Can A Private Limited Co. make a partnership with his director or individual., if yes then in what situation.

Hi ,

Can any one share the format of the NOC incase of the Registered Office is owned by the Director for a New Company Incorporation.

Also please clarify if NOC has to be stamped and notrized or it can be taken in plain sheet.
Many Thanks in advance....

ISSUE : There are two directors in a company holding 51% & 49% shares respectively (only directors are the members). now they want to appoint one more director. For appointing one more director they are forming a quorum, but 49% holder is not willing to attend the quorum, whether 51% holder can form a quorum and can appoint a director or not?

Please resolve me this issue

Dear Experts,

can anyone explain the section 180(1) as I am bit confused not able to understand.

the basic query is that if a company want to sell, lease, or otherwise dispose of the whole or substantially the whole of the undertaking of the company by passing a special resolution in the general meeting of the company if i'll go with this it is kind of demerger so still the company need to go with high court route or special resolution is enough for the proceedings.

kindly guide

if in final accounts a company's one location is a debtor and other location is supplier can we merge to accounts as per company's act?

Respected CCI Members,

We had incorporated a private limited company on 07/10/2014. We have not obtained the Commencement Certificate

As per the Companies Amendment Act, 2015 Sec 11 of Co. Act 2013 which relates to obtaining Commencement Certificate has been omitted. what will be the position of the Company which we have incorporated ??

Thanks.

A loan has been given by a pvt. co. to another pvt. co. in whom a person is director in both companies & its repayment made within F/Y year & its not in ordinary course of business. However "No company shall, directly or indirectly, advance any loan, including any loan represented by a book debt, to any of its directors or to any other person in whom the director is interested." Please tell me contravention if any & whether repayment removes the contravention?? Also tell me what can a company do to protect himself?
If advance is shown as given for flat and later returned as deal could not mature, whether this adjustment is correct or not?
Please clarify....

Read more at: https://www.caclubindia.com/experts/modify_message.asp?entry_id=971465

what is the procedure of conversion of llp into proprietership

Hello every one i have 2 interesting queries, i would like to know your views on them.

1. As per company act(accounts) amendment any part of rules will not be applicable to company having foreign subsidiary abroad for financial year on or after 1st April 2014.
So question is all unlisted companies will get full exemption from consolidation even if single subsidiary is outside, because if we do plain reading of the section this is what is interpretation or only foreign subsidiary is excluded.
I feel full exemption will be there.

2. Further what will happen if company is subsidiary as per company act but not as per as 21, because because paid up capital includes convertible preference shares there can be situation company holds 60% of (equity + convertible preference shares) but only 10% of equity shares. so whether consolidation will be required or not,
i feel it is not required because it will become absurd.

if asset have expire all usefull -95 % w/off by dep ,how can written of whole amt of asset resi value 5 %
if no any realise value what is acct treat mate of 5 % resi value of fixed asset as per company act 2013