Please tell us the NIC code for NGO as Section 8 Company
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Hi Ask Members,
We have some companies who have approached us for filing of INC-20A, Declaration for Commencement of Business. As per Law, if the company does not file INC-20A within 6 months of incorporation, the concerned ROC can strike off the name of the company from the Register of Companies. Will filing of INC-20A after 6 months cause any issues later on and might attract strike-off notice from ROC?
Hi Ask Members,
I have one company that missed out to file SH-7 eForm since the last year 2020 Dec and so far there are a total of 3 SH-7 pending as of date.
What is the way to calculate additional fees as MCA only offers fees for the increased capital and unless we file the previous form, how to arrive at the fees of subsequent forms?
Please help if you have any experiences as such.
Hi Members,
Looking at the difficulties of entrepreneurs, GOI launched the Exemption under Angel Tax. Can somebody explain the procedure if any startup has secured an angel funding round and is there any limit of exemption?
Hi Everyone,
While filing eForm INC-24 and filling MGT-14 Form filing date, the error is showing as a java pop that
"Date should be less than or equal to system date".
Kindly help.
Hi Members,
As with the latest gazetted notification, professionals can form multidisciplinary firms for their practice. My question is what would be the name guidelines for forming such entities to go in the corporate format?
Hi CC Members,
According to you what are the best instruments for startup funding?
Dear CC Members,
I wish to know from you which instrument is most viable for a startup?
a) Equity Shares
b) Convertible Notes
c) CCPS
d) Any other
As per the Companies Act, 2013, an unlisted private company can issue debentures up to the limit of 10 crore rupees in a financial year without the requirement of obtaining prior approval from the Securities and Exchange Board of India (SEBI).
However, the company needs to comply with certain conditions and requirements prescribed under the Companies Act, 2013 and the rules made thereunder. These include obtaining the approval of the shareholders through a special resolution, maintaining a debenture redemption reserve, creating a charge on the assets of the company, appointing a debenture trustee, and filing the offer letter and other documents with the Registrar of Companies.
It is important to note that the limit of 10 crore rupees is applicable for each financial year, and any debenture issuance beyond this limit would require the prior approval of SEBI. The company must also ensure compliance with all applicable laws, regulations, and guidelines while issuing debentures.
Therefore, an unlisted private company can issue debentures up to 10 crore rupees in a financial year without seeking the approval of SEBI, subject to compliance with the applicable laws and regulations.