On applying for converstion from a public company to a private company,cofirmation of substantial creditors is required.What is the meanibg of substantial creditors ?

On conversion,can a private company continue to have a public company as its subsidiary ?

Hi,

Company A is holding Listed company. Company B, Public unlisted co., is subsidiary of Company A.
Company C Public unlisted co., is subsidiary of Company B.
Now, Company C has acquired 99% of shares of Company X, Private Limited.

Trust by virtue of step down subsidiary, Company X has become ultimate subsidiary of Company A, WHICH IS Public co.,

The query is
Should Company X (Pvt) now comply with the provisions of Public Company.
In such case should it increase the number of directors and members.
What other compliances need to be followed.
Pl clarify

Which compnay has to compulsorily appoint a full-time company secretary. Can a compnay having a paid up capital of Rs. 5 Crore opt to get Complince Certificate from a practicising CS or appoint him on retainership basis instead of appointing a whole time CS.

A private company all share holders (Husband and wife) subscribed Rs. 3 Crores at the time of registration of the company which was registration on Dec 2007. In the object clause it was written that the company will take over the business of Husband. But till to date all the business is not taken over. Now my question is whether the two shareholders have to bring Rs. 3 Crores in cash, which is really impracticable. Is there any other procedure to solve this problem?

We are not getting provident account slips from couple of years, despite of all payments and returns in time, we have visited numerous times to PF office and submitted every bit of document copy they needed but they dont bother to send the slips.

We have decided to go against the commissioner under RTI act,

is there any other way to get the account slips?

Dear Sir,
I want to clarify some doubts regarding Company Incorporation,
1.Is Pvt Ltd can carry on a Chit/Benefit Fund Business?
2.If Yes. What are the procedure ?Should I follow Any special compliance?
3.Is it allowable under the companies act that a Pvt Chit fund Company may accept the Subscription or any other amount from the public?

if 3 persons incorporating a pvt company with authorised capital of 10 lakhs, then how much time they can expect for full proceedure of incorporation ie. apply for DIN to incorporation.



how much amount of expense can be expect as fees to CA & advocates for doing above proceedure.

What will be the consequences if I have not prepared books of Accounts in the 1st year of incorporation and how the 1st AGM shall be conducted? Please mention the solution also to avoid penalties?



Thanks in Advance

A CO HAS PROVIDED IN ITS ARTICLE THAT AUTHORISED CAPITAL IS DIVIDED IN THREE PARTS REPRESENTED AS 'A' , 'B' AND 'C'. IT FURTHER PROVIDE THAT HOLDER OF 'A' CAPITAL WILL APPOINT TWO DIRECTOR AND SAME WAY HOLDER OF 'B' AND 'C ' CAPITAL WILL ALSO APPOINT TWO DIRECTOR EACH. IT FURTHER PROVIDE THAT IN A BOARD MEETING A RESOLUTION CAN BE PASSED WITH MAJORITY SUBJECT TO ONE AFFIRMATIVE VOTE OF EACH 'A' , 'B' AND 'C' DIRECTOR.

IF SUCH TYPE OF CLAUSES ARE VALID AND MEET THE REQUIREMENT OF COMPANIES ACT .

In a Company Two brothers are part time director and does not get any remuneration from the company .Company wants to appoint one director as advisor for a particular project and want to give 75000 P.M. advising fees .Whether this Case will be covered in section 314(1B).