Dear sir/ ma'am
Am a keralite, now here there is one multi level marketing company which is incorporated as a public ltd co is issuing shares to public at Rs 4/ share. They are having a plan to start retail outlets over kerala and saying they will be listed in 2012. They have shown the the regn certificates in their website and issued share certificates to customers'. They are telling that the face value is Rs 2/share and premium Rs2/. Is there anythng like that aco can issue shares to public as bulk before got listed in stock excnge. My friends are forcing me to do the marketing for this. Please i need an expert advice.
Thank You.
Shiyas

As per the Unlisted Companies(Issue of Sweat Equity Shares) Rules, whether it is required to provide the explanatory statement while passing the Special Resolution though the AoA of Pvt Company does not require the explanatory statement i.e, a clause which states Sec 173 of Companies Act, 1956 does not apply.

And please let me know what is meant by Lock-in of sweat equity shares?

Hey all please reply

Form 1A has been approved
while filing Form 1 point no. 7 asks for main division of industrial activity of the company, my companies main object is as follows:

1. To act as management consultants, financial consultants and provide advice, services, consultancy in various fields, Business process outsourcing, general administrative, secretarial, commercial, Taxation, financial legal.

2. To carry on the business of Merchant Banking subject to approval of Securities and Exchange Board of India under Securities and Exchange Board of India (Merchant Bankers) Rules, 1992 and regulations made thereunder and such other approval as may be required from other authorities in this regard but not to carry on all or any part of banking business as contemplated by the reserve Bank of India / Banking Regulation Act, 1949.

3. To carry on and engage in the business of Share and Stock Broking as a member of any recognized stock exchange, to become and act as member of cash, forward (Derivatives), Commodities and Debt segment of such exchanges, to become sub-broker of a member of any such exchange, to engage and act as depository participants, to engage and act as brokers and/or underwriters, to primary issue of shares, bonds, securities, units of mutual funds or financial instrument of any other kind and description.
(WHICH CODE SHOULD I GO WITH)

QUESTION NO.2

What is the procedure after this does MOA & AOA has to get approved first with ROC. or directly file with Form 1.

Question No. 3

Online stamp duty ha sto be paid has it to be paid by credit card only

Our company wants to pay interim dividend for the financial year 2009-10 can it do so now (i.e in may 2010) if the profits were assessed as adequate?


or only final dividend can be paid now, as far as my understanding interim dividend means dividend paid between two AGM's so company have the option to pay interim dividend now.

Kindly rectify me if I am wrong.

CARO reads :
1. Incase of dues of Income tax/Sales Tax/ Wealth tax/ Service Tax/ Custom Duty/ ED have NOT BEEN depositted on account of any dispute, then the amounts involved and the forum where dispute is pending shall be mentioned.

The amount disclosed under the above head should tally with the Contingent Liability right?
Are there any reasons why Due as per CARO needn't tally with Contingent Liability/Outstanding Liability?
Pl throw light.

Radhe Krishna

dear sir,

a public ltd. co. submitted its balance sheet and profit & loss a/c to ROC with some wrong information (e.g. wrong cash balance amount).
can this company change above mentioned wrong information?

Rendering of professional services by a non - executive director in his professional capacity does not amount to holding of office or place of profits. However if the services are rendered on regular retainer basis, it would amount to holding of office or place of profit.

Under which head it would be taxable in the hands of director i.e. Other sources (Director Fees) or PGBP(Proffesional Fees)?

Also whether the Reimbursement of expenses incurred by the director for providing the financial service would be taxable in the hands of director?

Also whether the same provisions/principle applies if the director is a Non- Resident?

hi,

i am working for a society which has been registered under society registration act since 1953 and also have trade mark of the socity name.

Somebody got register a Company of same kind under section 25 of the companies in 2008 using my society name.

can i oppose that company under section 22 of companies act in Roc.

if yes can u please suggest me the procedure with appropriate form for the opposition.

Hello,
I wanted to ask whehter the COMPANY LAW BOARD is now NCLT- NATIONAL COMPANY LAW TRIBUNAL? What reference should I make in my upcoming June 2010 exams?

The Pvt Ltd Company having a nominee director appointed by the investor company. And there is alternate director for a nominee director. Now the investor company replacing the nominee director.

Now my questions are

whether the alternate director of the 1st nominee director will automatically become a alternate to second director? If not what is procedure for appointing the same person as the alternative director to 2nd nominee director?

Whether I have to file Form 32 for ceasation of alternate director along with the 1st nominee director?