Can we declare dividend out of current year profit, without any ceiling/limit nor any transfer to reserve account.

A LLP consisting of two partners (A & B) with capital contribution of Rs. 1 Lakh each. Now partner 'A' wants to resign from the LLP.However the partner 'B'wants to continue the LLP business.

Whether the permission of partner "A" is required for continuing the business and admission of new partner?

Partner 'B' wants to have all the profits of the LLP after retirement of partner 'A'. Whether he can do so?

Is new partner can be admitted without giving share in the profits but with capital contribution of Rs. 1 Lac?

Hi All
Is there any rule prohibiting appointment of relatives as directors in an unlisted public company ( Being All directors appointed from one family only)?

Dear Sir,

As due to change in service tax rule we want to appoint the MD/WTD as employee of the company as per company law before it they are working in the professional capacity now.

What are the procedures to appoint as employees of the co. as per prevailing laws in India.

HOW TO CHANGE THE STATUS OF "DORMANT COMPANY" TO AN "ACTIVE" ONE?

From the new Companies Bill, which may be already passed by now, Chapter VIII has the following provision:

• Instead of transferring a fixed % of profits to reserve before declaring dividend every year , company can on their discretion transfer such % of profit to the reserve before declaring dividend as it deem necessary and moreover such transfer is also not mandatory.

My question is: Does this mean, that the existing section 205 of the Companies Act, which states that the entire profit of the company cannot be declared as dividend, is modified and now the position in law is “Entire profit of company can be distributed as dividend”..?

Kindly clarify

Respected Experts,

When all existing directors wish to form a new private limited company,den is it required to attach a declaration or consent letter with Form-32?? All directors have deir DIN..pls Guide..As per my experience, when a company has already formed & a new director want to enter in thata company, den we need to attach declaration/ Consent letter, when the company is not formed den y 2 attach consent letter? one of our cs insisting 4 d same..pls correct me if i am wrong.

What would be the consequences if private company has taken unsecured loan from the person who are neither directors of the company nor their relative? What penalty can ROC maximum charge? What is the way to come out from the penalty?

Dear Members.

Application for allotment of Designated Partner Identification Number since there was a Form7, but at present there is no same form in LLP website for applying DPIN now how can i apply for DPIN, can i go head with DIN1 as like company, kindly advise me.

Views solicited

Regards
Girish

Dear Members.

could anyone send me the subscriber sheet for LLP and consent letter for acting as a partner in LLP, i will be incorporating LLP very soon and also confirm me is it same as company or else if not kindly provide me the same at the earliest i will be in under confusion.

look forward best.

THANKS IN ADVANCE

Regards
Girish