Hi,
we are three partners in a private limited company and three of us has equal shares.

all three of us are Full time directors.

Recently two of the directors given a termination notice to the third director fom the position of director.

but he volunteerly decided to go out from the company by selling his shares and asked us to settle his account with in three months.

for this initially we agreed, but since the financial position of the company is not good we asked six months time for his settlement.

for this he is not agreeing and thretining us that he will issue legal notice to the company and directors.

the company is started only one year ago and yet to make any profits. Practically the company has not even reached breakeven point.

he is putting pressure for immediate settlement because he already started another company on his own and sending mails to our existing clients to divert the business to his new company.

can any body please let us know what kind of legal implecations the company or the directors has to face?

will the court orders to close the company?

how can we defend his legal notices?

is their any ratio should be maintain between equity shares and preferential shares..? while making any further issue of preferance share....

Is the approval of Company Law Board or court required for change in object clause in case of private limited company???

Dear Expert

pls tell me what is procedure for increase share capital in pvt ltd?

and purpose for that?

Thanks

Can a Director of a private limited company can be appointed as a Company Secretary of the Same Company.(as well as public company)

Dear Sir

one of my client received the forighn investment to his savings account. because since that time the current account was not
opened to the pvt company.and he received the FIRC from the bank mentioning his name.

now we need to file the FCGPR to the RBI
the problem is the money came to savings account, but we need to file the FCGPR in the name of PVT LTD Company because the money is received for CAPITAL INVESTMENT From the FOREIGNER.

kindly guide us what steps to be taken. and the money came to the account to the bank in the month of Oct-2011.

A board resolution for a director to appear before the service tax authority against the demand raised by the service tax authority against company & company want to file an appeal to commissioner (appeal) against this order for stay application.

Dear ColleagueS

If a Director has tendered his resignation to Board and the Board doesnot accept his resignation nor file Form-32. In this situation what the Director who wants to quit has to do??

Please clarify. If any case laws available plz share.

Regards

Ssohan R Baggmar

I have a query, please if you can assist me on the same.


A person of Indian origin who is carrying a (PIO) card i.e Person of Indian
Origin Card and having a passport of USA can he became a shareholder of a
company who is dealing in real estate business in India?

Whether FEMA regulations would permit him in investing in real estate
business?

Can you please provide me a detail solution along with the notification which relates to the same?

Dear Sirs

In our comapny we have appointed managing director, chairman, executive director for 2 years only and after 2 two years we reappointed the same persons in the same designations. In form 32 only provision for intimating appointment, cessation & change in designation only.Whether we are required to intimate ROC regarding the retirement of directors & reappointment of the same persons in the same designations ? please advise me?