Sir
I am working in a private company, while my wife is working in a central government institution as faculty. I want to form a pvt ltd company where my wife will be the second partner (40% share holder, with me holding 60%). I have seen/read at this forum that while the law doesnt bar a CG employee from becoming a director, he/she would need to inform the departments/institution. I am reaching out to you for : A. Confirm that my thoughts are in compliance with the latest regulations, and that there is no illegality involved if my wife becomes a director (sleeping partner and not actively involved in day to day activities, neither getting any pecuniary benefits or profit sharing), and B. To apply for NOC, can you provide the reference to appropriate regulations that we can submit with application to enable authorities quickly issue NOC. Many thanks.

Dated: 13/4/2019

Our Pvt LTD company in Odisha ( 3 years old) wants avail loan of $3.00 M USD ( three million USD) from private lender of outside India for a period of 7 years to establish green house organic cultivation of vegetables and cut Flowers integrated with dairy farming and solar energy power back up.

This foreign currency will be through automatic route will be received by Indian bank where our account is maintained.

What is Recent updated FEMA rules and is there any prior permission required from RBI?

Awaiting for kind advise please

Regards

Manoranjan Mallia
Director

There is Change in Partnership Deed due to change in partners.

What is the procedure to update the same with Registrar of Firms Gujarat.

Dear Sir,

My sister thinks I keep an eye on my father's property. But I have neither the intention nor any desire of any property.

So, What Document do I need to execute to relinquish my right in any of my father's property? {My father wont remove my name from his will}

Dear Sir / Madam,

ABC Pvt Ltd is formed during FY 2018-19. During FY, the Company has given some loans to directors. The directors were not aware of provisions of Section 185 of Companies Act that the Pvt Ltd company can not give loans to its Directors. That means the Company has violated this provision. Realizing this now, The Directors are ready to repay that amount to the company. This is a genuine case that most of the times the directors of Pvt Ltd company may not be aware of such provisions in very 1st year of the formation of the company.

Can we say now (after receiving above repayment) that the Company has not violated the provisions of Section 185 of Companies? Whether this needs to be reported in Statutory Audit report?

Please Guide
Regards,
Suraj

Query : I was a FEMA and IT Non Resident from 2012-13 till 31-03-2017. I had earned X USD as Non Resident. I still hold those assets abroad as permitted by Section 6 of FEMA. I now want to make fresh investments overseas. Can I use the USD lying in my overseas A/cs or do I have to compulsorily remit USD under Liberalised Remittance Scheme through my Indian Bank A/cs.

Thanks.

Can employer contribute 12% Of minimum CTC prescribed RS.1800 being 12% of MINIMUM CTC RS.15000 where CTC is more than RS.15000 pm or he has to contribute 12% of actual CTC where CTC is more than RS.15000 p.m.?
please advice on the same

What is Difference between co-op housing society and co-op housing service society. Which one is better?

Dear Experts, Please let me know MSME certificate is District wise applicable or is it applicable for whole enterprise?
Actually our company is registered as SMALL under MSME Act but certificate has issued DISTRICT INDUSTRIES CENTRE , AHMEDABAD Government of Gujarat as our factory is at Gujarat and company's registered address is Mumbai, Maharastra. So, please guide me may I use the MSME certificate for the Mumbai customer.

Sir/Madam
Company is not running any business for last 2 years, All conditions of Sec 248 have been complied for striking off the name of company. There is no bank account in the name of the company, no assets & liabilities.
BUT in liabilities - unsecured loan taken from the promoter exists. Please tell me how to nullify that loan so that the Statement of Accounts can be filed with registrar.
Thanks in Advance