Rates prescribed in Schedule XIV to the Companies Act, 1956 are not mandatory . But as per section 349 and 350 for the purposes of calculation of managerial remuneration availability of profits for distribution as dividend, the rates prescribed in said schedule shall have to be applied.

But what if we are not distributing dividend and we calculated net profit for managerial remuneration separately then what will be the position.........???

Statuary Meeting is held once in a life of of a Ltd. Company.

A partnership firm convewrted into Ltd compnay under Part IX of the Companies, Act, 1856,

My queries is Statutory meeting is compulsory for the said companies within 6 months of its incorporation.

Or

When Private Ltd companies converted to Ltd Company, in that case statutory meetiung is need to hold

A private company pays only professional fees to the director. No other managerial remuneration is paid.

Is it allowed under companies act?

As we all know a company being a juristic person can become a partner in a partnership firm, if it is authorised to do so by its objects.

But the liability of a partnership firm is unlimited on the other hand liability of a company is usually limited.

My Query

So if a limited company becomes member of a partnership firm then what would be the status of company’s liability in that Partnership Firm?
Is there any decided case law etc.?

Can anyone send me checklist for Compliance as per Companies Act on canehagupta1@gmail.com

Dear Friends,

I want one clarification about first Balance sheet of company, We started One company 2 years back and still we are not done even one transaction so that still we are not submited Balance Sheet, Here my question is now what we should do for delay in submit the Balance Sheet.

Dear Friends,

Kindly tell me the time limit to submit the First Balance Sheet of Co

Dear Friends,

Kindly give me the Clear Picture about Provision of Sec 383A Appointment of Co Secretary.

What requirements must a space meet to be a registered office? Must it be located in a particular zone (e.g. commercial, not residential)? Could a person's apartment serve as a registered office? Must it have a phone line? Must there be a certain number of employees located at it? Must it have a certain amount of square feet? Etc.

Hi All Gurus

Our Company declared dividend of 8% for the year 1997-98, but the payment of the same was stayed by the High Court on the complaint of Financial Institutions.

We got the stay vacated in 2006 and made the payment of dividend to shareholders.

Now our Auditor is saying that the Dividend Amount should have been transfered to Investor Protection Fund within 7 years from the date of declaration.

As per my understanding the period of 7 years will be counted from the date of vacation of stay order of the High Court and not from the declaration of Dividend.

Please give replies.

Thanks

Samar