a Pvt.LTD co. whose business as per MOA is to hire and purchase assets it makes a transaction in the comodity market in the nature of intra day transaction and makes profit therefrom and disclosed it as other income in their P/L Ac.
it is to be noted that no approval yet has been taken ofthe BOD but that will be obtained.

plz guide whether the transaction is valid and whether the treatment thereon done is valid or not

Dear CA club Experts

Please let me know the Checklist,Documents and process to increase the share capital of Pvt. Ltd. Company. we have a Client with the share capital of 500000 and wants to increase it to 1000000.Please let me know in detail.

Thanks & regards

Deepika Tyagi

PRIME CFO management Pvt. Ltd.

1. Can a CA in India act as a director of the company. If So, What is the limit?
2. Can a practising CA in India act as a director of the company? If So, What is the limit?

Dear all,

Please let us know the procedure & the time limit within which a share Holder of a "Co-op.Bank" can claim the "Unclaimed Dividend".

Thanks,

The Cl. 49 requires a listed company to have at least 50% of its directors as "independent" directors, if the chairman of the company is an Executive Chairman or he is related to Promoters family.

My query is - what if a company does not have a Chairman.

A company has option (but no compulsion) to appoint a Chairman of the Board. If a co. appoints such a Chairman, then at each meeting of the Board, he takes the Chair without any need for electing a chairman for every meeting. But if there is no such appointed chairman, then at each Board meeting the directors present will have to elect a chairman for that respective meeting.

Thus, the query is - if there is no such appointed Chairman, then can the company be exempt from the restrictive requirement of 50% "independent" directors? (In which case, it would be sufficient for the company if it has just 1/3rd of the directors as "independent"

Anil Kale

I had recently incorporated a company.. but its been 2 months now tat the bank account hasnt opened.. wat r the implication of the same.

What is the process for appointing a auditor.

What is the process for alloting shares to share holders

can any body guide me over this -

the query is regarding applicability of the Indian companies act and
other applicable legislation of a partner of the stautory auditors of a
listed company(abc ltd.) appointed as a director on the board of a 100%
subsidiary company registered and incorporated in a foreign country.

it is also pertinent to clarify that the aforesaid partner of the
auditors firms is not a signatory to the annual accounts and auditors
report of M/s abc tld..

Q. whether the partner of the statutory auditors firm can be appointed
by M/S ABC ltd. on the board of its 100% foreign subsidiary even if
such partner is not auditing / signing the annual reports and auditors
report?

Reagrds
Shruti

as per sec 283(1)(g) a director has to vacate the office if he absents himself for 3 consecutive meetings or all the meetings in a year whichever is longer.,without obtaining leave of absense.,

so it means a director need not vacate if he subnmits his leave of absence n the same being approved by the Board

A company has issued QIP & warrants. for the same company has paid commission of Rs.2500000/-to lead managers.Right now we are showing it under miscellaneous expenditure not written off. Can it be deducted from Securities Premium Account as section 78 of Company Act,1956.

1. Today i saw a newly incorporated companys master data in mca portal in that authorised capital is 100000, paidup capital is 0. my doubt is whether should i file the form 2 or any other e-form now.

2.What is the procedure for issuing the shares for other than cash.