Dear All,
I would like to fill Form 1 and Form 32 as part of registering a private limited company (having share capital) with ROC. The directors are father and son. Regarding which I've following queries:
Form 1:
1.) Is it mandatory to fill both 'authorized' and 'subscribed' capital sections of Form 1? Because the 2 directors of the company are also promoters, I don't think any shares need to be 'subscribed'. Also, I feel that under 'authorized' section only 'equity' shares part can be filled as there are no preferencial share holders of the company.
2.) Since the company is private limited, I should NOT mention 'Table A in Section I of Companies Act 1956 excluded' in AOA. Pls. correct me, if I'm wrong.
Form 32:
3.) Can both the directors be the chairmen of the company?
4.) Is it mandatory that only major shareholder of the company be the 'chairman' of the company?
5.) Can 'non-executive director' be 'chairman'?
6.) I would like to mention 'chairman' as 'wholetime director'. Is it correct? Or do I need to mention him as 'Alternate director'. For your information, the other director will be the 'Managing Director'.
7.) I would like to mention an M.Com graduate as 'Manager' of the company and he is not an 'associate' or 'fellow'. Is it OK?
8.) What does the following sentence mean - 'Evidence of payment of stamp duty where qualification shares is involved'.
Thanks in advance for your help and have a wonderful day.
with rgds,
Prasad
CAclubindia
