Unsecured loan

Is there any service tax implication on a company lending money to another company, trust or any other person?

Can a Trust be formed for a Foreigh Beneficiary ?

Hi,

Can a Trust be formed in India with a sole Indian Trustee and a Foreign beneficiary ? The beneficiary is a minor and can get a court clearnace ( from country of his residence) for him becoming a beneficiary. The Trust formation is for a business purpose. Also , should the deed
be registered in India only ?

Thanks for your valued opinions

Shri

S.34 Petition before the Delhi High Court and District Court

undertaking of Loan by Bank

Dear Sir,

I took a Housing Loan against my property and submitted its original papers to the bank. which is separate from other loans running in the same bank. after some time,i got transferred my loan to another Bank and the same was under taken by it. that previous bank is now nethir release the papers of property to me, which I submitted to it for housing loan nor send the same to the bank which undertaken my said loan. what is the remedy for me.

undertaking of Loan by Bank

Dear Sir,

I took a Housing Loan against my property. which is separate from other loans running in the same bank. after some time transferred my loan to another Bank and the same was under taken by it. that previous bank is now nethir release the papers of property to me nor send the same to the bank which undertaken my said loan. what is the remedy for me.

Under what route a Holding Co can claim losses of Subsi Co

Financial of Company A
31/03/2008 31/03/2009
Share Holders Funds Amount Amount

Share Capital 88007100 88007100
Share application 13500129 89300000
Reserve and surplus -152348501 -161112162
Fixed Assets 11404007 7796689
Investments 4277 4277

Current assets 13971921 11248650


-25461067 35244554
Outside labilities

Unsecured Loan 59346484 0

Current Labilities 16874993 2854678

76221477 2854678

Net worth -101682544 32389876

Rs in Crores -10.17 3.24



Facts regarding the company

A was into the business as Quick Service Resturant and catering services starting from 1/4/2004 in the year 1/4/2008
A has changed it line of business limited to catering services only . The capital in the company was intodruced
by one of the group concern B which is holding more than 60% of share holding . However the balance share holding can
also be purchased by group concern B so as pulse may become 100% subsidary of B for merger purpouses . Company B can
continue catering business of pulse for next five years and keep the fixed assets intact for next five years as required for claming
losses


Year wise position of income tax losses
Time limit
Fy Year Assesment Year Loss Assessed for adjustment of losses
2004-05 2005-06 9134695 2013-14
2005-06 2006-07 23692370 2014-15
2006-07 2007-08 72306701 2015-16
2007-08 2008-09 66282482 under assesment
2008-09 2009-10 8861124 yet to be assessed


Under what route we should file a application before high court so as we can claim the losses

LIABILITY UNDER AGREEMENT

OUR COMPANY HAD BEEN SUPPLYING GOODS TO VARIOUS CONTRACT BOTTLERS OF A LARGE MANUFACTURER. THESE BOTTLERS/ PRINCIPAL COMPANY COULD NOT MAKE PAYMENT TO US . OUR QUERY IS WHETHER THE PRINCIPAL LARGE MANUFACTURER CAN BE HOLD FULLY RESPONSIBLE FOR MAKING PAYMENTS TO US.

Sarfaesi Act

Sir,
I am a borrower from SBI running (SSI)business for the last 20 & 10 yrs with the same Bank in two units (Proprietorship & Pvt Ltd)in the same trade.Both businesses started turning bad due to economic downturn as my basic Raw Materials are Petroleum Bye-Products & abnormal rise of prices saw my entire working capital wiped off.I wrote to Bank in Aug 07 before my Account was NPA for quick injection of funds for nursing the unit back to health.Although verbally assuring me,the bank fell into deep slumber once it found out that the advance was secured against my house property etc.I wrote a number of letters asking for financial support, but the bank did not respond & now they are threatening me with legal action if the Accounts are not regularized as they have turned NPAs.
My questions are:
1)Can I bring & sustain a complaint of damages against the Bank as in truth they have avoided any assistance in spite of my long track record.
2)As per Rbi guidelines banks have to complete restructuring within 60 days of receiving an application
3)Will i be able to hold back the might of Sarfeasi Act on the basis of complaint u/s 17(1),once the due process of 13(4) etc is over.
4)In the light of the above & the fact that the bank by its inaction has ruined my businesses do i stand a chance of negotiating for an OTS of 25% of the outstanding amount.
I will be obliged to receive any guidance/Assistance from the valued experts.
regards.
T.Chakrabarty

Corporate law

Sir can you tell me to be corporate lawyer which acts we should study?

Treatment of NPA in case loan covered by CGTMSE

Dear Sir,
I want to inquire as to what proceedings could be undertaken by Public Banks in case the whole amount of loan is covered under CGTMSE (Credit Gurantee Trust for Medium and Small Enterprises). The borrower is in the photographic industry and since the industry is near closure globally. So the NPA is not voluntary but market driven.
Please Reply at the earliest..!!!

Abhimanyu