P. K. Pandya & Co.

Director given his property to company on rent and taken deposit from company - whether deemed dividend

Tue, 17 Jan 2012 17:28:04 +0000

The assessee was director of a company and was holding less than 10 per cent shares in the company at relevant time. He had given his property to the company on lease on 16-3-1998 at a monthly rent...

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Can court accept higher bid once tender is accepted and tender period is over?

Tue, 17 Jan 2012 17:25:38 +0000

Ordinarily, Courts are reluctant to accept an offer made by any bidder or a third party after acceptance of the highest bid/offer given pursuant to an advertisement issued. However, keeping in view...

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Constitutional validity of rule 8(5) of the Security Interest (Enforcement) Rules, 2002

Thu, 29 Dec 2011 09:57:26 +0000

Constitutional validity of rule 8 of the Security Interest (Enforcement) Rules, 2002 was challenged in the instant writ. The ground of challenge to Rule 8(5) is that the authorised officer is...

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After the approval of the scheme of amalgamation, transferor company demanding transfer charge per sq ft – how far justified

Sat, 24 Dec 2011 15:37:23 +0000

A scheme of amalgamation was approved by the High Court between the applicant and the respondent. As per the scheme, all the assets and the properties of the transferor companies (respondent) will be...

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Unlisted Public Companies (Preferential Allotment) Amendment Rules, 2011

Sat, 24 Dec 2011 12:16:07 +0000

[quote=support]What should companies who have already accepted share application money as till 13/12/2011 do?[/quote] All those companies who have passed a resolution for preferential allotment and...

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Unlisted Public Companies (Preferential Allotment) Amendment Rules, 2011

Sat, 24 Dec 2011 12:13:31 +0000

What should companies who have already accepted share application money as till 13/12/2011 do?

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Unlisted Public Companies (Preferential Allotment) Amendment Rules, 2011

Sat, 24 Dec 2011 12:08:50 +0000

[justify]After this amendment, preferential allotment means not only shares but any other instrument convertible into shares including hybrid instruments convertible into shares issued on...

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Share Application money in cash

Sat, 26 Nov 2011 20:22:39 +0000

View is confirmed by Delhi ITAT in ITO v. Nandi Promoters (P.) Ltd. [2011] 13 taxmann.com 213 (Delhi - ITAT) - where it was observed that increasing the authorized capital has its own procedures...

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Know your Income Tax Jurisdiction

Tue, 22 Nov 2011 15:35:00 +0000

If you know PAN number, you can find out your current jurisdictional Assessing Officer (AO) from http://www.incometaxindiaefiling.gov.in click on “Know Jurisdiction” under “SERVICES”. Enter PAN...

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FEMA- Realisation and Repatriation of Export Proceeds

Mon, 14 Nov 2011 11:58:41 +0000

The period of realization and repatriation to India of the amount representing the full export value of goods or software exported, from six months to twelve months from the date of export. This...

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Relaxation in Transfer of Shares - Resident to Non-resident and non-resident to resident

Mon, 14 Nov 2011 11:56:15 +0000

Until now, the transfer of shares from a Resident to a Non Resident where :- A) the transfer does not conform to the pricing guidelines as stipulated by the Reserve Bank from time to time; or B)...

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Workmen's Compensation Act is now Employees Compensation Act

Wed, 19 Oct 2011 13:03:44 +0000

Hi. This post is very impressive and useful I gather all the related knowledge regarding employee compensation act from this post. I was looking for the same information. This post sort all my...

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Can a petition for winding up of a defaulting company be filed which already has a pending case in Debt Recovery Tribunal?

Sat, 15 Oct 2011 18:37:10 +0000

The Respondent (R1), an assignee of State Bank of India, had granted various loans to the applicant company. The company was however in arrears of more than Rs. 2.66 crores, for which R1 had issued...

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Corporate Laws

Sat, 08 Oct 2011 19:33:31 +0000

can anybody e-mail me the procedure and required resolution of board meeting and general meeting for conversion of preference shares into equity shares?

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Corporate Laws

Sat, 08 Oct 2011 19:31:30 +0000

Can anybody explain me the procedure for conversion of preference share capital into equity share capital and resolutions required for the same?

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What will you do when your company, directors, auditor and company secretary receive show cause notice from Regional Director for violation of Companies Act?

Fri, 07 Oct 2011 19:21:31 +0000

Upon reply to show cause notice, if Regional Director is not satisfied – then is likely to launch prosecution. And since prosecution is criminal in nature, the same is filed with the Magistrate...

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Stamp Duty upon increase in authorised share capital

Tue, 17 May 2011 15:30:07 +0000

The Petitioner questions the authority and competence of the Registrar of Companies (ROC) and the Collector of Stamps, Government of National Capital Territory of Delhi (GNCTD), to levy and collect...

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Schedule XIII of Companies Act_notification dated 8th Feb, 2011

Thu, 17 Feb 2011 16:39:15 +0000

[b]Managerial Remuneration in unlisted companies having no profits/ inadequate profits [/b] Public limited companies (listed and unlisted) with no profits/ inadequate profits are currently required...

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Section 212 - General Circular dated 8th Feb, 2011

Thu, 17 Feb 2011 16:31:50 +0000

[b]General Circular No. 2/2011 File No. 51/12/2007-CL-III[/b] Section 212 of the Companies Act, 1956 requires holding companies to attach with their balance sheet a copy of the balance sheet, profit...

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Sec 211-notification dated 8th Feb, 2011

Thu, 17 Feb 2011 16:26:17 +0000

[b]Notification and Press Release dated 8th February, 2011.[/b] Section 211 of the Companies Act, 1956 requires that the balance sheet and profit and loss account of a company shall be in the form...

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Steps for Incorporation of LLP

Mon, 13 Dec 2010 18:05:02 +0000

[center]DETAILS REQUIRED FOR FILLING LLP FORMS[/center] [b]Form 1 [/b] Please note that if the business includes banking, insurance, venture capital, mutual fund, stock exchange, chit fund,...

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Arrears of ESIC in company under winding-up ranks pa par with Govt u/s.530 and not in preference to secured creditors

Tue, 14 Sep 2010 17:46:24 +0000

Regional Director, ESI Corporation v. Kera Sinter Ltd. [2010] 100 SCL 356 (AP) The Court ordered winding up of the Company. Official Liquidator was permitted to invite claims from creditors during...

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