What is a NIDHI company under the Indian Companies Act?
A NIDHI Company is notified under the Indian Companies Act 2013 under section 620-A and defined by RBI (Reserve Bank of Indian) a Mutual Benefit Financial Company. As it deals only with its shareholders or members, for mutual benefits of its members a Nidhi Company differs from a regular finance investment company or a Non-Banking Finance company (NBFC). The main function of a Nidhi Company accept deposits only its members and lends funds only to them on demand. A company farmed and incorporated as per provision of NIDHI company cannot do business of hire purchase financing, leasing finance, chit funds, acquisition of securities issued by any corporate body, etc. or issue any debt instruments (such as preference share, debentures, etc.)
If a company has Directors, Manager, secretary in their management this entire person required registered their Digital Signature Certificate with MCA portal. ?
No, The person who is authorized to sign and submit e-forms with MCA portal needs to registered their DSC
How many resubmissions are permitted for new E-form Spice +?.
Two resubmissions are permitted for new E-form SPICE + with timeline of within 15 days.
Can LLPs be Registered using e-form Spice +?
LLPs cannot be Registered using e-form Spice +.
Is it possible to windup the LLP as per Indian LLP Act?
A registered LLP can be windup as per provision and process mentioned under the Indian LLP Act, 2008. You can file LLP wind up application in ways. And those are: –
- By filing a declaration letter with ROC as LLP is Defunct: – In case the LLP desires to close down its commercial enterprise or wherein it is not wearing on any enterprise operations for the period of twelve months or more, it could make an application to the Registrar for asserting the LLP as defunct and disposing of the name of the LLP from its check in of LLP’s.
- By filing of application for Winding up of LLP: – It is the system in which all the belongings of the commercial enterprise are disposed-off to satisfy the liabilities of the identical and surplus any, is distributed most of the owners. The info of LLP closure can be visible from the following link1- LLP’s are subject to LLP Act & Rules
Who is authorized to allot the Director Identity Number (DIN) under Indian Companies Act.
MCA issue DIN to all individual person who file an application to issue DIN. Central Government has given power to MCA issue DIN to all kind of applicant who has applied in DIN application form DIR-3.
Can an existing partnership firm registered as per Indian Partnership Act be converted to LLP?
Yes a partnership firm farmed and registered as per Indian Partnership Act can be converted as per LLP Act, 2008 by filling form 17 and Form 2 with MCA portal.
Can an company registered as per Indian Companies Act be converted to LLP?
Yes, A company that is already registered as Private Limited Company or Unlisted Public Limited Company can be converted into LLP at any point in time by filling form for conversion of company into LLP form 18 and form 2 with MCA portal.
Can a company listed on stock exchange be converted in to LLP?.
No there is no such provision under the LLP Act and Companies Act to convert Listed Public Company into LLP.
What Types of Digital Signature Certificates are valid for MCA 21 portal?.
There are different types of Digital Signature Certificates but only class 2 digital signature certificate is valid with MCA portal.
Who issues Digital Signature certificates in India?
Digital signature Certificate is issued by Certifying Authority (CA) as per Indian Information Technology Act. Section 24 of Information Technology act gives power to Certifying Authority (CA) to issue of Digital Signature Certificate to all kind of applicant who has applied for DSC. In Indian Certifying Authority are e-mudhr. Sify, n-code, v-sign. Capricorn.
What is the legal status of a Digital Signature Certificated issued by Certifying Authority (CA)?
As provided under the provisions of Information Technology Act, Digital Signatures are legally admissible in a Court of Law.
Can provisional Director Identity Number (DIN) be utilized for registration of DSC at online MCA21 website.
No, a provisionally issued Director Identity Number (DIN) can be used for registration of DSC since it is provisionally issued and be approved or can be rejected after due verification.
How we can convert private limited company or public limited company into One Person Company
A Private Limited or Public Limited can be converted into private limited company or public limited company by filing E-Form INC-6 with MCA21 portal and after fulfills the following requirement under the Indian Companies Act.
PAID UP SAHRE CAPITAL: – The paid-up share capital of private company should not be exceeding fifty lakh rupees and should not have average annual turnover more than two crore rupees at the time of such conversion into OPC. And
Nominee Member: -The Company shall be having one member and shall appoint one nominee to act as a member in case of death or incapacity of the member at the time of conversion into OPC.