Dear Sir,
A Company named ‘Y’ has a wholly owned subsidiary private limited company in addition to other Companies in the group.
‘X’ is a managing partner of a Law firm and his firm provides legal services to the Company ‘Y’ and its other group Companies for about 2 years now and would continue to do so in the years to come. For this, Company ‘Y’ and its other group Companies makes payment to the Law Firm by cheque.

Now, this is regarding the appointment of ‘X’ as an independent non-executive director in the Board of the Company ‘Y’.

Now, does this attract sec- 297 of the Companies Act, 1956? Do we have to take approval of Central Govt.? Please give a detailed picture.
Request all the experts to provide their valuable opinion?

Regards
Arijit

Hi all

Last application in a pvt. company was received on 25/12/2010 and the allotment was made on 20/12/2010 by mistake, can we revise this FORM 2 of file an addendum.

experts are requested to advise.

We submitted FORM 1A for change of Name. ROC send back the same for Re-submission since the name which we mentioned in Form-1A is similar to one existing company name.

So we want to opt for another name which is not mentioned in current Form-1A, what is the proceedure for same.

Is it enough to resubmit the present Form-1A with another board Resolution before expiry of the same

I wanted to know the procedure for removal of the auditor of a private company.

The Auditor was appointed and latter the company wanted to remove him during the term of his office.

What will be the procedure for this removal and is the provisions of taking prior approval of central Govt.applies in this case

Our client has formed LLP and two directors has obtained DPIN No. But as per amendment now DPIN alloted to director is converted into DIN no.But our partner of LLP is also director in other company and he has already obtained DIN there.so director has two DIN.please give me suggestion what i have to do for cancellation of DIN alloted by LLP by conversion of DPIN into DIN? And also what is procedure to intomate to the LLP about Changes in DIN no?

a pvt. limited co. is incorporated wid 3 subscribers to memorandum. Now if it wants to issue share certificate to each of the 3 in physical form please tell me that whether stamp duty needs to be paid on the same. cos. regs. office is in haryana and if it needs to be paid how it can be paid. Also stamp duty on form 1,moa and aoa have been paid electronically earlier

A company ABC pvt. ltd. has incorporated its foreign subsidiary company & has made investement in it by passing board resolution by circulation. Majority of directors has assented the same and investment has been made.One of the director who has dissented is now objecting that the above resolution should be passed at actual Board Meeting as required as per section 292 of Company's Act, 1956 . please give the remedy for the same, if any.

promoters contribution in public issue as per law




public issue by unlisted company is 20% of the post issue capital




and it also written minimum contribution of Rs. 25000 per application from each individual and minimum contribution of Rs. 1 lac from firms and companies shall the eligible to be considered towards promoters contribution




if where promoters minimum contribution exceeds Rs. 100 crore the promoters shall bring Rs. 100 crore before opening of the issue and the remaining contibution shall be brought in by the promoter in advance on pro rata basis before the calls are made to the public.




QUERY:



1)what is the meaning of post issue capital?



2)exaplain briefly "minimum contribution of Rs. 25000 per application from each individual and minimum contribution of Rs. 1 lac from firms and companies shall the eligible to be considered towards promoters contribution"




3)explain brieflywith example "in advance on pro rata basis before the calls are made to the public."

Dear Experts,
My query has reference to the above subject.
My entire query revolves in & around the interpretation of the phrase "any such director" recited many times in the said section.
My query is-
The said section covers loans given to Directors specified in clause (a) to sub-section (1) to Section 295 of the Companies Act, 1956. It also covers the parties specified in clauses (b), (c), & (d) using the phrase "any such director". I just wish to know whether the said section will be applicable if the loan is not given to the Director but a Private Company in which such Director is a member or director?
Example-
A Ltd. granted loan of Rs. 1 Crore to B Pvt. Ltd. Whether previous approval of the Central Government is required in this case? It may be noted that no loan is given to any director of both the companies.
For the applicability of this section to A Ltd. above, is it necessary that the loan must have been given to any of the Directors of A Ltd. or B Ltd. above & then only the said section will apply to A Ltd. above?
Your early reply to this query will be highly appreciated.
Thanking You in advance...
Regards,
Mayur R. Gadhia

If a Bonus Issue is approved by the Board of Directors,within how many days/months,the issue should be implemented?