N.K.Assumi
29 August 2008 at 13:53
If a deceased left behind s security in the Bank, and no one claim that security eg, money in the Account of the deceased, what is the limitation period to forfeit such security to the Government etc?
Anusheel Tandon
29 August 2008 at 01:49
Hi
I am in the process of getting a new Pvt Ltd company registered. In the process, my agent has asked me to sign a POA with the purpose that he may make necessary changes to MOA and AOA during the registration process and according to him this POA will expire on the day I receive letter of Incorporation.. I am okay with that but the wordings of the POA are such that it look like an open ended document without any age limit set for it (as if it can be exercised even after we receive letter of Inc)... Pls let me know if I should sign it?... Can it cause problems later?
Wording of POA
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Ref: SRN
SPECIAL POWER OF ATTORNEY
We, the undersigned promoters of ‘XXX’, a company under incorporation do hereby authorise Mr. YYY, Company Secretary ,to carry out necessary changes, amendments, corrections and substitution in the Memorandum and Articles of Association and other documents submitted at the time of incorporation of the company.
All acts, deeds and things lawfully done by the attorney shall be binding on us, as if the same were done by us.
In witness whereof we have put our signatures hereunder on
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Thanks
Jaydeep Kurup
27 August 2008 at 11:27
Please pardon in case this is a wrong forum for this query. But i think our members are versatile enough to tackle any area.
An NBFC is required to maintain a min Net Owned Fund (NOF) of 200 lacs.
My query is what should an investment company (NBFC) do in case its NOF as at the end of the year falls below the stipulated limit due to a fall in the market prices of shares owned by it.
Does the RBI registration automatically get cancelled ?
Is it requried to mandatorily raise the equity ?
Subrahmanyam
24 August 2008 at 22:08
Can anyone kindly tell me if i can write off P&L Debit balance in a company's balance sheet from share premium account. is it permissible under any Act.
Rama Verma
22 August 2008 at 12:52
please provide step wise details for starting sole propership firm. and details form, fees, and gurgaon registrar office
Anil
22 August 2008 at 11:40
Which Forms are to be used in case of the following under the KARNATAKA VAT Act?
1)For transfer of goods within state to dealer for sale by him(dealer)later.(i.e, on consignment basis ).
2)For transfer of goods within State to its another branch (i.e.,branch transfer)
Thanks.
Sundararajan
21 August 2008 at 15:02
Dear Sir,
Kindly give your opinion to the following case.
M/s KKR Pvt Ltd. was formed by Mr.A and Mr.B and Mrs.D with the share capital of Rs 10, 00,000/-.Mr A and Mrs D subscribed 94% of Share capital together and Mr. B contributed for 6%. BOD has appointed Mr.B as Managing Director. After 3 or 4 months, there was a difference of opinion between Mr.A and Mr. B regarding expansion of Business and its development. Mr.B didn't attend the three to four meetings consecutively convened by Board for business purpose. In Third meeting, Board has admitted Mr.H as new director and all the provisions were duly complied for that. In fourth meeting Board has declared that Mr.B has been removed from the position of MD and Director and also appointed Mr.A as MD.
But Mr.B is refusing his removal from office of Director and decline to hand over the Corporate and Property documents in the name of Company. IN such a situation Company institute a case against Mr. B regarding to handover all the documents of the Company.
Kindly give your opinion,
1. Whether removal of Mr. B is legal?
2. What is the remedy for the company to recover the documents from Mr.B
Amit
21 August 2008 at 11:49
I have a pharma manufacturing company recently I got few foreign clients who wants to work on loan license in india with me.what is the procedure to get loan license work with them
ankit gupta
20 August 2008 at 22:37
can anybody tell me what is the best way the employees can be bounded by the work,
in other words what conditons should be consented to in the agreement so that minimum liability of the owner arises.
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