18 in the AGM to be held in year 2016-07?

Auditors

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Views (1935)
Posted By: Divakaran suresh 8 year(s) ago

Answer

SIR, What will be procedure for filing the return of allotment if it is in march 2014 such as Pas-5 , Valuation Report etc Read More
SIR, What will be procedure for filing the return of allotment if it is in march 2014 such as Pas-5 , Valuation Report etc

Private placement

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Views (1932)
Posted By: Reena 10 year(s) ago

Answer

To comply with the Companies Act, 2013, is it necessary to amend the Memorandum and articles of association Read More
To comply with the Companies Act, 2013, is it necessary to amend the Memorandum and articles of association

Incorporation

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Views (1931)
Posted By: Kamdhenu ispat limited 10 year(s) ago

Answer

As per Section 23 (2) for private limited company private placement it need to complied with part II i.e 42 further also need to Read More
As per Section 23 (2) for private limited company private placement it need to complied with part II i.e 42 further also need to complied with section 62, thus is it necessary to company to file PAS-4 as per rules and complied please give expert advice.

Private placement

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Views (1929)
Posted By: Cs ram thakkar 10 year(s) ago

Answer

Whether a director appointed as an independent director voluntarily by a Private Limited Company need to comply with 'Code for Ind Read More
Whether a director appointed as an independent director voluntarily by a Private Limited Company need to comply with 'Code for Independent Directors' stipulated in Schedule IV of the Companies Act, 2013? Also, will all other provisions of Companies Act, 2013 applicable to an Independent Director apply as it is to the Director appointed voluntarily as an Independent Director in Pvt. Ltd. Co.?

Independent Director

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Views (1927)
Posted By: Ajith 9 year(s) ago

Answer

One company is covered for compliance CSR. The company desires to contribute Prime Minister’s Relief Fund have 100% Income Tax exe Read More
One company is covered for compliance CSR. The company desires to contribute Prime Minister’s Relief Fund have 100% Income Tax exemption. Please provide contact detail for sending the contribution.

CSR

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Views (1923)
Posted By: Sunil kumar agrawal 9 year(s) ago

Answer

Hi Everyone, Can anybody provide with the format of Share certificate for preference Shares. In SH-1 its specifically mentioned Eq Read More
Hi Everyone, Can anybody provide with the format of Share certificate for preference Shares. In SH-1 its specifically mentioned Equity Share.

Private placement

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Views (1922)
Posted By: Haryana 9 year(s) ago

Answer

Can anyone guide me in process of SURRENDER of DIN Read More
Can anyone guide me in process of SURRENDER of DIN

Director

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Views (1919)
Posted By: Viral sanghavi 9 year(s) ago

Answer

Can a Company make an payment of sitting fees to firm in which the Independent Director of the company is a partner? Prompt re Read More
Can a Company make an payment of sitting fees to firm in which the Independent Director of the company is a partner? Prompt response with reference of particular section of Companies Act, 2013 will highly appreciate.

Independent Director

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Views (1918)
Posted By: Pritesh gangwal 9 year(s) ago

Answer

ONLY ONE SHAREHOLDER ACCEPTED OFFER FOR BUY BACK OF SHARES OUT OF TWENTY FIVE SHAREHOLDERS. PLEASE ADVISE ON THE MATTER. Read More
ONLY ONE SHAREHOLDER ACCEPTED OFFER FOR BUY BACK OF SHARES OUT OF TWENTY FIVE SHAREHOLDERS. PLEASE ADVISE ON THE MATTER.

Implementation of new law

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Views (1910)
Posted By: Ravinder 9 year(s) ago

Answer

If a company is 100 holding company then whether we fill the detail of consolidated data or stadalone Read More
If a company is 100 holding company then whether we fill the detail of consolidated data or stadalone

Accounts

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Views (1908)
Posted By: Sandeep 8 year(s) ago

Answer

What should be the date of appointment of Auditors who are appointed to fill Casual Vacancy pursuant to Sec.139(8)(i). Is Board Me Read More
What should be the date of appointment of Auditors who are appointed to fill Casual Vacancy pursuant to Sec.139(8)(i). Is Board Meeting date or EGM date? please clarify.

Auditors

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Views (1907)
Posted By: V. maslekar 9 year(s) ago

Answer

Are all companies mandatory required to alter its MOA and AOA as per the new Companies Act, 2013. There is any time limit. Please Read More
Are all companies mandatory required to alter its MOA and AOA as per the new Companies Act, 2013. There is any time limit. Please clarify.

Implementation of new law

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Views (1907)
Posted By: Sunil kumar agrawal 9 year(s) ago

Answer

1.IS IT MANDATORY TO FILE INC-32 (SPICe) FOR LESS THAN 7 SUBSCRIBERS TO THE MOA AND AOA?[AS INC-7 IS NOT ACCEPTING LESS THAN OR EQ Read More
1.IS IT MANDATORY TO FILE INC-32 (SPICe) FOR LESS THAN 7 SUBSCRIBERS TO THE MOA AND AOA?[AS INC-7 IS NOT ACCEPTING LESS THAN OR EQUAL TO 7 SUBSCRIBERS] 2. IF INC-32(SPICe) IS FILED IS THERE NO NEED TO FILE INC-22 AND DIR-12?

Incorporation

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Views (1906)
Posted By: Sumanta kumar dasgupta 7 year(s) ago

Answer

The company has appointed Auditors in last year AGM for 1 year 2014-15. Now in year 2015 the company can re-appoint auditors for 5 Read More
The company has appointed Auditors in last year AGM for 1 year 2014-15. Now in year 2015 the company can re-appoint auditors for 5 years as per Section 139 of the Companies Act, 2013. Or the company can appoint auditors for 4 years. rotation of auditors is not applicable to the company. Please clarify.

Auditors

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Views (1897)
Posted By: Sunil kumar agrawal 9 year(s) ago

Answer

For unlisted public companies, independent directors are required now for companies with turnover, sharecapital criterion. Time li Read More
For unlisted public companies, independent directors are required now for companies with turnover, sharecapital criterion. Time limit of 1 year is given to comply with this. However for CSR purpose, the company need to create CSR committee. Can company create CSR committe with all non-independent Directors? as company dont have any independent director and not required as such.

CSR

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Views (1895)
Posted By: Chandra 11 year(s) ago

Answer

A spl resolution proposed by way of postal ballot could not be passed for want for requisite majority. The relevant sections and Read More
A spl resolution proposed by way of postal ballot could not be passed for want for requisite majority. The relevant sections and rules state that the resolution passed has to be filed with ROC in MGT14 within the prescribed time period and the brief report of the resolutions passed by way of postal ballot shall be recorded in the minutes of shareholders meetings. In view of the words "resolutions passed", my query is should we file form MGT14 and record in the minutes book in the present case when the resolution has not been passed?

Shareholders Meeting

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Views (1893)
Posted By: Latha 10 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

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

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Views (1889)
Posted By: Himanshu 9 year(s) ago

Answer

is it Compulsory for for a Private Limited Company who issues shares to one of the two directors at face value, to appoint valuer? Read More
is it Compulsory for for a Private Limited Company who issues shares to one of the two directors at face value, to appoint valuer? Plz advice

Private placement

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Views (1889)
Posted By: Ravi 9 year(s) ago

Answer

can a private company converts its Convertible Preference shares into equity shares with in a period of one year of Allotment of C Read More
can a private company converts its Convertible Preference shares into equity shares with in a period of one year of Allotment of Convertible preference shares. is there any lock in period for preferential allotment of convertible preference shares

Private placement

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Views (1886)
Posted By: Ujjwal 9 year(s) ago

Answer

This is a case of a company to which Sec 139(2) of CA 2013 is not applicable. The present audit firm of the company is appointed f Read More
This is a case of a company to which Sec 139(2) of CA 2013 is not applicable. The present audit firm of the company is appointed for stat.audit since inception of the company (18 yrs). So the rotaion of auditors/firm under rule 6 is also not applicable. The tenure of the prev yrs held by the audit firm is 18 yrs though there could be 2 members of the same firm who have signed the auditor accounts over the past yrs. Form ADT 1 permits entry of only 10 yrs under pt no 4(i). Is there necessity to attach optional attachment for remaining 8 yrs?. Is the intent of law is only to seek the details of 10 yrs in case of audit firm as illustrated in rule 6 of the relevant rules?

Auditors

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Views (1886)
Posted By: Latha 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.

Section 56- Transfer and transmission of securities.

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

Answer

Can anybody provide me complete procedure for conversion of private limited Company into LLP Read More
Can anybody provide me complete procedure for conversion of private limited Company into LLP

Incorporation

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Views (1884)
Posted By: Mitesh 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).

Section 203- Appointment of key managerial personnel.

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Views (1879)
Posted By: Suniti 10 year(s) ago

Answer

if Notice of EGM has been issued, can we call off EGM? Read More
if Notice of EGM has been issued, can we call off EGM?

Shareholders Meeting

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Views (1878)
Posted By: Pooja garg 9 year(s) ago

Answer

As per section 89 the company has to file Form MGT-6 with ROC witin 30 days of receipt of declaration from the beneficial owner an Read More
As per section 89 the company has to file Form MGT-6 with ROC witin 30 days of receipt of declaration from the beneficial owner and the member whose name has been entered in the register of members but who is just a nominee for the share. As now as per new acts exemption are available in case of 100% subsidiaries only we hv to transfer the 100% shareholding to the holding company's name but for keeping the minimum two members one share has to be given to smbody as nominee of the holding company. In that case are we required to file MGT 6 as the beneficial owner is the holding company and not the person who is shown as a member or it is not necessary as the entry in the register of member and on share certificate shows him as nominee of the holding company.Further if it is to be filed whether both the forms MGT 4 & 5 are to be attached with MGT 6 means holding company as well as the nomine both hv to file the declaration with the company.

Disclosures

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Views (1875)
Posted By: Anita 10 year(s) ago

Answer

Is it required to re-appoint independent directors on the Board of a Listed company as per Companies Act, 2013 for the purpose of Read More
Is it required to re-appoint independent directors on the Board of a Listed company as per Companies Act, 2013 for the purpose of Formation of various committees in which independent directors were already appointed as per Companies Act, 1956? kindly suggest.

Independent Director

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Views (1868)
Posted By: Mitesh 10 year(s) ago

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.

Section 455- Dormant company.

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Views (1863)
Posted By: Akansha 10 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 ?

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

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Views (1861)
Posted By: Kanika gupta 10 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?

Section 197- Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits.

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Views (1860)
Posted By: Vasant patel 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 ??

Section 185- Loan to directors, etc.

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Views (1858)
Posted By: V. ramkumar 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

Section 197- Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits.

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Views (1856)
Posted By: Comsec 9 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.

Section 180- Restrictions on powers of Board.

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Views (1855)
Posted By: Vasant patel 10 year(s) ago

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 ?

Section 18- Conversion of companies already registered.

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

Answer

1. Allotment of shares in April 2014 to be done as per the Shareholders Agreement entered prior to 31st March 2014 - Will it requi Read More
1. Allotment of shares in April 2014 to be done as per the Shareholders Agreement entered prior to 31st March 2014 - Will it require to follow private placement guidelines. 2. Form 2 is pending for filing as on 31st March 2014 - Will it accept board resolution without letter of offer; etc if filed in May 2014

Private placement

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Views (1841)
Posted By: Chirag shah 10 year(s) ago

Answer

Can a Government Company be formed as a private company. Read More
Can a Government Company be formed as a private company.

Incorporation

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Views (1841)
Posted By: Manoj kumar koyalkar 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

Section 188- Related party transactions.

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Views (1840)
Posted By: Chandr sekhar 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

Section 184- Disclosure of interest by director.

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

Answer

Please provide me the format of Proof that the Company is permitted to use the address as the registered office of the Company if Read More
Please provide me the format of Proof that the Company is permitted to use the address as the registered office of the Company if the same is owned by any other entity/ Person (not taken on lease by company) as required in Form INC-22

Incorporation

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Views (1833)
Posted By: Dhavneesh gupta 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.

Section 73- Prohibition on acceptance of deposits from public.

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Views (1832)
Posted By: Vasant patel 10 year(s) ago

Answer

Dear friends, I am filing GNL-2 for PAS-4 in respect of Private Placement made in January 2014, but the fee is coming as Rs.600 on Read More
Dear friends, I am filing GNL-2 for PAS-4 in respect of Private Placement made in January 2014, but the fee is coming as Rs.600 only. No late fees is being charged. Has anyone come across this situation; pls advise.

Private placement

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Views (1829)
Posted By: Vithal kumar pingali 9 year(s) ago

Answer

What is the procedure for shares transferring from one director to another director by the private limited company Read More
What is the procedure for shares transferring from one director to another director by the private limited company

Compliances

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Views (1829)
Posted By: Aishwarya 9 year(s) ago

Answer

Sir, ABC PVT LTD has Three Directors on Their Board. They enter into a transaction with XYZ PVT LTD. There are no common Directors Read More
Sir, ABC PVT LTD has Three Directors on Their Board. They enter into a transaction with XYZ PVT LTD. There are no common Directors between the company. But one of the Directors of ABC PVT LTD is a member of XYZ PVT LTD. Will the transaction amount to Related Party Transaction.

Director

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Views (1829)
Posted By: Divakaran suresh 8 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.

Section 196- Appointment of managing director, whole-time director or manager.

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Views (1826)
Posted By: Amod kumar jha 7 year(s) ago

Answer

section 105(2) states that the explanatory statement shall state that proxy may not be a member of the company. However rule 19 pr Read More
section 105(2) states that the explanatory statement shall state that proxy may not be a member of the company. However rule 19 provides that only a member can be appointed as proxy. This appears to be contradictory. Pls advice

Shareholders Meeting

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Views (1826)
Posted By: Deepti vohra 10 year(s) ago

Answer

Dear Sir/ Madam, Ref: Section 186 and Explanation to Rule no 13 (1) of the Companies (Meetings of Board and its Powers) Rules, 20 Read More
Dear Sir/ Madam, Ref: Section 186 and Explanation to Rule no 13 (1) of the Companies (Meetings of Board and its Powers) Rules, 2014) According to me, we can investment, give loan etc ....exceeding limits ...........but we have to pass special resolution with in 1 year from the notification of these rules. It means if limits are 10 Cr .....my current borrowing is 12 cr.....I can further borrow to say 20 cr ( with out passing special resolution immediately).... but have to take approval for the same by 31.03.2015. Kindly provided your inputs. Thanks, Mandar

Shareholders Meeting

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Views (1824)
Posted By: Mandar 9 year(s) ago

Answer

Could you please clarify the following on the appointment of auditors please. We are private limited company having a paid up capi Read More
Could you please clarify the following on the appointment of auditors please. We are private limited company having a paid up capital of less than 20 crores. The existing auditors have completed 3years. We need to re-appoint in the AGM for next term. The present act requires appointment at the Board +AGM for 5 years. The clarification are as follows: a) Is it mandatory we have to appoint auditors for next 5years. b) If so whether we have to appoint for next two consequent years since they have already completed 3 years or for complete term of next 5 years. c) Will it be in compliance if we appoint for every 1 year as per the erstwhile act of 1956. d) Is it possible to leverage of sec 139(2) wherein three years have given for compliance as it states appointment includes re-appointment? We look forward to your valuable inputs on the above.

Auditors

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Views (1823)
Posted By: Tci chemicals india pvt ltd 10 year(s) ago

Answer

upto which level the management should consider the Senior Mangerial Personnel, whether President, GM or Asst GM for noting appoin Read More
upto which level the management should consider the Senior Mangerial Personnel, whether President, GM or Asst GM for noting appointment and removal or changes in respect of the same. Also clarify whether the Board should note the details of existing persons in this category

Board Meeting

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Views (1822)
Posted By: Ghanshyam saraf 10 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

Section 14- Alteration of articles.

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Views (1822)
Posted By: Amruta tendulkar 9 year(s) ago

Answer

PREFERENCE SHARE allotment other than existing share holder can be treated as Private placement Read More
PREFERENCE SHARE allotment other than existing share holder can be treated as Private placement

Private placement

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Views (1821)
Posted By: Dhananjay 9 year(s) ago

Answer

Can a person be appointed as MD/ WTD of more than 2 Govt. Companies ? Read More
Can a person be appointed as MD/ WTD of more than 2 Govt. Companies ?

KMP

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Views (1819)
Posted By: Nilesh patel 8 year(s) ago

Answer

what is the difference between private placement and preferential allotment for a private limited company. I a private company wis Read More
what is the difference between private placement and preferential allotment for a private limited company. I a private company wish to raise some capital by issuing new shares to some of the freinds and family members of the directors/promoters which section will be applicable sec 42 or 62. Further we treat this as a private placement thn will the valuation of shares is required by the registered valuer which is a requirement of sec 62. further who r these registered valuer as on today.

Private placement

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Views (1809)
Posted By: Anita 10 year(s) ago

Answer

An Indian company wants to allot shares to an NRI against his property situated in India which he wants to transfer to the Company Read More
An Indian company wants to allot shares to an NRI against his property situated in India which he wants to transfer to the Company. Please let me know if FCGPR needs to be filed in this case and what other compliances will be required under Companies Act, 2013

RBI

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Views (1806)
Posted By: Vithal kumar pingali 10 year(s) ago

Answer

Is the exemption notification of Private Companies is a draft notification or it is enforced? Read More
Is the exemption notification of Private Companies is a draft notification or it is enforced?

Implementation of new law

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Views (1801)
Posted By: Pradeep arora 9 year(s) ago

Answer

Company have appointed Statutory Auditor at previous AGM for 3 Years. For this year whether compny needs to file ADT-1 for appoint Read More
Company have appointed Statutory Auditor at previous AGM for 3 Years. For this year whether compny needs to file ADT-1 for appointment of same auditor?

Auditors

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Views (1800)
Posted By: Kamlesh g pandya 9 year(s) ago

Answer

Can the Company bear the travelling expenses of the Independent Directors for attending the general meeting of the company. Please Read More
Can the Company bear the travelling expenses of the Independent Directors for attending the general meeting of the company. Please highlight the relevant provision for or against.

Independent Director

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Views (1800)
Posted By: Arun kumar 10 year(s) ago

Answer

From which date, the tenure of the Independent Director start ie from the date of Board Resolution or the shareholders Resolution Read More
From which date, the tenure of the Independent Director start ie from the date of Board Resolution or the shareholders Resolution ?

Independent Director

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Views (1799)
Posted By: Ranjal laxmana shenoy 9 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)

Section 139- Appointment of auditors.

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

Answer

WHAT ARE THE ACTIVITIES AFTER WHICH THE COMPANY IS OBLIGED TO FILE eFORM MGT14 Read More
WHAT ARE THE ACTIVITIES AFTER WHICH THE COMPANY IS OBLIGED TO FILE eFORM MGT14

Governance

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Views (1796)
Posted By: S ganesan 9 year(s) ago

Answer

Is there any specifice requirement for NOC from the Income tax department for FORM-17 of LLP Act for conversion of a partnership f Read More
Is there any specifice requirement for NOC from the Income tax department for FORM-17 of LLP Act for conversion of a partnership firm into LLP when there is any scrutiny assessment is carrying on and no other dues are pending?????? Please also mentioned if there is requirement of any other approval from any other authority.????

Incorporation

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Views (1794)
Posted By: Vimal chhabra 9 year(s) ago

Answer

Hi Deepali, this is regarding yr answer given to my query on compounding application, u said we can file the same under CLSS But e Read More
Hi Deepali, this is regarding yr answer given to my query on compounding application, u said we can file the same under CLSS But even the CLSS does not allow refiling of Form 23AC and ACA. We hv already filed these form in that particular year.The main problem is not fee but is that these two forms cannot be filed again. We evn filed these again in Form-61 but ROC has not accepted the same as default made good.I really dont understand these ridiculous situations you dont allow refiling but u will accept the application only when the forms will be refiled.what should we do. Just because of this the compounding application is pending at roc itself for the last 6 monts. Really dont know what to do?

Accounts

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Views (1793)
Posted By: Anita 10 year(s) ago

Answer

Form DIR-4 regarding verification of applicant for application for DIN is required to be in the form of Affidavit format. So, wh Read More
Form DIR-4 regarding verification of applicant for application for DIN is required to be in the form of Affidavit format. So, whether the same has to be printed on non judicial stamp paper and notarised or just self attestation of the applicant is sufficient?

Incorporation

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Views (1793)
Posted By: Krishna kumar gaggar 10 year(s) ago

Answer

CAN YOU GIVE THE LIST OF RESOLUTIONS THAT ARE TO BE FILED WITH ROC IN FORM MGT-14 Read More
CAN YOU GIVE THE LIST OF RESOLUTIONS THAT ARE TO BE FILED WITH ROC IN FORM MGT-14

Compliances

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Views (1793)
Posted By: Divakaran suresh 8 year(s) ago

Answer

Should charge be filed for any Corporate guarantee given by one Company on behalf of any other Company in favour of any bank or ot Read More
Should charge be filed for any Corporate guarantee given by one Company on behalf of any other Company in favour of any bank or other company

Charges

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Views (1792)
Posted By: Arun kumar 10 year(s) ago

Answer

what is the last date for appointing the secretarial auditor? Read More
what is the last date for appointing the secretarial auditor?

Auditors

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Views (1790)
Posted By: Prekshi gupta 10 year(s) ago

Answer

Please advise when to open and when to close the offer after shareholders meeting in case of private placement. Read More
Please advise when to open and when to close the offer after shareholders meeting in case of private placement.

Private placement

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Views (1789)
Posted By: Ravinder 9 year(s) ago

Answer

How to prepare the Board's report of a OPC Read More
How to prepare the Board's report of a OPC

One Person Company

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Views (1788)
Posted By: Amardeepduggal 8 year(s) ago

Answer

THE COMPANY HAS RECENTLY COMPLETED BUY BACK OF EQUITY SHARES AND FILED RETURN OF BUY BACK IN FORM SH-11 AND SAME HAS BEEN APPROVED Read More
THE COMPANY HAS RECENTLY COMPLETED BUY BACK OF EQUITY SHARES AND FILED RETURN OF BUY BACK IN FORM SH-11 AND SAME HAS BEEN APPROVED BY THE ROC. CAN YOU ADVISE ME THE NEXT STEP TO BE DONE OR ANY OTHER FORM IS STILL REQUIRED TO BE FILED.

Implementation of new law

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Views (1785)
Posted By: Ravinder 9 year(s) ago

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.

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

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Views (1783)
Posted By: Suniti 10 year(s) ago

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?

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

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Views (1783)
Posted By: Vivek vijay 11 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.

Section 188- Related party transactions.

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Views (1782)
Posted By: Pooja garg 10 year(s) ago

Answer

can compulsory convertible preference shares be given dividend at par with equity shareholders? Read More
can compulsory convertible preference shares be given dividend at par with equity shareholders?

Private placement

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Views (1779)
Posted By: Nirupama v 9 year(s) ago

Answer

Sec.11 of the Companies Act, 2013 has been omitted vide Companies (Amendment) Act, 2015 and Notification to this effect has been i Read More
Sec.11 of the Companies Act, 2013 has been omitted vide Companies (Amendment) Act, 2015 and Notification to this effect has been issued. Does this mean, Companies incorporated as per the new Act need not obtain Commencement of Business Certificate? Can the Company start the business right away? Form -INC 21 has also been abolished/ Please clarify

Incorporation

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Views (1777)
Posted By: V. maslekar 9 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

Section 188- Related party transactions.

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

Answer

During financial year 2015-16, first board meeting is to be held on 25th april. asper section 184(1),the director has to give his Read More
During financial year 2015-16, first board meeting is to be held on 25th april. asper section 184(1),the director has to give his general notice of disclosure which is to be taken up in board meeting of 25-04-15. I want to know that for giving form MBP-1 by the director, can it be dated any date between 1st april to 25th april 2015 or it should be dated 31-03-2015 as it was in case of Form 24AA. Thanks and regds. naresh sakhuja

Disclosures

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Views (1770)
Posted By: Naresh 9 year(s) ago

Answer

Dear sir, Do we need to file DIR-12 in case of extending the term of independent director for further 5 years. Read More
Dear sir, Do we need to file DIR-12 in case of extending the term of independent director for further 5 years.

Independent Director

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Views (1766)
Posted By: Bunny sehgal 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?

Section 184- Disclosure of interest by director.

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Views (1764)
Posted By: Raj kumar gupta 10 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.

Section 185- Loan to directors, etc.

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

Answer

Hi, What are the requirements for change in registered office within the same city/state?Do we have any specific definition for lo Read More
Hi, What are the requirements for change in registered office within the same city/state?Do we have any specific definition for local limits?

Compliances

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Views (1753)
Posted By: Charu khatri 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.

Section 96- Annual general meeting.

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Views (1752)
Posted By: Manoj kumar koyalkar 9 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?

Section 188- Related party transactions.

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

Answer

N Pvt Ltd already has a Managing Director. It now proposes to appoint Mr X currently employed as Vice President as a WholeTime Dir Read More
N Pvt Ltd already has a Managing Director. It now proposes to appoint Mr X currently employed as Vice President as a WholeTime Director. What is the procedure to be followed.

Director

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Views (1747)
Posted By: K gopalan 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

Section 184- Disclosure of interest by director.

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

Answer

As per section 167, the directors should remain present for at least in one Board Meeting during the year. can the Director be pr Read More
As per section 167, the directors should remain present for at least in one Board Meeting during the year. can the Director be present through a video conference meeting instead of being personally present

Director

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Views (1742)
Posted By: Roshan 9 year(s) ago

Answer

Shares of a company listed on a regional stock exchange moved to the Dissemination Board of NSE. For compliance purposes, has this Read More
Shares of a company listed on a regional stock exchange moved to the Dissemination Board of NSE. For compliance purposes, has this company become Unlisted.

Compliances

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Views (1741)
Posted By: P t joseph 10 year(s) ago

Answer

PAS-6 is not release for private placement offer . please explain Read More
PAS-6 is not release for private placement offer . please explain

Private placement

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Views (1739)
Posted By: Sapna tomar 9 year(s) ago

Answer

In a private company ,if whole time director is designates as KEY MANAGERIAL PERSONNEL, whats is the procedure? Read More
In a private company ,if whole time director is designates as KEY MANAGERIAL PERSONNEL, whats is the procedure?

KMP

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Views (1738)
Posted By: Pooja garg 9 year(s) ago

Answer

Do companyneed to file ADT-1 for ratification of Auditors appointment for 1 year? Read More
Do companyneed to file ADT-1 for ratification of Auditors appointment for 1 year?

Auditors

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Views (1734)
Posted By: Siva naga vijay babu guggilam 9 year(s) ago

Answer

We have done fair valuation of warrants due to which there is notional profit arising and credited to p/l and so do we need to red Read More
We have done fair valuation of warrants due to which there is notional profit arising and credited to p/l and so do we need to reduce this amount from profit while calculating for CSR

CSR

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Views (1733)
Posted By: Sanjay solanki 9 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

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

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

Answer

if pvt company's director pledges his personal asset on behalf of company, then this transaction covered under which section of CA Read More
if pvt company's director pledges his personal asset on behalf of company, then this transaction covered under which section of CA 2013

Director

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Views (1730)
Posted By: Rohit kumar 8 year(s) ago

Answer

FINANCIAL ACCOUNTS - One Private Limited Company was incorporated in first week of March 2014. The Company is required to close it Read More
FINANCIAL ACCOUNTS - One Private Limited Company was incorporated in first week of March 2014. The Company is required to close its first Financial Accounts Year 31.03.2015 OR 31.03.2014. Please clarify.

Accounts

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Views (1720)
Posted By: Sunil kumar agrawal 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?

Section 177- Audit committee.

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

Answer

MOA and AOA to be uploaded with MCA with E-Form INC-7 for incorporation of a company will have to The Companies Act, 1956 also or Read More
MOA and AOA to be uploaded with MCA with E-Form INC-7 for incorporation of a company will have to The Companies Act, 1956 also or only to the Companies Act, 2013

Incorporation

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Views (1717)
Posted By: Sushil kumar goyal 10 year(s) ago

Answer

After incorporation if the members of pvt company is reduced below the statutory limit i.e. one member , what is the consequences Read More
After incorporation if the members of pvt company is reduced below the statutory limit i.e. one member , what is the consequences to be faced by the company and time limit in companies act 2013.

Incorporation

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Views (1717)
Posted By: Nishit 8 year(s) ago

Answer

F ltd., a listed company has applied for and been allotted convertible preference shares in N Private Ltd. F now holds 22% of the Read More
F ltd., a listed company has applied for and been allotted convertible preference shares in N Private Ltd. F now holds 22% of the aggregate of the paid up equity and convertible preference capital thereby making N an associate company. What are the responsibilities under the Companies Act for both companies. Additionally is there any clause under the listing agreement which F has to comply with? Gopalan

Governance

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Views (1713)
Posted By: K gopalan 8 year(s) ago

Answer

The final rule 4.1.c relating to issue of shares with differential voting rights mentions twenty-six percent as again twenty-five Read More
The final rule 4.1.c relating to issue of shares with differential voting rights mentions twenty-six percent as again twenty-five percent in the Draft rules or under CA 1956. Is this a typo.

Implementation of new law

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Views (1713)
Posted By: Kr sampath 10 year(s) ago

Answer

Dear Sir, kindly clarify whether exemptions given to pvt. ltd. companies vide notification 5 june 2015 are also ap Read More
Dear Sir, kindly clarify whether exemptions given to pvt. ltd. companies vide notification 5 june 2015 are also applicable to private limited companies having their debt securities listed?

Governance

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Views (1711)
Posted By: Bunny sehgal 8 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?

Section 186- Loan and investment by company.

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Views (1706)
Posted By: Kanika gupta 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

Section 173- Meetings of Board.

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

Answer

Can Main object under 2013 Act contain one of the objects as under :To carry on any other trade or business which can, in the opin Read More
Can Main object under 2013 Act contain one of the objects as under :To carry on any other trade or business which can, in the opinion of the Board of Directors, be advantageously carried on by the Company." similar to which used to be included in other objects in the past.

Incorporation

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Views (1705)
Posted By: Vijay khera 8 year(s) ago

Answer

Will nationalised banks and private banks be treated as public financial institution for the purpose of Sec 186 of CA 2013? Read More
Will nationalised banks and private banks be treated as public financial institution for the purpose of Sec 186 of CA 2013?

Definitions

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Views (1704)
Posted By: Latha 10 year(s) ago

Answer

A public limited company (Closely Held Company) having A clause "Investing surplus funds of the company" in the Main object of the Read More
A public limited company (Closely Held Company) having A clause "Investing surplus funds of the company" in the Main object of the company's MOA. but if i follow Section 117 which signify resolution need to be filed with ROC. now what to do when the company proposes to invest surplus funds, the broker demanded copy of board resolution. Before giving copy of such board resolution to the broker do i have to file the resolution with ROC. did the company exempt from filing such copy of board resolution to ROC because of the Main business clause.

Disclosures

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Views (1703)
Posted By: Bunny sehgal 8 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.

Section 185- Loan to directors, etc.

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Views (1702)
Posted By: Himanshu 9 year(s) ago

Answer

Please clarify regarding Consolidation of Accounts for the year ended 31.03.2015. 1) Is Consolidation of accounts required of Fore Read More
Please clarify regarding Consolidation of Accounts for the year ended 31.03.2015. 1) Is Consolidation of accounts required of Foreign Subsidiary? 2) Is Consolidation of accounts required of Foreign fellow Subsidiary also? 3) Is Consolidation of accounts required of Associate company also? An Indian Ltd. Co. have its Wholly owned subsidiary Co. in UK and UK Co. have its Wholly owned subsidiary Co. in USA. Please clarify for consolidation of Financial Statements.

Accounts

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Views (1700)
Posted By: Sunil kumar agrawal 9 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 ???????

Section 62- Further issue of share capital.

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Views (1697)
Posted By: Amruta 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.

Section 117- Resolutions and agreements to be filed.

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Views (1695)
Posted By: Rajesh chopra 9 year(s) ago

Answer

Can appointment of KMP be done through Resolution by Circulation. Read More
Can appointment of KMP be done through Resolution by Circulation.

KMP

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Views (1695)
Posted By: Manoj kumar koyalkar 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

Section 203- Appointment of key managerial personnel.

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Views (1695)
Posted By: Vikas gupta 10 year(s) ago

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

Section 4- Memorandum.

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Views (1694)
Posted By: Deepak 10 year(s) ago

Answer

Private Companies can maintain statutory records electronically voluntorily??? Read More
Private Companies can maintain statutory records electronically voluntorily???

Implementation of new law

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Views (1693)
Posted By: Ekta trivedi 9 year(s) ago

Answer

But Akansha,But in this case how we can issue offer letter and comply with the other provisions of private placement.We are issuin Read More
But Akansha,But in this case how we can issue offer letter and comply with the other provisions of private placement.We are issuing shares as a payment of the business acquired by the company.It has been mutually agreed by both the parties in advance. Further in private placement provisions there is no mention of issue of shares for consideration other thn cash.Only in section 62 a breif mention of this is given

Private placement

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Views (1689)
Posted By: Anita 9 year(s) ago

Answer

How to incorporate a Company? Read More
How to incorporate a Company?

Incorporation

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Views (1688)
Posted By: Sumit dhawan 10 year(s) ago

Answer

Can Public Limited Company form a Private Limited Company as its Subsidiary. Read More
Can Public Limited Company form a Private Limited Company as its Subsidiary.

Incorporation

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Views (1686)
Posted By: Sandhya 9 year(s) ago

Answer

I need clarification on two points:- a} Whether training on sustainable training to farmers by any corporate (Textile Unit) can Read More
I need clarification on two points:- a} Whether training on sustainable training to farmers by any corporate (Textile Unit) can be considered as a CSR Activity? b) Whether any pest control services (Rodent and Mosquito Control) rendered to any government hospital can be considered as a CSR Activity (Preventive Healthcare)? Please revert with your expert comment. Regards/ Dharmesh Dixit

CSR

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Views (1686)
Posted By: Dharmesh dixit 7 year(s) ago

Answer

Are foreign subsidiary accounts (located in jurisdiction where audit is not mandatory) required to be audited for consolidated A/c Read More
Are foreign subsidiary accounts (located in jurisdiction where audit is not mandatory) required to be audited for consolidated A/c of indian listed holding co.?

Accounts

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Views (1685)
Posted By: Shrenik 9 year(s) ago

Answer

PLEASE PROVIDE SHAREHOLDERS RESOLUTION FOR BUY BACK Read More
PLEASE PROVIDE SHAREHOLDERS RESOLUTION FOR BUY BACK

Implementation of new law

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Views (1685)
Posted By: Ravinder 9 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 ?

Section 186- Loan and investment by company.

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

Answer

The Financial Statements are prepared in Indian AS. Some portion of redeemable pref. shares are shown in other equity ( as equity Read More
The Financial Statements are prepared in Indian AS. Some portion of redeemable pref. shares are shown in other equity ( as equity portion of compound financial instrument) and remaining portion in Long term Borrowings(as liability component of compound Financial Instrument). So the query is while preparing MGT-9 to calculate indebtedness whether we have to take the amount of redeemable pref shares shown in Long term borrowings in Secured loans? Even for that matter the amount of indebtedness in MGT-7? What will be the paid up capital of the Company? Only Equity Share Capital

Accounts

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Views (1682)
Posted By: Asheeba pereira 7 year(s) ago

Answer

WHETHER A PRIVATE SUBSIDIARY COMPANY CAN BUY BACK ITS EQUITY SHARES Read More
WHETHER A PRIVATE SUBSIDIARY COMPANY CAN BUY BACK ITS EQUITY SHARES

Implementation of new law

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Views (1681)
Posted By: Ravinder 9 year(s) ago

Answer

whether in case of small company AOC 4 is required to be certified by Professionals Read More
whether in case of small company AOC 4 is required to be certified by Professionals

Accounts

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Views (1680)
Posted By: Purushottam lal agrawal 9 year(s) ago

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 ?

Section 129- Financial statement.

