ASHISH
02 January 2016 at 15:53
Facts of the case:
Pvt Ltd Co in tobacco manufacturing sector with turnover more than Rs 200 cr. p.a.
My Query :
In Pvt Ltd or Company form - for saving the Directors from any liability under litigation, we can have safeguard of "Officer in default" concept where by passing board resolution / nomination done, Directors can avoid conviction. In LLP since concept of Designated Partner (DP) is there how can the Directors escape conviction, who will get there status changed to DP (in LLP converted from Pvt Ltd) & avoid conviction in any such litigation cases.
For such Industry is it worthwhile to continue in present Company form OR We should go ahead and convert into LLP.
Your expert opinion in detail (with pros & cons) will help many manufacturing co who are looking for such conversion decision aprat from Taxation advantages enjoyed by LLP.
Sudipta Dutta
01 January 2016 at 21:37
Sir,
We are a private Ltd. company incorporated under the company act 2013. Having 6 directors with following no. of shares
a) 4500
b) 200
C) 300
d) 1667
e) 1666
f) 1666
We took a resolution in a meeting where (a), (d), (e), (f) were present to open bank A/C with a bank and to be operated by (e) & (f) and they will be the authorised signatories for all transactions of the company.
Suddenly due to some difference of opinion (a) has intimated the bank to block the a/c.
Accordingly the bank has stopped operation.
My question, is it as par law is correct from the side of the bank to stop operation without getting any resolution of board.
Naveen Jain
30 December 2015 at 16:04
Section 196 contains separate set of disqualifications for MD/WTD Does that mean that Section 164 is not applicable to MD/WTD?
For eg even if a person is of unsound mind ( as contained in 164) he can still be a MD under sec 196
Tejasvi Redhu
30 December 2015 at 09:20
Hi I hv been working in Fis fr about an year now. I hv been sick in last 2 months. N last month when I was down with viral. I took 5-6 unplanned which are not encouraged here as its a bpo so my tl asked me to sign warning letter. I protested but he forced and convinced me to sign it. Last week I had cough and chest infection and I was advised by doctor to take rest and stay home. I texted my tl n informed him too. But after 3-4 days when I text him to ask about my pay which I fear might be held. He says that absconding ticket has been raised for me. I don't understand when he knew I am not well. How could he? My pay is now on hold and it seems my tl n my manager have harassed me.
vishal
28 December 2015 at 17:53
Hi Sir,
My father have took a home loan from Kangra Co Operative Bank (H.P.) in 2004 .And Not paid loan after 2008 or may be 2009 . So Bank has filled a case in a court . So Case is in Court .
Due to some incidence My father Met with accident in 2010 year, .And from that date he is in COMA stage . My Father is 70 % medically Unfit fit / Handicapped (report prepared By Medical Board ) . And we are in BPL category & no one is earning hand in My family .
We also submitted all the documents related to my father in bank branch. Branch persons are also aware with this accident .Also submitted Medical report at Court. Now case is in Court .
So can you please let me know is there any Previous judgement by Court/High Court/Supreme court for the Waive off of Loan . In Special Cases like accidental/Physcially Disable /or Below Powerty Line persons
But ,I want to know , Is there any procedures /sections to get waive-off of this loan or Please find or suggest any other alternate option for this loan which is a big burden on my shoulders.
Your Kind cooperation in this matter will be highly appreciated.
Regards
Vishal
Sheep
28 December 2015 at 17:16
We have placed an order on a vendor whose factory is located in Nepal.The vendor is not able to supply the ordered items owing to current political situation in Nepal.
Can we do risk purchase and debit the cost from the vendor's security deposit or the vendor can claim benefit of Force Majeure condition.
The Force Majeure clause is not mentioned in the agreement signed with the vendor
Basudev Munda
26 December 2015 at 11:23
I would be interested to know :Whether section 8- company under companies act 2013, allows us to receive grants/ donations from Government, private companies, Individuals and also from Foreign agencies ( under FCRA)for the works related to social work viz. non-profit in nature.
Also, about provisions of tax exemption in this act.
sanjeevkhandelwal
22 December 2015 at 17:08
Dear Member,
Let me Know the remedy on Partnership
Suppose A (Individual) and B (HUF) are partner in a firm. Firm itself assesses having PAN ,TAN & TIN
B (HUF) dies
what the further procedure for a firm
Can it run as usual coz die partner are Karta of HUF ( we Changing karta of HUF ) My opinion is that HUF can not die only partition are possible
Firm held only two partner one is individual and second was HUF
After die of karta of HUF partner can firm run with another member of HUF (as Karta ) with same PAN and TAN or it close Partnership firm with the immediate death of HUF Partner
Can partnership deed amended( taking New Karta of HUF ) or it make new one can avail new PAN & TAN no please suggest
Jayachandran
18 December 2015 at 10:08
My company is a fully owned State Government Undertaking wherein 70% of Share Capital is held bythe State Government and balance 30% by two State Government owned PSUS. The status of the company is 'private' and it cannot invite share capital from the public. Authorised Share Capital- Rs.20 Crore, Issued- Rs.18 Crore.
The company had received an amount of Rs.40 Crore from the State Government by way of budget allocation during 2014-15 as additional share capital. Pending steps to raise the authorised capital of the company to Rs.60 Crore, the above sum of Rs.40 Crore is shown as 'advance share capital' in the balance sheet for 2014-15. The auditor opines that the amount of Rs.40 Crore is application money and should be classified under 'current liabilities' in the balance sheet as per Schedule 3 of Companies Act 2013. Is the auditor's view correct considering the private status of our company and there being no liability to refund the share capital advance received from State Government otherwise than by way of shares which is held up due to the delay in raising authorised share capital to Rs.60 Crores?
© 2026 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
Never Got Any Offer/Appointment Letter And Employer Refuses
Hi,
I Joined A Company In September And I Never Received Any Offer/Appointment Letter From My Employer. There Was No Documentation At All.
I Was Unable To Continue My Job So I Just Called My Team Leader And Told Him The Same. I Couldn't Serve My Notice Period And Again There Was No Paperwork. They Marked Me Absconded.
I Walked Up To My Manager After Leaving The Company To Discuss My Salary Which My Employer Is Supposed To Pay And Their Excuses Are Mentioned Below-
1. You Didnt Serve Your Notice Period So You Might Have To Pay One Month Salary To Company.
2. You Won't Get Incentives.
Why Would I Pay One Month Salary To My Employer As They Never Gave Me Any Offer/Appointment Letter And I Never Agreed To Their Terms And Conditions?
Why Would They Not Give Me My Incentives since Documentation Never Took Place?
Thanks.