The subject circular deals with defaulting companies who have not filed their Balance sheet and Annual Returns with ROC. The said circular states that members of ICAI, ICSI and ICWAI MUST NOT issue ANY certificates to such defaulting companies other than e-forms mentioned in that circular.
The words 'any certificates' used in the circular has wide meaning and covers any certificates issued under the provisions of income tax, service tax, customs, excise, labour laws to mention only a few. It badly affects the practice of CAs. Whether CAs are bound by the circular or by the guidelines of ICAI? What is institute's stand?

Dear Experts,

1) my client has taken an O.D 6 months ago, bank has not filed Form 8, I want to know whether form 8 is applicable for O.D also , if yes, do we need to go for condonation & what forms are to be filed ?

2) if the property of the Director is mortgaged , will there be a question of filing form 8 as i understand that only the property of the company can be mortgaged and a charge can be created.

thanks in advance

Hi to all, Please let me know about penalty rate for late filling of DIN-2 by director to the company.
Whether Director is liable to pay penalty or Company ?

Section 288 of the Companies Act

(1) If a meeting of the Board could not be held for want of quorum, then, unless the articles otherwise provide, the meeting shall automatically stand adjourned till the same day in the next week, at the same time and place, or if that day is a public holiday, till the next succeeding day which is not a public holiday, at the same time and place.

(2) The provisions of section 285 shall not be deemed to have been contravened merely by reason of the fact that a meeting of the Board which had been called in compliance with the terms of that section could not be held for want of a quorum.

Articles of the Company

117. (1) The Board of Directors may meet for the dispatch of business, and adjourn and otherwise regulate its meetings, as it thinks fit

Meeting

(2) A Director may, and the manager or secretary on the requisition of a Director shall, at any time, summon a meeting of the Board




Facts:

Total No. of Directors: 10
Quorum: 4
Date of board meeting: 25th June, 2011
No .of Directors who can attend the Meeting: 3

Possible Solution:

In the Above case is it Possible that the three directors meet on the scheduled time and adjourn the meeting for 2 hours or so (because Articles authorize) and meet again and conduct the meeting. Section 174 provides for the general meeting, so can we apply the same if Section 288 is silent. Further it is not possible for any other director to attend via video conferencing.

kindly help.

I am a company
I have taken unsecured loan.
while deducting tds i have given the wrong pan number of the deductee
what is the procedure to correct the same.

Dear Experts,

A Ltd is the holding company of B Ltd.
The financial year for A Ltd.(Holding Co.) was from 01.10.2009 to 31.12.2010 i.e. 15 months and the financial year for B Ltd.(Subsidiary Co.) was from 01.04.2010 to 31.12.2010 i.e for 9 months..
Therefore while preparing the statement as per Section 212 are the figures to be adjusted??

Hi,

Please Clarify

A Pvt. Ltd. company has 99.99% of its Paid-up Capital held by another Pvt. Ltd. company and remaining 0.01% by another Pvt. Ltd. company?

Can the company holding 99.99% of the paid-up share capital be called wholly-hold subsidiary of the earlier company?

Please provide solution at the earliest...

In case of Board Meeting, if the Quorum is not Present than the meeting shall stands adjourned. what if at the Adjourned Meeting also the quorum is not Present?

We are in the process of forming a new company. The name we have got is Productive life essentials Skills Pvt. Ltd. what we wanted is Productivity Life Essential Skills Pvt. Ltd.. In the word Essential - there is an added "s" which makes it a plural.

We need to amend this name. Suggest how it will be done.

regards
sajjan kumar singh
icwa, ca(semi), b.com(h)

i want to open a private limited company
please instruct me the step by step process for the formation of a company.
also provide with the fees that need to be paid for filling various forms