If a firm is availing cash credit from one bank (A) for meeting the working capital after proper guarantee etc, can the same firm also open just a current account only with another bank (B)

Is it legal?

Will it not lead to manipulation of credits/payment received/ due to one babk etc?

Can a firm open a cash credit account with one bank and the same firm open a current account with different bank.Is it legally allowed?
If so how will each of the banks know the financial position of the firm?

Will such situation not lead to manipulation of bills/payment received from clients

what is the procedure to register a proprietor firm engaged in general trading?

explain EGM U/S169

Hello,
This is Alok,
My queries are as follows :
01) There is one Pvt co. in which there where
2 directors out which one is died. What
procedures have to follow in this case.
02) Since after death of one director only
is alive and he wants to close the
company what is procedure to do so?
03) Whether this company can avail the
benefit of Fast Track Exit Mode Scheme
(AS this scheme is formed by MCA U/s 560
of the companies act)

Thank You in Advance

I am preparing statutory register 301 register of contract, I am very confused how to fill details like directorship in other companies:

So my question if A is director in 10 companies then all companies details should be entered or not?
When I see other register I saw that A is director in 10 companies, but only entry in register 301 is 5 companies why not all companies entries are there.


Please suggest and clearly deeply and how to get data for this.

surajsingh

my client has planning to take money from foreign investor to set up a new buisness in future. the same is received in currently in the pvt ltd company. the foreigner is just a investor i.e. sleeping partner.
my client has paid up necessary fees for registration of this transcation abou 1.25 lacs.

now my question is.

1. wether a pvt ltd comapny can take a loan from a foreign investor who is not a director, member or relative.

2. what procedure to be followed by the company to take amount from the investor.
3. what document to prepared .
4. which resolution to be passed.
5. can a company first issue the shares to investores and then take a loan is it possibel? because issuing share to him become a shareholder. and then we take money as a unsecured loan.

6. wether tds provision attrated to this.

pls reply as soon as possibel because it is urgent.

thanx in advane.

Respected sir,

please tell me in private company under section 297 procedure? and which details are collected regarding to section 297?

Provision regarding Loan from Directors in company law?

I am an NRI and would like to open a company,alongwith resident Indian,that can do trading/sale purchase in shares, mutualfunds, immovable property etc. in India.

How shall I proceed and what procedures I have to follow?