Is it necessary to make the disclosure of switching from WDV or Slm method to Schedule II.???

An Asset is purchased on 01.04.2010 and it is showing remaing life of 11 years as on 31.03.2015, which is correct as useful life is 15 years, but if i put purchase date as 30. 03. 2010 it shows the useful as 10 years, while according to me life should be 10.5 years not 10 years.It should not come down to 10 years just by changing the date from 1.4.2010 to 30.03.2010. Kindly clarify as I am having trouble in understanding it.
Thanking You in Anticipation.

24th September 2015

ABC Private Limited has invested in XYZ Limited and is holding 66.64% of it shares. In view of the above XYZ is a subsidiary of ABC. In accordance with Section 129 of the Companies Act, 2013, ABC Private Limited is required to prepare a consolidated financial statement (apart from its own financial statements).

However the subsidiary company (XYZ) has filed an application with the Office of the Registrar of Companies, Tamilnadu, Chennai, under Section 560 of the Companies Act, 1956, for striking off its name from the Register of Companies. The application submitted by the subsidiary has already been accepted by ROC and the process of striking off the name has been initiated. Due to this the subsidiary company has not prepared / drawn its financial statement for year ended 31st March 2015.

Due to non-availability of the accounts of the subsidiary it is not possible for ABC to prepare consolidated financial statement for year ended 31st March 2015.

I want to put a note in the Board Report as well as in the Notes on Accounts of the holding company mentioning the fact of the issue. I have prepared a note for this purpose. Kindly advise whether this note holds good or needs any change. I reproduce below the notes for your guidance.

The Company as on 31st March 2015 is holding 89,95,975 equity shares of Rs.10/- each representing 66.64% in the share capital of subsidiary company XYZ Limited. In compliance with Section 129(3) of the Companies Act, 2013, read with Rules made thereunder, the Company in addition to is own financial statements is required to prepare a consolidated financial statement of the Company and all of its subsidiaries in the manner specified under the Act and the said financial statements shall also be laid before the Annual General Meeting of the Company. The subsidiary company M/s.XYZ Limited has filed an application with the Office of the Registrar of Companies, Tamilnadu, Chennai, under Section 560 of the Companies Act, 1956, for striking off its name from the Register of Companies. The application submitted by the subsidiary has already been accepted by ROC and the process of striking off the name has been initiated. Accordingly the subsidiary company has not prepared / drawn its financial statements for the year ended 31st March 2015. In absence of financial statements of the subsidiary the Company is not in a position to prepare a consolidated financial statement.

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 can use SINGLE DOCUMENT ‘Driving Licence’ as Proof of Identity and Proof of Residence for the purpose of Form INC-7, as the Subscriber does not have any other document. However, the Subscriber is having valid DIN.

(For the subscribers having DIN, KYC norms would not be applicable as given in Form INC-29)

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

Thanks in advance for possible replies from all concerned.

Hi all,
Please suggest.
what are the important points to consider while deciding the types of company(pvt,llp,public Ltd) incorporation.

Dear experts , pl. tell me procedure for appoitment of CEO & CFO for a PRIVATE Company.

Which forms are required to be filed ?

Dear Sir/Ma'am,

Kindly send me the Procedure and and fees details for formation of NGO as per companies act,2013


Thanks in advance,

Lalitha.K

In MGT - 7, we are required to attach a list of shareholders/debenture holders as mandatory attachment for company having share capital. Should we prepare a list of shareholders with their name, address and personal details as attachment or are we required to prepare another MGT-7 in word/excel format and then attach it with the EFORM. Please advice.

A foreign company wants to appoint a indian company as a representative for promoting/marketing its products. Does Indian company have to take approval or register the agreement with RBI etc?

IF A COMPANY HAS TAKEN UNSECURED LOAN FROM THE RELATED PARTIES UNDER THE OLD ACT, CAN IT BE CONVERTED INTO SHARE CAPITAL NOW.

Hello Sir/Madam,
We have a Partnership firm In Hyderabad Incorporated under Partnership act, 1932. and this partnership firm managed by 2 partners. Due to some reasons The parents and one of the relative ( 3 Members) wants to join as partners in the firm. and earlier partners of the firm ( 2 sons) wants to quit from the firm.
In this scenario kindly let us know that how to handle this situation.
1. will it comes under sale of partnership firm? or kindly let us know the procedure for the taking of Partnership firm by parents.