There is a public limited company (paid up capital Rs. 25 crore) in which 10 directors are there. Out of which one is Managing Director and one is Chairman. Now we want to give remuneration of Rs. 5.00 Lacs per month each to both MD and Chairman which we can comfortably give as per schedule XIII. To other 8 directors all are paid salary in the range of Rs. 50000 to 100000 per month.
In short all our 10 directors are paid Directors remuneration. Company is planning to get listed with stock exchange.

Now my queries are :

1. What will be the constitution of remuneration committee. I do not have any independent director in the company. Can a director who is paid remuneration be appointed as independent director.

2. Is constitution of Selection committee necessary / mandatory? If so, under which section or provision?

3. Can MD or chairman (in my case they are paid salary of Rs. 5.00 Lacs p.m.) be designated as non executive director? Can a director who is paid salary be treated as non executive director?

4. How much remuneration I can pay to all the directors under the companies act provisions section 198, 349, 350.

5. For paying remuneration for the year 2011-2012 we have to consider 11% of net profits of 2010-2011 or 2011-2012.


Pls elaborate and clarify.

I convey my thanks to Esteemed learned experts in advance.

How do we derive the ratio for the Issue of Bonus shares? Suppose if a company has paid up capital of Rs 51,60,000 & Reserves of Rs 35,20,000/- & it wants to capitalize its reserves & issue bonus shares. Then in what ratio will the shares be issued?

for private company, this is necessory to close register of members at the time of AGM.

Reply me along with applicable section.

Regards,
Ram

XYZ Pvt. Ltd. required to submit it's financial statements for commercial tie-up. It's Accountant have a printed copy of Annual Audit Report, but there are no signatures of Auditors and Directors. Is it valid for another party to accept such Audit Report ?

an advance is paid to director of a pvt ltd co over a period of time
can it be adjusted as consultancy fee to him in the current year?
if so what is the tax implication?

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Please suggest

Is it possible for a company to file XBRL voluntarily

Respected Experts,


One of Our client pvt ltd co. have not filled ROC filling for Form 23AC&ACA and 20B, from 2007 to 2009 but have filed 2010 and 2011.
Now the Problem is in 2007 to 2009 there was 2 dire Mr A and Mr.B and Mr.A died in Feb2010 He dont have DIN no. in his place Mr.C have appointed and filled Form 32 for both New Appointment as well as Died Director Resignation but today when we are going to upload Form 20B that time [Provide Director identification number (DIN) in case of director, Managing Director and Income-tax permanent account
number (Income-tax PAN) in case of manager, secretary] in this place the new director DIN is not accept and show msg "Enter a valid DIN" and with Single Director the Form is not Validate, Please help me what to do......?

Regard
Suraj Sahu

Can a Pvt Company issue shares to the company who is related party against loan taken from such company. And what will be formalities? Can this shares be iisued at pemium?

Dear Sir,

I required the information of company law and please send me one link where I can get all the details related to company law.