I have aske a query yesterday regarding if a public company gives loan to a society registerd under the Societies Registration Act, 1860 of which the director of the Compani is a member, does it attract Section 295 ? Please give me clarification over this issue.

Sir,
Our private limited company issued Rs.2.5 crores shares with premium to Foreign National (Individual) in the year 2001. But that time company not complied with RBI procedures and not filed the Form FC-GPR and also company not having FIRC certificate.

Now company wants to return the same amount to foreign national (Individual) by transferring his shares to one of company’s director. So, wht procedure should we have to follow and which compliances have to do for RBI?

Take into consideration the situation:
The company is sick company and is in losses from last 7-8 year. The business of company is strike off and there are no any employees on the pay roll of the company, they left the job by giving resignation.
We (company) are not having any proof of remittance by bank. We received the remittance through Bank of Maharashtra, Pune.

Let me know in detail what procedure should have to do for company. Expecting your kind co-operation for sort out the matter.

Thanking you,
CS Sandip Rahane.

In a public company’s shareholding pattern there are 10 shareholders. Is it possible to issue bonus shares to only 4 members with the consent of all members through a general meeting?

Or is it necessary to issue bonus shares to all 10 shareholders?

Company is authorised by its articles to issue bonus shares.

This is one of my friend’s query and he is not satisfied with my answer. I urge you all to provide some solution.

Thanks & Regards

How to tackle Economic law (means MRTP, competition Act, IDRA and foreign trade policies). means they are a bit monotonus, I have completed 1100 pages Company Law, but can not complete 200 pages of Economic law, as it is too monotonus and can find logic behind some topics.
help me

Please tell me the procedure to write off the preliminary expenses as per companeis act. 1956

Please tell me the rules of write off priliminary expenses as per Companeis Act. 1956 as soon as possible

Whether a closely held pvt co (not a subsidiary of any pub co.) with 2 directors and same 2 as shareholders both are NRI's, hold its AGM in a place outside india.

As per Sec 166(2) its states that agm to be held in the regd off or within the city limits, wheareas the second proviso (b) to the section states that a private company not a subsidiary of pub co may in the like manner and also by resol agred by all the members thereof fix the time as well as place for its AGM. If this is so can i interpret that a pvt co. can hold its AGM outside india.

In Form 23AC / ACA, we have to mandatorily write the Gross value of transactions with AS-18 parties. My queries:

1) Who are those parties?

2) What should we exaxtly look in the Balance sheet / P&L A/c to get the AS-18 figure (e.g. directors remuneration, etc). Please give a list of all the probable items appearing in the B/Sheet and P&L A/c

dear all,
could any expert guide me how to pay consolidated stamp duty. the case is ABC Pvt Ltd acquired 100% stake in PQR Ltd.
the share transfer form is already signed by transferor favouring transferee.
since it is Tranfer form is already signed bank will not accept / frank stamp duty.
then how can i pay the stamp duty.
the only possiblility i think is consolidated payment. then can anyone guide me about process to pay consolidated stamp duty with compounding penalty or interest.
it is very urgent...

Regarding Additional Director regularisation :

As per provisions of companies act, the company (Private Limited) is supposed to regularise the Additional Director as Director in the AGM.

Suppose, if the company did not regularise the Additional Director in the AGM and that Additional Director also continuing his directorship and signing the directors reports and documents on behalf of the company, what will be the impact and remedy to regularise the Additional Director as Director.

I look forward to receive response on the matter.