Modified query :

The appointment letter was issued to an employee designated as Deputy Managing Director. The said appointment letter is a regular letter as issued to any other employee having the normal terms of contract for employee. Subsequently the Board approves his appointment as Additional Director on the Board on 24th January 2006 wherein it was also proposed to appoint him as Deputy MD for a period of 5 years.

Subsequently on 11th December 2006, the Board elevates him as the Managing Director with immediate effect for a period of five years.

Pl. note no separate MD contracts have been signed by the Company.

His salary is above 24 lakhs per annum. Now pl. advise me whether his nature of employment is permanent (because he is firstly an employee) or is it contractual (as MD is appointed for 5 years although there is no separate written contract) which I need to disclose in Section 217(2A) statement.

Need clarity on the above pl. asap

DEAR ALL,

How can I calculate the limits to increse the remuneration of our directors under
Section 269 read with Schedule XIII of the companies Act 1956.

Kindly advise.

We have filed a form for registration of company with ROC Mumbai. After carrying out all the corrections; prescrutinised documents were uploaded. FOrm 67 was filed and physical documents delivered at ROC. Now the site shows status as Held in abeyance. What does this indicate? No mail received from ROC
Thanks

WHAT IS DEP. RATE ON MOBILE PHONE AS PER CO.ACT

Date of first AGM is 14/7/2008.When should the Board meeting should be held?Wat shouls be the date of signing on Balance sheet by the auditor?pls help

I have come across a situation where the director himself for the allotment of shares in his name paid cash Rs.5 Lacs (which includes Rs.200000/- for Securities Premium Amount) to the company, wherein he is a director. If the cash transaction is permissible, I need the relevant provisions like circular or notification indicating that an investment (includes Securities Premium
Amount) of any sum by way of cash does not have tax impact / liability from the Income Tax angle so far as the cash transaction. Once again, Thanks for your response.

Dear Experts,

May I know the fee and stamp duty to increse the Authorised Share Capital of a Private Limited Company?

Thanks.

A minority shareholder of a private limited company is resigning due to difference in opinions & views with the majority, so what is he entitled to receive from that company like value of his share, percentage in net worth, etc???

Dear Sir,

Can you help me with the draft offer letter format by Company to shareholders for Rights Issue by Unlisted Company.

Rgds

is it necessary for a listed company to circulate/send the accounts to be approved to the directors along with agenda note for the board meeting in which the accounts are to be approved or the same can directly be tabled in the meeting itself. kindly mention the relevant section / clause also in the reply.

the reply is needed very urgently.