Can a private company accept deposits/ loans from its employees repayable on demand at an interest rate of 12%? If so, what compliance are to be made by the private company. The borrowings will be within the permissible limits.(10% of Equity & free reserve)
Request an early response pl
my query is there is a Pvt. ltd. company which was incorporated on 7th july 2015 & has not appointed auditor yet. to the best extend of my knowledge directors have to appoint auditor within 1 month from incorporation of company (i.e. 7th aug 15) and if they don't appoint then shareholders within 90 days in AGM i.e. upto 7th nov 15 can appoint auditor. but till date same period is also laps.
Dear Sir, Please clarify wheather SS 1 is applicable in CA exams. There is confusion as some authors are giving answers as per SS1 & some wont. Pracitce Manual issued by ICAI is also not giving answer as per SS1 Thanks in advance.
Dear professional colleagues,
I would be grateful if anyone can share the draft board resolution for taking note of nomination of shares in form SH 13.
A Pvt. Ltd. company strike off by ROC us Sec 248. what will be process for distribution of its assets and transfer the right of properties from company name to share holders name.
Dear Sir/ Madam,
A private limited company has issued 700000 non cumulative redeemable preference shares of Rs. 100/- each at a premium of Rs. 400/- in 2012.
1. The redemption period was not mentioned. Whether the redemption can be made in part, i.e. redemption not of entire 700000 shares but only 200000 shares?
2. As it was issued on premium, can we redeem it at par, i.e. at Rs. 100?