Company law

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 August 2015 Dear All

In most of the cases, in the CA, 2013 and the Rules made thereunder, the provisions of the Act depends upon some figures as per last audited Balance Sheet. What will be the figure in case of a newly incorporated company whose Balance Sheet is yet to be prepared ?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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04 August 2015 NIL, as co is new and does not have any past financial transaction.

Querist : Anonymous

Querist : Anonymous (Querist)

05 August 2015 Thanks for Reply.
Is a newly incorporated company eligible to make related party transaction under section 188 of CA, 2013 having transaction value of any amount ?

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CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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05 August 2015 Yes in case the applicable provisions are fulfilled and properly disclosed as per sec 188