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S DEB   08 November 2014 at 10:20

Damages in contract.

I invite solution to this legal problem.

A contract was awarded and the contractor submitted performance bank guarantee of Rs 60 lakhs. Work started by the contractor and at the fag end of the work the contractor abandoned the work. Work remaining worth of Rs 5 lacs was still to be executed. The contractor was paid in full for the quantum of work executed and there are no pending bills and liquidated damages cannot be levied as there are no running bills to be paid to the contractor.

Now the question is whether we can go for invoking the performance bank guarantee of Rs. 20 lakhs? If we do so can we say that the principle of "undue enrichment" does not hold good in this case ?

Vasu Moottu Kuzhiyil   06 November 2014 at 23:54

fund transfer from the foreign account to indian company

My friend is running a Pvt Ltd Company. He is in need of large amount to under take a new project. One of his friend have large amount of money lying in foreign country and ready to help him. He is willing electronic transfer of some money to the company account of my friend. My question are:
1) whether the details of source of this foreign money is to be mentioned in the Tax returns of the company?
2) Is there any restriction and ceiling for such fund transfer ?

RAKESH KUMAR SINGH   04 November 2014 at 21:41

Change the name of proprietor

Dear sir,
I want to change the name of proprietor of my firm and its to be done on the name of my brother and change in the address also.
my firm registered in Varanasi district and i want to replace It to Mau district.

please tell the law about that.

Bharati Agarwal   04 November 2014 at 07:30

Huf bank account

We had a bank account in the name of XYZ HUF wherein my husbandwas karta and myself(wife) and my two major-unmarried daugthers were mambers & cooparcenors.
My husbad, as karta, was signatory of the Bank Account.
My husband has expired recently.
I wish to continue the HUF and run it as earlier with myself and my two daughters.
Can we do it, Can we make myself or any of my daughter as Karta and make her saiganatory in Bank Account.Also please tell whether this reconstituted HUF without my late husband, can open a new bank account.
Please guide as I am advised diffrently by different lay people as well as by professionals and we are stuck up.
Regards.

discography   03 November 2014 at 20:43

Loan write-off policy how does it work

Dear Sir
I took a loan in 2006 for 4 lakhs, on the whole I have paid 70% of the amount. However I lost my job in 2008 and remained jobless for 4 years. I faced huge losses while working on a business. I am still trying to recover from those losses. Having sold all my gold I dont have options to repay the remaining amount. ICICI bank continues to report status to CIBIL. There is another bank (Kotak) which did write-off my loan basis my financial situation. Please could you advise, how can I approach ICICI and request them to write-off the loan.
Warm regards
Abraham.

CHIRANJIB RUDRA   02 November 2014 at 23:22

Offer of partnership in lieu of repayment of loan

Dear Experts:I had lent some money to a friend of mine as a short term financial support to meet an urgent requirement of fund for his partnership business. Can he now make me take up a share in the partnership in lieu of repayment of the loan ? Request expert opinion on the matter please. Thanks!

Manish dubey   02 November 2014 at 19:15

Regarding registration of travel agency

I want to know that what is the process and documents of registration of Travel agency.

pushpakrishna   02 November 2014 at 13:00

Chequ of 2005

Dear experts,
i have taken a loan of Rs.1,00,000/-from a person in the year 2005 and given a blank cheque with out mentioning the date and amount. later i paid the amount with in a year and did not taken back my cheque. now the person filed a case under section 138 of n.i.act.how can i defend whether the cheque is valid and it is learn t that as old cheques are not valid from April,2012.kindly advice on this matter.thanq.

hdshardik   01 November 2014 at 13:28

Mortgage property against proporty

my father wants to raise fund for business against business premises , in reference to this , is property mandatory to mortgage with registration ?

is RBI has make mandatory to all banks to get mortgage registered against loan against property ?when section 4 of Bombay stamp act 1958 is applicable and to whom it is mandatory ?

can our bankers put mandatory to registered deed ?

what is the benefit to us ? and bankers?

Rajendra Kashinath Patil   31 October 2014 at 11:43

Limited legal partnership law

i am having 2500sq ft commercial space at Pune.a private hospital is interested to start dispensory . so they offer me partnership on LLP basis.let me know advantage and disadvantage of LLP