There is a company which is getting only interest and rental income. There is no income form operations. Can they sell/transfer the existing assets and pay off the liabilities and then use the fast track mode to exit the company

A company was incorporated in Jan, 2014 with Mr. A & Mr. B as directors. In May, 2014 it appointed Mr. C & Mr. D as additional director. In June, 2014 Mr. A & Mr. B resigned. Now, the company has left only with two ADDITIONAL directors (Mr. C & Mr. D) who shall hold the office only upto the date of next AGM. Now, the company intends to regularize their directorship before AGM by calling an EGM.

Now my question is that who shall digitally sign the DIR 12 form. Can additional directors sign the form (regularizing their directorship).

Hello expert, anyone please let me know that How I can assure that any partnership firm is registered under Partnership Act 1932 or Not???

What attachments are required for filling FormMGT 14 ? Whether mgt 14 is required to file along with annual filling to roc?

please guide us if director is himself majority shareholder, then what is the way to get the income out of profit made by company, without declaring dividend, as per companies act, 2013.

Dear Friends / Experts,


Please guide me on the following, IF POSSIBLE:

Query

What are the compliances for filing Form DIR-12 for regularization of Additional Director of Private Company, which is not a subsidiary of any company?


What are the documents required to be attached in Form DIR-12 for regularization of Additional Director of Private Company, which is not a subsidiary of any company?



Thanks in advance for possible reply from all concerned.

One of our company do not have any significant transaction, except transactions regarding ROC and Audit fee.

Management also not interested to continued with the company, and decided to close the company, as there are no possibilities to have any business in the company.

Kindly advice how shall I proceed, I mean shall I start the company closure procedure, or Covert the company into dormant company and later on close the company?

Any other suggestion also welcome..

Also please suggest the cost effective way.

Dear Members,
Need your advice on the following issues:

• As per section Sec 62 of the companies act 2013, shares should be issued to the existing shareholders through right issue only in the proportion of shares already held by them. If after the expiry of the time specified in the notice to issue shares, or on receipt of earlier intimation from the person to whom such notice is given that he declines to accept the shares offered, the Board of Directors may dispose of them in such manner which is not dis-advantageous to the shareholders and the company. In this context please clarify on the following:

1. Whether the right issue is to be made in the existing holding pattern only or it can vary?
2. Does this mean that the board can thereafter issue shares in any manner to any number of persons who may or may not be related to the existing shareholders?
3. Can the right given to a shareholder be renounced to any number of persons who may or may not be related to the existing shareholders?

• Section 62(1)(c ) mentions that shares can be issued to any person if authorized by a special resolution, whether or not that person is the existing shareholder or employees of the company. But the company need to comply with the conditions laid down under sec 42 related to private placement.
Then what is the difference between sec 42 and share issue under this section. Is there any relation provided here?

• Secondly if the company goes for the option of private placement of shares under sec 42 of the act
1. The section says that monies received on application under this section shall be kept in a separate bank account in a scheduled bank and shall not be utilised for any purpose, what if the money has already been received by the company for issue of shares even before making the offer for private placement
2. Rule 14 says that the value of offer should not be less than Rs 20,000 face value of investment. Does this include premium amount per share or just the face value?

Dear Sir,
If Company have an assets as on 1-04-2014,and the new Schedule of depreciation is applicable for the Company,but i have a doubt that how i will charge the depreciation, it means that calculate the depreciation on residule value as on 1/04/2014 as per new scheduled or it will calculate from the yeara ssest purchased as per new scheduled.

“SN & Co”, is a CA firm having Mr A, Mr B and Mr C are partners of the firm.

New CA Firm, “SN & Associates”, is formed on 10.01.2015 wherein Mr A and Mr D are partners

On 12.01.2015 Mr A Retired from SN & Co.


Presently “SN & Co”, is the Auditor of PQR Limited and Balance Sheet of PQR Limited was signed by Mr A for and on behalf of “SN & Co”for the year ended 31.03.2014.

“SN & Co” term expires as an auditor of the PQR Limited for the Financial Year 2016-2017.

Now, whether “SN & Associates”, is eligible to Appoint as an auditor of the PQR Limited for the for the Financial Year 2017-2018

Thanking you