Dear Learned Professionals,

Please suggest me how to resolve the below case

'the company has taken huge loans from the relatives of the Directors. The company's position is not good enough to repay the loan amount. How can we clear this amount

a) Can it go for private placement of shares for clearing the loan amount.?

b) Can we show it as share application money pending for allotment.?

Please suggest if you have any other alternative solution for this.

Thank you,

Ganapati Ghatti

Sir,

Whether total monetary value of obligation of contribution in case of LLP includes Current capital accounts of the partners ??

Eg.

Authorized Contribution (total monetary value of obligation of contribution) of the LLP is Rs. 100000/-

in addition to this LLP also shown Rs. 50000/- as current capital account of partners??


whether LLP can have current capital of partners in addition to authorised contribution??

Please let me know whether a customer given a advance towards purchase of Jewelllery to a Jewellery Shop ( Pvt Ltd Co)but after one year the said customer has not taken delivery of the ornament as a result the advance is still lying in the books of company. Whether the advance will treated as deposit under new companies Act or it will treated as advance against property.

Clause 35(c) requires a company to report - "change exceeding +/-2% of the total paid-up share capital".

However, from the language of Rule 13 of Companies Management and Administration Rules it is not clear whether the change to be reported is "2% of paid up share capital" or "2% of individual shareholding of the respective promoter / top shareholder".

Request comments / guidance of experts/ senior professionals in the matter please.

if we are taking loan for purchase of a vehicle then is this bis mandatory to file the charge creation form with ROC please reply.

DOES EVERY LISTED COMPANY HAVE TO APPOINT SECRETARIAL AUDITOR OR NOT

Dear Sirs,

A company was incorporated in May 2013.
What process should it follow for appointing first auditor?
Pl explain as i am unclear regarding concept of first auditor
Which forms does it need to file with ROC.?

My company was incorporated in 2004 but we have not filed any Annual filing in ROC since 2006, but we want to file all annual filing from default and our company's status showing dormant on mca site but when we are filing form GNL-2,(for CG approval)in Director's signatory detail an error showing " "The company is in defaulting of filing of form DIN3/Form DIR12" so that we are unable to file above mention form.can any one tell me what should i do?

The returns of the company has not been filed from AY 2003-04. Hence, according to the MCA website its a DORMANT Company.

While tryin to file GNL-1 , to change the status of the company from DORMANT to ACTIVE , an error arises sayin that :

"Signature validation failed for Signature field for
Authorized Representative/ Director/ Manager/ Managing Director/ Others/ Secretary. The person is not authorised to sign on this field."

Reply received from the MCA website was Regarding this error was :

"The DSC of the Director is already registered. The DIN was applied when the company was dormant so the same has not been linked to the particular Company as its Director. '

To update the same, there was a form DIN-3 which is been disabled now.
Is there any other way how we can resolve the same?
Or is there any other form equivalent to DIN-3?

The reply from MCA website also stated that -
"Kindly note that as per MCA records there is no signatory of the company, Contact the concerned RoC to add the signatory added from the BO Portal."

And when approached to the ROC, he told that there is no such provision in the law to add the signatory details.

Is there any provision in the law that the ROC has to do the same?

Or, is there any way we can file form GNL-1 ?

I want to apply for DIN where middle name of director is abbrivation as J appearing as per PAN Record , but as per PAN data base full name as Jaivirsingh , so error is coming as not matching with PAN, pl. know me whether any affidavit will require ? if yes can you please provide me format for the same.

Thanks in advance