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
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??
What are the consequences of not regularizing Additional Director in Annual General Meeting. What can be solution to get rid of additional fee?
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?
Can anyone suggest me the documents for increase in capital contribution in LLP.
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.
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?
Is DPT-3 Applicable on OPC Companies Also?
Compliance Calendar LLP is Recognised as Startup by DIPP Under Ministry of Commerce & Industry, Government of India
As per section 197 of the Companies Act 2013
(1) The total managerial remuneration payable by a public company, to its Directors, including managing director and whole-time director, and its manager in respect of any financial year shall not exceed eleven per cent. of the net profits of that company for that financial year computed in the manner laid down in section 198 except that the remuneration of the Directors shall not be deducted from the gross profits:
Provided that the company in general meeting may, authorise the payment of remuneration exceeding eleven per cent. of the net profits of the company, subject to the provisions of Schedule V:
Provided further that, except with the approval of the company in general meeting,[By a special resolution],—
(i) the remuneration payable to any one managing director; or whole-time director or manager shall not exceed five per cent. of the net profits of the company and if there is more than one such director remuneration shall not exceed ten per cent. of the net profits to all such Directors and manager taken together;
(ii) the remuneration payable to Directors who are neither managing Directors nor whole-time Directors shall not exceed,—
(A) one per cent. of the net profits of the company, if there is a managing or whole-time director or manager;
(B) three per cent. of the net profits in any other case.
This section is specifically for the public companies and there is no particular section for the private companies. This implies that private companies can pay remuneration to the direcors in any such manner as they deem fit.
Therefore, the provisions related to remuneration to additional directors are different for private and public companies. There is no such restriction to pay remuneration to additional directors in the executive category.
Hence, a company can pay remuneration to additional director in the executive category.