Hi, could anyone help explain the process for the following:

Fact: A private limited company having two promoters cum director; having 50%/50% equity shares.

One of the promoter cum director wish to resign form the company.

My questions are:
1. Can a new individual person be appointed as promoter cum director of the above said company? DIR12 has an option "Promoter" in appointment section, could that mean it is possible?

2. Can a new individual person be appointed as director without any expiry/retirement of position as director?

Please advise!

Thanks

Hello dear experts... one of a company is incorporated under Company Act 1956 now want to increase its auth. capital and Paidup capital before march'2020. Now my quarry is : -

1. whether it is compulsory to adopt new moa & aoa under Company Act 2013 and file MGT-14 from back date i.e. before march'2020.
2. Can we directly filled Sh-7 without filing of MGT-14 from back date i.e. before March'2020.

please help me out regarding the whole process legally.

companies act including Accounting Standard are applicable on private limited concern. I am unable to find out how to calculate (per centage of debtors etc) allowance (provision) for bad and doubted debts according to companies act including Accounting Standard.

Sir,
A provisional statement was signed by auditor showing gst liability 12 lakh but actually the gst liability was 2 lakh.. And they paid the amount 2 lakh. But while finalising the accounts the actual gst liability to be show as 2 lakh but auditor is not willing to finalise the same with 2 lakh. The difference in gst liability risen was due to the gst rate.. What to do with the same.

Hi,

I am going to incorporate my new Pune based private limited company.
I am having a hard time on a query I have.
So the query is:

Can I use GROUP in my company name, for example, ABC Group Pvt Ltd.?

Please guide.

Hii

Can Anyone provide me the Main Objects for a Facility Management Services?
Kindly email at sonamchawlacs@gmail.com

Thanks and Regards.

Thanks in Advance

We have Private Ltd co. paid up capital of Rs. 1L Face Value 100 each share and want to issue share to its Promoter / Director with the proportionately .
My Query is 1) Can we issue shares at Face Value ? ( Note - Now the Book Value of Share is in Thousand & Co. age is around 15 year Old ).
How we issue New share to its members and what are the procedure to execute this process.

Thanks

Please can any one provide me Main Object clause related to the business of Wellness gym and spa

I wish to resign 1 director and appoint other director in the same company.

Can someone share the steps and documents for the same.

Thank you

Dear All,

A Public Ltd company having an exposure of 100+ Crs Bank loan exposure, has about 35 crs unsecured loans from Directors. As per the sanction terms, Banks has restricted repayment of Unsecured Loans during the currency of the Term Loan.

The company has opened a current account (Joint) in the names of two directors and one employee with a bank which is outside the consortium (without the knowledge of Bankers) and started depositing daily cash collections into that account and made repayment of Unsecured Loans to a tune of 5+Crs. Incidentally it was founds that the company is also not paying EMI since March 2020 and thereafter as the moratorium is extended.

Is the above act legally valid? Do banks have any recourse to the above stated facts? Can this act be construed as Diversion or Embezzlement of funds?