amritinder
11 August 2010 at 18:57
A property outside municipal limits with permanent building construvted is actually used as commercial building (ware house /office) on a land which is agricultural land as per tittle deed but as per report from revenue officer the same has been classified as non cultivable land there is no cultivation in the land and the land is used purely as commercial with NOC from village panchayat for construction of building and commercial usage No approval from local body not from town planning department
In this circumstance, the owner of the property gets loan from bank and he mortgaged the same property as security to the loan. Subsequently the loan become NPA. In this circumstance the bank can attach the property under SARFAESI, even though property is classified as agricultural land as per tittle deed , there is no cultivation and there is building and factory. If any bank favorable judgement of Supreme Court, kindly give me.
Anonymous
11 August 2010 at 11:03
Dear Sir,
I have entered into a partnership in the year 1993 with my friend in Delhi who intend to set up a factory there. It was done just on friendship gesture as he was not having financial strength on paper to avail Loan from the financial instituition. As I was staying in kolkata it was not possible to sign up the day to day papers I have given a power of attorney to sign singly to my friend. Anyway after that I have not kept proper track of the business as I was not having any interest. In 2008 I came to know that the unit was taken over by the State financial institution for non payement of dues. The said unit was auctioned and the realisation was also done. As per my knowledge the unit is still having 25Lakhs outstanding. Till today I have not recieved any correspondences from the financial instituition. Now it is query that will I be still liable for the power of attorney I have executed in favour of my friend? Can the financial institution take possesion of my Flat Iam having in Delhi? Can my bank accounts be attached?
I would like to request to suggest me the remedy or legal process by which I can safeguard myself
Anonymous
11 August 2010 at 10:18
Dear All,
Whether the provisions of Madhya Pradesh Accommodation Control Act, 1961 are applicable on the commercial property which had been taken on basis of business conducting agreement which provides for the constitution of arbitral tribunal to settle the disputes.
Kindly guide.
Best Regards
Aston Albuquerque
10 August 2010 at 19:35
We have registerd a pvt. ltd company in England. This was done on line.
Do we have to inform Indian Govt/RBI about it
Ravi S Patil
10 August 2010 at 11:07
A person receives a notice from Registrar of Companies for not filing Annual Returns, Balance Sheet, AGM of a private limited company in the capacity of one among the 7 Director's. On perusal of the file of the said company at RoC he comes to know who are the other Directors and tries to locate the company but at the registered address the company does not exist and even the other Directors are not traceable at their house address mentioned at the RoC. But his name appears as First Directors in the AoA and also in the 5 yrs of Balance Sheet. The subscribers to the AoA & MoA are different persons and even there is a Form 32 with respect to the appointment of Directors but signed by the subscribers. The said Directors had other companies wherein in one of the company he was a Director but later he resigned.
The said person is unaware of he being the Director in the said company of which he has received the notice from RoC.
Please tell me how he can prove that he was not a Director of the Company in issue at any given point of time?
What is the legal recourse to this?
VIJAY K. TEOTIA
09 August 2010 at 12:11
Is there any provision of review against the rejection order passed by insurance company. can insurance company change its earlier order od rejection and accept claim partially/fully.
Purvi
08 August 2010 at 18:57
Hello,
We have partnership firm to manufacture plast dies. My father and my uncle was partner. Company has 50-50 partnership. in 2005, my father had sudden death and my mother took 50% of partner ship. in 2006, my uncle has heart attack and my aunt took share of 50%. Every partnership deed is on 100 Rs stamp paper and non-registered.
We have small factory in Ahmedabad and i am ready to pay for them 50% share and to make 100% ownership.
My query:
1. Can i make dissolution deed on 100 Rs stamp paper?
2. I need to register it?
3. What can i do to transfer the industrial shade on my name?
4. Are you have any standard dissolution deed?
Thanks,
Purvi
Anonymous
07 August 2010 at 21:56
1.My father was running a Pvt Ltd Company in our home premises as a director of this business.
2.Two other directors were my mother and another person.
3.The company had a Cash credit loan(cash-credit loan of 32lakh including interest) with personal gurantee of directors.
4.My father died 2 years back and the business got sick and could not run and shutter closed.Now my mother is bed-ridden with cancer.
5.The account of business has not sufficient fund to pay the loan and my mother(one of the director) is surviving with cancer and the other director didn't show up.
6. I am the only son of my parent(both of them were director as said eralier) and was not involved in this business anyway.
7. Both me and my wife are in different services profession.Under this circumstances, we don't know what to happen in the future...
we just want to get rid of the situation and save our property and we don't have enough fund...please advise.
Further Details:09/08/2010
1. Spares/Tools/machinery has been sold/realized and saved as fixed deposit in company account.
2. Only personal guarantee was there for the directors.
Now my further question is...
3.If the property does not remain in my father's name in future,what will happen.
4. As one of the 3 directors(except my parents) who is an outsider(not stay in our home...i.e the business premises)....how the bank will chase him, as he does not show up after our business operation closed and not ready to take any responsibility.
5. What can happen after my mother's absence as I am not at all involved in this business in black and white.
Please note..I don't understand business whereabouts and I just want to save our property as we stay there and I don't have enough money if it is asked...
Anonymous
07 August 2010 at 19:42
Dear Sir,
I have received Cash Subsidy as per Gujarat state Inustrieal Policy 1995-2000 at 2003.
This subsidy is senctioned by DIC and which had payment direct our financial Institute GSFC.
GSFC had credited our SUBSIDY in our due intrest account not in Capital Account (Principal Account).
Sir, According to our sources GSFC should credit the Subsidy in our Principal Account.
You are requested to give your valuabele advise above matter and oblize us.
Thanks with best regards,
Tejasbhai Parekh.
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