SRIBATSA SAHOO
18 January 2025 at 02:26
My query
if bank is unable to take auction the property under section 13(4)of sarfaesi act, can bank file a money suit against the same borrower and the property.
Anonymous
31 December 2024 at 20:45
A financial Institution (FI) conducted a public auction on 30-9-2019 for sale of 3 residential properties. I was declared successful bidder for one of property. For other two properties FI conducted another auction on 30-11-2019. FI has refused to hand me over the possession of property by saying that auction has been cancelled by Debt Recovery Tribunal (DRT). However as per order of DRT, auction dated 30-11-2019 has been cancelled rather than auction dt 30-9-2019. It is not a typing error otherwise FI could have gone for rectification so far. DRT’s order is just of 2 pages. Aggrieved by action of FI I filed a SA on 30-12-2019.
In the last 5 years matter has been fixed for hearing 23 times in last 5 years but hardly any effective hearing has taken place so far. In last 5 years FI has appeared before the Honourable Court just once. It is really frustrating that honourable Court could not find enough time to read just 2 page of DRT order dt 18-12-2019 in last 5 years. Early hearing request is also not working. Writ to High Court is not working since DRT is not having time. It is not that in last 5 years DRT has not heard /decided any matter but somehow my turn is not coming.
Although my auction has not been cancelled as per wordings of DRT. But what has been cancelled by DRT is also based on false and misleading evidence given in court and without impleading me.
I am worried that property might get sold before decision of DRT comes. Can some criminal action be taken against FI.
Meena
01 December 2024 at 22:05
My company holds 30% share in a dissolved company which in turn holds considerable stock in leading Banks and has a valuable landed property.
The official Liquidator knowing fully well of these assets dissolved the company in12020.
These shares are with the RTA agents along with the dividend.
I approached the liquidator asking him what are the dues that has to be settled.
The company has to pay 34% to the workers along with 4% interest.
This is 1/6 of the consideration of the shares and landed property.
Now I intend to file a case in High court to restore the company to the stage of winding up and claim my share. There are other 2 companies which have share in the dissolved company, but they have been liquidated, one voluntarily some 20 years back and the other by the official liquidator.
My question is what should I do?
1 Restore the company and claim my company's share.
2. Buy the dissolved company as I envisage, I will be getting it for a cheaper price.
need your guidance
Anonymous
27 November 2024 at 14:45
Share transfer agent not transferring the shares
Dear sir
Subject share transfer in my name
This refers to my share transfer claim lodge on with necessary documents
And your reply to submit the claim with court probate
I would like to state as follows
As per. the SEBI requirement I have submitted the claim with the necessary transfer forms duly filled in
Will from my father in my name ,my favour
Notarised affidavit by me the heir and Claimant as per the will confirming my entitlement for the shares as a heir and as per name mentioned in the will
NOC from my sisters for transferring the shares. In my name They could claim the shares being heir however they have consented for transferring the shares in my name
Indemnity bond from me against shares transfer indemnifying the company and transfer agent against any type of claims losses etc arising on account of transfer of the shares to me based on the documents and will
Over 23 years have passed to my father's death and till now there is no claim with necessary documents other than the present claim by me
Hence you should not hold my claim for any reason in case you want to review my will you may do the same by taking with a person who will v understand the Marathi language either in your office or from your Mumbai office request you to permit my transfer claim and transfer the shares in my name
With my affidavit and indemnity bond there is no smallest liability on you also I can be easily booked for anything wrong in case any dispute arises on account of any shortfall from me
Please do the needful urgently
Thanking yo
Regards
raju Rohra
12 November 2024 at 15:01
Hi- I have received a notice from SBI for online hearing ,its a arbitration notice therefore please advise what should be my reply as i am currently out of job and want to negotiate the settlement at bare minimum
Anonymous
03 September 2024 at 15:57
2. Mr. Sameer Khan, a businessman, filed a lawsuit in the District Court of Delhi against JAY’s Corporation for breach of contract. The court issued a notice to JAY’s Corporation, and the case was scheduled for a hearing. However, due to an administrative error, the court staff failed to notify JAY’s Corporation of the hearing date.On the day of the hearing, Mr. Khan and his legal team appeared in court, but JAY’s Corporation was absent. The court, unaware of the notification error, proceeded to hear the case ex parte and ruled in favor of Mr. Khan, awarding him significant damages.When JAY’s Corporation learned about the court's decision, they filed a motion to set aside the ex parte judgment, arguing that they were not given a fair opportunity to present their case due to the court's mistake. In such a case what is the court's responsibilities in ensuring that both parties receive proper notification of hearings. Under what circumstances can JAY’s Corporation successfully have the court's decision overturned and what are the ethical obligations of Mr. Khan and his legal team?
Raghu
14 August 2024 at 10:29
Hello I
need advice on the following incident:--
I joined an IT MNC and didn't like the role that they gave me. I also have a better offer in my hand. I just attended the virtual induction session for day 1 after 1 week sent an email that I am resigning. But I didn't get any reply to that email. So I tried to contact them through mobile they didn't pick up the call either. I didn't get a salary for the first month so I thought they relieved me.
In the meantime, I joined another organization in which I have a better role. After 5 months I came to know they have created a PF account for me. Due to that, I am getting a Background verification issue. After that, I contacted them to sort out this issue but, they told me you are still our employees so we couldn't do anything. After that, they sent me an email for termination from their organization. Now It has become a dual employment issue for me.
As per the policy if I am Absent for 10 days they should remove my employment from their payroll. But They didn't do that instead removing my employment from their payroll the kept it active for 8 months.
Please give suggestions to sort out this issue.
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Lifting of corporate veil
If a deceased director takes loan from bank for company against his property as mortgaged and then misappropriates loan amount to his personal use and transfer some amount to his personal account. Does his legal heirs responsible to repay it and he will be personally liable to pay it or it would be done without lifting of corporate veil.