LCI Learning
Master NDPS 2.0: Latest Legal Developments, Best Practices & Landmark Case Studies

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

S.Raghavendra   02 December 2011 at 01:22

Unregistered partnership deed and firm vs. arbitration proceedings by one partner

Facts :- A, B, C entered into a partnership deed for running a totorials under the name 'ABC' tutorials (so called partnership firm) in 2003. The said deed and the firm are not registered under partnership act or under any other acts. The said tutorials did not run, not even for six months as any of the partner were able to invest the agreed amount. All of them kept quiet and not bothered to dissolve the firm in writing. Now ‘C’ in 2011 i.e. after lapse of approximately 7 years gives a notice to ‘A’ and ‘B’ asking for his salary, remuneration and share in profits from 2003. (note : A and B also did not continue the tutorials). He also referred about arbitration proceedings in his notice, mentioning about an arbitrator’s name and address and a date to attend the same in his notice.
1) Whether Sec.69 of partnership act is effective even to the arbitration proceedings?
2) Whether an arbitrator can be appointed in these kind of cases where the partnership deed and firm are not registered?
3) How to avoid arbitration proceedings or defend A and B from arbitration proceedings?
4) What to refer or study in order to gain knowledge about avoiding arbitration or fight in arbitration to save A and B.

Anonymous   01 December 2011 at 17:38

Urgent reply needed experts.

Hi I am a student of company law and want to ask whether a company has to notify the stock exchange while applying fo reference to the BIFR ?
Also I want to know, when a company has applied to the BIFR for reference and if its creditors disclose certain material information regarding the compnay to BIFR and if it overlooks such information, then what options do the creditors have ??
I would be really grateful if anyone can give me some information on the same !

akshay   01 December 2011 at 15:36

Company winding up

whether a foreign company be wound up by indian courts? and if yes, then under which provisions of law.

PABAK   01 December 2011 at 14:22

Quasi contract

what is a quasi contract? which sections are related with this term of indian contract act,1872...plz give details...

Anonymous   01 December 2011 at 07:25

Deemed removal of a director


Is there any provision of company law that deals with deemed removal of a director?

Kamlesh R Parikh   30 November 2011 at 20:23

Solvency certificate

I am serving the Govt of Guj
I have received a Solvency certificate from bidder issued by a nationalised bank at Ahmedabad which is issued in 2008, in response of a tender launched in Nov-2011

What is the time validity of that certificate?

Its very urgent, as other bidders have opposed to it stating that it is expired and valid only for one year, we have to decide it on 2nd Dec,2012 meeting
Thank u

Anonymous   30 November 2011 at 20:03

Reply experts

Our Pvt. ltd. company was incorporated in Noida on 8th December, 2010. We have not filed any returns. We are planning to get statutory audit done for YE 31 March 2011.
1. When is our first AGM due? Do we have to hold it before 31st Dec 2011?
2. What comes first the stautory audit or filing of ROC forms or AGM? Without audited P&L and Balance sheet, how can we file Annual returns?
Appreciate your response.
Thanks.

Anonymous   29 November 2011 at 22:23

Indian partnership law

Sir,
Whether partnership deed is treated as a contract between partners and in case of death of one partner the remaining partners can distribute the share within them after giving away the capital amount of the deaceased partner to his legal heirs.Whether partnership deed is treated seperately from succession law. or succession law overrules partneship deed.
Regards.

RAJESH CHOUDHARY   29 November 2011 at 19:49

Please reply to this

A Closely held Public Ltd. co. has decided to redeem Preference shares in Board Meeting held in APRIL 2011 from the proceeds of New issue of Equity Shares. In the same meeting Board has decided to issue new Equity shares. The Co. has taken the Equity Share Application money in MAY 2011 and from that amount paid the preference shareholders, while the allotment of equity shares to the shareholders has been done in SEPTEMBER 2011.
What would be the implication in this case where Fresh Issue of Equity shares (i.e. allotment of Equity shares) is done after making payment to the preference shareholders-
1. Is it a invalid redemption of Preference shares??
OR
2. The Preference shares would be deemed to have been redeemed OUT OF PROFITS ??

Anonymous   29 November 2011 at 13:10

Company law

whether a company can be a member of partnership firm