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Dr C Suresh   09 February 2012 at 21:05

Wilful defaulter label

RBI guidelines states that banks will write to borrowers and take their input before decalring them as wilful defaulter. If a Bank doesnot follow the RBI guidelines and places someone on wilful default list, can a defamation case be filed against the bank?

Purushotam Khanna   09 February 2012 at 15:21

Business model

I want to have consultation over a business model. i want to consult about feasibility and ethical aspects regarding this particular business model.

radhakrishna   09 February 2012 at 14:53

Credit cards dues

Dear sir,

Ihave taken credit cards and loan against creditcard from icici, hdfc in 2005.i made regular payments till 2008. At that time my salary is only 10k, but based on my transactions in bank , they have given more than 1 lakh limit for each card.totaloutstanding nearly 15lacs by 2009january. in the year 2008 i lost nearly 30-35lakhs in share market in ICICIdirect.
now i am unemployed, residing in rented house, no properties. because of my loss my parents house is also sold. Banks people are hunting me.
pls advise what to do in my case

pls help
Thankyou
Radhakrishna

Navin Kumar Agarwal   08 February 2012 at 23:10

Outstanding time barred

sir i was in a trading business since last 20 years due to some losses i have to close my business last year ,i used to get credit from my suppliers in my business .i have to pay a good amount to one of my supplier of good delivered in 2008 and now we are in 2012 .No legal action has been taken by them against me till now but money is outstanding in accounts ,i am in no position to pay as business is allready closed .CAN THEY DRAG ME TO COURT EVEN NOW OR THIS CASE IS TIME BARRED AS PER LIMITATION ACT

Dhruv   08 February 2012 at 16:18

Fema

Madam /Dear Sir,
As per the Master Circular on Foreign Investment in India (MasterCircular No. 15/2011-12, dtd 1-7-2011) issued by RBI, prior approval of the RBI is required for Transfer of Shares from NRI to NR [Para 8.B.II. (iv)] How can this approval be obtained? Is there a specific form in which an application is to be made or a letter is to be written?

Ritika singh   07 February 2012 at 17:19

Law applicable to imports .

a franchisee wants to open an electronics shop in India of a brand...the brand deals with a number of electronic products inc TV, ac , washing machine ...etc ....are their any rules, regulations , laws , quality standards that need to be adhered to ......and if the quality of 1 product is not good enough acc to reasonable standards can still rest of the products be imported oblivious of the bad one ...

Nitin Panchal   07 February 2012 at 10:57

Priority of sales tax /vat or secured creditor

Dear Sir,

Kindly provide us details whether claims of sales tax/VAT prevalis over claims of secured creditor i.e. bank. in Gujarat.
If possible pls.provide judgements of Supreme court or Gujarat High court.

Whether bank can go ahead with sale of mortgaged properties even though sales tax commissioner issued notice.

RENUGA DEVI   06 February 2012 at 20:36

Alternate dispute resolution mechanism & techniques

Dear mam/Sir

Please provide me about the details about Alternate Dispute Resolution mechanism and Techniques and please any one tell me about the differences between

1) Arbitration, Mediation, conciliation and lok adalat

Dhruv   06 February 2012 at 15:45

Fema

Dear Sir / Madam,

What are the restrictions regarding an NRI opening a pvt ltd company in India?
An NRI has opened a pvt ltd co., with an Indian resident, the share of NRI being 99%?
What are the additional compliances need to be followed regarding an NRI being a majority shareholder and a director in an Indian company by the company or the NRI?
And suppose if NRI intends to sell his shares to an Indian resident, then what are the compliances need to be followed?

ASHWANI GAGNEJA   05 February 2012 at 18:59

Bank guarantee

I have received an Order from a Company. Terms are 40% advance and balance against delivery ( which will be made in 3/4 lots.

40% advance will be adjusted against each supply and will be totally adjusted in the last lot. But, the purchaser inspite of adjustment of total advance can press for the Bank Guarantee.

Will be grateful, if some leaned lawyer advises me to make an agreement with purchaser so that I am safe.