Banking
gopal
(Querist) 24 August 2016
This query is : Resolved
Sir
I being Advocate for Few Bank
Query:
i) A property belong to a Partnership Firm
Can existing partner A & B retire on same day and new partners C & D join on same day.
Or First there should be inclusion of new partners then retirement of old.
ii) The property in revenue records is in name of Firm through Partners A & B.
Having retired is it required to obtain revenue record of Firm Through new partners C & D
iii)What if Partnership firm is not registered?
iv) The property in Title Deed consists of both Diverted and Non Diverted area.Is Equitable Mortgage possible of such Title deed.If yes what can be the constraint; if not any remedy
Guest
(Expert) 24 August 2016
Mr. Gopal,
It is a commercial query, which does not deserve charity service. If you are unable to render appropriate service to the banks, the banks can well afford to hire services of experts from open market.
Even otherwise, your query is purely of an academic nature, not a bank's problem.
J K Agrawal
(Expert) 25 August 2016
Dear Mr Gopal
Please understand nature of 'Partnership'. A partnership firm is having no separate personality and the ownership in the property of a "partnership firm' wests in partners "personally only".
It means one can trade and deal in name of a partnership firm 'only as an individual deals in name of business' Understand - Mr Ramlal is doing business in name of Rupam Fashions. Now Dealing and contracts in name of Rupam Fashion is possible but Rupam Fashion is having no entity of Juristic person.
Persons even advocates of good practice forget this simple principle when they deal with partnership.
So answer of 1 question - it makes no difference as "partnership is only an agreement' nothing else.
Answer 2- Firm is nothing so the individual name required in revenue records.
Answer 3 I know but you can well find it in Partnership act.
Answer 4 Equitable Mortgage possible up to extent to share of one person, may be the document containing others property also. One can mortgage even a small pert of his property like only 2 Acres of land out of 10 acres he owns.
Guest
(Expert) 25 August 2016
Agrawal ji,
The nature of query very well reveals that it was not an advocate's query in service with the bank. Rather, it was an academic query of a law student, as the duplicity of the question reveals, "Can existing partner A & B retire on same day and new partners C & D join on same day. OR First there should be inclusion of new partners then retirement of old."
So, the question was nothing except a law school exercise.
Even if, had it been true to a slight extent, banks have their own full fledged legal branches, not manned with only a single lawyer, but with a group of lawyers. That is why, I refrained from answering his query, as I smelt the query to be not a real problem of a bank.
Moreover, the querist did not give any background/ case history of the firm, whether new partners were inducted after the resignation of existing partners or the inducted first before resignation of the exiting partners. The querist seens to have tried to mislead the members by his statement that he is advocate for a few banks.
I am of the opinion that such people with misleding statements should be discouraged by the members.
gopal
(Querist) 25 August 2016
I am thankful to Mr J.K.Agarwal ji but its regretful that few other instead of giving opinion on the subject matter go up to the extent of blaming /alleging others without knowing the factual.
Mr Dhingra has written too much whcich is very contempeous. If you needed as acaedmic querry you should had posted the same rather straight way balming and showering allegations of unable to rendering appropiate services and misleading etc. Added to it one Senior having answered then again commenting and leveling allegations.
I again repeat the word are very contempeuos and levelling personal allegations which is not warranted in any forum that too of lawyers.
Guest
(Expert) 25 August 2016
Mr. Gopal,
Not my statement revealing fact is contemptuous in any way, but showing wrong identity, making wrong statements and treating members as idiots by any person is definitely contemptuous.
Just tell me, has your bank gone bankrupt that it cannot afford to hire services of some capable lawyer, if you have proved to be incompetent to advise your bank appropriately?
Still further, if you are an advocate, don't you know which section of which act applies to your problom?
Moreover, if you were in the need of any help, were not you required to give complete background of the case, including your own opinion on the case, to ask for clarification of your real doubt, instead of posting an academic query? Even if you are a law student, still that was desirable of you, so that I could feel happy to help you. But you preferred to play over smart treating the responding members as mere idiots. If you treat the members as idiots, from whom you expect help, you can prove yourself to be a big idiot asking for help from them.
The irony is that the students, who don't concentrate on their study material, seek 100% spoon feeding that too by treating others as idiots. That is why I don't prefer to respond to the queries of the students, who don't try to do their own home work and fail to put intelligent question to remove their real doubts about their own opinion by first attempting to work themselves on the classroom exercises.
gopal
(Querist) 25 August 2016
Rather than discussing on the subject matter being so learned ,undue and baseless discussion is being raised.
Not a single discussion on the querry has been done rather than long discourse has been submitted . If one feels so disgraced that such question as raised art not upto one `s level he is not bound to reply.The querry was not specefic to any member. I guess this is forum to discuss on the querry and not on the querist.Earlier too I had queried on various issues and it has been resolved.
With his statement only what does mr Dhingra wants to convey to the respected member who resolved the querry without any background queries despite such baseless allegations.The forum should decide before including members as such experts.
Guest
(Expert) 25 August 2016
Mr. Gopal,
Your expectation from me to hold tutorials for the students that too with fake identity is quite uncalled for. Neither I am fond of dicussing on hypothetical and fake problems, nor I am compelled to help you with 100% spoon feeding, if others prefer to do. Only deserving people can expect help from me.
gopal
(Querist) 27 August 2016
First time in history of this Forum its seen use of such filthy language on asking a Querry.Suo Motto matter has been aggravated Under which Section of Constitution of India such criteria is fixed to decide deserving and non deserving Querist.Are Suo Motto opinion on querist is made by the question as put up and filthy language is used.With such attitude nothing remains to be expected from any one.
Guest
(Expert) 28 August 2016
Mr. Gopal,
First time in history, I have also come to know that the banks, who afford to get swindled away hundreads and thousands of crores of the public funds by their customers are trying to get free advice through their incompetent advocates.
Further, first time in history, I have come across a person claiming himself to be to be an advocate of banks and supposed to be charging hefty fee from them, renders his various banker clients borrowed advice received by him on charity.
Still further, first time in history, I have seen an advocate that tries to impress the readers with use of wrongly spelled legal jargon "suo motto." About your statement "Are Suo Motto opinion on querist is made by the question," you may better try at first to know the right legal term for your wrongly used term, suo motto and then try to find meaning of the right term, "suo motu"
Any of your vague plea may not help you to extract answers to your vague and false problem from the members of the forum. Suo motu advice of members depends solely on their own discretion, not your wishes. At first, you have need to ensure revealation of your correct identity.
gopal
(Querist) 01 September 2016
Mr Dhingra,
As per discretion only subject Query been resolved by Competent Expert Member.Other views are immaterial and meaningless.
Guest
(Expert) 01 September 2016
Mr. Gopal,
That was in response of your remarks against me, as you preferred to bring history in to your remarks.
Closing the query as resolved by casting aspersions on any member was urrelevant, immaterial and meaningless.
