companies section
Have you taken the necessary steps to establish the director's account on the MCA (Ministry of Corporate Affairs) website as a Business User? Follow these steps to ensure a smooth process:
Step 1:Start by registering your Director as an authorized representative of the company within the Business User section of the MCA V3 portal.
Step 2:Next, proceed to register the Digital Signature Certificate (DSC) of the authorized representative under the 'associate DSC' category within FO (Front Office) services.
Step 3:To update the email address and mobile number associated with the Director's DIN (Director Identification Number), file Form DIR3KYC.
Step 4:In the Profile Update section, add the user role as "Director" and provide the relevant DIN. This will prompt the system to send OTPs (One-Time Passwords) to the email address and mobile number updated during Step 3.
By diligently following these steps, you can address your concern effectively. We are optimistic that this sequence of actions will lead to a resolution of your issue.
what is the process of Micro finance company registration, whether it needs RBI Approval being a NBFC, only own would be used for micro financing
Click here to view / answer Share it onregistration company finance micro Can a director take advance salary from the private limited company equal to six months salary? Do we need to any specific compliance for the same in mca?
Click here to view / answer Share it onAn 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 onsubscriber person illiterate As per sub-section (1) of section 101 of Companies Act, 2013, a company can call a general meeting by giving notice of twenty one clear working days notice either in writing or through electronic mode. Refer to Notification No. GSR 464(E) dated 5-6-2015 (Exemption to Private Company), 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. so private limited company can hold a general meeting by giving notice of less than 21 days if the articles of the private company so provides ?
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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?
esop formats drafts requirement
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 ?
companies disclosures mandatory website having
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.
Dear Ma'am,
Yes it is possible for a private limited company to give loan or guarantee to a loan in favour of its subsidiary public limited company,
following compliances are to be made for such transaction:
if amount of such loan or guarantee exceeding sixty per cent. of its paid-up share capital, free reserves and securities premium account or one hundred per cent. of its free reserves and securities premium account, whichever is more.
then Special resolution in general meeting needs to be passed,
The company shall disclose to the members in the financial statement the full particulars of the loans given, investment made or guarantee given or security provided and the purpose for which the loan or guarantee or security is proposed to be utilised by the recipient of the loan or guarantee or security.
No loan shall be given under this section at a rate of interest lower than the prevailing yield of one year, three year, five year or ten year Government Security closest to the tenor of the loan.
No company which is in default in the repayment of any deposits accepted before or after the commencement of this Act or in payment of interest thereon, shall give any loan or give any guarantee or provide any security or make an acquisition till such default is subsisting.
Every company giving loan or giving a guarantee or providing security or making an acquisition under this section shall keep a register which shall contain such particulars and shall be maintained in such manner as may be prescribed.
provisions remain same in case of private limited companies also,
thank you