Soma
19 April 2011 at 23:59
To foster better industrial relations, directors of AB. Ltd. agreed with its trade union to offer 1,000 shares of Rs. 100 each full paid up, to it employees and to receive amount thereon in ten equal installments of Rs. 10/- each.
Can the company make such an issue?
What is the legal provision is this regard?
Can any one help?
Anonymous
19 April 2011 at 23:30
Hi,
Could someone provide me with all or any of the following:-
(a) A draft application under Section 560(6) of Companies Act for reviving a company whose name has been struck off by the registrar.
(b) Details regarding jurisdiction of the court in which such application would be made, when the registered office of the company was in Ghaziabad (U.P.).
(c) Details regarding Court fees for such application in such court.
Thanks
Anonymous
18 April 2011 at 13:33
I want to know if excess amount of tax paid can be utilized in the subsequent period at the end of a financial year
sujit kumar pradhan
17 April 2011 at 11:45
from what date limitation started ? 1)NPAdate 2)publc auction date 3)date of a/c closure by deducting security lodged.
Anonymous
14 April 2011 at 22:17
A non-profit charitable trust is engaged in providing housing needs to a particular class of society.
This trust founded by 08 members is registered as a Company as per section 60 of the Companies act.
The so called company makes several several false promises in the prospectus, due to which buyers get allured to enter in a contract of sale/purchase of property.
Subsequently, promises made in the Prospectus turn out to be false.
As the company is not able to furnish proofs of the promises, buyer asks seller to compensate him with regard to the false promises made by him.
Company against the wishes of the buyer, deposits money in the buyer's bank account after making deduction of Rs 5000/-, causing Breach unilaterally.
Can the company be held Criminally liable for the false promises, made in the prospectus?
FIR has been lodged for Cheating.
Is Company Criminally liable for making misrepresentation/false promises, if the facts are proved?
Anonymous
14 April 2011 at 21:49
Fema Circular 120 requires that an india company
"
submit to the Reserve Bank every year within 60 days from the date of expiry of the statutory period as prescribed by the respective laws of the host country for finalisation of the audited accounts of the Joint Venture/Wholly Owned Subsidiary outside India or such further period as may be allowed by Reserve Bank, an annual performance report in form APR in respect of each Joint Venture or Wholly Owned Subsidiary "
This submission of APR is filled with Authorised Dealer Bank who in turn files the same with RBI online.
The bank demands the Audited Accounts of the subsidary.
My question is what happens if the host country do not require the accounts to be audited?
For example - USA .
Does USA has an equvalent of an ROC?
Who is the competent authority to certify that a company does not require an audit?
Thanks
Anonymous
07 April 2011 at 21:45
The LLP Act 2008 has created a hybrid incorporating features of a partnership (limited liability) and a company (regulatory oversight).
The LLP can do any business allowed by law. My question. Is an LLP allowed to do leasing or hire purchase business? A partnership is allowed. A company has certain restrictions. Also can an LLP simultaneously be registered as a a section 25 company?
Anonymous
07 April 2011 at 15:34
A Private Company is incorporating the subsidiary company. The project cost is 5 crore, but the promoters do not want have paid up capital as 5 crore. And they are planning to issue 5% of the initial paid up capital to one of the first directors (A) under ESOP/ Sweat Equity Plan over the period of three years i.e, 1.67% at the end of each year.
Can a company issue the shares at premium for the first allotment?
Please guide me to structure the capital of the Company, and what will be share of the promoter Company and the director A (Remember Company wants Rs. 5 crore for its project). Its urgent, please help me out
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Recovery from directors for company dues to Electricity Supply Companies
Pubic Sector Electricity supply company has a claim from a company in MP for minimum charges for over a year which are disputed by the company due to rejection of relief under force majeure clause.
The company is now left with no assets as factory has been transferred and under Power supply code, SupplyCom is barred from demanding these dues from new owner who leased land from govt specifically.
Now, SupplyCom is also armed with powers of Tehsildar under Land Revenue Code 1959 (Madhya pradesh) who has given notice u/s 146 to two directors personally for recovery.
I believe that company dues cannot be recovered from directors personally unless there is a specific law to that effect (because company is a separate entity from directors and this does not change even if demand is from a government company).
Kindly advise if the Tehsildar could really proceed against the directors or their private property?
Situation is in Madhya Pradesh