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T Nageswar Rao   09 August 2008 at 15:42

Company Law - Regading transfer of shares

Dear All,

Company A is situated in Karnataka,it has allotted shares to company B at premium, which is situated in mumbai. Now company B wants to tranfer those shares to its own directors at face value. Let us know 1.whether transfer can be made at face value whereas it has been allotted at premium?
2.Whether answer will be differ if there is only two days gap between both the transactions.
3.As Company B transfree, is situated in Mumbai,whether stampduty need to be paid as per Maharatatra or karnataka?

Nitin   09 August 2008 at 08:39

Punjab Civil Services Rules -- Rule No: 7.26A of Volume 2

Dear Sir,

I want to know whether Rule no 7s.26A of Punjab Civl Services Rules is applicable or not on the Retired Cheif Engineer of Dakhshin Haryana Bijli Vitran Nigam, Haryana (Erstwhile Haryana State Electricity Board).

This rule is regarding commerical employment after retirement and is generally applicable for State Services Class I.

Please advise. If you need any further information, Please feel free to call me on 9717391260

Thanks

bhuushan bankar   08 August 2008 at 18:11

the workmen's compensation Act 1923

Needs a judgement on the ground that maternal relatives are not entitled to claim, if also they are the only relatives alive of the deceased and also if these relatives are earning poorly.

B R 123456   06 August 2008 at 11:08

QUERY REGARDING FEMA ACT

Dear Expert,

Could you please answer this querry:

Ours is a private limited co with Authrised Capital of Rs.1.50 crore and paid up capital of Rs.89 lakhs. Company has four share holders all are from one family and are NRIs since 1997. Company established in 1989. It has 3 directors 2 promoter directors and one salaried Director.

One of the promoter directors established a company in UK (closely held). This company in UK wants to buy shares worth Rs.50 lakhs in our company at par.

1.Can you guide me how to received the money?
2.What are the approvals required from RBI
3.Is it possible for this foreign company to buy more shares in the company at a later stage and become Major share holder.

Your early reply shall be highly appreciated.

shantilal k. patel   05 August 2008 at 15:36

Public Litigation in case of Auditors of Listed Public Limited Companies


Can firm of chartered accountants be prevented to act as auditor of listed public limited companies if

(a)one of the parter has filed criminal/civil cases against other partners
(b)They do not talk to each other.
(c)there was fight amoung the partners,matter went to the court and court directed that all the financial transactons should be sign by two partners each representing one group
(d)filing cases by partners against each other is a ongoing process

Can Hight Court restrain such firm to
act as a Auditor of Listed Public Limited Companies if PIL is filed?

shantilal k. patel   05 August 2008 at 15:36

Public Litigation in case of Auditors of Listed Public Limited Companies


Can firm of chartered accountants be prevented to act as auditor of listed public limited companies if

(a)one of the parter has filed criminal/civil cases against other partners
(b)They do not talk to each other.
(c)there was fight amoung the partners,matter went to the court and court directed that all the financial transactons should be sign by two partners each representing one group
(d)filing cases by partners against each other is a ongoing process

Can Hight Court restrain such firm to
act as a Auditor of Listed Public Limited Companies if PIL is filed?

Anish   05 August 2008 at 12:15

Seeking discharge from service

I am a 26 year old Indian Naval sailor posted at Mumbai...Presently completed 8.5 years in service...My bond is of 20 years which commenced from 05.02.2000 till 2020...When I joined service, I was having a younger brother who was studying in 10th...But due to an accidental death of my brother in Aug 2005, I have become lone child to my parents...Now, I want to go out of service to be with them and moreover the risk associated with my present job is bit high which makes my parents very much uncomfortable making them prone to worries and health probelms...

So, its my humble request that please tell me the legal way of getting discharged from service..Is there any case which is supposed to be put from my side or from my parents side?? and please suggest any lawyer from mumbai who can handle my case...Your help will be highly useful for me...
thanking You,
Regards
Anish A Arvindakshan
EAAR-3
Mob No: 09867472739
email: anish.dmaverick@gmail.com

SRIPRAKASH BHATTACHARYA   02 August 2008 at 19:30

WHETHER SECRETARY OF A CO-OPERATIVE HOUSING SOCIETY CAN DELEGATE HIS POWER OR GIVE A POWER OF ATTORNEY.

