Dear Experts,

A pvt ltd co has received by cheque a sum of rs. 10 lacs towards share application money. It has not issued any shares. The amount received has been utilised in the subsidiary company located abroad.
1)Is there any time limit to issue shares?
2)Is there any violation in utilising the share application money?

Can a asset whose WDV at the beginning of the year is less than 5000 be depreciated at the rate of 100% ?

if yes,
plz give the legal base of the answer.
thanks in advance.

Does a shareholder after forfeiture of his shares, remain liable to the company for unpaid part of capital on his shares? Until when and to what extent does he remain liable?

Please tell me the procedure to issue unlisted shares in case of Listed company?

A company incorporated on 30.06.2007.wht will be date of First AGM.Can it be 15.12.2008???? A R/Person told that First AGM must be held within the first six month after ending First financial Year.According to that First AGM must held before 30.09.2008????.

Sir/madam while going through the company master data i found out that the authorised capital of the company is shown as 5lakhs whereas actually it is 1lakh. What is the procedure to change the same and which documents are to be sent to ROC for correction of the same.

Thanking you in advance
Regards
Anthony Karayil

Can a company change its share holding pattern after AGM and before submission of annual report?
Pl explain whether any penalty is attracted for this under Companies Act or IT Act?

Hi,

Can anybody give me the format of various resolutions to be passed by a company especially the resolution for change in the registered office.

Thanks.

As per NOTES to SCHEDULE XIV :
"Provided that where the aggregate actual cost of individual items of plant and machinery costing Rs. 5,000 less constitutes more than 10 per cent of the total actual cost of plant and machinery, rates of depreciation applicable to such items shall be the rates as specified in Item II of the schedule."

Example :
there is 1 heater and 1 machinery under head Plant & Machinery :
A-29000
B-15500

addition in A-4000

as it is less than 5000 and also less than 10% of 29000(10% of A),it
will be depreciated @ 100 % ?

OR

as it is less than 5000 and not less than 10% of 44500(29000+15500),it will be depreciated at normal rates ?

If a director is common in 2 Public companies and hold less than 2% of the share capital of the Company, then will his vote be counted in the Board Meeting on the matter of a contract or arrangement to be entered into with that other Company??Is he interested under section 300???


Please help me to sort out the query...need answer urgently...