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Views (1679)
Posted By: Meenakshi sharma 10 year(s) ago

Answer

Whether the financial Statements, directors report and auditors report for the F.Y.13-14 are be drawn up as per Companies Act, 195 Read More
Whether the financial Statements, directors report and auditors report for the F.Y.13-14 are be drawn up as per Companies Act, 1956 or 2013 ? ?

Governance

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Views (1678)
Posted By: Unnikrishnan n 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.

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

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Views (1678)
Posted By: Ravinder 5 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?

Section 179- Powers of Board.

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Views (1677)
Posted By: Kanika gupta 10 year(s) ago

Answer

One Listed Company has extended its Financial Year by Six months i.e upto 30th September 2013, So under new act its next financia Read More
One Listed Company has extended its Financial Year by Six months i.e upto 30th September 2013, So under new act its next financial year will be from 1st October 2013 to 30th September 2014 or 1st April 2013 to 31st March 2014 or 1st October 2013 to 31st March 2014.

Accounts

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Views (1676)
Posted By: Kaushik d nahar 10 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.

Section 73- Prohibition on acceptance of deposits from public.

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

Answer

Form DIR 12 is to be filed for appointment of any director. The form requires disclosure of interest in other entities. The firs Read More
Form DIR 12 is to be filed for appointment of any director. The form requires disclosure of interest in other entities. The first field pertains to CIN/LLPIN/FCRN/Registration no. Does it mean that the disclosure is required with respect to companies in which the appointee is director and/or shareholder, LLP in which he is partner, Foriegn company in which he is director and/or member, partnership firm in which he is a partner and HUF/Trust in which he is interested?. Is the disclosure same as required under Sec 184(1)?. If your answer is affirmative, should the director disclose his direct interests once again in the first board meeting which he attends after becoming director in compliance of Sec 184(1)?

Director

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Views (1675)
Posted By: Latha 10 year(s) ago

Answer

A Public Limited unlisted company has appointed statutory auditor in AGM 2014 for the financial year 2014-2015. Now company desire Read More
A Public Limited unlisted company has appointed statutory auditor in AGM 2014 for the financial year 2014-2015. Now company desires to appoint Joint Auditor to other CA Firm in company for year 2014-15. Please provide procedure to appoint joint auditor. Please also clarify that joint auditor may be appointed in Board Meeting. Or company required to appoint joint auditor in BM & also required approval of shareholders in EGM.

Auditors

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Views (1673)
Posted By: Sunil kumar agrawal 9 year(s) ago

Answer

A Company having Rs. 5.00 cr. net profit in a year in last three financial year but having net average loss of Rs. (50.00) lacs. Read More
A Company having Rs. 5.00 cr. net profit in a year in last three financial year but having net average loss of Rs. (50.00) lacs. Can Company give following disclosure in the Board Report for CSR : a. Average net profit of the Company for last three financial year - NIL b. Prescribed CSR expenditure (2% of the average net profit) - NIL OR disclosure should be given any other manner ?

CSR

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Posted By: Sanjay sharma 9 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

Section 203- Appointment of key managerial personnel.

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Views (1671)
Posted By: Prekshi gupta 10 year(s) ago

Answer

X Private Limited want to acquire 100% shares of Y Private Limited. Y Pvt Ltd. has three directors of which two are Foreign Nation Read More
X Private Limited want to acquire 100% shares of Y Private Limited. Y Pvt Ltd. has three directors of which two are Foreign National and residing abroad. These two FN are shareholders. X Pvt Ltd will have new 2 additional directors. After appointment of additional directors - position is as under IN - 3 Directors, FN - 2 Directors. At the Board meeting to be held in India for transfer of shares of X to Y - can FN Directors participate in the meeting through video conferencing ? Can the votes of FN Directors be treated as valid vote for transfer ? Whether the subject of transfer of shares is to be treated as acquisition of company ? And If it is to treated as Acquisition, whether the said business can be transacted through video conferencing method ? Please reply. CS ATUL KULKARNI

Board Meeting

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Views (1668)
Posted By: Atul kulkarni 9 year(s) ago

Answer

We want to start a company without share capital, is this limited only to company limited by guarantee? Read More
We want to start a company without share capital, is this limited only to company limited by guarantee?

Incorporation

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Views (1666)
Posted By: Secretarial monks 8 year(s) ago

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

Section 144- Auditor not to render certain services.

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Views (1665)
Posted By: Ravi 10 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.

Section 186- Loan and investment by company.

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

Answer

how many number of audits can a CA can under take Read More
how many number of audits can a CA can under take

Auditors

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Views (1662)
Posted By: Mohit kumar 9 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?)

Section 92- Annual return.

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Views (1662)
Posted By: Vivek vijay 10 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 ?

Section 42 - Issue of shares on private placement basis.

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Views (1662)
Posted By: Vasant patel 10 year(s) ago

Answer

We are issuing shares to a person in exchange providing advisory services to the co. t. It gets covered under 62(1)(c) preferentia Read More
We are issuing shares to a person in exchange providing advisory services to the co. t. It gets covered under 62(1)(c) preferential allotment for consideration other than cash. Act says also follow sec 42 i.e. pvt. placement which talks about that the amount for issue of shares should come by way of cheque in a separate bank account. But there is no money coming. Only in exchange of services, we are giving shares. How to comply with Section 42?

Private placement

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Views (1658)
Posted By: Revathy` 9 year(s) ago

Answer

Dear Sir, Whether stamp duty is required to be paid on fixed assets of the wholly owned subsidiary Company at the time of amalgama Read More
Dear Sir, Whether stamp duty is required to be paid on fixed assets of the wholly owned subsidiary Company at the time of amalgamation /merger of wholly owned subsidiary Company into holding Company ?

Restructuring

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Views (1656)
Posted By: Arun rajabhau joshi 7 year(s) ago

Answer

A private company having an authorised capital of Rs. 2 Crores wish to takeover the business of a partnership firm. In that firm b Read More
A private company having an authorised capital of Rs. 2 Crores wish to takeover the business of a partnership firm. In that firm both the partners hv contributed 75 lacs each as their capital contribution. i.e Rs.1.50 Cr.The company proposes to issue equity shares to both the partners at par i.e issue of 1500000 shares of Rs.10/- each. As the company is not getting hard cash at the time of allotment,this shares will be issued for consideration other than cash. My query is about what option is to be selected for point no 4 (iv) of the form PAS 3, consideration received is (a)- assets and property acquired or (b)- Goodwill or (d)-Conversion of loan or (e) any other and write against capital contributed in firm.Further how this allotment will take place. Are we require to follow the whole private placement procedure.

Private placement

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Views (1651)
Posted By: Anita 9 year(s) ago

Answer

Whether Address proof and Proof of Identity as required to be attached in Form INC-7 should be attested or not? Read More
Whether Address proof and Proof of Identity as required to be attached in Form INC-7 should be attested or not?

Incorporation

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Views (1651)
Posted By: Dhavneesh gupta 10 year(s) ago

Answer

What are the benefits available to Non-Executive director in Companies Act,2013 ? Read More
What are the benefits available to Non-Executive director in Companies Act,2013 ?

Director

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Views (1648)
Posted By: Genicon 10 year(s) ago

Answer

Some suggestions were asked from stakeholders about changes in Companies Act 2013 regarding small private companies. These were to Read More
Some suggestions were asked from stakeholders about changes in Companies Act 2013 regarding small private companies. These were to be laid on table of the House. What became of them?

Small Company

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Views (1647)
Posted By: M b s agarwal 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

Section 12- Registered office of company.

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Views (1647)
Posted By: Sandhya 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

Section 188- Related party transactions.

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Views (1646)
Posted By: Revati sathe 9 year(s) ago

Answer

can a private company give the guarantee to a partnership firm in which company is a partner but directors are not partners and th Read More
can a private company give the guarantee to a partnership firm in which company is a partner but directors are not partners and their relatives are not partner

Implementation of new law

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Views (1645)
Posted By: Rajesh chopra 10 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

Section 188- Related party transactions.

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

Answer

Respected Sir / Madam, We wish to apply for Fast Track Exit Scheme on one of our Private Limited Company. The Company has made def Read More
Respected Sir / Madam, We wish to apply for Fast Track Exit Scheme on one of our Private Limited Company. The Company has made default in filing of Balance Sheet and Annual Return for past 6 years. In view of the above, whether we can proceed for fast track exit of the Company with defaulting status. Please accord your valuable direction.

Winding-up

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Views (1641)
Posted By: Murli lahoti 10 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.

Section 185- Loan to directors, etc.

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

Answer

Following Point no. (e) of Directors' responsibility statement is not applicable to the Private Company, but can Private Company g Read More
Following Point no. (e) of Directors' responsibility statement is not applicable to the Private Company, but can Private Company give this point in directors' Report OR not ? (e) " the Directors have laid down internal financial controls, which are adequate and are operating effectively"

Director

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Views (1639)
Posted By: Sanjay sharma 9 year(s) ago

Answer

WHAT IS THE PROCEDURE TO ALLOT SHARES TO A DIRECTOR AGAINST LOAN . IS THERE ANY CHANGE WHETHER HE IS A SHAREHOLDER OR NOT Read More
WHAT IS THE PROCEDURE TO ALLOT SHARES TO A DIRECTOR AGAINST LOAN . IS THERE ANY CHANGE WHETHER HE IS A SHAREHOLDER OR NOT

Private placement

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Views (1638)
Posted By: Reena 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

Section 148- Central Government to specify audit of items of cost in respect of certain companies.

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Views (1636)
Posted By: Anil 10 year(s) ago

Answer

For Private placement by Pvt Ltd company Does section 42 , rule their under, Sec 62 rules there under applies and if so Rule 14 (c Read More
For Private placement by Pvt Ltd company Does section 42 , rule their under, Sec 62 rules there under applies and if so Rule 14 (c) of the Companies (Prospectus and Allotment of Securities) Rules, 2014 requires private placement requires minimum investment size Rs. 20,000 what is the intention and requirement, does it means now from 01.4.2014 u can not have a shareholder in private limited company less than Rs. 20,000, please give ur expert comment.

Private placement

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Views (1634)
Posted By: Cs ram thakkar 10 year(s) ago

Answer

Some unsecured loans from one of the shareholders are outstanding in the books of our public limited unlisted company as at 31.03. Read More
Some unsecured loans from one of the shareholders are outstanding in the books of our public limited unlisted company as at 31.03.2014 for which statement in lieu of advertisement was filed with the ROC pursuant to section 58AA of the Companies Act, 1956? Are we supposed to file forms DPT- 3 and DPT - 4 respectively for this?

Implementation of new law

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Views (1634)
Posted By: Anil 10 year(s) ago

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.

Section 177- Audit committee.

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Views (1633)
Posted By: Vasant patel 9 year(s) ago

Answer

What is the difference between public company and private company as per companies act 2013 Read More
What is the difference between public company and private company as per companies act 2013

Incorporation

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Views (1631)
Posted By: Ashok kumar verma 10 year(s) ago

Answer

Could you pl clarify the following: whether Sec 188 ( Related party) is applicable for appointment of a Director who is not relate Read More
Could you pl clarify the following: whether Sec 188 ( Related party) is applicable for appointment of a Director who is not related to the existing director nor holds any shares in the company?

Board Meeting

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Views (1631)
Posted By: Balachandran 10 year(s) ago

Answer

A co. having a paid up capital of more than 50 cr ; already having MD and CS as KMP. Does it reuired to appoint CFO also as per se Read More
A co. having a paid up capital of more than 50 cr ; already having MD and CS as KMP. Does it reuired to appoint CFO also as per sec 203 of the act

KMP

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Views (1631)
Posted By: Vandana bhatia 10 year(s) ago

Answer

The company has appointed Auditors in last year 2014 AGM for 5 years & filed to MCA Form ADT -1. This year the company has ratifie Read More
The company has appointed Auditors in last year 2014 AGM for 5 years & filed to MCA Form ADT -1. This year the company has ratified appointment of auditors for the year 2015-16 in AGM 2015. Is company required to file Form ADT -1 to MCA for ratification re-appointment of Auditors? Please clarify.

Auditors

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Views (1627)
Posted By: Sunil kumar agrawal 9 year(s) ago

Answer

Do companyneed to file ADT-1 for ratification of Auditors appointment for 1 year? Read More
Do companyneed to file ADT-1 for ratification of Auditors appointment for 1 year?

Auditors

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Views (1626)
Posted By: Siva naga vijay babu guggilam 9 year(s) ago

Answer

The Companies (Acceptance of Deposits) Rules, 2014 contains definition of both deposit and depositor.While deposit covers many oth Read More
The Companies (Acceptance of Deposits) Rules, 2014 contains definition of both deposit and depositor.While deposit covers many others except the members, the depositor any member of the company who has made a deposit with the company in accordance with the provisions of sub-section (2) of section 73 of the Act. So whiling filing Form DPT-4, whom should we cover i e. only members or everyone as covered in deposits

Definitions

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Views (1626)
Posted By: Krishna kumar gaggar 10 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.

Section 185- Loan to directors, etc.

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

Answer

We are an unlisted Public Company comprising 8 person on Board of Directors. Out of 8 directors, 4 are Independent Directors (inc Read More
We are an unlisted Public Company comprising 8 person on Board of Directors. Out of 8 directors, 4 are Independent Directors (including one woman director), 2 are Nominee Directors, 1 is Managing Director and remaining 1 is non executive director cum chairman. We need to know whether our company’s board composition is in compliance of Section 152 (6) of the CA 2013. As per section 152 (6), not less than 2/3 of the total number of directors of a public company shall be appointed on liable to retire by rotation basis and while counting total numbers of directors, independent director shall not be counted for this purpose. Further as per Shareholders’ Agreement nominee directors are not liable to retire by rotation and Managing director by virtue of his appointment of 3 years, he will also not be treated as retiring director. Thus we are left with one non executive director who is only retiring director. Do we need to appoint more directors to comply with Section 152 (6)? Your views are solicited.

Board of Directors

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Views (1623)
Posted By: Ujjwal 10 year(s) ago

Answer

While maintaining MGT-1(Register of members), is it necessary to record the member's data since incorporation of the company or wo Read More
While maintaining MGT-1(Register of members), is it necessary to record the member's data since incorporation of the company or would it suffice if only the data after the date of enforcement of section 88 is recorded ?

Company Secretary

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Views (1622)
Posted By: Vinay tripathi 7 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?

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

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

Answer

Pl. anybody help me in this regard (i) What is the amount of stamp duty payable in Form INC-21 if the registered office of the co Read More
Pl. anybody help me in this regard (i) What is the amount of stamp duty payable in Form INC-21 if the registered office of the company is situated in Delhi. (ii) And can we pay the stamp duty online through mca21 portal.

Incorporation

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Views (1618)
Posted By: Dhavneesh gupta 10 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)

Section 188- Related party transactions.

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Views (1618)
Posted By: Revati sathe 9 year(s) ago

Answer

Can we hold shareholders meeting via video conferencing; quorum is physically valid. Dear Sir need valid basis for that if we can Read More
Can we hold shareholders meeting via video conferencing; quorum is physically valid. Dear Sir need valid basis for that if we can hold meeting

Shareholders Meeting

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Views (1617)
Posted By: Sahil 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.

Section 196- Appointment of managing director, whole-time director or manager.

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Views (1616)
Posted By: Prerna kapoor 8 year(s) ago

Answer

A Company has passed a resolution for issue of debentures and the draft letter of offer has also been approved by the Board which Read More
A Company has passed a resolution for issue of debentures and the draft letter of offer has also been approved by the Board which would be taken to the shareholders for their approval. Can the company also at the same Board meeting authorise the Chairman or Company Secretary to issue the offer letter for the preferential issue once the same is approved by the shareholders or should the company again hold a board meeting after the General meeting to approve the issue of the offer letter.

Private placement

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Views (1616)
Posted By: Arun kumar 10 year(s) ago

Answer

Please provide me the format of Auditor Certificate required to be attached with Form-DPT-4 for Deposits pending on 01.04.2014. Read More
Please provide me the format of Auditor Certificate required to be attached with Form-DPT-4 for Deposits pending on 01.04.2014.

Disclosures

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Views (1611)
Posted By: Dhavneesh gupta 10 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

Section 56- Transfer and transmission of securities.

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Views (1611)
Posted By: Sanjay 9 year(s) ago

Answer

Can a subsidiary give loan to its holding company under new companies act, 2013. may guide with reasons. Read More
Can a subsidiary give loan to its holding company under new companies act, 2013. may guide with reasons.

Fund raising

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Views (1609)
Posted By: Neeraj 9 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?

Section 186- Loan and investment by company.

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Views (1609)
Posted By: Kamlesh 10 year(s) ago

Answer

A CA Firm in which 50 % of the Partners are directors of the Company can be appointed as internal Auditors of that Company? Read More
A CA Firm in which 50 % of the Partners are directors of the Company can be appointed as internal Auditors of that Company?

Auditors

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Views (1609)
Posted By: Akansha 10 year(s) ago

Answer

I want to incorporate a company with 3 directors, 2 of them are in Germany, How to get documents attested in this case. And wha Read More
I want to incorporate a company with 3 directors, 2 of them are in Germany, How to get documents attested in this case. And what about INC-9 and INC-10, these are to be printed on stamp paper and requires notary, how to do it practically. Please note: the two directors who are in Germany are residing there since last 10 months and they have all the documents like PAN, Aadhar, Driving Licence etc. If someone has done this, please answer, its quite urgent.

Incorporation

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Views (1609)
Posted By: Amardeepduggal 8 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.

Section 73- Prohibition on acceptance of deposits from public.

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Views (1607)
Posted By: Sandhya 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

Section 73- Prohibition on acceptance of deposits from public.

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

Answer

A Private Company has filed DIR-12 for appointing of directors to MCA but later on came to know that they are to be appointed as Read More
A Private Company has filed DIR-12 for appointing of directors to MCA but later on came to know that they are to be appointed as WTD. What remedy does the company have now?Should it have to obtain Shareholders approval now ?

Board of Directors

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Views (1605)
Posted By: Mookambika r 10 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?

Section 186- Loan and investment by company.

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Views (1605)
Posted By: Sridhar 8 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??

Section 185- Loan to directors, etc.

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

Answer

Internal Auditors in a pvt co : A private co has a CA firm as an internal auditors of last many years. As per Companies, 2013, Int Read More
Internal Auditors in a pvt co : A private co has a CA firm as an internal auditors of last many years. As per Companies, 2013, Internal auditors are not mandatory.Is filing of Form MGT 14 required for continuance of the same Internal audit firm ?

Auditors

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Views (1604)
Posted By: Manouj agrawaal, fca, partner 9 year(s) ago

Answer

Is there any software available in the market for keeping registers and records in eform as per companies act, 2013. Read More
Is there any software available in the market for keeping registers and records in eform as per companies act, 2013.

Implementation of new law

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Views (1600)
Posted By: Ranjan kumar sarangi 10 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??

Section 204- Secretarial Audit for bigger companies.

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Views (1598)
Posted By: V. ramkumar 9 year(s) ago

Answer

18.02.2016 Query regarding appointment of Whole time Director (WTD) - (Section 196) Company “ABC ltd” at its meeting of the Read More
18.02.2016 Query regarding appointment of Whole time Director (WTD) - (Section 196) Company “ABC ltd” at its meeting of the Board of Directors of the Company held on 9th February, 2016 has appointed Mr. A (age more than 70 years) as a WTD of the Company with effect from 1st April, 2016 for a period of 3 years and Mr. B who is presently the WTD will retire with effect from the said date. As per rule 3 of The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 company “ABC ltd” is required to file return of appointment of a WTD in form MR-1 within 60 days of such appointment. Query: Whether 60 days will be counted from the date of Board meeting i.e., 9th February, 2016 or from the date of Annual General Meeting somewhere in August 2016 when the shareholder will pass special resolution for such an appointment.

Director

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Views (1598)
Posted By: Amish 8 year(s) ago

Answer

Will the company has to file ADT-1 for re-appointment of auditors for the financial year 13-14? Read More
Will the company has to file ADT-1 for re-appointment of auditors for the financial year 13-14?

Auditors

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Views (1594)
Posted By: Ravi 10 year(s) ago

Answer

IN THE CORPORATE GOVERNANCE REPORT TO BE FURNISHED IN THE ANNUAL REPORT SHOULD WE GIVE THE REMUNERATION POLICY ITSELF OR IS IT ENO Read More
IN THE CORPORATE GOVERNANCE REPORT TO BE FURNISHED IN THE ANNUAL REPORT SHOULD WE GIVE THE REMUNERATION POLICY ITSELF OR IS IT ENOUGH THAT WE MENTION THAT THE COMPANY HAS GOT A REMUNERATION POLICY.

Governance

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Views (1590)
Posted By: Divakaran suresh 9 year(s) ago

Answer

As per Section 173(3) of Companies act, 2013, Board Meeting may be called at shorter notice to transact urgent business, but there Read More
As per Section 173(3) of Companies act, 2013, Board Meeting may be called at shorter notice to transact urgent business, but there is no clarification about scope of urgent business. so my question is , which businesses will be treated as urgent business ?

Board Meeting

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Views (1588)
Posted By: Revati sathe 9 year(s) ago

Answer

Thanks Akansha, but how will we comply with the procedure of sec 42. One of the condition of section 42 is that consideration must Read More
Thanks Akansha, but how will we comply with the procedure of sec 42. One of the condition of section 42 is that consideration must be in cash paid through cheque (bank) and the amount should not be less than 20000/-. In our case there is no cash and the consideration has been received at the time of takeover of the business and the shares are being issued at par as agreed between the parties. Now what will we do about Valuation?

Private placement

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Views (1587)
Posted By: Anita 9 year(s) ago

Answer

Company wants to offer Right shares to its existing shareholders. Out of all shareholders one shareholder is having partly paid up Read More
Company wants to offer Right shares to its existing shareholders. Out of all shareholders one shareholder is having partly paid up shares. Can company issue the shares to the same shareholder.?

Private placement

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Views (1586)
Posted By: Jainam shah 7 year(s) ago

Answer

A pvt company wants to cancel an allotment of equity shares. The return of allotment with respect to the same has been filed with Read More
A pvt company wants to cancel an allotment of equity shares. The return of allotment with respect to the same has been filed with the ROC and the same is approved. Is there any way by which the allotment can be cancelled?

Fund raising

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Views (1585)
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..

Section 196- Appointment of managing director, whole-time director or manager.

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Views (1585)
Posted By: Sunil kumar agrawal 9 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?

Section 184- Disclosure of interest by director.

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Views (1583)
Posted By: Latha 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?

Section 149- Company to have Board of directors.

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Views (1583)
Posted By: S.m.a.millath 10 year(s) ago

Answer

whether demand of poll is applicable in case of the Company has conducted e-voting at the AGM. Read More
whether demand of poll is applicable in case of the Company has conducted e-voting at the AGM.

Shareholders Meeting

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Views (1581)
Posted By: Priyadarshini 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.

Section 203- Appointment of key managerial personnel.

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Views (1580)
Posted By: Murli lahoti 9 year(s) ago

Answer

If a existing Auditor has expressed his unwillingness to get reappointed at AGM can Board of Directors recommend appointment of ne Read More
If a existing Auditor has expressed his unwillingness to get reappointed at AGM can Board of Directors recommend appointment of new directors or a special notice is compulsoriy to be recived from members

Auditors

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Views (1580)
Posted By: Prerna 9 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?

Section 56- Transfer and transmission of securities.

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Views (1579)
Posted By: Anil 10 year(s) ago

Answer

Ours is an Unlisted Public Limited Company. The turnover of the Company has crossed Rs. 300 Crores as at 31.03.2015.Prior to 31.03 Read More
Ours is an Unlisted Public Limited Company. The turnover of the Company has crossed Rs. 300 Crores as at 31.03.2015.Prior to 31.03.2015, it had not crossed the turnover to Rs. 250 Crores. My Query is whether we will need to appoint the Secretarial Auditor for obtaining the Secretarial Audit Report for the year 2015-16 when the accounts have not been audited till date.

Auditors

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Views (1578)
Posted By: Anil 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.

Section 197- Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits.

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Views (1577)
Posted By: Radha 9 year(s) ago

Answer

if a company has only Body corporate as shareholder and one nominee shareholder than in that case in annual return no. what will b Read More
if a company has only Body corporate as shareholder and one nominee shareholder than in that case in annual return no. what will be no. of shareholders as nominee is not the promoter shareholder of the company he is only a registered member.

Disclosures

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Views (1575)
Posted By: Arpitha 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?

Section 149- Company to have Board of directors.

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Views (1573)
Posted By: Prerna kapoor 8 year(s) ago

Answer

Will the reappointment of Independent Director be as per ordinary or special resolution in the AGM of a listed Company? Read More
Will the reappointment of Independent Director be as per ordinary or special resolution in the AGM of a listed Company?

Independent Director

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Views (1573)
Posted By: Rajesh agrawal 10 year(s) ago

Answer

There is a small company C having just two directors Husband H and wife W. The share holders are Father F and Mother M of H , and Read More
There is a small company C having just two directors Husband H and wife W. The share holders are Father F and Mother M of H , and son S & daughter D of H and W and Huf whose karta is H. what will be the procedure to appoint son S as whole time director of C.

Director

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Views (1571)
Posted By: M b s agarwal 10 year(s) ago

Answer

Hi, For appointment of a whole time director in a private company, would we need to file both DIR 12 and MR 1? If yes, please shar Read More
Hi, For appointment of a whole time director in a private company, would we need to file both DIR 12 and MR 1? If yes, please share the appointment letter format that is required to be annexed to DIR 12. Thanks

Board of Directors

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Views (1570)
Posted By: Deepti vohra 10 year(s) ago

Answer

company has purchased car for business purpose with bank finance. Is it necessary to file Form CHG 1 creating charge on Car under Read More
company has purchased car for business purpose with bank finance. Is it necessary to file Form CHG 1 creating charge on Car under Companies Act, 2013

Charges

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Views (1568)
Posted By: Kamdhenu ispat limited 9 year(s) ago

Answer

Hi, Please advise, in case of private company where director is executive and drawing salary from the company, will he deemed to b Read More
Hi, Please advise, in case of private company where director is executive and drawing salary from the company, will he deemed to be WTD?

Director

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Views (1567)
Posted By: Nidhi goel 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

Section 197- Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits.

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Views (1565)
Posted By: Radha 9 year(s) ago

Answer

Some relaxation has been given to Private Cos (vide Notification dated 05-06-2015) for Sec-185 (Loan to Directors). Please let Read More
Some relaxation has been given to Private Cos (vide Notification dated 05-06-2015) for Sec-185 (Loan to Directors). Please let me know whether the criteria of relaxation should be judged from the point of view of the company giving loan or receiving proposed loan or both?

Implementation of new law

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Views (1565)
Posted By: Debabrata 8 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?

Section 185- Loan to directors, etc.

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Views (1562)
Posted By: Akansha 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.

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

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Views (1561)
Posted By: Sunil kumar agrawal 9 year(s) ago

Answer

a listed company willing to designate officers of the comapny other than those specified in Section 2 (51) as KMP. is there any le Read More
a listed company willing to designate officers of the comapny other than those specified in Section 2 (51) as KMP. is there any legal requirement for this under Companies Act, 2013, Listing agreement?

KMP

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Views (1558)
Posted By: Kamdhenu ispat limited 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,

Section 3- Formation of company.

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Views (1558)
Posted By: Shiv kumar agarwal 8 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

Section 139- Appointment of auditors.

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

Answer

can a private limited company issue ECBs if so what are the compliances need to be followed? Read More
can a private limited company issue ECBs if so what are the compliances need to be followed?

Fund raising

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Views (1557)
Posted By: Sarada 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

Section 117- Resolutions and agreements to be filed.

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Views (1555)
Posted By: Rakesh 8 year(s) ago

Answer

If a director is a member of a family owned trust, is disclosure in mbp -1 required? Read More
If a director is a member of a family owned trust, is disclosure in mbp -1 required?

Disclosures

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Views (1554)
Posted By: Mookambika r 9 year(s) ago

Answer

Pl. tell me whether page no. on MOA / AOA should be written on the face/head of each page or on the foot of each page. Read More
Pl. tell me whether page no. on MOA / AOA should be written on the face/head of each page or on the foot of each page.

Incorporation

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Views (1554)
Posted By: Dhavneesh gupta 10 year(s) ago

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?

Section 153- Application for allotment of Director Identification Number.

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Views (1549)
Posted By: Anamika 10 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??

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

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

Answer

Can a Whole Time Director of Section 8 Company be appointed CEO of the same company and can continue with both designation ? Read More
Can a Whole Time Director of Section 8 Company be appointed CEO of the same company and can continue with both designation ?

Director

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Views (1545)
Posted By: Anubhav srivastava 7 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.

Section 2 - Definitions

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Views (1541)
Posted By: Pooja sehgal mehtani 8 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?

Section 175- Passing of resolution by circulation.

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Views (1541)
Posted By: Tci chemicals india pvt ltd 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.

Section 2 - Definitions

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

Answer

Is it necessary to obtain a valuation report even in case the security is being offered at par value - say issue of redeemable pre Read More
Is it necessary to obtain a valuation report even in case the security is being offered at par value - say issue of redeemable preference capital at par?

Private placement

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Views (1535)
Posted By: K gopalan 9 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?

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

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Views (1532)
Posted By: Latha 10 year(s) ago

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?

Section 46- Certificate of shares.

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Views (1530)
Posted By: Vivek vijay 10 year(s) ago

Answer

Is MR-1 required to be filed even in case of private companies for appointing CS especially in view of recent notification dated 0 Read More
Is MR-1 required to be filed even in case of private companies for appointing CS especially in view of recent notification dated 05-06-2015 granting various exemptions to a Pvt Ltd Company?

Company Secretary

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Views (1528)
Posted By: Kamlesh g pandya 9 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?

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

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

Answer

as per act a Board meeting can be held anywhere in the world, it means we can issue share certificates also at any place wherever Read More
as per act a Board meeting can be held anywhere in the world, it means we can issue share certificates also at any place wherever the Board meeting is held( requirement of common seal being made optional) and also get the financial statements signed at a place outside India if majority of Directors are Foreigners?

Board Meeting

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Views (1526)
Posted By: Anita 9 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

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

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Views (1521)
Posted By: Akansha 10 year(s) ago

Answer

Shall giving and taking of unsecured loan by a public listed company to its associate will attract section 188 of companies act? Read More
Shall giving and taking of unsecured loan by a public listed company to its associate will attract section 188 of companies act? if attracts whther board approval is required in both companies? If company 'a' is associate of company 'b'. a is relative of b as per the definition of related party. My question is whther 'b' is related to 'a' or not? ( related party definition will have any reciprocal effect?)

Implementation of new law

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Views (1521)
Posted By: Priyadarshini 8 year(s) ago

Answer

A foreign body corporate incorporates a company in India as its wholly owned subsidiary. Incase of non-individual subscribers it Read More
A foreign body corporate incorporates a company in India as its wholly owned subsidiary. Incase of non-individual subscribers it is mandatory to attach MOA and AOA apostilled in pdf in Inc-32 Spice. But if the authorised signatory comes down to India for incorporating the company and if he signs in subscriber clause for the body corporate what would be position of "apostillation" can it be locally notarised like other proofs and documents, since no body is available abroad to do all the procedures and he should be present there too to get all done. He is in India with valid business visa. Can anybody help on this. Thanks in advance.

Incorporation

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Views (1516)
Posted By: Akila 7 year(s) ago

Answer

The Paid up capital of one of our unlisted Company is less than Rs. 10 Crore, hence as per the provisions of Section 203 of the Co Read More
The Paid up capital of one of our unlisted Company is less than Rs. 10 Crore, hence as per the provisions of Section 203 of the Companies Act, 2013 not required to appoint KMP. But the Company is having Company Secretary and CEO. In that case do we need to designate them KMP. Please clarify.

KMP

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Views (1516)
Posted By: Rachna gupta singh 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.

Section 185- Loan to directors, etc.

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

Answer

As per Section 403 of the Companies Act, 2013 if a particular form is not filed within the time specified, the same can be filed Read More
As per Section 403 of the Companies Act, 2013 if a particular form is not filed within the time specified, the same can be filed within a period of 270 days with additional fees. However, if the delay in filing is beyond 270 days (including the time limit specified under the relevant provision) than, what is the procedure to be followed and if it leads to filing of condonation of delay , what is the prescribed form in which application is required to be made to the Central Government?

Compliances

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Views (1513)
Posted By: Manoj kumar koyalkar 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.

Section 73- Prohibition on acceptance of deposits from public.

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Views (1512)
Posted By: Ca vinod goyal 9 year(s) ago

Answer

what are the clauses applicable on the private company in concern with board report Read More
what are the clauses applicable on the private company in concern with board report

Company Secretary

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Views (1511)
Posted By: Dharambir singh bisht 9 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?

Section 149- Company to have Board of directors.

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

Answer

Rule 14(2) (a) of Companies (Prospectus and Allotment of Securities) Rules, 2014 provides that A company shall not make a privat Read More
Rule 14(2) (a) of Companies (Prospectus and Allotment of Securities) Rules, 2014 provides that A company shall not make a private placement of its securities unless the proposed offer of securities or invitation to subscribe securities has been previously approved by the shareholders of the company, by a Special Resolution, for each of the Offers or Invitations:Provided that in the explanatory statement annexed to the notice for the general meeting the basis or justification for the price (including premium, if any) at which the offer or invitation is being made shall be disclosedProvided further that in case of offer or invitation for non-convertible debentures, it shall be sufficient if the company passes a previous special resolution only once in a year for all the offers or invitation for such debentures during the year.In the Companies Act 2013 YEAR has not been defined. Further section 2 (95) provides that words and expressions used and not defined in this Act but defined in the Securities Contracts (Regulation) Act, 1956 or the Securities and Exchange Board of India Act, 1992 or the Depositories Act, 1996 shall have the meanings respectively assigned to them in those Acts.The word YEAR has also not been defined in the Securities Contracts (Regulation) Act, 1956 or the Securities and Exchange Board of India Act, 1992 or the Depositories Act, 1996.Considering the above, views are sought if the approval of shareholders under the second proviso to Rule 14(2) (a) of Companies (Prospectus and Allotment of Securities) Rules, 2014 needs to be taken on Financial year (defined in Companies Act 2013) basis or the said approval of shareholders can be taken on AGM to AGM basis or on calendar year basis.:

Private placement

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Views (1509)
Posted By: Manohar balwani 10 year(s) ago

Answer

Want to have a Board Resolution to do intrnet banking. This is to be given to the bank Read More
Want to have a Board Resolution to do intrnet banking. This is to be given to the bank

Board Meeting

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Views (1506)
Posted By: Sandip ghosh 10 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

Section 197- Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits.

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Views (1506)
Posted By: Rishav saraf 8 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?

Section 73- Prohibition on acceptance of deposits from public.

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

Answer

Can a wholly owned subsidiary company buy back its shares from its Holding Company ? Read More
Can a wholly owned subsidiary company buy back its shares from its Holding Company ?

Board of Directors

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Views (1503)
Posted By: Kanika gupta 9 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.

Section 56- Transfer and transmission of securities.

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Views (1498)
Posted By: Latha 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

Section 188- Related party transactions.

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

Answer

Can any one help me with the format of director's declarion regarding paid up capital required for conversion of private company t Read More
Can any one help me with the format of director's declarion regarding paid up capital required for conversion of private company to opc

One Person Company

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

Answer

CAN a Public limited company appoint one person as Managing Director & Chairman of the company? If you - Please provide detail of Read More
CAN a Public limited company appoint one person as Managing Director & Chairman of the company? If you - Please provide detail of legal compliances.

Compliances

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Views (1495)
Posted By: Sunil kumar agrawal 9 year(s) ago

Answer

If auditor has resigned u/s 139(5) of the companies act 2013 and he has failed to file ADT 3, then company can file ADT 1 as it is Read More
If auditor has resigned u/s 139(5) of the companies act 2013 and he has failed to file ADT 3, then company can file ADT 1 as it is the responsibility of the company.

