The promoters of a company contributed money for a business. A Private Limited company was to be formed for the business. The formation delayed. The money contributed by the promoters will be treated as unsecured loan funds to the company with interest. But the interest will be calculated only from the incorporation of the company. Till that period the amount invested by the promoters will not generate any returns.

Can the company give interest from a date before the formation of the company. Or can the company pay interest at a higher rate during the earlier periods and later reduce the rate.

Please advice any other methods by which the promoters can receive returns for their investment.

What is the maximum rate of interest that the company can give for the loan taken.

Is it necessary to affix common seal on the certified true copy of the board resolution for availing credit facility from bank.

The Bankers have asked for it.

Dear members
Kindly clarify me over the following issue:
A private limited company with 2 shareholders cum directors A & B, has stopped its production due to heavy loss and it has not yet finalized the B/s as on 31.03.2010 and it has not yet conducted its AGM. The AGM during the P.Y. was conducted on 30/09/2009. On 31/12/2010, X and Y has agreed to purchase the entire shares from A & B respectively and also to be appointed as directors of the the co. The entire company is now purchased by X and Y. A and B has consented to retire.

What is the procedure to conduct AGM which is not yet conducted and to file the Balance sheet which will be finalsed sonner? ( the company has not yet applied to ROC for any extension of period of AGM )

Thanks & regards

what is the provision in co act regarding interest on application money? how long money cold be pending for allotment?
is application money classified under current liabilities?

according to co act ,is there any time gap between two AGM?

Can anyone tell me that whether a private company can hold its AGM at a place other than the Registered office ie a company having its registered ofice at 'kolhapur' can hold its AGM at 'Mumbai' with the consent of all its members.

Proviso to the Sub sec (2)of Sec 166 provides that a private company can decide its place of AGM by passing a resolution with the consent of all the members of the company.

Kindly explain with reasons and case laws if possible.

Dear Professional Colleagues

A Bank sanctioned BG limit of 125 Crores and CC Limit of 5 Crores to XYZ Ltd. While filing form 8, Company fill CC limit of 125 Cr. & CC limit of 5 Cr. i.e. forget to write BG and write CC in place of that.

Is there is any alternate available to rectify the mistake or XYZ has to approach the CLB to rectify the same.

Regards
Abhishek Sharma

In case of Formation of LLP: 2 proposed Designated Partners are Indian and 2 are NRI.

I have following queries:-
1) DPIN Application procedure for NRI is same as DIN Application of NRI?

2) There will be Contribution from NRI in proposed LLP then what will be the RBI Formalities to be followed? Is Form FC-GPR will applicable in LLP case as like Company?

Thanks!!

Hi all,
Can anyone guide me the procedure of closure of liason office. Do we need to take any compliance Report of ROC for filing closure application to RBI.
If yes, then how & in which form.
Also when I need to file form 52, whether is it to be filed before or after making application to RBI.

Thanks

Which compnay has to compulsorily appoint a full-time company secretary. Can a compnay having a paid up capital of Rs. 5 Crore opt to get Complince Certificate from a practicising CS or appoint him on retainership basis instead of appointing a whole time CS.