In a partnership of 4 partners (partnership is at will), 3 of the partners have received notice by one of the partner that the firm will be dissolved from 31st July?
Should they reply to the notice?
What are the legal remedies available to them if they want to continue the firm?
*Partnership deed is notarized and not registered
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.continue
I have completed 4 years 191 days, Am I eligible for gratuity?
Working in IT complany
Is there any Supreme Court or high court judgement that interprets or defines meaning of fraud under section 447 of the Companies act 2013 ?continue
My question is on Sec 73CA of MCS Act 1960 (3rd Amendment) 07 Sept, 2001.
[(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
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.
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?
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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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.
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