Auditors

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Views (1492)
Posted By: Duttalahiri & co 10 year(s) ago

Answer

a. what shall be the status of the aforesaid advances already lying outstanding for more than 365 day as at 31st March, 2014 as th Read More
a. what shall be the status of the aforesaid advances already lying outstanding for more than 365 day as at 31st March, 2014 as the same were not treated as deposits under the erstwhile Companies Act, 1956? b. The Companies (Acceptance of Deposits) Rules and sections 73 to 76 of the Companies Act, 2013 were made effective from 01.04.2014. Does this mean that only the advances from customers received on or after 01.04.2014 shall be treated as deposits if they cross limit of 365 days, and that the advances received prior to 31.03.2014 shall continue to remain subsisting and are not to be treated as deposits even if they are more than 365 days old? c. Does the Company need to file any form or return to the ROC for the advances from customers lying outstanding for more than 365 days as at 31st March, 2014?

Fund raising

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Views (1492)
Posted By: Anil 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?

Section 96- Annual general meeting.

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

Answer

A COMPANY IS ENGAGED IN TRADING OF GOODS AND HAS TAKEN SECURITY DEPOSIT FROM THE DEALERS TO WHOM IT SUPPLIES GOODS. WHETHER IT IS Read More
A COMPANY IS ENGAGED IN TRADING OF GOODS AND HAS TAKEN SECURITY DEPOSIT FROM THE DEALERS TO WHOM IT SUPPLIES GOODS. WHETHER IT IS EXEMPTED FROM THE DEFINATION OF DEPOSIT OR NOT.

Implementation of new law

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Views (1488)
Posted By: Ravinder 9 year(s) ago

Answer

A private or a public company which does not fall in the prescribed class of companies under Sec 139(2) of co's Act 2013 , can app Read More
A private or a public company which does not fall in the prescribed class of companies under Sec 139(2) of co's Act 2013 , can appoint an auditor firm 3,4 or 5 times for a consective term of five years?

Auditors

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Views (1486)
Posted By: Kanika gupta 10 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

Section 77- Duty to register charges, etc.

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Views (1485)
Posted By: Vivek vijay 11 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

Section 62- Further issue of share capital.

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

Answer

A company is increasing share capital. therefore need to alteration of MOA as well file to ROC Form SH-7.My First question is whet Read More
A company is increasing share capital. therefore need to alteration of MOA as well file to ROC Form SH-7.My First question is whether we have to required special resolution or ordinary resolution. Second Question is that,at the time of uploading SH-7 we have to need attach "Altered MOA" kindly suggest to us whether we have to need altered complete MOA according Companies Act 2013.

Fund raising

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Views (1483)
Posted By: Deepak kumar falodia 9 year(s) ago

Answer

Are provisions of Rule 5(2) of the Companies (Appointment & Remuneration of Managerial Personnel) Rules,2014 applicable to Unliste Read More
Are provisions of Rule 5(2) of the Companies (Appointment & Remuneration of Managerial Personnel) Rules,2014 applicable to Unlisted Companies including Small Companies? Please clarify

Board Meeting

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Views (1483)
Posted By: V. maslekar 9 year(s) ago

Answer

In a Private Company there are 2 Directors, out of which one is minor. Can Minor shareholder attend General Meeting? can he cas Read More
In a Private Company there are 2 Directors, out of which one is minor. Can Minor shareholder attend General Meeting? can he caste vote? will his presence will be counted for ascertaining quorum.?

Shareholders Meeting

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Views (1483)
Posted By: Abhinaya 10 year(s) ago

Answer

what is the maximum and minimum limit of accepting deposit from public and member byall company Read More
what is the maximum and minimum limit of accepting deposit from public and member byall company

Fund raising

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Views (1481)
Posted By: Dheeraj khandelwal 8 year(s) ago

Answer

unsecured loans received from nri in private limited company whether treated as deposits? if yes under what grounds or what are th Read More
unsecured loans received from nri in private limited company whether treated as deposits? if yes under what grounds or what are the criteria to be satisfied.

Fund raising

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Views (1479)
Posted By: R&a associates 9 year(s) ago

Answer

While certifying a resolution to be filed with RoC as an attachment to MGT 14, is it necessary to give the home address of the Dir Read More
While certifying a resolution to be filed with RoC as an attachment to MGT 14, is it necessary to give the home address of the Director certifying the resolution. Is it sufficient if his name, designation and DIN are disclosed.

Board Meeting

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Views (1475)
Posted By: K gopalan 10 year(s) ago

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??

Section 82- Company to report satisfaction of charge.

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

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

Section 71- Debentures.

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Views (1472)
Posted By: Nikita 8 year(s) ago

Answer

Can the statutory auditor also do the Tax audit for the Company Read More
Can the statutory auditor also do the Tax audit for the Company

Auditors

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Views (1467)
Posted By: Arun kumar 10 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

Section 77- Duty to register charges, etc.

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Views (1466)
Posted By: Arpitha 9 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

Section 167- Vacation of office of director.

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Views (1465)
Posted By: Jyoti aggarwal 8 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?

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

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Views (1461)
Posted By: Amardeepduggal 7 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?

Section 185- Loan to directors, etc.

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Views (1460)
Posted By: Ratanshi khatau tanna 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.

Section 92- Annual return.

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Views (1459)
Posted By: Cs ram thakkar 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).

Section 197- Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits.

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Views (1455)
Posted By: Amol kshirsagar 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?

Section 185- Loan to directors, etc.

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Views (1455)
Posted By: Akansha 10 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.

Section 92- Annual return.

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

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?

Section 148- Central Government to specify audit of items of cost in respect of certain companies.

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Views (1449)
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

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

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

Answer

my company is a pvt. ltd. company and has a paid up capital of rs. 163 crores and wants to appoint a company secretary. what all f Read More
my company is a pvt. ltd. company and has a paid up capital of rs. 163 crores and wants to appoint a company secretary. what all forms are to be filed with ROC. does a CS to be appointed falls under KMP?

Company Secretary

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Views (1444)
Posted By: Sunny bajaj 9 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.

Section 13- Alteration of memorandum.

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Views (1438)
Posted By: Jay 10 year(s) ago

Answer

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

Section 129- Financial statement.

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Views (1437)
Posted By: Sandhya 9 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

Section 62- Further issue of share capital.

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

Answer

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

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

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

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?

Section 135- Corporate Social Responsibility.

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Views (1436)
Posted By: Kamdhenu ispat limited 9 year(s) ago

Answer

Dear Sir, at AGM, the shareholders of the company were unable to ratify the appointment of the auditor. the act was Read More
Dear Sir, at AGM, the shareholders of the company were unable to ratify the appointment of the auditor. the act was unintentional. is there any solution available to retain same auditor for the same term?

Auditors

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Views (1434)
Posted By: Bunny sehgal 8 year(s) ago

Answer

company has purchased car for business purpose with bank finance. Is it necessary to file Form CHG 1 creating charge on Car under Read More
company has purchased car for business purpose with bank finance. Is it necessary to file Form CHG 1 creating charge on Car under Companies Act, 2013

Charges

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Views (1433)
Posted By: Kamdhenu ispat limited 9 year(s) ago

Answer

A company didn't received money from his promoter (shares were subscribed in MoA).How to proceed further ? how can we allocate the Read More
A company didn't received money from his promoter (shares were subscribed in MoA).How to proceed further ? how can we allocate these shares to someone else?

Shareholders Meeting

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Views (1433)
Posted By: Arpita 9 year(s) ago

Answer

share application money taken on 29.03.14 by a pvt. ltd. company which is wholly owned subsidiary of a public company.Neither shar Read More
share application money taken on 29.03.14 by a pvt. ltd. company which is wholly owned subsidiary of a public company.Neither share allotted nor amount refunded till date.What to do now.

Fund raising

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Views (1432)
Posted By: Kamlesh 9 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)?

Section 188- Related party transactions.

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Views (1430)
Posted By: Megha 7 year(s) ago

Answer

We have incorporated a company with 5 lacs authorised capital in October 2013 with 2 individuals as subscribers to MOA. One indiv Read More
We have incorporated a company with 5 lacs authorised capital in October 2013 with 2 individuals as subscribers to MOA. One individual is Indian resident subscribed for 1 share and the other is a foreign national [who is staying in india for the past 4years] who subscribed for 499 shares of rs.1000 each. Later, the parent company remitted 483000 towards share applicaation money and were allotted 483 shares. Authorised capital increased to 10 lacs also. 1 share is allotted to indian resident on receipt of money but no shares are allotted to foreign national. The FC GPR is filed with RBI. Now RBI is asking why the company has not allotted shares to foreign national when he agreed to subscribe for 499 shares in MOA? My question is it compulsory for company to allot shares to the subscribers to MOA before alloting to external investors. What section in companies act provides this? Company has closed its financial year ending 31st March 2013 and filed Annual compliances with ROC. Kindly suggest

RBI

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Views (1429)
Posted By: Aravind 9 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.....

Section 2 - Definitions

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Views (1428)
Posted By: Dipika 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?

Section 12- Registered office of company.

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

Answer

my query is what are the roc compliance of annual filing for private limited companies.give me list of forms which we have to file Read More
my query is what are the roc compliance of annual filing for private limited companies.give me list of forms which we have to file this year and the due date of them, give me complete detail.

Compliances

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Views (1425)
Posted By: Harpreet 9 year(s) ago

Answer

In Case of Appointment of Director as an Managing Director, Do a company need to file DIR-12. Read More
In Case of Appointment of Director as an Managing Director, Do a company need to file DIR-12.

Director

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Views (1425)
Posted By: Jaya bhatia 8 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.

Section 185- Loan to directors, etc.

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Views (1424)
Posted By: Ekta shah 9 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

Section 2 - Definitions

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Views (1423)
Posted By: Vivek vijay 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.

Section 188- Related party transactions.

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Views (1420)
Posted By: Khushboo 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

Section 56- Transfer and transmission of securities.

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Views (1419)
Posted By: Deepak gulati 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 ?

Section 13- Alteration of memorandum.

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Views (1419)
Posted By: Arun rajabhau joshi 7 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?

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

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

Answer

How is the Audit committee, nomination and remuneration committee & stake holder's relationship committee reconstituted? Will thei Read More
How is the Audit committee, nomination and remuneration committee & stake holder's relationship committee reconstituted? Will their reconstitution be shown as a ordinary or special resolution in the Annual report?

Implementation of new law

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Views (1417)
Posted By: Rajesh agrawal 10 year(s) ago

Answer

If independent director incurred disqualification, then what will be the impact on Director as well as on Company? What will be th Read More
If independent director incurred disqualification, then what will be the impact on Director as well as on Company? What will be the procedure of conversion from ID to normal non executive director? Is there requirement of filing of any eform with the ROC or any other authorities?

Independent Director

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Views (1414)
Posted By: Amod kumar jha 8 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

Section 13- Alteration of memorandum.

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Views (1413)
Posted By: Prekshi gupta 10 year(s) ago

Answer

Is it necessary to execute an agreement for the appointment of Managing Director in a listed company?If yes, whether the same is r Read More
Is it necessary to execute an agreement for the appointment of Managing Director in a listed company?If yes, whether the same is required to be printed on a stamp paper?

Board of Directors

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Views (1410)
Posted By: Rajesh agrawal 9 year(s) ago

Answer

Whether SEBI Registration is Compulsory, if no. of members exceeds 200 in producer Company Read More
Whether SEBI Registration is Compulsory, if no. of members exceeds 200 in producer Company

SEBI

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Views (1410)
Posted By: Arun rajabhau joshi 8 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.

Section 185- Loan to directors, etc.

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Views (1409)
Posted By: Sandhya 9 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??

Section 56- Transfer and transmission of securities.

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Views (1407)
Posted By: Akjain 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?

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

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

Answer

Our client is a pvt Ltd company having paid up capital of more than 10 crores. They have two corporate shareholders A&B) incorpo Read More
Our client is a pvt Ltd company having paid up capital of more than 10 crores. They have two corporate shareholders A&B) incorporated outside India ( Japan). A holds more than 95%; B holds less than 1%. The company has got three directors of which two directors ( Non-executive directors in India) are common with A&B. B is subsidiary of A. The company has got transactions with A in respect of sale, purchase and rendering of services. In view of this, could you pl clarify the following a) whether sec 2 (76) (vi) is applicable b) whether Sec 2(76)(viii) is applicable as it talks about company c) whether A ( holding company ) can pass a special resolution in respect of transactions with wholly owned subsidiary d) whether sec 188 is attracted?

Director

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Views (1406)
Posted By: Balachandran 10 year(s) ago

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

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

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Views (1404)
Posted By: Vivek vijay 11 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

Section 117- Resolutions and agreements to be filed.

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Views (1404)
Posted By: Dindayal dhandaria 9 year(s) ago

Answer

CARO applicability : A pvt co has paid up capital of Rs. 10 lacs and reserve of Rs. 50 lacs. Turnover -Rs. 1 crore. Hence CARO has Read More
CARO applicability : A pvt co has paid up capital of Rs. 10 lacs and reserve of Rs. 50 lacs. Turnover -Rs. 1 crore. Hence CARO has been applicable for last many years on the basis of paid up & reserves more than Rs. 50 lacs. This year it also becomes a small company under the Companies Act, 2013 as paid up is less than Rs. 50 lacs. Will CARO continue to be applicable this year as well ?

Auditors

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Views (1403)
Posted By: Manouj agrawaal, fca, partner 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

Section 77- Duty to register charges, etc.

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

Answer

The Company has passed resolution u/s. 180(1)(a) wherein limit also been specified which exceeded paiup capital and free reserve w Read More
The Company has passed resolution u/s. 180(1)(a) wherein limit also been specified which exceeded paiup capital and free reserve whether still it is require to pass the special resolution u/s. 180(1)(c) in case of Private Limited Company

Fund raising

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Views (1398)
Posted By: Himanshu 9 year(s) ago

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.

Section 403- Fee for filing, etc.

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Views (1398)
Posted By: Ravi 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.

Section 149- Company to have Board of directors.

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

Answer

Has the MCA given any time frame for amendment of Articles of association in line with Companies Act, 2013. If yes, please indicat Read More
Has the MCA given any time frame for amendment of Articles of association in line with Companies Act, 2013. If yes, please indicate the relevant circular

Implementation of new law

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Views (1397)
Posted By: Arun kumar 10 year(s) ago

Answer

if a Non-Banking Financial Company Wants to provide loan to domestic Company what would be its procedure?And what Sections would b Read More
if a Non-Banking Financial Company Wants to provide loan to domestic Company what would be its procedure?And what Sections would be attracted?

Compliances

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Views (1396)
Posted By: Kejal shah 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

Section 179- Powers of Board.

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

Answer

Statutory audit of FY2013-2014 will be done as per Old Act or New Act? Read More
Statutory audit of FY2013-2014 will be done as per Old Act or New Act?

Chartered Accountant

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Views (1395)
Posted By: Shekhar 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,

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

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

Answer

Hi, Please advise, the maximum amount which can be paid to the executive directors in case of loss making private company. Than Read More
Hi, Please advise, the maximum amount which can be paid to the executive directors in case of loss making private company. Thanks

Remuneration to KMP

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Views (1390)
Posted By: Nidhi goel 9 year(s) ago

Answer

my company is a pvt. ltd. company and has a paid up capital of rs. 163 crores and wants to appoint a company secretary. what all f Read More
my company is a pvt. ltd. company and has a paid up capital of rs. 163 crores and wants to appoint a company secretary. what all forms are to be filed with ROC. does a CS to be appointed falls under KMP?

Company Secretary

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Views (1390)
Posted By: Sunny bajaj 9 year(s) ago

Answer

Please clarify - Is a private limited company required to file Charge to ROC/MCA on CAR LOAN? Read More
Please clarify - Is a private limited company required to file Charge to ROC/MCA on CAR LOAN?

Charges

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Views (1389)
Posted By: Sunil kumar agrawal 9 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,

Section 92- Annual return.

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Views (1386)
Posted By: Arpita 9 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

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

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

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 ??

Section 396- Registration offices.

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Views (1384)
Posted By: V. ramkumar 9 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.

Section 188- Related party transactions.

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Views (1384)
Posted By: Arun kumar 10 year(s) ago

Answer

Dir – 2 is the format of consent for appointment as Director. Is there a separate format of Consent for appointment of Managing D Read More
Dir – 2 is the format of consent for appointment as Director. Is there a separate format of Consent for appointment of Managing Director

Director

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Views (1383)
Posted By: Arun kumar 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

Section 185- Loan to directors, etc.

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

Answer

An un-listed public Company covered under the qualifying criteria for appointment of KMP has full time MD, GM(F&A) and CS as on 01 Read More
An un-listed public Company covered under the qualifying criteria for appointment of KMP has full time MD, GM(F&A) and CS as on 01/04/2014. The required forms for their appointment under the old Act have been filed at relevannt time. Whether the Company is required to appoint again the KMPs and file the forms. What is the procedure to be followed in this regard by such a Company.

KMP

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Views (1381)
Posted By: Ketan antani 10 year(s) ago

Answer

While calculating networth of a company should is Subsidy received from Govt. to be included ? Read More
While calculating networth of a company should is Subsidy received from Govt. to be included ?

Definitions

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Views (1380)
Posted By: Pranay patel 7 year(s) ago

Answer

Can a company secretary of a holding company act as a KMP of its subsidiary companies. In this case, the subsidiary companies are Read More
Can a company secretary of a holding company act as a KMP of its subsidiary companies. In this case, the subsidiary companies are only Special Purpose Vehicles incorporated for the purpose of performing a specific project.

KMP

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Views (1379)
Posted By: Madhu 10 year(s) ago

Answer

A listed public company has passed resolution in Sept. 2010 for re-appointment of Managing Director for 5 years i.e (Sept. 2010 to Read More
A listed public company has passed resolution in Sept. 2010 for re-appointment of Managing Director for 5 years i.e (Sept. 2010 to Sept. 2015) & their remuneration in Remuneration Committee, Board Meeting & Shareholders Meeting under the Companies Act, 1956. The Co. has obtained MCA approval for remuneration payment (5% of Profits) to MD year 2013-14 due to inadequate Profits. The Company has inadequate Profits in current year 2014-15 and required MCA approval. The Co. has not passed any resolution in Remuneration Committee, Board Meeting & Shareholders Meeting under the Companies Act, 2013 during the Year 2014-15. As per MCA Circular 32/2014 dated 23.07.2014 – Clarification on transitional period for resolutions passed under the Companies Act, 1956. It is clarified that resolutions approved or passed by companies under relevant applicable provisions of the old act during the period from 01st Sept, 2013 to 31st March 2014 can be implemented in accordance with provisions of old act, notwithstanding the repeal of the relevant provisions subject to the conditions a) That the implementation of the resolution actually commenced before 01st April, 2014 and b) That this transitional arrangement will be available upto expiry of one year from the passing of the resolution or 6 months from the commencement of the corresponding provision in new Act whichever is later. Now what are the options available to the company: 1. Apply to MCA for their approval on the basis of resolutions passed under the Old Act – The Companies act, 1956. Or 2. The company pass related resolutions in next AGM -2015 and apply to MCA after passing of resolutions for waiver of remuneration payment made to MD during the year 2014-15.

Remuneration to KMP

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Views (1378)
Posted By: Sunil kumar agrawal 10 year(s) ago

Answer

A compnay incorporated outside India having branch at India...In this case what are the Forms are to be filed with ROC Read More
A compnay incorporated outside India having branch at India...In this case what are the Forms are to be filed with ROC

Foreign Company

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Views (1377)
Posted By: Palani kumar b 10 year(s) ago

Answer

Will Transaction between a Private Ltd Company and a Public Limited company where one person is a director in both the company be Read More
Will Transaction between a Private Ltd Company and a Public Limited company where one person is a director in both the company be a Related Party transaction. And if the above mentioned Private Ltd company does a transaction with the subsidiary of the above mentioned Public Limited Company will it amount to a Related Party Transaction. Kindly clarify.

Director

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Views (1376)
Posted By: Divakaran suresh 8 year(s) ago

Answer

A listed company was filing the return in XBRL mode. The Company is delisted now. Should it continue to file in XBRL Format? Read More
A listed company was filing the return in XBRL mode. The Company is delisted now. Should it continue to file in XBRL Format?

Accounts

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Views (1375)
Posted By: Divakaran suresh 8 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 ?

Section 14- Alteration of articles.

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Views (1373)
Posted By: Sandhya 10 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............???

Section 149- Company to have Board of directors.

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Views (1373)
Posted By: Mahesh shenoy 9 year(s) ago

Answer

Rule 2f of the CSR Rules, 2014 provides meaning of the net profit of a company as per its financial statement prepared in accordan Read More
Rule 2f of the CSR Rules, 2014 provides meaning of the net profit of a company as per its financial statement prepared in accordance with the applicable provisions of the Act, but shall not include the following, namely:— ii any dividend received from other companies in India, which are covered under and complying with the provisions of section 135 of the Act: Here I wish to know that any dividend received would be deducted from profit before tax or dividend is to be deducted of only those declaring cos which are covered under Section 135 of the Act. If yes to second option, whether disclosure of reason in Directors Report of not complying CSR liability shall be considered as compliance for the purpose of these rules.

CSR

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Views (1370)
Posted By: Rakesh jain 9 year(s) ago

Answer

Is it necessary to re-write entire Statutory Register again under New Act, 2013 from the date of incorporation or we have write re Read More
Is it necessary to re-write entire Statutory Register again under New Act, 2013 from the date of incorporation or we have write register in new format from the date of applicability of new act.

Compliances

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Views (1369)
Posted By: Vijay oganiya 9 year(s) ago

Answer

If a foriegn Company is holding shares in a Listed company and if it wants to transfer the shares to the resident company, what wi Read More
If a foriegn Company is holding shares in a Listed company and if it wants to transfer the shares to the resident company, what will be the procedure to do the same?

Compliances

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Views (1369)
Posted By: Ravi kiran 9 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.

Section 139- Appointment of auditors.

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

Answer

A private or a public company which does not fall in the prescribed class of companies under Sec 139(2) of co's Act 2013 , can app Read More
A private or a public company which does not fall in the prescribed class of companies under Sec 139(2) of co's Act 2013 , can appoint an auditor firm 3,4 or 5 times for a consective term of five years?

Auditors

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Views (1369)
Posted By: Kanika gupta 10 year(s) ago

Answer

ompany is in urgent need of funds & Director is introducing the fund out of his owned capital with an intention to convert it int Read More
ompany is in urgent need of funds & Director is introducing the fund out of his owned capital with an intention to convert it into equity at a later stage. Is any action required at the time of receiving the loan? Is there any minimum period for conversion of it ? What are the terms & Conditions to be decided? What are the steps to be taken at the time of allotment of share? Kindly give a note on this issue (which covers all aspects of the transaction) so that same can be guided to the company.

Fund raising

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Views (1367)
Posted By: Gurpreet kaur 10 year(s) ago

Answer

We are a private limited company. We intend to appoint an executive director. What are the documents to be attached along with D Read More
We are a private limited company. We intend to appoint an executive director. What are the documents to be attached along with DIR-12. Do we need to file appointment letter along with DIR 12 as section 190 is not applicable to private limited company.

Director

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Views (1367)
Posted By: Tci chemicals india pvt ltd 10 year(s) ago

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

Section 12- Registered office of company.

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

Answer

In continuation of my query on appointment of Director and disclosure of interest as replied by Ankit, it means we hv to take the Read More
In continuation of my query on appointment of Director and disclosure of interest as replied by Ankit, it means we hv to take the disclosure in the appointment meeting itself which ultimately means the proposed director must be invited to attend the meeting as Director after appointment and after the meeting Form DIR-12 as well as Form MGT-14 should be filed simultaneously in case of new appointments.And clients should be informed that like resignation appointment of director also requires filing of two forms within 30 days of appointment.

Director

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Views (1365)
Posted By: Anita 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 ?

Section 13- Alteration of memorandum.

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Views (1361)
Posted By: Ankit agarwal 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.

Section 129- Financial statement.

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Views (1361)
Posted By: Radha 10 year(s) ago

Answer

Mr. A is an MD in the Holding Company and Subsidiary Company. But Mr. A is getting managerial remuneration from Holding Company. H Read More
Mr. A is an MD in the Holding Company and Subsidiary Company. But Mr. A is getting managerial remuneration from Holding Company. He is not getting anything from Subsidiary Company except for sitting fees. He now intends to get salary from Subsidiary Company also. Going forward, Mr. A is getting the maximum salary from Holding Company in terms of Section V of Part II of Schedule V of the Companies Act, 2013. Can he still be paid salary from Subsidiary Company by filing an application with the Central Government. Please advise.

Remuneration to KMP

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Views (1358)
Posted By: Anil 9 year(s) ago

Answer

We are pvt limited company operating from SEZ with share capital less than 20 crores. We will be appointing an executive director Read More
We are pvt limited company operating from SEZ with share capital less than 20 crores. We will be appointing an executive director shortly. In this connection, could you pl clarify the following: a) whether sec 196 is applicable for us b) whether sec 197 is applicable for us? c) do we need to file MR-1? d) Any other form that will be required to be filed in this regard apart from DIR-12 either on a monthly/quarterly/annual basis?

Director

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Views (1357)
Posted By: Tci chemicals india pvt ltd 10 year(s) ago

Answer

KIndly help out with the process of allotment for consideration other than cash Read More
KIndly help out with the process of allotment for consideration other than cash

Fund raising

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Views (1356)
Posted By: T.r.chadha & co. 8 year(s) ago

Answer

Every director is required to made disclosure in the first board meeting of the financial year but what about the directors who ar Read More
Every director is required to made disclosure in the first board meeting of the financial year but what about the directors who are not in India. Can they send the form MBP-1 via mail scan copy or courier or fax or they should place it in the meeting they attend later on.

Disclosures

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Views (1353)
Posted By: Anita 10 year(s) ago

Answer

Can LLP be converted into a Co. and vice versa? Read More
Can LLP be converted into a Co. and vice versa?

Chartered Accountant

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Views (1353)
Posted By: Chnadravijayshah 9 year(s) ago

Answer

whether filing of MBP 1 with ROC is required in case of PVT Ltd Company Read More
whether filing of MBP 1 with ROC is required in case of PVT Ltd Company

Board Meeting

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Views (1350)
Posted By: Purushottam lal agrawal 9 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

Section 179- Powers of Board.

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

Answer

A listed company has 4 directors. Of this, 3 directors are independent directors and the other is the Managing Director. As per th Read More
A listed company has 4 directors. Of this, 3 directors are independent directors and the other is the Managing Director. As per the Companies Act 2013, independent directors shall not be liable to retire by rotation. Hence in this case, the Managing Director has to be made rotational director and the 3 independent directors should be appointed for 5 years. Am i right?

Board of Directors

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Views (1350)
Posted By: Arun kumar 10 year(s) ago

Answer

Can an Authorised Representative appointed to attain the General Meeting, appoint proxy on his behalf? Read More
Can an Authorised Representative appointed to attain the General Meeting, appoint proxy on his behalf?

Shareholders Meeting

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Views (1348)
Posted By: Kishore p shah 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

Section 73- Prohibition on acceptance of deposits from public.

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Views (1347)
Posted By: Rishav saraf 9 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?

Section 188- Related party transactions.

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

Section 184- Disclosure of interest by director.

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Views (1345)
Posted By: Deepak gulati 10 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.

Section 179- Powers of Board.

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Views (1343)
Posted By: Mukund govindharajan 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?

Section 173- Meetings of Board.

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Views (1343)
Posted By: Sampath 11 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?

Section 12- Registered office of company.

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

Answer

SHARE TRANSFER - Share Transfer Deed exceuted in 2000 by transferor & Tranferee. The shares was delisted from Stock Exchange for 7 Read More
SHARE TRANSFER - Share Transfer Deed exceuted in 2000 by transferor & Tranferee. The shares was delisted from Stock Exchange for 7-8 years. Now the company again listed with stock exchange. The Transfer deed executed in 2000 is valid OR not now for Transfer of Shares. As per the Companies Act, 2013 Transfer deed is not required to authenticate by ROC. The MCA has clarified regarding transfer of shares and validity of transfer deed vide Circular No. 19/2014 dated 12.06.2014. Presently, SH 4 is not required to authenticate by ROC. Pls. clarify FORM 7B executed in 2000 will be required re-validate by ROC. OR the company will accept the same FORM 7B for transfer of shares.

Compliances

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Views (1338)
Posted By: Sunil kumar agrawal 9 year(s) ago

Answer

A PRIVATE LIMITED COMPANY WITH PAID UP CAPITAL OF RUPEES 9.5 CRORES IS A SUBSIDIARY OF A PUBLIC LIMITED COMPANY WITH PAID UP CAPIT Read More
A PRIVATE LIMITED COMPANY WITH PAID UP CAPITAL OF RUPEES 9.5 CRORES IS A SUBSIDIARY OF A PUBLIC LIMITED COMPANY WITH PAID UP CAPITAL OF RUPEES 12.00 CRORES. WHETHER PRIVATE COMPANY IS REQUIRED TO APPOINT MD, CFO AND INDEPENDENT DIRECTOR.

KMP

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Views (1335)
Posted By: Ravinder 8 year(s) ago

Answer

Dear sir, can a company keep its books and papers other than registered office of the company? Read More
Dear sir, can a company keep its books and papers other than registered office of the company?

Compliances

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Views (1332)
Posted By: Bunny sehgal 8 year(s) ago

Answer

As per sec.184, after appointment as Director, The said person is required to disclose his interest in Form MBP-1 in the first me Read More
As per sec.184, after appointment as Director, The said person is required to disclose his interest in Form MBP-1 in the first meeting he attends as Director. But The Form DIR-12 is required to be filed within 30 day of appointment of Director and one of the Mandatory point of DIR-12 is Interest in other entities.My query is regarding this contradiction only. How a company will fill up this information if the disclosure will be made by the director in the next meeting or only the interest in other entities as Director is required to be fillup here as the same is available in the consent form(DIR-2). If that is the case then the heading should be Directorship in other companies instead of interest in other entities. Can anybody explain?

Director

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Views (1332)
Posted By: Anita 10 year(s) ago

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.

Section 204- Secretarial Audit for bigger companies.

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Views (1328)
Posted By: Divya 10 year(s) ago

Answer

Could you pl clarify the following in respect of remuneration payable to an Executive Director for a Private limited company? a) W Read More
Could you pl clarify the following in respect of remuneration payable to an Executive Director for a Private limited company? a) Whether remuneration details approved by Board needs to be filed with ROC? if not required, whether variation in terms of appointment to be filed with ROC? b) If remuneration details needs to be filed, can filing be done based on the terms approved by Board? what form needs to be filled in this regard? c) Whether remuneration also needs to be approved by Shareholders?

Director

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Views (1327)
Posted By: Tci chemicals india pvt ltd 10 year(s) ago

Answer

Hi, Is it mandatory to have policy for extending loan/ advances to employees and salary advance in case of private ltd. company. Read More
Hi, Is it mandatory to have policy for extending loan/ advances to employees and salary advance in case of private ltd. company.

Compliances

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Views (1323)
Posted By: Nidhi goel 9 year(s) ago

Answer

A Private Limited Company has approved the following Special Resolutions in a Single EGM: 1. Consolidation of Nominal value of Equ Read More
A Private Limited Company has approved the following Special Resolutions in a Single EGM: 1. Consolidation of Nominal value of Equity Share from Rs.10/- per share to Rs.100/- per share. 2. The Meeting has also approved Increase in Authorized Share Capital. Does the Company required to submit 2 Separate E form SH-7- One for Consolidation and another for Increase in Authorized Capital? The MCA system does not permit simultaneous filing the particulars in single form. Please clarify.

Fund raising

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Views (1323)
Posted By: V. maslekar 8 year(s) ago

Answer

Hi I have a query about directors salary in a private limited company. 1) Is there any limit on Director Salary in a Private Read More
Hi I have a query about directors salary in a private limited company. 1) Is there any limit on Director Salary in a Private limited company by Companies act? or any amount of salary we could pay to Directors. 2.) Whether it is necessary to pay salary to all the directors in a Private limited company ?

Director

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Views (1322)
Posted By: Jai bhagchandani 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?

Section 42 - Issue of shares on private placement basis.

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Views (1320)
Posted By: Amardeepduggal 7 year(s) ago

Answer

Whether agenda relating to appointment or reappointment of auditor needs to be taken up in Annual General Meeting? Read More
Whether agenda relating to appointment or reappointment of auditor needs to be taken up in Annual General Meeting?

Auditors

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Views (1318)
Posted By: Gurpreet kaur 6 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.

Section 455- Dormant company.

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Views (1318)
Posted By: Harpreet 9 year(s) ago

Answer

There are two group companies hving all the three common directors, one is a limited closely held co and the other one is private. Read More
There are two group companies hving all the three common directors, one is a limited closely held co and the other one is private. Both the companies entered into a demerger scheme and the scheme has been approved by the high court.As per the scheme all the employees of the limited companies will be transferred to the private co. Do the word employees includes the all three whole time directors of the ltd. co. If yes, do we need to change the designation of the WTD to normal Directors in limited co and if yes which form is required to be filed, only DIR-12 for change in designation. When we start paying salary to the Directors from the private co in place of the limited co., do we need to file any form with ROC for that?

Director

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Views (1316)
Posted By: Anita 10 year(s) ago

Answer

In continuation to my earlier question do we require to file two Form GNL-2 as the form accept only one document (PAS-4 orPAS-5)at Read More
In continuation to my earlier question do we require to file two Form GNL-2 as the form accept only one document (PAS-4 orPAS-5)at a time or it is sufficient to file PAS-5 with PAS-3 form after allotment.

Private placement

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Views (1316)
Posted By: Anita 10 year(s) ago

Answer

In a pvt . ltd company both the directors are my relatives and I hold more than 2% holding in the company. Can I become a director Read More
In a pvt . ltd company both the directors are my relatives and I hold more than 2% holding in the company. Can I become a director of the company by passing resolution approved by my relative director, if not whats the process for same.

Director

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Views (1315)
Posted By: Tanu 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?

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

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Views (1315)
Posted By: Sanket 7 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.

Section 117- Resolutions and agreements to be filed.

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Views (1313)
Posted By: Latha 10 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.

Section 152- Appointment of directors.

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Views (1309)
Posted By: K k arora 9 year(s) ago

Answer

A Private Limited Company Subsidiary of a Foreign Corporate Body, has purchased goods valued Rs.100 lacs and is unable to pay the Read More
A Private Limited Company Subsidiary of a Foreign Corporate Body, has purchased goods valued Rs.100 lacs and is unable to pay the amounts Due. Now it wants to treat the same as Working Capital Loan with mutually agreed terms of repayment. Is this arrangement permitted under CA,2013?

Fund raising

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Views (1309)
Posted By: V. maslekar 9 year(s) ago

Answer

Could you please suggest me the e-form to be filed with RoC for condonation of delay of filing board resolution u/s 179 beyond 300 Read More
Could you please suggest me the e-form to be filed with RoC for condonation of delay of filing board resolution u/s 179 beyond 300 days.

Board Meeting

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Views (1305)
Posted By: Sandhya 9 year(s) ago

Answer

Can a director of a pvt company provide security against loan taken by the company from any bank? Read More
Can a director of a pvt company provide security against loan taken by the company from any bank?

Director

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Views (1304)
Posted By: Kamal 9 year(s) ago

Answer

In reference to raising capital in nature of unsecured compulsorily Convertible deb to be issued to 100% holding company outside I Read More
In reference to raising capital in nature of unsecured compulsorily Convertible deb to be issued to 100% holding company outside India, what is the tenure (max & Min) to issue and also the interest rate? Kindly also give reference to corresponding Section of the Act?

Fund raising

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Views (1302)
Posted By: Devesh k shah 10 year(s) ago

Answer

A pvt ltd company has appointed a person of more than 21 yrs but less than 70 yrs as WTD in the Board meeting with effect from 1st Read More
A pvt ltd company has appointed a person of more than 21 yrs but less than 70 yrs as WTD in the Board meeting with effect from 1st July 2014. Form MR1 was filed thereafter within 60 days. The company is at present seeking shareholders approval with respect to the same by way of ordinary resolution. Should the company again file MR1 subsequent to the approval by shareholders?. If yes, what will be the effective date of appointment?. I presume that the fees for MR1 is calculated with reference to the effective date of appointment.

KMP

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Views (1301)
Posted By: Latha 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.

Section 152- Appointment of directors.

