Amit
08 May 2014 at 13:58
Sirs,
As you know Company's Act 2013 has been made effective from 01.4.2014.
My query is will the sections of old Company's law (like 203, 204) be change to any other section numbers.
i.e. if old law is superceded by new law do the old section numbers get changed in new law.
kindly clarify.
Thanks
Regards,
Amit
sachin
08 May 2014 at 10:31
Dear Sir/Madam,
We are real estate developers and just to provide additional facilities to the purchasers of our flats, we have decided to allocate space in the basement our building to a company to set up a laundry. We will not receive any fixed rentals but only 10% of revenue share and the tenure will be for 3 years with one year of lockin.
What is document that will need to be executed that will safeguard our rights in the premises and we can terminate the agreement if we do not find the arrangement to be beneficial to our costumes.
Our intention is not to make profits but to provide facility with little returns.
Regards,
Sachin
Member (Account Deleted)
07 May 2014 at 20:52
A bank mark my FDRs as Lien under Banker's General Lien to recover alleged pension dues made twice due to phishing attack etc.Pensioner finds no such twice payment entries. Ask the bank to unblock FDRs and to provide more details. PCDA is also informed. The bank paid no heed.No confirmation recd from PCDA. The pensioner complained to the CMD bank. Nothing happens.Banking Ombudsman was then requested to interfere. It admits the complaint as maintainable No 201314009001276, obtains reply from the bank but dispose it off under clause 8 & 9(3) of BO Rules 2006. It informs the bank but not the customer. The bank informs the customer of the BO order but refuses to provide him a copy. Def Pensioner complains to the Min of Def GOI. It helps. PCDA ask the bank to furnish details.
The bank meanwhile exercised banker's general Lien and appropriates all the FDRs (valued at Rs 19 Lacs. The customer lodged the complaint to the BO afresh with all the supporting documents. BO takes no note of my complaint lodged afresh but sends me a mail with a copy of bank's previous reply informing its order disposing off my complaint under clause 13(a). Wouldn't it be under clause 13(f)?
hitesh jain
07 May 2014 at 20:12
dear sir,
I am trader of hdpe mosquito net fabrics, our product catagory comes under exempted goods of vat.
Recently we purchased some hdpe granules from tamil nadu which comes under vat@5%. We had purchased this material with complete bill (345000+vat 17250) with vat paid on it along with all our details required.
The goods were under transit from tamilnadu to karnataka and it got held at bangalore check post for non attachment of e sugam form.
As this was first time we purchased some material for which e sugam was required and which was not under our knowledge.
Hence we have been sent a notice by the checkpost to our transporter for a penalty of Rs.63000/=
So kindly let us know what is the best we can do for this problem which we are unknowingly facing it. Hope to get your valued response immediatly as we have to reply by 10th may..
hitesh
divya tiwari
07 May 2014 at 11:20
Hi,
We have hired 4 interns for internship.I just wanted to check what are the mandates of internship related to their documentation and related to their stipends.
Regards,
Divya
padmanabha guptha
06 May 2014 at 19:42
Sir,
I was a dealer for a reputed FMCG company. I would like to bring the fallowing facts required to understand my problem.
1) I was receiving the stocks against the D.D.
2) The company supplied some stocks though not requested. Every time, while collecting the D.D, the sales staff were use to assure me to supply stocks as per my request.
3) Company staff could not sell such stocks.
4) Apart from that, the scheme offered by company use to be given in advance by me. It has been cleared after a huge gap about two years intentionally.
5) The above two lapses of company has caused me huge loss.
6) Hence, I stopped sending D.D from Jan- 2013.
7) New Dealer has been appointed by the company, since Sept-2013 without obtaining NOC from me. The pending stocks have been cleared by the company during Nov-2013
7) Till today, some money is held up by the company. All this is causing me interest loss.
8) In the company website, under the heading " Spirit of ----" ,it is mentioned that,they fallow business ethics.
9) I don't know any other persons than S.O. and A.S.M in the company.
