An Indian Pvt Ltd co. engaged in certain services classified under export of services under GST.
The company received advance worth 2cr from an overseas customer in March 2020 in USD in their bank account as advance against the travel-based services to be provided. From March 2020 the international travel ceased so, the company has not provided any services for last two years to the said client.
The issue : How will the above advance be treated under section 73 and Deposit rules.
-Whether it falls under Public Deposit/Loan
-Whereas it's simply a business advance against services to be provided in future but outstanding for more than 365 days.
-What options the company has to not the same be treated as deposit/loan.
Please give resolutions
under services export classified certain Procedure to be followed for shifting of registered office within the same Special Economic Zone area. it will be within state compliances or what ?
Click here to view / answer Share it onoffice registered shifting Share the procedure for registration and other compliances if any needs to be done.
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Company will be considered as Public company since where a company being a private company alters its articles in such a manner that they no longer include the restrictions and limitations which are required to be included in the articles of a private company under this Act, the company shall, as from the date of such alteration, cease to be a private company.
Name Change will be effective from the date of COI or EGM ?
Company incorporated in 2019, company does not file INC-20A within 6 months of incorporation and failed to commence its business. MCA Strike Off the company , but my question is directors will be considered as disqualified ?
Presently directors DIN is active and they want to incorporate a new Company , so is it possible ? Please give light on my query
filing struck case disqualification directors
Which sections of the Companies Act applicable or having exemption for NBFC Companies in regard to loan, investment and borrowings ?
nbfc compliances
share procedure for Conversion of Nidhi company to Private Limited
CHG-8 Filed through new MCA portal and the status of the same is got Approved - Pending for payment and the cost is reflecting Zero on the portal but haven't received a copy of the order yet for the approved form.
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Sure, here are the required draft formats for the First Board Meeting Agenda, Notes of Agenda, and Minutes as per Secretarial Standard 1 (SS-1) and Secretarial Standard 2 (SS-2):
First Board Meeting Agenda:
[Letterhead of the Company]
[Date]
Notice of the Board Meeting
Dear Directors,
A meeting of the Board of Directors of [Company Name] will be held on [Date] at [Time] at the registered office of the company situated at [Address], to transact the following business:
To take note of the Certificate of Incorporation, the Memorandum of Association, and the Articles of Association of the Company.
To consider and approve the appointment of the Chairman of the Board of Directors.
To consider and approve the appointment of the Managing Director, if any.
To consider and approve the opening of a bank account in the name of the company.
To consider and approve the appointment of Statutory Auditor of the Company.
To consider and approve the appointment of Internal Auditor of the Company.
To consider and approve the appointment of Company Secretary of the Company.
To consider and approve the draft Annual Calendar of the Board Meetings and Committee Meetings for the financial year [Year].
Any other business with the permission of the Chair.
The Directors are requested to make it convenient to attend the meeting.
By order of the Board of Directors,
[Name of the Director] Director
DIN: [DIN number]
Place: [Place]
Date: [Date]
Notes of Agenda:
[Letterhead of the Company]
[Date]
Notes of the Agenda
A meeting of the Board of Directors of [Company Name] was held on [Date] at [Time] at the registered office of the company situated at [Address], to transact the following business:
The Chairman of the Board of Directors was appointed.
[Name of the Managing Director], was appointed as the Managing Director of the Company.
The Board of Directors approved the opening of a bank account in the name of the Company.
The Statutory Auditor of the Company was appointed.
The Internal Auditor of the Company was appointed.
The Company Secretary of the Company was appointed.
The draft Annual Calendar of the Board Meetings and Committee Meetings for the financial year [Year] was considered and approved.
Any other business with the permission of the Chair.
The meeting concluded with a vote of thanks to the Chair.
By order of the Board of Directors,
[Name of the Director]
Director
DIN: [DIN number]
Place: [Place]
Date: [Date]
Minutes Format:
[Letterhead of the Company]
[Date]
Minutes of the Board Meeting
A meeting of the Board of Directors of [Company Name] was held on [Date] at [Time] at the registered office of the company situated at [Address].
Present:
Apologies were received from [Name of the Director] who was unable to attend the meeting.
The Chairman welcomed the Directors and declared the meeting open.
The following business was transacted:
The Certificate of Incorporation, the Memorandum of Association, and the Articles of Association of the Company were noted.
[Name of the Managing Director], was appointed as the Managing Director of the Company.
The Board of Directors approved the opening of a bank account in the name of the Company.
The Statutory Auditor of the Company was appointed.
The Internal Auditor of the Company was appointed.