Dear Sir,

MCA has exempted private companies from compliance with provisions of section 185 of Companies Act, 2013. Subject to fulfilment of three conditions :

1) no body should be member of a private company

2) the "borrowings" of such private company should not exceed twice of its paid up capital or 50 Crore whichever is lower,

3) private company should not make any default in repayment of loans.

Whether in condition no. 2 above the word "borrowings" means total borrowing including term loans and working capital or only term loan ????

Kindly give clarification on this points.

Regards,
Sachin

Hi Expert,

Please define with examples that what is beneficial interest and registered owner... under companies act 2013

I have file INC 1. 3 days almost gone and status showing "pending for action". any time limit for approval of INC 1 from central Registration centre?

if we file Form GNL-2 in F.Y. 2014-15 for auditor appointment(5yr.). and because of filling of Form GNL-2 in F.Y. 2014-15 we have not any liability to File form ADT-1 for 15-16. And for filling annual return in 14-15 we file SRN No. of Form GNL-2 in Form AOC-4 . But when we do filling for 15-16 then whether we do same treatment or not in form AOC-4

Dear Professionals,
Greetings...!!!
The status of our company has been changed from public company to private ltd. with necessary approval of Mumbai ROC, now we have certain confusion regarding the intimation of the same to the banks, because we have issued many PDC cheques and we have also going to receive cheques from a large number of clients, and if we intimate and update the bank account name then what will be the consequencies of those Post dated cheques and it is also so difficult to intimate all clients and debtors to issue cheques in the new name. Please guide us regarding this

whether a private limited company can borrow funds from LLP? or is there any exemption to private limited company in section 73 of deposits rules.Plz urgent to be clarify

I had been working in Finance for about 25 years and have recently started on my own. Wish to learn Company formation myself first before offering this service to clients.

I know that a lot of info is available on the net, but that does not help when you actually try it out. Looking for guidance from experienced people on how to go about it or where / how can I find somebody for this help. If needed am willing to pay for the help.

This sounds odd, but life takes queer turns.

Dear Professional colleagues,

When Private company wants to convert itself into OPC then share holder should be a one person only. My query is what is the documentation/compliance required to be done for doing the same. Either transfer it or only filing of Form INC-6 is sufficient?

Thanks in anticipation

Can any one send me...

Dear Expert,

We have unsecured loans from our directors for approximately Rs. 100 lacs out of this we want to issue equity shares amounting to Rs. 76 lacs.
Is it possible to issue Equity shares from unsecured loan? If yes. then what is the procedure of the same.

Reply as soon as possible.