While Auditing a private limited company, it was found that the company has been accepting monthly borrowing: from one of its directors, who is holding 50% of paid up share capital.
My question is whether provisions of section 73(2) of Companies Act 2013 applicable in this case or ?
Or, these deposit comes under the purview of Section 76 of the Act?
Thanks in advance!

Dear Experts,

Section 196 of the Companies Act, 2013 ("Act") provides the limits of remuneration that can be paid by the Company. The same has been linked with the Net profits (Profit before tax) of the Company calculated in the manner prescribed under section 198 of the Act.
I am aware of the format and limits for calculating the Net Profits u/s. 198. However i wish to understand the logic behind of the same.
For eg: The reasoning as to why profits from exceptional items are reduced and losses therefrom added back in the said calculation.

Knowing the background of the same would help in understanding how to calculate the NP in different scenarios i.e. when one-off accounting effects are provided in the financials for eg: profits/losses from discontinuing businesses, reserves created as a result corporate restructurings, demergers, slump sales, IND-AS adjustments etc.

Experts vews are solicited!!

1. Can a company having a registered office in UP, setup their Corporate office in Bihar? if yes, then do we have to inform both the RoC's or MCA and also what would be the process?

2. Also the book of Accounts & Board meeting records needs to be maintained in the Corporate office in Bihar.

So please advice.

I have filed mgt-7 of a private limited company but forgot to give details of director remuneration in mgt. Now i have to increase director remuneration will it lead to any non compliance. Plz suggest.

Hi,
A pvt. Ltd Co. recent open it's branch office in vidyasagar street, kolkata-700009 and co's regd. office is at beadon row, kolkata-700006.

Now company want to shift it's regd office from beadon street to vidyasagar street.

Co. branch office is on rent and rent agreement is there, so is there another rent agreement is required with the owner of the pemises of vidyasagar street. kol-700009 for regd office.
Os it possible for co. to run with branch office & regd. office at same add. OR has to conver from branch tom regd office.

Thanks & Regards
Ajoy singh

Whether a company can take loan from Director's HUF? Is Director's HUF covered in the definition of relative or does it imply a relation between the members of HUF?

I want to registered a company which object clause is " Money Changer" , Can I have a suffix as (name) Forex pvt ltd ? i want the suffix like forex pvt ltd. can this type of name be available to the company?

Should a share holder compulsorily be a director of a company according to companies act 2014

Hello,
We have a Pvt. Ltd. Company formed in 2002, we neither filed any returns or resolutions with ROc.
The Company is in Dormant Status and not working since 2009, even the income tax returns were not filed since 2009, as there were no transactions in the company.
We would like to revive the Company and make it active to start working.
Kindly help us with the procedure required for regularizing the company.
Regards,
Ashish

I wish to take the name of a company "GLOBAL PACKAGING PRIVATE LIMITED" which shows "strike off" on MCA Website. Would it be allowed?

OR alternatively, Can GLOBAL PACKAGING PRODUCTS PRIVATE LIMITED be allowed to me or is it too closely resembling? On MCA Website> Check company name, it is shown as "Available to Use".

Please provide suggestions.