A partnership firm cannot become a member in a company.It can be a member in a sec 25 company?? Wat is objective behind this ???

Is there any limit for the remuneration of directors of a pvt co.? I am the director of a pvt ltd co. The Co.s profit before my remuneration is Rs.5,00,000/-. I demanded a remuneration package of Rs.6,00,000/-p.a. But my legal solicitor rejected it saying that my remuneration will lead to a loss picture not acceptable by IT Act and also that a ceiling has been fixed by the Co.s Act. I also came to know from my friends that this limit is not applicable for a pvt ltd co. Can anyone clarify me that whether i could draw excess remuneration than the profits? Whether this will be accepted by IT authorities and MCA authorities?

A public limited company want to have a new company as Subsidiary. What all exemptions & benefits the parent earn by having a subsidiary. If no benefit of a subsidiary then will it be legally beneficial to set up a new company with same MD & Directors?

1.whether full time employee of XYZ Co.is eligible to become director of ABC Pvt.Ltd.Company?

2.If yes can he become Executive director?

3.Any restrictions for being director of Pvt.Ltd.Company.

4.Whether out of two directors at least one should be Executive director?

Dear Sirs,

A Pvt. Ltd. was incorporated on 13.01.2010. Each of the two subscribers signed for 10,000 Eq. Sh. of Rs. 10/- each. Each paid Rs. 50,000/- in cash. The balance is yet to paid. Can the subscribers take the balance shares after 31.03.2010 and file ROC Docs. for the period 13.01.10 to 31.03.10 with Rs. 1 Lac paid up capital ? If no, kindly mention the section for reference.

I was informed that FORM 2 is not reqd. for subscriber allotment. Pls confirm the section which exempts such allotment.

Pls reply.

Best Regards
G. Sharma

Hi All,

My query is regarding the Nominee directors appointed by the wholly owned subsidiaries of Financial Institutions, where the wholly owned subsidiaries are incorporated under the provisions of Companies Act, 1956.

Whether such directors will be governed according to the provisions of Companies Act or whether the Agreement with which they have been appointed supersede all other acts and provisions.

If the answer is in Negative, then please do tell me how can these companies override the provisions of Companies Act while functioning under it.

if company declares dividend on 7/09/2010 for the year ending 2009-10...agm date is 29/09/2010. and record date is 22/09/2010 but in between the record date and 31/03/2010,the paid up capital of the company is increased,then company pay the dividend on the paid up capital which is on the record date or on the paid up capital which is on 31/03/2010.....what we consider and whats the reason behind dat....

want to know the detailed procedure for the above? I read the procedure. i HAVE QUERIES
1)
after passing the SPECIAL resolution within how much time we need to file a petition to CLB.
2)THEN BY WHAT TIME TO GIVE A ADVT IN REGIONAL AND IN ENGLISH LANGUAGE.
3) WHEN TO FILE FORM 23
4)HOW MUCH TIME IT USUALLY TAKES TO GET THIS DONE, IF ALL THINGS GO RITE.

THERE IS NO ONE TO GUIDE ME. PLS ELABORATE THESE POINTS IN DETAIL. i NEED EXPERT ADVICE.

In case of a Private Company which is a subsidiary of a Public Company, a person was appointed in the General Meeting of the Company as a Director of the Company libale to retire by rotation. Now, the Company has ceased to be a subisidiary of a Public Company and has regained the status of an Independent Private Company. So, whether the Director appointed to retire by rotation is liable to retire by rotation at the AGM of the Company?

In case of an appointment of a Director at the GM of the Company, is it neccesary to mention in the resolution that he is appointed as Director of the Company liable to reire by rotation???? If this is not mentioned, is there any violation of any section of the Companies Act, 1956?????

God Bless

Udit Sharma

Our company is a public company (State Government Undertaking). There are total 11 directors on our board out of which 10 are Nominee Directors. To the best of my knowledge provisions of retire by rotation is not applicable on Nominee Directors.

My question is that, how many directors are liable to retire by rotation at each AGM.