One of my friend. who is a practising advocate.she makes her income under legal consultancy services say 2 lakhs per annum. Further since she has good knowledge of capital markets. She intends to trade in F&o (derivities segment). What will happen to P&L account if net profit from f&o trading is around 3 lakhs (the trading she may not do every day)
1. The purchase and sales of securities are shown in P&L and then N.P is calculated?
2 or only net profit is calculated manually and added as income from other source
3 is there any norms prohibiting as per advocates rules of practice not to trade in share
respected members may provide detail emphasis or any related rulings. Thanks to all

Whether it is necessary to prepare financial statements in revised schedule VI or it is ok if we prepare in horizontal form?
Pls reply...

IS IT COMPULSORY TO EXECUTE SHARE TRANSFER DEED IN CASE OF PRIVATE LIMITED COMPANY HAVING 2 DIRECTORS ONLY. AND ONE OF THEM HAS TRANSFERED SHARES TO ANOTHER DIRECTOR. THEY HAVE NOT PAID ANY STAMP DUTY.WHAT TO DO WITH IT?

N LTD INCORPORATION DATE 19/01/2011
AND HE HAS ENDED FINANCIAL ON 31.03.2011
AND HAS NOT DONE ANY ROC FILLING TILL NOW.
MY QUERY IS WHAT IS THE LAST DUE DATE OF AGM THAT CAN BE HELD FOR THE YEAR END 31.03.2012??

Whether board resolution is necessary if a company:

1. opens a branch office?

2. hires the office area of branch office on rent of a certain amount?

3. purchases fixed assets for its branch?

4. takes loan to purchase fixed assets for its branch?

5. appoints employees(please mention designation as applicable)?

6. Moreover, whether original copy of above mentioned minutes to be kept in branch or registered office?

Please advise.

Is there any time limit i.e for how many years a director can be appointed as Wholetime director in a private limited company.
For example: Is it necessary to include in the resolution passed at general meeting that the director shall hold office for a period of .......years?

Procedure for increase in Sitting Fee beyond the limit.

Please provide me with the Minutes of extra Ordinary general Meeting held for increase in the authorised share capital of Private limited Company.

My aunt, aged 82 years, owns a flat in Mumbai and proposes to give the same on Leave and License(Rent). She is old and infirm and hence wishes to grant a special power of attorney to her daughter(who also resides in Mumbai).

The scope of the power of attorney would be:

1) to negotiate and finalise leave and license agreements,
2) to appear before the sub-registrar for registration of the leave and license agreements,
3) to receive security deposit and monthly rents and deposit the same in my aunt's bank accounts,
4) to represent my aunt before the housing co-operative society and sign all relevant documents relating to the leave and license.

My query is:
a) Whether such a power of attorney must necessarily be registered, if in Mumbai?
b) What would be the stamp duty applicable, in percentage terms, if the agreement is executed in Maharashtra?
c) Is a "notarised" power of attorney valid and acceptable in a court of law?
d) What do you advise as the most appropriate course of action?

Thanks in advance for your valuable feedback and advice.

Regards/Kapil

Our company has crossed turnover of Rs.40 crore at the year end March 2012 and for last 2 years there was zero rupees turnover mentioned in balance sheet, in this regard I want to ask what to be mentioned in annual return under Point g and what more compliance will be required to be done under Company Act