Mr.X is a director of abc pvt. ltd. co. (unlisted). He is having 95% of the shares. Now he want to issue 500 shares to a new member. But the new shares are to be issued from x's share only thereby not increasing the suscribed capital. Wht is the procedure for that?

Dear All,
A company XYZ private Limited is already incorporated. The existing 2 directors of the Company hold shares in equal ratio (i.e 5000 shares @ Rs10 each are held by each director). Now these shareholders want to introduce more 3 people in the Company as shareholders without increasing the paid share capital. so this can be done only by transferring the existing shares to new members such that each of them hold 2000 shares (20%) holding.
My query is

1. What is the procedure for such transfer ?
2. What records do the company need to maintain regarding this transfer and is any intimation to ROC required?

3. What should be the price at which the shares would be transferred? can they be transferred at their face value of Rs. 10/-?
4.What is the implication of this transfer under the Income Tax laws on company or existing member or new member?

5. is it mandatory to issue share certificates after the transfer?

Hi all

Can anybody tell me, what would be the procedure if an additional director is not to be appointed in the AGM for a limited Company?

Dear Experts,

Kindly advise.
A Director resigned just before the date of AGM, but the company neither in 20B nor in the form under schedule V mentioned the cessation.

My question is, can it be mentioned in the next years' 20B & schedule V or it should be kept blank, as the provision specially says to mention changes from last AGM and the change pertain to the date before last AGM.

Regards,

can unlisted company pass a resolution by postal ballot as per the section 192A of companies Act.

what is sec 25 companies

which date consider transfer date
1.date of transfer deed
or
2.date of approval of transfer by board

Dear Friends

Please note that my company has been recently been changed in Public Limited Company (Unlisted). We have 4 Directors (all appointed as executive director)- 2 promoter directors and 1 director finance and 1 Director operations.
Now as the 2/3 of the Audit should comprise of the Audit Committee plan to appoint one of my promoter director as non executive director and the director operations as non executive director by filing revised form 32 and making them part of the audit committee . Rest my MD and Promoter director will be part of the audit committe and thus my audit committe will be formed.

Pl give your opinion. Correct if I am wrong.

ESI exempt in sez unit ? if yes or no. plz give me reason.

Can Executive Director be paid any sitting fees in case of Private Company?
And also let me know, If member of the Board is not designated as a Director,then sitting fees is payable to him?