My Co. is Public ltd. Maharashtra. Face value of Share rs. 10 & Premium Rs. 10. The Stamp affix to share certificates are of Rs. 10/- Pls. tell me is it excess stamp duty paid??
I think Stamp to be affix should be of Rs. 5/-

Dear Experts,
Please let me know, whether it is statutorily required to open a seperate bank account for depositing the proceeds of the pref issue of warrants ( ie 25% payable intially) or can the company keep the proceeds in a current account only???
Pls reply. Its urgent.

Recently MCA has introduced EES, 2011 u/s 560 of the Companies Act for getting the name of Company strike off from the Register of the Companies & implication of this would be the Company will get dissolved.

My question is - Is any resolution is required to be passed by the members of the Company authorising directors to apply under the scheme?

what is whistle blower policy

dear sir,

our consulant purchase plant from differnet buyer but he does not chages vat on bill,so my question is that we should deduct tds on our consultant.


and my second question is that about jv.

interest received from bank,
i think the entry will be

bank/cash dr,

to interest received.

is it neccessary to mention the remuneration of related person of the
director for place of profit while filling the from 23?

Hi...



Pls. help......



Facts of the case



The paid up capital and Free Reserves of A Ltd. as at 31-03-2010 is as under:



Paid up Capital : Rs. 125,00,00,000/-



Free Reserves : Rs. 25,00,00,000/-

________________



Total Rs. 150,00,00,000/-

________________



60% of the Paid up Capital+

Free Reserves : Rs. 90,00,00,000/-



100% of Free Reserves : Rs. 25,00,00,000/-



As per section 372A (1) of the Companies Act, 1956 A Ltd. can make Loan, give guarantee or provide security in connection with a loan made by any third person to any Body Corporate or by any Body Corporate to any third person to the extent of Rs. 90.00 Crores.



The aggregate of the loans made, guarantee give and security provided by A Ltd till date is to the tune of Rs. 75.00 Crores. A Ltd. proposes to make a loan of Rs. 25.00 Crores to B Ltd.



For the purpose, A Ltd. has to obtain:



1. Unanimous consent of the Directors present at the Board Meeting where the proposal to grant loan to B Ltd. is considered by the Board.



2. Prior Approval of the Shareholders by way of a Special Resolution to be passed in the General Meeting of the Company.



Company A has availed a Term Loan of Rs. 60 Crores from IDBI(Public Financial Institution)and it is subsisting till date.



Since the aggregate of the Loans made, guarantee given or security provided by A Ltd.(together with the Loan of Rs. 25 Crores to be made to B Ltd.) exceeds the limit of 60% of the paid up capital and free reserves of the Company, the Company has to obtain the prior approval of IDBI even thought the Company has not defaulted in payment of interest or loan installments as per the terms and conditions of IDBI.{Section 372A(2)}.



Now, as per proviso to Section 372A (2) no prior approval of the Public Financial Institution is required if the aggregate of the loans made, guarantee given or security provided together with the loans/guarantee/security proposed to be made is within the specified limits (which is 60% of the paid up capital+ Free Reserves) and neither has the Company defaulted in payment of interest and loan installments.



My query is suppose the aggregate of the loans made, guarantee given, security provided is within 60% of paid up capital+ free reserves and the Company has not defaulted in payment of interest and loan installments whether the Company has to obtain any approval of IDBI after granting of Loan???????



If yes, suppose IDBI does not accord its approval then what????????

God Bless

Udit Sharma

Good evening to all of you.
I am having a doubt regarding the procedure and format of resolution to be passed for appointment of First auditor in the Board meeting.

My Company's Registered office is in Delhi and the company wants to conduct its Board Meeting in Haryana as the director of the Company presume that rate of Stamp Duty in Haryana on transfer of Shares is Nil. So Kindly help me out whether such action is correct or not.

Dear Experts,
In Which Cases there is a requirement of Compliance Certificates.