Arati Gawde
27 September 2013 at 15:37
It is on the subject of Dispute resolution clause in Service Agreement.
In one Service Agreement it was mentioned “Jurisdiction” clause in which it was stated that “The Courts of Delhi / Mumbai shall have Jurisdiction over all matters arising out of or related to this Agreement “.And in another paragraph it was stated provision regarding Arbitration clause such as Number of Arbitrator, Venue & that Arbitration award shall be final. My queries are:
a.In such type of Agreement which dispute resolution is prevail whether Court decision Or Arbitrator?
b.In agreement it was mentioned that “The Arbitration award shall be final and binding upon the Parties” then can that Parties of the Agreement are in position to go to the Court if they first approach to Arbitrator?
Jassi
27 September 2013 at 12:44
XYZ Pvt Ltd has 3 directors – A(33%), B(33%), & C(34%) with the said share holding pattern and a paid up capital of INR 1 Lac for 10000 shares of Face Value of INR 10/- each.
Since 1 Year, XYZ has not done any business. Director ‘A’ has not been attending office since December-2011 and the rest two directors ‘B’ & ‘C’ have also stopped attending office since June-2013. None of the directors have recently made any effort for the revival of the business and it seems very less likely that the company will be able to revive. Therefore, Directors ‘B’ & ‘C’ wish to dissolve the company, while Director ‘A’ is not ready for the same.
Please suggest on the following
a) In the current scenario, if Directors ‘B’ & ‘C’ wish to dissolve the company against the will of Director ‘A’, what options do they have and what is the process that they will have to follow? How much time and effort would it require?
b) In the current scenario, can Directors ‘B’ & ‘C’ expel Director ‘A’ from the company against his will? If yes, what will be the process and can they also retain the company thereafter?
c) In the scenario where Directors ‘B’ & ‘C’ resign from directorship of XYZ, but still retain the shares of the company, what would be their legal obligations towards the company or vice versa?
Nandesha
26 September 2013 at 00:48
I wish to Start Money lending business in Mumbai. Please help me with the legal procedure to register my self as a money lender (With legal formalities).I wish the company would be sole Proprietor.
Little knowledge I could know is that I need to register in accordance to money lending act . but no more data.
Please help me with a solution
Contact me on 9029023020 or 02266807777
Ganesh Verma
25 September 2013 at 18:08
Is it possible that conversion of an existing society to section 25 company.
ThangamRaghavan
25 September 2013 at 14:24
A bank has initiated recovery proceedings in DRT under DRT act (Not SARFAESI) against a borrower who is paying the EMI regularly but with some over due which have been left over by the borrower i.e non payment of EMI of 8 months in the middle period of mortgage loan due to his family problems but still he is paying EMI regularly. Now he wants to restructure the EMI of loan through DRT .Hence is it possible to get a direction for restructuring of the above said loan of the above said borrower from DRT to the bank concerned.
Sonia Gill
25 September 2013 at 12:24
I AM Sonia from Gurgaon. My firm is a Pvt Ltd firm which deals with export of garments and handicrafts. This is a 15 year old firm. This firm was started by and promoted by Mr. & Mrs Vachhani who migrated to south Africa about 8-9 years back after transferring shares to my husband and his friend who were working for him. Now my husband died 3 years back due to accident and another director is also not intrsted in continuing with us. The company is not doing any business for the last 10 years and does not have any assets also. Now, I am told by my daughter that I should close this company. I checked with Mr. Vacchani but he has expressed not to sign any document as he thinks suddenly after so many years I have asked so he is afraid of any legal problem. He is now ignoring my calls also. Mr. Ramesh, another director who was with my husband is also not helping me. He says he will not sign any papers, documents etc. as he has stopped coming to our place 4 years back around my husbands death. My company has not filed balance sheets/ annual returns and other papers in the website and the Auditor who has not been paid also not taking any interest. Can I hire another CA and do the filing work which is required and also can I make my brother a director from a back date i.e. from 2008-09 onwards and I also become director to file documents. Some one suggested I can file my DIN now, and become director from 2008 so that I can sign the papers, balance sheets etc and regularise the company. The company status is dormant.
