Sir, As per Companies Act,2013, From the date depreciation schedule comes into effect, the carrying amount of the asset as on that date - a) shall be depreciated over the remaining useful life of the asset as per this schedule; b) after retaining the residual value, shall be recognised in the opening balance of retained earnings where the remaining useful life of an asset is nil. Can we reduce the residual value from the carrying amount as on 01.04.2014 and calculate depreciation on that amount on the basis of useful life of the asset or we should charge depreciation only on carrying amount of asset as on 01.04.2014 without reducing residual value?

Can a private company accept unsecured loan from HUF of promoter OR director.

Dear all,
Kindly guide me what provisions regarding depreciation need to follow under Companies Act,2013?

As per Notification no.G.S.R.464(E) dated 05/06/2015, clauses (a) to (e) of subsection (2) of section 73 shall not apply to a Private Company which accepts from its Members monies not exceeding 100% of aggregate of the paid up share capital and free reserves.

As per sub-rule 3 of Rule 3 of Companies (Acceptance of Deposits) Rules, no Company referred to in sec 73(2) shall accept or renew any deposit from its Members, if the amount of such deposits together with the deposits outstanding as on date of acceptance of such deposits exceeds 25% of aggregate of paid-up share capital and free reserves of the company.

So what is the maximum amount of deposits that can be accepted by a Pvt.Ltd.Company from its Members? Is it 25% or 100% of paid-up capital & free reserves?

Can any body please share the drafts required for passing of resolution by circulation.

thanks

Dear Friends / Experts,

Please guide me on the following, IF POSSIBLE:

A Private Limited Company had AGM on 30/09/2014.

Company has Three Directors-cum-Three Shareholders.

Two Foreign Directors (each holding 5,000 and 4,999 shares) and

One Resident Director (holding 1 share only).

One Foreign Director holding 5,000 Shares, Resident Director holding 1 Share personally attended the AGM on 30/09/2014.

Query

Please confirm, whether the AGM convened on 30/09/2014 with two Shareholders personally present is valid or not, as their shareholding is 5,000 Shares and 1 Share respectively.

Note: Proxy for another Foreign Director, whose holding is 4,999 Shares.

Your reply, please..............

Thanks in advance for possible replies from all concerned.

Can an additional director can be regularised in EGM?

We are working on an online marketplace for intagible services. We are planning to register the company. Over the time equity stakes have to be distributed over newly joined partners with expansion of company. Which one LLP or Limited company is better. Also wish to know the pros and cons regarding equity stake changes over passage of time

I from Madhya Pradesh and am incorporating a company by CA based in Delhi. He filed the papers with the RoC Gwalior and resubmission came on three points -

1. inc 8 & 9 required on 50 rs. stamp and stamp fees should be paid to M.P. State.

2. object should be as approve in inc-1

3. A.C. incorrect.

My Questions are as follows -

a) Regarding the 1st point I can get the stamps from MP but can they be notarised in Delhi?
b) In INC-1 there is only one line to provide the description how can I write all the objects in just one line?
c) A.C. incorrect - What is this? Does anybody know?

Please help its quite urgent.

Whether books of accounts of LO/BO/PO is to be maintained on accrual basis of accounting or cash basis of accounting? This query arises because there is no mention of this in section.

Kindly revert. Thanks in advance!