Friends,

One indian company exporting goods to uk. they have one person in uk like agent. invoice will be raised in the name of agent. he will sell the goods in uk to various parties. the payment to the indian company, agent will send only 90% of the invoice amount. 10% he will retain.

is there any restriction under fema for this transaction?

There is A Pvt. Ltd. which becomes on 1st April, WOS of B Ltd. And so provisions of section 3(1)(iv)(c) it becomes Public company.

SO the question is whether application to ROC for conversion of the company is mandatory?

if yes within what time?

If ROC convert the company to a LTD company on application from when the covnersion be effective for the purpose of application of other provision of Companies Act, as may otherwise be applcable to Pvt. Companies.

And should be the status of the company during the period of application is pending

Dear,

Pvt ltd. Co. incorporated on 20th March 2009. Now can I prepare statutory audit report of co. as on 20.04.2009 for the financial year 2009-10 and when should be held A.G.m. of co.

ca pawan singhal

What is the provisions/procedures for further issue of shares to existing shareholders by a Private Ltd Company? Is it necessary to pass a Special Resolution in EGM? Please guide and mention the time limit for compiling related provisions.

In Idian Companies Act, there is a term One man Company.
What is One man company?

Thank for your response

When is internal audit compulsory for private limited companies?

Rates prescribed in Schedule XIV to the Companies Act, 1956 are not mandatory . But as per section 349 and 350 for the purposes of calculation of managerial remuneration availability of profits for distribution as dividend, the rates prescribed in said schedule shall have to be applied.

But what if we are not distributing dividend and we calculated net profit for managerial remuneration separately then what will be the position.........???

Statuary Meeting is held once in a life of of a Ltd. Company.

A partnership firm convewrted into Ltd compnay under Part IX of the Companies, Act, 1856,

My queries is Statutory meeting is compulsory for the said companies within 6 months of its incorporation.

Or

When Private Ltd companies converted to Ltd Company, in that case statutory meetiung is need to hold

A private company pays only professional fees to the director. No other managerial remuneration is paid.

Is it allowed under companies act?

As we all know a company being a juristic person can become a partner in a partnership firm, if it is authorised to do so by its objects.

But the liability of a partnership firm is unlimited on the other hand liability of a company is usually limited.

My Query

So if a limited company becomes member of a partnership firm then what would be the status of company’s liability in that Partnership Firm?
Is there any decided case law etc.?