Corporate Law queries [465]

asifa butt 19 May 2010 at 14:12

cash capture clause

what is cash capture clause?what are its legal consequences ?

Heaven 2011 19 May 2010 at 12:44

Joint venture agreement registration

Two companies A and B enters into a joint venture agreement to create Company C with certain reponsibilities and rights etc. Is it necessary that the agreement be registered?

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Chandan Garg 19 May 2010 at 12:07

charges on NEFT

No bank is charging on NEFT Transfer, but HDFC is charging..

Is it legally allowed to them by RBI??

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Dr C Suresh 18 May 2010 at 22:44

Important Hon Constitutional bench Supreme Court Judgment

Whereas the Hon Supreme Court in Union of India vs. Madras Bar Association (Civil Appeal 3067 of 2004) on 11-5-2010 has held:

Para 15 ( re: Independence of Judiciary) ..Its(judiciary) existence depends however not only on philosophical, ethical or moral aspects but also upon several mundane things- security in tenure, freedom from ordinary monetary worries, freedom from influences and pressures within (from others in the Judiciary) and without (from the Executive).

Para 20 (Recommendations for better working of Tribunals); Only if continued judicial independence is assured, Tribunals can discharge judicial functions. In order to make such independence a reality, it is fundamental that the members of the Tribunal shall be independent persons, not civil servants. They should resemble courts and not bureaucratic boards. Even the dependence of Tribunals on the sponsoring or parent department for infrastructural facilities or personnel may undermine the independence of Judiciary,

Para 35. ....If Tribunals are to be vested with Judicial power hitherto vested in or exercised by courts, such Tribunals should possess the independence, security and capacity associated with courts.

Para 40......Rule of Law has several facets, one of which is that disputes of citizens will be decided by judges who are independent of the Executive. Another facet of Rule of Law is equality before Law. The essence of equality is that it must be capable of being enforced and adjudicated by an independent judicial forum.

Para 44 (b).. Any Tribunal to which any existing jurisdiction of courts is transferred should also be a Judicial Tribunal......and the members of the Tribunal should have the independence and security of tenure associated with Judicial Tribunals.

Para 55 ......the provision for routine suspension pending enquiry and the lack of any kind of immunity, are aspects which require to be considered and remedied.

Para 56(xii) To maintain independence and security in service, sub-section (3) of section 10FJ and section 10FV should provide that suspension of the President/Chairman or member of a Tribunal can be only with the concurrence of the Chief Justice of India.

Para 56 (xiii) The administrative support for all Tribunals should be from the Ministry of Law & Justice. Neither the Tribunals nor its members shall seek or be provided with facilities from the respective sponsoring or parent Ministries or concerned department.

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Anonymous 18 May 2010 at 21:19

Forex Trading

Hello,

I am resident of India. I am planning to do Forex trading with a Swiss company. I went to Axis Bank and came to know that money remittance is not allowed for Forex trading purpose. I inquired with HDFC bank and they told the money can be transferred to my overseas broker. I am confused because of 2 different answers from the banks. I need to know the following:

1. Is Forex (Foreign Currency) trading allowed for resident of India with a Foreign broker?
2. If remittance is not allowed, can I still deposit money by asking my friend to do it from USA and still do the trading?
3. What are the implications if I go ahead with remittance with HDFC bank?

The deposit amount is $2000 USD.

Please help me in clarifying my doubts. Appreciate all the help in advance.

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mintu 18 May 2010 at 16:58

urgent _ stamp duty on issue of debentures

Ld. Members

Please provide the amount of stamp duty which is required to be paid on:

1) Issue of secured debentures
2) mortgage deed on creation of mortgage/charge/security for debentures

at Delhi.

Thanks in advance,

Mintu

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Anonymous 18 May 2010 at 10:59

FORM XVII

IM A CHEMICAL DEALER.IAM SELLING CHEMICALS WHICH ARE APPLIED FOR PROCESSING OF SEMI FINISHED LEATHER INTO FINISHED LEATHER.IAM SELLING THESE CHEMICALS AGAINST FORM XVII.
BUT NOW I HAVE RECEIVED A NOTICE FROM CTO SAYS THAT THE CHEMICAL SHOULD NOT BE SOLD AGAINST FORM XVII FOR PROCESSING OF SEMI FINISHED LEATHER INTO FINISHED LEATHER SINCE THERE IS NO MANUFACTURING ACTIVITY INVOLVED AND NO NEW COMMERCIAL COMMODITY IS EMERGED.
SO CAN I KNEW THAT IT IS A MANUFACTURING ACTIVITY OR NOT? CAN THE CHEMICALS BE SOLD AGAINST FORM XVII?

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Anonymous 17 May 2010 at 19:20