Kunal Shah
14 January 2013 at 21:22
Dear All,
In a situation where a listed company defaults on paying interest on time;
1) Is it better to go to Company Law Board first or should the depositor file a Winding Up Petition?
2) Can the depositor ask the CLB for a list of all FD holders with that company, so they may form an association and lodge a complaint with CLB, or as a group, file a Winding Up petition?
rahul
14 January 2013 at 19:13
dear sir,
I had just now closed my loan Accounts (cash credit & term loan) with the SBI Bank,total outstanding was 26.50 lacs,so we deposited 5.50 lacs & 22.41 lacs by D.D's, DD was of excessive amt. b'cos it was arranged by us,to my ssi unit's loan Accounts,out of that 1.41 lacs was excessive,as a principal borrower i am the only person(prop.) of my unit to operate my bank A/c etc..But Bank has handover the excessive amt. to my gaurantor without my permission or concern, is it legal ? as per banking laws.As per my knowledge anybody can deposit amt. in the Bank but to withdraw amt.is not possible to anybody even wife or father of the Account Holder.Even there was no question of properties Auction of mine or Guarantors.
DRPHIRAKE
14 January 2013 at 13:43
Mr. A, an architect was carrying on his profession in the name of his proprietary concern M/s A & Co. up to 1963. Before his death in 1965, he had admitted his Son-in-Law as a partner in his firm, keeping intact the old name of the firm as M/s A & Co.. After the death of the Father-in-Law in 1965, the Son-in-Law became the sole proprietor of the firm and he also continued the original name of the firm as M/s A & Co. Now, the Son-in-Law has become very old, and has taken outside architect as a working partner keeping intact the old name of the firm as M/s A & Co.
Now, after about 40 years the heirs of Mr. A (the original founder) who are not qualified architects are claiming goodwill or share in the profits of the firm from the Son-in-Law. My queries are 1) Can the heirs of the original founder whose name still continues to the firm, can claim goodwill or share in the profits of the firm, even though more than 40 years have been elapsed from the death of their father? 2) As no heir is a qualified architect, is the claim of heirs is legally valid? 3) Can the heirs claim any money from the newly admitted outside working partner, when he will become the sole proprietor after the death of the Son-in-Law? 4) If the present partners change the name of the Firm, what will be the legal position? Please advice.
Dinesh
11 January 2013 at 23:20
A Proprietorship Firm cannot be sue or sued on its own name because its have no legal entity..
Please sir provide me law point in regard above said law and where i can find this law point and also suggest some authorities in regard of above said point.
Thanks..
Member (Account Deleted)
11 January 2013 at 15:35
The object clause of the MoA of a Ltd. Company inter-alia contain powers to carry on business as producers,distributors,exhibitors and financiers of cinematograph films,to constuct studios,theatre halls for exhibition of the films,stage plays,dances,performance and entertainments rewlated with the aforesaid objects.
Can the company go in for an entertainment TV channel and film production?
Geet
07 January 2013 at 10:11
On of My client want to convert their business proprietorship to partnership in this case new partnership deed prepared but is necessary to add a clause "of conversion from proprietorship to partnership" if it something to add kindly help me out regarding that clause to add on the deed
Toni S. Sachdevani
05 January 2013 at 19:51
Sirs,
Can there be a Partner in profits only?
Example:- A & B are partners. A is entitled to 75% Profits & B to 25%. However A only is liable for all the losses i.e. 100% losses & B is liable for nothing. Can B be partner in profits?
Thanks&Regards,
Praveen
03 January 2013 at 09:09
what is the procedure to file a complaint in MRTP Commission.
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Bank handover my excessive amt.to my guarantor after adjustment of outstanding loan amt.from my a/c.
I had just now closed my loan Accounts (cash credit & term loan) with the SBI Bank,total outstanding was 26.50 lacs,so we deposited 5.50 lacs & 22.41 lacs by D.D's, DD was of excessive amt. b'cos it was arranged by us,to my ssi unit's loan Accounts,out of that 1.41 lacs was excessive,as a principal borrower i am the only person(prop.) of my unit to operate my bank A/c etc..But Bank has handover the excessive amt. to my gaurantor without my permission or concern, is it legal ? as per banking laws.As per my knowledge anybody can deposit amt. in the Bank but to withdraw amt.is not possible to anybody even wife or father of the Account Holder.Even there was no question of properties Auction of mine or Guarantors.