10) I approached the company through feed back facility in web site. I wrote bitterly. But, no body responded.
12) I am of the opinion, the staff are not bothered as they know administrative weakness and under the feelings the jurisdiction is Bangalore which is about 260kM away from my place.
Sir, I want to drag the company for having misused my goodness. Also, I want the business loss and health loss to be compensated by company. But, I want the legal procedure to be initiated at my place, so as to make the company sales staff to attend leagal procedure at my place.
I request the expert to, enlighten me in this regard and relive me from the tension.
Dr.Gaurang N. Gandhi
06 May 2014 at 06:15
Dear Sir,
My cousin purchased a car on Loan at Gandhinagar- Gujarat.
According to the agreement with the financing company the purchaser has to repay the loan amount by 60 monthly installments.
The purchaser issue 10 cheques in advance and after 9 the instalment issued another 10 cheques in favour of the financing company.
Meanwhile the managing staff forgotten to ancash three cheques and debited the installment amount and charged interest @ 36% on such outstanding installment amount.
Recently the financing company issued Notice to start Arbitration Proceedings and another notice for appointment of arbitrator.
The appointment of arbitrator by the financing company issued notice that contain date and place of arbitration proceedings it was Mumbai.
Meanwhile the purchaser replied all the notices with denial to initiate arbitration proceedings. And filed reply through Post.
But the arbitrator refused to consider the reply filed by RPAD and pass interim order to seize and sell the CAR by Auction if the purchaser fail to repay whole loan amount within 7 days from the date of the order.
Can we challenge the interim order?
If yes then which Court has jurisdiction?
The purchaser's permanent residence address is Mahesana -Gujarat and whole correspondence held at Mahesana address and one branch office of the financing company is also situated at Mahesana.
P K GHOSH
05 May 2014 at 12:26
As part of the contracts that we execute for implementation of projects for various clients, we need to essentially submit the following Bank Guarantees (BGs) to them;
To draw advance from the client, for which a BG of equivalent value is submitted, normally valid till the adjustment of all advances from the running bills.
For covering performance of the completed project during the warranty period, which could range from 12 to 24 months, and this is normally linked with the release of the last 10% payment of the contract, payable on submission of the BG.
In both the above cases, the clients ask for a claim period after the expiry of the validity of the BG, so that in case there are any claims from them, this could be raised during the claim period. The claim period, as stipulated by the client, normally ranges from 3 months to 6 months.
So far we had been submitting BGs in both the above categories, to our clients, incorporating the clauses as worded by the client and generally accepted by the banks, (in some cases with minor modifications). The validity and the claim periods mentioned in the BGs were as per the stipulation of the client, as mentioned in the contract with them.
Recently, however, our bankers have been demanding that irrespective of the claim period asked by the client, the BGs would be issued by them with a claim period of 1 year minimum. On seeking clarifications from them, they have informed as below:
“Department of Financial Services, Ministry of Finance , Government of India vide their letter dated 24.01.2013 had informed that the Banking Laws (Amendment) Act came into effect w.e.f. 18.01.2013 as regards to change in Limitation Act as per India Contract Act, 1872 u/s 28. As per the new Act the minimum claim period is 1 year irrespective of the expiry date.”
While we are not very sure whether the bank is acting on the correct premises, (since we do not have a full picture of the related provisions), on checking with other banks, we gather that no such measure of charging for 1 full year of claim period, even if the beneficiary needs a lesser claim period, is being enforced by them.
Prima facie this stipulation seems illogical, since besides making us unnecessarily pay commission and block funds for a longer period, it also exposes us to unforeseen liabilities and risks, because the client is being given an encashment option even beyond the period sought by him.
We would be obliged to get an informed view on this to take it up further with the bank.
PK GHOSH
BHUBANESWAR
pushkar nehete
03 May 2014 at 18:15
Respected learned members, I am seeking your expert opinion that, whether any Proprietary Concern firm can be a partner in any Partnership firm?
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