Rasesh's Expert Profile

Queries Replied : 1670

About me

I am working as Company Secretary and Sr. Manager Accounts in a Public ltd co. in Vadodara. I handle Secretarial, Accounts, MIS and Costing functions for the Company. My qualifications are CS, CWA, MBA (Fin), B.Com and LL.B (Special).

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sarah says : Hello my dear
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Nandesha says : Start Finance company
- I wisht to start a finance company. -I have a set of existing friends and relatives who shall Lend me Money on interest :in other words i would accept deposits. -on the other hand i have set of clients who i lend money on a higer interest and earn profits. - i wish to give this a legal phase with proper parers and documentations for my safety. * I am a lay many with sources * I do not wish to invole other individuals in authority-risk- resposisblity or even bev=nifits Please help me with all possible knowledge andinformation relative to my querry

AKASH THOBHANI says : query regarding NBFC company
Respected Sir/Madam, My object clause of the proposed LLP is as follows: To carry on activities of investment in shares, debentures, stock, debenture stock, bonds, notes, mortgages, obligations, etc. and to carry on business of providing investment & financial consultancy/ advisory and other related consultancy/ advisory services. The R.O.C. says that the object of the company attracts provision of NBFC company. I want to have a non-NBFC company i.e. LLP. so what should be my object clause. PLease reply at the earliest.

vikram says : Asset finance company under section 25
Dear Sir, I have only one doubt. As per RBI norms anybody who would like to do asset finance business he should take license from RBI and for that minimum net owned fund is Rs. 5.00 Cr. The same rule is applied to micro finance company. However, under section 25 company there is no rule for Rs. 5.00 Cr for micro finance company. Now I would like to know that with the help of Rs. 25.00 lac can I start the business of asset finance. My ultimate aim to start a section 25 company is only to do asset finance business and I know that micro finance type business one can do but I am not interested in that part. So please solve my query Yours sincerely, Vikram Mody

Abhishek Jain says :
A public co having a director who is Chairman & managing director . As per section 317 a MD can be appointed or reappointed for a max 5 years . so can a CMD be non rotational director as per 255 . does normally public cos make there md non rotational . if yes then wat is the relevance of section 317