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PDF Editor FAQ

What documents are required for opening a current account of private limited firm?

1.MCA site copy2.COI3.MOA & AOA4.BOARD RESOLUTION SIGNED BY TWO DIRECTORS OR COMPANY SECRETARY5.COMPANY’S PAN CARD6.LIST OF DIRECTORS WITH CURRENT DATE AND COMPANY LETTER HEAD7.BENEFICIAL OWNERSHIP DECLARATION8.CASH CREDITS DECLARATION9.ALL DIRECTORS KYC (AADHAAR CARD MANDATE)10.OPERATING DIRECTORS PHOTO & SIGN

Can I become the sole owner of a private limited company via beneficial ownership?

Yes you can. You can choose a nominee to comply with the requirement of having minimum two shareholders and be the beneficial shareholder of shares held in the name of your nominee. You and the nominee shareholder will have to file declaration with the company and the company will in turn have to file declaration to the Registrar of Companies declaring such beneficial interest in the shares.Form MGT 4 is the declaration filed by registered owner of share to the CompanyForm MGT 5 is the declaration filed by the beneficial owner to the CompanyForm MGT 6 is filed by Company to Registrar in respect of declaration received by the Company as per form MGT 4 & MGT 5.Disclaimer: The above is for general information and is not intended to be nor should it be relied upon as a legal opinion.

How and when will the ITC dividend be credited which is declared 10.5/share?

Dividend for the financial year ended 31st March, 2020The Board of Directors of the Company, at the Meeting held on 26th June, 2020, recommended dividend of Rs. 10.15 per Ordinary Share of Re. 1/- each for the financial year ended 31stMarch, 2020, subject to declaration of the same by the Members at the 109th AGM.The Register of Members of the Company remained closed from Wednesday, 8th July, 2020 to Thursday, 9th July, 2020, for the purpose of payment of dividend.Dividend, if declared, will be paid on Tuesday, 8th September, 2020 to those Members entitled thereto and whose names appeared in the Register of Members of the Company on 9th July, 2020 or to their mandatees, subject however to the provisions of Section 126 of the Companies Act, 2013. In respect of dematerialised shares, the dividend will be paid on the basis of beneficial ownership as on 7th July, 2020, as per details furnished by National Securities Depository Limited and Central Depository Services (India) Limited for this purpose.Unclaimed DividendUnclaimed dividend for the years prior to and including the financial year 2011-12 has been transferred to the General Revenue Account of the Central Government / the Investor Education and Protection Fund (IEPF) established by the Central Government, as applicable.The dividend for the undernoted years and sale proceeds of fractional entitlements, if remaining unclaimed for 7 years, will be transferred by the Company to IEPF in accordance with the schedule attached. Click here for the schedule.Source: https://www.itcportal.com/about-itc/shareholder-value/investor-relations/general-information.aspx

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