can a independent director acquire shares of a company in which he is a director?

what are the concerned provisions in this regard in companies ac 1956 and companies bill 2012

One of my friend has become defaulter in repaying a scheme loan which he had taken from a nationalized bank. Now he is not in a position to repay even Rs. 10000/- against this loan. Bank has sent a letter to him by indicating that they will go for legal action if the loan will not be paid. Now sir, please let me know what may be the highest penalty or legal punishment which my friend will get?

Dear Sir,
Kindly let me know the minimum and maximum no of days before we can give notice to share holder for passing ordinary and extraordinary resolution in case of both Limited and private limited company
Also please give me information about short notice

Thanks

How to prepare a memorandum of understanding in case where the first party agrees to supply monthly fixed production of goods to the second party where the first party and second party have no business connections?

Again whether MOU is required in this case or a written agreement on the company's letter head will suffice?

Please guide.

Sir,
Is New Comapanies Bill Chapter or whole Bill is applicable for CS Executive exam?
In other words i want to know syllabus for Company Law for Dec 2013 CS Executive exams?

Will provisions of service tax apply on an Indian co. providing call centre services to a USA based co. for its customers in USA?

Please reply.

what is the work of promoter?

and

when prospects is issue before incorporation or after incorporation??

Before incorporation of a company ,promoter made many contracts with oters.after incorporation ,Does company accept those contracts or not?

Dear Sir,

ESI & PF ke liye other than Basic salary which are applicable.....?

if basic = 3000
HRA = 1000
TA = 500
DA = 200
Convenience= 100
then what will be applicable salary to calculate ESI & PF as rule for the year 2010 and 2011 as well as 2012.

whether promoter be an agent or principal ?????