I have a query related to Share Transfer- Kindly advice me on this.

There's a Pvt ltd co with 3 directors cum shareholders with ratio of 60:35:5. (Let's say A:B:C)

Now, B&C will go out and transfer 35+5 (total 40) percent shareholding towards new Director cum shareholder Mr. D and A will continue at 60percent.

To do this,

1. Should Incoming Director be taken on board first as additional director and ratify in the agm and then should the transfer take place?
2. Can we have transfer of shares to Mr. D even before he is taken on board and then follow additional director procedure
3. Does Issue of Right Shares or Private Placement come into picture here.

Kindly suggest me the best way to tackle the situation.

Considering the current situation of lockdown due to Covid-19, fixed assets purchased by the company will not be in use for a specific period of time (for 21 days as of now starting from 25th March'20.

Can we still claim depreciation in books as well as for tax purposes?

Or Can we defer the depreciation amount for the number of days during which the asset was not put in use.

Will the clause of obsolescence be applicable even during this phase?

Ours is a private limited company. We want to change our Tax Auditors - CA for the AY 2020-21. What is the procedure & How much time it will take.

2) Shall it make any difference, if we do it now, or we do in April 2020.

Sir/Madam My query is if 2 individuals are shareholders of a private limited company holding 49% and 51% shares and are also directors of the same Company Will they be treated as Significant Beneficial Owner and Will the Company file BEN-2.

Thanks in Advance

Dear Sir / Madam,

one of my client has a taken an OD of Rs 30 lakhs, however, they have not done charge registration with Roc already it's beyond 300 days, now whats is the best solution to the client, the banker is repeatedly informing to do charge registration at any cost,
please guide us.

I have one company just register 2 weeks before, now i need to transfer it to my wife, and it is said need valuation ceritification from CA, is this neccessary or i can use face value directly which is sign by director?

Is it possible is board meeting scheduled for 25th August and meeting was started for approval of financial statement , meantime standalone was approved by the directors but consolidated was not presented , so the meeting was adjourned and scheduled for 26th August. So in this situation will this will counted two board meeting or one adjourned board meeting

Hi,

We have a cash credit with HDFC bank which is secured against Fixed Deposits and book debts. The HDFC has created two line items with MCA and they are stating "Charge is based on security : its different for book debts and FD . so your total charge is limited to given limits only . " But I am claming this is wrong because it is showing two times , hence it looks the limit is double.

Please let me know is the bank correct
Regards
Nagamani

A shareholder of private company want to transfer shares at face value, what will be its implication and such transfer is possible?

As per companies act 2013 standalone financial statement and consolidated financial statement of company can be approved in one board of director meeting