hrishikesh
29 December 2013 at 21:57
. A company sold one of its part premises ,the money which came in
varunm
29 December 2013 at 12:41
Hi everyone.
We are a private limited IT Company (India) and had entered into a contract with a Foreign Company to provide software services and website portal.
It was a big on-going project. The foreign company provides work one by one and paid time to time accordingly to the us(Indian company).
some days before the foreign company ends the project and said that we are taking too much time to complete things. We explained to the foreign company that it was not our fault as the server was too busy to work on.
suddenly, the foreign company asked us to give the source code of the website portal and he has no issues for the non performance. we have acted accordingly and provides the source code. (note: the foreign company has ended the project ,not us)
The foreign company said " we are in the business and have no hard feelings. we would work on some other projects later" and suddenly signed out of skype.
later after one day , the foreign company send us an email stating that we have to pay penalty/fine for the non performance of the contract. and said that we have not completed the work on time.
first of all, contract doesn't have any clause for fine, penalty, breach of contract as well as time limit for the contract, as the contract was a on going contract.
Now they are threatening us that we have to pay the fine of 6000$ in 7 days, otherwise they will serve us with summon of the English court. also contract doesn't have any clause regarding any law or court, whether Indian or English law would be applicable if breach of contract arises.
(Note : they just send us a normal contract and a NDA agreement.
They have paid ,till now, to us around 7000$)
what to do in this situation and what are the defenses. and they have ended the project (breach of contract)?
Saloni Nigam
27 December 2013 at 12:40
Hello,
I want to start an online platform for social cause where donors, beneficiaries, volunteers and NGOs can interact with each other. Here, donors will be able to make online payment towards specific programs like education of underprivileged children or medical illness. The online website will retain 10% of funds as operating cost and send remaining funds towards the social cause.
This online organization should have the right to generate funds from individual and private companies based in India and abroad. Apart from that, donors should get 100% tax benefit on their donation amount so that they stay motivated to contribute. At present, I am not banking on getting government grants as I have heard it is a tedious process to register an NGO.
I would like to know what is the best suitable entity which I should plan to register (trust, society, foundation or NGO or anything else) which will fulfill above requirements.
Please guide on the steps of registering it.
Thank you so much in advance,
Saloni
Raja Rajak
26 December 2013 at 23:22
I would like to know if society registered under societies act 1983 has provision for re naming the society or not?
links-->
http://www.megpolice.gov.in/acts/state/Meghalaya_Societies_Registration_Act1983Act_11_1983.pdf
http://www.mca.gov.in/Ministry/actsbills/pdf/Societies_Registration_Act_1860.pdf
farook armaan
26 December 2013 at 20:19
Respected Sir,
i just wanna know, what can happens if someone gives a cheque signed "UNDER PROTEST"
please advice.
Ragvendra Singh
26 December 2013 at 15:13
as per NI act says that if a cheque is dishonoured for insufficiency of funds then it is a criminal offence with punishment upto 2 years and double the fine.
What about stop payment of cheque? i have issued a citi bank cheque of my account to a company which i have stopped later as i decided that i do not want to take their service. can that company sue me under ni act for dishonour????
swathi
26 December 2013 at 12:45
hi friends,
my uncle has applied for home lone.the bank rejected his loan as per credit report by cibil. He took 2 loans from the bank which were paid off before the due date but in the credit report it is still showing the credit which has to be paid.
please tell me the remedies against mistake made by cibil & bank so that i can guide my uncle and help him to get home loan.
thanks®ards
swathi
Mrs.n
25 December 2013 at 17:26
Dear Sirs,
Facts of the matter
One NBFC Listed company have given Loan/Inter corporate deposite to one private company for 60 days @24.% interest p.a.
The loan agreement was also executed and also the deed of personal guarantee.
then the borrowing company have asked for various extension to repay the same which lender company agreed .
But now the borrowing company have not paid interest for 5 months ?
QUERY
(1) can the lending company renew the loan agreement before expiry AND in the same agreement , can pending interest amount of 5 months be shown as LOAN by combining with principle amount ?? OR
2) can separate agreement be made for pending interest amount by showing it as LOAN ? OR
3) incase both the above option not suitable , pl.suggest most appropriate options.
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Money transfer bussiness
Dear all,
I want to Start my own Money transfer services like other companies are doing e.g. Easy Bill,one stop shop etc.
I want to know what kind of permission i have to take to open a money transfer facility only for domestic not international. I don't want to go for franchisee system with any company .
Please let me know can i go as a propritorship bussiness for money transfer service. except this what kind of permissions i have to take like authorities- RBI, INCOME TAX DEPT. ETC.
Please guide me
Thank You.