Kapil Kumar Singh Adv
This Query has 3 replies

This Query has 3 replies

It says
" the remuneration payable to any One MD or WTD or manager
shall not exceed 5 percent of the net profits of the company
and
if there is more than ONE SUCH DIRECTOR remuneration shall not exceed ten percent of the net profits to all such directors and manager taken together "

My INTERPRETATION IS ----

when in the latter part of Sec it says " if there is more than one such director " -- it is referring only to MD or WTD And Not Manager .

But in all the books it says " if there is more than one MD or WTD or Manager " -- which in my opinion is NOT Correct .

And my interpretation is also supported by last few words of the Sec " ....to all Such DirectorS and Manager Taken Together "

Here SUCH DIRECTORS means MD or WTD and NOT MANAGER ,

Moreover the word Director is used in Plural tense and not Manager .

Again i am doing hair spliting But i want correct interpretation

Thanks


DHARMIK VORA
This Query has 1 replies

This Query has 1 replies

21 January 2020 at 00:06

Object of Cab Service for e-moa

Can Someone Provide me Object Clause Format for Cab Service.


Kapil Kumar Singh Adv
This Query has 2 replies

This Query has 2 replies

......but as between persons who became directors on the same day ,
those who are to retire shall ,
in default of and subject to any agreement among themselves ,
be determined by lot.

My question is that " be determined by lot " applies to

" in default Of "

or " subject to any agreement among themselves "

or both .

My interpretation is this that " be determined by lot " applies to both i.e.

-- in default of any agreement among themselves ,be determined by lot

--- subject to any agreement among themselves , be determined by lot

Because the word used in between " in default of " " subject to " is AND .

Most of the authors / teachers say that

-- "those who are to retire shall , in default of any agreement among themselves. be determined by lots "

---"those who are to retire shall , be determined as per the agreement among themselves '

which in my opinion is not correct


Please interpret the section and express your views on this interpretation

Thanks







Kapil Kumar Singh Adv
This Query has 5 replies

This Query has 5 replies

......but as between persons who became directors on the same day ,
those who are to retire shall ,
in default of and subject to any agreement among themselves ,
be determined by lot.

My question is that " be determined by lot " applies to

" in default Of "

or " subject to any agreement among themselves "

or both .

My interpretation is this that " be determined by lot " applies to both i.e.

-- in default of any agreement among themselves ,be determined by lot

--- subject to any agreement among themselves , be determined by lot

Because the word used in between " in default of " " subject to " is AND .

Most of the authors / teachers say that

-- "those who are to retire shall , in default of any agreement among themselves. be determined by lots "

---"those who are to retire shall , be determined as per the agreement among themselves '

which in my opinion is not correct


Please interpret the section and express your views on this interpretation

Thanks







Dheeraz Satsangi
This Query has 1 replies

This Query has 1 replies

16 January 2020 at 18:34

In our company we are planning to employ

1. In our company we are planning to employ Consultants and Self Employed Professionals. I want to know what kind of acts are applicable on this. I want to know about Agreeement, Billing, TDS, ITR for Professionals. Maximum Billing should be <6 LPA.


Swapnil Jain
This Query has 3 replies

This Query has 3 replies

16 January 2020 at 08:18

Number of partners in LLP

I am curious to understand what happens if only one partner remains in LLP. Rest all partners are retired for summer or the other reasons


Manisha Jain
This Query has 3 replies

This Query has 3 replies

A COMPANY FORMED 8 YEARS AGO HAS BEEN INOPERATIVE SINCE APRIL 2019. IT HAS UNSECURED LOAN AND ASSETS. CAN THE COMPANY BE STRIKE OFF . IF YES, WHAT PROCEDURE AND ATTACHMENTS WILL BE REQUIRED. PLZ CAN ANY ONYONE HELP ... REPLY AT THE EARLIEST


Rajeshree Desai
This Query has 1 replies

This Query has 1 replies

As per Rule 4 of The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, a company cannot pay sitting fees more than 1 lakh, which is corresponding provision to Section 197(5). Further, as per section 196(4), a private limited company is exempted from adhering to the provisions of Section 197 & Schedule V for providing remuneration to its directors, then how is suddenly Section 197(5) gets applicable to private limited company? Also, the starting statement of Section 197 is "The total managerial remuneration payable by a public company" and then all other subsections are in connection with the initial sub-section, then how Sub-section 5, out of nowhere, gets applicable to private company?

This was my understanding over sitting fees payable to a private limited company. I need to understand other expert's view in this regard, with interpretation method and supportings.


Rishabh Srivastava
This Query has 1 replies

This Query has 1 replies

08 January 2020 at 08:43

Section 16(b) of Companies Act

Is their any prescribed form for application by registered trademark owner ? If not what is RD-1 Form is for ? Also what is government fees for such representation. Can it be done online.


neha mathukiya
This Query has 1 replies

This Query has 1 replies

02 January 2020 at 18:49

Conversion of Firm into Pvt. Ltd.

What is the process of conversion of partnership firm into PVt. Ltd. Co. Please explain the same step wise and form required to be filled in ROC.






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