Chain holding

answered on 04-Mar-24 12:32

What is mean by chain holding Please let me know

latest answer

For example if company A owns significant shares of company B and company B inturn owns significant shares of company C.This creates a chain like structure called chain holding. This means company A indirectly influences company C through it's control over company B

Sai Ram

CA Inter

★ 540

1

77

Difference between Striking of Name and Winding Up

answered on 02-Mar-24 20:17

Hi ma'am, hope you're well. Our study material says that for a company already incorporated, for cancellation of reserved name after incorporation, the Registrar may either: i) Direct company to change name ii) Take action for striking off the name from register of companies iii) Make a petition for winding up of the company What is the difference between ii) and iii) of the above, please? Thanks

latest answer

The fundamental difference between winding up and strike off lies in their applicability to companies. Strike off is applicable to inactive companies with no assets or liabilities, while winding up is for actively operational companies with assets, liabilities, and a need for formal closure.

Devaprasad Jothimani

CA Inter

★ 0

1

79

Incorp of Co

answered on 27-Feb-24 19:34

Wrt Nidhi Co Declaration of what will be given by CG ?

latest answer

Truth I’ll tell myself the last line further

Sushmita Chowdhury

CA Inter

★ 710

3

89

Small share holder

answered on 26-Feb-24 11:49

What is "not liable to retire by rotation" When the tenure is 3 yrs and reappointment is not possible

latest answer

It states that unless it is provided by the articles of the company, 2/3rd directors are liable to retire by rotation and 1/3rd are liable to retire at every general meeting after the meeting at which first directors are appointed.

Christeena Ambel

CA Final

★ 0

1

77

Independent director

answered on 25-Feb-24 16:33

Can a private company voluntarily appoint an independent director?

latest answer

yes

Christeena Ambel

CA Final

★ 0

1

57

Current account transactions- schedule 2

answered on 25-Feb-24 19:00

Why there is a payment made in import in cfu agreement, isn’t the seller is the one who is making that payment? In import we are the buyer right?

latest answer

c.i.f basis means the seller is responsible for the costs of transporting the cargo and obtaining insurance to protect the buyer from any damages to the goods during transport.

Liz James

CA Inter

★ 2K+

3

65

General clauses of act

answered on 25-Feb-24 16:33

Please Explain this is in simple way

latest answer

When a letter is sent by registered post and the receiver refuses to accept it or is unavailable for many days, the letter is returned to sender with endorsement "Not claimed/Not met". Court says that this even will be treated as proper serving of notice (Unless the receiver can prove other wise)

07- Issac Jolly-XII C

CA Inter

★ 8K+

1

70

LLP

answered on 25-Feb-24 23:17

Can someone explain the below example pls I didn't understand fully.??

latest answer

Well understood ,well said Thanks a lot ma'am 😀

Balachandar S

CA Inter

★ 59K+

2

82

Appointment of Auditors

answered on 24-Feb-24 12:04

Mr. M and Mr. N are directors of MN pvt ltd. Mr. M is also a director of ABC pvt ltd Mr. N is Partner in the Audit firm called N&O Co. Can Mr. O, who is also a partner in N&O co, appoint as a auditor of ABC Ltd? Mr. N & Mr. O are qualified CA's.

latest answer

N is director( kmp) of MN Ltd..not ABC pvt Ltd Where only M is KMP in MN Ltd and ABC pvt Ltd Mr. O can be appointed as an auditor because partner N is not KMP , employee , or officer in ABC pvt Ltd

dundi Dundi

CA Inter

★ 8K+

4

96

🤔Is Byju's EGM held on 23rd Feb 2024 (Today) to remove founder Byju Raveendran as CEO valid? Let us know your answers and check your understanding of Corporate Law!

answered on 14-Mar-24 10:39

The EGM called by shareholders with a combined stake of over 32% in Think & Learn Pvt Ltd (company owning BYJU's). The shareholders of edtech major Byju’s on Friday voted to remove founder Byju Raveendran as the CEO of the company. “Shareholders unanimously passed all resolutions put forward for vote. These included a request for the resolution of the outstanding governance, financial mismanagement and compliance issues at Byju’s; the reconstitution of the board of directors, so that it is no longer controlled by the founder of T&L; and a change of leadership of the company,” However, the company has rejected the vote and termed the process ‘invalid’ as the founders were not present during the Extraordinary General Meeting that was held on Friday. Let us know your answers!

latest answer

During the hearing, BYJU’S counsel argued that there were serious discrepancies in the affidavits filed by the investors’ representatives and this potentially amounted to “perjury”. The court directed both sides to make submissions on the issue before the next hearing.

CA Suraj Lakhotia

Admin

14

491