Company's Act

We have to pay stamp duty when we increase authorised capital.

Do we have to pay stamp duty on the issued capital also.

Kindly give your opinion and oblige.

Regards,
Ramesh Mande

OTS Settlement

My unit became a NPA in 1998. A decree was passed in 2003. The Bank called for an OTS settlement in 2004. I paid the upfront. Then, I could not fulfill my commitment. Again the bank called me for an OTS. in 2005. I started paying in instalments. There was one year time ,up to june 2007, I with the good intention, promised to pay before Dec 2006. I paid , but a percentage could be accomplished oly during March 2007. The bank accepted my payments. I deposited the amount ina joint account with my husband in the same bank. After getting the ratificationfrom the LHO, they transferred the amount to my company;s laon account. The Bank also gave me a No due certificate , not in a letter format but in the form of account statement. I made frequent reminders to the branch and LHO to return my documents. There was no response. Suddenly ,the recovery officer , from DRT ,wanted to attach the properties in Oct 2008. I submitted a petition to DRT, my petition was dismissed. I am perplexed. The no due statement ,according to the bank's contention , is not exact , there is a shadow balance. They have quoted from Narasimhan Committee. I am at a loss now and totally disillusioned with Indian Banking.

power of attorny

Is power of attorney is require to register in Ragistrar Office under Indian Registratio Act

Banking

A Pvt Ltd is newly formed company & is subsidiary of B Ltd. A Pvt Ltd is in the process of applying for tender & is required to furnish Bank Gurantee. Since it is newly formed company, its holding co. B Ltd kept FD worth Rs 50 lakh with bank & provided BG on behalfo A Pvt Ltd. BG required was Rs 50 lak so holding co kept 100% margin money in terms of FD & bank put its lien on FD.
Now bank wants counter indemnity for guarantee limit.
So whether bank is right in asking such counter indemnity once 100% margin is kept. What is the available defence against bank for forcing counter indemnity.
Under what circumstances the counter indemnity is asked by bank. Are their any RBI guidelines for such counter indemnity.
Pls advice & guide

Thanks in advance

FORMALTIES FOR JOINING AS DIRECTOR IN PVT LTD COMPANY

Dear All
Iwould like to know the following
i) Documentation required to join as a business partner of 25% in a Pvt Ltd company and how become a director/chairman in this company.I already have a DIN number.
ii)Formalities &documentation to give loan to the above Pvt Ltd company

Thanks

Harkirat

FEMA

An advance from foreign company has been received in India against export of service.But the service has not been rendered within a period of one year.

what is the implication under FEMA and penalty if any?

Can the advance be treated as ECB.

Grateful, if you could respond citing the section no. or notification no./ circular no.

Corporate Law

A Private Limited Company with Rs.10 lakh authorised Capital,
Issued & Subscribed Capital is Rs.1 lakh.
It has a share Application Advance of Rs. 20 lakhs.
It is to repay its Share Application Advance now.
Is the resolution passed in the Board Meeting of the Directors is enough for such repayment?
Will the amount carry any Interest?

performa for filing trade mark in delhi

kindly tell me the performa with office adress for filing trade mark

consortium agreement

Companies act

Dear All

Say X is a Pvt Ltd co. and accepts the money from Y Pvt Ltd. Y Pvt Ltd is showing it as an ICD and X Pvt Ltd is showing as a loan.
No agreement has been entered into between the 2 companies for this money. Now my question is whether it is a ICD or loan.
If we say it is ICD then the Pvt Ltd co. is not allowed to accept deposits from outsiders u/s 3(1)(iii)(d)
So how to prove that this is not ICD but it is a loan. It was carrying interest @ 12% p.a.
So what are the characteristics of ICD & Loan by which we can discriminate these two & prove that it is not deposit but it is loan.
Are any other provisions applicable for such transactions under companies act & whether any violation is made
Kindly guide
Thanks in advance