Hi,

Can u pls explain me the procedure for conversion of preference shares to equity shares.

For what period redeemable pref shares can be issued.

If the equity shares are to be issued at premium, should the company requires sufficient reserves and surplus in books.

Any other conditions there to be fullfilled?

Thanks in Advance

Jaison

Dear Experts,

please let me know which provision of Companies Act 1956, make it mandatory for a Partnership Firm converted into private Company, to adapt the Articles of Association.

Hi,

If a apply for exit under Easy Exit Scheme,2010, can I reinstate my company u\s 560 of Companies Act? Will that provision hold good under this scheme?

Dear Experts,

We have paid up capital of 10000 equity shares of Rs.10 each.

We have issued the share certificate, starting from Distinctive number 1 to 10000/-.

Now, we have consolidated the shares of Rs.10 each to Rs.100 each. Now there will be 1000 shares.

We have to issue the fresh share certificate. My question is whether the distinctive number will start from 1 or 10001.
Kindly reply

My client having a pvt ltd co. They have accepted deposits from shareholders and from directors.As per section 58A, directors deposits is not considered as deposits.My querry is on directors deposit can we pay more interest then stipulated in rule. Further what is the maximum interet company pay to its depositors?

pl reply

One company to whom we sales, in not making payment since last 12 months of huge amount. Now a days, this company make a change in main object of its business. As far my knowledge is concern, company has filed petion before ROC/CLB, along with list of Creditors (Previously it was Form No:7). As the company is not giving copy of account and payment, I want to know whether my name in creditors list or not. Pl. help me how to get certified copy of Creditor's list. It is confirmed that main object changed on 17th February, 2010 (from search of ROC). Any one can help me ???
Thanks a lot in advance,

Query regarding Form 23AC - Capital Reserve / Capital subsidies.

ABC Ltd in its Balance Sheet has mentioned Rs.2,00,000/- under the Heading ‘Capital Reserve’.

There is a note mentioned in the Balance Sheet. That is, Capital Reserve represents subsidy received from the State Government under the State Capital Subsidy Scheme, 1971.

Query : Where do we fill the amount Rs.2,00,000/- ?

Whether we will fill in Page 6 – II. 13. Capital Reserve only or

Whether we will fill in Page 6 – II. 15. Capital subsidies…… only or

Whether we will fill in Page 6 – II. 13. Capital Reserve & also in
15. Capital subsidies.

Experts may recommend the appropriate method for mentioning the amount in the right field.

Thank you for all the concerned.

Query regarding AS 18 to be filled in Form 23ACA & 23ACA

Following may be seen :

Transactions with the related parties as per AS-18

Sale of Finished Goods 1
Purchase of Raw Materials 1
Purchase of Capital Goods 2
Consumables 2
Fees for technical assistance 3
Consultancy services 2
Interest on ECB 2
Travel Expenses 2
Towards share capital -2
Conversion charges 2
Repayment of loan 5
Reimbursement of expenses, net -4

Please confirm whether AS 18 for BS is 9
and P & L is 18 or

Please suggest the appropriate method with the basis.

Experts may guide suitably on the above matter and THANKS for the concerned.

OIDC(a government owned company)and a group of firms in Daman have made an agreement to DEVELOP ROAD and for which one of such firm has paid Rs.260000/- to OIDC(firm's share) which is material,considering the nature of firm so whether the expenditure can be considered as Capital expenditure or revenue expenditure?

Respected Members,

A Company having its registered office in the State of Gujarat has availed some credit facilities from a bank of New Delhi, that bank is not having any branch in the city where registered office of the Company is situated.

Documents were executed at New Delhi only, my question is Stamp duty of which state shall be applicable for execution of the documents... Gujarat or Delhi ?