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

Answer

Validity of appointment of Managing Director- One Public Limited Unlisted company has re-appointed its Managing Director for 3 yea Read More
Validity of appointment of Managing Director- One Public Limited Unlisted company has re-appointed its Managing Director for 3 years in September 2013. The appointment is valid upto August, 2016 as per The Companies Act, 1956. Is re-appointment of Managing Director valid upto August, 2016 under The Companies Act, 2013. What are the compliances need to comply under The Companies Act, 2013 for validity of re-appointment of Managing Director upto August, 2016. Please Clarify.

KMP

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Views (1297)
Posted By: Sunil kumar agrawal 9 year(s) ago

Answer

A Public Limited unlisted company has appointed Managing Director, Joint Managing Director (WTD) & Executive Director (WTD). The M Read More
A Public Limited unlisted company has appointed Managing Director, Joint Managing Director (WTD) & Executive Director (WTD). The Managing Director, Joint Managing Director (WTD) & Executive Director (WTD) may be retired by rotation or not as per the Companies Act, 2013. Please clarify.

Director

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Views (1297)
Posted By: Sunil kumar agrawal 9 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.

Section 56- Transfer and transmission of securities.

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

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?

Section 136- Right of member to copies of audited financial statement.

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Views (1294)
Posted By: Anita 9 year(s) ago

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.

Section 192- Restriction on non-cash transactions involving directors.

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Views (1294)
Posted By: Sandeep gandhi 8 year(s) ago

Answer

Please clarify - Can a public limited company restrict to transfer of shares? In case of any shareholder of the company desire to Read More
Please clarify - Can a public limited company restrict to transfer of shares? In case of any shareholder of the company desire to transfer of shares, first offer to existing shareholders. This clause may be inserted in AOA - Transfer of Shares.

Compliances

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Views (1293)
Posted By: Sunil kumar agrawal 9 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

Section 149- Company to have Board of directors.

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

Answer

A Company has alloted shares on 31-03-2013 but not filed form No-2 as per Co.Act1956.Now they want to file the return of allotemen Read More
A Company has alloted shares on 31-03-2013 but not filed form No-2 as per Co.Act1956.Now they want to file the return of allotement belately w.e.f. 31-03-2013.Kinldy let us know the preocedure.

Fund raising

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Views (1289)
Posted By: Ca vinod goyal 9 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?

Section 77- Duty to register charges, etc.

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Views (1288)
Posted By: Deepthi 7 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.

Section 185- Loan to directors, etc.

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

Answer

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

Section 186- Loan and investment by company.

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Views (1285)
Posted By: Radhey 9 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

Section 149- Company to have Board of directors.

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

Answer

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

Section 185- Loan to directors, etc.

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Views (1283)
Posted By: Aditi verma 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

Section 204- Secretarial Audit for bigger companies.

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Views (1282)
Posted By: Sanjeev 9 year(s) ago

Answer

What about the loans to WOS given after section 185 notification but before the notification of rules giving exemption to WOS loan Read More
What about the loans to WOS given after section 185 notification but before the notification of rules giving exemption to WOS loans. if loans are given during the interim period whether they will also be considered exempt or not?

Director

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Views (1280)
Posted By: Laqshya 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?

Section 196- Appointment of managing director, whole-time director or manager.

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Views (1278)
Posted By: Latha 9 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.

Section 152- Appointment of directors.

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Views (1275)
Posted By: Soumendra das 9 year(s) ago

Answer

What is the date of commencement of the New Companies Act, 2013? Read More
What is the date of commencement of the New Companies Act, 2013?

Compliances

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Views (1270)
Posted By: Bharat 10 year(s) ago

Answer

Whether 98 sections notified on 12.09.2013 has to be considered while issuing Compliance Certificate u/s 383A for the year ended o Read More
Whether 98 sections notified on 12.09.2013 has to be considered while issuing Compliance Certificate u/s 383A for the year ended on 31.03.2014? and If Yes, Please provide me the list of sections required to be considered while preparing that Compliance Certificate.

Compliances

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Views (1267)
Posted By: Dhavneesh gupta 10 year(s) ago

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 ?

Section 168- Resignation of director.

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

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.?

Section 101- Notice of meeting.

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Views (1265)
Posted By: Kanika gupta 10 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?

Section 203- Appointment of key managerial personnel.

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Views (1265)
Posted By: Priyadarshini 7 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?

Section 173- Meetings of Board.

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Views (1264)
Posted By: Anamika 10 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?

Fund raising

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Views (1264)
Posted By: Arun kumar 10 year(s) ago

Answer

WHAT IS THE NEW PROCEDURE TO INCREASE THE AUTHORISED SHARE CAPITAL OF A PRIVATE LIMITED Read More
WHAT IS THE NEW PROCEDURE TO INCREASE THE AUTHORISED SHARE CAPITAL OF A PRIVATE LIMITED

Compliances

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Views (1264)
Posted By: Rajeesh kumar c 10 year(s) ago

Answer

Can Company held Board Meeting and Committee Meeting in a same day in different time, i.e. Board Meeting - 11.00 a.m. to 1.00 Read More
Can Company held Board Meeting and Committee Meeting in a same day in different time, i.e. Board Meeting - 11.00 a.m. to 1.00 p.m. & Committee Meeting - 3.00 p.m. to 5.00 p.m.?

Board Meeting

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Views (1263)
Posted By: Sanjay sharma 9 year(s) ago

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.

Section 75- Damages for fraud.

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

Answer

Annual filings for the F Y ended 31.03.2016 has already been done prior to its conversion Company into LLP. The company has been c Read More
Annual filings for the F Y ended 31.03.2016 has already been done prior to its conversion Company into LLP. The company has been converted into LLP on 01.12.2016. Now our question is whether Company need to make any filing for the period prior to its conversion into LLP i. e. for the period 01.04.16 to 30.11.16 and if yes, how it will be possible as there does not exist any signatory on MCA portal for the Company after its conversion into LLP.

Accounts

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Views (1263)
Posted By: K g kogata 7 year(s) ago

Answer

One Director of Private Limited Company has failed to file DIN 3 as provided in old Companies Act, 1956 what he has to do now? Read More
One Director of Private Limited Company has failed to file DIN 3 as provided in old Companies Act, 1956 what he has to do now?

Director

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Views (1261)
Posted By: Arjun pitti 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

Section 188- Related party transactions.

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

Answer

For closely held Private Limited co. to be incorporate as per Co-Act 2013, whether Articles can provide that Director should no Read More
For closely held Private Limited co. to be incorporate as per Co-Act 2013, whether Articles can provide that Director should not retire by rotation ?

Director

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Views (1258)
Posted By: Debabrata 9 year(s) ago

Answer

1. What is the effective date of notifications dated 5/6/2015. 2. As per notification giving exemptions to sec.8 companies, quorum Read More
1. What is the effective date of notifications dated 5/6/2015. 2. As per notification giving exemptions to sec.8 companies, quorum for board is reduced. If the AOA specifies "that subject to the provisionjs of S.174 of CA 2013, the quorum for board shall be 1/3rd of the strength of the board or three whichever is more, do we need to amend the AOA to change the quorum to the new 'lesser of 8 members or 25% of the strength of the board'.

Board Meeting

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Views (1258)
Posted By: Sridhar 9 year(s) ago

Answer

I LEFT A COMPANY IN THE MONTH OF APRIL 2008 AND AT PRESENT I AM WORKING AS A PRACTICING COMPANY SECRETARY. THE COMPANY HAS NOT FIL Read More
I LEFT A COMPANY IN THE MONTH OF APRIL 2008 AND AT PRESENT I AM WORKING AS A PRACTICING COMPANY SECRETARY. THE COMPANY HAS NOT FILED FORM 32 OF MY CESSATION AND MY NAME IS APPEARING IN THE LIST OF SIGNATORIES ON MCA MASTER DATA. THE COMPANY HAS NOT FILED ANNUAL RETURN FROM THE YEAR 2007 TO 2015. ROC HAS LAUNCHED A PROSECUTION IN THE COURT AND I HAVE ALSO BEEN ARRAYED AS AN ACCUSED. NOW, PLEASE ADVISE ON FOLLOWING- 1. HOW MY NAME WILL BE REMOVED FROM MCA MASTER DATA AS I AM IN PRACTICE AND FORM 32/DIR-12 CAN NOT BE FILED. 2. HOW CAN I DEFEND MYSELF IN THE COURT.

KMP

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Views (1258)
Posted By: Ravinder 8 year(s) ago

Answer

In case a Listed Company is already having a MD and CS on whole time basis as on 01-04-2014, is it required to designate them as K Read More
In case a Listed Company is already having a MD and CS on whole time basis as on 01-04-2014, is it required to designate them as KMPs and file requisite returns with ROC.

KMP

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Views (1257)
Posted By: Hardam singh 9 year(s) ago

Answer

What are the ways in which a private limited can raise funds such that they are not considered as deposits?? (Apart from Loans fro Read More
What are the ways in which a private limited can raise funds such that they are not considered as deposits?? (Apart from Loans from Financial/Banks)

Fund raising

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Views (1257)
Posted By: Rajvi 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

Section 188- Related party transactions.

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Views (1252)
Posted By: Reena 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?

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

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

Answer

A pvt co. has borrowed first time during 2014-15 upto its paid up & reserves as per then available audited balance sheet of 31.3.2 Read More
A pvt co. has borrowed first time during 2014-15 upto its paid up & reserves as per then available audited balance sheet of 31.3.2014. MGT 14 was filed for Board resolution. No special resolution was passed in an EGM. As per audited financials of 2014-15, paid plus reserves are in negative due to losses. in my view special resolution is still not required to cover old borrowings ( of 2014-15). It may be required for any future borrowings but not for old borrowings. Is this view correct ?

Fund raising

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Views (1251)
Posted By: Manouj agrawaal, fca, partner 9 year(s) ago

Answer

Can AGM be held outside India as both members of the company are outside INDIA.......... Read More
Can AGM be held outside India as both members of the company are outside INDIA..........

Compliances

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Views (1250)
Posted By: Vandana bhatia 10 year(s) ago

Answer

Two directors were appointed as additional directors, on 01st October, 2014, in a private limited company. Following which two ear Read More
Two directors were appointed as additional directors, on 01st October, 2014, in a private limited company. Following which two earlier directors resigned on 10th October, 2014. Now the Company was left with two additional directors only. Can a Company have only additional directors on its board?

Board of Directors

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Views (1249)
Posted By: Vikram 9 year(s) ago

Answer

Dear Sir, ours is a public Ltd. wholly owned subsidiary of LIC of India. the head of the company who is also one of the directors, Read More
Dear Sir, ours is a public Ltd. wholly owned subsidiary of LIC of India. the head of the company who is also one of the directors, his designation is chief executive. in articles also he has been termed as chief executive. but now he wants to use designation as chief executive office. please advice the formalities required. thanks and regards.

KMP

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Views (1248)
Posted By: Naresh 10 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

Section 186- Loan and investment by company.

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Views (1247)
Posted By: Anita 9 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

Section 180- Restrictions on powers of Board.

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Views (1246)
Posted By: Anil 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?)

Section 144- Auditor not to render certain services.

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Views (1246)
Posted By: Prekshi gupta 10 year(s) ago

Answer

Under the Companies Act, 2013, Non-Independent Directors such as MD or Non-Executive Director liable to retire by rotation or has Read More
Under the Companies Act, 2013, Non-Independent Directors such as MD or Non-Executive Director liable to retire by rotation or has the provisions of retirement by rotation been done away with?

Director

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Views (1245)
Posted By: Rajesh agrawal 9 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

Section 173- Meetings of Board.

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

Answer

A director has resigned on 25th March 2014 when CA 1956 was applicable. The eform for the same is to be filed. Is it sufficient Read More
A director has resigned on 25th March 2014 when CA 1956 was applicable. The eform for the same is to be filed. Is it sufficient if DIR 12 alone is filed?. Should the resigning director file DIR 11.?

Director

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Views (1243)
Posted By: Latha 10 year(s) ago

Answer

Can someone provide me format of petition to be filed with RD in case of condonation of delay in charge satisfaction. Read More
Can someone provide me format of petition to be filed with RD in case of condonation of delay in charge satisfaction.

Charges

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Views (1243)
Posted By: Amardeepduggal 8 year(s) ago

Answer

A private Company having two Directors(1 MD), MD term expired in March 2015 Co. holds a BM in Jan 2015 for his reappt. for furth Read More
A private Company having two Directors(1 MD), MD term expired in March 2015 Co. holds a BM in Jan 2015 for his reappt. for further 2 years. Requirements : 1. hold BM, file MGT-14 within 30 days 2. Is is mandatory to file MR-1 for Pvt. Company? 3. Hold GM (its in feb 2015) and file MGT-14 again. 4. Co. having only 2 Directors. (( Can resolution for reappt. of MD in Board meeting ( Jan 2015) can be passed with one interested Director(MD) ))? One more query related to same. Can a single MGT-14 be file for MD reappt.(BM or GM) and Related party transactions?

Director

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Views (1237)
Posted By: Pankaj 9 year(s) ago

Answer

A pvt Co. has borrowings exceeding paid up & reserves before 12.9.2013. After the said date, it has not borrowed any amount. In my Read More
A pvt Co. has borrowings exceeding paid up & reserves before 12.9.2013. After the said date, it has not borrowed any amount. In my view, Board resolution u/s 179 and special resolution u/s180 are still required to cover continuance of old borrowings. Is this view OK ?

Fund raising

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Views (1235)
Posted By: Manouj agrawaal, fca, partner 9 year(s) ago

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.

Section 152- Appointment of directors.

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Posted By: Amit popli 10 year(s) ago

Answer

Company fall under section 139(1) it is filed ADT-1 for FY 2014-15, can company appoint an auditor for period of 4 years for FY 20 Read More
Company fall under section 139(1) it is filed ADT-1 for FY 2014-15, can company appoint an auditor for period of 4 years for FY 2015-19. Is it compulsory to appoint auditor for five years subsequently???

Compliances

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Views (1234)
Posted By: Vijay oganiya 9 year(s) ago

Answer

The compliance certificate for the year 2013-14 to be issued should be as per the earlier format or it should also mention complia Read More
The compliance certificate for the year 2013-14 to be issued should be as per the earlier format or it should also mention compliance of sections of Companies Act, 2013 which had become applicable during the 2013-14 ? Can u pl share the format of new compliance certificate if any ?

Compliances

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Views (1232)
Posted By: Sandhya 10 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

Section 125- Investor Education and Protection Fund.

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Views (1229)
Posted By: B.basu 7 year(s) ago

Answer

How can a Director tender his resignation in case of a company being striked off by a Registrar? Because in such a case he is not Read More
How can a Director tender his resignation in case of a company being striked off by a Registrar? Because in such a case he is not allowed to file form DIR-11 as on feeding CIN of the company system doesn't accept it and showing a message that " the status of entered CIN is strike off. This form cannot be filed for this status"

Director

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Views (1229)
Posted By: Jyoti 7 year(s) ago

Answer

Please clarify regarding conversion of Preference Shares into Equity Shares. A Private Limited company has issued 5%Cumulative Pre Read More
Please clarify regarding conversion of Preference Shares into Equity Shares. A Private Limited company has issued 5%Cumulative Preference Shares in Year 2005 1. Can the company make a payment of dividend now? The company has not made payment of dividend till now. 2. Can the company convert preference shares into equity shares now? 3. Is there any time limit to convert preference shares into equity shares ?

Compliances

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Views (1226)
Posted By: Sunil kumar agrawal 8 year(s) ago

Answer

Is there any change in the provisions of payment of remuneration to director other than MD or WTD in case of Private company under Read More
Is there any change in the provisions of payment of remuneration to director other than MD or WTD in case of Private company under Companies Act, 2013

Director

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Views (1225)
Posted By: Dhavneesh gupta 10 year(s) ago

Answer

what is the interpretation of section 180(1)(d) Read More
what is the interpretation of section 180(1)(d)

Fund raising

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Views (1225)
Posted By: Vishal arora 9 year(s) ago

Answer

There is a Private Limited Company which is not in the preview of provisions relating to KMP, appointed one of its director in Who Read More
There is a Private Limited Company which is not in the preview of provisions relating to KMP, appointed one of its director in Whole time appointment; what will be the procedures and compliance for completing the transaction as per the provision of The Companies Act, 2013

Director

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Views (1224)
Posted By: Jitendra kumar 9 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 ?

Section 135- Corporate Social Responsibility.

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Posted By: Arun rajabhau joshi 7 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?

Section 152- Appointment of directors.

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

Answer

Hello, query is as follows: 1) Private Limited company is having a company secretary, who was voluntarily appointed by the Comp Read More
Hello, query is as follows: 1) Private Limited company is having a company secretary, who was voluntarily appointed by the Company since last 20 years. 2) A notice of board meeting of this private limited company is always being sent by the permanent chairman of that company instead of CS of the Company. 3) As per the secretarial standards, notice of BM shall be sent by CS. 4) Is is mandatory to send the notice only by CS for Pvt. Ltd. Company? Guide on this issue. Thanks & Regards, Ankita

Board Meeting

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Views (1220)
Posted By: Ankita kulkarni 6 year(s) ago

Answer

presently we have a officer who is designated as secretary and is law graduate but is not the member of ICSI nor qualified compan Read More
presently we have a officer who is designated as secretary and is law graduate but is not the member of ICSI nor qualified company secretary.With the introduction of the new companies act and considering the definition of secretary, can the present secretary be designated as secretary?

Company Secretary

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Views (1214)
Posted By: Anil 10 year(s) ago

Answer

Hi, In order to open a office/ branch outside India by an Indian company, is there any requirement of Board of Directors to pass a Read More
Hi, In order to open a office/ branch outside India by an Indian company, is there any requirement of Board of Directors to pass a resolution in board meeting? If yes, under what section?

Board of Directors

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Views (1212)
Posted By: Gagandeep singh 10 year(s) ago

Answer

S Private Limited company is a family Company having 10 family members. The paid up Capital of the Company is Rs. 8/- Crore . Unde Read More
S Private Limited company is a family Company having 10 family members. The paid up Capital of the Company is Rs. 8/- Crore . Under 2013 Act it is oblilgaory to appoint Company Secretary, . If S Pvt.Ltd. does not want to appoint a Company Secretary as work is not involved to justify the appointment, what is way out.

Company Secretary

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Views (1212)
Posted By: Ratanshi khatau tanna 9 year(s) ago

Answer

Can a relative of a director can be appointed as a cs in the pvt company? Read More
Can a relative of a director can be appointed as a cs in the pvt company?

Company Secretary

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Views (1212)
Posted By: Anita 9 year(s) ago

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?

Section 109- Demand for poll.

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

Answer

Whether a shareholder invest money by taking loan. Is there any restriction on a director for investing money by taking loan. Read More
Whether a shareholder invest money by taking loan. Is there any restriction on a director for investing money by taking loan.

Fund raising

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Views (1207)
Posted By: Suman kadyan 10 year(s) ago

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 ?

Section 175- Passing of resolution by circulation.

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

Answer

The Companies Act, 2013 provides 60 days time from the date of receipt of the subscription amount for the purpose of allotment of Read More
The Companies Act, 2013 provides 60 days time from the date of receipt of the subscription amount for the purpose of allotment of securities. Can an unlisted public company utilise the subscription money prior to allotment of securities.

Fund raising

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Views (1204)
Posted By: Arun kumar 10 year(s) ago

Answer

Dear Exerts, XYZ is a Partnership Firm Auditor of a Listed Company for a period more than 15 years, but due to provisions of Rot Read More
Dear Exerts, XYZ is a Partnership Firm Auditor of a Listed Company for a period more than 15 years, but due to provisions of Rotation of Auditors XYZ will not be eligible to to reappointed for 5 Years. Mr. Z a non signing of XYZ Firm resigned and Joined a new CA Firm ABC and ABC appointed as Auditor of That listed Company. My question is that whether ABC can be appointed as Auditor of that Listed Company whose earlier auditor was XYZ ? Whether Mr. Z who resigned my XYZ can sign Audit report of that listed company on behalf of New CA Firm ABC?

Auditors

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Views (1202)
Posted By: Nitin 8 year(s) ago

Answer

Can a public limited company fix KMP remuneration for five years? Read More
Can a public limited company fix KMP remuneration for five years?

Remuneration to KMP

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Views (1200)
Posted By: Company secretary 9 year(s) ago

Answer

Please clarify - What is a minimum age limit for appointment of a director of the company? We understand majority of a person i.e Read More
Please clarify - What is a minimum age limit for appointment of a director of the company? We understand majority of a person i.e minimum age 18 years.

Director

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Views (1199)
Posted By: Sunil kumar agrawal 9 year(s) ago

Answer

Section 203 prohibits appointment /re-appointmnt of chairperson as MD /CEO unless Articles provides otherwise. If Articles of a Co Read More
Section 203 prohibits appointment /re-appointmnt of chairperson as MD /CEO unless Articles provides otherwise. If Articles of a Company does not provide appointment of Chairperson as MD / CEO Whether a Company can appoint Chairperson as its MD under this Section after amending its Artiles facilitationg such appointment ?

KMP

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Views (1193)
Posted By: Ketan antani 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?

Section 18- Conversion of companies already registered.

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

Answer

Is there any change in the Format of Compliance Certificate u/s 383A to be issued for the year ended on 31.03.2014. If so, please Read More
Is there any change in the Format of Compliance Certificate u/s 383A to be issued for the year ended on 31.03.2014. If so, please provide me the new format of Compalince Certificate.

Compliances

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Views (1191)
Posted By: Dhavneesh gupta 10 year(s) ago

Answer

An applicant who is a permanent resident of Maharashtra but presently residing in MP wishes to obtain DIN. The verification to be Read More
An applicant who is a permanent resident of Maharashtra but presently residing in MP wishes to obtain DIN. The verification to be obtained for DIN has to be on stamp paper and duly notarised. Can he obtain stamp paper and notarisation in MP when his permanent address belongs to Maharashtra.

Director

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Views (1191)
Posted By: Latha 9 year(s) ago

Answer

In a listed company, if the company's related party transaction are below the limits then a board resolution is required or not an Read More
In a listed company, if the company's related party transaction are below the limits then a board resolution is required or not and if any approvals are required? Whether such transaction will be shown under ordinary or special business or under any other head in the annual report of the company?

SEBI

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Views (1189)
Posted By: Rajesh agrawal 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?.

Section 185- Loan to directors, etc.

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

Answer

i have to file petition for registration of charges for charge created on 12/06/2013. CH-8 is prescribed to be filed with Central Read More
i have to file petition for registration of charges for charge created on 12/06/2013. CH-8 is prescribed to be filed with Central Govt. However CH-8 is an attachment not an online form. in which form it is to be attached and to whom this form is to be filed ? wat form to be filed with ROC and Regional director.

Charges

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Views (1185)
Posted By: Nidhi 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 ? .

Section 179- Powers of Board.

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

Answer

Is it mandatory to file Form DIR-12 with ROC for appointment of Independent Director for a second term. Read More
Is it mandatory to file Form DIR-12 with ROC for appointment of Independent Director for a second term.

Director

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Views (1179)
Posted By: Prerna kapoor 7 year(s) ago

Answer

Can a Company issue unsecured convertible debentures and Will it be treated as deposits? Read More
Can a Company issue unsecured convertible debentures and Will it be treated as deposits?

Fund raising

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Views (1176)
Posted By: Sreenivas babu 9 year(s) ago

Answer

I want to get the name of the company removed from the register of companies . Please suggest me the entire procedure and the cond Read More
I want to get the name of the company removed from the register of companies . Please suggest me the entire procedure and the conditions which I have to fulfill and the requisite forms which i need to file. Thanx CA Mahendra Mittal

Winding-up

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Views (1173)
Posted By: Mahendra 9 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?

Section 203- Appointment of key managerial personnel.

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Views (1167)
Posted By: Akansha 10 year(s) ago

Answer

Is EGM required for right issue by a private limited company? Read More
Is EGM required for right issue by a private limited company?

Fund raising

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Views (1162)
Posted By: Company secretary 9 year(s) ago

Answer

Retirement of Director - A Public Limited unlisted company has appointed Managing Director, Joint Managing Director (WTD) & Execut Read More
Retirement of Director - A Public Limited unlisted company has appointed Managing Director, Joint Managing Director (WTD) & Executive Director (WTD). The Managing Director, Joint Managing Director (WTD) & Executive Director (WTD) may be retired by rotation or not as per the Companies Act, 2013. The Board total strength is – 7 Directors out of which 3 are MD, JMD & ED and 2 is Non- executive directors and 2 is Independent Directors. Please clarify.

Director

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Views (1162)
Posted By: Sunil kumar agrawal 9 year(s) ago

Answer

We have a small private limited company with 2 shareholders i.e. A & B who are also the directors of the company. Company wants to Read More
We have a small private limited company with 2 shareholders i.e. A & B who are also the directors of the company. Company wants to convert unsecured loan given by one of the director i.e A into shares of the company. Will A & B form a valid quorum for passing a board resolution in this regard? Will A be considered as 'interested director' and therefore not counted for the purpose of quorum u/s 174 of the Act (i.e. Section 2(49) read with Section 184(2) of the Act)?

Definitions

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Views (1155)
Posted By: Neha mittal 9 year(s) ago

Answer

Can an act done by the Board of Directors, ratified by the shareholder in AGM? Where the AoA of a private Company provide for an O Read More
Can an act done by the Board of Directors, ratified by the shareholder in AGM? Where the AoA of a private Company provide for an Ordinary resolution in a general meeting for further issue of shares and if such a private company issues shares on rights basis to existing shareholders without shareholders consent , can this be ratified by the shareholders in AGM? (There are only 2 members one holding 95% of share capital to whom the allotment is made.) Thanks!

Compliances

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Views (1150)
Posted By: Amruta tendulkar 9 year(s) ago

Answer

Whether stamp duty on transfer of property is required to pay on amalgamation /merger of wholly owned subsidiary Company into hold Read More
Whether stamp duty on transfer of property is required to pay on amalgamation /merger of wholly owned subsidiary Company into holding Company ?

Restructuring

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Views (1145)
Posted By: Arun rajabhau joshi 7 year(s) ago

Answer

Hi, Please advise can private company take loan from NBFC on security of investments held by its directors and a private company i Read More
Hi, Please advise can private company take loan from NBFC on security of investments held by its directors and a private company in which one of the director is interested. The private company whose investments are kept as security are fullfiling all the condition of 5th june circular. Thanks

Fund raising

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Views (1141)
Posted By: Nidhi goel 9 year(s) ago

Answer

Kindly guide me relating resignation of directors occurred prior to March, 2014 in any company especially relating procedural aspe Read More
Kindly guide me relating resignation of directors occurred prior to March, 2014 in any company especially relating procedural aspects of filing DIR 11 and DIR 12 as subject matter is under old act 1956

Director

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Views (1133)
Posted By: U m nagaraj 10 year(s) ago

Answer

Is the minutes book to be maintained in electronic form or physical form as per new companies act, 2013? Read More
Is the minutes book to be maintained in electronic form or physical form as per new companies act, 2013?

Disclosures

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Views (1130)
Posted By: Rajesh agrawal 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?

Section 184- Disclosure of interest by director.

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Views (1130)
Posted By: Himanshu 8 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?

Section 149- Company to have Board of directors.

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

Answer

In case of fixation of remuneration under Schedule V of the Companies Act, should the Company obtain prior approval by way of spec Read More
In case of fixation of remuneration under Schedule V of the Companies Act, should the Company obtain prior approval by way of special resolution for payment of remuneration. Section 196(4) provides that the resolution can be passed by the shareholders at the next general meeting. So no prior approval is required and that the remuneration can be approved at the next general meeting.

Remuneration to KMP

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Views (1124)
Posted By: Arun kumar 10 year(s) ago

Answer

A company wish to complete its pending annual filing under CLSS scheme but it is in default of filing Form DIN3 also therefore the Read More
A company wish to complete its pending annual filing under CLSS scheme but it is in default of filing Form DIN3 also therefore the site is not showing signatories details and now the Form DIN 3 is not available. How to file Director's details with ROC in absence of DIN-3 before starting annual filing

Compliances

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Views (1123)
Posted By: Anita 10 year(s) ago

Answer

Thanks Sir, please confirm whether DIR-2 of directors whose designation is going to change is also required to be attached with DI Read More
Thanks Sir, please confirm whether DIR-2 of directors whose designation is going to change is also required to be attached with DIR-12?

Director

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Views (1122)
Posted By: Dhavneesh gupta 9 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.

Section 194- Prohibition on forward dealings in securities of company by director or key managerial personnel..

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Views (1121)
Posted By: Sanam singh 8 year(s) ago

Answer

Section 179(3)(c) stipulates that issue of securities can be done only at a Board meeting. I guess the same refers to only the iss Read More
Section 179(3)(c) stipulates that issue of securities can be done only at a Board meeting. I guess the same refers to only the issue of securities and not the actual allotment of the securities. If the intention of the legislature was to restrict allotment to be done only through board meetings, listed companies which allot shares to employees through ESOP would have to have board meeting almost every month. Am I right that allotment of securities can be done through circulation.

Board Meeting

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Views (1120)
Posted By: Arun kumar 10 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”

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

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

Answer

Can a listed company have two Managing Director at the same time? Read More
Can a listed company have two Managing Director at the same time?

Director

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Views (1118)
Posted By: Rajesh agrawal 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?

Section 168- Resignation of director.

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

Answer

A debt listed Pvt. CO. Needs to redeem it's preference shares which were issued for 2 years. Now after completing the term the com Read More
A debt listed Pvt. CO. Needs to redeem it's preference shares which were issued for 2 years. Now after completing the term the company want to redeem these by issuing fresh issue of equity shares. Kindly guide whether EGM is required or Board Meeting will suffice the purpose.

Fund raising

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Views (1115)
Posted By: Bunny sehgal 8 year(s) ago

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.

Section 441- Compounding of certain offences.

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Views (1114)
Posted By: Sanjay 7 year(s) ago

Answer

Can a director of a private limited company also become a bank signatory for a project office in India where there he is no other Read More
Can a director of a private limited company also become a bank signatory for a project office in India where there he is no other role to do and not getting any salary in project office.

Foreign Company

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Views (1110)
Posted By: Manoj jangid 9 year(s) ago

Answer

Hi everyone, One of our client is a Private co. We have 7 directors in our company. We want to change the designation of two of ou Read More
Hi everyone, One of our client is a Private co. We have 7 directors in our company. We want to change the designation of two of our directors as Chairman and M.D. Now, as per exemption notification dated 05/6/2015, can we change the designation of existing directors to MD or Chairman just by passing Board Resolution and filing of DIR-12 ? or we still need to file MR-1 ? Can you please provide me the format of Board Resolution for changing the designation of directors?

Director

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Views (1109)
Posted By: Dhavneesh gupta 9 year(s) ago

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.

Section 146- Auditors to attend general meeting.

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Views (1108)
Posted By: Sanket 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,

Section 2 - Definitions

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Views (1107)
Posted By: Dharmesh 9 year(s) ago

Answer

Can a Private Limited Company issue Share Warants under CA 2013/ If so which are the provisions applicable? Please respond. Read More
Can a Private Limited Company issue Share Warants under CA 2013/ If so which are the provisions applicable? Please respond.

Fund raising

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Views (1105)
Posted By: V. maslekar 9 year(s) ago

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?)

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

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Views (1105)
Posted By: Vivek vijay 10 year(s) ago

Answer

is appointment of a woman director mandatory in a listed company for the financial year 2013-2014 Read More
is appointment of a woman director mandatory in a listed company for the financial year 2013-2014

Board of Directors

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Views (1104)
Posted By: Rajesh agrawal 10 year(s) ago

Answer

Can a Public Limited Company (Unlisted Company) give commission apart from remuneration to MD and WTD.? If yes, then till what lim Read More
Can a Public Limited Company (Unlisted Company) give commission apart from remuneration to MD and WTD.? If yes, then till what limit or percentage the company can give commission to each.?

Remuneration to KMP

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Views (1102)
Posted By: Nikki 8 year(s) ago

Answer

Can you pls tel if anythingis mentioned regarding the timing of conducting the board Meeting under the new companies act. To be Read More
Can you pls tel if anythingis mentioned regarding the timing of conducting the board Meeting under the new companies act. To be more specific if the meeting could be held even on sunday at 6.00 p.m as it was in the previous act. If yes kindly refer the specific rules.

Board Meeting

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Views (1101)
Posted By: Vivek vijay 10 year(s) ago

Answer

Can equity shares be issued to a director who has incurred expenses on behalf of the company instead of reimbursement of expenses, Read More
Can equity shares be issued to a director who has incurred expenses on behalf of the company instead of reimbursement of expenses, if yes what is the procedure to issue

Fund raising

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Views (1100)
Posted By: T.r.chadha & co. 8 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?

Section 184- Disclosure of interest by director.

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Views (1095)
Posted By: Latha 10 year(s) ago

Answer

MCA Notification GSR 390(E) of 9th June 2014 has the effect of restoring the position under old Sec 383A in respect of companies w Read More
MCA Notification GSR 390(E) of 9th June 2014 has the effect of restoring the position under old Sec 383A in respect of companies with paidup capital of over Rs 5 crores. However the old section also said that other companies with lower capital base should get a compliance certificate from a PCS which shall be appended to the directors report mentioned in Sec 217 of the old Act. The new Act is silent on this class po companies. Is it correct to assume that the certificatee is not required for FY 14 as well as subsequent years.

Company Secretary

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Views (1093)
Posted By: K gopalan 10 year(s) ago

Answer

Please clarify - A company is maintain its accounts stating from 01.01.2014 closing to 31.12.2014. Is company require to file Annu Read More
Please clarify - A company is maintain its accounts stating from 01.01.2014 closing to 31.12.2014. Is company require to file Annual documents to ROC as per the Companies Act, 1956 Form 23AC 23ACA, 20B & 66? OR Is company require to file documents to ROC as per the Companies act, 2013?

Compliances

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Views (1093)
Posted By: Sunil kumar agrawal 9 year(s) ago

Answer

Kindly give advice on below from the perspective of downstream investments. Any special procedure to be followed by JV Company. Read More
Kindly give advice on below from the perspective of downstream investments. Any special procedure to be followed by JV Company. Can an Indian JV company (50% UK : 50% Indian) enter into partnership business in the form of partnership firm in same field with some Indian partners? Can an Indian JV company (50% UK : 50% Indian) enter into partnership in a LLP in same field with some Indian partner?

RBI

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Views (1091)
Posted By: Akhand 9 year(s) ago

Answer

What is the definition or coverage of management services as stated in section 144 Read More
What is the definition or coverage of management services as stated in section 144

Definitions

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Views (1089)
Posted By: Naveen aggarwal 10 year(s) ago

Answer

Section 161(3) speaks about the Appointment of Nominee Directors. The Section read as "Subject to the articles of a company, the B Read More
Section 161(3) speaks about the Appointment of Nominee Directors. The Section read as "Subject to the articles of a company, the Board may appoint any person as a director nominated by any institution in pursuance of the provisions of any law for the time being in force or of any agreement or by the Central Government or the State Government by virtue of its shareholding in a Government company." My query is what does the term "...................................... by virtue of its shareholding in a Government Company" implies???????

Definitions

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Views (1088)
Posted By: Dipika 10 year(s) ago

Answer

will the reconstitution of audit committee, nomination & remuneration committee and stakeholders committee shown in the annual rep Read More
will the reconstitution of audit committee, nomination & remuneration committee and stakeholders committee shown in the annual report of the company?

Restructuring

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Views (1088)
Posted By: Rajesh agrawal 10 year(s) ago

Answer

what is condition to keep company name like amor india private limited? is there any condition about keep India in company n Read More
what is condition to keep company name like amor india private limited? is there any condition about keep India in company name?

Small Company

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Views (1087)
Posted By: D singh 8 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?

Section 96- Annual general meeting.

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Views (1082)
Posted By: Latha 10 year(s) ago

Answer

DOES Borrowings under the new companies act includes "unsecured loans"? Read More
DOES Borrowings under the new companies act includes "unsecured loans"?

Fund raising

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Views (1078)
Posted By: Kamlesh 10 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

Section 230- Power to compromise or make arrangements with creditors and members.