DEAR SIRS,
THIS IS A QUESTION REGARDING A CO-OPERATIVE HOUSING SOCIETY IN KOLKATA WHERE THE WEST BENGAL STATE CO-OP. ACTS AND RULES ARE APPLICABLE. HOWEVER,IT MAY KINDLY BE NOTED THAT I FIND THE BASIC CO-OPERATIVE RULES ARE SIMILAR IN ALL THE STATES.IT IS ALSO FOUND THAT CLARIFICATIONS TO SUCH QUESTIONS
ARE NOT AVAILABLE IN THE BOOKS. HENCE THIS QUESTION.

IN CASE OF A CO-OPERATIVE HOUSING SOCITY, SECRETARY OF WHICH IS AN HONORARY POST AND REMAINS BUSY WITH HIS OWN EMPLOYMENT. SINCE, AT THE TIME OF TRANSFER OF FLATS ETC. THE SECRETARY HAS TO BE PRESENT IN THE OFFICE OF THE REGISTRAR OF ASSURANCE FOR PUTTING HIS SIGNATURE ON THE 'DEED OF CONVEYANCE'. DUE TO HIS PREOCCUPATION, IT BECOMES DIFFICULT FOR THE SECRETARY SOMETIMES TO MAKE HIMSELF AVAILABLE AT THE TIME OF SIGNING ON THE DEED OF CONVEYANCE, DUE TO WHICH THE MATTER GETS DELAYED. UNDER THE CIRCUMSTANCES, IS IT POSSIBLE THAT THE SECRETARY GIVES A'POWER OF ATTORNEY' TO ONE OF THE DIRECTOR OF THE CO-OPERATIVE HOUSING SOCIETY TO DISCHARGE THE DUTIES OF THE SECRETARY (SIGNING ON THE DEED OF CONVEYANCE FOR AND ON HIS BEHALF)FOR WHICH THE BOARD OF DIRECTORS WILL TAKE A RESOLUTION. ALTERNATIVELY, IS IT POSSIBLE THAT THE BOARD TAKES A RESOLUTION AUTHORISING THE SECRETARY AND ON EDIRECTOR TO DISCHARGE SUCH JOB.

SHALL BE GRATEFUL FOR A CLEAR CLARIFICATION.

Sriprakash Bhattacharya
bhattacharyasriprakash@gmail.com

Jayaram   02 August 2008 at 18:15

Auto DEbit of bank

Person A has obtained personal loan from a bank and signed the document to deduct the loan amount from the salary thro auto debit. the salary is credited in X bank where he has obtained personal loan. In the mean time before the loan tenure(48 months) he has decided to retire voluntarily.(Still 38 months of loan tenure is existing at the time of retirement) the loan amount is still pending to clear. the auto debit thro salary is stopped automatically because the salary is not credited in his account because of his retirement..In the Mean time A has obtained a portion of i.e.,10% retirement benefits which was credited in the same account. The bank manager without getting consent letter from the loanee using the auto debit tecniques deducted the entire loan amount from his account.(foreclousure). The problem is the consumer or loanee is not willing allow the entire foreclosure because he neither get his salary nor get his pension till the entire pension proposal verification process ends.To run his family 10% portion of amount of retirement benefits was given by the h.Q. it was deducted by the bank autodebit for the loan amount foreclosure. 90% of the pending benefits still has to come. the entire 10% of benefits is debited from his S.B account. Now the customer is now the customer not able to and mentaaly depressed.
Is there any violation of consumer protection prevails? the affected person wish to contact consumer court for the damaging his mental upset. Expers are invited to comment.

puja   31 July 2008 at 11:18

need urgent advice

Can a adopted girl child disown her parents(who adopts her)?



the query is: a girl who is the adopted child is abused by the parents who adopts her. they started abusing her and also torture and beat her. the reason being that a cousin of her left her house with a boy without intimating any one or her parents and they all are blaming this girl for this.
she is living in a rented premisies alone, all the relatives are now torturing her. she wants to get rid of all this stuff.

whts the remedy for her? can she disown her parents?



tell me the procedure? wht she can do? whts her remedy according to law?