In a private company there are 2 directors.
One Person was appointed as an additional director in 2018 and another was appointed as an additional director in 2020 but they were not regularised in the respective AGMs.
What should be done now ?

Hi All,

Can a company file its Balance Sheet for more than 12 months if its the last Balance sheet of the company?
What is the maximum duration of the Balance Sheet in case of winding up?

MSME1 form is used to report the Payment status to the Micro and small enterprise. It is specifically used to report payment status after 45 days to the above mentioned entities. My query is that whether the form is applicable for Micro, Small enterprises only or it covers Medium enterprises also?

I have filled FILLIP and it is asking for resubmission having remark
“Furnish PAN of DP’s not having DPIN”
I have already resubmitted the form once with self attested copies of PAN card of partners. Still it is showing the same remark. Please help as to what document is to be submitted. I hav already raised ticket with MCA but have not got any reply. Please suggest.

I am registered on web-2 portal as a professional with digital certificate based authentication.I was doing login on old portal using user id and dsc.
How to do login on Web-3 portal? Not able to create new user id also as system is telling that PAN & Membership No is already registered.

Hello,

I was filling the startup India form in which it asked me for an authorized representative of the company. I wanted to explain my company's hierarchy.

We are 4 co-founders who successfully formed a Pvt. ltd company having equal shares each in which 2 are the directors A&B and the remaining 2 are shareholders C&D and Director A is the authorized signatory for all the decisions related to business and finance.

The startup India form it is asking for the authorized representative of the entity. I am confused about whether the director can be an authorized representative or if I have to assign anyone from the shareholders?

kindly help me with this doubt.

Whether an outsider (not a former employee) (may or may not be a stakeholder) is covered under the Whistle Blower Mechanism under the Companies Act, 2013 ? If covered, whether he/she gets any protection just like the Directors and Employees of the company ?

in case of voluntary conversion, if opc is filing inc-6 with late fee (its late by 1 year),
the converted pvt ltd incorporate certificate will have resolution date or inc6 filing date?
my view--> i feel resolution date, right?

Dear Friends,
A small company has two directors who are also the promoters and the company has been paying a monthly remuneration of Rs 1.50 lacs to each since a long time.

From March 2020, the company has been facing a financial a cash flow crunch due to lockdown. The directors decided to a voluntarily reduction in their remuneration and draw a lower remuneration than 1.50 lacs.

In FY 2020-21 they drew full 1.5 lacs for first 5 months then half remuneration for rest of the year. In FY 2021-22 drew 40k each for 6 months and then full remuneration for rest of the year and for current FY 2022-23 they propose to draw 50% remuneration for 1st half and full remuneration for the next half year.

The auditor objects to this saying that you can't change the remuneration voluntarily as it will affect the TDS to be deducted from their salary. I personally disagree with the auditor as there is no restriction on payment of remuneration of Directors in a small Pvt. Company and that too when the directors want to help the company to manage the cash flow.

Please share your views :

1. Whether there is any problem in the voluntary reduction of salary by directors.

2. Can the company pass a single board resolution in the beginning of the each FY for a voluntary reduction in remuneration by the Directors without specifying the amount by specifying a reduction upto say 75% of their actual remuneration depending upon cash flow of the company .
Thanks & regards

PC Joshi

Will a director be disqualified if he/she attends all the meetings through virtual mode and is also going to attend the Board Meeting for adoption of Financial Statements, Boards Report and other papers through virtual mode only?