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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Required drafts formats for First Board Meeting Agenda, Notes of Agenda and Minutes Format.
Please share as per SS-1 & SS-2 Applicability
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 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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Nidhi companies are regulated under the Companies Act, 2013 and the Nidhi Rules, 2014. Converting a Nidhi company to another form of company, such as a private limited company, requires following certain procedures and obtaining necessary approvals. The process for converting a Nidhi company is as follows:
Hold a board meeting: The first step is to convene a board meeting and pass a resolution for conversion of the Nidhi company into a private limited company. The board must approve the conversion and authorize the filing of necessary documents with the Registrar of Companies.
Obtain approval from members: The company must obtain approval from its members through a special resolution passed in a general meeting. The notice for the meeting should mention the purpose of the meeting and provide details of the proposed conversion.
File necessary forms with the Registrar of Companies: After obtaining approval from members, the company must file necessary forms with the Registrar of Companies, including Form MGT-14 for approval of the special resolution and Form INC-27 for conversion of the Nidhi company into a private limited company.
Obtain fresh certificate of incorporation: The Registrar of Companies will review the forms and documents submitted by the company and issue a fresh certificate of incorporation upon satisfaction that all requirements have been met. The company must also obtain a new PAN and TAN.
Comply with other legal requirements: After obtaining the fresh certificate of incorporation, the company must comply with other legal requirements applicable to private limited companies, including maintenance of statutory registers, appointment of directors, and compliance with various laws and regulations.
It is advisable to consult with a professional such as a company secretary or a chartered accountant to ensure compliance with all legal requirements and to smoothly complete the conversion process.