Can the Company pay remuneration to its Managing Director and Whole Time Director on availability of sufficient profit upto prescribed rates provided in the Section 197 of the Companies Act, 2013 on Net profit of the current year, even though the Central Government has fixed their remuneration for a particular period.

Hi All,

I would Like to know, the procedure for a resign and admission of Designated Partner of LLP.

The Company has converted in to LLP and by the time of conversion one of the shareholder has transferred his shares to other person.

Now, when the converted LLP is approved, it is showing the Partner as per the old share holders.

What should be the formalities to inform ROC regarding the change in Shareholder/Partners?

whether a private limited company can borrow funds from LLP? or is there any exemption to private limited company in section 73 of deposits rules.Plz urgent to be clarify

Who can be appointed as Internal Auditor-

According to Section 138 under companies act 2013, this line is used ... "Chartered Accountant, or a Cost Accountant, or such other professional as may be decided by the Board to conduct internal audit'


Regarding other professional as may be decided by the Board.

This should be external professional or any internal professional can be there.

What is the meaning of professional.

provisions contained in rule 14 of companies act (prospectus and allotment of securities rule) are for private offer or public issue of shares or given in general i.e. some rules are for private issue and some relate to public issue of shares?

Can someone please explain what is Global Depository receipt in simple terms and how it works,i am finding it difficult to understand the procedure of issuing GDR in india u/s 41 of companies act 2013.pls dont use law language as i am an ipcc student(beginner) and want to understand.

One of our client recently got paid up capital increased to 5 Crores and due to this ROC has sent Show cause notice to all the directors why they have not appointed full time company secretary in company"

Now we are planing to buy back some equity so that paid up capital goes down below the 5 Cr. threshold. Then what is the procedure of buyback by the pvt. ltd.
We increased capital just 2 months ago.

And 2nd question is how to deal with Show cause notice received from ROC. Pls suggest its urgent

who has the power to cancel companies forms (form 32 , 20b &18) which was filed by making forged documents?
if authorised person does not cancel these forms then where appeal can be filled?
and what will be punishment of these authorised person as per companies act,2013?

We have two partnership firm and want to convert into private limited. Firm have four partners.

Section 174 of Companies Act , 2013 says that if Board Meeting can not be held for want of Quorum then that meeting shall automatically stand adjourned next week, same time & place but how much time for waiting of Quorum to present in Board Meeting or how much time directors should wait for quorum to adjourn the meeting ??