Your Session Will Expire in   seconds.
If you do not wish to log-out, choose 'Let me continue'
Reset SessionCancel Session
 
Skip Navigation LinksHome > Post Query > View All Query
Filter by :
From Date :
To Date :
Go
Query Posted : 770
Query Replied : 770
12345678910...
 
  • INTER CORPORATE LOANS
    by GIRISH on Monday, May 07, 2018  at 06:05 PM

    ONE PRIVATE LIMITED COMPANY CANNOT GIVE LOAN TO ANOTHER PRIVATE LIMITED COMPANY AS THE DIRECTORS OF THE COMPANIES ARE SAME. THE DIRECTORS DO NOT HOLD ANY SHARES IN THE COMPANIES. THEY ARE HIT BY SECTION 185 OF THE ACT AS THE LENDING COMPANY CANNOT GIVE LOAN TO BORROWER COMPANY AS ITS DIRECTORS ARE THE DIRECTORS OF THE BORROWER COMPANY ALSO. IS IT CORRECT? THE NEW SECTION 185 HAS NOT BEEN NOTIFIED YET.

  • HUF WHETHER RELATIVE
    by KAUSHIK on Friday, May 04, 2018  at 03:55 PM

    Dear Sir, As per Section 2(77)of the Companies Act, 2013 "relative" with reference to any person, means any one who is related to another, (i)if they are members of Hindu Undivided Family. Whether Hindu Undivided Family (HUF) will be treated as Relative?

  • Clarification on amendment by Companies (Amendment) Act 2017
    by Prabhaw on Wednesday, May 02, 2018  at 08:10 PM

    1) In proviso of Section 149(6)(d)(i),do we need to consider the 2% of aggregate paid up share capital of Company,Subsidiary,Holding and Associate Company while determining the value of securities that relative can hold. 2) Will Sec 149(6)(d)(iii) get attracted if a person provides guarantee of promoter or director of subsidiary or associate company.

  • INTER CORPORATE LOANS
    by MUKESH GOEL on Wednesday, May 02, 2018  at 03:09 PM

    TWO PVT LTD COMPANIES A PVT. LTD & B PVT. LTD. HAVE COMMON DIRECTORS BUT DIRECTORS HAVE NIL SHAREHOLDING IN BOTH OF THEM. WILL BOTH THE COMPANIES BE HIT BY SECTION 185 AND A PVT. LTD CAN'T GIVE LOAN TO B PVT. LTD.EVEN THE DIRECTORS HAVE NO SHAREHOLDING AT ALL. BOTH THE COS HAVE DIFFERENT HOLDING COS BUT ONE ULTIMATE HOLDING CO.

  • Preference shares against advance received
    by K S Iyer on Wednesday, May 02, 2018  at 01:04 PM

    Sir,W.r.t the earlier query,X P Ltd received commercial advance from Y P ltd,which is later agreed to be converted to NCNCPre shares.I understand from answer that after getting Y's consent and SPl Resolution it can be converted under Private Placement mode.(a)Since money has been already received and used, how about the compliance of receipt and deposit in separate bank account till allotment(b)book value being negative, whether issue at FV would have any Incometax implication? Regards

  • Preference shares against advance received
    by K S Iyer on Tuesday, May 01, 2018  at 08:36 PM

    X Pvt Ltd received from another group family company Y pvt ltd advances on on three occasions money for import and supply materials to Y. X&Y subsequently agree for issue of NC non-cum Pref.shares in X against due at face value.(incidentally, X's Book value is negative).Kindly guide (a)as spl res. was not passed when advance was received, whether the said issue is in order(b)Can X pass Spl.Res. without repayment(c)Is share valuation mandatory(d)isissue for consideration other than cash

  • Charge Registration
    by KAUSHIK on Thursday, April 19, 2018  at 02:45 PM

    A company has pledge its Fixed Deposit for obtaining Loan from the bank. Whether the company has to create a charge on these Fixed deposits?

  • 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

  • ISSUE OF DEBENTURES
    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?

  • TYPE OF SUBSCRIPTION
    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.

12345678910...
 
taxmann.com
Payment
Best view in 1140 x 768