Private company incorporation
This query is : Resolved
N.Harish Ballal
(Querist)
04 December 2013
Dear Sir,
A client who has 7 years of experience as an ASSISTANT DIRECTOR in FILM INDUSTRY has approached us.He wants to incorporate a PRIVATE LIMITED COMPANY.He told that doesn't have any financial support from his family.
He is ready with story,script,technical team & everything else except for money.
Proposed budget for film is 1crore.He is planning to collect this from 100 people who invest 1lakh each.
Query:We are not sure about the background of the client.So what if the client collects 1crore & runaway?
Since the CA signs MOA, AOA,what is the risk of CA?
A client who has 7 years of experience as an ASSISTANT DIRECTOR in FILM INDUSTRY has approached us.He wants to incorporate a PRIVATE LIMITED COMPANY.He told that doesn't have any financial support from his family.
He is ready with story,script,technical team & everything else except for money.
Proposed budget for film is 1crore.He is planning to collect this from 100 people who invest 1lakh each.
Query:We are not sure about the background of the client.So what if the client collects 1crore & runaway?
Since the CA signs MOA, AOA,what is the risk of CA?
Ajay Mishra
(Expert)
04 December 2013
No risk for CA.
If the promoter want to incorporate a private company they can incorporate company with 100 members as per new Companies Act, 2013.
CA will only check the compliance provisions.
If the promoter want to incorporate a private company they can incorporate company with 100 members as per new Companies Act, 2013.
CA will only check the compliance provisions.
N.Harish Ballal
(Querist)
04 December 2013
Thank You for your reply sir.
Ajay Mishra
(Expert)
04 December 2013
My Pleasure...........
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