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15 June 2021 at 11:13

Associated Companies

If two companies have same registered office and are engaged in business with each other, will they be considered as associate companies, by virtue of the management control.

If yes, are the associated companies required to prepare consolidated financials. How to report the financials, if the associate companies have different auditors.

What are other disclosures to be made, in this regard.

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Thanks and Regards


11 June 2021 at 16:18

Society Compliances

Dear Professionals,

Could anybody help me with the Society Act compliances ?
Does Annual filing of Society is to be done offline?


11 June 2021 at 13:18

Independent director 149(6) (e)

who neither himself nor any of his relatives- is or had been employee of the co . in any of 3 fy immediately preeceding the fy in which i.d is proposed to be appointed.
provided in case of relative who is emplyee the restriction under this clase shall not apply during 3preecding 3 fy.


my dobut is... in first para it says for 3 fy relative shall not be associated as employee of co, and in 2nd para it allows those relatives who are associated as employee during 3 pfy.

dear members plz...help me with correct interpretation.


10 June 2021 at 17:43

SPLIT OF SHARES AND BONUS THEREON

A company has in its board meeting approved split 1 share of Rs. 5/- in 2.5 share of Rs.2/-.

Further in the same board meeting 1:1 Bonus has been approved. First shares et split and then the bonus shares would be allotted of course all subject to approval of shareholders.

So efectively if one holds one share theoretically he would have 5 shares once the process is completed.

However the question arises is how whether Company can allott bonus shares in fraction?

Would appreciate response!


Hello Sir/Madam,
Query: If one of the directors is appointed as Director under section 8 company, but the company has not filed INC20A (Commence of business not filed) please advise how the director can take resignation-way out to exit from section 8 company.


08 June 2021 at 19:49

MCA Forms upload error

Dear Friends,

I am handling one company incorporation after submitting the documents it has been sent for resubmission to rectify some details. After rectifying the defects, I try to resubmit the documents but it says " Details of Directors entered in SPICe Agile form does not maches details as entered in SPICe form.Kindly enter the correct details"  I have gone through the entire form but no mismatch is found. I need your suggessions/help to resolve this issue.

Thanks.


What is the latest procedure for conversion of OPC to Private Ltd. Co. according to Company Amendment Rules, 2021? Also is transfer of shares concept applicable to this to fulfill the condition of minimum 2 members?


07 June 2021 at 19:47

Subsidiary company- Board approval

We are having a subsidiary in US. The company wants to enter into an agreement with a company where the holding company Directors are the Directors.
Please clarify whether this agreement should be approved in the Holding company Board meeting.


pl.guide me for the rate of depreciation to be levied as per companies Act in India
on plant & machinery which was used to work 3 shift but in financial year 2020-21its working in single shift. can company charge depreciation at lower rate for the particular year.


03 June 2021 at 12:06

Ca inter lAW

if the authorised share capital is 2000000 and the issued ,subscribed and paid up share capital is 1000000.mr.x a share holder holding 60% OF paid up share capital.Now is the owner of the company, the company further issues 1000000 shares to public.
now in this case will mr x is owner of the company as the company
further issued 1000000 more shares