Dear Members,

could any body guide me on the following issue:

a) Mr.A is whole time employee(Not Director) of XYZ Pvt Ltd company and also getting salary from this company .

b) ABC Pvt Ltd(Which is subsidiary of a Public company) wants to appoint Mr.A as Managing Director of the ABC Pvt Ltd.

Is there any violation of companies Act, 1956 ?

As per my concern companies Act, 1956 no where restrict for appointment.

If i m wrong please guide me

CS Amarendra

9505507591

Hi...
Section 288 of the Companies Act, 1956 provides that a Board Meeting adjourned for want of quorum can't be held on a Public Holiday! Now as per section 2(38) of the Companies Act, Public Holiday means as defined in the Negotiable Instruments Act, 1881. Section 25 of the Negotiable Instruments Act, 1881 defines Public Holiday to include Sunday and any other day declared by the Central Government or State Government to be a Public Holiday.

Suppose a Board Meeting is scheduled to be held on 17.11.2010(Wednesday). On the day of the meeting, adequate quorum was not present and the meeting was adjourned to next Wednesday. On Friday, the State Government declared Wednesday to be Public Holiday. My query is whether this declaration by the State Government will be treated as a Public Holiday?????? and the Board Meeting can be held on Wednesday or not??????????

Now, proviso to section 2(38) provides that any day declared by the Central Government as Public Holiday shall not be treated as such if the declaration is made after the issuance of the notice of the Meeting and the Board Meeting held on such declared Public Holiday will be valid. The Act is silent on the declaration made by the State Government.

Please clarify.......

Hi....

Can somone provide me good commentary on Managerial Remuneration please?????

What would be the effective date of increase in authorised capital of the company.

1) date of passing special resolution in EGM
2) Filing of form 5 to ROC.

3)Approval of form 5 by ROc

Pls suggest

REgards

Yogesh gupta

Our company registered under section 25 of companies act and earning profit Rs25 cores
But, directors not taking any remuneration and setting Fee (last 25 years)
Is it correct not taking remuneration and setting fee under companies Act?
Is there provision under companies act?

whether reappointment of MD is mandatory after 5 years of his appointment in a private company which is not a subsidiary of public company... please explain wid provision to Com. law.

Can a Private limited company be sold off to a sole propritorship. if yes how?

Sir,

One company incorporated on 2007. They didn't file any forms with mca except incorporation documents. They filed promptly all the serivce tax and income tax and sales tax returns up to date.

Now the problem is, at their MOA and AOA they subscribe only for 1500 shares of 100 each. But their statemets filed with the income tax showed the Share capital as 9,50,000 (i.e. 9500 shares of 100 each). If we file Form 2 from the earlier date, heavy additional fee should be paid. Is there any possibility to avoid the heavy penalty?

are there any restrictions for declaring a dividend of 400% for a private co. except transfer to reserves 10% of financial year's profits

Dear Friends

Please let me know whether PAN Allottment letter issued by the IT department will be accepted as proof of residenc. Please offer your comments and experience.


Sureshan K