Case - A private limited company with two directors. One of the directors is providing full time management and consultancy services to the company and he is not working in any other company. The designation is director only (not as MD or WTD). Whether he will get remuneration as Consultancy fee or salary (payroll) ?

Can a director be appointed in backdate. suppose from 12 Jan 2014 if din no. applied on 05 Sep 2014.

If a company is a joint venture of Japan & Indian citizens. What is the date of balance sheet to filed with ROC. Whether it is 31/03/YYYY (Indian Corporate Law) or it is 31/12/YYYY (Japanese Corporate Law)????

Dear All,

Greetings.

One of a public limited company (say A Ltd.) has received share application money from a private limited company (say B Pvt. Ltd.). Now, A Ltd.alloted its shares not in the name of B Pvt. Ltd. but in the name of 2 directors of B Pvt. Ltd. As we know, a public limited company must have minimum 7 shareholders, A Ltd. has also only 7 shareholders including the 2 shareholders i.e. the 2 directors of B Pvt. Ltd. Further, A Ltd. has taken huge amount of Interest free unsecured loan from B Pvt. Ltd.
My Query is:

1. Is this legally correct to allot shares in the name of the directors of the company. If not, what is the remedy available for this act?

2. How the unsecured loan be dealt with as per the provisions of New Companies Act, 2013?

Regards,
CA Milan Agrawal

I have recently joined a company which is named as 'XYZ Limited'. I joined it thinking of it as Public limited company. But when i went through the balance sheet of company i came to know it is pvt limited company. Can a private company operate without using the word 'pvt ltd' in its name..??

I have one query relating to the allotment of Right Issue of Private Limited Company:

1. Authorised Capital increased on 22.05.2014

2. Existing shareholders deposited Share Application money in Company Current account as follows

1. 1st Shareholder: Deposited cheque & cleared as on 20.05.2014 full payment

2. 2nd Shareholder Deposited money as follows:
- half application money as on 14.07.2014
-some part as on 12.08.2014
-remaining as on 22.08.2014

3. 3rd shareholder deposited money as on 14.08.2014 full payment.

So my question is how can i tackle this situation as all application money received on different date and what will be the date of allotment.
Queries:
1. Whether is it correct to show allotment in to two different date as per Application Money received by Company.
2. Whether is it correct to show only single allotment on 22.08.2014 but in that case share application money received from 1st shareholder passed 60 days criteria.

1) Section 12 of companies Act says - within 15 days of incorporation, the company must have a registered office. But before company incorporation at registration time itself one informs the address of registered office. Should one inform registrar again within 15 days of registration regarding company's registered office? IF yes, which form to use for reporting?


2) Section 12 of companies Act says - within 30 days of incorporation the company has to furnish to registrar verification of registered office. What is verification of registered office ? who does the verification? Which form to use for reporting regarding verification?

An Individual who is a Chartered Accountant by profession is appointed as a consultant to advise the company(Pvt Ltd) on financial matters. He is the relative of the Director of the said Company. Are provisions of Section 188 of the Act applicable?

IN A PRIVATE LIMITED COMPANY IF WE INCRESE PAID UP CAPITAL THEN PAS-3 WILL BE REQUIRED TO FILE??

Can anyone tell me that if we take note on appointment of KMPs in Board Meeting then we have to file MGT-14 only or MR-1 also.
its urgent pls