Company's Authorised capital is Rs. 20 Lakhs and Share Application money is Rs. 35 Lakhs it is possible according to laws of Statutory bodies.

Dear all,
we had paid stamp duty on share certificates till 2011 as per haryana rates though our reg. office is in delhi.now we are paying stamp duty as per delhi rates because of collector rules, but authority is asking for our previous records.
now can anyone tell me if we had our board meeting in gurgaon in which we issued share certificates so can we pay the duty as per gurgaon rates? and what is the penalty?is there any way to get rid of from this?

According to part IV of Old Schedule VI, Abstract is a part of Balance Sheet, What about it in Revised Schedule VI. If it is required in new format please provide the format of Abstract.
Regards!

A private company hired an experienced person for using his experience in the operations of company and wants to give him the designation "Director-Operations". this designation will be printed on his visiting card and on every future correspondence he would made on behalf of company.

Can company do so without legal formalities of Companies Act?

There is a pvt. ltd. co. There are 4 members & a ll 4 are also are the Directors of the co. Now out of his 4, 2 members want leave this company.Means they are not interested to carry on.. So what they can do?

I think first of all they have to give resign from the directorship & then they have to transfer their shares to remaining members. my thinking is right?

i had applied for the name of approval "INTENSIVE GROWTH PRIVATE LIMITD" SRN-B56512452 on 30/08/2012

when i checked the transaction status today 06/09/2012 it is showing as required resubmission due to the following.

" general name w.r.t. clause no. 9(iv) of the guidlines Form should be resubmitted by 06/10/2012 failing which the eForm shall be treated as invalid and shall not be taken on record. (Please refer Regulation 17 of the Companies Regulation, 1956)"

My question:

1. do i have to upload the same form as it is ?
2. do i have to pay the fees again ?
3. if suppose i want to apply for different name for e.g. EXTENSIVE GROWTH PVT LTD. can i do so by changing the name in the same form ?

waiting for your reply urgently ?

First of all I am thankful to all expers for their timely and kind professional support from time to time. Now I have one query as per details as under:

A private limited company had received a sum of Rs.40 lakh during the last 3 years which is appearing under the head "Unsecured Loans from directors & their relatives" as on 31.03.2011. The authorised and issued equity share capital of the company as on 31.03.2011 is Rs.10 lakh.
Now during the F.Y. 2011-12, the company wants to transfer Rs.30 lakh from Unsecured Loans to " Share Application Money" and thus wants to show " Rs.10 lakh under Unsecured Loans" and " Rs.30 lakh under Share Application Money".
I want to know whether the company can do this treatment?
If yes,then the authorised capital of the company is less (Rs.10 Lakh) than the amount of proposed Share Application Money (Rs.30 Lakh). Can the company receive share application money inspite of the fact that it has not sufficient Authorised Capital before receipt of such share Application money?
If, hoever, the above treatment is follwed, what will be the conequences under the Companies Act i.e. any fine or penlaty or any other adverse action can be taken by ROC because as pe new format of Schedule-VI, "Share Application Money pending alotment" will appear on the face of Balance Sheet.
Please reply ASAP.

Thanks and regards

Dear experts,

We want to schedule a board meeting this month for adoption of accounts, but all of our directors are traveling.

1.Can we hold the meeting for account adoption through video conferencing?

2. If yes how will they sing the accounts?

Company A received a share application money in 2008-09 of Rs. 500 Lacs. the same stand in the balance as on 31.03.2012.

Company still not allocated the shares to the shapre applicants.
What is the statutory time frame to allotement of shares. and whats the panalty on the same.

Reply urgnent

Dear Members..

In case of Public Company, if paid up capital is increased upto 5 crores or more, then appointment of Managing Director and Company Secretary is mandatory...

What is the time period within abovesaid appointment required to be made???