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Filter Query : All | Only Resolved | Only Open

ARTHI

asked On 16 September 2014 at 02:47

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Unsecured loan from shareholder


Dear Experts,

A Private Limited Company has Authorised Capital of Rs.1 Lac.

Company has been continuing for many years Unsecured Loan from Shareholder of Rs.0.25 Lakh in the Balance Sheet.

In view of CA 2013, I have the following query(s):

What has to be done for the Unsecured Loan from Shareholder, which has been continuing and reflecting in the Balance Sheet for many years?

Please reply…………………. with any URL / relevant Section for me to understand in detail.

What are the effects to be done in the Company’s Balance Sheet with immediate effect?

Please reply………………….

Should there be any qualification/remarks by the Auditor, in case, the Company still continue with the Share Application Money?

Please reply………………….


Thanks a lot to all in advance for doing the needful.



ARTHI

asked On 16 September 2014 at 02:44

Answer this query now

Share application money


Dear Experts,

A Private Limited Company has Authorised Capital of Rs.1 Lakh.

Company has been continuing for many years Share Application Money of Rs.1 Lakh in the Balance Sheet.

In view of CA 2013, I have the following query(s):

What has to be done for the Share Application Money, which has been pending and reflecting in the Balance Sheet for many years?

Please reply…………………. with any URL / relevant Section for me to understand in detail.

What are the effects to be done in the Company’s Balance Sheet as well as in a realistic manner?

Please reply………………….

Should there be any qualification/remarks by the Auditor, in case, the Company still continue with the Share Application Money?

Please reply………………….


Thanks a lot to all in advance for doing the needful.



Bhavya Jain

asked On 15 September 2014 at 22:56

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Unsecured loans written off


In case of a winding up of a private unlisted company can the unsecured loans by shareholders n directors of the company can b written off or any provision dat they r not paid if company is not having d sufficient or mo cash ??



l.narasimha rao

asked On 15 September 2014 at 20:56

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Incorporating a foreign company in india as private limited


Dear sir,

We filed form INC-1 for a Pvt ltd company with the same name of a foreign company we are asked to resubmit with the following remark as

“Proposed co. is going to be incorporated in connection with the existing foreign co. In this connection we may ask them to give their attention to the guideline no. 8(2)(b)(v) of NAG and Rules, 2014 to proceed further. Form should be resubmitted by 30/09/2014 failing which the eForm shall be treated as invalid and shall not be taken on record. (Please refer Regulation 17 of the Companies Regulation, 1956)”

I need the guidance in resubmission of the form INC-1.

Best regards,

Narasimha



Anuj Kumar MIshra

asked On 15 September 2014 at 20:46

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Company registration formalities as per karnataka state


Dear sir ,
I am in the process of starting a garment manufacturing company newly , and also looking forward to export the products, may I request for an advice from experts for the registration process and
statutory compliances (Legal and financial )aspects for the same .

Thanking you !

Anuj



Raj Chirania

asked On 15 September 2014 at 20:35

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Applicable sections of companies act 2013 in ca ipcc exam nov 2014


plz provide me with the list of section numbers of companies act 2013 and companies act 1956 which are applicable in CA IPCC EXAM NOV 2014.



Chandrashekhar

asked On 15 September 2014 at 17:47

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Related party transaction and register of contracts


Deal All,
Please clarify on the following:

As per proviso to Section 188 (1), the contracts or arrangement which are in ordinary course of biz and entered on arm's length basis are exempted from the requirements of Sub-sec (1) i.e. Board's prior approval and on exceeding threshold limits, the shareholders’ prior approval.

As per Section 189(1) read with Rule 16 (1) (c) of Chapter 12, contracts or arrangements with a related party with respect to transactions to which section 188 applies shall be entered in register of contracts.

Based on the said provisions of Section 188 and 189, can we conclude that if a contract or arrangement is in ordinary course of biz and at arm's length price, particulars of such contract or arrangement need not be entered in the Register kept under section 189 by virtue of exemption provided under proviso to Section 188 (1)??

Thanks in advance

Regards
CS Chandru




vishal singla

asked On 15 September 2014 at 16:38

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Depreciation under company act


ONE OF OUR PVT LTD PURCHASE A OFFICE THROUGH PROPER SALE DEED IN SEP 2013 BUT THE OFFICE IS NOT PUT INTO USE UPTO 31.03.2014.THE COMPANY DOES NOT INTEND TO PROVIDE ANY DEPRECIATION BY PUTTING A NOTE IN DEPRECIATION SCHEDULE THAT THIS OFFICE IS NOT PUT TO USE HENCE NO DEPRECIATION IS CHARGE WHETHER THIS ACTION IS CORRECT UNDER COMPANY ACT OR NOT.



Anonymous

asked On 15 September 2014 at 15:27

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Procedure for appointment of key managerial personnel


Please tell me the detailed procedure for appointment of KMP in a company wth the board resolution for the appointment of KMP and form to be filed with ROC. THANX IN ADVANCE.



nidhi

asked On 15 September 2014 at 14:34

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Creation of charge


Dear Professional Colleagues,

Is it mandatory to create charge on Fixed Deposit given as security to Bank under Companies Act, 2013?

As defined under section 2(16), charge means interest or lien create on property or assets of the Company or any of its undertaking or both as security includes mortgage. Whether undertaking includes Fixed Deposit kept as security in Bank?



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