I need advise, whether we can pay local payment in USD. Vendor registered in india and purchase invoice will be issued in USD. for contract execution outside india.

While incorporating Sec 8 Company, What should we write in Point 1(1st Point Alteration) of AOA(INC 31)

Can we use the name of a State/ UT or India in the name of a proposed Company?

Pl revert asap. urgent.

Thanks.

For a Private Limited Company having turnover of Rs.500 CR

My questions is whether Internal audit is compulsory ?
If yes then should it be conducted by Chartered Accountant only ?

A company have received amount from Mr. A's NRE Account and wants to issue NCCPS in lieu of this amount but could not issue the NCCPS due to some RBI guidelines. Now He wants that company will issue NCCPS in favour of his daughter who is already a shareholder of the Company. And that amount shown as gift given by father to his daughter.

Is it possible for company ??

or if company wants to refund the same then can company will refund that amount to his Residential account other than NRE Account ???

Kindly resolve the query as earliest.

We are in the process of updating from v2 to v3 . And the email id which is registered , is already registered for another company. So i tried changing the email id on v2 profile and then tried updating to v3. While doing so the MCA is throwing an error " Error in email id" and hence i am not receiving otp for proceeding further. Tried raising a query on mca again unable to do so.

Kindly advise how to proceed and upgrade the user id to V3.

A company's balance sheet

ESC 100 BANK 400
PSC 50
P&L (300)
G/R 50
LOAN 500

Can the company redeem it's preference share by using general reserve and kindly tell me , is it bad for creditor and members.
Kindly explain it . No one gave me
Answer .

and if yes, is that activity should be mentioned in the objectives of the company?

Hello All,

A company did its AGM on shorter notice and got consent from two shareholders/members out of four who holds more than 95% of shares of the Company.

So that shorter notice consent is valid or need to take consent from all four shareholders/members of the Company ????

Because somewhere mention:
The provisions of section 101 now mandate the consent of 95% of members
entitled to vote in case of any general meeting. Hence, the number of shares held
are immaterial. Companies (Amendment) Bill, 2016 proposes to substitute the
above proviso with the following to restore the earlier proviso:
“Provided that a general meeting may be called after giving shorter notice than
that specified in this sub-section if consent, in writing or by electronic mode, is
accorded thereto—
(i) in the case of an annual general meeting, by not less than ninty-five per
cent. of the members entitled to vote thereat; and
(ii) in the case of any other general meeting, by members of the company—
(a) holding, if the company has a share capital, not less than ninty-five
per cent. of such part of the paid-up share capital of the company
as gives a right to vote at the meeting; or
(b) having, if the company has no share capital, not less than nintyfive per cent. of the total voting power exercisable at that meeting:
Provided further that where any member of a company is entitled to vote only on
some resolution or resolutions to be moved at a meeting and not on the others,
those members shall be taken into account for the purposes of this sub-section in
respect of the former resolution or resolutions and not in respect of the latter.”

Dear Sir / Mam,

Our company had filed mgt-14 for alteration in articles on 6th April, 2023, which is still pending for approval.

I had raised ticket for the same wherein they replied that it is under process.

But can anyone let me know if the approval for MGT-14 normally takes how many days approx?