QUALIFICATION SHARE
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 July 2010
One of our directors failed to obtain qualification share within the specified limit as per articles of association?
28 July 2010
a) According to sec 272 ,he shall be liable to fine upto R. 500 for everyday until he stops acting as director.
b) According to section 283(2a) a further penalty of Rs 5000 for each day
c) He will automatically vacate the office u/s 283(1)(a)
a) According to sec 272 ,he shall be liable to fine upto R. 500 for everyday until he stops acting as director.
b) According to section 283(2a) a further penalty of Rs 5000 for each day
c) He will automatically vacate the office u/s 283(1)(a)
28 July 2010
Consequences are correctly mentioned by experts.
However no need to worry coz u hv 2 options to rectified the positions:
1. Make a back dated allotment of eq. shares.
2. Execute transfer of shares in the back date in favour of new director.
3. You may also execute gift of shares in favour of new director.
Regards
However no need to worry coz u hv 2 options to rectified the positions:
1. Make a back dated allotment of eq. shares.
2. Execute transfer of shares in the back date in favour of new director.
3. You may also execute gift of shares in favour of new director.
Regards
28 July 2010
YES, THIS CAN ALSO BE DONE.
THANX FOR MENTIONING THE REMIDIES.
THANX FOR MENTIONING THE REMIDIES.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITDS U/S.194T of Firm
- Difference between Date of Payment and Date of Deduction?
- Unregistered suppliers utility
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- TDS AND ITR ISSUE
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- EXPORT COMMERCIAL INVOICE HSN CODE
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
