Dear Members

A public company had appointed an Auditing Firm as Internal Auditors. The said auditors are submitting their internal audit report to the company / board every quarter. The internal auditors are paid the fixed fees for their report.

The company use to invite regularly the Internal Auditors for attending the Audit Committee Meetings. They also use to attend such meetings. Recently the internal auditors have informed the company that for attending the "Audit Committee Meetings" or "Board Meetings" they have to be paid sitting fees like directors.

Is there any provision in the company law to pay such fees. Is there any guidance note issued by the CA Institute for payment of such fees to the Internal Auditors. what are the solutions available to the company for paying or denying such fees to the internal auditors.

with regards

R. Muralidharan

I have some questions regarding preference share issue.

1)what is public issue whether it includes issue of preference shares?

2) If a limited company wants to raise preference shares will it follow Sebi guidelines.if yes, that are they?

3) Will it issue statement in lieu of prospectus?

Dear Members,
The query relates to investments

(a) What is the meaning of OCB?
(b) The assessee holds a OCI ( left to UK in in 2003) and now he wants to do a business in india. So what are the provisions as to investments and other laws applicable.
(c) if the assessee is a green card holder ( he left to US in 2005 ) and wants to do business in india. So what are the provisions as to investments and other laws applicable.

Require valuable info for incoporation a company - whether as Ltd company or as LLP
and the laws which are applicable

Thanks in advance

what is the procedure to transform from propritory concern to private limited company

ICSI has uploaded Secretarial Standards on Minutes of Meeting, Board Meeting etc on their website.
I want to know whether they are mandatorily to be followed by companies which are already binded by companies act. If they are applicable, then any govt notification (gazette) through which they were enforceable on companies?
Kindly let me know as soon as possible.

Pria Mani

step by step procedure(guidelines) for converting partnership firm into private company. Also tell the benefits of such conversion.

the company got incorporated on 16/01/2009 and AGM conducted on 10/07/2010, for the financial year ending 31/03/2010 what is the due date of AGM

I am having one registered GPA for sale and development of land from a private limited company and at present i came to know that the company is applying for winding up after fulfilling all statutory reports. Now i want to know whether my GPA is valid even if the company is winded up and can i enjoy the same rights which wont effect my purchaser's rights in it.Please advice me in this

Dear Friends / Experts,

Please see the following and advise :

A, a shareholder in a ABC private company.
B, a relative of A.

Query

Can B (relative of shareholder) directly give loan to ABC private company ?

Ans : ...............

I shall wait for your views.

Thanks.
DK.

Company A, is an unlisted public co., proposes to issue right shares to existing shareholders in the same ratio. 49% os shares are held by NRI. At time of original allotment we filed form FCGPR.

The query is should we have to file form FCGPR even for rights issue with RBI. PL CLARIFY