Query : Public Company - Directors without Salary / Remuneration -

ABC Limited has three directors on its role.

Since the inception, no director is paid any sitting fees / salary / remuneration till date.

All the three directors are relatives only. Two are Promoters - Non-Executive Directors and One is Independent – Non-Executive Director.

Whether the company is in compliance with the provisions in respect of remuneration to directors.

Please clarify on the matter.

If one private limited company gives corporate gurantee for Bank Loan taken by its other Group Company, then whether it is necessary to intimate or register this guarantee given to the other company by way of e-Form 8 ??

Remark :- The company who is giving guarantee has already taken loans for own by mortgaging & hypothecation of assets.

Hello
i have a querry regarding applicability of CARO. Situation is ...........
A Pvt. Ltd Company engaging in Real Estate business with authorised capital of Rs. 25 Lacs, during the year, the company did not take any transaction and not taken any bank laon. the company accepted only deposits from the relatives of the directors.

my question is that whether CARO is applicable on this company or not.

Thanking you,
Amit Bansal
caamitbansal2007@gmail.com

Esteemed experts pls answer this:

A private co is incorporated in india having 3 foreign directors and 2 foreign co's as shareholder.
Company was incorporated in the month of april 2009.
Such indian co has not till date issued any share cert to those subscriber foreign co's till date.
Now in the month of august 2009 such foreign directors came in india.

My query is :

Can we now issue share certs to those subscribers after a gap of 4.5 months since incorporation of the company?

is there any contravention of issue of share cert rules because rules specifies issue of share cert within 90 days of allotment.

Moreeover we cant allot share cert outside india because we cant move common seal out of india and issue of share cert is not valid without common seal.

Also mention what will be the date coming on the share cert :

1. is that the date of allotment OR

2. is that the date of signing of share cert by director and autho signatory OR

3. is that the date of incorporation of the company OR

4. is that the date on which directors are authorised to sign the share cert vide board resolution.


Best Regards

NEHA JAIN

We are already appointed an auditor in the last AGM.as per rule he will be eligible to hold the office this year AGM.Now we want to Appoint a New Auditor,instead of Reappointing him

what are the procedures to Appoint New Auditor
What Resolution And forms In this regard
what are the Proceedings of existing Auditor.

Kindly Send reply with Brief.It is a Private Limited Company

Thanks a lot

sir

We are already appointed an auditor in the last AGM.as per rule he will be eligible to hold the office this year AGM.Now we want to Appoint a New Auditor,

what are the procedures to Appoint New Auditor
What Resolution And forms In this regard
what are the Proceedings of retiring Auditor.

Kindly Send reply with Brief.

Thanks a lot

Dear Experts,

I have the following doubts, Plz clarify at your end:-

Can a private limited co. issue debentures & what r the requirements by Pvt Ltd. Co. to do so.

Futher, pl reply as per following queries :-

1) How can we got the debentures fom ROC ?

2) Shud v paid any duty to ROC for regd.
of such debentures like shares ?

3)in pvt. co. the debentures should be issued amoungst members & directos only ?

Hoping a positive feed back from your end

Rgds

Amit

i have to make a new company. which is non profit organisations. what the procedure for formation of a NPO company & is it limited or Pvt. limited.what is the requirement under sec 25

i have filed form 23 with wrong date and day and it was approved by roc. can any one suggest me that what i have to do next

Thanks Amit for reply.

But then what is the maximum limit stated in provision of section 198 and 309 for managerial remuneration i.e 11% of net profit and if remuneration exceeds above limit company needs to take approval from Central Government.

awaiting for reply