as per section 77A of the indian companies act 1956 there is a limit of buy back 25% of paidup capital and free reserves.Free reserve means as defined in 372A. As per 372A free reserves means those reserves as per the latest audited balance sheet of the company,are free for distribution as dividend and includes balance to ther credit of the securities premium account but not include share application money.

Now the question arises what is the meaning of Latest Audited Balance Sheets.

If a company makes Interim accounts( half yearly or so ) and get them audited,will it be considered as Latest Audited Balance Sheets for this section.Please note that the company does not change its financial year which remains the same( annual).

What is the position if interim accounts are adopted by the board,audited by the statutory auditor and placed brfore the shareholders in EGM called for this purpose and also got approved by the members in the EGM.Can these results be consideredas the audited results for the purpose of section 372(A).

please give your opinion.

Whether personal guarantee issued by directors as a security to bank for working capital facility needs to be mentioned in Form 8

HELLO SIR
SIR MENE MCA KA E-CHALLAN GENERATE KAR DIYA HAI.

MANE SRN NUMBER RECEIVE KAR LIYA HAI PLEASE TELL ME MENE PAYMENT BHI KAR LIYA HAI BUT UTN KYA HOTA HAI AND HOW I SUCCESS FULL PAYMENT FOR MCA21. PLEASE GIVE ME SUGGETION

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CPT STUDENT

Respected Experts
Is it possiable that a person can hold 100% paid up equity share Capital of a Private limited Company
Again is it possiable that a person can hold the post of a director in a private limited company without holding any equity shares into that company
Thanks
Debashis Mandal

Dear Sir,

I want to know that what are the duties, rights and liabilities of a promoter(subscriber to the memorandum)? If promoter feels his name is being misused as he is promoter and shareholder holdiing more than 10% shares?

Dear All,

Can we appoint a Director who is a Foreigner as an occupier as per the Factories Act, since he is not living in India continuously and comes only for Board Meetings.
In case he is not allowed can an employee of the Company appointed as an occupier.

Thanks

Can Anyone provide me the draft of resolution for appointment of Whole Time Director in general meeting in case of Private Company??


Thanx & Regards

A company incorporated in the year 1999 with Father and elder son. His younger son was appointed in the year 2010. The company is in default of filing annual forms with roc from 2009. One of the promoter is died recently. He has no valid din also. We faced problem of filing form 20B. What is the remedy. Please help.

Hi All,
a pvt. company is shifting registered office from Mumbai to hyderabad. after filing form 61, copy of petition along with other documents has to be submitted to CLB and Secretary. Can any body pls give me the address of secretary office(mumbai) office where such app. is to be submitted?

Dear Experts,

Facts:
The Applicant of Form 1A is a practising Chartered Accountant.

Query:
If on Applicant field CA signs the Form 1A. So whether is it possible that the same CA certifies the Form 1A.

In other words, whether the applicant and the person certifying Form 1A can be the same person.

Thanks & Regards