22nd March 2011

Dear Members

ABC Limited is a public limited company. XYZ is a Private Limited Company.

XYZ holds about 90% shares of ABC. Therefore ABC Limited is a subsidiary company of XYZ Pvt Ltd

Kindly inform whether ABC Limited can avail unsecured loan from XYZ Pvt Ltd which happens to be its holding company as well as shareholder.

Whether this would be a violation of Section 58A read with Deposit Rules of Companies Act

with regards

Muralidharan

Dear Sir,

Please clarify,
Whether the Name of the Director appointed vide form 32, which is under process and sent by MCA for re-submission, would appear under Signatory Details in the portal.

Also please suggest the procedure to get the certified copy of the e-form which is not appearing for public viewing in the portal, but SRN for the same is known.

Thanking you in anticipation.

Regards,

hi frndz,

does any one have format for corporate guarantee. its a bit urgent.

pls. send it to me asap.

regards,
dennis

Dear Friends / Experts,

Please help me to find out the latest MCA Notification for Schedule X - Table of Fees.

Thanks.

Dear Experts,

A closely held public company
has appointed Whole time directors complying the relevant provisions of companies act. However, while giving remuneration under sch XIII it has not complied with the condition of appointment of independent directors and forming of remuneration committee.

Kindly lemme know of the consequences/penalties of such non compliance

thnx

Mr. X & Mrs. X are appointed as Directors of a Private Company. They were drawing monthly remuneration of Rs. 30000 each during previous year.
Ms. Y daughter of Mr & Mrs X is appointed as a whole time director. They propose to enhance the remuneration to all the Directors as below:
Mr. X Rs. 75000 per month
Mrs. X Rs. 50000 per month
Ms. Y Rs. 45000 per month
As far from my interpretation of Section 314, there is no office of profit if the directors do not take away anything over and above the fixed remuneration. But my doubt is the appointment of the Daughter as Whole time director. Is there any need to Notify the Central Govt. regarding the appointment or enhancement of remuneration?
Thanks in advance...

Exact meaning of substantial ownership and effective control of a company?

is there any time within which the agenda should be placed or send to the directors of BM. which section deals with the same?

1) if a new company be formed by two separate existing company as shareholder/promoters.

2) if a company can have only two separate ltd companies as share holder and no individual person as shareholder.

Dear Friends / Experts,

ABC Private Limited, a Chennai Company was incorporated in 2006.

Company has got two shareholders with paid up capital of Rs. 1 Lac.

Shareholder 1 – US National, who is a director of the company – holding 5,000 equity shares of Rs. 10/- each or 50% of the paid up capital.

Shareholder 1 – Foreign Company – holding 5,000 equity shares of Rs. 10/- each or 50% of the paid up capital.

Query

Whether ABC Private Limited shall be a subsidiary company of the Foreign Holding Company.

Ans : ……………..

Whether the Foreign Company shall be a deemed public company as per Section 4 of the companies act, 1956.

Ans : ……………..

Now, Company has to file it’s First Annual Return. In the Annual Return under declaration, whether the following clause is applicable or not :

Declaration clause f.

since the date of annual general meeting with reference to which the first return was submitted or in the case of a first return since the date of the incorporation of the private company, no public company or deemed public company has or have held twenty five percent, or more of its paid-up share capital;

Ans : ……………..


I shall wait for your advise on the above queries.

Thanks.