Hai.

The pvt ltd company is recieved 9 crore from its holding co during the year.The opening balance of share application money
remains unalloted in Balancesheet Rs 2 Crore.
I s there any rime limite allot shares??

Can subsiadiry reciece share application money without increasing authorised capital?

Where the appl money should shown in financial statement?

Dear Sir,

I am cutting and pasting the query of a caclub member and your reply to that.After reading your reply the member asked some other question. Unknowingly he seemed to have closed the query. I have also inculded his next query.

Since I have the same doubt I request you to please answer it.





Experts Home > Corporate Law > private company
author : Kumar
Posted On : 7/16/2008 11:24:05 AM
Dear Members,
Please advice/confirm.How far it is permissible under companies act,if the company bestowed the tile of director to its employees such as director(finance),director(human resource) etc.Please also clarify the exact position under Comapnies Act whether such practise is permissible.

Regards,
Kumar



Expert : S.Srinivasaraghavan
Posted On : 7/16/2008 11:31:02 AM
The companies Act does not contain specifically any provision to ban such designations.



author : Kumar
Posted On : 7/16/2008 11:41:56 AM
Dear Mr.Srinivasraghavan,

Thanks for your reply.But there is one such departmental clarification by Departemnt of Company Affairs letter no. 2/82 dated 20.1.83 which forbids such practise by corporates.Please confirm whether such departemntal clarification is relevant in present time.

Regards,

DEAR FRIENDS,

DURING AUDIT OF BOOKS OF ACCOUNT OF A PVT LTD I NOTICED THAT,THE COMPANY HAS DECLARED INTERIM DIVIDEND OUT OF ITS RESERVE WHILE HAS ENOUGH CREDIT BALANCE IN PROFIT AND LOSS ACCOUNT.CAN A COMPANY DO SO.IF YES, WHAT IS THE CONDITION RELATED THERETO.

Dear Members,
Please advice/confirm.How far it is permissible under companies act,if the company bestowed the tile of director to its employees such as director(finance),director(human resource) etc.Please also clarify the exact position under Comapnies Act whether such practise is permissible.

Regards,
Kumar

Can i get the rates of depreciation as per schedule XIV.the latest ones...

WHAT IS THE MEANING OF WRIT PETITION.

WHAT IS THE SEALED CONTRACT?

WHAT IS THE SEALED CONTRACT?

Under what head share application money pending allotment will come (unsecured loan or current liabilites)?

We are a listed company. Can we show the unsecured loan from Director as "Quasi Capital".
If yes, what is time limit upto which I can convert the Quasi capital into shares?

Is it necessary then to allot shares against the capital?

Secondly what are the implications if I do not make the required allotment in future.