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Views (1070)
Posted By: Prerna kapoor 8 year(s) ago

Answer

can company winding under section 304 what is procedure for pvt company Read More
can company winding under section 304 what is procedure for pvt company

Company Secretary

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Views (1062)
Posted By: Hasmukh prajapati 7 year(s) ago

Answer

Whether a Whole time director in a private limited company and getting remuneration from that company can get remuneration from an Read More
Whether a Whole time director in a private limited company and getting remuneration from that company can get remuneration from another private limited company in which he is an ordinary director?. The other company is neither a holding company or subsidiary company of the company in which he is a whole time director. Raghavan, company secretary

Director

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Views (1061)
Posted By: Raghavan 8 year(s) ago

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?

Section 92- Annual return.

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

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.

Section 196- Appointment of managing director, whole-time director or manager.

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Views (1051)
Posted By: Latha 10 year(s) ago

Answer

Whether Risk Management Policy applicable for small companies also? Read More
Whether Risk Management Policy applicable for small companies also?

Definitions

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Views (1051)
Posted By: Rahul 8 year(s) ago

Answer

Who will sign Limited Review Report if the term of statutory auditor is completing on 31-3-2017. What is the procedure to follow i Read More
Who will sign Limited Review Report if the term of statutory auditor is completing on 31-3-2017. What is the procedure to follow in this case. Please send me your views.

Auditors

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Views (1051)
Posted By: Neelam 7 year(s) ago

Answer

Hi everyone, Kindly address my query: A India ltd is a holding company having B foreign Limited as its wholly owned subsidiary. Read More
Hi everyone, Kindly address my query: A India ltd is a holding company having B foreign Limited as its wholly owned subsidiary. B Foreign Limited further has a wholly owned subsidiary C India Limited. Can we say that C India Limited is a wholly owned subsidiary of A India Limited. If yes, under what provisions. Kindly revert.

Definitions

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Views (1049)
Posted By: Haryana 9 year(s) ago

Answer

Can a company secretary who happens to be a relative of one of the Directors, do the secretarial work for the company like certifi Read More
Can a company secretary who happens to be a relative of one of the Directors, do the secretarial work for the company like certification and filing of various forms with ROC.If yes what will be the difference if the share capital of the company is more than Rs. crore. A board resolution of disclosure is being passed every year in March by the Board for his autorisation to do the work.

Company Secretary

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Views (1047)
Posted By: Anita 10 year(s) ago

Answer

In a private co, a director ( designated as a Director in RoC records) is getting salary for last 15 years. Do w have to redesigna Read More
In a private co, a director ( designated as a Director in RoC records) is getting salary for last 15 years. Do w have to redesignate him as a whole time director now from a current date ? And what resolution and form is to be filed for that ?

KMP

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Views (1045)
Posted By: Manouj agrawaal, fca, partner 9 year(s) ago

Answer

Can a trust hold shares in its own name under Compinies Act, 1956? And what is the status under Companies Act, 2013? Read More
Can a trust hold shares in its own name under Compinies Act, 1956? And what is the status under Companies Act, 2013?

Fund raising

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Views (1044)
Posted By: Vikram jeet singh 10 year(s) ago

Answer

Whether it is mandatory to attach and send form MBP.1 along with copy of resolution passed u/s 184(1) regarding disclosure of dire Read More
Whether it is mandatory to attach and send form MBP.1 along with copy of resolution passed u/s 184(1) regarding disclosure of director’s interest through form MGT.14 for all the companies

Compliances

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Views (1044)
Posted By: Krishna kumar gaggar 10 year(s) ago

Answer

Is it mandatory to file Form DIR-12 with ROC for appointment of Independent Director for a second term. Read More
Is it mandatory to file Form DIR-12 with ROC for appointment of Independent Director for a second term.

Director

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Views (1043)
Posted By: Prerna kapoor 7 year(s) ago

Answer

Can a whole time director be paid sitting fees for attending board / committee meeting. If yes, would the same be treated as part Read More
Can a whole time director be paid sitting fees for attending board / committee meeting. If yes, would the same be treated as part of his managerial remuneration for the purpose of the limits prescribed under the act.

Remuneration to KMP

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Views (1037)
Posted By: Arun kumar 10 year(s) ago

Answer

Can the Managing Director be a rotational Director. If yes, should he be re-appointed as Managing Director every time he retires b Read More
Can the Managing Director be a rotational Director. If yes, should he be re-appointed as Managing Director every time he retires by rotation.

Director

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Views (1037)
Posted By: Arun kumar 10 year(s) ago

Answer

LIC of India has incorporated a 100% subsidiary company with paid up capital of 1 crore divided into 10 lacs shares of rs 10/- eac Read More
LIC of India has incorporated a 100% subsidiary company with paid up capital of 1 crore divided into 10 lacs shares of rs 10/- each. In order to ensure 7 minimum members for public company, one share of Rs 10/- each were allotted to 6 employees of LIC who acted as nominee shareholder on behalf of LIC. Two of them are also directors of the company. My question is while giving disclosure of interest in MBP-1, is the director required to mention that one share held by him in the Company as he has no beneficial interest in that share. Regards.

Disclosures

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Views (1037)
Posted By: Naresh 9 year(s) ago

Answer

company is a subsidiary of a body corporate. For the definition of a subsidiary the term company includes Read More
company is a subsidiary of a body corporate. For the definition of a subsidiary the term company includes

Definitions

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Views (1036)
Posted By: Gayathri 10 year(s) ago

Answer

Can a car be provided to a nominee director? Read More
Can a car be provided to a nominee director?

Director

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Views (1035)
Posted By: Ashok 10 year(s) ago

Answer

I have a company which was incorporated in the year 2005, but now the company has some statutory dues and loans and want to close Read More
I have a company which was incorporated in the year 2005, but now the company has some statutory dues and loans and want to close the company. My question is whether the company can go for strike off u/s 248 of the Act or it has to go for voluntary winding up by members? Which procedure we need to opt.. strike off or winding up. Please suggest.

Winding-up

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Views (1035)
Posted By: Shristi jain 7 year(s) ago

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?.

Section 110- Postal ballot.

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

Answer

A company is having its current financial year as January to December. Do the Company needs to take approval from authorities for Read More
A company is having its current financial year as January to December. Do the Company needs to take approval from authorities for changing and extending its financial year to 31st March. Please suggest.

Definitions

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Views (1026)
Posted By: Jasleen 9 year(s) ago

Answer

What is the time limit of appointment of KMP in a listed company and board or special resolution is required? Read More
What is the time limit of appointment of KMP in a listed company and board or special resolution is required?

KMP

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Views (1020)
Posted By: Rajesh agrawal 10 year(s) ago

Answer

Till what time can e-form filing be delayed without attracting any prosecution and by only incurring additional fees. First Provis Read More
Till what time can e-form filing be delayed without attracting any prosecution and by only incurring additional fees. First Proviso to sub-section (1) of Section 403 of the Companies Act, 2013 provides time up to 270 days from the date of the event for filing the various returns / forms by only incurring additional fee and not attracting any prosecution or other penalty. Am I right in my understanding that delay in filing various returns / forms under the Companies Act 2013 up to 270 days from the date of the event would only attract additional fees and no other penal action.

Penalties

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Views (1020)
Posted By: Arun kumar 10 year(s) ago

Answer

Can Folio number of the register of members be changed Read More
Can Folio number of the register of members be changed

Fund raising

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Views (1020)
Posted By: Suman jain 8 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?

Section 138- Internal Audit.

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Views (1018)
Posted By: Mookambika r 9 year(s) ago

Answer

In a private co, a whole time director designated as such, is taking salary for last 14 years now. Please advise whether we need t Read More
In a private co, a whole time director designated as such, is taking salary for last 14 years now. Please advise whether we need to re appoint him now or from an earlier date and what resolution/forms need to be filed for the same ?

KMP

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Views (1008)
Posted By: Manouj agrawaal, fca, partner 9 year(s) ago

Answer

One of my valued client have made payment to IEPF on 4th May 2016 with respect to Unpaid/unclaimed interim dividend 2008-09, throu Read More
One of my valued client have made payment to IEPF on 4th May 2016 with respect to Unpaid/unclaimed interim dividend 2008-09, through TR 6 challan in Punjab National Bank. The Form 1 INV was not available in the MCA site at that time , however the option of payment through TR 6 challan was available. Since they have made payment through challan, no SRN was generated. In such a situation what will be the SRN in IEPF 1? Without SRN , the Form IEPF-1 can not CHECKED FORM. Please help to solve this issue

Compliances

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Views (1006)
Posted By: B.basu 8 year(s) ago

Answer

A Private Limited company has got Overdraft Credit facility from bank and given the following security. 1. Demand promissory not Read More
A Private Limited company has got Overdraft Credit facility from bank and given the following security. 1. Demand promissory note 2. Agreement for pledge book debts 3. Agreement for hypothecation of book debts 4. Mortgage of immovable property in the name of the director. 5. Guarantee by One of the director. On which of the above charge to by registered with the ROC. Is charge required to be registered in the case where the immovable property is in the name of directors and not in the name of company.

Charges

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Views (1005)
Posted By: Aishwarya 8 year(s) ago

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.

Section 108- Voting through electronic means.

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

Answer

Can the Chairman and Managing director of the listed company be a member of the Nomination and remuneration committee? Read More
Can the Chairman and Managing director of the listed company be a member of the Nomination and remuneration committee?

Director

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Views (1000)
Posted By: Rajesh agrawal 10 year(s) ago

Answer

Please give me a list of mandatory registers to be maintained by a listed company under companies act, 2013 Read More
Please give me a list of mandatory registers to be maintained by a listed company under companies act, 2013

Compliances

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Views (1000)
Posted By: Rajesh agrawal 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?

Section 117- Resolutions and agreements to be filed.

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Views (1000)
Posted By: Latha 10 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.

Section 185- Loan to directors, etc.

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

Answer

Please clarify regarding Issue of Shares: 1. A Pvt. Ltd. company dealing in Multi media business 2.The remittance received in Read More
Please clarify regarding Issue of Shares: 1. A Pvt. Ltd. company dealing in Multi media business 2.The remittance received in US$ in August 2013. 3. The company has given declaration to the bank on receiving of remittance – the remittance is received as investment by NRI on non repatriation basis. 4. The company has accounted above amount as Unsecured Loan in its Books of accounts. 5. Now, the company desire to convert Unsecured Loan into Equity Shares. 6. Please clarify: Can the company issue Equity shares on conversion of unsecured Loan? If yes What are the formalities need to comply?

Compliances

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Views (998)
Posted By: Sunil kumar agrawal 9 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?

Section 188- Related party transactions.

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Views (990)
Posted By: Vibha 8 year(s) ago

Answer

Our company has already received more than 72% resolutions passed in its favour through e-voting. Is there any mandatory requireme Read More
Our company has already received more than 72% resolutions passed in its favour through e-voting. Is there any mandatory requirement to show the remaining results in the AGM or can all the resolutions be considered as passed?

SEBI

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Views (988)
Posted By: Rajesh agrawal 10 year(s) ago

Answer

Is secretarial audit applicable for FY 2013-14 Read More
Is secretarial audit applicable for FY 2013-14

Compliances

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Views (985)
Posted By: Arun kumar 10 year(s) ago

Answer

Can two non-executive independent directors form a stakeholder's committee or we need to have minimum three independent directors? Read More
Can two non-executive independent directors form a stakeholder's committee or we need to have minimum three independent directors?

Director

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Views (977)
Posted By: Rajesh agrawal 10 year(s) ago

Answer

Mr. A, an Indian Resident is a Managing Director of XYZ Limited, a listed entity. At present, he is withdrawing salary of Rs.90 La Read More
Mr. A, an Indian Resident is a Managing Director of XYZ Limited, a listed entity. At present, he is withdrawing salary of Rs.90 Lac per annum from XYZ Limited and of Rs. INR 20 Lac per annum from XYZ Brazil Inc, which is a foreign subsidiary of XYZ Limited. Now he is intending to withdrawn salary of INR 40 Lac per annum from XYZ Europe Inc, another foreign step down subsidiary of XYZ Limited. Can Mr. A draw salary from another foreign subsidiary?

Remuneration to KMP

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Views (975)
Posted By: Ashok 7 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.

Section 196- Appointment of managing director, whole-time director or manager.

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Views (972)
Posted By: Amod kumar jha 7 year(s) ago

Answer

Can a trust in which chairman of the Board is also a trustee, be a related party to the Company (Public Limited Company)? Read More
Can a trust in which chairman of the Board is also a trustee, be a related party to the Company (Public Limited Company)?

Definitions

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Views (972)
Posted By: Pravin satardekar 8 year(s) ago

Answer

Section 179 stipulates that issue of securities needs to be done only at a Board. Would it mean that allotment of securities shoul Read More
Section 179 stipulates that issue of securities needs to be done only at a Board. Would it mean that allotment of securities should also be done only at Board meeting and not through circulation. The power to issue securities under Section 179(3)(c) also cannot be delegated. How will listed companies which have granted ESOP be able to convene board meeting only for the purpose of allotment of shares. Can allotment of securities be done through circulation.

Board Meeting

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Views (967)
Posted By: Arun kumar 10 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

Section 77- Duty to register charges, etc.

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

Answer

Is the appointment of a small shareholder director mandatory for a listed company as per new companies act, 2013 and what is the t Read More
Is the appointment of a small shareholder director mandatory for a listed company as per new companies act, 2013 and what is the time limit for such appointment?

Director

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Views (956)
Posted By: Rajesh agrawal 10 year(s) ago

Answer

In case of revision in remuneration of Managing Director of a listed entity, within the limits of Section 197 i.e. 5 % of net pro Read More
In case of revision in remuneration of Managing Director of a listed entity, within the limits of Section 197 i.e. 5 % of net profits, do we have to go for Shareholders approval? And what if the Shareholders don’t approve the same, will the revised remuneration paid on the basis of Board approval be liable to be refunded by him?

Remuneration to KMP

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Views (954)
Posted By: Prerna kapoor 8 year(s) ago

Answer

A person is appointed as director in a BM which is also attended by him. His interest in other entities are considered and attach Read More
A person is appointed as director in a BM which is also attended by him. His interest in other entities are considered and attached to form DIR 12. The BM is also attended by the new appointee. Should the company pass a separate BM resolution to consider interest by such new appointee and file the same in MGT 14 with the ROC?

Disclosures

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Views (948)
Posted By: Latha 9 year(s) ago

Answer

As per sub- section 6 of Section 42 , A company shall allot its securities within sixty days from the date of receipt of the appl Read More
As per sub- section 6 of Section 42 , A company shall allot its securities within sixty days from the date of receipt of the application money and if the company is not able to allot the securities within that period, it shall repay the application money to the subscribers within fifteen days from the date of completion of sixty days , otherwise it attracts penal provisions. In the given case, if the Company fails to allot shares or refund the amount due and if the Subscribers (Investors) furnishes an undertaking that they shall waive any interest or additional interest and agree to wait till such time the company allots the shares. Is this permissible?

Fund raising

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Views (946)
Posted By: V. maslekar 9 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.

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

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

Answer

what is the minimum requirement of members in the stakeholders committee? can the chairman and managing director of the same liste Read More
what is the minimum requirement of members in the stakeholders committee? can the chairman and managing director of the same listed company also be a member of the stakeholder's committee?

Director

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Views (906)
Posted By: Rajesh agrawal 10 year(s) ago

Answer

Dear Sir/ Madam, 3% Remuneration paid to NED on the basis of Last F.y Profit For c.y remuneration. As the Profit is lower in C.y Read More
Dear Sir/ Madam, 3% Remuneration paid to NED on the basis of Last F.y Profit For c.y remuneration. As the Profit is lower in C.y compare to P.Y profit, excess remuneration paid to NED can waive without approval of CG as the total remuneration is within limit of 11%?

Remuneration to KMP

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Views (903)
Posted By: Siddhi 7 year(s) ago

Answer

Hi, ours is a private company, we want to appoint our existing director as Whole time director. Whether we can do it by passing Bo Read More
Hi, ours is a private company, we want to appoint our existing director as Whole time director. Whether we can do it by passing Board resolution only or we have to take approval of members in general meeting also? Whether DIR-2 form has to be attached with Form DIR-12? what are the other forms & attachments required to be filed with ROC?

Director

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Views (900)
Posted By: Dhavneesh gupta 9 year(s) ago

Answer

Whether employees of group companies, if they contribute to the share capital, can be treated as part of the Promoter Group ? Read More
Whether employees of group companies, if they contribute to the share capital, can be treated as part of the Promoter Group ?

Promoter

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Views (885)
Posted By: Gokul rathi 10 year(s) ago

Answer

Hello Professionals, I have a Pvt Ltd which is inoperative since two years, I wish to windup the company using FTE mode & I had a Read More
Hello Professionals, I have a Pvt Ltd which is inoperative since two years, I wish to windup the company using FTE mode & I had a few doubts: -Is FTE mode still applicable as of today, because I don't see the form when I enquire for fees -The board resolution to be passed to authorise the directors to make the winding up proceedings but we still have an operative bank account, I wanted to know if the same resolution can be done for both closure of bank account & authorising winding up proceedings. -I have some cash balance, is it okey to have the cash balance as the directors have to give an affidavit that there are no assets & liabilities -The Annexure A format says "Company registered under Companies Act 1956" but mine is registered under Companies act 2013 can I change the text. -Do I need to file the board resolution with MCA before filling Form FTE -What extra attachments do i need apart from these in Form FTE Attachments -Annexure A,B,C --Board Resolution Regards. diin_cs@denso.co.in

Winding-up

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Views (883)
Posted By: Deepak 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.

Section 149- Company to have Board of directors.

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Views (881)
Posted By: Radha 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 ?

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

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

Answer

FINANCIAL YEAR - What is a procedure to have and continue calendar year as a financial year by a company have Foreign Collaboratio Read More
FINANCIAL YEAR - What is a procedure to have and continue calendar year as a financial year by a company have Foreign Collaboration? Foreign Company have 60% shareholding in Indian Co. Is it any time limit to get approval from any authority?

Definitions

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Views (873)
Posted By: Sunil kumar agrawal 10 year(s) ago

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.

Section 125- Investor Education and Protection Fund.

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

Answer

If a listed company had already constituted a nomination & remuneration committee, stakeholder relationship committee and audit co Read More
If a listed company had already constituted a nomination & remuneration committee, stakeholder relationship committee and audit committee before the commencement of the new act, 2013 then is it mandatory to reconstitute them and what is the procedure for the same?

Compliances

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Views (865)
Posted By: Rajesh agrawal 10 year(s) ago

Answer

Is the appointment of small shareholder director through a board resolution or special resolution? Read More
Is the appointment of small shareholder director through a board resolution or special resolution?

Director

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Views (864)
Posted By: Rajesh agrawal 10 year(s) ago

Answer

A Private Limited company with Nominal Value of Rs.10/- per Equity Share, has obtained Valuation from a approved Valuer based on D Read More
A Private Limited company with Nominal Value of Rs.10/- per Equity Share, has obtained Valuation from a approved Valuer based on Discounted Cash flow Method and as per the Report, Value per share is Rs.1560/- per share. Can the Company go ahead and allot shares of Rs.10/- each at a Premium of Rs.1490?

Fund raising

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Views (860)
Posted By: V. maslekar 8 year(s) ago

Answer

COMPLIANCE ON CHANGE IN SECURITY PROVIDED TO SECURE NCD Read More
COMPLIANCE ON CHANGE IN SECURITY PROVIDED TO SECURE NCD

Fund raising

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Views (859)
Posted By: Alok srivastava 7 year(s) ago

Answer

Can a Private Limited take loan or raise money from any third person either secured or unsecured? Which Section attracted, if yes Read More
Can a Private Limited take loan or raise money from any third person either secured or unsecured? Which Section attracted, if yes then why? if not then why?

Fund raising

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Views (857)
Posted By: Anupma khanna 7 year(s) ago

Answer

As per recent Companies Bill passed the definition of Subsidiary and Holding changed. Now any body corporate will also fall under Read More
As per recent Companies Bill passed the definition of Subsidiary and Holding changed. Now any body corporate will also fall under subsidiary. A pvt ltd company is partner in a LLP and having capital contribution about 90% in LLP. Does as per new definition the LLP being a body corporate will become subsidiary of the Pvt Ltd Company. If yes, does the provision of consolidation will attract on this. What are other implication due this ?

Definitions

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Views (845)
Posted By: Rkdhandia 8 year(s) ago

Answer

A Company is holding 99% shares in the B and C Company. Is 'A' Company required to prepare consolidated financial statement of its Read More
A Company is holding 99% shares in the B and C Company. Is 'A' Company required to prepare consolidated financial statement of its Subsidiaries B & C ?

Compliances

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Views (839)
Posted By: Sreenivas babu 9 year(s) ago

Answer

A private limited having two directors who are also the shareholders. now a criminal case is filed against one of the directors by Read More
A private limited having two directors who are also the shareholders. now a criminal case is filed against one of the directors by the second director. how a new director to be appointed in this case so that the business of the company is carried out without hindrance. Thanx & Regards

Board Meeting

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Views (822)
Posted By: P banerjee 9 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

Section 230- Power to compromise or make arrangements with creditors and members.

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Views (802)
Posted By: Prerna kapoor 8 year(s) ago

Answer

Company is not operating since 3 years, it was incorporated 5 years back. It has not even filed annual statements since 3 years wi Read More
Company is not operating since 3 years, it was incorporated 5 years back. It has not even filed annual statements since 3 years with ROC. Now, it was to remove its name from ROC records. How can it do so? it dosent have any liabilities, creditors or borrowings?

Winding-up

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Views (761)
Posted By: Procs 7 year(s) ago

Answer

As per the proviso to sec 129(3) Subsidiary company included Associates Companies also. Further as per regulation 16 (1) (c ) of S Read More
As per the proviso to sec 129(3) Subsidiary company included Associates Companies also. Further as per regulation 16 (1) (c ) of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 Definition “material subsidiary” which mean a subsidiary, whose income or net worth exceeds twenty percent of the consolidated income or net worth respectively, of the listed entity and its subsidiaries in the immediately preceding accounting year. So Does consolidated income or consolidated net worth mean consolidated income as per Section 129 (3) as per Companies Act 2013 or Consolidation is required for Holding and Subsidiary only Excluding Associates Company for the purpose of interpretation of regulation?

Associate

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Views (755)
Posted By: Prerna kapoor 8 year(s) ago

Answer

In Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Amendment Rules, 2017, in Rule 6(3)( Read More
In Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Amendment Rules, 2017, in Rule 6(3)(d) , in case where shares are held in physical form under (iv) the following is given ' after issue of duplicate share certificates, the company shall inform the depository by way of corporate action to convert the duplicate share certificates into DEMAT form and transfer in favour of the Authority.' Query: An unlisted company which has not registered with any depository for holding shares in demat form and hence has not given option to share holders to hold shares in demat form and all shares are held in physical form, In the above case, for complying with IEPF Rules as per Rule 6(3)(d)(iv) in order to transfer unclaimed shares to IEPF, should the company has to compulsorily get themselves registered with a depository and offer its entire shares the option to hold in demat form and then transfer such of those unclaimed shares from physical to demat form to the credit of IEPF authority. Also as per Rule 7 (4) After verification of the entitlement of the claimant- (b) to the shares claimed, the Authority shall issue a refund sanction order with the approval of the Competent Authority and shall credit the shares to the DEMAT account of the claimant to the extent of the claimant’s entitlement. Query: When the shares of the unlisted company itself is not demat form and company has not offered such facility to shareholders, how the claimant shareholder can hold shares refunded by the Authority in demat account. Requesting your goodself to please clarify

Compliances

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Views (678)
Posted By: Mukund govindharajan 7 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?

Section 73- Prohibition on acceptance of deposits from public.

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

Answer

Dear Friends, What is the NPC Code for Chit Fund Co. Is it 99711290 = Financial and related services à Deposit services à De Read More
Dear Friends, What is the NPC Code for Chit Fund Co. Is it 99711290 = Financial and related services à Deposit services à Deposit services to other depositors n.e.c

Implementation of new law

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Views (5009)
Posted By: Vithal kumar pingali 9 year(s) ago

Answer

Conversion of Loan into capital[Sec 62(3) Sec 62(3) states if company takes a loan on the term that loan will be converted int Read More
Conversion of Loan into capital[Sec 62(3) Sec 62(3) states if company takes a loan on the term that loan will be converted into share capital & such an option have been approved before raising of loan by a special resolution, subscribed capital can be increased. Procedure for conversion of loan into shares: i. Approve terms of loan by passing special resolution before taking of loan & file special resolution in E-Form MGT14 within 30 days. ii. Convert loan into shares by passing resolution in Board Meeting & File Eform PAS3 for allotment of shares within 30 days. iii. Also issue share certificate by passing Board resolution & file Eform MGT 14 within 30 days for issue of shares. My query: Can we convert Loan taken by a company before the commencement of the CA, 2013 to shares and file pas-3 form?

Compliances

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Views (4534)
Posted By: Kamal 9 year(s) ago

Answer

1. Will ‘loan from own shareholders taken by a private limited nbfc’ come under the definition of Public Fund as per RBI Circ Read More
1. Will ‘loan from own shareholders taken by a private limited nbfc’ come under the definition of Public Fund as per RBI Circular dated 01.09.2016 vide chapter II point 3 (xxv), though deposit/loan from own shareholders is not regarded “Public Deposit” and there is no outside fund, loan belongs to shareholders of company themselves. 2. Will ‘Overdraft against own Bank FDR taken by a private limited nbfc’ come under the definition of Public Fund/Bank finance as per RBI Circular dated 01.09.2016, whereas Bank FDR is not considered even as Financial Assets as per Rbi circular RBI/2011-12/446 DNBS (PD)CC.No.259 /03.02.59/2011-12 dated March 15, 2012 , since this Overdraft is only against NBFC’s own fund deposit as FDR to save interest, and there is no real Bank Finance, means any body can take Overdraft against FDR without going through any process as in other bank Finance, where one has to be understood of having character of three C’s i.e. Capability, Capacity and Character. In another words, If there is no FDR, there will be no overdraft, means no real Bank Finance. 3. Will loan from ‘Holding private limited NBFC’ to its ‘associate private limited NBFC’ and vice versa or ‘loan within group entities to one another’ come under ‘inter corporate deposit’ under Public Fund as per RBI Circular dated 01.09.2016, since in real sense there is no outside Public Fund is involved.

RBI

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Views (4244)
Posted By: Pawan mittal 5 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?

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

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

Answer

Can a Private Limited Company issue convertible warrants to its Promoters Directors? If yes. Whether there are any provisions simi Read More
Can a Private Limited Company issue convertible warrants to its Promoters Directors? If yes. Whether there are any provisions similar to Regulation 75 & Regulation 77 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009, regarding tenure of convertible securities and Payment of consideration which are applicable to Private Limited Company?

Private placement

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Views (3733)
Posted By: Vikram 9 year(s) ago

Answer

AGM IS FIXED ON 30TH SEPTEMBER, 2015, WHAT CAN BE CUT OFF DATE AND OPENING AND CLOSING OF E-VOTING PROCESS. Read More
AGM IS FIXED ON 30TH SEPTEMBER, 2015, WHAT CAN BE CUT OFF DATE AND OPENING AND CLOSING OF E-VOTING PROCESS.

AGM

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Views (3262)
Posted By: Ravinder 9 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.

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

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Views (2867)
Posted By: Srinivasaraghavan 10 year(s) ago

Answer

Would an issue of unsecured non convertible debentures on private placement basis by a listed company fall under the definition of Read More
Would an issue of unsecured non convertible debentures on private placement basis by a listed company fall under the definition of deposits??

Private placement

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Views (2828)
Posted By: Shrenik 9 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.

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

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

Answer

Dear Sir! does director's retirement by rotation applicable to govt. companies also? Read More
Dear Sir! does director's retirement by rotation applicable to govt. companies also?

Director

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Views (2773)
Posted By: Vishal arora 10 year(s) ago

Answer

Whether the disclosure of holding the designation of trustee in a trust or membership or designation in a society required to be d Read More
Whether the disclosure of holding the designation of trustee in a trust or membership or designation in a society required to be disclosed in MBP-1?

Disclosures

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Views (2757)
Posted By: Piyush 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?

Section 14- Alteration of articles.

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Views (2741)
Posted By: Manoj kumar koyalkar 9 year(s) ago

Answer

A Company covered under CSR wants to distribute scholarships to poor and deserving students. Whether the expenditure incurred on f Read More
A Company covered under CSR wants to distribute scholarships to poor and deserving students. Whether the expenditure incurred on function organized for distributing scholarship will be covered under CSR budget ?

CSR

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Views (2711)
Posted By: Hardam singh 9 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?

Section 71- Debentures.

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Views (2678)
Posted By: Khushboo khatreja 5 year(s) ago

Answer

A public limited company [commercial company] holds 20% equity capital in a Section 8 company, promoted by the same public company Read More
A public limited company [commercial company] holds 20% equity capital in a Section 8 company, promoted by the same public company for CSR activities. Query: Whether accounts of section 8 company need to be consolidated with promoter company? How to consolidate? Section 8 company prepares I&E account or P&L?

Accounts

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Views (2608)
Posted By: Atul kulkarni 9 year(s) ago

Answer

Would an issue of unsecured non convertible debentures on private placement basis by a listed company be considered as issue of de Read More
Would an issue of unsecured non convertible debentures on private placement basis by a listed company be considered as issue of deposit??

Private placement

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Views (2598)
Posted By: Shrenik 9 year(s) ago

Answer

A public limited company [commercial company] holds 20% equity capital in a Section 8 company, promoted by the same public company Read More
A public limited company [commercial company] holds 20% equity capital in a Section 8 company, promoted by the same public company for CSR activities. Query: Whether accounts of section 8 company need to be consolidated with promoter company? How to consolidate? Section 8 company prepares I&E account or P&L?

Accounts

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Views (2546)
Posted By: Atul kulkarni 9 year(s) ago

Answer

Whether in Directors Report, Foreign Exchange Earnings and Exp to be given strictly on cash basis ? Read More
Whether in Directors Report, Foreign Exchange Earnings and Exp to be given strictly on cash basis ?

AGM

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Views (2546)
Posted By: Manouj agrawaal, fca, partner 9 year(s) ago

Answer

Please provide me the checklist of conducting AGM in a listed company. Read More
Please provide me the checklist of conducting AGM in a listed company.

AGM

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Views (2530)
Posted By: Bhoomika jain 9 year(s) ago

Answer

One of my comapny got incorporated on 31.01.2014 what will be the last date to hold First AGM Read More
One of my comapny got incorporated on 31.01.2014 what will be the last date to hold First AGM

AGM

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Views (2529)
Posted By: Ankit 9 year(s) ago

Answer

is AOC 4 applicable to producer companies Read More
is AOC 4 applicable to producer companies

AGM

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Views (2516)
Posted By: Arpitha 9 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?

Section 139- Appointment of auditors.

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Views (2504)
Posted By: Gurpreet kaur 6 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

Section 62- Further issue of share capital.

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Views (2491)
Posted By: Arun rajabhau joshi 8 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

Section 172- Penalty.

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Views (2474)
Posted By: Himanshu 9 year(s) ago

Answer

Director of Unlisted public limited deposited money with the Company as a deposit. Now company wants to issue shares in lieu of de Read More
Director of Unlisted public limited deposited money with the Company as a deposit. Now company wants to issue shares in lieu of deposits. Can a company issue shares to such Director ? If yes how the conditions of separate bank account, PAS 4 and 5 can be fulfilled ?

Private placement

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Views (2471)
Posted By: Atul kulkarni 9 year(s) ago

Answer

whether in case of small company AOC 4 is required to be certified by Professionals Read More
whether in case of small company AOC 4 is required to be certified by Professionals

Accounts

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Views (2365)
Posted By: Purushottam lal agrawal 9 year(s) ago

Answer

Our company has already received 72% votes in favour through e-voting for resolutions to be passed at an AGM. Is it still mandator Read More
Our company has already received 72% votes in favour through e-voting for resolutions to be passed at an AGM. Is it still mandatory to give the shareholders an option for physical voting although we have requisite percentage of votes cast in favour of resolutions?

SEBI

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Views (2365)
Posted By: Rajesh agrawal 10 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?

Section 96- Annual general meeting.

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

Answer

What is the registration fees for incorporating a private limited company with one lakh authorised capital under the new act.I am Read More
What is the registration fees for incorporating a private limited company with one lakh authorised capital under the new act.I am asking as the fees for small company is Rs.2000 and other than small company is Rs.5000. Also what will be the fees for filing MOA and AOA?

Incorporation

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Views (2313)
Posted By: Vithal kumar pingali 10 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 ?

Section 73- Prohibition on acceptance of deposits from public.

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Views (2306)
Posted By: Vasant patel 10 year(s) ago

Answer

A Pvt Comany wants to issue shares on preferential placement basis. The Book value of the shares comes to Rs. 20/- per share and v Read More
A Pvt Comany wants to issue shares on preferential placement basis. The Book value of the shares comes to Rs. 20/- per share and value as per discounted cash flow comes to Rs. 40/- per share. Can the Comapny issue shares @ a price of Rs. 160/- per share if any shareholder is willing to buy it?

Private placement

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Views (2292)
Posted By: Hardam singh 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 ?

Section 188- Related party transactions.

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Views (2288)
Posted By: Vasant patel 10 year(s) ago

Answer

Is there any format of application form available for subscription of non convertible redeemable cumulative preference shares unde Read More
Is there any format of application form available for subscription of non convertible redeemable cumulative preference shares under private placement ?

Private placement

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Views (2262)
Posted By: Mohan srinivasan 9 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.

Section 73- Prohibition on acceptance of deposits from public.

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Views (2262)
Posted By: Abhishek dad 8 year(s) ago

Answer

Can a notice of Annual General Meeting contain a notice of postal Ballot as well under companies act 2013? Read More
Can a notice of Annual General Meeting contain a notice of postal Ballot as well under companies act 2013?

AGM

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Views (2251)
Posted By: Prerna kapoor 8 year(s) ago

Answer

We are a public company unlisted company . We have changed our method of Depriciaiton from WDV to Starightline method as per the n Read More
We are a public company unlisted company . We have changed our method of Depriciaiton from WDV to Starightline method as per the new companies act 2013 applicable on useful life of the asset from 1.04.2014. Due to this there is change in the carrying cost of the asset where surplus in profit and loss account arises to the the extent of Rs. 7 Crores My question is whether this amount is to be excluded from profits for the calculation of net profits for managerial remuneration under sec 198 .

Remuneration to KMP

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Views (2248)
Posted By: K suresh babu 9 year(s) ago

Answer

Are there any full-fledged Company Secretarial Software suite available in India? Read More
Are there any full-fledged Company Secretarial Software suite available in India?

Compliances

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Views (2241)
Posted By: Shiv kumaran 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.

Section 123- Declaration of dividend.

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Views (2221)
Posted By: Ravi 9 year(s) ago

Answer

Can CA and Cs be partners, if they are Statutory Auditors and Secretarial Auditors respectively of the same Company? And if CS is Read More
Can CA and Cs be partners, if they are Statutory Auditors and Secretarial Auditors respectively of the same Company? And if CS is pre-certifying the forms?

Company Secretary

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Views (2181)
Posted By: Vithal kumar pingali 9 year(s) ago

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.

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

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Views (2181)
Posted By: Rohit 5 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?

Section 96- Annual general meeting.

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Views (2175)
Posted By: Prerna kapoor 9 year(s) ago

Answer

whether in case of small company AOC 4 is required to be certified by Professionals Read More
whether in case of small company AOC 4 is required to be certified by Professionals

Accounts

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Views (2149)
Posted By: Purushottam lal agrawal 9 year(s) ago

Answer

Can profit on sale of land be considered for profit for the purpose of contribution to CSR? Read More
Can profit on sale of land be considered for profit for the purpose of contribution to CSR?

CSR

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Views (2149)
Posted By: Kamlesh 9 year(s) ago

Answer

can a sole member cum director of OPC give interest free loan to OPC. If yes, whether OPC will be required to file MGT 14 for fili Read More
can a sole member cum director of OPC give interest free loan to OPC. If yes, whether OPC will be required to file MGT 14 for filing the copy of contract with ROC within 15 days as required u/s 193 of the Act?

