Dear Friends / Experts,

Please guide me on the following, IF POSSIBLE:

I am trying to file INC-7 and other forms.


Query

In the Form for Promoters Details (who are having valid DIN) – Moment, I click the CHECK FORM OPTION, the details in Address Line1 is partly removed.

In view of this problem, filing of the form is not possible.

Anybody is facing this type of problem. Please do share your practical experience and solution, if any on the same. I am unable to understand, whether it is problem due to MCA malfunction or problem at my end.


Your reply, please..............

Thanks in advance for possible replies from all concerned.

How can we know the annual revenue for a private limited company? I tried accessing the public documents of a company on MCA website but could not get the details of the income statement for the private limited companies.

as per act a Board meeting can be held anywhere in the world, it means we can issue share certificates also at any place wherever the Board meeting is held( requirement of common seal being made optional) and also get the financial statements signed at a place outside India if majority of Directors are Foreigners?

Dear Sirs,
what is the procedure for extension of AGM??

Can i know the Text book with an author for the New Companies Amendment Act of 2013

Dear Sir,

Can company incorporated on 03.03.2015 file returns for the 13 months ending 31.03.2015 without any penalty ?

Regards
Pavan Kumar

Dear Sir,

As everybody is aware, new Form MGT-7 has been made available wef 25.09.2015 on MCA Site.
I have downloaded and tried to fill it for a private limited company covered under the definition of "Small Company" as defined u/s 2(85) of the Companies Act,2013. In our case:
1. the turnover of the company is Rs.30 Lakh and
2. The company is having Authorised Equity Share Capital of Rs.8,00,000 and Issued, Subscribed & Paid-up Capital of Rs.7,99,000. And the company is also having Authorised Preference Share Capital of Rs.2,00,000, however, no preference share has been issued at all and such Issued, Subscribed & Paid-up Preference Share Capital is Zero. Therefore, total paid-up capital is Rs.7,99,000 only.

Now I wish to draw attention on two problems in filling MGT-7 as under:

1. While filling details of Preference Share Capital details, the Form accepts figures of Authorised Capital but it does not accept 0 value in the boxes for Issued Capital, Subscribed Capital & Paid-up Capital. Instead it shows error message that the value to be filled must be less than 999,999,999 and greater than 0. How can we put value greater than 0 when there is no issued, subscribed & paid-up capital.

2. Proviso to U/s 92(1) of the Companies Act,2013 states that in case of One Person Company and Small Company, the Annual return will be signed by a company secreatary and if there is no company secretary, then by the director.
In our case, there is no company secretary, and whenever I use "Check form" function of the Form, it shows error message that "Membership Number of Company Secretary is not entered". I tried to fill 99999 or 00000 in the box of membership number of company secretary, then the "Check Form" function worked but on prescruitny, there appeared error message that " Membership Number of the Company Secretary is invalid".

So please help me as it is a universal problem of the Form MGT-7 for all small companies in whose case only the director is required to sign the Form MGT-7.

Thanks and regards

Raj
+91-9991016970

Can a private limited company take loan from another private company as per the Companies Act, 2013? Under which section will it fall?

4th September 2015

ABC Limited is a closely held public limited company with a paid-up capital of Rs.13.50 crores. There are no operations for the past a decade and no income is generated. The company is incurring only normal expenses. The comapny has suffered losses and the capital of the company is fully eroded. The Company has been promptly filing the required forms every year with ROC. The Company has filed its annual accounts and annual return with ROC upto 31st March 2014.

The Companies Act, 2013, which came into force from 01.04.2014 requires the company to mandatorily appoint Independent Directors, Managing Director, Company Secretary, Chief Financial Officer….etc. Various other rules / conditions has to be followed by the company in compliance with Cos. Act 2013.

In view of the difficulties in following the new Cos. Act and due to non-availability of funds, the board of directors thought it fit to close the company. Accordingly the company filed an application under Section 560 of the Companies Act, 1956, with Registrar of Companies, for striking the name of the Company from the REGISTER OF COMPANIES. The said application was submitted on 20th August 2015 and the same has been accepted and a notice has been issued by ROC for striking off the name.

Due to submission and acceptance of above said application the Company will not be preparing its annual audited accounts for year ended 31st March 2015. Both the audited accounts and annual return for year ended 31st March 2015 will not be filed with ROC.

My query in this connection is

The application under Section 560 was filed with ROC only on 20th August 2015, almost five months after closure of financial year. In view of the above, is by any chance will ROC question the timing of this application. Further will ROC ask why the company has not prepared and filed the annual accounts and annual return for year ended 31st March 2015.

Looking forward for the reply of the forum members

With regards

Muralidharan

Dear Friends / Experts,

Please guide me on the following, IF POSSIBLE:

I am in the process of preparing documents for company incorporation.

Query

Whether we need to mandatorily attach AFFIDAVIT for non-acceptance of deposits in Form INC-7 for a Private Limited Company, for which the proposed Paid-up Capital shall be Rs.1 Lac only or can we ignore it due to recent exemption by MCA.

Your reply, please..............

Thanks in advance for possible replies from all concerned.