kirtirani sole
04 April 2010 at 09:37
Dear Sir/Madam
can anybody pls provide me judgment-
P.C.Chako & Anr.v. Chairman of LIC of India & ors. decided by S.C. on 20-11-2007.
Regards.
Anonymous
03 April 2010 at 23:04
Can a Life Insurance Co be held responsible for the act of its employees committing forgery by making forged signature of policy holder on a changed new form while destoying the original form submitted by the policy holder, which can apart from benefiting the employees, can also benefit the Insurance Co at the last, when the maturity amount becomes disputed due to mismatch in signatures?
N.RAMESH
03 April 2010 at 17:38
DEAR FRIENDS
COULD YOU KINDLY BLANK LETTER OF INTENT FORMAT
THANKS & REGARDS
N RAMESH
pramod
03 April 2010 at 14:22
Respected Experts,
Please help me to have a proper partnership deed which is in accordance with the principles of law. I would like know in a situation of following circumstances what could be a better legal position in terms of its validity.
My client and his friend would like to start a garment business in partnership. Both of them mutually decided to invest the initial capital in equal and decided to share the profits and loss as well. Here an appropriate place of business was offered by a third person who is a lessee of premises which is very much convenient for the said partnership business. This lessee is only interested in a monthly fixed amount of income and would like to let the premises based on this understanding.More over lessee do not have any business presently running at the said premises and also having no interest in the said partnership. Conveniently the lesser had no objection of the same in this business if he (lessee) is a partner in the said business. My client and his friend would like to be an active partners in the said business and do not want lessee to be in the day to day business and operation of its accounts. In return my client and his friend would pay a fixed amount. But this fact is not known to the lesser.
Therefore, I request respective experts to share an appropriate form a partnership deed which will not violate any provisions of law in terms of sub letting and any other possible infringement laws.
This kind guidance could be a great help, Thank you.
Pramod. K.P.
pramod
03 April 2010 at 14:20
Respected Experts,
Please help me to have a proper partnership deed which is in accordance with the principles of law. I would like know in a situation of following circumstances what could be a better legal position in terms of its validity.
My client and his friend would like to start a garment business in partnership. Both of them mutually decided to invest the initial capital in equal and decided to share the profits and loss as well. Here an appropriate place of business was offered by a third person who is a lessee of premises which is very much convenient for the said partnership business. This lessee is only interested in a monthly fixed amount of income and would like to let the premises based on this understanding.More over lessee do not have any business presently running at the said premises and also having no interest in the said partnership. Conveniently the lesser had no objection of the same in this business if he (lessee) is a partner in the said business. My client and his friend would like to be an active partners in the said business and do not want lessee to be in the day to day business and operation of its accounts. In return my client and his friend would pay a fixed amount. But this fact is not known to the lesser.
Therefore, I request respective experts to share an appropriate form a partnership deed which will not violate any provisions of law in terms of sub letting and any other possible infringement laws.
This kind guidance could be a great help, Thank you.
Pramod. K.P.
c.v.naik
02 April 2010 at 13:26
Dear Friends
In Maharashtra , a company failed to pay electricity dues, which were in dispute then, to Maharashtra State Electricity Board(MSEB).
In 2006, the company lost civil suit filed against it by the MSEB to recover the dues in a concern district court. The company could not settle the issue with Maharashtra State Electricity Distribution Ltd, (MSEDL) a legal successor of MSEB.
MSEDL has now applied in the same district court for court decree to acquire the company property.
A private sector bank, in which I have joined as employee on contract terms, has provided credit facilities to the company secured by mortgaged of its entire fixed assets and by hypothecation of its current assets. All directors of the company have also given their personal guarantee to the bank.
In the matter, as a banker I would like to know the following points.
1. Whether MESB dues being a statutory Govt. Body, in this case will be treated by the district court as Govt. dues and recovered as land revenue arrears.
2. In that case what will be position of the bank security?
3. While giving electricity connection, the MSEB had taken some amount of security deposit which already has been adjusted. None of the directors has given personal guarantee to the MSEB. Still can MSEDL take possession of their property?
4. Though the company is not financially sound, it is serving bank loan properly for which many time company directors pumped in large fund in it. Whether court will direct us to stop the company operation and dispose of its property jointly with MSEDL.
I shall be grateful if you advice me, preferably by quoting specific court cases or at least legal provisions
Heaven 2011
01 April 2010 at 11:45
Suppose in a POA, Mr x Mr Y and Mr Z were appointed attorney on behalf of the Company to represent the company before the statutory authorities. Now Mr. X has resigned and another Mr B and Mr C have been appointed. If the Company wants to replace Mr B and C then a fresh POA would require. But would the revocation of the earlier power in favour of Mr. X is mandatory to inform the statutory authority about the said resignation? Or a mere official letter will do. In revocation POA if we write that all the acts done by Mr X on behalf of the Company is revoked or will not have any effect, then would it create any statutory encumbrance? Kindly advise.
Rgds,
gaurav
31 March 2010 at 22:52
hello sir,
please advise me.on 5 march 2010 i bought a house on auction under SARFAESI ACT being the lone highest bidder and my price being over reserve price my bid was accepted n i was given a letter asking me to deposit 25% of sale price on the same day n remaing 75% in next 15days ie by 20/3/2010.(((it had a clause stating the bank can cancel my bid before i deposit the remaining 75% amount))) i deposited the remaining amount beforehand ie on 12/3/2010 n asked the bank for releasing sale certificate as per SARFAESI ACT the bank people didnt give sale certificate instead when i gave them an application for the same on 29/3/2010 on 30th march i recievd a cancellation letter dated 27 march with a check dated 25 march cancellation letter of the bid(earlier accepted and fully paid already) after 10 days of the deadline!!! and 18 days after full money deposition!!! with a payorder of the whole money by courier.it says"the bank has decided/authority has decided not to sell the property" the bank has cancelled after my depositing the whole amount which is against its own clause what should i do to get the sale certificate n the possesion of property.please advise.....thanks so much for your attention n time....
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