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Query Posted : 762
Query Replied : 762
  • Cash received towards allotment of shares under rights issue
    by R Baskaran on Thursday, March 15, 2018  at 02:20 PM

    Sir Can cash be received towards allotment of equity shares under Rights issue? Rights issue is dealt under Sec.62(1)(a) of the Act and there is a specific prohibition on acceptance of cash as a consideration towards issue of shares in sec.42(5)only. Further, Rule 13(1) of the Share Capital and Debenture Rules mentions about applicability of conditions mentioned in Sec.42 with respect to Preferential Allotment only and there is no reference to Rights Issue. Please advice. R Baska

  • Small companies
    by nimish vayawala on Friday, February 23, 2018  at 07:02 PM

    The companies A and B had businesses in past now the companies have only assets . they are ithin the definition of small companies can they amalgamate under 233 without going to NCLT

  • Minority s h
    by nimish vayawala on Friday, February 23, 2018  at 06:59 PM

    as i understand after making fair offer as per 236 after expiry of time as per section the shares of minority automatically gets divested and they are entitled to consideration which has been deposited in escrow account pls confirm

    by Kaushik on Friday, February 23, 2018  at 05:57 PM

    Whether a Private Company can issue debentures to a non-shareholder (he is not even relative of the Director)? Would it attract the provisions of Deposits?

  • Subsidiary Company
    by Karan on Wednesday, February 21, 2018  at 07:07 PM

    Can a subsidiary company have 2 holding company either by virtue of shareholding or controlling in the management of the company?

  • Dissolution of Audit Committee & Nomination & Remuneration Commit
    by Nidhi on Wednesday, February 21, 2018  at 12:41 PM

    After the MCA Notification in the month of July 2017, 100% Subsidiary of a Listed Company and such other classes of companies, need not to have Independent Directors on their Board and with a view to the same the Company has decided to dissolve the Audit Committee and NRC. Query: Do we require to pass Board Resoultion for dissolving Audit Committee and NRC or mere the noting of the same in Board Meeting will suffice??? Any MCA Form required to be filed in this case???

  • Conversion of Loan into Equity
    by KK on Friday, February 09, 2018  at 11:52 AM

    One of our director had given loan to his private company without any agreement. Now, company wants to further issue of its subscribed capital in this regard director has to make payment to company for acquiring new shares. But director wants to convert his loan into equity. Is that possible for co. to convert as term of loan and SR had not passed when loan is taken?

  • Meaning of public borrowing in rule 5
    by MEGHA SUNDARESH ANDANI on Thursday, February 08, 2018  at 10:50 AM

    In continuation to query dated 06.02.2018 - The basis of restricting it to PFI is because of the word ‘public borrowing’ ‘Public borrowing’ is not defined in the Companies Act, 2013 nor used anywhere in the Act. It is used in Rule 5 of The Companies (Audit and Auditors) Rules for prescribing the class of companies for which provisions of rotation of auditors is applicable. So whether the word ‘public borrowing from financial institution’ can be interpreted as borrowings from PFI?

    by KAUSHIK on Wednesday, February 07, 2018  at 06:03 PM

    Mr. A, shareholder of XYZ Pvt Ltd gave loan to the Company in 2013. XYZ Pvt. Ltd. has proposed rights issue in Year 2018, Mr. A is eligible to subscribe. However, Mr. A intends to subscribe to shares by debiting the subscription amount from the outstanding unsecure amount loan payable by the Company 1. Is there any restriction for accepting the Subscription money by debiting the loan payable account under Companies Act 2013. 2. Whether this will be treated as conversion of loan into equity

  • Meaning of public borrowing in rule 5
    by A on Tuesday, February 06, 2018  at 06:30 PM

    Meaning of “public borrowings from financial institutions, banks or public deposits” in rule 5 of The Companies (Audit and Auditors) Rules 2014. Whether this includes borrowing from any financial institution or restricted only to public financial institution. Further whether borrowing from foreign financial institution is covered by the rule.

  • Objects
    by RAVINDRA on Tuesday, January 30, 2018  at 05:35 PM

    Dear Sir, I am Incorporating a new company. A few years ago we could have a number of main Objects in the MOA which could be pursued on incorporation.I am told that now you can have only One main object. Is this correct.? If so how do I pursue 3 more main objects that i want to pursue under this company? Thanks Ravi Watwe

  • Re: Share Warrant
    by chirag on Wednesday, January 24, 2018  at 11:25 AM

    in continuation of earlier querry. reasons for issuing share warrant is to increase the networth of the company.. for issue of further shares u need to determine FMV of the company..i think that not the case in respect of warrant.

  • Re: Price for Share Warrant
    by CHIRAG on Tuesday, January 23, 2018  at 04:02 PM

    Sir, we are private ltd co and wants to issue share warrant. is there any mechanism for fixing the price of the warrant under the Act? 2. can we fix any price of the warrant..

  • CSR
    by Karan on Tuesday, January 16, 2018  at 10:48 AM

    Whether contribution towards disaster relief qualifies as CSR or not

  • IPO Expenses
    by Rao KS on Tuesday, December 26, 2017  at 07:35 PM

    In case of Offer for sale, the share holder is selling the shares, which IPO expenses to be reimbursed to the company by share holder as per CA sec.28(3). The IPO expenses incurred by company, which reimbursed subsequently by share holder to the company, which offer for sale made by share holder holding >10% shares, Is it will covered and treated as deemed dividend U/s.2(22)(e) of the Income Tax Act.

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