Partnership firm can invest in a company Query: We have a query that can a partnership firm invests in equity shares of a company. If yes, then what are the relevant provisions? Answer: Partnership firm cannot hold shares in its name as firm is not an entity or artificial person. However Partners of the firm can hold shares in the company… Read More »
Query: We have incorporated a private limited company with INC-29 and form is duly approved and certificate is duly issued. Now, Our query is whether we have to file separate Form INC-22 for registered office because our office address is same as mentioned in form inc-29 which is duly approved? Answer: In case you had mentioned the… Read More »
Query: I would like to know that How much loan can be taken by a Pvt Ltd company from its Directors and what are the legal requirements to be fulfilled by the company in this respect ?. Answer: As per Section 180(1)(c) of the Companies Act 2013, Companies are required to pass Special resolution in the… Read More »
Query: Is consolidation of financial statements required if a company does not have any subsidiary company but has 1-2 associate companies. Answer: No, As per the Companies (Accounts) Amendment Rules, 2014 dated 14/10/2014, Consolidation of financial statements shall not be required in case a company does not have any subsidiary company but has associate companies. Corporate Law:–… Read More »
Query: one of Private Limited Company has 5 directors out of which 4 directors are directors of unlisted public limited company. Further Unlisted Public Limited Company has total 6 Directors. There is no shareholding of company in each other. But, Directors and relatives hold 100% shareholding in both companies. Also, Turnover of Pvt. Limited… Read More »