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Raju   13 October 2014 at 17:08

Banking law

Hi...I am the one of the 4 Directors of a Pvt Ltd. Co. with shareholding of less than 5%. Our Co. has taken the Bank limits both CC & LC to the tune of 7 Cr total. One of the Director who is authorised signatory in the Bank has given his flat as collateral & declared the value of Flat as 1.5 Cr. While taking the Limits from the Bank we all 4 have given the Personal Guarantee being the director of the company. Now I want to Resign from this company. What are my Liabilities towards Bank & if none of the director Pays to the bank, how the Bank will recover it,s money. Can it seize my house ( in the name of my father ) & FDs / Post Office Saving ( in my Name ). I had no say in the Banking Matters nor I was involved in the day to day Accounting Transactions. Kindly Advice.

vimal   13 October 2014 at 15:12

Debt settlement aggrement

I need a debt settlement agreement or a letter acknowledging payment of debt

nikhil bhardwaj   11 October 2014 at 21:14

Regarding pvt ltd company

Dear Sir/Madam,
I wanted to know that i have registered a Pvt Ltd company 2 year ago and opened a company account too. but currently my company is very less active and account transactions are close to nil. However i dont want to close my company and most probably from next year it could be active in market. So, my question is what kind of legal care should i take that my company not come in any legal issue such as any prospective fine or any thing else.
Please guide me regarding this.

Nikhil Kumar
nikhil143all@gmail.com

Kumaran   11 October 2014 at 11:43

I am going to give online support

I am running a local search website.
I am going to give a online support for a dress shop.Currently dress shop don't have the online e-commerce website.The owner of the shop wants to sell the dresses online.
So he approched me for the online support.
So I will fix 10% above the actual price and will sell the dresses.
I created the website also.
My company also not registered.
So, bills are going to be processed in the name of the dress shop.
But website will be name as a separate name not in the exact shop name.
So, My question is If run a website in different name and gives the bill in exact dress shop's name . what are constraints in it and Is that legal? Please advice

Deepak   09 October 2014 at 17:41

Company transaction account seized due to partnership dispute

Sir,

My friend runs a Private Limited company where he owns 82 percent share, and rest 18% divided equally among his family members(brother, sister, and mother). Due to some dispute, his family members had a board meeting and decided to give the account transaction rights to the brother who has 6.33% share for which my friend opposed saying that he is the major share holder. So now the bank has stopped the transaction, money from business is deposited into account but not able to withdraw. In this context can't he withdraw money for salary purpose of employees.

Rekha   08 October 2014 at 16:50

Proprietorship onwership transfer

Hi

I am currently running a sole proprietorship software company.As i have got my interest of job in private sector i would like to transfer the company to my family member but my husband recently got other country passport(NRI) and have minor kids under 14.

Pls suggest any option on this scenario and also the list of process involved.

Thank You
Rekha.

Aparna G   06 October 2014 at 17:50

Can virtual office be used as registered office to incorporate private limited company in mumbai?

Hi Everyone,

Thank you for your PMs on my previous post. I have decided to register a private limited company in Mumbai. I will work from home but need a premises that I can give as the registered office address to incorporate my private limited company.

Kindly let me know what are the options to rent a registered office address in Mumbai? Does the virtual offices work as a registered office?

Regards,

Aparna G.

Veggies Rule!

Rahul Lahiri   06 October 2014 at 16:34

Company law - change of members of a section 25 company

I have a query relating to a Section 25 company limited by Guarantee. The company has not been functioning since its incorporation.Hence the existing management decided to transfer the company to some interested personnel who became directors of the company and the existing management resigned from directorship. Now, let me know the responsibility of the members of the company. is there any process to change the members of the company? Please reply.

sundaram   06 October 2014 at 13:53

Anti drug certificate

I need Anti drug certificate for my visa process to travel UK.


Could you advise where i can get the certificate.

Lokesh Sharma   05 October 2014 at 23:48

Fraud committed by brother

Dear Sir/Mam, My father had a shop in which he was the proprietor. my uncle also used to work in the shop with him. My father opened a new shop and allowed his bro to run his earlier shop. Now there has been disputes and it has come to our knowledge that he has changed the name of the shop. The earlier name of the shop has been brought down. We have both emotional and financial attachment with the shop. Please let me know what action can I take? The shop is owned and is on a land which is co owned by my father and his 3 brothers. The earlier license was in my father's name but we don't have a copy of the same and I am not aware of the current license.