What is the validity of a valuation report given under Sec 62 (1) (c) of the Companies Act, 2013?

In MGT 9, we have to mention NIC CODE as per our Business Activity. Which NIC code list is to be referred for mentioning of NIC code in MGT-9. NIC- 2004 or NIC-2008. I have seen in annual report of listed companies they have mentioned code of NIC 2008

Is it necessary to obtain valuation of shares to be bought back by a private company (with the approval of shareholders as 20% shares are proposed to be bought back)? Thanks

Section 139(2) governs the rotation of Auditors. Rule 5 of Companies(Audit and Auditors Rules),2014 lists entities required to rotate the Auditors as prescribed.Clause (c) of Rule 5 includes Companies having Public borrowings from financial institutions, banks or public deposits of Rs. 50 crores or more. What is the meaning or relevance of the word 'Public Borrowing' instead of plain word 'Borrowing' used in the rule. Will borrowings from foreign banks like C C or OD limit be a public borrowing.

Can a subscriber to MoA renounce his subscription in favor of a third party without paying the subscription amount immediately after the company is incorporated

Sir, After incorporation of Private Limited Company can first subscribers relinquish equity share subscription into other investors without paying subscription amount. Thanks and Regards, Srinath

Dear Sir, How can i approve the financial as one the directors is foreign director? I need to file previous year annual return and quorum was not available at the time.

Sir whether a subsidiary company whose holding doesn't have any SBO need to file BEN 2 return?

Sir In terms of Rule 3(6) of Co. Incorp. Rules, is it like that OPC cannot make inter corporate loans and investments since Non-Banking Financial Investment activities including investment in securities of any body corporates is not defined in the Act

After following thwe procedure as per section 236 MR A was entitled to get 500 shares of B The consideration was given to company and kept in separate account After the last day of the period the act provides that the company will itself transfer the shares acting as agent The company tendered the consideration but shareholder did not en cash . Where the company will deposit this fund . is there any requirement like that in case of unpaid dividend All the other formalities are complete

Dear Sir, In a Private Limited company with 7 executive Directors -out of which 5 directors were residing outside India - can remaining 2 directors based in India form requisite quorum and pass resolution in Board Meeting. Appointment of Company Secretary in the Company was mandatory and urgent so with 2 Indian Directors - quorum was formed and appointment of secretary was done.

This is in regard with format of report provided under Regulation 10(7) of SEBI (SAST) Regulations 2011, in respect of any acquisition made under exemption provided in regulation 10(1)(a)(i) in such format, clause (h) of point no 7 requires disclosures under chapter V, so kindly guide us,of how many years of disclosures , already made, under Chapter V of the Takeover Regulations (corresponding provisions of the repealed Takeover Regulations 1997), required to be attached?

can madnatory provision of company law regarding CSR be challanged as ultra vires it does not come within administratve aspect of company affairs it affects the right to property individuals firms having much larger profit are not required to spent is it discriminatory is CSR compulsory in Europe Us

Sir, If managerial remuneration is fixed by special resolution for 3 years (due to inadequate profits), can it be again increased before period of 3 years of original special resolution?

Can a holding company provide interest free loan to subsidiary. In my view, it is not allowed as the exemption is only from SR under section 186(3). Please guide

Can Interim Dividend be declared out of free reserves. If no, then does this mean that section 123(1) is not applicable to interim dividends despite the fact that under section 2(35) dividend includes interim dividend. Please guide

ABC Pvt Ltd had 10 shareholders/Members. In 2012 one member died. Till date no heir of the deceased member has applied for membership / transmission. What is to be done with such shares which the deceased member was holding?

1).Can a private limited company hold current accounts in the name of the MD for operational convenience, if approved by Directors by resolution. 2).In the books of the company, if it is treated as bank accounts of the company in BS as current account any additional disclosure required.

When Trust and There two trustee of same Trust are individual shareholder in a company then in which shareholder the shares of trust will be clubbed. Same question in case of partnership firm/LLP where three partners are individually shareholder along and firm is also shareholder.

Sir Ours company has all the foreign directors and they are at present residing outside India. How: 1. the board meeting should be conducted to approve the F.S. Do they need to visit India specially for this purpose 2. the signatures can be made on such F.S. Do we need to appoint additional director in India or do they need to authorise some representatives here in India