Dear friends

What is the remedy if a director refuses to sign the balance sheet of a Private limited company

One of the software company(client) has purchased a Computer Server on Finance Lease, and the agreement contains the clause that the Computer will be taken back in case of default in payment, and also the charge is not registered with ROC on the same machinery, now how we should disclose the loan into the Balance Sheet Sch VI format? whether as secured on account of security as machinery itself or as unsecured as the charge is noted with the ROC and also no other security is given to the vendor......

Our company Mongia Steel Limited has been changed from Mongia Hi-Tech Pvt. Ltd to Mongia Steel Ltd. on dtd. 31.01.2011. I want to know whether the balance sheet for 31.03.11 will be made in the name of Mongia Steel ltd. or Mongia Hi-Tech Pvt. Ltd.

Pravin Baranwal
Chartered Accountant

A listed company has given barely 8 to 9 days notice of its AGM to its shareholders which is in contravention of S.53 of the Companies' Act,1956. Can a shareholder having sufficient proof of the short notice, restrain the chairman of the meeting from commencing the proceedings of the meeting? What happens to the AGM,if the chairman listens to the aggrieved shareholder? If the chairman, at the insistence of the MD or other directors still continues with the proceedings, would the resolutions have validity? Would the holding of AGM be considered as illegal & S. 166 would be contravened. What would be the legal remedies? Can High Court, SEBI, ROC, CLB, BSE/NSE be approached in such a scenario? Request you to please throw light on the issues raised.

Kindly let me know, what are the documents to be filed with ROC Annually by a Liason Office set up India.

Whether the Liaison office has to file:

its world account???

Please let me know along with due date.

Dear Sir / Madam,

Can Company refund the share application money before the allotment of shares to applicant?

If yes within how many days money can be refunded?

Can remuneration be paid to a director who is not a MD and whole time director,and if yes what are the compliances to be followed?

Company made profits (PAT) of Rs 4.5 crores after taxes and absorbing previous years losses. But no dividend was declared or paid till date for year 2010-11. It is a closely held private limited company with only two share holders. Now share holders are asking for dividends. Can we pay dividends in middle of year? If yes kindly give the procedure

Is it Compulsory to file Compliance Certificate if my company's paid up capital is more than Rs. 5 crores and not appoint any whole time CS?

X Ltd. is holding company and Y ltd. is its subsidiary. Mr. A is a Managing Director in Y ltd and is to be appointed as Whole time director in X ltd.
As much as I could find in the Act, there is no restriction nor any provision relating to this.
Pls opine how shall such an appointment be made.
Pls reply urgently