I would like to know the procedure that is needed to be followed to declare an interim dividend by a private limited company.

Dear All,

As per Press Note 7 of 2008 issued by the DIPP (available on the DIPP website) the minimum capitalisation of foreign holding requirements for NBFC's are as follows:

1. US$ 0.5 million in case the shareholding percentage is below 51%
2. US$ 5 million in case the shareholding percentage is between 51% & 75% &
3. US$ 20 million in case the shareholding percentage is between 75% & 100%

I want to know whether such minimum capitalisation requirement will also include the premium at which the shares are issued? Or whether 0.5, 5 & 20 millions should make up the total nominal amount of the face value of shares only.

Also please inform as to any Act, Rule, circular or notification or any other document where the definition of minimum capitalisation is given..

Need not necessarily be FDI norms... even SEBI etc may be applicable.

Would really appreciate an answer at the earliest.

Thanks in advance, Regards,

Chandan

The authorised share capital of the private limited company was Rs.1.00 Crore as on 30th Nov.2007. After passing the resolution in Extra Ordinary General Meeting it was increased to Rs. 2.00 Crores. But,the fees for increasing the authorised share capital was paid int he government treasury in delhi on 26th Sept, 2008. The Form 5 was also filed on 26th Sept, 2008.
As on 31st March,2008 can we show as under:

Authorised capital - 2 Crores.
Paid Up Capital - 1.50 Lacs
Share Application Money - 1.00 Crors.

I want to know if a company incorporating a new comapny then whether it should go for incorporation of new subsidiary co. or incorporation of new co. as a Joint venture.
what are the major advantages or disadvantages of subsidiary or joint venture.

Please reply

I would like to know the implication of section-212 of Companies Act, 1956 on overseas subsidiaries.Do we have to prepare balance sheet , profit and loss account , directors' report and auditors' report of overseas subsidiaries in accordance with companies Act, 1956 apart from the respective country's law or is there a way out for this??

Plz provide a format of resolution for closing a bank account of hte comp.

What is the term of office of a director retiring by rotation. Assuming that a director is appointed at an AGM, does he remain a director upto the end of the AGM (based on 2/3rd majority provision etc.). Auditors appointment specifically states that the appointment is valid upto the end of the next AGM, but similar provision is not available in the Companies Act for director's appointment.

Can someone clarify.

Hi All,

If a Company wishes to borrow money from its Directors then what are the procedures to be followed by that Company and its Directors? Is there any specific provision in the Companies Act which deals with the Borrowing from the Directors or just verifying the provisions in the Articles of Association of that Company is suffice?

Hi,
What is Due Dillengce? Which Companies are required to do Due Dillengce? What is the Objective Of it? What is the Time gap Allowed between two Due Dillengce Report? Can any one Give me the full information about it?