Is it compulsory minimum salary of Rs3500 in the case of public ltd. company for every employee.

Dear Professionals

According to section 299 every director is required to disclose his nature of interest in a contract entered into or to be entered into by or on behalf of company.

But Sub section 6 of said second says that whenever there is a contract or arrangement between 2 companies, section 299 will not be applicable if holding of one Director or combined holding of more than one director does not exceed 2% in other company.

Query:

If A, B, C are the Directors of the public company and individual holding of A,B &C in another public company is less than 2% but combined holding of A,B, & C exceeds the limit of 2%.

Then in that case disclosure is required under sec 299 (6) by all the three drs A,B,C.

& Section 300 restricts the interested director to vote if they are interested.

Are all drs A,B,C restricted to vote acc. to section 300 even if individual holding is less than 2%.

Whereas Section 300(2)(d)(ii) says that section 300 will not be applicable if the director is holding is not more than 2% shares in other company. Is this section talks abt the individual holding of director.

Thanks & regards
Deepika Bhardwaj

Can a Private limited company by a resolution in Feb 09, resolve to end the financial year on sep 08 .

A foreign company intends to form subsidiary in India. Considering the nature of activity, it requires permission from FIPB for setting up the subsidiary in India. How to approach? Do we need to form the company first? or seek the permission for the formation of the same? where the office of the FIPB is located where the applcation could be made? and which form is to be forwarded?

whether effective date has been notified by the CG for the above mentioned sections...

whether effective date has been notified by the CG for the above mentioned sections...

How to reduce the file size in roc forms while feeding data into it. I particularly want to know the saving procedure in adobe to reduce the file size. Because after feeding data when i save it the file size becomes 2.6mb or more i dont know why it happens and i have to once again feed the data in fresh form.

WHETHER TWO SEPERATE MINUTES BOOK HAS TO BE MAINTAINED FOR DIRECTORS & SHAREHOLDERS MEETING

IF TWO SEPERATE MINUTES ARE TO BE MAINTAINED THAN HOW CAN SERIAL NUMBERING BE POSSIBLE

Dear Memebers
Is there a maximum time limit for holding an EGM for appointment of first auditors, where the board as failed to make the appointment within stipulated time. What are the implications under Companies Act

Thanks
Simant Prakash

When a Company fails to file intimation of Charge Satisfaction u/s 138.

In this regard section 139 states that the ROC has the power to make entries of satisfaction and release in absence of intimation from a Company.

Would section 141 still be applicable.

And what would be the procedure.

Please Explain?