Yes its Rightly mentioned.
Yes, a private limited company can hold a general meeting by giving notice of less than 21 days. As per Section 96(2) of the Companies Act, 2013, a general meeting of a company may be called by giving not less than clear twenty-one days' notice either in writing or through electronic mode.
However, as per Section 101(1) of the Companies Act, 2013, a general meeting of a company may be called after giving shorter notice than that specified in Section 96(2), if consent is given in writing or by electronic mode by not less than 95% of the members entitled to vote at such a meeting.
Therefore, if consent is obtained from not less than 95% of the members entitled to vote at the general meeting, a private limited company may hold a general meeting by giving notice of less than 21 days. However, in the absence of such consent, the company must give at least 21 days' notice before holding a general meeting.
An illiterate person wants to become a subscriber, how can he sign as a subscriber to the Memorandum of Association?Click here to view / answer Share it on
Share the draft formats for ESOP - employee investment in the company.
And also need a clarification that, should it required to take share valuation report from registered valuer and Income tax merchant Bank both or how?
I have seen , Many company are showing their website on letter head but not doing the compliances related disclosures on website which is mandatory such as :
Website address on all its official publications like business letter heads, billheads, and notices and other documents etc.
-The notice of “Change of objects for which money is raised through prospectus” under Rule 32 shall be published on the website;
-Details of Annual Return; (Important to note generally applicable on Companies )
-Details of Vigil Mechanism;
-CSR and Company’s policy on director’s appointment and remuneration;
-Terms and Conditions of the Independent Director;
-Closure of register of members or debenture holders;
-Notice of General Meeting including AGM;(Important to note generally applicable on Companies )
-Notice of Voting through electronic means;
-Notice of Postal Ballot;
-Special Notice, if any;
-Striking Off of the name of the company details; (Important to note generally applicable on Companies )
-Unpaid Dividend Details;
-Invitation of Deposits;
-Resignation of Director details, if any. (Important to note generally applicable on Companies )
As per Section 450 of the Companies Act of 2013, the penalty for non-compliance by the company or any officer of the company who defaults to any of the Act’s provisions will be Rs 10,000.
For continuing contravention, it will be a further fine of Rs 1,000 for every day of default. This will apply to the default of non-disclosure, a company must take care of publishing all relevant information on the website.
Can anyone suggest if any company having website but not active or able to control like no full time IT Professional for assisting website, then in that case also its applicable ?
we know that Annual return on Foreign Liabilities and Assets has been notified under FEMA 1999 and it is required to be submitted by all the India resident companies which have received FDI and/ or made overseas investment in any of the previous year(s), including current year by July 15 every year. Non-filing of the return before due date will be treated as a violation of FEMA and penalty clause may be invoked for violation of FEMA.
The annual return on Foreign Liabilities and Assets (FLA) is required to be submitted directly by all the Indian companies which have received FDI (foreign direct investment) and/or made FDI abroad (i.e. overseas investment) in the previous year(s) including the current year i.e. who holds foreign Assets or Liabilities in their Balance Sheets.
Earlier we had to file in Excel based FLA return and that should be sent by email by 15 July. Any other attachment should not be forwarded along with the FLA return but now its totally online and need to file through flair Portal RBI;
The format is available on https://flair.rbi.org.in However, the format and email-based reporting system has been replaced by the web-based formats for submission of annual FLA return from June 2019 (i.e., reporting from the 2018-19 round of FLA). In this web-based reporting system of FLA, entities first need to create business-user through “Entity-User Registration form”.
But someone having, Share the Word / Excel file of FLA Return format, so that the relevant data or details can be obtained from the Company before filing the final return at FLAIR Portal.
KMP of holding company be appointed in only one subsidiary or in all subsidiaries of holding company at the same time please clear.Click here to view / answer Share it on
Company Secretary Required to attend all Board Meetings, Committee and General Meetings of the Companies ?Click here to view / answer Share it on
If any group Company (private limited company) wants to give or provide corporate guarantee and equitable mortgage of its property in favour of its holding public limited company, is it possible to give the same.
What if both the companies are private limited companies and what are the compliances need to be done ?
As per, Companies (Acceptance of Deposits) Amendment Rules, 2019 on 22nd January 2019 to further amend the Companies (Acceptance of Deposits) Rules, 2014:
Following transactions are enlisted in Rule 2(1)(c) which required one time Reporting in DPT-3
Rule 2(1)(c) defines the term ‘deposit’ in an exclusive manner and enlists 19 transactions which are not treated as deposits. Below is the list of the items that are excluded from the term ‘deposit’ subject to the conditions/ exceptions mentioned thereunder-
a. Amount received from central government, state government etc;
b. Amount received from foreign governments/ banks etc;
c. Amount received as loan from banks, banking companies etc;
d. Amount received as loan from Private Finance institutions (PFIs), any regional Financial Institutions or insurance companies or scheduled banks;
e. Amount raised through issuance of commercial paper;
f. Inter- corporate deposits;
g. Amount received as subscription money for securities pending allotment;
h. Amount received from directors/ relative of directors in case of a private company;
i. Amount raised by issue of secured bonds/ debentures;
j. Amount raised through issuance of unsecured listed NCDs;
k. Non-interest bearing security deposit received from employees;
l. Non-interest bearing amount held in trust;
m. Advance from customers;
n. Amount brought by the promoters;
o. Any amount accepted by a Nidhi;
p. Any amount received by way of subscription in respect of a chit;
q. Any amount received by the company under any collective investment scheme;
r. Amount received by start- up company by way of convertible note;
s. Amount received from Alternate Investment Funds (AIFs), venture capital funds (VCFs) real estate investment trusts (REITs) etc.
Here in our case, A company conducted an activity, the merchandise cost for the same was reimbursed by the Ministry of Tourism, Government of India.
As per the Companies Act, 2013 any amount received from the Central or State Government or Statutory authority is an exempted deposit and DPT-3 has to be filed Right ?
1Applicable on All companies (whether Private or Public or OPC etc.) except Government Companies are required to file form DPT-3.
Kindly share your views for the same on above cited Query for filing of DPT-3
Compliance Calendar LLP is Recognised as Startup by DIPP Under Ministry of Commerce & Industry, Government of India
As per section 101(1) of the Companies Act, 2013, a company can call a
general meeting by giving notice of twenty-one clear working days either
in writing or through electronic mode. However, in case of private companies, section 101 shall apply unless otherwise specified in respective sections or the articles of association of the company provide otherwise. Thus, a private limited company can hold a general meeting by giving notice of less than 21
days if the articles of the private company so provide.
Conslusion: If the articles provides a period of less than 21 days then such period shall apply instead of 21 days.