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
DRAFTING OF MEMORANDUM OF ASSOCIATION (MOA) AND ARTICLE OF ASSOCIATION (AOA): SECTION 8 CO. (NGO)-MCA
MOA: FORM NO. INC 13
Drafting of Memorandum of Association (MOA) and Article of Association (AOA) is generally a step subsequent to the availability of name made by the registrar. It should be noted that the main objects should match with the objects shown in RUN.
These two documents are basically the charter and internal rules and regulations of the Company. Therefore, it must be drafted with utmost care and with the advice of the professional. The Directors/ promoters with the help of professional draft MOA and AOA.
Article of Association contains the internal regulations of the Company so care should be taken while drafting it. The model articles are given under table F of Schedule I. Now under Companies Act, 2013 requirement for making alteration to certain clauses of AOA can be made more stringent by way of inserting entrenchment provision.
Also ensure that the MOA & AOA are not ultra-vires the law (Section 6)
Procedure for drafting MOA of section 8 Company start from:
1st clause which contain name of the section 25 or 8 company example XYZ Foundation or XYZ association etc.
Second clause state to mention state in which registered office of the proposed section 8 Company will be situated example NCT of Delhi for Delhi or State of Haryana for Haryana etc.
Third clause of INC-13 i.e. MOA contains charitable object of section 8 company i.e. to establish industrial training center or college or social service center etc. i.e. only object having charitable purpose and restricted company to support with its fund which will make trade union or other company which are observed by its member.
Clause 4 of moa clearly mentions that object of the company extend whole of India except J & K.
Clause 5 of the MOA restricted diversion of section 8 company income or property to any of its member or its related party in any form. It has also been clarified that profit of such company can only be utilized for its charitable object. Prudent Remuneration allowed to its member only when he actually provides services to the company.
Clause 6 provides that Memorandum of Association cannot be altered unless alteration has been previously approved by the registrar of company
Clause 8 state liability of the member is limited
Clause 9 required to maintain certain record and books for expenditure income assets etc. and once in an every year accounts shall be examined by auditor about correctness of balance sheet and income & expenditure.
Clause 10 mentioned about dissolution of Section 8 Company and whereas
Clause 11 states section 8 company can be amalgamated only with section eight company having similar object and
Clause 12 contains detail of subscriber of MOA. Format of AOA of section eight company is same as for Private Limited Company registration.