Dear All,

Kindly advise, whether Sec 372A of Co Act, applies in following cases:

1. While issuing Corporate Guarantee (CG) exceeding the cap (60% of pd up cap + free resev and also 100% of free reserve whichever is higher)

2. CG is issued by subsidiary to holding
3. If such subsidiary is not 100% subsidiary

Pls give reply case specific and also a combination of all three conds.

Regards,
Sunil

I want to know following things about aPart IX Company.
1) what is a Part IX Company.
2) diffrent points to be kept in mind while drafting notice, director report or auditor report of a Part IX Company.
3) Any other special provision which apply to Part IX Company but not to others companies.

Dear All,

"However, there will not be any change in the date of closure of the Register of Members and the Share Transfer Books of the Company i.e. August 13, 2010 to September 01, 2010, both days inclusive, for the purpose of dividend."

pl. advise i am eligible for dividend in following cases:
1 share purchase on 12th Aug. and sold on
13th August
2 share purchase on 12th Aug. and sold on
1st September
3 share purchase on 12th Aug. and sold on
2nd September
4 share purchase on 13th Aug. and sold on
1st September
5 share purchase on 13th Aug. and sold on
2nd September
Rgds,
Ramesh

An italian national wants to take the DIN who is visiting India shortly. What is the procedure to be followed for getting a DIN. Please advise.
Thanks in Advance

Santhosh

Dear Sir,

Company A is a Pvt. Ltd. company. The articles of association of the company say that the company must abide by Article 81. However, Article 81 is itself not to be applied incase of pvt. ltd. company but still the articles of association mention that article 81 has to be followed. The shareholders % is given below :

X - Holds 66%
Y - Holds 20.71%
Z - Holds 6%
Total of several small shareholders - Hold total 6%

Company A has decided to increase its share capital to twice the current value.

Can Shareholder X oppress the Minority Shareholder Y and allot shares and offer only to X, Z and others and NOT OFFER THEM TO Y ?

Even if Special resolution is reached and passed which indicates a majority of over 75%, can the minority shareholder Y be oppressed or can Y fight for his rights as he has not been offered shares ? Can this be challenged in court ?

Please reply as this is not understood clearly yet.

Thank you.

one of my clients from america is developing a website in america. he has hired some software development professionals in india for software development work of that website due to cheap labour / outsourcing to india. Right now he is making payments to professionals in india from U.S.A. & wants to regulate this business, as he wants to cater other clients also in U.S.A. to development software for them from here in india.
my query is what should he do?
1. should he create a private ltd. co. in india?
2. should he open a branch of foriegn co. in india(he is the director of his co. in U.S.A.)
pls. answer w.r.t. benefits he can enjoy under FEMA and benefits / conveineances he can get under income tax / service tax. Any Income tax exemption for export of software from india FOR BOTH THE OPTIONS?? I WILL BE VERY GREATFUL.........

Company has entered into an buying agreement with a propietory concern in which a director of the co is sole proprietor. The case fals under section 297 of the Comonaies Act for which Board's approval is enough. So I would like to ask u that whether disclosure of this is required to be made in Annual Report of the company. If Yes then whether it is required to be disclosed in Directors report or Auditor Report.

A RESOLUTION WAS PASSED BY THE COMPANY IN THE PREVIOUS AGM UNDER SECTION 293 (1)(a)and section 372 (a)of the companies act. Whether the same is required to be passed in the current AGM also.

What should I do, if I fail to make payment of challan of Form 5 before expiry date?

Who shall attest the DIN application of the director residing outside India?