A person is carrying trading business. He is Operating business by creating four Pvt Ltd Companies in which he and his wife are directors in 50:50 ratio of shareholding. He is also running a partnership firm in which he and his wife are partners in the equal ratio. The whole process of business is as follows:
1. They are raising unsecured loans in personal names and transfer the same in one of the company. Company is paying interest and instalment of that interest by the company’s cheque directly to the bank/financial institution.
2. No TDS is being deducted from these payments.
3. Directors transfer funds to purchase property in their personal names.
4. Interest of Rs. One Crore per year is debited to the profit and loss account.
5. Limits CCs of Rs.10 Crore had been raised in the relevant companies but used for purchase of property.
6. No enough working capital is left in the business and they raise further loan secured or unsecured or home loan.
7. No statutory compliance have been made.
8. Furhter they create a vogus proprietorship firm and the turnover is Rs 2 Crore per year and the whole sale from this concern is in cash. There is no cash in the books but they deposit lacs of Rupees in bank from black money.Cash balance is also negative which will be made positive from receiving cash from old accounts of bad debtors.
9. They are using faque Form C for avoiding sale tax in the above concerns.
10. They are not registered in PF ESI Shop Establishment Acts.
In the above all they are evading lacs of rupees sale tax service tax income tax and not paying the employees their salaries in time.From April 2010 they announce increment in our salary but we have not received arrear of salary from April 2010 to Dec 2010.We have not received our leave encashment for the financial year 2010.
My problem is that I was the previous accounts head of this concern and they are threating me that if I say something to someone they file a FIR against me or theat me by saying that they can destroy me and my family.

I humbly request all the members of CA Clubindia to help me by suggesting where to complaint against these concerns by not disclosing myself or keep my identity confidential.


Thanks

I have two due of PF against Ingvysya Bank ltd.( time of service August 2008 February 2009) & another share broking company ( time of service July 2009 to January 2010).

I have apply to both the company for PF claim (full and final payment) in January 2011 but till date did not get any reply/due amount from authority.

When I have call to Ingvysya HR depptt. To know status of my PF claim application they people reply that they have forward my application to their head office Banglore on 04/02/2011, & yet not get received acknowledgement from Banglore office. They even told us after getting acknowledgement from Banglore office it takes abour 90-120 days for dues amount clearance.

My querry is whatever rule govern PF it says about maximum 30 days for clearance of PF claim. Then why should company ( ingvysya bank ltd) taking this much time for dues?( i.e. delay in submitting document with PF depptt.)

As PF is employees own money, how can authority delay such clearance?

Is there any other ways to get my PF claim immediately?how?

Towhom shall I complain for clearance of my both dues?

One of my client is a contractor , when he did a painting cotract for a school they deducted 6.5% ESI ,and paid the balance to him.
Whether they r correct ?

Hello Friends,
My query can a NRI who is a shareholder of the pvt ltd company transfer its shares to foreign company if yes please tell me the procedure to be followed in such case?
Also if the after transferring shares that foreign company wants to give loan to such pvt ltd company then what are the compliances?

Dear Sir,

I want the object clause to be inserted in the Memorandum of Association when a business of a existing partnership is acquire by a company.

I already filed form 1A for the availability of the name now i want to draft MOA & AOA for which i need clause permitting the company to acquire the undertakings of an existing business.

Please help me to resolve my query

Dear friends, I am well aware that this is a professional website for professional discussions, but it is nothing wrong in knowing what as a professional one must know.



I have observed that some of the newly released hindi films in India contains wordings that abuse any particular gender or caste or community. This kind of public abuse is not tolerable at all. I am interested in knowing how to file a complaint and to whom to file a complaint in case we come to know about such an abusive wordings / scenes in any film.



Thank you in advance. Do not post irrelevant replies

As BOD report is not annexed to balance and p & l a/c (sec:222)hence not required to put in AGM so what should be BOD report date ?
In practice Audit report and BOD report is taken same
can anyone explain me the whole process

as per sec:215(3) The balance sheet and the profit and loss account shall be approved by the Board of directors before they are signed on behalf of the Board in accordance with the provisions of this section and before they are submitted to the auditors for their report thereon.
what does this sec mean ?
does it means BOD to sent b/s and p&l for audit to auditor must be first approved by BOD

Copmany get their Provident fund code no., then what is the procedure for company Employee get their Pf Registration no?

As per Rule 3 of the Foreign Exchange Management (Current Account Transactions) (Amendment) Rules, 2001, a person CAN NOT draw foreign exchange for any of the transactions specified in the Schedule I, one of which is
“Payment of commission on exports made towards equity investment in joint ventures/wholly owned subsidiaries abroad of Indian companies.”

Can any of you explain the above transaction with example, please…..


Regards,
Sridharan R.
Salem.