J T Mahavar
21 September 2013 at 12:34
I have provided very special services of marine operations to a shipyard. The yard has issued purchase order as per agreed rate and also issued work completion certificate. There is no separate contract agreement except the above purchase order and emails. The yard only promises to pay but payment is not coming. It is delayed 4 months now. What are the option for me to take legal action against the yard. Can I implicate the principal employer also in the litigation.
Arun
21 September 2013 at 11:43
Dear All
Kindly share Retirement Partnership Deed.
sreekumar
20 September 2013 at 17:17
We are manufacturing MRP products and puting MRP stickers ' MRP Rs.100/-'
The Legal metrology officials visited our factory and saying the stickers is not correct and issued notice. According to them sticker should contain wordings 'inclusive of all taxes'.
Please advice and tell me how serious is this offence
akash
20 September 2013 at 14:12
Hello Experts,
I started a small Private Ltd Co. and one of the directors, who quit later on, gave a loan of around Rs 3 lacs and I put in around Rs 7 lacs. Now the business is in heavy losses and the 2 remaining directors (including me) are planning to shut it down. The assets are very limited- only about Rs 1.5 lacs. The 3 lac loan from the director who quit has a lock in period of 1 more year left (i.e. he can't ask for his money back for another year) , whereas my loan does not have any lock in. If we sell the assets and the company realizes Rs 1.5 lacs, can it be used to pay back my loan first, since there's no lock in?
If we declare bankruptcy after an year, can the director who quit prosecute us that we used the assets to pay our loan first? Technically, I feel that since I can ask for my money back anytime, I should be able to get it paid rightaway.
Thanks
Rakesh
20 September 2013 at 00:56
Dear sir,
I and one of my partner made a private limited company with paid up capital was of 100000 shares. The authorised capital of the company was of 400000 shares. The company consist of an agriculture property. 50% shares (ie. 50,000 shares) were alloted in my name while other 50% shares (ie. 50,000 shares)were alloted in my partners name as directors. MY Partner alloted the authorised capital shares (400000 shares) to some other private limited company (in which his son is director)without my consent and knowledge. Now, he has also appointed 2 new directors in the company without my knowledge and consent as additional directors. Now, my share holding in the company is reduced to 10% and his share holding has increased to 90% and 2 new additional directors are also added in company without any company meeting or my signatures. I am worried, whether my partner can sell the agriculture property in name of company without my consent and knowledge? what steps should i take to stop him doing so?
S DEB
19 September 2013 at 12:17
In a wind turbine farm a contract was signed between the investor who owns the wind turbines and the operator of the wind turbine farm for operation and maintenance of the wind turbines. Wind turbines are located in an vast area and long lines of power cables run from the turbines to the electrical substation. The operator of the wind turbine farm have deployed security to guard their installation and electrical lines. Miscreants are quite active in the area and frequently resort to cutting and stealing the electrical cables thereby causing shut downs.
The question is whether such shut downs can be called a Force Majeure condition.
manoj
18 September 2013 at 16:46
1.merger scheme approved.
2.meeting waived.
3.Rd noc pending
4.meantime affidavit filed of RD queries to high court by petitioner pending reply by RD.
5.Now in final stage,some mistake found in valuation which is technical or typographical error.That Goodwiil added with valuation of Transferee Company with book value under average profit method out of three method applied.Goodwill value is correct under this method.But there is some error in other two method(super profit & capitalised method) which is just disclosure.Shareholder have approved average profit method.
My question is , is this mistake cancell the merging process or alter the exchane ratio?
Or this can be fixed by calling EGM or filing correct supplementry affidavit before final verdict ?
P.C. Joshi
18 September 2013 at 10:52
I shall be grateful for the comments of learned members on following query:
Company A deals in FMCG goods and for distribution the Company appoints Consignee Agent in all states, the Consignee Agent sells goods to wholesale distributors and whole sellers and then the goods are sold by them to retail stores.
In all cases there is an agreement between the Company and Consignee Agents (CAs). The distributors are appointed by the company jointly with CAs. One of the Consignee Agent has defaulted in payment and contended that the payment is due from a distributor say X. The Company discontinued the business with CA and at the time of settlement of account, the CA handed over a cheque issued by distributor X in favour of the Company directly. However, on presentation, the cheque given by the distributor(X) got bounced.
Can the Company file a complaint against distributor(X) under Section 138 of the Negotiable Instrument Act?
Please let me have your comments.
amol
18 September 2013 at 10:02
There is a Co winding up petition u/ 433 & 434 filed against the Respondent CO for whom i am an advocate. The Co Petition got admitted because of the non compliance of the initial conditional order asking to deposit claim of petitioner within 6 weeks from the dt of order however subsequently paper publication of admission made by petitioner as per the order of High Court. Thereafter due to non payment the Petitioner filed CO Application for appointment of Provi Liquidator in that application the High Court granted extension of time to Deposit the amount in High Court i.e. the calim of the petitioner and ultimately after admission of Co Petition the amount was deposited in the above CO Application thereby the claim of the petitioner is secured by the Respondent CO
Thereafter two other applicants have filed their Co Application raising frivolous claim also making a prayer therein to appoint official Liquidator.
One of the applicant already got the order from the consumer court for the identical grievance inspite he has used company petition as a tool to recover the amount.
The other second applicant already raised a demand to the consumer Court for recovery of money and compensation for non allotment of flat by Respondent CO the same is rejected and directed him to file Civil Suit.
In the above situation Court directed Respondent Co to file an Affidavit Disclosing Assets and Liabilities whereby the Respondent Co has disclosed on an Affidavit an unaudited statement of assets and liabilities for yr 31-3-2013. is it necessary to mention All the assets in detail or only Fixed assets Amount ....... is enough pls answer?
Inspite of above facts and main petitioner's claim is secured the Company Judge without disposing of his earlier Co. Application of the petitioner for appointing Liquidator passed an ad interim order of appointment of provisional liquidator in all comapny applications filed in Co petition.
Sirs Now Please guide i am in difficulty as the matter is kept immediately on next Tuesday
my Q are
1) Can the judge pass such an order ?
2)is it proper now to file a Co Application by Respondent Co before the same company judge high court for following prayers
a) to recall the order of Admission of CO petition on the ground that claim of petitioner is already secured
b) recall the order of ad interim order passed in all above co applications
c) to decide the Co application of the petitioner of appointment of pro liquidator as his claim is secured
d) to decide the other claims of the Co Applicants on its own merits and dismiss the same
sir i have a plan to do above whether it will work ? if not please guide as to what would be the next step which i must take to dismiss or recall the ad interim order ? Can a order of admission of Co petition be recalled by co Judge if petitioner's claim is already secured ? if yes under which section or Rule of Company Act or Rules?
please guide all experts of Co Law with section and Rule and Judgement
thanks
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Mis-management and fraud by managing director
the Company is under Compliance and has not filed its financials with ROC for 2011-2012 and also for current year yet. also the Managing Director of the company is doing some frauds. the company has issued unsecured debentures to the other Company and also the Director of other company is member and director for the same company too. currently the company is having Directors strength of 5 and also they are members of the company out of that one directors holding is 50% and the promoter cum Managing Director of the company is having holding of 27% (approx).
the Directors and members of the same company want to remove or restrain the Managing Director from doing further business Activity.
Kindly suggest the procedure and options attracting the provisions of Company Law.