One Person Company

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Views (2099)
Posted By: Neha mittal 9 year(s) ago

Answer

Whether in a Private Company consolidation financial statement is mandatory if having wholly owned subsidiary company or associate Read More
Whether in a Private Company consolidation financial statement is mandatory if having wholly owned subsidiary company or associate Company ?

Compliances

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Views (2079)
Posted By: Arun rajabhau joshi 8 year(s) ago

Answer

whether in case of small company AOC 4 is required to be certified by Professionals Read More
whether in case of small company AOC 4 is required to be certified by Professionals

Accounts

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Views (2078)
Posted By: Purushottam lal agrawal 9 year(s) ago

Answer

In a 100% State Government Company, all Directors are appointed by the State Government. Apart from full time Directors they are Read More
In a 100% State Government Company, all Directors are appointed by the State Government. Apart from full time Directors they are also appointing Non Whole Time Directors (NWTD) from other Companies in the same sector, for constituting Audit Committee (under old Act). Can these NWTDs now be re-designated as Independent Directors, pursuant to the exemptions given for 149(6)(a) and 149(6)(c).

Independent Director

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Views (2074)
Posted By: Vithal kumar pingali 9 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?

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

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Views (2065)
Posted By: Mahashweta pamnani 5 year(s) ago

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.

Compliances

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Views (2062)
Posted By: Rohit 5 year(s) ago

Answer

process of transfer of share of pvt ltd Read More
process of transfer of share of pvt ltd

Private placement

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Views (2062)
Posted By: Anshul mittal 10 year(s) ago

Answer

Does this forum permits seeking clarification on e forms to be submitted to MCA? Read More
Does this forum permits seeking clarification on e forms to be submitted to MCA?

Implementation of new law

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Views (2043)
Posted By: V. maslekar 9 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?

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

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

Answer

matrix applicable New company act provision Vs for a private company Read More
matrix applicable New company act provision Vs for a private company

Implementation of new law

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Views (2024)
Posted By: Mrattunjay 10 year(s) ago

Answer

ESOP issued to foreign subsidiary has been vested and during the time of allotment, can i get the excercise price & related perqui Read More
ESOP issued to foreign subsidiary has been vested and during the time of allotment, can i get the excercise price & related perquisite tax in INR or the employees has to deposit in USD? or exercise price should be in INR & tax amount to be collected in US? Which tax to be deducted, it is as per US taxation or Indian taxation.

Private placement

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Views (1994)
Posted By: Rajapanduranga 9 year(s) ago

Answer

[CS_yahoogroups) PROBLEMS IN IMPLEMENTATION OF LAW Actions C S GROUP 16:45PM Keep this message at the top of your inbo Read More
[CS_yahoogroups) PROBLEMS IN IMPLEMENTATION OF LAW Actions C S GROUP 16:45PM Keep this message at the top of your inbox Groups To: C S GROUP Sir/Madam, Can anybody present the following matter before the "Company Law Committee" One Co-operative society wants to get it registered as a Limited Company u/s 366 of the Companies Act 2013. In this connection I went to ROC for discussion in relation to format of approval of majority of members of co-operative society and notice for such registration to be given by Co-operative society in News paper. But ROC informed me that such registration under Part I of Chapter XXI has been stopped, since there is ambiguity in the Act and the rules notified for the said chapter. ROC also informed me that there is an internal Order of Higher authorities for not registering such companies till further orders. I think this is the problem in implementing the law. You are requested to present before the Company Law Committee.

Incorporation

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Views (1987)
Posted By: Atul kulkarni 9 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 ?

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

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Views (1968)
Posted By: Barkha 6 year(s) ago

Answer

WHAT BENEFITS A COMPANY WILL ENJOY ONCE IT OBTAINS A ‘ DORMANT COMPANY STATUS’. WILL IT GET EXEMPTION FROM YEARLY ROC COMPLIANC Read More
WHAT BENEFITS A COMPANY WILL ENJOY ONCE IT OBTAINS A ‘ DORMANT COMPANY STATUS’. WILL IT GET EXEMPTION FROM YEARLY ROC COMPLIANCE FORMALITIES UNTIL IT BECOMES A REGULAR COMPANY

Dormant Company

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Views (1964)
Posted By: Krishna kumar gaggar 10 year(s) ago

Answer

Whether unsecured Non Convertible debentures issued by unlisted public limited company are considered as deposit or not? Read More
Whether unsecured Non Convertible debentures issued by unlisted public limited company are considered as deposit or not?

Private placement

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Views (1958)
Posted By: Ramnik bhimani 9 year(s) ago

Answer

Please give me the procedure for Issue of Share of Producer company ? more than 200 hunderd members ? Read More
Please give me the procedure for Issue of Share of Producer company ? more than 200 hunderd members ?

Private placement

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Views (1958)
Posted By: Satish kshirsagar 9 year(s) ago

Answer

what will be new format of annual return as per Companies act 2013 for the current FY Read More
what will be new format of annual return as per Companies act 2013 for the current FY

Governance

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Views (1937)
Posted By: Subhash 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-

Section 62- Further issue of share capital.

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

Answer

if Notice of EGM has been issued, can we call off EGM? Read More
if Notice of EGM has been issued, can we call off EGM?

Shareholders Meeting

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Views (1928)
Posted By: Pooja garg 9 year(s) ago

Answer

can any one share format of Directors Report and Notice to shareholders for AGM. Read More
can any one share format of Directors Report and Notice to shareholders for AGM.

Board Meeting

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Views (1919)
Posted By: Aishwarya 6 year(s) ago

Answer

Can someone please provide me with a yearly compliance checklist under the New Companies Act, 2013? Read More
Can someone please provide me with a yearly compliance checklist under the New Companies Act, 2013?

Governance

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Views (1918)
Posted By: Swetha 11 year(s) ago

Answer

Dear Sir, Rule 14(1)(b) of Companies (prospectus of securities) Rules, 2014 with regard to private placement states that pvt. plac Read More
Dear Sir, Rule 14(1)(b) of Companies (prospectus of securities) Rules, 2014 with regard to private placement states that pvt. placement offer letter accompanied by application form shall be sent " EITHER IN WRITING OR IN E-MODE". What does the word "IN WRITING" states? , does it includes delivery of offer letter"BY HAND"?

Private placement

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Views (1918)
Posted By: Vishal arora 10 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 !!

Section 129- Financial statement.

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

Answer

Under Companies Act, 1956, a trust purchased shares of a Company through its trustee. Now after applicability of Companies Act, 20 Read More
Under Companies Act, 1956, a trust purchased shares of a Company through its trustee. Now after applicability of Companies Act, 2013, trust wants to demateralise shares its own name. Is it possible? If yes, what is the procedure and what about the share certificate previously issued in the name of trustee on behalf of trust?

Fund raising

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Views (1911)
Posted By: Vikram jeet singh 10 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

Section 188- Related party transactions.

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Views (1910)
Posted By: T.r.chadha & co. 9 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?

Section 56- Transfer and transmission of securities.

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Views (1895)
Posted By: Sachin 5 year(s) ago

Answer

I would like to know the procedure for changing the name of a Section 8 company after obtaining the name availability. Whether RD Read More
I would like to know the procedure for changing the name of a Section 8 company after obtaining the name availability. Whether RD1 or GNL1 is applicable or move straight away for registration of new name?

Governance

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Views (1892)
Posted By: Padmavathi k 9 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 ?

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

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Views (1873)
Posted By: Barkha 6 year(s) ago

Answer

one of my friend running opc company and need to transfer the ownership to stranger. If it is yes what are all the procedure to b Read More
one of my friend running opc company and need to transfer the ownership to stranger. If it is yes what are all the procedure to be complied.

One Person Company

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Views (1859)
Posted By: Aishwarya 6 year(s) ago

Answer

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

Section 5- Articles.

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Views (1846)
Posted By: Pradeep arora 9 year(s) ago

Answer

One Private Limited Company have appointed “Voluntarily” (Not Mandatorily as required in terms of Section 203 of the Act) one offi Read More
One Private Limited Company have appointed “Voluntarily” (Not Mandatorily as required in terms of Section 203 of the Act) one office of the Company as CEO who is not a Director of the Company. Kindly clarify the following :- 01. Will he term and considered as KMP in term of Provision of Section 2(51) of the Act ? 02. Will he termed and considered as officer in default in terms of Provision of section 2(60) of the Act ? 03. Whether the Company require to File Form DIR-12 in respect of his appointment as CEO ? 04. Is it mandatory to disclose details of appointment of such CEO in Board’s Report in terms of section 134 (3)(q) read with sub-rule 5 of rule 8 of the Companies (Accounts) Rules, 2015 ? 04. Is it mandatory to sign Financial Statements by him in terms of section 134(1) of the Act ?

KMP

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Views (1845)
Posted By: Vasant patel 5 year(s) ago

Answer

Do companyneed to file ADT-1 for ratification of Auditors appointment for 1 year? Read More
Do companyneed to file ADT-1 for ratification of Auditors appointment for 1 year?

Auditors

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Views (1833)
Posted By: Siva naga vijay babu guggilam 9 year(s) ago

Answer

Can a company registered with multiple object, like construction, food processing activity, trading etc. ? If yes than kindly prov Read More
Can a company registered with multiple object, like construction, food processing activity, trading etc. ? If yes than kindly provide reference of Section, notification or circular.

Incorporation

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Views (1829)
Posted By: Amitesh ravi 8 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

Section 42 - Issue of shares on private placement basis.

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Views (1819)
Posted By: Purushottam lal agrawal 9 year(s) ago

Answer

Please clarify - Can a Public Limited closely held company appoint two brothers as 2 Independent Directors of the company as per S Read More
Please clarify - Can a Public Limited closely held company appoint two brothers as 2 Independent Directors of the company as per Section 149 (4) of The Companies Act, 2013 and applicable rules? The Company turnover is more than Rs. 100.0 Crores.

Independent Director

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Views (1819)
Posted By: Sunil kumar agrawal 9 year(s) ago

Answer

Dear Experts, One of my client running a proprietorship firm and possessing of land, building, plant and machinery in the propr Read More
Dear Experts, One of my client running a proprietorship firm and possessing of land, building, plant and machinery in the proprietor name and recently he has formed private limited company and having 50% of shares and remaining allotted to his wife and sons. Now my question is they wants to take over the proprietorship concern i.e. all assets and liability of the existing concern into private limited company. Whereas we have not mentioned these transaction in the object clause. Can anyone provide the procedure to be followed without facing any consequences in future. and they wants to avoid the capital gain tax under income tax act. Please share the step by step procedures.

Incorporation

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Views (1812)
Posted By: Aishwarya 8 year(s) ago

Answer

anyone done conversion of Private Company into OPC??... Please guide... Read More
anyone done conversion of Private Company into OPC??... Please guide...

One Person Company

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Views (1807)
Posted By: Bijal 9 year(s) ago

Answer

WHETHER VALUATION REPORT OF SHARES IS REQUIRED FOR BUY BACK OF SHARES BY UNLISTED PUBLIC COMPANY Read More
WHETHER VALUATION REPORT OF SHARES IS REQUIRED FOR BUY BACK OF SHARES BY UNLISTED PUBLIC COMPANY

Implementation of new law

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Views (1803)
Posted By: Ravinder 9 year(s) ago

Answer

While incorporating details of auditor in Form 23AC- XBRL, membership no. of CA is showing as invalid. Reason being said CA has re Read More
While incorporating details of auditor in Form 23AC- XBRL, membership no. of CA is showing as invalid. Reason being said CA has resigned from CA firm as well as surrendered CA no. on June 30, 14. However, financials signed by her as on Mar 31 2014. Hence as on Mar 31, 14 she was partner of that CA Firm as well as holding CA no. Problem that our Company is facing is that we are unable to file XBRL for which last date is Sep 24, 14. This being our technical problem we addrressed it to MCA and ROC office also.

Accounts

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Views (1800)
Posted By: Bhavita nandu 10 year(s) ago

Answer

Under CA 2013 Consolidation of financial statement for companies having subsidiaries is mandatory. Please let me know if the accou Read More
Under CA 2013 Consolidation of financial statement for companies having subsidiaries is mandatory. Please let me know if the accounts of subsidiary companies are to be annexed to the accounts of the holding company and published? Is it sufficient if consolidated financial statements are published and stand alone accounts of each subsidiary need not be printed and published in the Annual Report.

Accounts

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Views (1795)
Posted By: Chitra 9 year(s) ago

Answer

Can anyone please provide a compliance checklist useful for Director of a Private Limited Company? There are many time bound ev Read More
Can anyone please provide a compliance checklist useful for Director of a Private Limited Company? There are many time bound event based compliances in the Act now and it will be useful if we can provide the Directors of Client Company with a referencer or compliance checklist.

Compliances

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Views (1795)
Posted By: Vithal kumar pingali 9 year(s) ago

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.

Section 460- Condonation of delay in certain cases.

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Views (1790)
Posted By: Neha mittal 9 year(s) ago

Answer

The Audit for our Company was carried out by an Audit Firm. Recently, the Audit Firm got dissolved. My Query is as A company, what Read More
The Audit for our Company was carried out by an Audit Firm. Recently, the Audit Firm got dissolved. My Query is as A company, what is our responsibility in such a situation? whether any compliances have to be made on Part of the Company?

Auditors

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Views (1778)
Posted By: Kaushik d nahar 10 year(s) ago

Answer

Sir, In Private company, there is capital profit of Rs 25 Crore on sale of long term investment in FY 2014-2015 , Investment Pur Read More
Sir, In Private company, there is capital profit of Rs 25 Crore on sale of long term investment in FY 2014-2015 , Investment Purchased in FY 2009-2010. further there is loss from Business activities in FY 2014-2015. but above capital gain converts loss in huge net profit exceeding Rs 5 crore . my question is whether CSR is applicable in this Company on the basis of Net profit creteria. if yes then how. manoj kumar singh Mobile No.9999982606

CSR

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Views (1777)
Posted By: Manoj kumar singh 9 year(s) ago

Answer

Based on MCA circular 8/2014 and CSR rules, the CSR reporting in the directors report will not be applicable to a Company which ha Read More
Based on MCA circular 8/2014 and CSR rules, the CSR reporting in the directors report will not be applicable to a Company which has FY Jan – Dec 2014. The query is, are these companies whose FY have started prior to Apr 2014 required to spend any CSR budget in their FY 2014? Even if they spend, there is no reporting in their directors report for FY 2014. Query 2 is – Suppose a company is required to spend Rs.100 in a particular FY, was able to spend just Rs.60. The requirement is that Company shall give details of Rs.60 spent and the reason for not spending Rs.40 in the CSR report in the directors report. What will happen to Rs.40 that is unspent? Will it goes back to the business of the Company or needs to be spent in succeeding years. Please clarify with relevant provisions.

CSR

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Views (1776)
Posted By: Vijayamahantesh khannur 10 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

Section 76- Acceptance of deposits from public by certain companies.

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Views (1773)
Posted By: Himanshu 9 year(s) ago

Answer

As per Rule 4(2) of the Companies (Corporate Social Responsibility Policy) Rules, can we use LLP to under take CSR activity of the Read More
As per Rule 4(2) of the Companies (Corporate Social Responsibility Policy) Rules, can we use LLP to under take CSR activity of the comany?

CSR

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Views (1765)
Posted By: Ramnik bhimani 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.

Section 179- Powers of Board.

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

Answer

Is it mandatory for a person designated as Deputy CFO of a Company to sign the financial statements? Read More
Is it mandatory for a person designated as Deputy CFO of a Company to sign the financial statements?

Accounts

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Views (1759)
Posted By: Gurpreet kaur 6 year(s) ago

Answer

"B'' Company is Associate of "A" company which is a holding company of other companies also. B company is holding 21 % share in C Read More
"B'' Company is Associate of "A" company which is a holding company of other companies also. B company is holding 21 % share in C company. Whether "C" company is required to be consolidated to A Company

Accounts

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Views (1747)
Posted By: Sheejith 3 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? .

Section 197- Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits.

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Views (1747)
Posted By: Kanika gupta 10 year(s) ago

Answer

can any one share format of Directors Report and Notice to shareholders for AGM. Read More
can any one share format of Directors Report and Notice to shareholders for AGM.

Board Meeting

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Views (1746)
Posted By: Aishwarya 6 year(s) ago

Answer

There is no need to hold AGM for an OPC. So what should be the Date of AGM and the due date of AGM in AOC-4 and MGT-7 form? Read More
There is no need to hold AGM for an OPC. So what should be the Date of AGM and the due date of AGM in AOC-4 and MGT-7 form?

One Person Company

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Views (1737)
Posted By: Amardeepduggal 6 year(s) ago

Answer

Budget has categorically disallowed all amounts spent on CSR from Income. So there are only instances where CSR can be allowed as Read More
Budget has categorically disallowed all amounts spent on CSR from Income. So there are only instances where CSR can be allowed as expense. a) The assesse has to prove that the expense is directly relateed to his business or b) It should be covered under Sections 30 to 36 of the IT Act. Can anyone tell me if there are any CSR expenses in Sec 30 to 36 which which aligns with Sec 135 read with Schedule VII of the CA 2013?.

CSR

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Views (1735)
Posted By: Lalitha kannan 10 year(s) ago

Answer

Hi I wanted to know the filing/ compliance to be done by Private companies within 30 days of incorporation. Like First Board Meet Read More
Hi I wanted to know the filing/ compliance to be done by Private companies within 30 days of incorporation. Like First Board Meeting, Appointment of Auditors, INC 21, and other such compliance. Also, under the resource centre, can i find out the monthly/ quaterly/ yearly compliance to be done, in addition to specific compliance?

Incorporation

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Views (1735)
Posted By: Sashank 9 year(s) ago

Answer

I have received licence for section 25 company in first week of April 2014..How to incorporate it further as MOA/AOA and other doc Read More
I have received licence for section 25 company in first week of April 2014..How to incorporate it further as MOA/AOA and other documents have been approved as per 1956 Act

Incorporation

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Views (1731)
Posted By: Ankit kishore sinha 10 year(s) ago

Answer

Please let us know the procedure and the documents required for allotment of shares at premium value. Read More
Please let us know the procedure and the documents required for allotment of shares at premium value.

Private placement

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Views (1728)
Posted By: Aishwarya 9 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?

Section 188- Related party transactions.

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Views (1723)
Posted By: Kamdhenu ispat limited 10 year(s) ago

Answer

Dear Friends, I am having some confusion on how to distinguish between Forms RD-1&2, CG-1&2, GNL-1&2 ... In which instance whi Read More
Dear Friends, I am having some confusion on how to distinguish between Forms RD-1&2, CG-1&2, GNL-1&2 ... In which instance which form has to be filed. For e.g. In case of Condone Delay Petition, should we file RD-1 / RD-2 or CG-1 / CG-2? If there are any checklists for determining which form to file in which situation, can you share it?

Implementation of new law

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Views (1718)
Posted By: Vithal kumar pingali 9 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

Section 125- Investor Education and Protection Fund.

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

Answer

One Private Limited Company have appointed “Voluntarily” (Not Mandatorily as required in terms of Section 203 of the Act) one offi Read More
One Private Limited Company have appointed “Voluntarily” (Not Mandatorily as required in terms of Section 203 of the Act) one office of the Company as CEO who is not a Director of the Company. Kindly clarify the following :- 01. Will he term and considered as KMP in term of Provision of Section 2(51) of the Act ? 02. Will he termed and considered as officer in default in terms of Provision of section 2(60) of the Act ? 03. Whether the Company require to File Form DIR-12 in respect of his appointment as CEO ? 04. Is it mandatory to disclose details of appointment of such CEO in Board’s Report in terms of section 134 (3)(q) read with sub-rule 5 of rule 8 of the Companies (Accounts) Rules, 2015 ? 04. Is it mandatory to sign Financial Statements by him in terms of section 134(1) of the Act ?

KMP

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Views (1708)
Posted By: Vasant patel 5 year(s) ago

Answer

What are the New Concepts created under New Law ? Read More
What are the New Concepts created under New Law ?

Implementation of new law

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Views (1703)
Posted By: Vriti bohra 10 year(s) ago

Answer

PAS-6 is not release for private placement offer . please explain Read More
PAS-6 is not release for private placement offer . please explain

Private placement

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Views (1695)
Posted By: Sapna tomar 9 year(s) ago

Answer

I have received a query from ROC that INC-8 should be on stamp paper and Page numbering on MOA & AOA is missing. Please help me in Read More
I have received a query from ROC that INC-8 should be on stamp paper and Page numbering on MOA & AOA is missing. Please help me in this matter whether Page numbering should be on header or footer of MOA / AOA and What should be the value of stamp paper for INC-8.

Incorporation

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Views (1689)
Posted By: Dhavneesh gupta 10 year(s) ago

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

Section 88- Register of members, etc.

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

Answer

RESOLUTION UNDER SEC 100 AND 169 OF THE NEW ACT FOR REMOVAL OF DIRECTOR Read More
RESOLUTION UNDER SEC 100 AND 169 OF THE NEW ACT FOR REMOVAL OF DIRECTOR

Director

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Views (1683)
Posted By: Reena 10 year(s) ago

Answer

before which court can Iile prosection under section 452 of the new companies act Read More
before which court can Iile prosection under section 452 of the new companies act

Penalties

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Views (1682)
Posted By: Dawood 9 year(s) ago

Answer

I have received licence for section 25 company in first week of April 2014..How to incorporate it further as MOA/AOA and other doc Read More
I have received licence for section 25 company in first week of April 2014..How to incorporate it further as MOA/AOA and other documents have been approved as per 1956 Act

Incorporation

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Views (1676)
Posted By: Ankit kishore sinha 10 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

Section 92- Annual return.

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Views (1674)
Posted By: Joshua dsouza 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?

Section 186- Loan and investment by company.

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Views (1670)
Posted By: Sridhar 8 year(s) ago

Answer

THE COMPANY WAS INCORPORATED IN THE YEAR 2003 UNDER THE COMPANIES ACT, 1956 AS A SPV. SPECIAL PURPOSE IS NOW OVER AND COMPANY WANT Read More
THE COMPANY WAS INCORPORATED IN THE YEAR 2003 UNDER THE COMPANIES ACT, 1956 AS A SPV. SPECIAL PURPOSE IS NOW OVER AND COMPANY WANTS TO ALTER OBJECT CLAUSE. WHETHER A WHOLE NEW SET OF MOA IS TO BE ADOPTED OR ONLY OBJECT CLAUSE IS TO BE CHANGED. PLEASE ADVISE.

Implementation of new law

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Views (1665)
Posted By: Ravinder 9 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

Section 185- Loan to directors, etc.

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Views (1664)
Posted By: Bhasi 11 year(s) ago

Answer

Can u pl give us list of provisions which have now become applicable to private limited companies and the same were exempted e Read More
Can u pl give us list of provisions which have now become applicable to private limited companies and the same were exempted earlier as per old act.

Implementation of new law

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Views (1661)
Posted By: Sandhya 10 year(s) ago

Answer

If a company allot some shares to a PIO and he paid the money through his NRO a/c what requirements are to be complied with in res Read More
If a company allot some shares to a PIO and he paid the money through his NRO a/c what requirements are to be complied with in respect of RBI and AD bank. There is no receipt of foreign currency but the company will enter a foreign address in its register of members.

Private placement

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Views (1661)
Posted By: Anita 10 year(s) ago

Answer

what is Frequency of audit committee meeting of Deemed public company Read More
what is Frequency of audit committee meeting of Deemed public company

Auditors

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Views (1660)
Posted By: Pooja garg 8 year(s) ago

Answer

Does this forum permits seeking clarifications on e forms to be submitted to MCA? Read More
Does this forum permits seeking clarifications on e forms to be submitted to MCA?

Implementation of new law

Reply
Views (1657)
Posted By: V. maslekar 9 year(s) ago

Answer

Is there any change in incorporation process of Section 25 Company as per the new act? Read More
Is there any change in incorporation process of Section 25 Company as per the new act?

Incorporation

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Views (1655)
Posted By: Aishwarya 10 year(s) ago

Answer

If KMP is non resident during the previous year, we have to seek central government approval. What are the consequences/penalties Read More
If KMP is non resident during the previous year, we have to seek central government approval. What are the consequences/penalties if we dont go for central government approval??

KMP

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Views (1651)
Posted By: Gopika m n 10 year(s) ago

Answer

Pl. tell me whether page no. on MOA / AOA should be written on the face/head of each page or on the foot of each page. Read More
Pl. tell me whether page no. on MOA / AOA should be written on the face/head of each page or on the foot of each page.

Incorporation

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Views (1650)
Posted By: Dhavneesh gupta 10 year(s) ago

Answer

relative Read More
relative

Section 2 - Definitions

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Views (1648)
Posted By: Jasvir walia 8 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)

Section 186- Loan and investment by company.

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

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 ?

Section 164- Disqualifications for appointment of director.

Reply
Views (1636)
Posted By: Arun rajabhau joshi 7 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?

Section 186- Loan and investment by company.

Reply
Views (1633)
Posted By: Sridhar 8 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

Section 188- Related party transactions.

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Views (1632)
Posted By: Anita 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.

Section 180- Restrictions on powers of Board.

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

Answer

procedure to increase authorised capital Read More
procedure to increase authorised capital

One Person Company

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Views (1627)
Posted By: Purushottam lal agrawal 8 year(s) ago

Answer

IN CASE OF HOLDING COMPANY FORM AOC-1 IS REQUIRED TO BE FILED, WHETHER AOC-4 CFS IS COMPULSARY FOR A HOLDING COMPANY. PLEASE ALSO Read More
IN CASE OF HOLDING COMPANY FORM AOC-1 IS REQUIRED TO BE FILED, WHETHER AOC-4 CFS IS COMPULSARY FOR A HOLDING COMPANY. PLEASE ALSO ADVISE IF COMPANY IS REQUIRED TO ADOPT CONSOLIDATED FINANCIAL STATEMENTS AT AGM.

Compliances

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Views (1627)
Posted By: Ravinder 9 year(s) ago

Answer

In case of a private limited company whether MGT 14 for accounts approval is required to file with ROC? If it is not , then kindly Read More
In case of a private limited company whether MGT 14 for accounts approval is required to file with ROC? If it is not , then kindly provide the exemption notification number for our reference.

Small Company

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Views (1624)
Posted By: U l basak & co. 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.

Section 186- Loan and investment by company.

Reply
Views (1622)
Posted By: Kundan kumar jha 10 year(s) ago

Answer

What are the time lines to file half yearly periodic Eform DPT-3 Read More
What are the time lines to file half yearly periodic Eform DPT-3

Disclosures

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Views (1620)
Posted By: Mahashweta pamnani 5 year(s) ago

Answer

What is the Procedure for applying PAN and TAN by Company? And from where to fill Area Code & Business/Profession Code in Form INC Read More
What is the Procedure for applying PAN and TAN by Company? And from where to fill Area Code & Business/Profession Code in Form INC-29- Point 9?

Incorporation

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Views (1614)
Posted By: Company secretary 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?

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

Reply
Views (1613)
Posted By: Vikas kataria 6 year(s) ago

Answer

hello sir, i want clarification about depreciation charing as per new company act. Can we taken residual value @ 5 where assets w Read More
hello sir, i want clarification about depreciation charing as per new company act. Can we taken residual value @ 5 where assets was 100 % depreciated in earlier years. The notes of acts says- 7. From the date this Schedule comes into effect, the carrying amount of the asset as on that date— (a) shall be depreciated over the remaining useful life of the asset as per this Schedule; (b) After retaining the residual value, shall be recognised in the opening balance of retained earnings where the remaining useful life of an asset is nil.

Auditors

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Views (1609)
Posted By: Vivek mittal 9 year(s) ago

Answer

Do companyneed to file ADT-1 for ratification of Auditors appointment for 1 year? Read More
Do companyneed to file ADT-1 for ratification of Auditors appointment for 1 year?

Auditors

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Views (1609)
Posted By: Siva naga vijay babu guggilam 9 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.

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

Reply
Views (1606)
Posted By: Kamal 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?

Section 186- Loan and investment by company.

Reply
Views (1603)
Posted By: Sridhar 8 year(s) ago

Answer

Pl. tell me whether page no. on MOA / AOA should be written on the face/head of each page or on the foot of each page. Read More
Pl. tell me whether page no. on MOA / AOA should be written on the face/head of each page or on the foot of each page.

Incorporation

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Views (1601)
Posted By: Dhavneesh gupta 10 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??

Section 2 - Definitions

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Views (1599)
Posted By: V. ramkumar 9 year(s) ago

Answer

Please advise when to open and when to close the offer after shareholders meeting in case of private placement. Read More
Please advise when to open and when to close the offer after shareholders meeting in case of private placement.

Private placement

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Views (1595)
Posted By: Ravinder 9 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?

Section 197- Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits.

Reply
Views (1594)
Posted By: Anant jajodia 9 year(s) ago

Answer

Do companyneed to file ADT-1 for ratification of Auditors appointment for 1 year? Read More
Do companyneed to file ADT-1 for ratification of Auditors appointment for 1 year?

Auditors

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Views (1593)
Posted By: Siva naga vijay babu guggilam 9 year(s) ago

Answer

What are differences between roles and responsibilities of Managing Director, Chief Executive officer and Chairman of the Company Read More
What are differences between roles and responsibilities of Managing Director, Chief Executive officer and Chairman of the Company

Board of Directors

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Views (1591)
Posted By: Jai bhagchandani 9 year(s) ago

Answer

Whether the allotment of Unsecured Debenture to Foreign Body Corporate is exempted from the definition of Deposit Read More
Whether the allotment of Unsecured Debenture to Foreign Body Corporate is exempted from the definition of Deposit

Private placement

Reply
Views (1590)
Posted By: Sunil kumar singla 9 year(s) ago

Answer

Please advise when to open and when to close the offer after shareholders meeting in case of private placement. Read More
Please advise when to open and when to close the offer after shareholders meeting in case of private placement.

Private placement

Reply
Views (1584)
Posted By: Ravinder 9 year(s) ago

Answer

WHETHER A PRIVATE SUBSIDIARY COMPANY CAN BUY BACK ITS EQUITY SHARES Read More
WHETHER A PRIVATE SUBSIDIARY COMPANY CAN BUY BACK ITS EQUITY SHARES

Implementation of new law

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Views (1583)
Posted By: Ravinder 9 year(s) ago

Answer

Please advise when to open and when to close the offer after shareholders meeting in case of private placement. Read More
Please advise when to open and when to close the offer after shareholders meeting in case of private placement.

Private placement

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Views (1582)
Posted By: Ravinder 9 year(s) ago

Answer

Under CSR rules, "Net profit" means the net profit of a company as Per its financial statements. My question is whether Net profit Read More
Under CSR rules, "Net profit" means the net profit of a company as Per its financial statements. My question is whether Net profit means profit after tax or before tax?

CSR

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Views (1582)
Posted By: Gagandeep singh 10 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?

Section 71- Debentures.

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

Answer

can we appoint Whole Time Director since incorporation? Read More
can we appoint Whole Time Director since incorporation?

Section 196- Appointment of managing director, whole-time director or manager.

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Views (1576)
Posted By: Sachin soni 9 year(s) ago

Answer

Dear Members, I am looking for a checklist for allotment of debentures in a private limited Company. Request you to provide the sa Read More
Dear Members, I am looking for a checklist for allotment of debentures in a private limited Company. Request you to provide the same.

Private placement

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Views (1573)
Posted By: Vinay b l 9 year(s) ago

Answer

Pl. tell me whether page no. on MOA / AOA should be written on the face/head of each page or on the foot of each page. Read More
Pl. tell me whether page no. on MOA / AOA should be written on the face/head of each page or on the foot of each page.

Incorporation

Reply
Views (1570)
Posted By: Dhavneesh gupta 10 year(s) ago

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.

Section 366- Companies capable of being registered.

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Views (1568)
Posted By: Govind toshniwal 6 year(s) ago

Answer

CAN SHARE BUYBACK AT A DISCOUNT , MEANS LOWER THAN THE FACE VALUE BY THE UNLISTED PUBLIC COMPANY?? Read More
CAN SHARE BUYBACK AT A DISCOUNT , MEANS LOWER THAN THE FACE VALUE BY THE UNLISTED PUBLIC COMPANY??

Compliances

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Views (1565)
Posted By: Avijit 7 year(s) ago

Answer

There are two group companies hving all the three common directors, one is a limited closely held co and the other one is private. Read More
There are two group companies hving all the three common directors, one is a limited closely held co and the other one is private. Both the companies entered into a demerger scheme and the scheme has been approved by the high court.As per the scheme all the employees of the limited companies will be transferred to the private co. Do the word employees includes the all three whole time directors of the ltd. co. If yes, do we need to change the designation of the WTD to normal Directors in limited co and if yes which form is required to be filed, only DIR-12 for change in designation. When we start paying salary to the Directors from the private co in place of the limited co., do we need to file any form with ROC for that?

Director

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Views (1562)
Posted By: Anita 10 year(s) ago

Answer

As per the new Act if an Indian private limited Company is a subsidiary of a company which was incorporated outside India and list Read More
As per the new Act if an Indian private limited Company is a subsidiary of a company which was incorporated outside India and listed abroad then what are the additional compliance to be ensured in case of Indian Private limited company?

Implementation of new law

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Views (1560)
Posted By: Gopika m n 10 year(s) ago

Answer

Is ADT-1 required to be filed with ROC for appointment of first auditory by the Board of Directors of the Company? Read More
Is ADT-1 required to be filed with ROC for appointment of first auditory by the Board of Directors of the Company?

Auditors

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Views (1560)
Posted By: Prerna kapoor 8 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.

Section 139- Appointment of auditors.

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

Answer

A private limited Company wants to issue unsecured debentures which are convertible into preference shares within a period of 5 ye Read More
A private limited Company wants to issue unsecured debentures which are convertible into preference shares within a period of 5 years. Is Company allowed to do so ?

Fund raising

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Views (1556)
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.

Section 62- Further issue of share capital.

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Views (1555)
Posted By: Hardam singh 6 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.

Section 185- Loan to directors, etc.

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

Answer

Is anyone have sample of Debenture Trust Deed as per SH-12? Read More
Is anyone have sample of Debenture Trust Deed as per SH-12?

Private placement

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Views (1550)
Posted By: Radhika 9 year(s) ago

Answer

A company has 7 Directors which includes 5 Independent Directors, 1 Managing Director and 1 Non-Executive Non Independent Director Read More
A company has 7 Directors which includes 5 Independent Directors, 1 Managing Director and 1 Non-Executive Non Independent Director. In the above case, can the Non-Executive Non-Independent Director retire by rotation and reappointed every year at every Annual General Meeting.

Board of Directors

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Views (1547)
Posted By: Prerna kapoor 8 year(s) ago

Answer

Sir Please advise me: Query 1: A Pvt ltd is to be converted in to LLP. Whether Board Resolution by the Pvt ltd co. is sufficient Read More
Sir Please advise me: Query 1: A Pvt ltd is to be converted in to LLP. Whether Board Resolution by the Pvt ltd co. is sufficient for Conversion in to LLP or Extraordinary general meeting is further required to be conducted for the conversion? Query 2: E-form 18 under LLP act requires to obtain the Consent from Shareholders of the pvt ltd for conversion. Whether Simple consent by Shareholders by way of letter is sufficient or calling EGM is needed? Query 3: Whether MGT- 14 form is needed to be filed in both the above mentioned queries ? Thanking You With Regards

Shareholders Meeting

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Views (1545)
Posted By: Kamal 10 year(s) ago

Answer

Do companyneed to file ADT-1 for ratification of Auditors appointment for 1 year? Read More
Do companyneed to file ADT-1 for ratification of Auditors appointment for 1 year?

Auditors

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Views (1542)
Posted By: Siva naga vijay babu guggilam 9 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 ?

Section 73- Prohibition on acceptance of deposits from public.

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Views (1541)
Posted By: Ravi 9 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.

Section 180- Restrictions on powers of Board.

