Would directors remuneration in a section 25 company come under provisions of companies act or are there any restrictions on them drawing salary like that in case of Trustees??

Are Directors is a Section 25 Company freely allowed to draw salary??

It would be appreciated if those answering may also provide answer with relevant rules and regulation in this regard

Thanks in Advance

Please reply as soon as possible.
Dear All,
1- If, in Private company the number of director is less than the two, what is the penalty and default on that situation?

2- If, in Public company the number of member is less than Seven, than what is penalty and default on that situation?

please reply with section...

(can any default or penalty as per the companies act in above two situation)

Can a Charitable/ religious Trust be a company?
also tell relevant section /provision for the same.

I have an NGO.
I want to do financing through tht NGO. I mean giving loan to people at low interest rate under my NGO. Is it possible?
Thanks
Swastik

I am M.Com, LL.B. Now in Govt. service. Interested to pursue a recognised course in Corporate Law - six months/ one year duration through distance learning. Pl. suggest important recognised institutes/universities. Thanks & regards.

will the sanction to the companies bill 2012 by the parliament have an effect of repealing/ rendering the Companies Act 1956 non-applicable ??

Dear All,

We have incorporated an IT Co. (Pvt. Ltd.)
and now we want to issue shares to the subscribers.
my query is, what is the general practice of professional CA, CS in this respect?
do we need to get printed share certificate book (name of Co., regd address, and all matters etc.)and then issue shares filling up details like name, no. of shares etc. with pen and then issue or we shall print entire share certificate at the time of issue and no need of share certificate book.?
i have seen people print share certificates on card sheets as per requirements in their offices, so what is correct method?
in our Co. there are only 2 Directors, so to whom we can appoint authorised signatory? or only 2 signs are sufficient?

kindly help in this regards.
thanks in advance

Is it must that the accounts should be authenticated by MD or two directors shall suffice.What in case MD is out of country

Dear Experts,

Kind Attn : Mr. Ankur Garg

I see many companies offering attractive returns on moneys collected by them (they say that the money invested will double in 5 years to be exact).

One such company's representatives persuaded me to make an investment decision and hence i did some due diligence work on the Company on the MCA -21 portal.

I was shocked to find that in the Auditors Report, the Auditor has stated that the Company has not accepted any deposits under section 58A of the Companies Act, 1956 ( I personally know some people who have been investing in that company for about 3 years as a Recurring Deposit of Rs 1000 per month).

On scrutiny of all the available data of the Company in the MCA -21 site, I found that the Company in its financial statements, never expressed its intention to accept public deposits.

Further the reason why the Company became popular among the people was that the commission it offered to one who collected the deposit.

Now let me ask you one thing, what is the fate of those who invested in the Company ?

Is there any competent authority to whom an official complaint can be lodged so as to protect the investors interest before it becomes a case of embezzlement of public money ?

Dear Experts,

Kind Attn : Mr. Ankur Garg

I see many companies offering attractive returns on moneys collected by them (they say that the money invested will double in 5 years to be exact).

One such company's representatives persuaded me to make an investment decision and hence i did some due diligence work on the Company on the MCA -21 portal.

I was shocked to find that in the Auditors Report, the Auditor has stated that the Company has not accepted any deposits under section 58A of the Companies Act, 1956 ( I personally know some people who have been investing in that company for about 3 years as a Recurring Deposit of Rs 1000 per month).

On scrutiny of all the available data of the Company in the MCA -21 site, I found that the Company in its financial statements, never expressed its intention to accept public deposits.

Further the reason why the Company became popular among the people was that the commission it offered to one who collected the deposit.

Now let me ask you one thing, what is the fate of those who invested in the Company ?

Is there any competent authority to whom an official complaint can be lodged so as to protect the investors interest before it becomes a case of embezzlement of public money ?