Suppose the balance sheet as on 31.03.09 of a private limited company shows Rs. 5 lakhs received from a director as share application money.This money was returned to him in december 2009 without issuing any shares. During this period this amount was used for conducting business.
Is there any non compliances of Indian companies Act?

Dear all,

My company has availed from a bank "Bill Discounting" facility. The security for the limit is "against applicable documents of title to goods viz., Bills of lading, Bills of exchange, invoices, packing lists, certificates of origin". Does this facility require registration with ROC by filing Form No.8

If remuneration to directors of a Company increased & all such directors are relative of one another, then in such case provisions of sec. 341 are applicable or not i.e. (variation in salary & commission) place of profit/office and what kind of resolution needs to be passed to give effect to above business.

Thanks & regards
Abhishek Sharma

Dear Members,

A Limited Company is having 6 Directors on its Board out of them 4 are relatives (Brothers). One is designated as MD and 3 remaining as WTD.

The Company wants increase the remuneration of all WTD and MD to Rs. 350000 per month.

Please enlighten about the imlications of Section 314, will Company require to take permission from Central Govenment ? or a Special/Ordinary resolution will suffice?


Regards,
Sudhir Mutha

I filed Form 20B, 23AC & 23ACA. In what manner, these form will upload on annual return link at MCA site??

I want to know is there any general section which deals with the following.

The Registers of the Company or records of the RoC are final or anything

We are creating a new company X which will be a Wholly owned subsidiary of Company Y. In the new company there directors will be 2 new persons nominated by the shareholders who is not having any any shareholding in the new company. Therafter some time we plans to transfer all the shareholding holds by the holding company to these 2 directors.

My question is in the MoA and AoA the clause of holding and subsidiary will be there. Once the Shareholding of holding has been transferred by the holding company to the new directors , the status of subsidiary will cease,

In such a situation suppose this directors in the new company is showing the MoA and AoA of this company to some other parties and is misrepresenting those parties by stating that it is a subsidiary of holding company Y. Whether Company Y will be having any legal liability to this misrepresentation by these directors as the clause in MoA and AoA will show that it is a subsidiary of hlding company.

Kindly brief out what all steps we can take in such a situation.

HI ALL,,,

CAN A HOLDING COMPANY SELLS ITS STOCK TO ITS 100% SUBSIDARY COMPANY.

WHAT PRECAUTIONS ARE REQUIRED TO BE TAKEN BY BOTH THE COMPANIES.

PLEASE REPLY

THANKS ALLL

Dear Sir/Madam,

Our's is a Pvt. Co. incorporated in 1995 with Article 3 of AOA having the following points (typed in short)-

1. rgt to transfer shr restricted.
2. no. of members
3. No invit o public to subscrd shrs

My Query-
1. Is it compulsory to incorporate the points following in the Article or is it recommendary.

4. mini pu cap 1 lac
5. restrct invi to pub depo to public.

I came to understand that incorporating these two wont need articles to be amended by a Gen. Meeting.

Kindly clarify?

Regards,
Vignesh J

One my client has received share application money so what are the formalities it has to fulfill? I want to know formalities required to fulfilled by both the parties applicant as well as allotter.