Quizz: Please find relevant answers

[gaurav]

Pl find relevant answers to the below

 

a.       Stamping of share certificates :   Pvt co having paid up capital of Rs 1 lac being shares allotted to subscribers to MOA . However these are not stamped as per  Karnataka Stamp Act and hence can the same is done retrospectively .And if so is there  any penalty ?

 

b.      Change of address :  Continuing the above we have changed the registered office of the Pvt Co and now if we are regularizing the stamping procedure the share certificates needs to be in new address or old one ? 

 

 

c.       Share allotment  receivable :   In one case  of a pvt co which has 2 foreign directors only .The remittance towards the minimum allotment of  Rs 1 lac  was recd after March ending and for ROC filing and mandatory requirement of having minimum paid up share capital of Rs 1 lac needs to be complied with . Pl explain how shall the auditor make the accounts and disclosure for March 10 ending.

 

 

 

Reply with justification.

 

 

CS Gaurav Shenoy

Bangalore

 

 

[Sridevi B.N]

On Fri, Oct 29, 2010 at 3:42 PM, gaurav <gau...@indusfila.com> wrote:

Pl find relevant answers to the below

 

a.       Stamping of share certificates :   Pvt co having paid up capital of Rs 1 lac being shares allotted to subscribers to MOA . However these are not stamped as per  Karnataka Stamp Act and hence can the same is done retrospectively .And if so is there  any penalty ?

 

you please affix Rs.1 stamp duty on the share certificate.

 

than it wud insufficient of stamp duty can be pad now by paying stamp duty.

 

b.      Change of address :  Continuing the above we have changed the registered office of the Pvt Co and now if we are regularizing the stamping procedure the share certificates needs to be in new address or old one ? 

 

old address

 

c.       Share allotment  receivable :   In one case  of a pvt co which has 2 foreign directors only .The remittance towards the minimum allotment of  Rs 1 lac  was recd after March ending and for ROC filing and mandatory requirement of having minimum paid up share capital of Rs 1 lac needs to be complied with . Pl explain how shall the auditor make the accounts and disclosure for March 10 ending.

 

 ....

 

Reply with justification.

 

 

CS Gaurav Shenoy

Bangalore

 

 

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[Jayashree Chandrasekaran]

c.       Share allotment  receivable :   In one case  of a pvt co which has 2 foreign directors only .The remittance towards the minimum allotment of  Rs 1 lac  was recd after March ending and for ROC filing and mandatory requirement of having minimum paid up share capital of Rs 1 lac needs to be complied with . Pl explain how shall the auditor make the accounts and disclosure for March 10 ending.
 

 For Companies Act purpose maybe you can close the financials after the receipt of funds so that you will not have the minimum capital problem

 

Jayashree 

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C.JAYASHREE

PARTNER

S.GANESH&ASSOCIATES

CHENNAI

98840 17120

[gaurav]

In case (a) , can stamping be done at retrospective effect? No penalty?

 

CS Gaurav Shenoy

 

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