Dear Members,
A Company was taken over by Foreign Company during FY 2018-19, While in process It has instructed promoter Directors of the Indian company to sell out certain assets of the company and out of such sale proceeds share the profits among promoter directors as an incentive.
After the sale, it has transferred the incentives to Promoter Directors on 2 different dates.
But there is no approval of Board or Shareholders. Book entries have been made and the Company has transferred the funds.
Further, the company made profits during such financial year.
Please suggest, which meetings to be passed to record the aforesaid transaction
Hi All!
Kindly guide me on how can we distinguish between the terms "promoter" and "non-promoter" for the purpose of showing their shareholding in Form MGT-7?
promoters
promotersnon
shareholding
Can a Private Limited Company issue convertible warrants to its Promoters Directors?
If yes. Whether there are any provisions similar to Regulation 75 & Regulation 77 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009, regarding tenure of convertible securities and Payment of consideration which are applicable to Private Limited Company?
