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

1. The Private Company was incorporated in beginning 2007
2. The Paid up Capital of Rs.1 lac (10000 shares of Rs.10/- each) was divided as follows:

1. Mr.P 99.90%
2. Mr.Q .1%
3. Mr.P, Q, R and S were the directors of the Company. Mr.P had entered into a shareholder agreement (SHA) with R and separate agreement with S to form this new Company, whereby Mr.P was to transfer 10% of shares each to R and S respectively. The same was done in year 2008 at face value. The SHA however, does not form part of the articles and is being informally agreed between the parties.
Revised Shareholding pattern in 2008 (Post above transfer) is as follows:
1. Mr.P 79.90%
2. Mr.Q .1%
3. Mr.R 10%
4. Mr.S 10%
4. Now, there was a deadlock in management as Mr.S could not bring in desired business and there was non-performance. Mr.S has resigned in end 2009 at his will and has also returned the shares at nil consideration and wants to move on. The same has been mutually agreed to between Mr.P, Mr.R and Mr.S.
5. The Book Value of the Company is very high in view of accumulated profits. Mr.R wants to just return the shares without any consideration and move on.
6. The Company has further done private placement in March 2010 for 40,000 shares to a Company which subsequent to this becomes its holding Company (80%). The Total Paid up Capital now is Rs. 5 lac.

Query :

1. Company Law : How can he return the shares to the Company so that it does not hit section 77 (Purchase of own shares by a company) and Section 100 (Reduction of Capital) of the Companies Act, 1956.
2. Tax : Please enlighten on the tax implications u/s 56 or any other section. We do not want any tax implication in the hands of the recipient.

Dear Experts,

Please see the following query and do the needful :

ABC Ltd. was incorporated on 05.01.2009.

The company is fully inoperative till date.

In fact, the company did not even collected the Certificate for Commencement of Business.

But, after the letter of RoC only, the company filed the necessary form and collected the Certificate for Commencement of Business.

TILL DATE, THERE IS NO BUSINESS AND THE COMPANY IS FULLY INOPERATIVE.

Query : Whether the said company shall come under EES, 2010, as somewhere I noticed the expression that

'Only eligibility criteria is “being inoperative” or “not carrying on any business” for atleast two years'.

My doubt is with regard to 'two years'.

The said company is just 18 months old.

Experts may express their views on the applicability of EES, 2010 for the above said company.

I shall wait for your views.