Dear all,

Require the guidance of learned member for the following Querry:

The case is of a Private Limited Company having paid up share capital of Rs 4.5 Crores. It had two Promoter Director - Mrs A and Mrs B. The Husband of Mrs A and Mrs B are real brother. Currently Mr. A is also Director in the company.

Mrs B is a Non Resident India in Income Tax (but an Indian Citizen). The company had taken fund of around Rs 2.75 crores and issued shares of Rs 2.25 crores to her (i.e. shares issued to NRI).

Is their any violation of FEMA and if yes, what are the repircations. Further what are the remedies available to the company.

Lastly shall all the director be considered to be part of default and if yes, what shall be a way out if a Director want to get out of this issue.

Hope to get kind guidance of the members.

Regards

Juhi

Whether shareholders approval is required in case of appointment of First Directors of the company ? Also pls let me know the Section which is applicable

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Reply.

Regards,
Devendra Kulkarni

Hi,

can anyone tell me:

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Kindly answer.

Dear Expert
Please suggest me that under esi calculation if amounts comes like Rs 184.20 paise what amount we should take is it Rs 184/- or Rs 185 /-
As per general round off rule we used to take next rupees only when it is more than 50 paises and used to ignore if it is less than that .
But i come to know that under esi rules if any thing comes in to paises we should take the next higher amount is this right .
Thanks & Regard

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