Awadhesh Singh
26 June 2015 at 13:23
Dear Sir,
One of my friend is in real estate business and constructing apartments in a partnership firm. He is having his 50% share. In that project he has offered me to join him as his partner of 25% of his share of 50%. I am willing to join him as his partner of 25%. What type of agreement I should enter with him? Is it permissible as per existing law?
Pl opine
SANDEEP GONDALE
25 June 2015 at 16:04
Dear All,
Following are the Facts of My query:
I have executed an Agreement with a Contractor to complete a specific Task/work within 2 year. And from the Date of Completion to provide 06 months (Mistake in Contract) post completion services.
During the Course of negotiation, as recorded in Minutes of Meeting, Contractor agreed to provide 01 years post completion services, but due to mistake/error unfortunately 06 months recorded in the executed contract.
The Contract also says that “Agreement supersedes all communication, negotiations and Agreement (whether written or oral) of the parties with respect thereto made prior to the date of Agreement”
Please suggest any way out in this case as the Contractor is now denying his responsibility with a plea that 06 months recorded in executed Agreement between us.
More Specifically I am concern with the status of the Contract in view of Section-20 (Agreement void where both parties are under mistake as to matter of fact) of Indian Contract Act .
Ashwin Jain
24 June 2015 at 17:46
Respected Expert,
My question is regarding the relaxations for startup company as per the companies act, 2013
Q. What are the relaxations provided to the startup companies by the Companies Act,2013
I will be very much obliged if an appropriate answer is given to my query by the experts as soon as possible.
nemish jain
23 June 2015 at 11:54
sir,
i am a small businessmen,
and is working in scrap business
I took a bank Loan from a concerned bank,which included the terms that
you r not supposed to operate with other bank except the concernced bank Account from were i took the loan
i had an bank to be dealt for my inter bank transactions.
the bank noticed from my balance sheet that
i had some other bank besides the concerned bank
so they charged me the penal interest @ 2percent on loan account
pls help me to deal it for refund
Naina
22 June 2015 at 18:36
Dear experts, greetings to all of you !
I have recently had a very bad experience with a telecom sector company where I observed that this company sells its products to people in the area where they don't even actually provide services & on top of that, don't cancel the connection even after multiple requests for the same. This all has happened with me. I have further more facts about this which actually are completely against their social responsibility towards their customers. I can very comfortably call their behavior as "harassment". I visited this company's facebook page too, & see that it's not just me, all the same has happened with many other customers too who have cursed them on their page through comments on their posts.
I got so much disturbed with all this that I thought of filing a PIL against this company, because if they continue like this, they'll keep harassing many more people like this. But I don't know the pricedure at all. Can anyone of you become a guide to me in this ? I want to do this just for the sake of society at large.
Please leave your contact no. in the comments if I can get in touch with you for further facts.
Thanks
Naina
Aarti
22 June 2015 at 16:37
I own a proprietorship firm, making garments & supplying to corporates. In October, 2013, I supplied garments to a client whose parent company is listed on the stock market as well. The goods were supplied against Purchase orders and on the client's brand name.
In January, 2014 we were informed that they were closing down their stores and returning back the material. Initially we were not ready to accept it as the garments were made on their brand name but since we were not getting any payment from their side, we accepted the same on the condition of all expenses paid (transportation & octroi) & delivered to our office.
We have received goods from 7 stores but by the time we slowly received goods, over a time of around 6-8 months, they had sold off a major chunk of it and it all has accrued in the payments overdue. The company has a parent company who is majorly in to jewellery business and they are now insisting that we take jewellery against our payment as they won't be able to make the payment.
There is a very big catch here.. The company is in to supplying branded jewellery on MRP basis and is insisting that I pick the jewellery only from the few diamond sets which will be offered to me at their office, that too on MRP basis!
I have enquired from the market that the company is not using good quality diamonds, their certification is also fake most of the times and moreover picking the jewellery on MRP means I won't get more than 30% return of the value they claim!
I am planning to approach some media groups to highlight my issue since its a big corporate name. If anyone can provide any contacts on this, I'll be highly obliged!
Also planning to go legal. Any good but reasonable lawyer with prior experience of fighting such case against corporates, in Mumbai preferably, please contact.
Experts please advise.
nemish jain
20 June 2015 at 11:58
I want to start a barrel business and has duly complied all laws of companies act 2013
Which Acts i must refer
to study the specific statutory requirements for barrel business
i have company registered,is having vat registration,excise registration
also provide me details required to start a barrel business
Hir
19 June 2015 at 15:58
Hi,
Pl do guide me for my salary of f&f have been processed but therez one row of pay hold amount and in leave encashment row there is some exemption how are these calculated..
Pl suggest...
Regards
Hir
Hira Kan
18 June 2015 at 13:37
Can you please tell me the eforms to be filled by the company (Pvt Copany & Unlisted Company) on or after 01.04.2015 with ROC (MCA).
What are the eforms to be filled with ROC during the Financial Year 2015 - 2016 ?
Please guide me and help me out.
Regards,
Shital
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Section 188
The listing agreement provides exemption from obtaining approval of Audit committee for related party transactions between two government companies. MCA vide its notification dated 5th Jun’15 provides exemption from obtaining approval for related party transactions between two government companies.
MCA has granted exemption from section 188 for transactions between two Govt. Companies but not from section 177(4) (iv).
Terms of reference of audit-committee inter-alia includes approval or modifications of all RPTs.
Therefore, above transactions need approval of audit-committee. However, no approval of the board/shareholders will be required, if it does not attract section 188.
Others may express their views on the matter.