Sir
I would like to know the solution of the following situation:

1. A Private Company having aurhorished share capital of Rs 2,00,000/= but for requirment of cash the company issue share application money but not made alotment of share. This is the situation from last 2 years . What will be the possible threat in the above situation?

2. If the above mention company now increase their authorished share capital
will the problem resolved?

3. If a Private Company want to issue Pref.Share capital whether they are elligible to do that?

Q. For Remmittance of Preference Dividend we need to file RCD1 & RCD2 form ?

some one made a partnership firm with name as "ABC Pvt Ltd.", He had received Pan as well as sales tax registeration for the same name.

As adding Ltd word without forming co is violation of co law, so now what should be the course of action now.

can he change the name and submit an application for change in PAN data and sales tax reg. Data? or convert the firm to PVT LTD company or Discard the firm???

Who prepares and make amendments to the Bare Act? Is there a team of professionals which does that? What is the procedure?
Is there anyway we can point out grammatical errors or misleading statements in a Bare Act so as to suggest a rectification and is there a way to seek clarifications in respect of confusing statements included therein?

Why Ministry of Company Affairs is strictly not followed their rules / laws unlike Income Tax Department ?

At many places the language used in Bare Act is grammatically confusing.For explanation I am quoting section 69 here.

"No allotment shall be made of a share capital of a company offered to the public for subscription, [UNLESS THE AMOUNT STATED IN THE PROSPECTUS] which, in the opinion of the Board of Directors, must be raised by issue of share capital in order to provide for the matters specified in clause 5 of Schedule II [HAS BEEN SUBSCRIBED], and [THE SUM PAYABLE ON APPLICATION FOR THE AMOUNT SO STATED] has been paid to and received by the company, whether in cash or by a cheque or other instrument which has been paid."

Please notice the phrases which has been bracketed. The first two bracketed phrases, if read together, reads like this - THE AMOUNT STATED IN THE PROSPECTUS HAS BEEN SUBSCRIBED. How can we use a phrase "SUBSCRIBE AN AMOUNT". "SUBSCRIBE FOR SHARES" can be used.

Similarly the third bracketed phrase is very confusing. "THE SUM PAYABLE ON APPLICATION FOR THE AMOUNT SO STATED"
What does that mean?

If a company is treated as a quasi partnership firm. what kind of voting rights will be executed in a general meeting i.e. will it be based on shares, as normally in a company, or will it be on number of partners.
Also where can i get reference on this topic on the net.
Thank you.

Please tell me the consequences when a company absorbed or amalgamated with another company which is defaulted in the payment of "Small Depositors".

Can you pls tell me when shares are in physical form and there is no R & T involved, is there a Board approval required to transfer the shares. If yes, what will be the effective date of transfer the date of the instrument or the date of the board approval??

An Additional Director was appointed in 2005 to hold office till next AGM (i.e. till Sept-06). He continued with the company till date and his continuation was not informed to RoC.

My query is:
1. Whether he is called as Additional Director to date?
2. Whether RoC be notified about his continuance now?
3. As he wants to resign now, under what capacity he should resign?
4. Does he need to obtain DIN/DSC and do role check at MCA to resign?
5. Is he automatically resigned from his portfolio after the conclusion of next AGM?

Kindly reply. Thanks.