Raja Rajeswari S
11 June 2010 at 12:54
A private ltd which was not in operation for the past ten years wants to get its name striken off ROC records through the present Easy exit scheme.
The company has properly filed annual returns till now. The Company has a fixed asset of land for Rs 12 lacs and a share capital to that same extent. The Balance sheet filed every year shows the above asset(Rs. 12Lacs)and share capital liability (Rs. 11.75)with a nominal creditor liability(Rs. 0.25 lacs). The company was not in operation for the 10 years. The company does not have any secured loan.
the company wants to sell the land in company's name to the shareholders for rs. 10 lakhs. After this sale, the balance sheet will have a capial liability of Rs. 1.75 lakhs and crs of .25 lacs and a the loss on sale of land of Rs. 2 lacs debited in P&L A/c in the assets side.
Should the company pass any special resolution to sell its property to its members?
In above case as the asset(land) is sold and it is given to the share holders thus deducting their capital liability, will it not amount to capital reduction u/s 100 of the Co’s act?
If so, Will the ROC accept this balance sheet under the exit scheme?
How to dispose the land in the company’s name (In reality the market value of land is two crores) and get the company closed?
If not how should the company proceed to get its name strike off?
Should it go for voluntary winding up?
Kinldy clarify.
regards
RAJA RAJESWARI
Anonymous
11 June 2010 at 11:17
An individual was appointed as Director of a Private Company in 2007. Now w.e.f.2010 he is appointed as Chairman of the Board. Do we need to e-file Form 32 again for appointment as Chairman
Anonymous
11 June 2010 at 09:28
Hi every one,,,I need u all to guid me to fulfil my wish or a dream,,,i'v done International Trade Law (LLM from London University) in Arbitration, Marine Insurance,,,Carriage of goods,,, Sales of Goods,,Negotiable Instrument Act,,,,I wish to deal with foreign clients n visit abroad wanna earn in Dollars Pounds Euros,,,,,How it cud be done,,,,
Plz dont feel strange m 32 yrs old female n married n gonna b a mum soon n m going thru bad phase of life where i'v t think in dis way to show in-laws n hubby tat i can do smthg n take care of my child in future or i'll loose everythg my hubby n child...
One day i will get seperated if nothing can be done but for the time being avoiding cz i don wanna depend on my parents or anyone else,,,
How I cud use my qualification in a right way so that I wont regret,,,,
M already upset so plz no stupid ans,,,,
thanx those who take seriously :)
prithwish sengupta
10 June 2010 at 18:29
can a private trust be a shareholderr in private company?? is there in any restriction on being a shareholder of a company??
is there any case law of a private trust become a shareholder of a private company??
prithwish sengupta
10 June 2010 at 18:21
who can be a shareholder in a private company???
Pramod Kumar
10 June 2010 at 14:35
Dear Sir,
I put following points for your kind consideration and reply:
1. Whether it is necessary to hold qualification shares by a Director in a company under The Companies Act 1956? If not,
2. whether Articles can be amended to delete such provision, If it is provided by Articles to hold such qualification shares by a Director?
The issue is urgent and I soloicit your kind guidance at the earliest,
with Regards,
PRAMOD KUMAR
shantanu dekhane
10 June 2010 at 08:58
In recent issue over Citi group Company director Mr Aniruddha Deshpande has taken part in IPL Bid of Pune team by Using name of his company so whether director can use his co name while acting in Personal Capacity? and What is liablity of the Company in such circumstances, Whether Company is liable to the act of the Director performed in his course of his Personal Capacity?
Bharat Gala
07 June 2010 at 13:09
Dear Sir/s,
I shall be thankful to you to inform me the procedure to file suit u/s. 138 and the period within howmany days I can file a suit in the court of law and amount of the fees to paid.
Anonymous
07 June 2010 at 12:09
Hi - we are planning to get funds from Friends and Colleagues - both in India and abroad to invest in Indian Equities - both private and listed. We are targeting Rs. 25 Cr. to start with, under multiple schemes - differing on investment as well as profit distribution objectives.
We would be seeking legal help to put this structure in place, but would like to develop initial understanding to engage the right professional help.
Our plan was to get these Funds in multiple trusts (one for each scheme) and manage them through an Investment Company (NBFC - with the objective of investment management). However, it looks like we would then fall under Collective Investment Scheme. The compliance and set up charges associated with an CIS would make the whole plan unviable for a 25 Cr. Corpus. Is there a better way to go about it? Should we set up multiple Investment Companies (instead of Trusts that is being managed by a CIMS) and do not fall under the purview of SEBI CIS act?
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Not help by bank, what can do
My Purse with Debit Card Lost from me in Train Journey in Second Class Sleeper Cauch.then I fully try to contract to my Bank but don’t receive any response then I am immediately Filed first information report in Police station.
After then I receive SMS thought SMS Service a unknown another person use my Debit Card and Purchases Jewelry from Jewelry Shop ( Bank Vendor). After using that person threw out my purse then a another person get and send my home address thought courier.
Please guide me :-
That is Write on Debit Card “ Not Valid Uniless Signed”
I am not signature on debit Card.
Then I meat to Bank Vendor Jewelry Shopkeeper and my Bank Branch and Bank Head officer but not given any response and not ready to any help.
1- What can I take action before Bank Vendor and Bank.
2- My duet on a person he seat near in train journey but I haven any information of name and address that person.
With Warm REgard's