I would like to know if a proprietorship firm, or a partnership firm has a shreholding structure, or can issue shares in the family.

Dear Experts,

Page 8 of Annual Return – Clause (e) where the annual return discloses the fact that the number of members of the company exceeds fifty, the excess consists wholly of persons who under sub-clause (1) of section 3 are not to be included in reckoning the number
of fifty;


Query 1

Whether the said clause shall apply only to 'Company Limited by Members' and not for 'Company Limited by Shares'.

For Private Limited, can we strike off the said clause.


Experts’ views are requested.

Dear Experts,

Page 8 of Annual Return – Clause (g) the company did not have an average turnover of Rs. Ten Crores or more during the relevant period;

Query 1

ABC Private Limited has sales turnover of Rs.27 Crores for FYE 31.03.09.

Should we strike the above said Clause (g) in the AR, as the sales turnover is Rs.27 Crores ?

Query 2

What is average turnover ?

Experts’ views are requested.

Can A Director (P. Ltd. Com.) Payment in Cash Rs.20000/- or more pay or not ?

Dear Sir/ Madam,
A construction company entered into an agreement with a NRI for construction and transfer of flats in India. But due to unforeseen circumstances company was not able to complete the construction within time and as per agreement the company have to refund the purchase consideration. The original inward remittance came through normal banking channel and the company wants to remit the refund to NRI's NRE account. AP DIR Circular No. 46 dated November 12, 2002 allows such refund and as per the circular there is no RBI approval is required and no time limit is stipulated. But authorised person stipulates RBI approval is required as 180 days has elapsed after the original inward remittance and the company has to give application both to the AP and RBI. Please guide me whether I can follow the above circular or any other circular is there in this regard and whether authorised person's contention is right?

An investment company wants to hive off its investment to another company. Can it do so pursuant to scheme of Demerger as envisaged u/s 391 to 394 of the Companies Act, 1956. Whether such hiving off will qualify for treatment as demerger u/s 2(19AA) of Income tax Act?

we are a company regd under sec 25 ( with limited liability )of the Companies Act with a Capital outlay of Rs 40 crore and main object being to promote the system of discharge of the treated effluent water . We have a query and need to know :

1.What provision governs the contribution from the memebrs of the Company on account of membership fees .

2. Can we also accept deposits (interest free) and if yes ,what are the related provisions governing the deposit acceptance.

3. Can we also take unsecured loans from the members ( Interest free) which are repayable to them out of the contribution recd.from members.

4. We will receieve capital subsidy from the govt . Can the loans from members be repaid out of the capital subsidy recd from the govt.

Pls give your expert opinion the sited queries.

Hello evreyone

Please let me know that can the minutes of private limited investment company show the share trading done on behalf of the company.
If yes then please provide me with the draft resolution of the same for describing purchase and sell of the shares. Waiting for early reply

Thanks

hello friends,

I have some problem regarding drafting of minutes. Please tell if there is any logic in it as per Secretarial Standards.

-- Firstly I drafted agenda of Board meeting and in agenda i wrote as follow:-

1 TO CONSIDER APPOINTMENT OF SHRI X AS AN ADDITIONAL DIRECTOR

-- Now at the time of drafting minute I used same heading in minutes, as previously done

1 TO CONSIDER APPOINTMENT OF SHRI X AS AN ADDITIONAL DIRECTOR

But one of my senior argued with me that it should be in past tense and it should be as under:

1 Board Considered Appointment of Shri X As An Additional Director.

Hi Experts

can you pls provide me the "Board resolution of corporate guarantee"

my company have to give CG to its costomer and as such the limit is not exceeding so only Board resolution is required.

pls its urgent