Member (Account Deleted)
19 May 2012 at 16:13
The Companies Act provides that the auditors shall be appointed by an ordinary resolution in general meeting.
If the shareholders agreement contain a clause that the auditors shall be appointed with their mutual consent,what will be its legal effect?
C.S. A.K.Maitra
Vinod Shah
18 May 2012 at 16:56
Step – 1 Form 1A: Name approval: An application in E-Form 1A has to be made for availability of name to the registrar of companies, with a fee of Rs. 500/-. It can be filed electronically. Six name in preferential order need to be proposed
Step-2 Application to Regional Director: After the availability of name is confirmed, an application should be made in writing to the regional director of the company law board for granting license under this section. The application must include copies of the memorandum and articles of association of the proposed company, as well as a number of other documents, including a statement of assets and a brief description of the work proposed to be done upon registration.
Step – 3 Filing of Application copy to the RoC: The applicants must also furnish to the registrar of companies (of the state in which the registered office of the proposed company is to be, or is situate) a copy of the application and each of the other documents that had been filed before the regional director of the company law board.
Step – 4 Publication of Notice: Within a week from the date of making the application to the regional director of the company law board, the applicants are required to publish a notice in the prescribed manner at least once in at least two news papers. One notice should be in an English newspaper circulating in that district and in a language of the district in which the registered office of the proposed company is to be situated or is situated and circulating in that district.
Step – 5 Grant of Approval: If the registrar satisfies that the application is complete in all respects and in the best interest of the country, regional director can grant the licence under this section with or without conditions and may also direct the company to insert in its memorandum, or in its articles, or in both, such conditions of the licence as may be specified by him in this behalf
Step – 6 Other Incorporation formalities: After obtaining licence under section 25 the company shall be formed as a normal company and the other formalities of incorporation shall be complied with.
Step – 7 Registration under Section 80G: If a section 25 company gets itself registered under section 80G then the person or the organization making a donation to the NGO will get a deduction of 50% from his/its taxable income. The company has to apply in Form No. 10G to the Commissioner of Income Tax for such registration. Normally this approval is granted for 2-3 years but can be granted earlier depending upon the situations.
Jee Education
18 May 2012 at 14:56
I would like to know what is the procedure involved in converting a society / trust registered in Maharashtra into a business entity ( partnership or Private Company) ?
Member (Account Deleted)
17 May 2012 at 23:35
Can a licensed wholesaler of general goods duplicate as a Retailer as well using the same premises? Who is responsible to ensure compliance in the state of Andhra Pradesh?
Rajesh
16 May 2012 at 20:02
What are the formalities for registration of business as sole proprietor? Whether gumasta license is sufficient? Can other businessman with same business name file suit for using the same business name?
kailash roongta
16 May 2012 at 18:55
Dear Experts
Against a Railway order supply was made as per the terms & conditions mentioned in the purchase order.The supply was accepted and payment also made there of.After expiry of 40-45 days railway intimated to us that "supply made by us is not as per railway specification."We under the gurantee/warranty clause replaced the rejected quantity but railway imposed on us liqudates damages (L.D ) When protested by us they justified the same by writing to us that" purchaser i.e. Railway has the right to impose L.D for delayed supplies". This is despite the fact that we have fulfilled our end of contractand made the supply within original delivery period stipulated in the order and Railway also made payment.
Please adise can Railway impose on us L.D in view of above stated facts.
kailash roongta
16 May 2012 at 18:39
Dear Experts
Against a Railway order supply was made as per the terms & conditions mentioned in the purchase order.The supply was accepted and payment also made there of.After expiry of 40-45 days railway intimated to us that "supply made by us is not as per railway specification."We under the gurantee/warranty clause replaced the rejected quantity but railway imposed on us liqudates damages (L.D ) When protested by us they justified the same by writing to us that" purchaser i.e. Railway has the right to impose L.D for delayed supplies". This is despite the fact that we have fulfilled our end of contractand made the supply within original delivery period stipulated in the order and Railway also made payment.
Please adise can Railway impose on us L.D in viewofabove stared facts.
Kripesh Gope
16 May 2012 at 12:57
I want to start a new Business venture in Transportation & Logistics. Do I need to register my firm under shops and establishment Act?
I want to register my firm under MSME Act, still do I need registration under Shop Act?
What are the other registration required for this business?
pooja dedhia
15 May 2012 at 18:04
when resolution is passed in the board meeting and it is recored in the loose page, to make authentic & evidence proof what should be there ?
for eg stamp of the co,
sign & designation of the director
& what else................
is it require to submit in the roc?
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Sitting fee
Can M.D. of a Pvt. Ltd. Company claim sitting fee for attending meetings of the board?
Can directors be paid sitting fees for attending meetings of the shareholders?
C.A.A.K.Maitra