dear members

kindly clarify me on the following:

A private ltd company need to be declared as defunct. But where the directors(promoters) were not ready to indmenify or submit affidavit as they were on the stand that no where in the Cos. Act the directors are personally liable to crs. except when the members are reduced below the min. no. or when the directors have acted to defraud crs. They argue that the co. being an artificial person having its own legal personality is liable and not the directors as they have not given any personal guarantee.

Under which provisions of the Cos. Act, the directors cand be made liable?

How to apply for striking off the name of the co. from ROC register in the above case?

(The promoter directors were on the stand that when ROC on its own raises notice u/s 560 let the co be striken off. They have not filed AR and Balance sheet for the past 5 years.)

regards

RAJA RAJESWARI S

Our client had filed form 5 for increasing authorised capiatal from Rs. 5 lacs to Rs.10 lacs.While filling form 5,the paid up capital has been wrongly entered as Rs.5 lacs instead of Rs.1 lac.Now form 5 had been approved.Now the company master data has been updated as Authorised capital Rs.10 lacs and Paid up capital Rs.5 lacs (It should have been Rs.1 lac ).

Now,is it possible to rectify the defect ? (form 5 was approved on 14-11-2008)

What could be the consequences if it is not rectified ?

i am working in a ltd co as marketing head for 12 years and for the last 4 years served as director on board. i wanted to resign from the directorship but my management refused to accept my resignation. Pls advise how to exit from the directorship even if the management does not accept my resignation from directorship.

In a Pvt. Limited Company two directors are not having DIN number. Can they sign on agreement (Arbitration Act Section 10) related to extension of Managing Directors terms and salary etc. Please answer this question with related supporting clause.

Whether it is compulsory to file charge in form 8 with ROC for a vehicle purchased under Auto Loan scheme by hypothecation of the vehicle. There are practical difficulty is filing eform since ROC is using acrobat 7 version whereas others particularly pvt sectors bankers are using much higher version.

If not mandatory please state reasons, judicial pronouncements, case law reference, opinion of renowned authors

A limited company had no money to pay directors’ fees. The directors thereupon paid into company’s bank account the amount remaining unpaid on their shares and retook the amount as fees. Does this give a discharge to directors’ liability to pay their shares?

The nominal value of a share in X Co Ltd is Rs.100 out of which Rs.40 is called and paid up. The company, as revealed by its last balance sheet, was losing heavily. A shareholder surrenders his 20 shares to the company and the directors of X Co. Ltd. accepted the surrender. Is such surrender legally maintainable?

What is meant by freezing of a DP account? In what way freezing affects a beneficiary account holder? Can an account holder freeze a specific quantity of a specific security in an account?

I hold some securities in physical form and I intend to continue holding the same in physical form as I have no plan to sell them in the near future. If I do not get my securities dematerialized, shall I be deprived of any corporate benefits like dividend, bonus, rights etc. on the securities held by me?

I have a doubt regarding separate nomination. Suppose, I hold in my DP account some securities pertaining to different companies in dematerialized form. I want to nominate my father against some securities of specified companies and for rest of the securities pertaining to other companies I want to nominate my mother. Can I do so or do I have to nominate only one person for the entire securities held by me in my DP account?