16 October 2019 at 12:45




15 October 2019 at 09:14

Testing expert



Dear All,

I hereby request the experts in this forum to guide me on the following:

An unlisted public company has offered to its members for allotment of shares on Rights basis. As per the recent MCA guidelines issued issued under the Rule 9A (2) of The Companies (Prospectus and Allotment of Securities) Third Amendment Rules, 2018, wherein it was expressly stated as - “Every unlisted public company making any offer for issue of any securities or buyback of securities or issue of bonus shares or rights offer shall ensure that before making such offer, entire holding of securities of its promoters, directors, key managerial personnel has been dematerialised in accordance with provisions of the Depositories Act, 1996 and regulations made there under”. However on the date of offer i.e. Record date about 70 out of 169 promoters (viz. about 42%) are yet to complete the Demat process.

On completion of the issue period the company conducted a board meeting and issued the shares on rights basis to all those members who applied for shares in such Rights Issue. Funds collected were transferred to the company's current account from the Escrow account.

Is such allotment valid as per law? What is the recourse we have to take action against the management of the company? One of the investors has filed an official complaint with the ROC however there was no action from the ROC.

25 September 2019 at 12:22

Physical share holding

I am allotee in IPOs in1990 and having shares in the form of certificates.
I dont want to sell these shares.
Is it compulsory to hold shares in dematerialised form only?

21 September 2019 at 14:20

Bond money waiver


I am cut working as an AM in Wns, and want to leave the company on marriage terms as it is fixed and I want to shift to other place. During my joining I signed a bond of 1yr and 6months but I want to leave few months before my bond ends. I am currently serving my 2months notice period and the hr is not ready to waive off my bond instead they a asking for 50,000 rupees if I want my experience letter.
Can I get my letter without paying the amount and leave the organisation?


Hello, one of my employee are working with us as full time (8hours). And he have joined another job without informing us and and continue both full time job at same time. He has not resigned from our company. Can I take any legal action against that employee or not?

13 September 2019 at 14:54

Setion 8 company

Dear Sir/Madam

I Am CS Executive Level Student I Just Want To Know That Is Section 8 Company Can Accepts Loan From Banks/NBFCs/Other Financial Institutions? If Company Accepts loan From Individual Then Is It Non-Compliance or Defeat Any Any Provision Of Companies Act 2013?

29 August 2019 at 12:50

Trainee bond

Dear Professionals,

Kindly help me to get a trainee bond for an IT Firm.

Proof of delivery of notice of egm is required to be kept by company

20 August 2019 at 16:23

Proof of delivery of notice of agm

1. Whether proof of delivery of notice of agm is required to be kept?
2. What is the proof of delivery of notice sent via courier?
3. If courier does not come back, is this a sufficient proof of delivery to recepient?
4. Whether denial of notice of agm served by hand shall be treated as notice served? Director after reading notice of agm returned and denied to receive it.


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