HOW TO CALCULATION OF DRAWING POWER (DP)
What happens to a company when in converts it's optionally convertible preference shares into equity?
Will it increase there holding in the company?
If yes, then what about the existing shareholders? Will it be automatically decreased?
I live in ghaziabad uttar pradesh . I invested in a pvt ltd company in may 2019 based in Tamil nadu as a shareholder having 49% equity in that company. I have all the documents of two directors who are husband and wife having 51% equity and both are directors . At the time of getting share certificate for the same , He also gave me well endorsed (signed and stamped with company ) cheque (post dated to may 2020) worth total sum i paid against shares. As time went on,
I as a shareholder kept askign him on monthly basis about what and hows business going on? but he didn't respond me satisfactorily. Later he himself told me to get separated on good note from company , I suddenly agreed without thinking . As per our shareholder agreement (If either of the shareholders desire at any time to sell the whole or part of their shares of the company, the share holder first offer such shares in writing to other shareholder . If other party does not accepting within 90 DAYS , then first party will be at the liberty to sell the shares to any other person at the same price and the same conditions) and also stated in agreement( Shareholder will be entitled to interest at the rate of 18% per annum on the sums brought in by him or his associates/concerns/businesses) .He told me he would forward the refund request to his CA. I sent him mail regarding refund and after 90 days approx, i asked him about refund , he said he is searching for another investor , I was unable to understand what happened to request made to CA by him , why should i suffer? if he is not able to find another investor, He didn't conducted any AGM and even not provided me audit report .Still i gave him some more time BUT as time progressed, he stopped responding . I used to interact over whatsapp and sometimes email .He is also not responding over repeated email/whatsapp from my side. The final thing is that I have with me , the cheque dated 5 may 2020(3 months validity) , share certificate and company docs, id proofs of owner, passport copy .
Q- He also issued me SECURITY CHEQUE with same amount i paid subscribing equity shares. CAN I GO TO BANK TO ENCASH THE CHEQUE IF CEO / DIRECTORS NOT RESPONDING TO GET MY INVESTED MONEY BACK.
Q - AS i have only 2 months remaining to use cheque. What should i Do?
Q- Can company sue me under COMPANIES ACT 2013 on ANY grounds merely for using SECURITY CHEQUE.( AS company) ITSELF NOT RESPONDING ME
Q- Is MCA investor service effective for startup company
Q- As a new and beginner investor ,,,,what should i do get money back without getting into much legality
Q- what proper should i go for?
In a private limited company there are 4 shareholders of which 2 are directors and their holding is in demat form for bank purposes. Now the directors intend to hold shares in physical form. But remat charges are more. What is the way out?
I have 5 bonds of SBI FLOATING INTEREST RATE BOND(1994) worth Rs1000 each.
Due to some reasons i was unable to redeem it.
Can you tell me that how much will be my money today and how i should get it.
I will be highly thankful to you .
Please email me at (firstname.lastname@example.org)
What sort of structure can be legally permissible for having a different registered owner and beneficial owner?
Hi friends i have a query- As per the provision of Section 48 a particular class of shareholders can vary the rights with the consent of 3/4th members in writing or through Special Resolution passed in the meeting. However as per Rule 4(3) of Equity shares with differential rights, the company shall not convert its existing equity share capital with voting rights into equity share capital carrying differential voting rights and vice versa. My question is that doesnt the two statements contradict as section 48 says any right can be varied and rule 4(3) says that differential voting rights cant be varied
A listed company wants to acquire 100 percent shares of a private company thus making it a wholly owned subsidiary. What is procedure involved in filling forms with Roc and is any AGM/EGM is required in acquirer as well as acquiree company.
Dear all A pvt ltd company is having a lot of unsecured loans & Now it wants to convert it to convertible debentures What is the procedure to convert unsecured loan into convertible debentures. Unsecured loan is from the Directors of the Company & the converted debentures are to be issued to directors of the company.Also provide me a draft resolution.
WITH BEST REGARDS
to Expert Queries Feed