I have one query under section 372A, One public company wants to provide loan to another company, but as per last audited balance sheet, company suffer losses and have debit balance in profit & loss account. Now my query is: For calculation of free reserves limits as per section 372A of the Act whether the losses in the profit and loss account need to be deducted or not. As per my understanding free reserves means those reserves which (as per the latest audited balance sheet), are free for distribution as dividend and hence debit balance in profit&loss account will not consider.

Please correct me, if i m wrong. I seek your valued suggestion on the above mentioned query.

Regards, CA Ashish Agarwal

A company paid to a landlord a sum of money for example 10 lakh to purchase his land. After few years dispute arise and repaid the advance with interest and compensation for example 15 lakhs.
how it should be accounted it in compliance with Revised Schedule?

pls tell in Form 32 categories - Promoter, Professional and Independent are there and whether Chairman, executive or non executive director is there.. how we can know whether the director to be appointed falls in which category as nothing is mentioned in the resolution appointing them as director?



thanks in advance to learned members

Hi,

If any company has not filed Form 20B, 23AC & 23ACA for FY: 11-12 (As SRN of old CA filing 23B is not available). Can it file above forms for FY: 12-13 first and then later (after some days) on for FY: 11-12.

Pl. can anyone guide for the above?

my elder brother want to open a new pvt. ltd. company having only one director n he is going to open a pharma marketing co. which deal in puchase medical product like tablet syrup drop or ingections etc. and market these product by his co. so tell me the procedure to register this co. and give me an estimate of the expenses while registration process n commencement of the company

what is the meaning of vanishing company?? please guide me

A private limited company desires to giva loans to others for execution of certian projects.The loans are of 7 to 10 years tenure.

Please clarify whether such activity is to be regidtered with RBI under NBFC category.We do not accept deposits.

Is there any exemption for holding subsidiary companies with respect to Section 297? Please quote relevant provision.

Thanks in advance!!

according to the new companies bill,2013, there is a provision is made on the appointment of statutory auditors of a company for the period of 5 years.when does the provisions of this section wil be applicable on the companies .if an auditor is appointed for the year 2013 so long a period he can remain in the company? please explain this procedure?

One of my client wants to appoint my firm as an statutory auditor of a Pvt Ltd Company for Financial Year 2012-13.

My query is;
1. What are the terms, conditions and procedure followed by new auditor as per companies act, 2013?

2. Can my firm be appointed as an auditor before 5 years tenure of the current auditor? Applicability of 5 yrs tenure would be levied on this appointment or not?


Pls suggest

Thanks