A private company can accept loan only from director, its relatives and shareholders.

My query is: if a private company has taken a loan from Mr. A (who is shareholder of company) in 2005 of Rs. 10.00 Lacs.

But now Mr. A has transferred all its shares in 2009 to some other member.

Can the loan accepted by the company from Mr. A while he was shareholder of the company be continued by the company in 2009 when he has ceased as shareholder of the company. Else the company is required to repay the loan to MR. A now because as on date he is not member of the company.

1)Can resolution for increase in authorised share capital be passed as an ordinary resolution?? if yes/No then on what basis??


2) Is it required to pass special resolution for issue of bonus shares and file form 23 for registration of it??


Thanks
Vandana

We all are aware of the term ‘as defined in section 7 of Act,
What does the term ‘person’ includes in that section, only individual or other persons also.


What are the provisions of companies act which applicable to a director is also applicable to deemed director.

what are the independent directors and what are there liablities?

Please guide me on the following:

Where a public Limited company has taken unsecured loans from the some person(other than Shareholder and directors etc.).Whether this loan with in the defination of Deposit under section 58A& 58AA. if yes, What are the formalities, the company has to compile with now

how many managing partners can be there in a partnership deed?

If one pvt.company has not file any Form 23AC and ACA even Form 20B since its incorporation but company has regularily filed IT return and in that case if that company file 23AC and ACA then penalty will be approx 5,000 per year so how can that company minimise this penalty??

Any suggestions please!


Thanks & Regards
Vandana Kacholia

SON OF OUR MANAGING DIRECTOR IS A NRI
OURS IS A PUBLIC LIMITED COMPANY. CAN WE APPOINT SON OF M.D AS A CONSULTANT IN OUR COMPANY. WHAT WILL BE THE PROCEDURE

Dear Friends

what happen on occassion of death of one director in public limited company when there is only three director in the company. please tell me is there any time limit within which causal vacancy u/s 262 is required to be filed

An early reply would be appreciable.

Regards
Sarabjeet

Dear All

99% Shares of an Indian Pvt Company are held by a foreign listed public company. The balance 1% shares are held by a foreign individual. But, the beneficial interest is vested with foreign listed public company.
Now, does the Indian pvt co can be considered as subsidiary of public company as per the provisions of Sec 4(7) of the Companies Act, 1956.
Please clarify at the very earliest.