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Anonymous   14 July 2021 at 11:36

Personal housing loan taken against partnership firm

In a partnership with 2 people A & B, A takes a housing loan by showing his income from the firm, bank includes both the partners and sanctions the loan. But now B does not want to be part of this loan and firm also, what is the best possible way that A gets loan also and B is out of firm and liability too.

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Hanumanthe Gowda   06 July 2021 at 18:21

Am i eiligible for grattuity ?

I have completed 4 years 191 days, Am I eligible for gratuity?
Working in IT complany

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Shaher yar   03 July 2021 at 21:21

Corporate frauds

Is there any Supreme Court or high court judgement that interprets or defines meaning of fraud under section 447 of the Companies act 2013 ?

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Jasbir Singh   03 July 2021 at 10:30

2 kids policy in housing socieity election

Dear Sir,
Greetings!
My question is on Sec 73CA of MCS Act 1960 (3rd Amendment) 07 Sept, 2001.

Disqualification Clause

[(vii) has more than two children:
Provided that, a person having more than two children on the date of commencement of the Maharashtra Co-operative Societies (Third Amendment) Act, 2001 (hereinafter in this clause referred to as "the date of such commencement"), shall not be disqualified under this clause so long as the number of children he had on the date of such commencement does not increase:

Provided further that, a child or more than one child born in a single delivery within the period of one year from the date of such commencement shall not be taken into consideration for the purpose of disqualification mentioned in this clause.


Explanation. - For the purposes of this clause. -
(a) where a couple has only one child on or after the date of such commencement, any number of children born out of a single subsequent delivery shall be deemed to be one entity;

THIS MEANS AFTER THE GRACE PERIOD OF ONE YEAR FROM THE COMMENCEMNT OF ABOVE RULE, PERSON GETS DISQUALIFY EVEN HE OR SHE HAD MORE THAN ONE KIDS IN SINGLE DELIVERY AND CROSS 2 KIDS LIMITS. ? RIGHT

kindly clarify,
thanks you
regrads

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abhimanyu   23 June 2021 at 06:45

Financial statement, board’s report, etc.

THIS QUERY WAS RAISED IN FORUM BUT NO ADVICE CAME AS SUCH THIS IS BEING POSTED HERE



As per Section 134(5)(b) of the Companies Act, 2013, the Directors’ Responsibility Statement referred to in clause (c) of sub-section (3) shall state that the directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the profit and loss of the company for that period. In this regard, following are queries:

1. Is there any guideline or guidance issued by the ICAI with respect to this aspect? If so please advise.

2. At what time of the financial year, the Directors have to select accounting policies for applying them for that financial year. To make the query more clear, such accounting policies as will be applied to the Accounts for the year 2021-22 should be selected by the Directors at what time

A) in the beginning financial year 2021-22 or

B) can be selected at any time but before the close of 2021-22

3. Whether for Accounts of the Company for the financial year 2021-22, such accounting policies can be selected by the directors after close of the financial year on 31.3.2022 but before the approval of the financial statements by the Board for 2021-22. For example, for the year 2021-22, approval of financial statements shall be done after 31.3.2022, so can such accounting policies as will be applied to the accounts for the financial year 2021-22 can be selected in June, 2022.

4. Suppose, the Directors selected accounting policies in the year 2019-20, which are being applied to the Accounts of the financial year 2021-22. Now, a need arises for modification of some accounting policies to be applied to the accounts for the year 2021-22. Please advise can such a modifications in policies be done after 31st March, 2022, say in June, 2022 for being applied to the Accounts 2021-22.

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Anonymous   07 June 2021 at 14:56

Shareholders nominated by state government


To
The Respected
Senior Professionals,

Under Section 112 of Companies Act,2013 states:

Sec 112 (1) The President of India or the Governor of a State, if he is a member of a company, may appoint such person as he thinks fit to act as his representative at any meeting of the company or at any meeting of any class of members of the company.

(2) A person appointed to act under sub-section (1) shall, for the purposes of this Act, be deemed to be a member of such a company and shall be entitled to exercise the same rights and powers, including the right to vote by proxy and postal ballot , as the President or, as the case may be, the Governor could exercise as a member of the company.

Now the concerned Company being a 100% state Govt owned Company. Its shareholders(2 shareholders) nominated by Governor of the State from time to time..
My query is, As per Sec 112(2) those nominated members treated like natural Members does they have aright to transfer shares to anyone without getting permission from the Governor of the State?

Regards
Abhijit Majumder

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Anonymous   06 June 2021 at 22:14

Manhandling from senior to junior staff at pvt bank

in one of pvt bank, senior had manhandled junior staff at office premises while official discussion, after reporting to the management, management had removed the manhandled staff to make sure no further conflicts on this issues, after this, within 3 months once this issues are cooldown management had re-admitted this manhandled staff for same position since manhandled staff had good influence at management,

In this case what can be done kindly suggest,

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jknksk143   05 June 2021 at 15:23

Looking a experienced corporate lawyer for our organization

Dear Sir,

Good day to you.
Hope you are doing well and good.
We are a Interiors & Exteriors Company based in Tamil Nadu and diversified our business into Finance & Investments, Real Estate and Constructions.
We are looking for a years of experienced expertise to guide us in the perspective of legalities in our businesses.
We will be much grateful if anyone revert back to us to skinteriorsnexteriors@gmail.com

Best Regards,

JK
CEO

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Anonymous   31 May 2021 at 12:06

Unregistered service agreement

Dear All, can an unregistered service agreement executed between two companies for providing some services can be effectively enforced before the court (MSME / Civil Court / or other forum)

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rahul p   31 May 2021 at 06:20

Resignation during probation period

Hi
I am working with a IT company, India since January 2021 and currently am on probation for 6 months. I am resigning due to bad management policies and got a better offer received from another company.

When I put my resignation, i am asked to serve a notice period for 3 months. The offer letter does not state a different clause for the notice period on probation.

As per my offer letter,

Probation Period:
You are required to serve a probation period of 6 months from the date of joining, after which you will be issued a confirmation letter if your performance is satisfactory.

Notice Period upon Employment Termination:
The Company or the Employee may terminate this contract by giving Notice in writing to the other of not less than 3 Months. Enforcing the option of the notice period is entirely up to the management.

In such cases
1. what should I do as they are not agreeing any thing else.

2. What will happen if I forcefully stop working in that organization in one month time by handover all the assets which I am having.

3. Will they file any complaints against me and stop my career throughout my life.

4. Is 3 months notice period legally valid during the probation period.

Kindly help me with your valuable reply and above concerns.

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