Decode Ballistic Reports Like a Pro. Register Now!
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

nemish jain   23 June 2015 at 11:54

Bank charged penal interest

sir,

i am a small businessmen,
and is working in scrap business

I took a bank Loan from a concerned bank,which included the terms that

you r not supposed to operate with other bank except the concernced bank Account from were i took the loan

i had an bank to be dealt for my inter bank transactions.
the bank noticed from my balance sheet that

i had some other bank besides the concerned bank

so they charged me the penal interest @ 2percent on loan account

pls help me to deal it for refund

Naina   22 June 2015 at 18:36

PIL against a telecom company

Dear experts, greetings to all of you !

I have recently had a very bad experience with a telecom sector company where I observed that this company sells its products to people in the area where they don't even actually provide services & on top of that, don't cancel the connection even after multiple requests for the same. This all has happened with me. I have further more facts about this which actually are completely against their social responsibility towards their customers. I can very comfortably call their behavior as "harassment". I visited this company's facebook page too, & see that it's not just me, all the same has happened with many other customers too who have cursed them on their page through comments on their posts.

I got so much disturbed with all this that I thought of filing a PIL against this company, because if they continue like this, they'll keep harassing many more people like this. But I don't know the pricedure at all. Can anyone of you become a guide to me in this ? I want to do this just for the sake of society at large.

Please leave your contact no. in the comments if I can get in touch with you for further facts.

Thanks
Naina

Aarti   22 June 2015 at 16:37

Non receipt of payments...

I own a proprietorship firm, making garments & supplying to corporates. In October, 2013, I supplied garments to a client whose parent company is listed on the stock market as well. The goods were supplied against Purchase orders and on the client's brand name.

In January, 2014 we were informed that they were closing down their stores and returning back the material. Initially we were not ready to accept it as the garments were made on their brand name but since we were not getting any payment from their side, we accepted the same on the condition of all expenses paid (transportation & octroi) & delivered to our office.

We have received goods from 7 stores but by the time we slowly received goods, over a time of around 6-8 months, they had sold off a major chunk of it and it all has accrued in the payments overdue. The company has a parent company who is majorly in to jewellery business and they are now insisting that we take jewellery against our payment as they won't be able to make the payment.

There is a very big catch here.. The company is in to supplying branded jewellery on MRP basis and is insisting that I pick the jewellery only from the few diamond sets which will be offered to me at their office, that too on MRP basis!

I have enquired from the market that the company is not using good quality diamonds, their certification is also fake most of the times and moreover picking the jewellery on MRP means I won't get more than 30% return of the value they claim!

I am planning to approach some media groups to highlight my issue since its a big corporate name. If anyone can provide any contacts on this, I'll be highly obliged!

Also planning to go legal. Any good but reasonable lawyer with prior experience of fighting such case against corporates, in Mumbai preferably, please contact.

Experts please advise.

nemish jain   20 June 2015 at 11:58

Start a barrel business

I want to start a barrel business and has duly complied all laws of companies act 2013

Which Acts i must refer
to study the specific statutory requirements for barrel business


i have company registered,is having vat registration,excise registration


also provide me details required to start a barrel business

Hir   19 June 2015 at 15:58

Salary encashment and payhold

Hi,

Pl do guide me for my salary of f&f have been processed but therez one row of pay hold amount and in leave encashment row there is some exemption how are these calculated..

Pl suggest...

Regards
Hir

Hira Kan   18 June 2015 at 13:37

Eforms to be filled with roc during the financial year 2015 - 2016

Can you please tell me the eforms to be filled by the company (Pvt Copany & Unlisted Company) on or after 01.04.2015 with ROC (MCA).

What are the eforms to be filled with ROC during the Financial Year 2015 - 2016 ?

Please guide me and help me out.

Regards,
Shital

Goapl Garg   16 June 2015 at 22:38

Sarfaesi act = notice u/s 13(2) & 13(4)

I have allowed my flat under mortgage towrads credit limit to my brother"s pvt ltd company and it is clearly mentioned in the sanction letter that my liability shall remain restricted to the value of my property under mortgage,i.e. the flat.My brother met an accidental death and his company turned into bad condition and his loan account has become NPA with liability of about 4.00 crore.

The bank has issued notice u/s 13(2) to the company and to myself as guarantor asking for payment of 4.00 crore.I objected thru my letter that I am not liable for the total outstanding but to the extent of value of my flat.Bank did not answer.Recently the Bank has pasted a notice on the wall of my flat u/s 13(4) and delivered notice to one of the resident of the society and made paper publication with the same amount.I again strongly objected in the same manner as earlier and as time for filing SA u/s 17 was nearing without any response from Bank, I had to file SA, had to pay Rs.1.00 as Filing Fees , on the same ground and submitted that the both the notice were bad as they have been issued to me asking the full outstanding instead of the property value as clearly mentioned in the sanction letter.Now the bank has issued one letter to me (after filing SA) that they agree that I am only liable for the value of my flat and hence I should pay Rs.1.20 crore(the Fair Market Value assessed by two valuers without my knowledge at all).I disagree with the valuation.It should be at least 30-40% less by going market rates in the area.
Kindly advise
(01) whether the Bank is right in doing so what it has done?
(02) what will be fate of my SA?
(03) what should I do under these circumstances?

I do have advocate who is looking after my case and I do respect him and his action who opines to wait for the disposal of SA.I approach this forum for opinions as this forum has seasned experts and their advice/opinion will reassure me and I shall have more mental peace and assurance.Please do help., Regards and thanks in advance.

Faiyaz Khalid   13 June 2015 at 19:19

Security agency licence in U.P.

I want to know the procedure of obtaining security agency licence. I've heard the security industry authority is situated in Lucknow but don't know the procedure! Kindly reply me in detail.

Advocate Ravinder   13 June 2015 at 11:02

Transfer of land to the company

Mr. X, his wife Y and his friend Z are the directors in a private limited company, X has 50% share, Y has 20% share and Z has 30% share in the company. Now Mr. X wants to transfer his personal immovable property i.e. open land of Ac. 3.00 gts in Telangana state (Non Agriculture) in favour of the company. Mr.X wants to put the property as stock in trade. Mr. X intention is to avoid Registration charges. Is there any method to transfer his land into the company name. I came to know that simple letter stating that Mr.X is handing over the possession by way of stock in trade is enough. Is it correct. Or is there any other way to avoid egistration/development charges. I request my learned friends opinion.

asrai   09 June 2015 at 16:43

Registration of a comapny

Dear Learned Members, please guide me on the following issue: We are planning to float a new Software Development Pvt. Ltd. Company with 2 Directors (they will be the Shareholders as well) with a Share Capital of Rs.1.00 lac. One of the Director/Shareholder is a NRI. Please let us what is the amount he can invest as Share Capital, whether there is any ceiling to it and whether he can get this amount through Automatic Route. Thanks in advance for the support.