Dr R SHANMUGA SUNDARAMM
15 August 2014 at 07:22
my client is an LIC agent, LIC agents alone for the Credit card was issued to him on June 2010, the card limit was Rs 20,000. In the month of July 2010, he did the transaction for Rs16,000. There after he didn’t used the card. Till Dec 2013 and he didn’t receive any communication (even Monthly Statement). Unfortunately case has been filed and he received the summon from Civil Judge Central, Tis Hazari Courts, Delhi and for the amount of Rs 104,000.
Even I have spoken to the corporation bank people in Delhi, negotiating with them for 1 month they asked to pay Rs 62800 as final settlement (Principle Amount 16,000, Service Tax 20,000, Interest 12,800, Legal Expenses 14,000)
Situation sis my client is from Tamil Nadu and they filed case in Delhi, where he can’t go there and face the case.
Could you pls advise what to do in this situation?
Kumar
14 August 2014 at 22:41
Experts, In my wife complaint mentioned that wife's parents given dowry. That's not true. in-law was a retired Sub-Inspector. I have planned to file DP3. Please give your inputs. Wife Side: Dv act case and police complaint(filed 1.5 yrs back and CSR only made in that). Please give your inputs.
kumar
14 August 2014 at 14:18
PROPERTY is in name of my Husband my husband expired ,now as I have to file a
case reg .property issue can I file case.
what is the procedure.
kumar
14 August 2014 at 14:15
I am a pensioner , I would like to know is the pension amount [RS.] will be the same for every month or
will the pension amount be less/deducted for one month and a little more in next month.
shrikant
14 August 2014 at 13:33
sirs,
A case of recovery of society charges is pending in co-operative court for long time and there is no interim relief to the society so far.
What is the remedy for society to speed up the case?
Chandru
14 August 2014 at 12:11
Dear Co-professionals,
I have following queries on compliance related to related party transactions (RPT) under revised Clause 49 w.e.f. Oct 1, 2014:
Query 1: From the definition of RPT under revised Cl 49–‘a transfer of resources, services or obligations between a company and a related party, regardless of whether a price is charged’, does the expression ‘transfer of resources or obligation’ also cover loans, investments, provision of security or guarantee by a listed entity to its related parties? if yes, provide some other activities which also would be covered under these?
Query 2: Material RPT defined as ‘a transaction with a related party shall be considered material if the transaction / transactions to be entered into individually or taken together with previous transactions during a financial year, exceeds five percent of the annual turnover or twenty percent of the net worth of the company as per the last audited financial statements of the company, whichever is higher’
In case, there are transactions with related party of different nature such as purchase transactions, sale transactions, transactions related to leasing of properties, while identifying material RPTs, do we have to club all kinds of RPTs as under expression used ’taken together’ (i.e. Clubbing sales, purchase, lease transactions together and check if the aggregate value exceeds given threshold limits OR to club RPTs of only similar nature (i.e. Clubbing of only all the purchase transactions and check if the aggregate value of purchase transactions exceeds given threshold limits)?
Query 3: As per point no. 4.2 - the provisions of Clause 49(VII) as given in Part-B shall be applicable to all prospective transactions. All existing material related party contracts or arrangements as on the date of this circular which are likely to continue beyond March 31, 2015 shall be placed for approval of the shareholders in the first General Meeting subsequent to October 01, 2014. However, a company may choose to get such contracts approved by the shareholders even before October 01, 2014.
From this para, I understand we need to consider the value of only those contracts or arrangement with related party existing on the date of circular i.e. April 17, 2014 and continuing beyond March 2015. But do we have to consider value of each contract or arrangement or need to take the aggregate value of all the contracts or arrangements with the related party to identify if they are material contracts/arrangements?
Request valuable inputs on these especially from those who have practically handled these issues.
Regards
CS Chandrashekar K
9743148312
Prasad
14 August 2014 at 09:29
Reproduced below a expert opinion( Raju O F) on my query.
Don't be jealous. This is the order of the day. People in position, make lot of money, 99% illegally. Who can stop it. Daily we read in papers, about people of all walks of life. Do not spoil your energy, money and tension on thinking about these things. Much of such illegal money are going to hospitals. Let God Almighty take care of them.
First of all Namasathe to you sir .I think now every problem we face in society if it illegal also we have to say to GOD for taking care THAN depend on lawyers . I doubt the reply given by this sir is not a Professional lawyer and if he is a lawyer he would not replied me this way. May his GOD take care of him
Ramu
14 August 2014 at 00:42
The National Commission (NCDRC) has ordered as follows. I am the Respondent.
ORDER:
"Heard Learned Counsel for the Appellant.Issue notice of Memo of Appeal as well as application for condonation of delay, to respondent returnable on 8.12.2014."
Will I get copies of Appellant's pleadings along with Notice?
Is personal appearance necessary on 8-12-2014?
Thanks.
Advocate Ravinder
13 August 2014 at 21:03
To All experts,
My client had taken a loan of Rs. 50 lacs from a nationalised bank for his business of manufacturing automobile spare parts. It is a sole proprietorship. His friend had given collateral security. My client paid only few payments of loan. Now the company is running in loss and the outstanding balance went upto 80 lacs as on date. The security given is much less than the outstanding loan amount. What is the procedure adopted by the Bank for recovering the loan. In case if the security given falls short of the loan amount, will the bank attach even the personal properties of the principal debtor and guarantor which are not given as security.
Ravinder, Advocate.
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About name changing for applying passport.
Hi... in my birth certificate my mother name is "C.Pallaniammal", after she changed her name to "Amutha Gunesekaran"(Gunasekaran my Father name). Now i changed my mopther name in the government gazette. Is this proof(GOV GAZETTE ) enough for name proof or i should change in the birth certificate too. Please help me.
Note: I have other proofs in my hand.