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

I once again want to raise the question that whether sect 274 1 g applicable only to the director of public ltd. co or pvt ltd. also??????? As I am not satisfied with prev. soln'.

When a 'X'company is under loss/bankruptcy Why a 'Y' company which is doing well will acquire 'X'. What are the benefits for 'Y'. What is 'X''s position in the company.

Sir, section 274 (1) (g) of companies act, 1956..... is this section applies to private companies as well or only for public companies?
Whether a director of private co. if disqualified on the same terms as mentined in above section then can he be appointed as a director in another private company?

Sec 274(1) starts with the opening statement that "A person shall not be capable of being appointed director of a company, if - ..."

It does not distinguish between a Pvt co and a Public co.

Will it means if a director is disqualified u/s 274(1)(g) not eligible to be appointed in public companies as well as in private company ???

Do an unlisted Limited Company with no Public deposit require to make Audit Committee.

Can any boby explain me how to compute the deprication as per company Act

After forming Audit Committee is there any requirement to inform this to ROC. Is there any specified form.

Hi,
I want to start my architecture firm with my friends. what would be more preferable: partnership or private ltd company.

Does one need to prepare the financial statements in case of partnerships. where to register the partnership firm in Delhi? what all taxes need to be paid in both the types of business entity?

Hi,

My company is a limited company and incorporated in oct,09. please tell me what rate of depreciation i follow as per company law or income tax law


Thanks