As per section 142, remuneration shall be fixed by company in GM and in case of 1st auditor by BOD. now my query is 'in case of casual vacancy who will fix the remuneration?' because appointment is made by BOD but after appointment of auditor as per section 139(8) of the company..their is no requirement of conducting any EGM where members can fix the remuneration and BOD can fix remuneration of 1st auditor only as provided in section 142 what will be the answer to above query..please give your views
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Answer nowDear all,
We are in a situation wherein we r required to allot shares for consideration other than cash. however we cannot go for private placements due to certain issues. and now we contemplate to go for Rights issue and then ask the existing shareholders not to exercise there option. once the option is not exercised, we then plan to conduct a board meeting and then allot shares to our selected buyer for consideration other than cash(as once the shares are not bought under rights issue, board can allot shares to anyone in the interest of the comapny). I request the learned members of the group to guide whther the transaction would voilate any provisions of the act.
Dear Sir, Can u please tell me what is the procedure to check shareholders and their shareholding after logging in as registered user the MCA portal and by paying 100 rupees. Thanks in advance
Answer now
Live class on PF & ESI Enrollment & Returns Filing(with recording)
Remuneration of Auditor