I am very disturbed as I want to live in peace and dont want anyone knocking my door with some notice or summons after-words. I am helpless as being a single mother people rather try to take advantage than help. Please help me....
priyanka sinha(bose)
24 September 2013 at 16:52
1- That my client was appointed by Mr.Arun Kr.Jalan in his company JALAN INFOTECH PVT.LTD. vide his offer letter dated 01.10.2008 as Branch Manager and the salary of my client was fixed at Rs.29,100/- per month vide his offer letter dated 01.10.2008.
2- That my client did his duty diligently, regularly and with utmost punctuality sincere, and with full devotion by doing manual job with his own hands and skill set in accordance with the well-settled provisions of the law. Mr.Jalan issued the offer letter in the name of my client and got printed the visiting cards also in the name of my client.
3- That on 01.09.2012 when my client went to attend his duty then Mr.Jalan abruptly refused to allow to my client to attend his duty, my client found the office premises shutter was forcefully closed by Mr.Jalan without any reason explaining to my client and he refuse to talk with my client further in a most illegal and unlawful manner without any reasonable rhyme and cause. At the time of closing of the services of my client, Mr.Jalan did not pay the salary, conveyance, bonus, medical, privilege leave and others benefit for the month of April’12 to till date which comes to Rs.5,94,805/- to my client.
4- That my client visited his office from January’12 to August’12 from time to time and spent a huge amount of Rs.20,000/- on the charges of traveling /conveyance charges but Mr.Jalan refused to pay the outstanding amount of Rs.20,000/-. Lastly on 07.02.2013 Mr.Jalan clearly refused to pay the salary amount of Rs. 5,17,605/- to my client.
5- That Mr.Jalan did not provide my client statutory benefits i.e. ESI & P.F. etc.HE also did not pay the salary of Rs. 5,94,805/- and the amount includes of bonus and other service benefits in total.
6- That my client also lodge an FIR on 22.02.2013 at Gariahat P.S. bearing no. 118 and simultaneously on 14.03.2013 at Lake P.S. bearing no. 99, for the non-payment of salary. But he didnt get any positive response from them.
Now my client is in hand-mouth situation,his total amount of non payed salary is 5,94,805. His old mother and only son who is a minor is suffering due to severe poverty. How can he get an immediate recovery of that money? and i am kindly drawing your attention in this context that Mr.Jalan,the director of Jalan Infotech Pvt.Ltd did not provide the FORM-XVI(16)I.T FORM to my client,what is the immediate procedure to save this family?
Mrs.n
23 September 2013 at 16:15
Hello,
my query is
1) within how many days from the bank letter regarding dishonour of cheque , one should issue demand notice ?
2) and it is necessary that in such prescribed period demand notice should also be received or only just within prescribed period it is to be sent .receipt is immaterial ?
3) after receipt payee have to pay the amount within 15 days ? pls conform 15 days .
4) after failure to pay within 15 days . within how much period suit can be instituted ??
pls suggest
shashikant gharge
22 September 2013 at 22:39
I am doing business one party from ahemadabad sent me without order material in high prices i do not agree and as per his telephonic instructions same material i transfered to other party but piarty was asking payment to me. finally he charged recovery suit upon me i havenot received notice my neighbour took the notice after that he he got pledge from court and on support from that document he took post dated cheques from me i was enable to pass cheques but i sent him same amount through NEFT till this date i have paid him 80% amount but now he is refusing that he have not received the amount please suggest me in this case what can i do?
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Winding up petition at madras hc
I request the learned members to refer advocate/s who are practicing at Chennai HC to file Winding up petition at chennai HC for recovery of money...( in all 3 petitions)
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AAK