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

Dear experts
one new shareholder want to replace the earlier shareholder by paying to the company share application money and further company will pay to the existing shareholder for the shares allotted to him .Have company to follow some procedure for this change if possible.

Dear Experts,

please advice in government company the govt nominate directors but one of the director refuse to give consent stating that we are just following directions we should neither give consent nor resignation. But without consent we are not able to file DIR 12 for his appointment . is there any option or what should we do

Hi,

I would like to know if a company with its name as xyz solutions carry out the business of Builder and placement consulting and also finance under this name. If not then do we need to just change the MOA activities or need to register three different companies

Dear Sir/Mam,
I want to ask that whether a private limited company having 2 directors can appoint a new director during the year by passing board resolution with holding any kind of general meeting.
Its urgent.
Thanks in advance

Dear All

Can anyone please provide the board resolution format for selling investments constituting 5% of paid up capital and free reserves of the investee company.

Thanks

Hello,
We have a client. There are four private Companies whose directors are interested parties in all four Companies(i.e. directors in all 4). The purchase & sale transaction between two of these companies requires Board approval as per Sec 188. But since interested parties cannot participate this is not possible. There are also some other shareholders apart from these directors. But approval through general meeting is also difficult since the other shareholders are unable to attend the meeting in any case due to some reasons. So how can we comply with the section 188. Please suggest me the solution for this.