Dear All,

Through MCA Notification dated December 14, 2011 Ministry of Corporate Affairs has amended the Unlisted Public Companies (Preferential Allotment) Rules, 2003.

According to which now shares has to allot within 60 days from the date of receipt of share application money.

Now in case of FDI, as per FEMA & RBI provisions, shares allotment has to be done with in 180 days from the date of receipt.

Please advice what need to be done in case of FDI in present situation.

IS filing of Form 23 Mandatory if i wish to increase the authorised capital of a pvt. ltd. Co. The AOA says " The Authorised Share Capital shall be as per the Clause V of the Memorandum of Asociation" So would it now be mandatory for me to alter AOA and also file Form 23??

Dear Sir,
A Company named ‘Y’ has a wholly owned subsidiary private limited company in addition to other Companies in the group.
‘X’ is a managing partner of a Law firm and his firm provides legal services to the Company ‘Y’ and its other group Companies for about 2 years now and would continue to do so in the years to come. For this, Company ‘Y’ and its other group Companies makes payment to the Law Firm by cheque.

Now, this is regarding the appointment of ‘X’ as an independent non-executive director in the Board of the Company ‘Y’.

Now, does this attract sec- 297 of the Companies Act, 1956? Do we have to take approval of Central Govt.? Please give a detailed picture.
Request all the experts to provide their valuable opinion?

Regards
Arijit

Hi all

Last application in a pvt. company was received on 25/12/2010 and the allotment was made on 20/12/2010 by mistake, can we revise this FORM 2 of file an addendum.

experts are requested to advise.

We submitted FORM 1A for change of Name. ROC send back the same for Re-submission since the name which we mentioned in Form-1A is similar to one existing company name.

So we want to opt for another name which is not mentioned in current Form-1A, what is the proceedure for same.

Is it enough to resubmit the present Form-1A with another board Resolution before expiry of the same

I wanted to know the procedure for removal of the auditor of a private company.

The Auditor was appointed and latter the company wanted to remove him during the term of his office.

What will be the procedure for this removal and is the provisions of taking prior approval of central Govt.applies in this case

Our client has formed LLP and two directors has obtained DPIN No. But as per amendment now DPIN alloted to director is converted into DIN no.But our partner of LLP is also director in other company and he has already obtained DIN there.so director has two DIN.please give me suggestion what i have to do for cancellation of DIN alloted by LLP by conversion of DPIN into DIN? And also what is procedure to intomate to the LLP about Changes in DIN no?

a pvt. limited co. is incorporated wid 3 subscribers to memorandum. Now if it wants to issue share certificate to each of the 3 in physical form please tell me that whether stamp duty needs to be paid on the same. cos. regs. office is in haryana and if it needs to be paid how it can be paid. Also stamp duty on form 1,moa and aoa have been paid electronically earlier

A company ABC pvt. ltd. has incorporated its foreign subsidiary company & has made investement in it by passing board resolution by circulation. Majority of directors has assented the same and investment has been made.One of the director who has dissented is now objecting that the above resolution should be passed at actual Board Meeting as required as per section 292 of Company's Act, 1956 . please give the remedy for the same, if any.

promoters contribution in public issue as per law




public issue by unlisted company is 20% of the post issue capital




and it also written minimum contribution of Rs. 25000 per application from each individual and minimum contribution of Rs. 1 lac from firms and companies shall the eligible to be considered towards promoters contribution




if where promoters minimum contribution exceeds Rs. 100 crore the promoters shall bring Rs. 100 crore before opening of the issue and the remaining contibution shall be brought in by the promoter in advance on pro rata basis before the calls are made to the public.




QUERY:



1)what is the meaning of post issue capital?



2)exaplain briefly "minimum contribution of Rs. 25000 per application from each individual and minimum contribution of Rs. 1 lac from firms and companies shall the eligible to be considered towards promoters contribution"




3)explain brieflywith example "in advance on pro rata basis before the calls are made to the public."