Arun Sharma
04 December 2009 at 17:56
Our client has made a Company in 2007. There are only two directors in the Company both are Indian but for last 5 years having taken the green card at Malashia and residing there. At the time of incorporation of the Company , they have disclosed their status as resident and not NRI.
After that, they have purchased the Agriculture Land in India and payment have come through NRI A/c in foreign currency and except this, there are no activity in the Company.
Now we have to do the Audit and prepare the ROC record of the Company, pls inform us that
1. whether there is any requirement to obtain the permission from the RBI to transfer and invest the amount into India.
2. Whether NRI can become the director of the Company without any permission or there is any requirement to obtain the permission to Incorporate the Company in india or not.
Waiting for the reply
Member (Account Deleted)
03 December 2009 at 13:45
a company has made a transaction u/s297 (lincse agreement) and has accepted money but not informed to RD. what is the procedure and format of the application to be made with ROC for compounding of offence. Vikram Dhanani
Member (Account Deleted)
03 December 2009 at 13:41
a company has made a transaction u/s297 (lincse agreement) and has accepted money but not informed to RD. what is the procedure and format of the application to be made with ROC for compounding of offence. Vikram Dhanani
Anonymous
02 December 2009 at 19:32
In an International Arbitration conducted in India under Arbitration and Conciliation Act, 1996 if an award is passed in favour of Indian Party, how the same can be enforced.
Learned experts are requested to enlighten the procedure.
Anonymous
02 December 2009 at 15:06
1. A is starting a cell phone company in india .
2. The company decides to import the batteries of the cell phone from abroad .
3. what are the legal provisions and acts that will govern and control such a transaction and business.
ankit.mrcool
02 December 2009 at 14:54
Respective sir,
i want to start a business in hair oil sector..but due to rural location..i am unable to seek professional advise..
so guys i need ur valuable advise..
tell me the procedure to getting it registered..and is there any regulation like license or something??
Rohan
01 December 2009 at 22:03
A relative of mine wants to start either a Sole Prop. Firm or a Partnership Firm. My request to law professionals is for a very brief outline of the steps reqd to bring into existence:
a) Sole Proprietorship Firm
b) Partnership Firm
I am a commerce student so i wud be able to understand the technical terms. So in depth details not reqd. But i request for the Broad Outline or a series of Steps.
Thanks a lot.
Anonymous
01 December 2009 at 19:20
I am in a situation where a cheque was given as part consideration for purchase of a property while execution of an “Agreement to Sell”. Now the said “Agreement to Sell” is up for Specific Performance. My dilemma is though the Cheque has been given by the buyer the Seller, who did not encash it. Seller demanded Demand Draft in lieu of Cheque after One month. Thus the cheque was replaced with Demand Draft. That too (Demand Draft) was also returned without assigning any reason. Subsequently, Seller assured the buyer, in writing to execute Sale Deed, with in four months. Where as Seller who is GPA of ‘Original Allottee’ never provided NOC from the ‘Original Allottee’ at any point of time to obtain mandatory permission to make a transaction, neither performed his part to execute “Sale Deed” against the Agreement to Sell, in reference. Thus, the same is up for Specific Performance, in trial court.
Do we have any judgement of Supreme Court or High Court for citation, where it is laid down that if a party gives a cheque to the other party it is onus of the other party to deposit the same for encashment and it will be presumed that the Buyer has discharges his obligation under contract by giving the said cheque to the Seller.
Anonymous
01 December 2009 at 19:16
I am in a situation where a cheque was given as part consideration for purchase of a property while execution of an “Agreement to Sell”. Now the said “Agreement to Sell” is up for Specific Performance. My dilemma is though the Cheque has been given by the buyer to the Seller, who did not encash it. Seller demanded Demand Draft in lieu of Cheque after One month. Thus the cheque was replaced with Demand Draft. That too (Demand Draft) was also returned without assigning any reason. Subsequently, Seller assured the buyer, in writing to execute Sale Deed, with in four months. Where as Seller who is GPA of ‘Original Allottee’ never provided NOC from the ‘Original Allottee’ at any point of time to obtain mandatory permission to make a transaction, neither performed his part to execute “Sale Deed” against the Agreement to Sell, in reference. Thus, the same is up for Specific Performance, in trial court.
Do we have any judgement of Supreme Court or High Court for citation, where it is laid down that if a party gives a cheque to the other party it is onus of the other party to deposit the same for encashment and it will be presumed that the Buyer has discharges his obligation under contract by giving the said cheque to the Seller.
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Arbitration matter
Dear All,
Can we make an application u/s 9 of Arbitration and Conciliation Act 1996 before the High Court, as the arbitration proceedings are already going on before the Arbitral Tribunal?
Sushil Bhatt