"Sec259 - Increase in number of directors to require Governmentsanction.

In the case of a public company or a private company which is a subsidiary of a public company, any increase in the number of its directors, except :

(a) in the case of a company which was in existence on the 21st day of July, 1951, an increase which was within the permissible maximum under its articles as in force on that date, and

(b) in the case of a company which came or may come into existence after that date, an increase which is within the permissible maximum under its articles as first registered,

shall not have any effect unless approved by the Central Government; and shall become void if, and inso far as, it is disapproved by that Government :

Provided that where such permissible maximum is twelve or less than twelve, no approval of the Central Government shall be required if the increase in the number of its directors does not make the total number of its directors more than twelve."


Q-are the following required to take central govt permission
1. prescribed in AOA-15, current-10 proposed-13
2.prescribed in AOA-10, current-10 proposed-12

Return of allotment has to be made within 30 days from allotment of shares.
In case the allotment is done in time but form no 2 could not be filed within 30 days what should be done?

I have received a cheque for final settlement from my tenant against the pending rental dues. However, the cheque got bounced for reason "ACCOUNT CLOSED". The tenant is also not vacating, but instead filed a civil suit for injunction against forcible eviction. I tried to book him under section 420 of IPC for issuing a invalid. I want to know what is the time limit for issuing notice u/s 138 for cheque bounce. Some say it is 15 days, while some say it is 30 days.

1) Who are known as gazette officer ? how to become the gazette officer and the list of the gazette officer ? who can we known that the person is a gazette officer? what are the rights & liabilities they have and also they have to follow up.

2) where is the office siutated in mumbai

Thanking u all experts in advance.

Can a nbfc lend money to its subsidiary or group companies which are under the same management??

kindly clarify this with relevant section/circular/decision...if any

A public limited company appointed a Non resident as MD and approval from Central Govt was pending. Meanwhile the company became a Pvt limited company and the approval from CG is also obtained. Now the query is should we file form 32 now, because today it is a pvt limited and there is no mandatory requirement for MD appointment.

Assignment of Contract
If the Agreement is slient , can Assignment of contract take place.- Yes or No
Pls justify your answer?
What are the relevant sections under the Indian Contract Act?

Hi!My C.A. attempt is due in Nov. 2010. Actually I want to know which book I should refer for Law & audit?I am also want to konw, either I should read one book for law & audit each or an other book also. becoz some student says u should refer only one book while some other says just opposite it.
Is only study material of Institute sufficient for audit?I am really Confused.
Plz help me.................

When a Chartered Accountant is performing a statutary audit, he is acting as an agency of the revenue department. Many times, we have seen that the dealers'/assessee's assessment has been made on the basis of the auditors' report.

It is very well settled doctrine of the law that in any given case, one person can not be the solicitar for both the parties.

Now, when a CA is performing the statutary audit (which is presumed as acting on govt's behalf); then how can he defend the assessee for his own cause and act?

There should be made provision so as to restrict the person who has conducted the audit, to represent the dealer/assessee in the assessment or other proceedings before the revenue department (it may be Income Tax Department or concerned VAT department).

That C.A should not be allowed to represent those dealers/assessees in the assessment proceedings of whose accounts he has done statutary audit under Income Tax Act or VAT Act. A different C.A or an advocate should be allowed to represent the assessee/dealer in such cases.

please provide your unbiased views for healthy discussion

dear all,
i want to execute a partnership deed and i want to know what the value of the stamp paper required to for executing the same. the partnership is in the state of andhra pradesh.can u tell me the format of the deed as well.