company finance micro section
Hi Everyone,
Will the following person is considered as a Related Party in a Private Company:
1. Private Trust who is a shareholder of the Pvt Company
2. Public Trust who is a shareholder of the Pvt Company
transaction party related
Dear All,
Kindly explain if the auditor of the company has resigned and if we have also appointed a new auditor in EGM and also has filed ADT-1, then
1. in next AGM, do we require to file ADT-1 again after ratification??
2. From where the tenure of 5 years shall start: from the year of EGM or from the year of AGM??
Dear all,
What are the consequences of not regularizing Additional Director in Annual General Meeting. What can be solution to get rid of additional fee?
director additional regularization
Hi,
Company A is a Public Limited registered on 2019, with 7 share holders out of which 3 are promoters. As per the requirements the Company take ISIN and demated the shares of 4 share holders (promoters and directors). Further the company has increased capital and allotted new shares and added new shareholders too. The initial subscriber (3) shareholders holding less than 1% is not open demat account and not complied with the procedures even after follow-ups and they were not responding to companies communications. What are your thoughts? whether its a mis compliance if 100% shares are demated? Is there any ways available to forfeit that shares? Or to transfer to IEPF?
minority shareholders response demat conversion shares deal
Dear Professionals,
Can anyone suggest me the documents for increase in capital contribution in LLP.
Dear Members,
The Number of Directors fall below 5 in producer co due to death of 1 director & company has appointed another due to this vacancy after 6 month is this amount noncompliance?
As per AOA the minimum requirement for director is 5.
Dear Professionals,
Being a PCS before affixing DSC of any Promoter on any Form under Companies Act. is it mandatory to take written Authority Letter for the same?
Thanks,
affixing
Dear Professionals,
Is DPT-3 Applicable on OPC Companies Also?
Thanks
applicability 
Sec. 8 Companies can’t incorporate or amend Object Clause to include microfinance activities.
A Section 8 Company is a company formed under the Companies Act, 2013 with the primary purpose to promote non-profit objectives such as trade, commerce, arts, charity, education, religion, environment protection, social welfare, sports research, etc. However, it cannot be formed for carrying on micro-finance activities.
Owing to the nature of activities carried by the Section 8 Companies, they have been provided several exemptions and relaxations from complying with the provisions of the act.
Once such relaxation is that the Sec. 8 company is not required to comply with the stringent criteria of “Net Owned Funds” as prescribed by RBI.
MCA has observed a market wide-practice that was being followed to amend the main object of the Sec 8 company to include micro-finance activities. Companies were being incorporated without including micro-finance activities in main objects and later main objects were amended for inclusion of micro-finance activities by altering MOA.
Thus, to curb this practice, MCA has directed the ROCs not to accept such applications for incorporation of Section 8 company or amending its main object, where it proposes Micro-finance activities as its main activities.