Dear Members,
I m searching one of teacher who also have practical exposure for learning in field of FEMA Related assignment export import ,fund transfer from in or/and out side India etc.
Please suggest me how can I get acquainted in this field.
Hello All,
How to fill clause 7 (Related to AGM) of AOC-4
Due date of AGM = 31/12/20
Extension granted? = No
Hello,
In section 188 of co.act
Board can grant approval to RTP less than 10% of turnover of co.
I am confused in Which turnover consolidated or standalone.?
Pls help.
transaction
party
related
In a company with two directors (both shareholders), 1 director wants to exit from directorship and also sell the shares. Since Pvt Ltd n3eds minimum 2 directors first Board will appoint an additional director at BM (this additional director is spouse of director who will stay back) and then director who wants to exit will resign.
Now my query is:
1. Will additional director be counted for minimum 2 directors limit in pvt ltd. Since he holds office till AGM, during AGM there'll be only one director right? Isn't this non compliance?
2. Are there any filings or declarations to be done in case directors are related (like husband and wife)?
Thank you friends.
directors
counted
limit
director
additional
related
compliance
Dear Friends,
In a company with two directors (both shareholders), 1 director wants to exit from directorship and also sell the shares. Since Pvt Ltd n3eds minimum 2 directors first Board will appoint an additional director at BM (this additional director is spouse of director who will stay back) and then director who wants to exit will resign.
Now my query is:
1. Will additional director be counted for minimum 2 directors limit in pvt ltd. Since he holds office till AGM, during AGM there'll be only one director right? Isn't this non compliance?
2. Are there any filings or declarations to be done in case directors are related (like husband and wife)?
Thank you friends.
directors
counted
limit
director
additional
related
compliance
Hello Professionals,
Prvt Co is appointing one director and the company wants to issue fresh shares to that director and increase the capital .The new director is not shareholder .
In AOA of the company there is no clause of right issue ,as in this case company wants to right issue right ,if i am wrong then let me know.
and let me the process for issue of shares from company to director .
Dear Members,
A private company has two directors and the company wants to sell its land and buildings to both the directors. But as per section 188, interested directors cannot be present during the discussion of the transaction. In this case how can the company pass board resolution?
Thanks.
transaction
party
related
Dear Members,
A private company has two directors and the company wants to sell its land and buildings to both the directors. But as per section 188, interested directors cannot be present during the discussion of the transaction. In this case how can the company pass board resolution?
Thanks.
transaction
party
related
Dear Members,
A private company has two directors and the company wants to sell its land and buildings to both the directors. But as per section 188, interested directors cannot be present during the discussion of the transaction. In this case how can the company pass board resolution?
Thanks.
transaction
party
related
public unlisted co has declare dividend in FY 19-20 but was not able to open the dividend account...its a non compliance
now the company wants to open the dividend account but the problem is, co is having CC (cash credit account) with banks and the RBI circular says if you have cc account you cant open any other account with bank or any other bank whatsoever...
so please suggest how to proceed with the opening of unpaid dividend account
Dear All,
We have a pvt company, and it has received money from shareholders up to its paid up share capital and free reserve. Where we should show this amount either in radio button 4 and fill the amount of deposit, but it says that this amount should be less than 25% or radio button 3 and we should show this amount in amount brought by promoters as unsecured loan but company has not any bank loan(point no.( n)). Pl. advise me.
related
A company invested into another Company owned by a related party. does the transaction of investing attract the provisions of section 188 of the Companies Act 2013 and the provisions of the related party under SEBI LODR regulations.
1. Section 188 of the Act lists out certain transactions which will be considered as RPT under the Act. The list of RPTs are as follows:
a) sale, purchase or supply of any goods or materials;
b) selling or otherwise disposing of, or buying, property of any kind;
c) leasing of property of any kind;
d) availing or rendering of any services;
e) appointment of any agent for purchase or sale of goods, materials, services or property;
f) such related party’s appointment to any office or place of profit in the company, its subsidiary company or associate company; and
g) underwriting the subscription of any securities or derivatives thereof, of the company:
2. as per SEBI LODR “related party transaction” means a transfer of resources, services or obligations between a listed entity and a related party, regardless of whether a price is charged and a "transaction" with a related party shall be construed to include a single transaction or a group of transactions in a contract.
as per ICSI guidance note on RPT, a transaction of giving loan, making investment, providing guarantee or security is a transaction of a financial nature and is not covered under Section 188 of the Act. However, the requirement of Section 177 of the Act, which mandates the approval of the Audit Committee for all transactions with related parties (subject to the exception of transactions with wholly owned subsidiaries), would continue to apply.
solicit views of the members on the same.
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