Can an Executive Director be a consultant of the same Company and can we pay him consultancy fees on monthly basis?

In a Private Limited Company A & B are 50% each Share holder. Now A & B want to transfer shares to Mr. C .
From A 10% shares and B 10% shares transfer to C for some consideration.

What are the Procedure to transfer shares from A & B to C.

Dear all,
Is an Indian director is compulsory for starting a company or can start a company with all non-resident directors??
Answers please..............

HEY!!!

I JUST READ SECTION 144 OF COMPANY ACT 2013. IT SAYS..

An auditor appointed under this Act shall provide to the company only such
other services as are approved by the Board of Directors or the audit committee, as the case
may be, but which shall not include any of the following services (whether such services are
rendered directly or indirectly to the company or its holding company or subsidiary company,
namely:—
(a) accounting and book keeping services;
(b) internal audit;
(c) design and implementation of any financial information system;
(d) actuarial services;
(e) investment advisory services;
(f) investment banking services;
(g) rendering of outsourced financial services;
(h) management services; and
(i) any other kind of services as may be prescribed


I JUST WANT THE KNOW WHAT DOES THE WORD "THE COMPANY" MEANS .. DOES IT MEANS ALL COMPANIES OR ELSE DEFINED SOMEWHERE ???

how to apply din for new pvt. Ltd minimum capital (authorized capital)1 lakh and what are the further steps for formation with fees nature IT company WITH TWO DIRECTORS

Hi,

After the completion of 7 years the unclaimed/unpaid amount of application money received by the Company is required to be transferred to IEPF account.
In the Rules and FAQ given on http://www.iepf.gov.in/ it is mentioned that the said amount is to be deposited in specified branch of Punjab National Bank. I am unable to trace the branch details and other procedures required for the above said transfer.

Secondly Company completed its 7 years timeframe this year, Do I need to upload form 5INV this time also?

My query is ...

if any unincorporated association naming say ABC association carry on business,Now that association wants to convert itself to company from association/ registered itself as company .
so after registration,association becomes company or company and association is seperate from each other ? In short now they (ABC association)called association or a company ?

Pls clarify whether Agenda is to be prepared for board meetings only or general meetings as well ?

i beleive agenda is not there as expl statement serves the purpose in gen meetings?

Pls clarify..

Thanks in adv

As per Section 180(1)(c) of the new Companies Act, 2013, every Company should pass special resolution in general meeting if the Borrowings exceed the paid up capital and free reserves.
Similar provision is there in Sec. 293(1)(d) of the old Companies Act, 1956 but now extended to all companies and special resolution is required instead of ordinary earlier.

Now the query is, here Borrowings refer to the Sanctioned limit or the Loan outstanding?

For instance, the paid up capital & free reserves sum up to Rs.350 crores.

The Company has already obtained long term loan of 200 crores from a Bank repayable in 5 years of which, the current outstanding is Rs.125 crores (75 crores already repaid).

Now, the Company proposes to avail another long term loan of Rs.200 crores.

Is the approval of Shareholders' required in this case?

Hello everyone,

i am filing annual accounts and annual returns of a pvt ltd company engaged in advertising business ( ad agency).

In form 23aca it is compulosry to menion the Details of principal products/servies and (ITC/NPCS 4 digit code)

I read the instruction and got the list from mca site but it is not 4 digit code but 5 digit code (99836) and further subcategory )998361/998362 etc are there.

My question :
how to write the 4 digit code and file the form ACA ?

waiting for the views of the experts.