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sridhar pasumarthy   17 January 2013 at 19:26

Section 9 of arbitration act

Respected Experts,

A private finance company granted loan to an individual for purchase of a heavy vehicle. In the loan agreement, there was arbitration clause. As the borrower committed default in payment of monthly instalments,finance company is intending to initiate arbitration proceedings.

My queries are :-

1. Can a petition under Section 9 of Arbitration Act be moved before District Judge's court seeking interim attachment of an immovable property of the borrower for securing the recovery of the award amount that may be passed by Arbitrator in future?

2. If so, does an interim application for the same relief pending disposal of the main Section 9 petition is maintainable?

Pls answer my queries with citations, if any.

I also request you to please provide a format petition. It's very urgent.

Thanks in advance.

Rohit Adhikari   17 January 2013 at 15:57

Want to open free learning classes/institute!

I want to open free learning classes/institute (to social help for our country) in all around india which contains this features;
Courses-English speaking, cookery classes, knitting classes, tailoring class, art and craft and dancing/singing.
Registration fee-Rs.100/200 only (no monthly fee).
No certification required.
So please let me know does it need to any legal formalities like registration, TAN, affiliation or anything else?
Kindly guide me for further.
Thank you!

KAMLESH KUKREJA   17 January 2013 at 13:20

Agreement

an employee signed an agreement with employer that he will surely work with him for 3 years if he leaves in between then employer will get compensation of Rs:-90000. if employee leaves the service within 3 years then can employer enforce the contract & get compensation.?
what if above is only bond?

Dhirender Wadhwa   17 January 2013 at 12:40

Business under trust

I had opened a trust with my daughter as the beneficiary.

I have two questions, kindly help

1) Can the trust start a small business (service based) as the properietor. If yes, what will be the Serive/ Income tax levied on the business and the properietor trust. As on date, the trust has no business/ income.

2) Can I include my second baby in the same trust as co-beneficiary?

SURAJIT   17 January 2013 at 10:11

Cheque bounce

Dear Sir
I was issued a Bank of Baroda cheque by GSFC, vadodra on 10.10.12. when i submitted it at SBI the cheque dishonored. then i called GSFC and narrated the matter and sent the scan copy of cheque along with the remarks of bank for dishonored (reason " drawer signature not as per mandate"). still no action was taken by GSFC. again on 26.12.12 i submitted the same cheque at SBI and this time also the cheque bounced with the reason " drawer signature not as per mandate". then i consulted an advocate and has sent a notice to GSFC on 9.1.13. now my point is that on last 10.1.13 the validity of the cheque (i.e. valid for three months) has exhausted. Please advise what shall i do next ?

Bhavin Doshi   16 January 2013 at 22:13

Cheque bouncing case

Sir i sold Rs.10,47,565/-goods to one customer under the terms 20 days payment.But he divided the amt into 3 parts and and gave me 3 cheques. Sir now all 3 cheques have been dishonoured.And every day he is making false commitments,And business is fully stopped and and my creditors are pressuring me to make the payment.I am planning file the case.So i wanted to know how much time it takes to get the judgement for a court.

oyayubihime   16 January 2013 at 16:38

Director can be all foreigner?

In case of Pvt.Ltd company, 2 directors can be both foreigner? If yes, what is the condition? Is it necessary to visit or live India?

Rahul Jain   16 January 2013 at 10:43

Negotiable instrument act cases u/s 138

if i have given a loan to one of my wholesaler by cheque of rs. 500000 and cash of rs. 10 lac for hhis business purpose and chrged interest @ 6% which is adjusted against the purchase made and balance by paying cash....and the cheque has been bounced for principal amount...how can i get the money in that case...please suggest me....

Garima Agarwal   15 January 2013 at 18:07

Matter before clb

Sir / ma'am

I want to know can company law board order over a case before it, if regarding the same matter a criminal case is pending before a high court? or
can a high court give permission or order company law board to order over that matter?
Reply asap and i will be really helpful if u can support it with case laws.