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

Answer

Some relaxation has been given to Private Cos (vide Notification dated 05-06-2015) for Sec-185 (Loan to Directors). Please let Read More
Some relaxation has been given to Private Cos (vide Notification dated 05-06-2015) for Sec-185 (Loan to Directors). Please let me know whether the criteria of relaxation should be judged from the point of view of the company giving loan or receiving proposed loan or both?

Implementation of new law

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Views (1540)
Posted By: Debabrata 8 year(s) ago

Answer

Whether details under Rule 5 (2) & 5(3) of Companies ( Appointment and Remuneration of Managerial personnel) 2014 to be disclosed Read More
Whether details under Rule 5 (2) & 5(3) of Companies ( Appointment and Remuneration of Managerial personnel) 2014 to be disclosed in Board 's report are applicable for private Limited Company?

Disclosures

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Views (1535)
Posted By: Balachandran 9 year(s) ago

Answer

Please send me a model of Agenda & Minutes of the First Board Meeting of a Private Company Read More
Please send me a model of Agenda & Minutes of the First Board Meeting of a Private Company

Board Meeting

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Views (1528)
Posted By: S.m.gupta 9 year(s) ago

Answer

Is there any secretarial standards notified to be followed by the companies Read More
Is there any secretarial standards notified to be followed by the companies

Implementation of new law

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Views (1528)
Posted By: Rajkumar 9 year(s) ago

Answer

Our company is a private company and wants to issue Preference Shares on private placement basis. Kindly let me know the procedure Read More
Our company is a private company and wants to issue Preference Shares on private placement basis. Kindly let me know the procedure for the same and also if you could provide with the event wise chart and draft documents for the same. Regards, Isha

Private placement

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Views (1527)
Posted By: Haryana 9 year(s) ago

Answer

Do companyneed to file ADT-1 for ratification of Auditors appointment for 1 year? Read More
Do companyneed to file ADT-1 for ratification of Auditors appointment for 1 year?

Auditors

Reply
Views (1524)
Posted By: Siva naga vijay babu guggilam 9 year(s) ago

Answer

What are the time lines to file half yearly periodic Eform DPT-3 Read More
What are the time lines to file half yearly periodic Eform DPT-3

Disclosures

Reply
Views (1523)
Posted By: Mahashweta pamnani 5 year(s) ago

Answer

Do companyneed to file ADT-1 for ratification of Auditors appointment for 1 year? Read More
Do companyneed to file ADT-1 for ratification of Auditors appointment for 1 year?

Auditors

Reply
Views (1519)
Posted By: Siva naga vijay babu guggilam 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

Section 77- Duty to register charges, etc.

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Views (1518)
Posted By: Arpitha 9 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"

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

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

Answer

ROC FEE CALCULATOR SHOWING NORMAL FILING FEE FOR COS WITH CAPITAL OF RS.1,00,000 @ 200 WHEREAS IT SHOULD BE RS.300.00 Read More
ROC FEE CALCULATOR SHOWING NORMAL FILING FEE FOR COS WITH CAPITAL OF RS.1,00,000 @ 200 WHEREAS IT SHOULD BE RS.300.00

Company Secretary

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Views (1510)
Posted By: Manjeet singh 10 year(s) ago

Answer

The following question relating to sec 146 for exemption to attend the GMs by Auditors; 1. For Exemption, Whether Special Resol Read More
The following question relating to sec 146 for exemption to attend the GMs by Auditors; 1. For Exemption, Whether Special Resolution or Ordinary Resolution is required? 2. For Exemption, only one time resolution is to be passed or it is to be passed in every GMs. ? 3. The resolution will be passed in the General meeting or resolution also mentioned in the Notice ?

Auditors

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Views (1510)
Posted By: Sanjay sharma 9 year(s) ago

Answer

We are pvt limited company operating from SEZ with share capital less than 20 crores. We will be appointing an executive director Read More
We are pvt limited company operating from SEZ with share capital less than 20 crores. We will be appointing an executive director shortly. In this connection, could you pl clarify the following: a) whether sec 196 is applicable for us b) whether sec 197 is applicable for us? c) do we need to file MR-1? d) Any other form that will be required to be filed in this regard apart from DIR-12 either on a monthly/quarterly/annual basis?

Director

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Views (1507)
Posted By: Tci chemicals india pvt ltd 10 year(s) ago

Answer

Pl. tell me whether page no. on MOA / AOA should be written on the face/head of each page or on the foot of each page. Read More
Pl. tell me whether page no. on MOA / AOA should be written on the face/head of each page or on the foot of each page.

Incorporation

Reply
Views (1492)
Posted By: Dhavneesh gupta 10 year(s) ago

Answer

In the past financial year accounts our Book Profit as per book of accounts is Rs X. During this period we have issued shares a Read More
In the past financial year accounts our Book Profit as per book of accounts is Rs X. During this period we have issued shares at a premium. The total share premium is Rs.Y. This amount of premium has been taken in the books as addition in the reserves. What will be the amount on which MAT will be calculated? A. Rs X , i.e the the amount of Book profit in books of accounts. OR B. Rs X+ Y. i.e. Book profits increased by the share premium.

Fund raising

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Views (1488)
Posted By: M b s agarwal 10 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

Section 203- Appointment of key managerial personnel.

Reply
Views (1487)
Posted By: Akansha 9 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

Section 62- Further issue of share capital.

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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?

Section 62- Further issue of share capital.

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

Answer

what is Frequency of audit committee meeting of Deemed public company Read More
what is Frequency of audit committee meeting of Deemed public company

Auditors

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Views (1484)
Posted By: Pooja garg 8 year(s) ago

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??

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

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Views (1478)
Posted By: Aastha khanna 6 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?

Section 56- Transfer and transmission of securities.

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

Answer

Hi, Is their any other compliance which need to be done by a company besides below mentioned:- 1. A Board Meeting need to Read More
Hi, Is their any other compliance which need to be done by a company besides below mentioned:- 1. A Board Meeting need to be called -with 30 days of Incorporation. 2. Appointment of Auditor -with 30 days of Incorporation, 3. Disclosure of Interest form MGT 1 - in the First Board Meeting 4. INC22 submission for situation of Company registered office -with 30 days of Incorporation, 5. Allotment of Shares -within 60 days of incorporation. Regards, diin_cs@denso.co.in

Incorporation

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Views (1468)
Posted By: Deepak 8 year(s) ago

Answer

As for as my understanding to remove auditor company has to call for the board meeting and pass the resolution for removal of the Read More
As for as my understanding to remove auditor company has to call for the board meeting and pass the resolution for removal of the auditor and file the form with the RD in the ADT 2 after approval of RD hold the general meeting and pass the special resolution and replace the auditor But my question is under the provision of section 140 says "before taking any action reasonable opportunity should be given to the auditors". when the opportunity should be provided. i have 2 stages where opportunity should have been given 1. in the board meeting (then what is the notice period). 2. in the GM (then what is use of Going to central govt if the shareholder does not remove such auditor inspire of RD approval). please give your inputs on the same.

Auditors

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Views (1466)
Posted By: Naman 9 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).

Section 62- Further issue of share capital.

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

Answer

ROC Form filing pending Read More
ROC Form filing pending

Section 42 - Issue of shares on private placement basis.

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Views (1456)
Posted By: Himanshu 9 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

Section 92- Annual return.

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Views (1456)
Posted By: Surendra dalvi 5 year(s) ago

Answer

Limited Co.(Not Pvt. Ltd) non listed appointed Additional Director through BOD whether MGT 14 is required to be filed Read More
Limited Co.(Not Pvt. Ltd) non listed appointed Additional Director through BOD whether MGT 14 is required to be filed

Board of Directors

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Views (1452)
Posted By: Purushottam lal agrawal 8 year(s) ago

Answer

Please provide procedure of Buy back of shares. Read More
Please provide procedure of Buy back of shares.

Compliances

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Views (1449)
Posted By: Sunil kumar agrawal 8 year(s) ago

Answer

in a private limited company, Annual Filing of year 2014 is pending, the company has filed MGT-14 related to Adoption of Accounts Read More
in a private limited company, Annual Filing of year 2014 is pending, the company has filed MGT-14 related to Adoption of Accounts, Directors report within due date. but the auditor has given his resignation on 31/03/2014 and practically the accounts are not audited on due date. Auditor's resignation is not yet filed to ROC. Now my question is if such casual vacancy of auditor is filled by appointing new auditor by the board which exceed 300 days, will it amounts to any other penalty or compounding other than Additional feed on such board resolution?

Auditors

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Views (1446)
Posted By: Bunny sehgal 8 year(s) ago

Answer

An NRI has been appointed as Director in Public Limited Company, how is leave of absence is to be calculated ? Thanks Read More
An NRI has been appointed as Director in Public Limited Company, how is leave of absence is to be calculated ? Thanks

Director

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Views (1446)
Posted By: Pooja hiranandani 8 year(s) ago

Answer

hello everyone,i want to know the reaquirement of an agreement for sweat equity shares.I couldnt find anywhere in the act nor the Read More
hello everyone,i want to know the reaquirement of an agreement for sweat equity shares.I couldnt find anywhere in the act nor the rules regarding sweat equity share agreement .Could anyone pls elaborate plus can restrictive clause such as if an employee leaves an organisation they are required to transfer the share back to company be given in such an agreement

Private placement

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Views (1446)
Posted By: Gowri 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.

Section 62- Further issue of share capital.

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

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?

Section 124- Unpaid dividend account.

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

Answer

We are issuing shares to a person in exchange providing advisory services to the co. t. It gets covered under 62(1)(c) preferentia Read More
We are issuing shares to a person in exchange providing advisory services to the co. t. It gets covered under 62(1)(c) preferential allotment for consideration other than cash. Act says also follow sec 42 i.e. pvt. placement which talks about that the amount for issue of shares should come by way of cheque in a separate bank account. But there is no money coming. Only in exchange of services, we are giving shares. How to comply with Section 42?

Private placement

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Views (1440)
Posted By: Revathy` 9 year(s) ago

Answer

In a Pvt. Ltd Company shares hold by other than director, how can company shows the same into MGT-9 share holding pattern sheet.wh Read More
In a Pvt. Ltd Company shares hold by other than director, how can company shows the same into MGT-9 share holding pattern sheet.where is option only for promoter and public issue.

Board of Directors

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Views (1436)
Posted By: Rahul kumar jain 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?

Section 179- Powers of Board.

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

Answer

Pl. tell me whether page no. on MOA / AOA should be written on the face/head of each page or on the foot of each page. Read More
Pl. tell me whether page no. on MOA / AOA should be written on the face/head of each page or on the foot of each page.

Incorporation

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Views (1428)
Posted By: Dhavneesh gupta 10 year(s) ago

Answer

Do companyneed to file ADT-1 for ratification of Auditors appointment for 1 year? Read More
Do companyneed to file ADT-1 for ratification of Auditors appointment for 1 year?

Auditors

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Views (1427)
Posted By: Siva naga vijay babu guggilam 9 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.

Section 164- Disqualifications for appointment of director.

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Views (1426)
Posted By: Aishwarya 5 year(s) ago

Answer

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

Section 96- Annual general meeting.

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Views (1422)
Posted By: Shubha 9 year(s) ago

Answer

Our Board comprises of MD (nominee-non rotational), Chairperson (nominee-non-rotational) and 4 Independent directors (rotational d Read More
Our Board comprises of MD (nominee-non rotational), Chairperson (nominee-non-rotational) and 4 Independent directors (rotational directors)-MD and Chairperson shall not retire by rotation as per the articles and agreement entered into with the investor bank. Now section 149 says independent directors shall not be counted in the total stength for determing the directors liable to retire by rotation. In these circumstances, how will it be possible for me to comply with the requirement of minimum 2/3rd directors shall be liable to retire by rotation

Director

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Views (1420)
Posted By: Suparna 10 year(s) ago

Answer

If a company hold an EOGM to approve the offer of shares u/s 42 & 62 and file MGT-14 within 30 days and then call board meeting ne Read More
If a company hold an EOGM to approve the offer of shares u/s 42 & 62 and file MGT-14 within 30 days and then call board meeting next month and issue offer letter, F-GNL-2 with PAS-4 is to be filed within 30 days of this board meeting but Form GNL-2 asks for the EOGM date only. How should we file PAS-4 issued in the board meeting held after EOGM? I we enter the details of MGT-14 and date of EOGM in point 5 of the form then point 8 automatically filled up with the same date. But in fact the two dates are different. The PAS 4 is issued in the Board meeting after one month of the EOGM and if we file the form with EOGM date it will be late obviously and otherwise also it is not correct. PAS4 is to be filed within 30 days of its issue date.Can anybody help if they hv filed this form? itis urgent.

Private placement

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Views (1420)
Posted By: Anita 10 year(s) ago

Answer

As per new Compaines Act 2013, can we submit online the new resolutions passed by Board. Read More
As per new Compaines Act 2013, can we submit online the new resolutions passed by Board.

Compliances

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Views (1417)
Posted By: Sayed mahmood alam 8 year(s) ago

Answer

what is Frequency of audit committee meeting of Deemed public company Read More
what is Frequency of audit committee meeting of Deemed public company

Auditors

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Views (1412)
Posted By: Pooja garg 8 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

Section 185- Loan to directors, etc.

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Views (1411)
Posted By: Purushottam lal agrawal 10 year(s) ago

Answer

CAN a Public limited company appoint one person as Managing Director & Chairman of the company? If you - Please provide detail of Read More
CAN a Public limited company appoint one person as Managing Director & Chairman of the company? If you - Please provide detail of legal compliances.

Compliances

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Views (1410)
Posted By: Sunil kumar agrawal 9 year(s) ago

Answer

should we mention all share sholders in the altered aoa including the promoters who are not associated with the company now or is Read More
should we mention all share sholders in the altered aoa including the promoters who are not associated with the company now or is it sufficient to mention all the new share holders with their share holding. please advise me. thanks

Board Meeting

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Views (1410)
Posted By: Raju srungaram 6 year(s) ago

Answer

please guide me with the procedure for alteration of Articles for section 25 company to bring it in conformity with the Companies Read More
please guide me with the procedure for alteration of Articles for section 25 company to bring it in conformity with the Companies Act, 2013 and also what forms and prior approval is required to be taken in this regard

Compliances

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Views (1409)
Posted By: Sonam 9 year(s) ago

Answer

Private limited company entering into Joint Venture agreement and raise funds what are the implications as per companies act 2013 Read More
Private limited company entering into Joint Venture agreement and raise funds what are the implications as per companies act 2013

Fund raising

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Views (1408)
Posted By: R.kandasubramanian 9 year(s) ago

Answer

What are the time lines to file half yearly periodic Eform DPT-3 Read More
What are the time lines to file half yearly periodic Eform DPT-3

Disclosures

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Views (1405)
Posted By: Mahashweta pamnani 5 year(s) ago

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..

Section 21- Authentication of documents, proceedings and contracts.

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Views (1404)
Posted By: Mohit seth 10 year(s) ago

Answer

We are pvt limited company operating from SEZ with share capital less than 20 crores. We will be appointing an executive director Read More
We are pvt limited company operating from SEZ with share capital less than 20 crores. We will be appointing an executive director shortly. In this connection, could you pl clarify the following: a) whether sec 196 is applicable for us b) whether sec 197 is applicable for us? c) do we need to file MR-1? d) Any other form that will be required to be filed in this regard apart from DIR-12 either on a monthly/quarterly/annual basis?

Director

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Views (1399)
Posted By: Tci chemicals india pvt ltd 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?

Section 42 - Issue of shares on private placement basis.

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Views (1398)
Posted By: Akansha 10 year(s) ago

Answer

A company has received funds from its holding company which is based in Singapore. In light of the FEMA provisions, a valuation re Read More
A company has received funds from its holding company which is based in Singapore. In light of the FEMA provisions, a valuation report is required from a CA justifying the present value of share. The shares can be allotted within 180 days of receipt of funds as per FEMA guidelines. My question is whether the company needs to follow the timelines specified by Companies Act 2013, i.e within 60 days, and whether the allotment will be based on the value derived by the valuer.

Fund raising

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Views (1397)
Posted By: T.r.chadha & co. 8 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.

Section 152- Appointment of directors.

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Views (1397)
Posted By: Akila 8 year(s) ago

Answer

What is the corresponding section in companies act 2013 for section 217 (2A) of companies Act 1956,(disclosure in board report for Read More
What is the corresponding section in companies act 2013 for section 217 (2A) of companies Act 1956,(disclosure in board report for remuneration to employees earning more than the limit)?

Remuneration to KMP

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Views (1392)
Posted By: Nirupama v 9 year(s) ago

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?

Section 174- Quorum for meetings of Board.

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Views (1389)
Posted By: K vasantha kumar 9 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.

Section 139- Appointment of auditors.

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

Answer

One Public Limited Unlisted company has re-appointed its Managing Director for 3 years in September 2013. The appointment is valid Read More
One Public Limited Unlisted company has re-appointed its Managing Director for 3 years in September 2013. The appointment is valid upto August, 2016 as per The Companies Act, 1956. Is re-appointment of Managing Director valid upto August, 2016 under The Companies Act, 2013. What are the compliances need to comply under The Companies Act, 2013 for validity of re-appointment of Managing Director upto August, 2016.Please Clarify.

Implementation of new law

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Views (1385)
Posted By: Sunil kumar agrawal 9 year(s) ago

Answer

Any one post the resolution format for change of designation from wholetime director to director. Read More
Any one post the resolution format for change of designation from wholetime director to director.

Director

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Views (1382)
Posted By: Fairanddeal2008 7 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.

Section 129- Financial statement.

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Views (1380)
Posted By: Pradeep chugh 9 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?

Section 164- Disqualifications for appointment of director.

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Views (1379)
Posted By: Neha goni 6 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%?

Section 184- Disclosure of interest by director.

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Views (1374)
Posted By: Kanika gupta 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.

Section 188- Related party transactions.

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Views (1374)
Posted By: Arun kumar 10 year(s) ago

Answer

A newly incorporated private limited company wants to issue equity shares at par i.e Rs.10.00 per share. How will the valuation of Read More
A newly incorporated private limited company wants to issue equity shares at par i.e Rs.10.00 per share. How will the valuation of shares be done? Are there any valuation rules or any precise format of Valuation Report?

Private placement

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Views (1372)
Posted By: Piyush 10 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?

Section 139- Appointment of auditors.

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

Answer

What Do you meant by small company in private sector? Read More
What Do you meant by small company in private sector?

Small Company

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Views (1370)
Posted By: Hitender tanwar 10 year(s) ago

Answer

Has the Central Govt. notified the Secretarial Standards -1 and 2? If yes, please share the relevant extract thereto. Read More
Has the Central Govt. notified the Secretarial Standards -1 and 2? If yes, please share the relevant extract thereto.

Board Meeting

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Views (1368)
Posted By: Falguni sanghvi 9 year(s) ago

Answer

PROVISION WHEREIN ITS MENTIONED THAT -FOR DIR-3 KYC - THE DOCUMENTS OF A FOREIGN DIRECTOR MANDATORILY HAVE TO BE NOTARIZED AND APP Read More
PROVISION WHEREIN ITS MENTIONED THAT -FOR DIR-3 KYC - THE DOCUMENTS OF A FOREIGN DIRECTOR MANDATORILY HAVE TO BE NOTARIZED AND APPOSTILLED ? AND THIS APPOSTILLE HAS TO BE FROM THE HOME COUNTRY OF THAT FOREIGN DIRECTOR?

Director

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Views (1363)
Posted By: Renu sharma 5 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

Section 73- Prohibition on acceptance of deposits from public.

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Views (1362)
Posted By: Nidhi goel 8 year(s) ago

Answer

Our Client want to form a Nidhi Company. Whether we should first form a Public Company and after that apply for Nidhi Company or W Read More
Our Client want to form a Nidhi Company. Whether we should first form a Public Company and after that apply for Nidhi Company or Whether there is separate procedure for formation of the Nidhi Company from the beginning ?? Kindly advise.

Incorporation

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Views (1361)
Posted By: Arun rajabhau joshi 8 year(s) ago

Answer

Section 161(3) speaks about the Appointment of Nominee Directors. The Section read as "Subject to the articles of a company, the B Read More
Section 161(3) speaks about the Appointment of Nominee Directors. The Section read as "Subject to the articles of a company, the Board may appoint any person as a director nominated by any institution in pursuance of the provisions of any law for the time being in force or of any agreement or by the Central Government or the State Government by virtue of its shareholding in a Government company." My query is what does the term "...................................... by virtue of its shareholding in a Government Company" implies???????

Definitions

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Views (1359)
Posted By: Dipika 10 year(s) ago

Answer

Can a director of a pvt company provide security against loan taken by the company from any bank? Read More
Can a director of a pvt company provide security against loan taken by the company from any bank?

Director

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Views (1358)
Posted By: Kamal 9 year(s) ago

Answer

A public co has appointed two firms of CAs (Joint auditors) as statutory auditor for 5 years from 14-15. The 2nd auditor in the A Read More
A public co has appointed two firms of CAs (Joint auditors) as statutory auditor for 5 years from 14-15. The 2nd auditor in the AGM in Sept 2015 has expressed his unwillingness to continue. Will it be treated as casual vacancy?. Will the outgoing auditor have to file ADT3 and the company to file ADT1 for the 1st Auditor who is continuing?.

Auditors

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Views (1356)
Posted By: Latha 9 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 ??

Section 185- Loan to directors, etc.

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Views (1355)
Posted By: Arun rajabhau joshi 8 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.

Section 203- Appointment of key managerial personnel.

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Views (1354)
Posted By: Aarti rathod 10 year(s) ago

Answer

disclosure by directors under Section 24AA has been taken already as it has to be obtained by 31st March.After commencement of 201 Read More
disclosure by directors under Section 24AA has been taken already as it has to be obtained by 31st March.After commencement of 2013 Act is it necessary to again take such disclosure from director in new Format

Disclosures

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Views (1354)
Posted By: Shairill a. dubey 10 year(s) ago

Answer

Deposits - Whether Advances received for supply of goods and provision of services prior to effective date of CA-2013, and outstan Read More
Deposits - Whether Advances received for supply of goods and provision of services prior to effective date of CA-2013, and outstanding on 31.3.2014 will be treated as DEPOSITS if not adjusted within 365 days from date of acceptance of advance as per Rule 2(1)(c)(xii) of Deposit Rules 2014 Or it will be applicable to advances received on and after 1.4.2014

Compliances

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Views (1353)
Posted By: K k arora 9 year(s) ago

Answer

Private Company having turnover about Rs. 50.00 cr. and net worth Rs. 10.00 cr. and want to given disclosure the following relate Read More
Private Company having turnover about Rs. 50.00 cr. and net worth Rs. 10.00 cr. and want to given disclosure the following related party transaction in the Directors' Report; i. remuneration to WTD about Rs. 3.00 lacs p.m. ii. renueration to relative of WTD about 1.00 lac p.m. iii. lease rent about Rs. 50000/- p.m. to director. iv. goods purchased amounting to Rs. 80.00 lac from the Pvt. Co. in which directors are interested. Will these transaction be disclosed under (i) at arm length category OR (ii) not at arm length category.

Disclosures

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Views (1352)
Posted By: Sanjay sharma 9 year(s) ago

Answer

An unlisted public company proposes to issue compulsorily convertible debentures on rights basis. It proposes to pass board resolu Read More
An unlisted public company proposes to issue compulsorily convertible debentures on rights basis. It proposes to pass board resolution and special resolution at general meeting for the issue as required u/s 71(1). Request the following clarifications: 1.Since debentures are compulsorily convertible, presume will not be covered by sub-sec (3) of sec 62, which deals with increase in subscribed capital arising from exercising option to convert. So would it be in order for the company to follow the process in sub-sec (1) & (2) of Sec 62 for issue of these debentures? 2.Would the company berequired to follow rule 13 of Cos.(Share Capital & Debentures) Rules for determination of the price of shares on conversion of debentures by registered valuer,though not a preferential issue but only a rights issue,which may result in shares allotted to persons other than shareholders through renunciation. 3.Where the offer is to less than 500 members, can the issue be made without appointing a debenture trustee and also without creating security on the company's property? Kindly clarify Request the following clarifications:

Fund raising

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Views (1347)
Posted By: Radha 9 year(s) ago

Answer

Whether in a private co, any form is to be filed for reappointment of a whole time director in the AGM ?? Read More
Whether in a private co, any form is to be filed for reappointment of a whole time director in the AGM ??

Director

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Views (1344)
Posted By: Manouj agrawaal, fca, partner 9 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?

Section 42 - Issue of shares on private placement basis.

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Views (1344)
Posted By: Akansha 10 year(s) ago

Answer

Can a private limited company accept loan from another private limited company and out of the funds borrowed give loan to another Read More
Can a private limited company accept loan from another private limited company and out of the funds borrowed give loan to another limited company?

Director

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Views (1341)
Posted By: Smita lohia 6 year(s) ago

Answer

what are the compliances a private company have to follow for executive director Read More
what are the compliances a private company have to follow for executive director

Director

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Views (1338)
Posted By: Pooja garg 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

Section 196- Appointment of managing director, whole-time director or manager.

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Views (1337)
Posted By: Soumya 10 year(s) ago

Answer

For appointment of Company Secretary, Form 32 had been filed in 2006 with PAN. At that time option of Membership no. was not in th Read More
For appointment of Company Secretary, Form 32 had been filed in 2006 with PAN. At that time option of Membership no. was not in the form 32. Now only membership no. is accepted in MR-1 and PAN is not accepted in this form for Company secretary. When we file form MR-1 the massage comes that "this Membership no. is not with this CIN". DIR-12 cannot be filed because form 32 is already filed. When membership no. will be added with the earlier appointment, then only MR-1 can be filed. Please give solution.

KMP

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Views (1334)
Posted By: Sanjay sharma 9 year(s) ago

Answer

Dear Group Members:- Request for provide your views for the below matter :- Roc has filed the case in reference of prosecution un Read More
Dear Group Members:- Request for provide your views for the below matter :- Roc has filed the case in reference of prosecution under section 162 (1), 220 (3) against the company in April 2008 , The Hon'ble CJM COURT, ALIPORE has been stated in the order on 15.09.2014 as The case is withdrawn u/s 257 of CRPC. Is there any need for company to file INC 28 ( form 21 - 1956), if yes then what is the time limit for the same, and as still company has not filed the same what will be steps for the same. If no then why still in master data the same is showing in Prosecution details, company have already send the hard copy to ROC by registered post. In the light of Decision / order of Hon'ble CJM COURT, ALIPORE as stated above company approached the MCA also and from there company got reply "Please contact ROC on this.We are not authorized to do so." Request to guide the same.

Compliances

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Views (1333)
Posted By: Nitn mehta 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?

Section 184- Disclosure of interest by director.

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Views (1331)
Posted By: Ram 9 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?

Section 179- Powers of Board.

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Views (1329)
Posted By: Suman jain 8 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?

Section 184- Disclosure of interest by director.

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Views (1325)
Posted By: Latha 10 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

Section 92- Annual return.

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

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

Section 232- Merger and amalgamation of companies.

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Views (1317)
Posted By: Sanjay 9 year(s) ago

Answer

A private limited company was incorporated in 2008 with authorized capital of Rupees one lakh and paid up capital of Rs 0. The com Read More
A private limited company was incorporated in 2008 with authorized capital of Rupees one lakh and paid up capital of Rs 0. The company didn't do any business and doesn't even have a bank account. The company also didn't file any balance sheet or AGM details with ROC. How much penality ( approximate figure ) needs to be paid to ROC to close this company before it can be closed via FTE?

Penalties

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Views (1312)
Posted By: Sangeetha 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???

Section 460- Condonation of delay in certain cases.

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Views (1310)
Posted By: V s khanna 8 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

Section 77- Duty to register charges, etc.

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Views (1307)
Posted By: Arpitha 9 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?

Section 2 - Definitions

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Views (1306)
Posted By: Rahul 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?

Section 197- Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits.

Reply
Views (1303)
Posted By: Anil 8 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?

Section 42 - Issue of shares on private placement basis.

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Views (1301)
Posted By: Priyanka 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??

Section 139- Appointment of auditors.

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

Answer

We are not clear as to the Residual value which should be 5% of the Original Cost of the Asset or it should be 5% of the Carrying Read More
We are not clear as to the Residual value which should be 5% of the Original Cost of the Asset or it should be 5% of the Carrying Value of the Asset (WDV). but as per Schedule-II of the Companies Act, 2013 has specified that Residual Value of 5% should be taken on the Original Cost of the Asset only and not Carrying Value. Please give your feedback how to calculate the same.

Accounts

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Views (1298)
Posted By: Chnadravijayshah 9 year(s) ago

Answer

Is it possible to file Tax Audit report before issuing Statutory Audit Report? Read More
Is it possible to file Tax Audit report before issuing Statutory Audit Report?

Chartered Accountant

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Views (1292)
Posted By: Shekhar 9 year(s) ago

Answer

what is shareholders agreement and its format? Read More
what is shareholders agreement and its format?

Restructuring

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Views (1282)
Posted By: Reena 10 year(s) ago

Answer

How can a private limited company enter into Joint Venture agreement with NRI and the funds received from NRI will be invested in Read More
How can a private limited company enter into Joint Venture agreement with NRI and the funds received from NRI will be invested in JV and after completion of the project the amount will be repatriated to NRI. can a pvt ltd company along with NRI form a firm for the said purpose?

Fund raising

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Views (1280)
Posted By: Sarada 9 year(s) ago

Answer

Hello all. I need clarification regarding-What should we do to sell the Assets of the Private Limited Company which has Striked of Read More
Hello all. I need clarification regarding-What should we do to sell the Assets of the Private Limited Company which has Striked off by ROC for Non filing of Annual Documents.

Winding-up

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Views (1280)
Posted By: Aishwarya 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.

Section 135- Corporate Social Responsibility.

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Views (1279)
Posted By: Shylendrakumar t r 10 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?

Section 14- Alteration of articles.

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

Answer

Please provide Draft MOA & AOA of Private Limited Company AND Public Limited Company having share capital and limited by shares. Read More
Please provide Draft MOA & AOA of Private Limited Company AND Public Limited Company having share capital and limited by shares.

Compliances

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Views (1274)
Posted By: Sunil kumar agrawal 9 year(s) ago

Answer

My public limited closely held company wants to do allotment to existing shareholders (Right Issue) in Demat mode. My registered Read More
My public limited closely held company wants to do allotment to existing shareholders (Right Issue) in Demat mode. My registered office is in Agartala, Tripura and corporate office in Delhi. My Board meeting for allotment will be held in Delhi and issue of share certificate will also be in delhi. my queries are 1. Where I need to pay stamp duty on allotment/issue of share certificate ( Delhi or Tripura) 2. What is the applicable rate of duty at both the places 3. Relevant section applicable on transaction. 4. What is the procedure for paying the stamp duty. 5. Authority to be approached. Pls guide on above. 9871293629

Fund raising

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Views (1273)
Posted By: Neeraj 9 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

Section 184- Disclosure of interest by director.

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Views (1271)
Posted By: Deepak gulati 10 year(s) ago

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.

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

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

Answer

Procuedure for suomoto compounding of offence for not holding 4 board meetings in a year in view of covid 19 pendanamic exemption Read More
Procuedure for suomoto compounding of offence for not holding 4 board meetings in a year in view of covid 19 pendanamic exemption of gap between two board meetings from 120 days to 180 days

Board Meeting

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Views (1269)
Posted By: Sanjay 3 year(s) ago

Answer

Can Company utilise loan for the investment in the shares of Subsidiary Company Read More
Can Company utilise loan for the investment in the shares of Subsidiary Company

Compliances

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Views (1268)
Posted By: Venkatesan 9 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

Section 129- Financial statement.

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Views (1263)
Posted By: Jagruti 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.

Section 62- Further issue of share capital.

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Views (1260)
Posted By: Ankit singhi 10 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.

Section 185- Loan to directors, etc.

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Views (1259)
Posted By: Atul kulkarni 9 year(s) ago

Answer

X listed company having wholly owned subsidiary in Singapore named "Y". "Y" incorporated another Wholly owned Company in Singap Read More
X listed company having wholly owned subsidiary in Singapore named "Y". "Y" incorporated another Wholly owned Company in Singapore "Z" . i.e which becomes step down subsidiary to X. Now X wants to make step down subsidiary Z as Direct subsidiary? Is it permitted transaction Under Companies Act? and other Laws. What is the procedure for this transaction.

Foreign Company

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Views (1257)
Posted By: Nava bharat ventures limited 9 year(s) ago

Answer

What is the corresponding section/provision to section 200 of the Companies Act, 1956 in the new Act? Read More
What is the corresponding section/provision to section 200 of the Companies Act, 1956 in the new Act?

Remuneration to KMP

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Views (1257)
Posted By: Astha 8 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.

Section 197- Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits.

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Views (1254)
Posted By: Jaya bhatia 8 year(s) ago

Answer

Can you please guide me with the procedure for alteration of Articles of Association for section 25 companies. our company wants t Read More
Can you please guide me with the procedure for alteration of Articles of Association for section 25 companies. our company wants to alter articles for section 25 to bring in comformit with the CompsniesAct, 2013

Compliances

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Views (1251)
Posted By: Sonam 9 year(s) ago

Answer

What is a meaning of Turnover as defined under section 2 (91) of The CA 2013? We understand aggregate value of sale of goods or se Read More
What is a meaning of Turnover as defined under section 2 (91) of The CA 2013? We understand aggregate value of sale of goods or services made during the financial year. Aggregate Value include Excise duty & Sales Tax (if any) i.e Invoice value. OR It will be considered - Opening Debtors (+) add Sales made during the year (-) Less Closing Debtors. The actual realization made during the year. Please clarify.

Compliances

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Views (1248)
Posted By: Sunil kumar agrawal 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?

Section 186- Loan and investment by company.

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Views (1247)
Posted By: Nirupama v 9 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.

Section 188- Related party transactions.

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Views (1245)
Posted By: Anita 9 year(s) ago

Answer

• Does Private Limited Company acquire to obtain a Credit Rating from an Agency to accept Deposits from Members other than Directo Read More
• Does Private Limited Company acquire to obtain a Credit Rating from an Agency to accept Deposits from Members other than Directors?

Disclosures

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Views (1241)
Posted By: Akansha 10 year(s) ago

Answer

Section 161(3) speaks about the Appointment of Nominee Directors. The Section read as "Subject to the articles of a company, the B Read More
Section 161(3) speaks about the Appointment of Nominee Directors. The Section read as "Subject to the articles of a company, the Board may appoint any person as a director nominated by any institution in pursuance of the provisions of any law for the time being in force or of any agreement or by the Central Government or the State Government by virtue of its shareholding in a Government company." My query is what does the term "...................................... by virtue of its shareholding in a Government Company" implies???????

Definitions

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Views (1240)
Posted By: Dipika 10 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

Section 73- Prohibition on acceptance of deposits from public.

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

Answer

unsecured loans received from nri in private limited company whether treated as deposits? if yes under what grounds or what are th Read More
unsecured loans received from nri in private limited company whether treated as deposits? if yes under what grounds or what are the criteria to be satisfied.

Fund raising

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Views (1235)
Posted By: R&a associates 9 year(s) ago

Answer

I am looking for a complete checklist of compliances which is required to be done by the companies (Public Limited, Private Limite Read More
I am looking for a complete checklist of compliances which is required to be done by the companies (Public Limited, Private Limited, Section 8, etc) respectively under companies act 2013.

Chartered Accountant

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Views (1226)
Posted By: Rr 9 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?

Section 42 - Issue of shares on private placement basis.

