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Prashant   14 July 2009 at 19:56

Company Law

1.Two public ltd companies were formed. 2.The date of certificate of incorporation are 24-01-2008 & 08-05-2008 respectively.
3.The certificate of commencement of business has not been taken till today.
4.Subscribers to MOA & AOA are 6 individuals and 1 is listed public ltd company (say A Ltd). A Ltd subscribed for 49,994 shares out of 50,000 shares and rest of the individuals subscribed for 1 share each.
5.Till today neither from A Ltd nor from 6 individuals, money on account of share capital is received by these companies.
6.Further, while finalizing the annual accounts of A ltd, the above companies were not shown/disclosed as subsidiaries and there accounts were also not incorporated in the annual report eventhough there were no transactions/activites done since commencement certificate is not obtained.

So following queries are raised-

1.Does A Ltd really becomes the holding company eventhough it has not purchased share capital of these companies.
2.Now A Ltd does not want to be the subscribers to MOA & AOA simply because they do not want these companies to be its subsidiaries. So now what is the remedy?
3.Although share capital is not received, can A Ltd transfer the shares in others name & get rid of the status of holding company (if at all it becomes holding company)
4.What is the consequences, for not showing these two companies as subsidiaries in the annual report of A Ltd as on 31-03-09.
5.What are the compliances to be made for these two companies from the date of incorporation with respect to accounts, audit, AGM, board meeting etc.
6.Today also, they have not received share capital so then what accounts to be finalized and how to take AGM and what needs to be put up in AGM.
7.Further no commencement certificate is obtained. Can it receive share capital now.

Thanks in advance

Rompalli V.B. Swamy   14 July 2009 at 18:25

Service Pay is cancelled as per SC ?

Hi,

Dear All Experts,

There was a option as per AP Shops and Establishment Act that whom ever management removes on either resignation / retrenchment / termination, employee is eligble to get 15 days service pay for each year completed (avg gross).

But recently in feb 2009, it seems SC given a judgement that Service pay need not be paid as its equivalant to the Gratuity.. which comes into action with effect from feb 2009..due to this some company has not paid the service pay.
is it acceptable ?
Kindly reply preferably at swamyhrd@gmail.com

Rompalli V.B. Swamy   14 July 2009 at 18:21

What are the labour laws / acts applicable to a Trust

What are the labour laws / acts applicable to a Trust ?

Hi,Dear all experts..
I got 5 yr hr generalist exp. But now im in a new environment, that is a Hospital which is under Milk Producers, Education and Medical Welfare Trust.

Management does not contribute to anything other than EPF. It seems they got an exemption to ESI. Further, I would like to confirm what are the labour laws / acts / employment terms applicable to a trust hospital when compared to ap shops & establishment and factories act such as gratuity, bonus, exgratia, group insurance, workmen compensation, service pay, notice, notice pay, probationary period, etc.,

please clarify at the earliest, preferably please reply to me at rvbs2@yahoo.com

Tipsy   14 July 2009 at 17:55

After Death of My Fathers, what should I do with his company

The Income Tax Registered and Income Tax Payer Partnership Firm M/s. Inox Services has Three Partnes viz. (1) Late Shri. Jashwant V. Parekh (2) Smt. Surekha.J. Parekh and (3) J..M.Parekh ( H.U.F ). Neither any Sons Nor any Daughter were partner in the same firm. The Managing Partner of the Firm was Late Shri. Jashwant V. Parekh

After his death, The Company viz. M/s. Inox Services is in DORMANT condition i.e. The Company has NO INCOME, but there are expenses of Accountant for Finalising of the Accounts ( whatsoever ) and filing of the Income Tax Return on year to year basis.

As I am not agreeing to that expenses DUE TO NO INCOME, therefore, I would like to close the Firm by dissolving the same and surrender the PAN Card issued to the firm.

My Accountant Mr. Sagar after finalizing the Balance Sheet for the F.Y. 2008-2009,

If you have any suggestions , Please guide

Ranganath   14 July 2009 at 17:16

Medical test after chargesheet

Ld counsels,

Is it possible for a Magistrate to conduct a medical test to ascertain the charges alleged on the accused even after police submitted their final report.

Under what section will the Magistrate excercise such as per.

Even if there is no chargesheet can he order for a medical test on the accused, without any application from the complainant.

Please clarify. Thanks

Guest   14 July 2009 at 16:01

Can an Advocate swear and sign an affidavit ?

Dear Experts,

Can an Advocate swear and sign an affidavit pertaining to an opposition to a trademark?

john   14 July 2009 at 14:56

RTI reply is enough for prooving desertion?

Dear Experts,
After leaving me, my wife stayed at the staff quarters for 2 months and subsequently got her job transfered to her hometown, If I get these details through RTI, is it enough for prooving desertation,if I go for divorce? (we are living separately for 2 years). Please reply.

Garima Taneja   14 July 2009 at 13:07

Alleging wrong statements and submitting FIR

Dear Sir,

i am a law student, who felt in love with a lawyer practicing in Supreme Court of India. I knew this fact that he is married, but, still i was in deep love with him. but he betrayed me and misused my documents and got a credit card issued in my name and later i came to know that his wife was involved with him in getting a credit card of 1.25L limit.
Not only this, i gave some money to his wife with utmost faith and she issued a cheque in favor of me against that amount, when i submitted that cheque in my account i got to know that she got those cheques stopped but later she managed to revoke those cheques and i received the funds in my account but after 15 days i received a letter from my bank that his wife has lodged FIR against me and bank has wrongly credited my account through that cheque. now my bank has restricted the debt facility from my account.

What should i do. He and his wife are trying to take that money from me. They are trying to take everything of my family. However, we used to have a very good family relations.

What should i do. please help

Regards
Garima

Sugandh   14 July 2009 at 12:57

Redevelopment of housing society

Dear Sir/ Madam,

When any builder is going for redevelopment of any housing soiceties which are located in Mumbai and its suburbs and land of which is owned by MHADA, then in such case which kind of consideration builder have to give to MHADA apart from payment for obtaining NOC.

Thanking you,

Regards,

Adv. Sugandh

john   14 July 2009 at 11:11

Can I get salary and transfer details through RTI act?

Dear experts,
My wife working as a staff nurse in a Govt. Hospital.Can I get the salary and transfer details through RTI act. She left me two years ago,stayed in the hospital quarters for 2 months and then got transfered to her native town. Now she filed a false dowry harrassment complaint. Please give your valueable replies.