Hi Members,

Private Company proposes to give loan to Public Company.

However, loan will be secured by creating charge on assets of the Company.

My query is private company becoming a charge holder is not a problem or is it like only bank and nbfc can be a charge holder.

Regards,

Company wants to close the Non Operative account the account was opened 15 years back, the director who was authorized to operate the said account is no more, now the bank is asking a resolution in which we have authorized any other person on behalf of that died director as an authorised signatory...can anyone provide me such resolution

A Private limited is a wholly owned subsidiary of B Ltd. Paid up share capital of A Private Limited comprises of 50,000 equity shares of Rs.10/- each fully paid up. Out of the 50,000 equity shares, 49,994 shares are held by B Ltd. and one share each is held by six nominees of B Ltd. to comply with the provisions of Section 12 of the Companies Act, 1956.

Now, B Ltd. had infused 50 Crs. by way of share application money towards equity shares of A Pvt. Ltd. which is pending allotment till date. A Pvt. Ltd. intends to allot shares against the share application money pending allotment. Whether this will be treated as Preferential allotment under Section 81(1A) of the Companies Act, 1956 and it has to comly with the provisions of said section and Unlisted Public Companies (Preferential Allotment) Rules, 2003 as amended till date?

Thanks

Hi!

What will be the status of a Private Company which is a subsidiary of a Public Limited Company under the Companies Act, 1956? Whether it will be treated as a Public Limited Company and will have to comply with all the provisions of Companies Act, 1956 are as applicable to a Public Limited Company?

In my opinion, the definition of the term Public Limited Company provided under the Companies Act, 1956 was amended vide Companies (Amendment) Act, 2000 to include a Private Limited Company which is a subsidiary of a Public Company. Hence a Private Company which is a subsidiary of Public Limited Company will be treated at par with Public Limited Company and accordingly will have to comply with all the provisions applicable to Public Company under Companies Act, 1956.

This is my opinion and request you to throw some light on the matter.

Thanks

Dear Friends,

Shares of A pvt. Company were transferred from Resident shareholders to a NRI entity(Singapore based co.)to the extent of 98% of total holding.Form FCTRS was filed with AD. Is there any statutory requirement under FEMA Regulation to get approval/confirmation of the said transaction. the Indian compnay has been advised by its legal consulatants that RBI approval is must. But as per my knowledge, FORM FCTRS is to be submitted to AD which will issue the requisite certifcate.

Can anyone throw some light on it.

Thanks

P.C> Joshi

There are 3 director's in company (Co. is Pvt Ltd). They given loan to company on equal proportionate.
Director's are the promoter of the company.
They want to convert the loan amount to paid up share capital.

Can this is possible.If there, then tell me the procedure.

The major transaction of loan is through bank only.

Kindly guide me.

XYZ Pvt Ltd issue and allot shares to two persons at par value on a particular date and at premium value to the third party in another date and file the respective ROC forms is it possible. and what are the section related to it.

What will be the procedure of merge of a partnership and a Existing Pvt Ltd Co.Please tell me ...

WHAT IS THE CONSEQUENCES OF NOT FILING FORM 23B IN TIME?

SAMPLE:
WHAT IF THAT A PRIVATE LTD. COMPANY HAS APPOINTED AN AUDITOR OTHER THAN RETIRING AUDITOR AND THE COMPANY HAS RIGHTLY COMPLIED ITS PART OF LAW BUT AFTER APPOINTMENT THE AUDITOR HAS NOT FILED THE FORM 23B WHICH HAS TO BE FILED WITHIN 30 DAYS from the receipt of Intimation of his appointment from the Company. THE CASE IS OF F.Y. 2010-11. AND WHETHER THE AUDITOR CAN NOW FILE THE FORM 23B.

if the company receives a letter from a shareholder regarding a payment of unpaid dividend then what should the company do as the company have already transferred the amount to an unpaid dividend account , how should we approach to these or need to contact the bank where it is deposited., please reply, its urgent