Anonymous
04 November 2019 at 09:26
Please tell me if a proprietorship firm and its business has been taken over by a private limited company, how the immovable property of the proprietorship firm will be transferred to the company and is there any provision under the Companies Act which relive the company to get the property transferred in its name through execution of transfer/sale deed and to save it from payment of stamp duty?
pushpakrishna
01 November 2019 at 17:33
What is the meaning of presale notice when it issued by the banks to the borrowers and how it has to be served
pushpakrishna
29 October 2019 at 17:36
Dear experts
Is it a valid notice when a bank sent to the borrower by a private courier and and not acknowledged by the borrower and also with out notice for repayment prior to issue the pressle notice on which court admitted and passed an order infavor of the bank. But my contention was that as per the section 27 of general clauses act the presale notice is not proper and any notice must sent by the Registered post.
Hence I request you that kindly give an advice on this and give any suprem court judgements on this.
Thanq in advance.
Ravi Chopra
24 October 2019 at 20:12
Hi,
My daughter has given Power of Attorney in my name. She has a FCNR (fixed deposit) in $ at a nationalized bank. She wants me to remit her money in $. Bank told me Power of Attorney is not valid as
1. Money in fixed deposit is in US $ (foreign currency)
2. Place where amount is to be remitted (a place in US) is outside India (foreign again)
So a POA issued in India can not be used for (foreign) purposes.
Bank told me to take my daughter to their bank for cancellation. Other option they gave me 5 page form to be signed and received in hard copy (print out of soft copy signed by her is not acceptable)
Like to know whether a Power of Attorney is not valid for cancelling fixed deposit in bank? And can it be used to sign on behalf of POA issuer to repatriate money held in US $?
Request experts to kindly reply (my son in law thinks i am not co operating as Lawyer while drafting POA said it's valid for executing all transactions)
thanks!
Manoj
22 October 2019 at 19:27
Sir, I hold shares in physical form of Chambal Fertilizers and Chemicals ltd. I have sent the certificates a number of times through my depositor i.e. SBICAP Security ltd, but each time returned with remarks Signature Differs. The certificates are being returned by SBICAP, without even sending to the RTA. The share certificate are defaced with their stamp and have refused to cancel it or issue me the NOC. My hard earned money is blocked and losing on dividends also. Please suggest me the recourse available. Regards, M.K., Chaudhary
Anonymous
21 October 2019 at 10:23
I am a respondent and win an arbitration interim award in commercial dispute, but here my doubt petitioner as claimants till date taking liberty as not deposit money as per interim arbitration order and contempt of procedural order from Jan-2019 to April-2019 (till date), fail to file under sec 34 to challenge of interim order passed and taken 90 days shelter for delay in proceedings, fail to file original documents for inspection, not able to file affidavit f evidence, there are multiple advocates replaced and trying to divert of preceding, The dramatic situation and request created for settlement process, which was not comes out any concrete solution, now trying to delayed in cross examine, the reason for not available or able to booked venue, the claimants and his advocate intentionally delayed the arbitration proceeding by taking shelters of various adjournments and diverting our minds set, Ultimately claimants were failed to participate in preceding every time. Now I doubt as if my lawyer is also a part of this along with arbitrator or alone any one of them, can I ask directly to sole arbitrator for this or I have only power to through my lawyer only, if arbitrator is giving liberty to claimant what is the solution for respondent
Anonymous
16 October 2019 at 12:45
What is rate of STAMP DUTY ON ARBITRATION AWARD IN THE STATE OF UTTAR PRADESH?
IS IT PAYABLE BEFORE AWARD IS PRONOUNCED?
Anonymous
09 October 2019 at 16:15
Dear All,
I hereby request the experts in this forum to guide me on the following:
An unlisted public company has offered to its members for allotment of shares on Rights basis. As per the recent MCA guidelines issued issued under the Rule 9A (2) of The Companies (Prospectus and Allotment of Securities) Third Amendment Rules, 2018, wherein it was expressly stated as - “Every unlisted public company making any offer for issue of any securities or buyback of securities or issue of bonus shares or rights offer shall ensure that before making such offer, entire holding of securities of its promoters, directors, key managerial personnel has been dematerialised in accordance with provisions of the Depositories Act, 1996 and regulations made there under”. However on the date of offer i.e. Record date about 70 out of 169 promoters (viz. about 42%) are yet to complete the Demat process.
On completion of the issue period the company conducted a board meeting and issued the shares on rights basis to all those members who applied for shares in such Rights Issue. Funds collected were transferred to the company's current account from the Escrow account.
Is such allotment valid as per law? What is the recourse we have to take action against the management of the company? One of the investors has filed an official complaint with the ROC however there was no action from the ROC.
rayudua
25 September 2019 at 12:22
I am allotee in IPOs in1990 and having shares in the form of certificates.
I dont want to sell these shares.
Is it compulsory to hold shares in dematerialised form only?
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Quorum of directors
Our company is Active noncompliant due to non filing of INC 22A form as one of our directors expired and our minimum directorship reduced. We are also unable to file DIR 12 for new appointment of Director as per INC 22A restrictions. But as per the MCA Notification dated 16.10.2019 restrictions on appointment of new director were removed and the appointment is allowed. Therefore we were trying to file the form DIR 12 for appointment but it was showing the same error that kindly file INC 22A.
Kindly help to find a solution as it is very urgent,
Thanks in advance