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.
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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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Dear Members,
Please guide from which app Photos to be taken, so that Latitude, Longitude, Elevation, Accuracy, Time all these details comes on Photo?
Please help.
If Company has two director out of which one director is related and they wanted to enter into a related party transaction. Will it be possible. How they fulfill necessity of Quorum?
Click here to view / answer Share it ontransaction
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related
Respected Sir / Madam,
A company, registered under ROC, Karnataka received Show cause Notice for non compliance of section 10A(1)(a) of Companies Act 2013 for non filing of form INC 20A within 180 days from the date of incorporation.
As mcacms site was not working properly, i sent the reply for the scn to roc.bangalore@mca.gov.in
They respond me by saying this : ""This is to inform that you may send a report to MCA with a copy to ROC.
Further you will be required to go for adjudication of penalty under section 454 of the Companies Act 2013 for delay in filing the e-form immediately.""
Please advice me what to do now. When i opened the mcacms site there is no option to submit response as per section 10A
Respected Sir / Madam,
A company, registered under ROC, Karnataka received Show cause Notice for non-compliance of section 10A(1)(a) of Companies Act 2013 for non-filing of form INC 20A within 180 days from the date of incorporation.
As mcacms site was not working properly, I sent the reply for the scn to roc.ba...@mca.gov.in
They respond me by saying this: "This is to inform that you may send a report to MCA with a copy to ROC.
Further you will be required to go for adjudication of penalty under section 454 of the Companies Act 2013 for delay in filing the e-form immediately.
Please advice me what to do now. When i opened the mcacms site there is no option to submit response as per section 10A
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Please guide me. What to do and how to proceed for section 454 of CA 2013.
Thanks in advance.
Dear professional Experts,
We are in the process of strike off a private limited company which is incorporated at 8th May 2018 and not received any Subscription from Share holders and not commenced its business since from its incorporation.
Query : what is the treatment in Statement of account format when share capital money not received from share holder and not commenced its business? can i alter the format below and mention as below
Particulars Amount in Rupees
I Source of Funds
(1) Share capital 1,00,000
----
----
Total 1,00,000
II Application of Funds
---
---
(3) Due from the Shareholders 1,00,000
Total 1,00,000
or Instead of showing Due from share holder without altering the format of Statement of account can i show as 5) Miscellaneous expenditure to the extent not written off or adjusted -1,00,000
in Application of funds and tally the Statement of Account.
Which is correct method of showing in statement of Account in the case of Share capital money not received form Share holders and not commence the business of the company?
Please help to get out off from this confusion...
Can a company file inc 22 for change of registered office one year ago using this scheme? The directors of the company were disqualified and the Din were activated last September through writ petition it seems.
Click here to view / answer Share it onA proxy is submitted 54 hours ago and another one is submitted 36 hours ago. Which one is valid?
Click here to view / answer Share it onDear All,
I have a small query, that 2 members collectively holding more than 20% Voting Right in the corporate Debtor can be treated as Related Party to the Corporate Debtor?
and if the same shareholders/members have given a Loan/Deposit to the Corporate Debtor, are they eligible to attend the Meeting of CoC and Vote in the meeting?
Dear Learned Members,
A Public Company holds equity shares of another Company.
Can that public Company go for Strike off, without selling off Equity Shares of another company?
Kindly suggest.
