A Govt. Company has provided some movable Items worth Rs.3,00,000/- to each of its Directors.

Directors wants to pass a resolution in Board Meeting that the itmes be allowed to retained well below the Book Value i.e. at abnormally high Depreciation where as rate of depreciation on itmes is only 15 per cent under IT Act.

Can they pass such resolution when all stands to gain by the resolution and hence quorum shall not be there.

Kindly advise

Dear Friends,
A Pvt. Ltd. Company has at present to shareholders both are Indian.
The company wants allot fresh shares 10000 equity shares of 10 each to Indian promoters at par and at a premium of Rs240/- to a foreign party. Can the company allot shares in this manner.

what are the FEMA compliances w .r.t. allotment of shares to foreigner.

Pl respond ASAP

Thanks

P.C. Joshi

Kindly let me know in relation to the Unlisted Company (Preferential Allotment) amendment rules, 2011, the time limit of 60 days for preferential allotment will start from the date of offer for preferential allotment by the Company or from the date recieving of the share application money recieved from the shareholders?

Please reply.

The facts of the case is as under:

Form 8 for Rs. 500 lacs is filed once. However, due to some problem, at the time of online filing; the payment was made twice. Due to which two separate charges were created.

In view of the above, we have requested for cancellation of one charge and refund of ROC fees. However, the same got rejected.

Subsequently, additional sanction of Rs. 450 lacs was made. In view of the same, the overall charge of Rs. 950 lacs should appear in stead of two separate charges of Rs. 500 lacs each.

Please clarify what can be done now to effect the above factual charge of Rs. 950 lacs in stead of Rs. 1,000 lacs as appearing on MCA at present.

Pls suggest what can be done?

Txs In Advance!

Sir
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Dear All,

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