i have a query that in case a private limited received share application money and which was not refunded within a stipulated time ,Accordingly will be treated as deposit under the companies act.
Now company wants to refund money.
can company write off the same money or any other mode of refund?
please give me answer.
thank in advance
Dear all ,
1) Can Independent Director be directly appointed in the AGM , without appointing him as additional director .?
2) if yes , the resolution will be ordinary or special ?
please suggest and also share the draft resolution to be placed at agm
Compnay has provided Employee bonus of Rs.1.5Cr last year but in current year due to lack of profitability it providing bonus of Rs.20 Lakh only as statutory required under bonus act. whether we can say it as change in estimates As per AS-4 or need to disclose under Auditor's report ?
A company has taken loan of (overdraft facilaity of Rs.1.50 Crores from Bank for development of Business of the company and further Loan of 1 Crore for development of House property of the Directors of the Company) The loans are personally guaranteed by the Directors and the document of House property has been offered as Collateral. Now the Directors have spent about 50 Lakhs in addition to sanctioned limits towards Improvement of House Property. How to account for it in the Books of account? Will the loan amount to advance taken by Directors of the company? Can we treat the amount spent from business as capital investment made by Company and retain it as an asset in the Balance sheet of the Company? Please clarify.