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Views (1225)
Posted By: Akansha 10 year(s) ago

Answer

During financial year 2015-16, first board meeting is to be held on 25th april. asper section 184(1),the director has to give his Read More
During financial year 2015-16, first board meeting is to be held on 25th april. asper section 184(1),the director has to give his general notice of disclosure which is to be taken up in board meeting of 25-04-15. I want to know that for giving form MBP-1 by the director, can it be dated any date between 1st april to 25th april 2015 or it should be dated 31-03-2015 as it was in case of Form 24AA. Thanks and regds. naresh sakhuja

Disclosures

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Views (1220)
Posted By: Naresh 9 year(s) ago

Answer

A private limited company was incorporated in fy 2011-2012 but till date that company has not complied any of the roc compliances. Read More
A private limited company was incorporated in fy 2011-2012 but till date that company has not complied any of the roc compliances. Now the owner of the company wishes to comply all roc compliances and has agreed to pay additional fee as well for form submission. My questions are 1) For the fys 2011-12, 12-13 and 13-14 Whether all compliances shall be as per the companies act 1956 or 2013? kindly refer section, circular or notification in support of answer. 2) After incorporation auditor was appointed for the FY 2011-2012 but no compliance was made thereafter. What shall be the procedure for appointment of auditor for FY 12-13 & 13-14 other than the retiring auditor?

Compliances

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Views (1217)
Posted By: Subhash bhaskar 9 year(s) ago

Answer

Please advise when to open and when to close the offer after shareholders meeting in case of private placement. Read More
Please advise when to open and when to close the offer after shareholders meeting in case of private placement.

Private placement

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Views (1217)
Posted By: Ravinder 9 year(s) ago

Answer

Please clarify regarding Issue of Preference Shares. Is a Private Limited company can issue Preference shares of face value of Rs. Read More
Please clarify regarding Issue of Preference Shares. Is a Private Limited company can issue Preference shares of face value of Rs. 20/- OR 40/- OR 60/- OR 80/- per share. Is Preference Share can be issued on a premium on the basis of valuation of Equity Shares. In case Value of Equity Shares is Rs. 360/- Face value Rs. 10/- as per Valuation report. May be issued Preference shares of Face Vale Rs. 20/- & Premium Rs. 340/- total Value Rs. 360/- per share.

Fund raising

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Views (1216)
Posted By: Sunil kumar agrawal 8 year(s) ago

Answer

How can a private limited company enter into Joint Venture agreement with NRI and the funds received from NRI will be invested in Read More
How can a private limited company enter into Joint Venture agreement with NRI and the funds received from NRI will be invested in JV and after completion of the project the amount will be repatriated to NRI. can a pvt ltd company along with NRI form a firm for the said purpose?

Fund raising

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Views (1215)
Posted By: Sarada 9 year(s) ago

Answer

Can CMD be appointed as CFO Read More
Can CMD be appointed as CFO

KMP

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Views (1213)
Posted By: Nitin 9 year(s) ago

Answer

Checklist for issuance of non convertible debentures by section 8 companies against loan Read More
Checklist for issuance of non convertible debentures by section 8 companies against loan

Fund raising

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Views (1213)
Posted By: Priti jaiswal 7 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

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

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Views (1209)
Posted By: Arpitha 8 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?

Section 42 - Issue of shares on private placement basis.

Reply
Views (1204)
Posted By: Akansha 10 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)

Section 180- Restrictions on powers of Board.

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Views (1200)
Posted By: Nirmal bang financial services private limited 10 year(s) ago

Answer

i have to file petition for registration of charges for charge created on 12/06/2013. CH-8 is prescribed to be filed with Central Read More
i have to file petition for registration of charges for charge created on 12/06/2013. CH-8 is prescribed to be filed with Central Govt. However CH-8 is an attachment not an online form. in which form it is to be attached and to whom this form is to be filed ? wat form to be filed with ROC and Regional director.

Charges

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Views (1198)
Posted By: Nidhi 10 year(s) ago

Answer

how to close subsidary company with no transactions and which has not filed annual return since inception and other subsidary com Read More
how to close subsidary company with no transactions and which has not filed annual return since inception and other subsidary company with no transactions since 4 years

Compliances

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Views (1198)
Posted By: Aravind 9 year(s) ago

Answer

CAN a Public limited company appoint one person as Managing Director & Chairman of the company? If you - Please provide detail of Read More
CAN a Public limited company appoint one person as Managing Director & Chairman of the company? If you - Please provide detail of legal compliances.

Compliances

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Views (1187)
Posted By: Sunil kumar agrawal 9 year(s) ago

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?

Section 100- Calling of extraordinary general meeting.

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Views (1181)
Posted By: Gurpreet kaur 6 year(s) ago

Answer

Mr. A, an Indian Resident is a Managing Director of XYZ Limited, a listed entity. At present, he is withdrawing salary of Rs.90 La Read More
Mr. A, an Indian Resident is a Managing Director of XYZ Limited, a listed entity. At present, he is withdrawing salary of Rs.90 Lac per annum from XYZ Limited and of Rs. INR 20 Lac per annum from XYZ Brazil Inc, which is a foreign subsidiary of XYZ Limited. Now he is intending to withdrawn salary of INR 40 Lac per annum from XYZ Europe Inc, another foreign step down subsidiary of XYZ Limited. Can Mr. A draw salary from another foreign subsidiary?

Remuneration to KMP

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Views (1180)
Posted By: Ashok 7 year(s) ago

Answer

draft of code of conduct for prevention of Insider trading covering the recent amendment by SEBI covering Connected person Als Read More
draft of code of conduct for prevention of Insider trading covering the recent amendment by SEBI covering Connected person Also inform the procedure to be followed by Company Secretary in this regard.

SEBI

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Views (1178)
Posted By: Arpitha 9 year(s) ago

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

Section 205- Functions of the Company Secretary.

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Views (1177)
Posted By: Ulka kulkarni 11 year(s) ago

Answer

Pvt Ltd co. have only 2 directors , disputes between them arise, how EOGM COULD BE CALLED FOR appointment of another director . Read More
Pvt Ltd co. have only 2 directors , disputes between them arise, how EOGM COULD BE CALLED FOR appointment of another director .

Board of Directors

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Views (1177)
Posted By: Purushottam lal agrawal 8 year(s) ago

Answer

How to distinguish shareholders and directors in a private limited company Read More
How to distinguish shareholders and directors in a private limited company

Chartered Accountant

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Views (1171)
Posted By: Ca.kousik ghosh 9 year(s) ago

Answer

Can a person be appointed executive director in two private ltd company and can he take salary from two private ltd company Read More
Can a person be appointed executive director in two private ltd company and can he take salary from two private ltd company

Director

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Views (1168)
Posted By: Sanjay dewan 9 year(s) ago

Answer

Can you please guide me with the procedure for alteration of Articles of Association for section 25 companies. our company wants t Read More
Can you please guide me with the procedure for alteration of Articles of Association for section 25 companies. our company wants to alter articles for section 25 to bring in comformit with the CompsniesAct, 2013

Compliances

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Views (1160)
Posted By: Sonam 9 year(s) ago

Answer

Section 161(3) speaks about the Appointment of Nominee Directors. The Section read as "Subject to the articles of a company, the B Read More
Section 161(3) speaks about the Appointment of Nominee Directors. The Section read as "Subject to the articles of a company, the Board may appoint any person as a director nominated by any institution in pursuance of the provisions of any law for the time being in force or of any agreement or by the Central Government or the State Government by virtue of its shareholding in a Government company." My query is what does the term "...................................... by virtue of its shareholding in a Government Company" implies???????

Definitions

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Views (1157)
Posted By: Dipika 10 year(s) ago

Answer

can a professional like CA/CS/CWA certified document who reside outside india but holding certificate of practice in india? Read More
can a professional like CA/CS/CWA certified document who reside outside india but holding certificate of practice in india?

Company Secretary

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Views (1155)
Posted By: Binay 10 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.

Section 136- Right of member to copies of audited financial statement.

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Views (1155)
Posted By: Unnikrishnan p s 10 year(s) ago

Answer

What is the procedure of voluntary winding up of a private limited company as per the companies act, 2013 along with the details o Read More
What is the procedure of voluntary winding up of a private limited company as per the companies act, 2013 along with the details of forms to be filed with the ROC? Please help.

Winding-up

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Views (1154)
Posted By: Manisha 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.

Section 71- Debentures.

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Views (1146)
Posted By: Purva arora 8 year(s) ago

Answer

If the Meeting of Small company held on 7th May 2015 is it possible to conduct next Board meeting on 1st July 2015. Read More
If the Meeting of Small company held on 7th May 2015 is it possible to conduct next Board meeting on 1st July 2015.

Small Company

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Views (1144)
Posted By: Amardeepduggal 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.?

Section 129- Financial statement.

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

Answer

One of my client dealing in Trading of Water Purifier Machinery, Can help me for NIC code??? Read More
One of my client dealing in Trading of Water Purifier Machinery, Can help me for NIC code???

Disclosures

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Views (1141)
Posted By: Vijay oganiya 9 year(s) ago

Answer

One Private Limited Company was incorporated in first week of March 2014. The Company is required to close its first Financial Yea Read More
One Private Limited Company was incorporated in first week of March 2014. The Company is required to close its first Financial Year on 31.03.2015 OR 31.03.2014. Please clarify.

Compliances

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Views (1141)
Posted By: Sunil kumar agrawal 9 year(s) ago

Answer

A PRIVATE LIMITED COMPANY WISHES TO ALLOT SHARES AGAINST THE SHARE APPLICATION MONEY LYING WITH IT AS ON 31.03.2014. THE SAID AMOU Read More
A PRIVATE LIMITED COMPANY WISHES TO ALLOT SHARES AGAINST THE SHARE APPLICATION MONEY LYING WITH IT AS ON 31.03.2014. THE SAID AMOUNT WAS DISCLOSED AS DEPOSIT IN FORM DPT 4 FILED RECENTLY WITH THE MCA. WHILE SECTION 74 OF THE COMPANIES ACT HAD MANDATED REPAYMENT OF SUCH DEPOSIT BY 31.03.2015, ALLOTMENT OF SHARES AGAINST THEM WOULD AMOUNT TO REPAYMENT ? ALTERNATIVELY, SHOULD FRESH APPLICATION MONEY BE RAISED FOR FURTHER ISSUE OF SHARES?

Compliances

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Views (1138)
Posted By: Krishna kumar gaggar 10 year(s) ago

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 ?

Section 248- Power of Registrar to remove names of a company from register of companies.

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Views (1132)
Posted By: Arun rajabhau joshi 7 year(s) ago

Answer

Can anyone please provide compliance w.r.t. a foreign company in FEMA and as well as in ROC, I need a checklist if possible. I Read More
Can anyone please provide compliance w.r.t. a foreign company in FEMA and as well as in ROC, I need a checklist if possible. I am having some inputs but just need to confirm that there are no rooms for mistake. For e.g. Form FC - 3 Fc - 4, AAC Statement of Asset and Liabilities Annual Compliance under ROC Please suggest if anything is left out. My id is: singhishraddha@gmail.com, 8800448070 Best regards, S. Singhi

Foreign Company

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Views (1130)
Posted By: Shraddha 9 year(s) ago

Answer

What does the new insider trading code of SEBI Says. Kindly give a gist of the same.The circular is very confusing. Read More
What does the new insider trading code of SEBI Says. Kindly give a gist of the same.The circular is very confusing.

SEBI

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Views (1127)
Posted By: Divakaran suresh 9 year(s) ago

Answer

Can you please guide me with the procedure for alteration of Articles of Association for section 25 companies. our company wants t Read More
Can you please guide me with the procedure for alteration of Articles of Association for section 25 companies. our company wants to alter articles for section 25 to bring in comformit with the CompsniesAct, 2013

Compliances

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Views (1127)
Posted By: Sonam 9 year(s) ago

Answer

Section 161(3) speaks about the Appointment of Nominee Directors. The Section read as "Subject to the articles of a company, the B Read More
Section 161(3) speaks about the Appointment of Nominee Directors. The Section read as "Subject to the articles of a company, the Board may appoint any person as a director nominated by any institution in pursuance of the provisions of any law for the time being in force or of any agreement or by the Central Government or the State Government by virtue of its shareholding in a Government company." My query is what does the term "...................................... by virtue of its shareholding in a Government Company" implies???????

Definitions

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Views (1126)
Posted By: Dipika 10 year(s) ago

Answer

Section 161(3) speaks about the Appointment of Nominee Directors. The Section read as "Subject to the articles of a company, the B Read More
Section 161(3) speaks about the Appointment of Nominee Directors. The Section read as "Subject to the articles of a company, the Board may appoint any person as a director nominated by any institution in pursuance of the provisions of any law for the time being in force or of any agreement or by the Central Government or the State Government by virtue of its shareholding in a Government company." My query is what does the term "...................................... by virtue of its shareholding in a Government Company" implies???????

Definitions

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Views (1124)
Posted By: Dipika 10 year(s) ago

Answer

In case of companies other thn small companies and all public companies the form AOC-4 and MGT-7 required to be certified by the p Read More
In case of companies other thn small companies and all public companies the form AOC-4 and MGT-7 required to be certified by the professionals. My query is that when we hv some qualifications on the workings of any company like mostly in case of section 188 all the companies are showing that the related transaction are at arm length and so section 188 does not apply. but if we hv some qualification or on that or on compliance of any other section then how do we register or mark our qualification? By certifying the form we are certifying that the company has complied with all the compliance.

Compliances

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Views (1120)
Posted By: Anita 9 year(s) ago

Answer

How a Section Company can change its name? can anyone help with the process. INC-1 / INC-24 /MGT-14 is ok, which other document to Read More
How a Section Company can change its name? can anyone help with the process. INC-1 / INC-24 /MGT-14 is ok, which other document to be filed ?

Compliances

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Views (1111)
Posted By: Viral sanghavi 8 year(s) ago

Answer

Mr.X is a Director in XYZ Ltd. During 2014.15, he has not attended a single meeting due to other pre-occupations. Company has noti Read More
Mr.X is a Director in XYZ Ltd. During 2014.15, he has not attended a single meeting due to other pre-occupations. Company has notified that U/s.167(b) he stands having Vacated the Office of Director. What options the said Director has now? Can he be re-appointed as Director again during 2015.16? What returns are required to be submitted to ROC?

Director

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Views (1102)
Posted By: V. maslekar 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.

Section 194- Prohibition on forward dealings in securities of company by director or key managerial personnel..

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Views (1101)
Posted By: Sanam singh 8 year(s) ago

Answer

What are the applicable companies act provisions for deemed public company (WOS of Public company) ? Read More
What are the applicable companies act provisions for deemed public company (WOS of Public company) ?

Compliances

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Views (1100)
Posted By: Vaidyanathan 8 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?

Section 42 - Issue of shares on private placement basis.

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Views (1093)
Posted By: Akansha 10 year(s) ago

Answer

if a company takes over a proprietorship firm and issue share to such proprietor in consideration of same. now it is a matter of i Read More
if a company takes over a proprietorship firm and issue share to such proprietor in consideration of same. now it is a matter of issue of shares other than cash. my question is mere filling of PAS-3 with the attachment of contract paper of takeover and valuation report fulfill the requirement of law. or we have to follow separate provision of preferential allotment

Private placement

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Views (1092)
Posted By: Cs rohit 8 year(s) ago

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.

Section 66- Reduction of Share Capital

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Views (1089)
Posted By: Arun rajabhau joshi 7 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.

Section 194- Prohibition on forward dealings in securities of company by director or key managerial personnel..

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Views (1085)
Posted By: Sanam singh 8 year(s) ago

Answer

Dear Sir, a stock broking company has pledged shares for borrowing from NBFC. the transaction goes on recurring ba Read More
Dear Sir, a stock broking company has pledged shares for borrowing from NBFC. the transaction goes on recurring basis i.e everyday or day after two. my question is whether it is required to register charge for pledging shares?

Charges

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Views (1084)
Posted By: Bunny sehgal 8 year(s) ago

Answer

Whether it is necessary to file form DIR-12 for the appointment of CEO Read More
Whether it is necessary to file form DIR-12 for the appointment of CEO

KMP

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Views (1084)
Posted By: Gurpreet kaur 6 year(s) ago

Answer

Kindly give advice on below from the perspective of downstream investments. Any special procedure to be followed by JV Company. Read More
Kindly give advice on below from the perspective of downstream investments. Any special procedure to be followed by JV Company. Can an Indian JV company (50% UK : 50% Indian) enter into partnership business in the form of partnership firm in same field with some Indian partners? Can an Indian JV company (50% UK : 50% Indian) enter into partnership in a LLP in same field with some Indian partner?

RBI

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Views (1083)
Posted By: Akhand 9 year(s) ago

Answer

Hello Everyone, Can anyone please help me in the procedure of voluntary winding-up of private company, along with the formats of a Read More
Hello Everyone, Can anyone please help me in the procedure of voluntary winding-up of private company, along with the formats of affidavits, declarations, resolutions, forms etc. required in this regard.

Winding-up

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Views (1082)
Posted By: Dhavneesh gupta 9 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.

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

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

Answer

WHAT ARE THE CHECKLIST FOR QUARTERLY COMPLIANCE WITH REGARDS TO THE BOARD MEETING ENDING 1ST QUARTER JUNE 2015 AS PER THE NEW COMP Read More
WHAT ARE THE CHECKLIST FOR QUARTERLY COMPLIANCE WITH REGARDS TO THE BOARD MEETING ENDING 1ST QUARTER JUNE 2015 AS PER THE NEW COMPANIES ACT AND THE LISTING AGREEMENT

Board Meeting

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Views (1071)
Posted By: Divakaran suresh 9 year(s) ago

Answer

Section 161(3) speaks about the Appointment of Nominee Directors. The Section read as "Subject to the articles of a company, the B Read More
Section 161(3) speaks about the Appointment of Nominee Directors. The Section read as "Subject to the articles of a company, the Board may appoint any person as a director nominated by any institution in pursuance of the provisions of any law for the time being in force or of any agreement or by the Central Government or the State Government by virtue of its shareholding in a Government company." My query is what does the term "...................................... by virtue of its shareholding in a Government Company" implies???????

Definitions

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Views (1070)
Posted By: Dipika 10 year(s) ago

Answer

Anyone can you please provideList of Main Objectives of Digital Marketing company in MOA. Thanking You, Read More
Anyone can you please provideList of Main Objectives of Digital Marketing company in MOA. Thanking You,

Incorporation

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Views (1068)
Posted By: Arjun 7 year(s) ago

Answer

The provisions of sub-sections (1), (2), (3) and (4) of Section 203 are not applicable to MD, CEO, or Manager and in their absenc Read More
The provisions of sub-sections (1), (2), (3) and (4) of Section 203 are not applicable to MD, CEO, or Manager and in their absence WTD of the Government Company as per the exemption notification dated 05/06/2015 issued by MCA. Therefore, whether Managing Director of A Ltd ( Govt Co.) which is a subsidiary Company can hold additionally the position of Whole time Director of its holding Company B Ltd ( which is also a Govt Company) ?

KMP

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Views (1067)
Posted By: Ketan antani 9 year(s) ago

Answer

Form 32 had been filed in 2006 with PAN. At that time option of Membership no. was not in the form 32. Now only membership no. Read More
Form 32 had been filed in 2006 with PAN. At that time option of Membership no. was not in the form 32. Now only membership no. is accepted in MR-1 and PAN is not accepted in this form. When we file form MR-1 the massage comes that "this Membership no. is not with this CIN". DIR-12 cannot be filed because form 32 is already filed. When membership no. will be added with the earlier appointment, then only MR-1 can be filed. Please give solution.

KMP

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Views (1057)
Posted By: Sanjay sharma 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 ?

Section 123- Declaration of dividend.

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Views (1057)
Posted By: Rahul chaudhary 9 year(s) ago

Answer

Please address my query: A India Pvt Ltd is the subsidiary of B Foreign Limited. B Foreign Limited is the wholly owned subsidiary Read More
Please address my query: A India Pvt Ltd is the subsidiary of B Foreign Limited. B Foreign Limited is the wholly owned subsidiary of C India Limited. Can we say that A India Pvt Ltd is the subsidiary of C India Limited. And whether A would be treated as Pvt company or deemed Public company.

Foreign Company

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Views (1049)
Posted By: Haryana 9 year(s) ago

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

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

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

Answer

if a person only have DIN ON his first name and all the government proof and his academic certificate with his single first name. Read More
if a person only have DIN ON his first name and all the government proof and his academic certificate with his single first name. how to registered his DSC and use his name as applicant in INC -1 . kindly help

Director

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Views (1048)
Posted By: Bunny sehgal 8 year(s) ago

Answer

Can a director of a private limited company also become a bank signatory for a project office in India where there he is no other Read More
Can a director of a private limited company also become a bank signatory for a project office in India where there he is no other role to do and not getting any salary in project office.

Foreign Company

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Views (1043)
Posted By: Manoj jangid 9 year(s) ago

Answer

a company incorporated 2 years ago having 2 same shareholders & directors. 1 of d shareholder is unable to pay his subscription m Read More
a company incorporated 2 years ago having 2 same shareholders & directors. 1 of d shareholder is unable to pay his subscription money I.e 50%.. He is ready to resign from directorship too(means its not a disputed case. Is there any other way out other than forfeiture n reissue of shares to 3rd person..?

Promoter

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Views (1031)
Posted By: Bunny sehgal 8 year(s) ago

Answer

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

Section 55- Issue and redemption of preference share.

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

Answer

Under Sec 455 if a company has filed its past financial accounts and annual returns, however the company has not been having signi Read More
Under Sec 455 if a company has filed its past financial accounts and annual returns, however the company has not been having significant accounting transactions for the past years, some even from the date of incorporation. Can the ROC declare such companies suo moto without any application made by the company, as "Dormant"?.

Dormant Company

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Views (1015)
Posted By: Latha 5 year(s) ago

Answer

Is the additional time (with additional fee) provided under section 403 for filing of forms, also applicable for the forms filed f Read More
Is the additional time (with additional fee) provided under section 403 for filing of forms, also applicable for the forms filed for creation / modification / satisfaction of charge.

Charges

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Views (1007)
Posted By: Arun kumar 10 year(s) ago

Answer

Can the Chairman and Managing Director of the listed company be a member of the same company's audit committee? Read More
Can the Chairman and Managing Director of the listed company be a member of the same company's audit committee?

Director

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Views (1006)
Posted By: Rajesh agrawal 10 year(s) ago

Answer

CAN a Public limited company appoint one person as Managing Director & Chairman of the company? If you - Please provide detail of Read More
CAN a Public limited company appoint one person as Managing Director & Chairman of the company? If you - Please provide detail of legal compliances.

Compliances

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Views (1004)
Posted By: Sunil kumar agrawal 9 year(s) ago

Answer

what is the minimum requirement of members in the stakeholders committee? can the chairman and managing director of the same liste Read More
what is the minimum requirement of members in the stakeholders committee? can the chairman and managing director of the same listed company also be a member of the stakeholder's committee?

Director

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Views (999)
Posted By: Rajesh agrawal 10 year(s) ago

Answer

In a private co, a whole time director designated as such, is taking salary for last 14 years now. Please advise whether we need t Read More
In a private co, a whole time director designated as such, is taking salary for last 14 years now. Please advise whether we need to re appoint him now or from an earlier date and what resolution/forms need to be filed for the same ?

KMP

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Views (993)
Posted By: Manouj agrawaal, fca, partner 9 year(s) ago

Answer

THE COMPLIANCE RELATED FILING OF A PRIVATE LIMITED COMPANY ALONGWITH THEIR COMPLIANCE RELATE ACTIVITY EG. BOARD MEETING, AGM ETC. Read More
THE COMPLIANCE RELATED FILING OF A PRIVATE LIMITED COMPANY ALONGWITH THEIR COMPLIANCE RELATE ACTIVITY EG. BOARD MEETING, AGM ETC.

Chartered Accountant

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Views (959)
Posted By: U l basak & co. 9 year(s) ago

Answer

By virtue of IPO IN 1993-1994 FY some allotment money arrears ( appllication - Rs.5/- allotment money Rs.5/-) @Rs.5 on 49600/- Read More
By virtue of IPO IN 1993-1994 FY some allotment money arrears ( appllication - Rs.5/- allotment money Rs.5/-) @Rs.5 on 49600/- shares are unpaid by shares and remains as partly paid up shares till today. But due to loss of data company is not having the details of partly paid up share public shareholders, thereby company unable to forfeit. What is the solution to clean up the balance sheet. If the company is unable to identify the shareholders and call the arrears from them what is the use of keeping that partly paid up shares years together? can't the company make them as fully paid in the interest of shareholders (without forfeiting and without reduction and without depriving the interests of shareholders)? * total number of fully paid shares re 9432040 Nos. If the company keeps it for years together how it can decide the voting rights at the time of any corporate actions of such company?

Restructuring

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Views (955)
Posted By: Priyadarshini 7 year(s) ago

Answer

Checklist for issuance of non convrtible debentures Read More
Checklist for issuance of non convrtible debentures

Fund raising

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Views (921)
Posted By: Priti jaiswal 7 year(s) ago

Answer

LIC of India has incorporated a100% subsidiary company with paid up capital of i crore. In order to ensure 7 minimum members for p Read More
LIC of India has incorporated a100% subsidiary company with paid up capital of i crore. In order to ensure 7 minimum members for public company, one share of Rs 10/- each were alloted to 6 employees of LIC who acted as nominee shareholder. Two of them are also director of the company. my question is while giving disclosure in MBP-1, is the director required to mention one share held by him in the Company as he has no benificial interest in that share.

Disclosures

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Views (905)
Posted By: Naresh 9 year(s) ago

Answer

How can a private limited company enter into Joint Venture agreement with NRI and the funds received from NRI will be invested in Read More
How can a private limited company enter into Joint Venture agreement with NRI and the funds received from NRI will be invested in JV and after completion of the project the amount will be repatriated to NRI. can a pvt ltd company along with NRI form a firm for the said purpose?

Fund raising

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Views (903)
Posted By: Sarada 9 year(s) ago

Answer

Can a Private or Public Ltd company give loan to its shareholders/members who are not directors of the company. Read More
Can a Private or Public Ltd company give loan to its shareholders/members who are not directors of the company.

Compliances

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Views (896)
Posted By: Divakaran suresh 8 year(s) ago

Answer

Related Party Transactions ( RPT) : whether 10% of the turnover threshold is to be calculated : (a) With reference to RPT contract Read More
Related Party Transactions ( RPT) : whether 10% of the turnover threshold is to be calculated : (a) With reference to RPT contract wise or related party wise ? (b) Turnover to be taken as sale of goods and sale of services together or only on relevant turnover ? (c)Turnover means as shown in P & L A/c or as per definition in Section 2(91) according to which it should be on the basis of realization ?

Compliances

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Views (876)
Posted By: Manouj agrawaal, fca, partner 9 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?

Section 197- Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits.

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Views (874)
Posted By: Amith jain 7 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?

Section 185- Loan to directors, etc.

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Views (826)
Posted By: Kavita 7 year(s) ago

Answer

Can you please guide me with the procedure for alteration of Articles of Association for section 25 companies. our company wants t Read More
Can you please guide me with the procedure for alteration of Articles of Association for section 25 companies. our company wants to alter articles for section 25 to bring in comformit with the CompsniesAct, 2013

Compliances

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Views (816)
Posted By: Sonam 9 year(s) ago

Answer

one of my customer company got striked off after receipt of notice from the ROC. Now what is the procedure to get the company sta Read More
one of my customer company got striked off after receipt of notice from the ROC. Now what is the procedure to get the company status is become active from strike off.

NCLT

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Views (774)
Posted By: Aishwarya 7 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?

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

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Views (750)
Posted By: Amardeepduggal 7 year(s) ago

Answer

Can you please guide me with the procedure for alteration of Articles of Association for section 25 companies. our company wants t Read More
Can you please guide me with the procedure for alteration of Articles of Association for section 25 companies. our company wants to alter articles for section 25 to bring in comformit with the CompsniesAct, 2013

Compliances

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Views (746)
Posted By: Sonam 9 year(s) ago

Answer

If a director disqualifies u/s 164(2) then what is the ways to make him qualify again ? Thanks in advance.. Read More
If a director disqualifies u/s 164(2) then what is the ways to make him qualify again ? Thanks in advance..

Compliances

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Views (738)
Posted By: Aishwarya 7 year(s) ago

Answer

Can a director file STK Forms for striking off even if he is disqualified U/s 164(2) in other company ? Read More
Can a director file STK Forms for striking off even if he is disqualified U/s 164(2) in other company ?

Winding-up

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Views (696)
Posted By: Aishwarya 7 year(s) ago

Answer

If a Director is disqualified u/s 164(2) in X Company then Can he hold the directorships in Y Company? Thanks in advance Read More
If a Director is disqualified u/s 164(2) in X Company then Can he hold the directorships in Y Company? Thanks in advance

Winding-up

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Views (664)
Posted By: Aishwarya 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

Section 196- Appointment of managing director, whole-time director or manager.

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Views (236)
Posted By: Shivam 5 month(s) ago

Q & A

Question Sorting on

Can CSR expenditure be approved by Circular Resolution of CSR Committee Read More Can CSR expenditure be approved by Circular Resolution of CSR Committee

We need to file Balance Sheet for the financial year 2013-14 with MCA and Form 23 AC/ACA are not avalable now, please suggest the Read More We need to file Balance Sheet for the financial year 2013-14 with MCA and Form 23 AC/ACA are not avalable now, please suggest the relevant form

whether blance in share premium account to be included for limit of paid up capital to eligible as small company Read More whether blance in share premium account to be included for limit of paid up capital to eligible as small company

Who will appoint an auditor in a company in which a Government Company holds 56% Stake? Read More Who will appoint an auditor in a company in which a Government Company holds 56% Stake?

Can a Private company give a loan to another Private company in which one of the shareholder is relative of Director of lending c Read More Can a Private company give a loan to another Private company in which one of the shareholder is relative of Director of lending company?

A private company having turnover of Rs.10 crores and capital of Rs.10 lacs shall be treated as small company or not Read More A private company having turnover of Rs.10 crores and capital of Rs.10 lacs shall be treated as small company or not

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?

whether HUF is covered under the definition of relative of director/member Read More whether HUF is covered under the definition of relative of director/member

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?

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

Please provide me the format of Form DIR-2 required as per Form DIR-12. Read More Please provide me the format of Form DIR-2 required as per Form DIR-12.

Is compliance certificate u/s 383A of the old Act applcable for the Financial Year ended 31.03.2014? Read More Is compliance certificate u/s 383A of the old Act applcable for the Financial Year ended 31.03.2014?

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.

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

Hi, Please advise whether pvt. company can take loan from the other private company where there is one common director? if yes, pl Read More Hi, Please advise whether pvt. company can take loan from the other private company where there is one common director? if yes, pls. advise procedure?

Please clarify - there is any time limit to update MOA & AOA as per the New Companies Act, 2013 to existing companies. Read More Please clarify - there is any time limit to update MOA & AOA as per the New Companies Act, 2013 to existing companies.

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?

As per CLSS 2014 Form 23B Can be filed, however Form 23B is not available on MCA 21 Portal, so can we use old Form 23B or is their Read More As per CLSS 2014 Form 23B Can be filed, however Form 23B is not available on MCA 21 Portal, so can we use old Form 23B or is their any other alternative

Can allotment of Shares or Debentures be done through circular resolution. Read More Can allotment of Shares or Debentures be done through circular resolution.

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?

Do we have to amend the AOA of the co. as per new act? Read More Do we have to amend the AOA of the co. as per new act?

NEW DRAFT FORM OF MOA Read More NEW DRAFT FORM OF MOA

In a Pvt limited both the Directors and members are Non-Resident...in this case the place of the AGM where???? Read More In a Pvt limited both the Directors and members are Non-Resident...in this case the place of the AGM where????

A Company was incorporated on 9th January, 2015. By default, the Company has closed its financial accounts on 31st March, 2015. Wh Read More A Company was incorporated on 9th January, 2015. By default, the Company has closed its financial accounts on 31st March, 2015. What is the remedy available?

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?

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

Is there any Stamp Duty Payable on Sub- Division of Shares? e form SH7 filed is held up for Non Payment of Stamp Duty/ Please clar Read More Is there any Stamp Duty Payable on Sub- Division of Shares? e form SH7 filed is held up for Non Payment of Stamp Duty/ Please clarify.

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 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.

STATUTORY AUDITOR WAS APPOINTED IN CASUAL VACANCY FOR FY 2015-16. WHAT WILL BE HIS TERM IF APPOINTED AT ENSUING AGM. Read More STATUTORY AUDITOR WAS APPOINTED IN CASUAL VACANCY FOR FY 2015-16. WHAT WILL BE HIS TERM IF APPOINTED AT ENSUING AGM.

Please confirm, can we transfer share in case of private company at face value ? Read More Please confirm, can we transfer share in case of private company at face value ?

Can CSR expenditure be approved by Circular Resolution of CSR Committee Read More
Can CSR expenditure be approved by Circular Resolution of CSR Committee

We need to file Balance Sheet for the financial year 2013-14 with MCA and Form 23 AC/ACA are not avalable now, please suggest the Read More
We need to file Balance Sheet for the financial year 2013-14 with MCA and Form 23 AC/ACA are not avalable now, please suggest the relevant form

whether blance in share premium account to be included for limit of paid up capital to eligible as small company Read More
whether blance in share premium account to be included for limit of paid up capital to eligible as small company

Who will appoint an auditor in a company in which a Government Company holds 56% Stake? Read More
Who will appoint an auditor in a company in which a Government Company holds 56% Stake?

Can a Private company give a loan to another Private company in which one of the shareholder is relative of Director of lending c Read More
Can a Private company give a loan to another Private company in which one of the shareholder is relative of Director of lending company?

A private company having turnover of Rs.10 crores and capital of Rs.10 lacs shall be treated as small company or not Read More
A private company having turnover of Rs.10 crores and capital of Rs.10 lacs shall be treated as small company or not

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?

whether HUF is covered under the definition of relative of director/member Read More
whether HUF is covered under the definition of relative of director/member

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?

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

Please provide me the format of Form DIR-2 required as per Form DIR-12. Read More
Please provide me the format of Form DIR-2 required as per Form DIR-12.

Is compliance certificate u/s 383A of the old Act applcable for the Financial Year ended 31.03.2014? Read More
Is compliance certificate u/s 383A of the old Act applcable for the Financial Year ended 31.03.2014?

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.

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

Hi, Please advise whether pvt. company can take loan from the other private company where there is one common director? if yes, pl Read More
Hi, Please advise whether pvt. company can take loan from the other private company where there is one common director? if yes, pls. advise procedure?

Please clarify - there is any time limit to update MOA & AOA as per the New Companies Act, 2013 to existing companies. Read More
Please clarify - there is any time limit to update MOA & AOA as per the New Companies Act, 2013 to existing companies.

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?

As per CLSS 2014 Form 23B Can be filed, however Form 23B is not available on MCA 21 Portal, so can we use old Form 23B or is their Read More
As per CLSS 2014 Form 23B Can be filed, however Form 23B is not available on MCA 21 Portal, so can we use old Form 23B or is their any other alternative

Can allotment of Shares or Debentures be done through circular resolution. Read More
Can allotment of Shares or Debentures be done through circular resolution.

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?

Do we have to amend the AOA of the co. as per new act? Read More
Do we have to amend the AOA of the co. as per new act?

NEW DRAFT FORM OF MOA Read More
NEW DRAFT FORM OF MOA

In a Pvt limited both the Directors and members are Non-Resident...in this case the place of the AGM where???? Read More
In a Pvt limited both the Directors and members are Non-Resident...in this case the place of the AGM where????

A Company was incorporated on 9th January, 2015. By default, the Company has closed its financial accounts on 31st March, 2015. Wh Read More
A Company was incorporated on 9th January, 2015. By default, the Company has closed its financial accounts on 31st March, 2015. What is the remedy available?

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?

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

Is there any Stamp Duty Payable on Sub- Division of Shares? e form SH7 filed is held up for Non Payment of Stamp Duty/ Please clar Read More
Is there any Stamp Duty Payable on Sub- Division of Shares? e form SH7 filed is held up for Non Payment of Stamp Duty/ Please clarify.

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 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.

STATUTORY AUDITOR WAS APPOINTED IN CASUAL VACANCY FOR FY 2015-16. WHAT WILL BE HIS TERM IF APPOINTED AT ENSUING AGM. Read More
STATUTORY AUDITOR WAS APPOINTED IN CASUAL VACANCY FOR FY 2015-16. WHAT WILL BE HIS TERM IF APPOINTED AT ENSUING AGM.

Please confirm, can we transfer share in case of private company at face value ? Read More
Please confirm, can we transfer share in case of private company at face value ?