XYZ Private Limited had approached TIIC (a govt of tamilnadu financial institution) for term loan and same has been sanctioned.

One of the condition imposed by TIIC is the Articles of Association has to be amended in such a manner that the "Directors of the company should hold Qualification Shares".

There are three directors in the company
(1) Promoter Director is holding substantial holding in the company
(2) Other two directors are already holding 100 shares each.

My query is as follows:

Can we amend the articles for the directors to hold qualification shares of not less than Rs.1000/- (100 shares of Rs.10/- each)

Is it enough if they hold 100 shares of Rs.10/- each or Should they hold 500 shares of Rs.10/- each aggregating to Rs.5000/- (Section 270 prescribes Rs.5000/- as qualification shares)

Please clarify

Muralidharan

whether an asset can be fully (100%) depreciated under the companies act as per schedule XIV - pls... explain with details

Dear Experts,

Are there any rules/clauses regarding opening of a Bank Account in LLP in India as per LLP Act,2008/Rules,2009? Also, can a bank account opened in the name of an LLP be operated by any Partner?

I am very confused and in urgent need of help.Please provide a reply as soon as possible.........

Dear experts,

what are the provisions relating to above mentioned subject in Company Law?

a group company borrowing from another group company more than its paid up capital then would it be illegal? it is shrot-term borrowing for 7 days.will not section 293(1)(d) applicable here? it is a limited unlisted company.

practically, inter corporate deposits register is maintained under section 372A for both the co's (giver and taker). but always a board resolution is passed. please let me know wen a special resolution is required.

please tell me where and how this provisions of 293(1)(d) and 372A get attracted.

i am very confused and in urgent need of help.please explain me as soon as possible..

If the director of the private company uses the designation of CEO, what are the formalities to be done?

Can u please share a draft ESOP scheme for a private limited company in consultancy business

A person who was working as a Company Secretary in a public company resigned from the job 2 months back but due to some disputes between the management and CS company has not filed the form 32 for his resignation.

Now he has joined the another company and wants file form 32 for his new appointment. my question is whether he can file the F-32 for his new appointment since the F-32 is not yet filed for his cessation from the old company.

if it is not possible to file F-32 for new appointment than what options are availble for the cs if old company not ready to file F-32 for his cessation.

Dear Members,


(A)Can anyone provide me the format of

1) Declaration - compliance of companies act 1956
2) POA - for furnishing docs to ROC


(B) The company has already entered into a rent agreement in the name of one of the directors. so in this case how the company can be made liable. Is is that the company should enter into a fresh agreement after incorporation or any other alternative is available.

Thanks in Advance

Hello Members,

Now i have obtained DIN & DSC. So the next step is to fill in Form 1A and there is no requirement for any attachments.

Just wanted a clarity on this

Thanks in advance

The company has obtain a term loan for purchase a office and mortgage will be created when property will be registered in the name of company. In respect of same the Bank has executed the following documents:
1. DP Note
2. Declaration from Company that it shall create a charge on the asset within 30 days of its acquisition specifying clearly the details of the property to be so acquired.
3. Term Loan Agreement
4. Agreement of Hypothecation of property (to be acquired).

Can the charge be created on the basis of the above documents or is the mortgage document required? Is there any other document required for the same?

Can you give reference to the Sections or any case law in support of the answer