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N.K.Assumi   04 September 2008 at 10:55

Sovereign immunity vs International Commercial Arbitration;

Dear All,
There are strings of International conventions to resolved International commercial disputes such as the Geneva convention,New york convention,UN Resolutions, and Indian Arbitration and Conciliation Act etc.
My query is this? State itself is an abstract notion and it is run by natural man but again natural man alone can not function effectively to run the State, as such juristic person are created. Under International Law, State is granted Sovereign Immunity and all State are of ejusdem generis at least on this point. But gone are the days where sovereign functions were confined to the throne alone. In today's world sovereign sits in the market place such as the World Trade Organization by State Ministers and almost all the important commercial transactions are made by those juristic persons.
The question is whether Sovereign Immunity can be extended to those juristic persons such as the RBI etc.
Sovereign no longer Act as Dr.Jekyll and Mr.Hyde, and to protect her commercial interest it is actively sitting in the market place without shying away as in the olden days.Under the circumstances should it not be proper to extend Sovereign Immunity to State juristic Person?

rajendra   31 August 2008 at 18:06

subsidery company

what is the procedure to make a subsidery company of the existing company

Rupesh   30 August 2008 at 13:02

Small Causes case "HELP ME"

Plzz help me experts
I m having a project,in which v hav 2 visit the small causes bandra court & v have 2 write all details abt wht had happened in the court,
I visited the court but i didnt understand anything abt the case & the parties, so i m worried wht 2 wirte in project..
If any1 hav info or hav small causes case then plz let me know or 4ward 2 this ID rupeshlovesworld@yahoo.co.in
Even if u didnt got wht my project is abt u can c my frds project but he told 2 visit civil court
here is an e.g of My frds Project
"At 11.05am Honorable Judge Mr.Vinay G. Joshi came there in the court room.WHen he comes all poeple and advocates stood on their palces & gave standing aviation to the Honorable Judge. After Honorable Judge. AFter Honorable Judge sits on his chair, all people take their seats.
Afterwards the ofiicers started to announce the case no. & the Honorable Jugde started to concern with the advocates on that particular cases.
1st case was related to a person named Tukaram Chavan. But that case was not practised bcuz advocates were not having suffficient documents related to that case so, the Hourable Judge asked the advocates to bring as affidavit on next date of the case & the advocates gone away frm there.
Another case was related to the 2 old aged wife & her husband . BUt sum1 perso who was related to htt case, was absend.THerefore , tht case was also poseponed as previous one.
Afterwards, next case was started to concern . That was actually relates to a property containing a chawl & its surrounding premises in Anheri.Two Advocares were there to concern that case & Honorable Judge started to concern with those two advocates.
The above property was actually owned by MANAJI GUNTURWAR .He was the owner of that single floored Chawl & premises which were surrounding near by chawl.That chawl was built up by MANAJI GUNTURWAR in 1944.
MANAJI GUNTURWAR was having 3 sons.Out of them , 1st was BALKRISHNA GUNTURWAR & 2nd was LAXMAN GUNTURWAR & 3rd was PAPAYYA GUNTURWAR . Out of them BALKRISHNA GUNTURWAR was having 4 sons & LAXMAN GUNTURWAR was having 4 sons & a duaghter.BALKRISHNA GUNTURWAR was having room no.1,2,3,6,11 on grond floor of that chawl & some other rooms were owned by LAXMAN GUNTURWAR.
Mr.BALKRISHNA GUNTURWAR was built a shed on the premises of the chawl. BALKRISHNA GUNTURWAR passed away somewhere in 1978.HIs nominees of the properties claimed that the above shed is the property of themslves only.bcuz such shed was built up only by hard word of BALKRISHNA GUNTURWAR. THe actual reason of conflicts between them was nothing but that shed only.
The third nominees of the above property of MNAJI,his third son PAYAYYA GUNTURWAR was expried somewhere in 1962 & nobody was after him as is nominee. Therefore his share in such property was totally denied,There is no matter of his share in Property.
Only this much matter of this case was concerned in the court that day.FOr further proceeding of the case,Honorable judge Mr.Vijay H.Jishi gives next date."

surinder   29 August 2008 at 23:35

partner forcefully trying to evict me after 12 years in pvt ltd company

dear lawyer friends
this is top inform you that i had started a company with two of my colleagues working in the previous company 12 years back ,as we had the trading of computers as our line two people took up sales and one of them took up the responsibility of suppport and finance ,after the company has stabilised ,the support guy is asking us to move out by giving us a paltry sum,one of the partners has agreed while i dont want to give in as i have spent a good number of years in building up this enterprise

the clients that we brought in were not supported to that much extent as a result inspite of that there was no let up in sales at all

now after 12 years i dont have that much of energy to restart a new enterprise as now i am suffering from asthma and knee pains
it is my humble request to suggest me
a) how can this guy evict me?is it possible
b) it started with a partnership but we formed a pvt ltd after four /five years
c) what action can i take against this guy?
d) if i stop working and just sit down can he evict me on grounds of non working?
e) if i start a parallel company and keep on taking remuneration from this also ,will it be treated as fraud?
f) can he stop a buyer from buying the company?
g) how are the ways he can harm me?

an early answer would be appreciated

regards

surinder
an early reply would be highly appreciated

SANJAY DIXIT   29 August 2008 at 23:24

Railway Claims

If a person is travelling with a II class ticket but found in a sleepar/higher class coach in a train and it meets with an accident. What compensation would be given to the heirs of such a passenger ?

N.K.Assumi   29 August 2008 at 14:56

Value of Letter of Intent:

What is the value of letter of intent and what are its nature.

N.K.Assumi   29 August 2008 at 13:53

Forefeiture of Security in the Bank:

If a deceased left behind s security in the Bank, and no one claim that security eg, money in the Account of the deceased, what is the limitation period to forfeit such security to the Government etc?

Anusheel Tandon   29 August 2008 at 01:49

Power of Attorney (Special) for Company Incorporation

Hi

I am in the process of getting a new Pvt Ltd company registered. In the process, my agent has asked me to sign a POA with the purpose that he may make necessary changes to MOA and AOA during the registration process and according to him this POA will expire on the day I receive letter of Incorporation.. I am okay with that but the wordings of the POA are such that it look like an open ended document without any age limit set for it (as if it can be exercised even after we receive letter of Inc)... Pls let me know if I should sign it?... Can it cause problems later?
Wording of POA
-----------------
Ref: SRN
SPECIAL POWER OF ATTORNEY

We, the undersigned promoters of ‘XXX’, a company under incorporation do hereby authorise Mr. YYY, Company Secretary ,to carry out necessary changes, amendments, corrections and substitution in the Memorandum and Articles of Association and other documents submitted at the time of incorporation of the company.

All acts, deeds and things lawfully done by the attorney shall be binding on us, as if the same were done by us.

In witness whereof we have put our signatures hereunder on

-----------------

Thanks

Jaydeep Kurup   27 August 2008 at 11:27

NBFC regulations

Please pardon in case this is a wrong forum for this query. But i think our members are versatile enough to tackle any area.

An NBFC is required to maintain a min Net Owned Fund (NOF) of 200 lacs.

My query is what should an investment company (NBFC) do in case its NOF as at the end of the year falls below the stipulated limit due to a fall in the market prices of shares owned by it.

Does the RBI registration automatically get cancelled ?

Is it requried to mandatorily raise the equity ?

Subrahmanyam   24 August 2008 at 22:08

Write off of P&L Debit Balance

Can anyone kindly tell me if i can write off P&L Debit balance in a company's balance sheet from share premium account. is it permissible under any Act.