Neetu Aggarwal
23 September 2014 at 18:04
Can A NBFC Can grant Loan to a Dormant Company.. Kindly advice.
regards
Neetu Aggarwal
Romy
23 September 2014 at 01:02
I want to seek opinion on fate of a partnership agreement made on non judicial stamp paper which we no longer wish to continue Now since it's pre business operational state and no bank account is opened in its name nor it's been registered
What do I need to do to exit it if thaw above state is true
What do I do in case it's been registered if I need to exit it
Chaudhry D
22 September 2014 at 11:42
Sir ,
75% of pre-deposit of awarded amount with interest has been held by Hon.Supreme Court as a must in order to entertain an appeal. The question arises - interest till which date should the party deposit, as parties are resorting to delayed/ abnormal delay in depositing the amount of interest -and that too - calculation is made till the date of filing the appeal - taking as long as 2 years to deposit the 75% amount calculated till date of filing appeal and this is being allowed by Guwahati High Court .
It is my contention that in all fairness - the Appeal should firstly not be admitted at all , and Secondly if at all Court allows deposit at a later stage, interest should be calculated till the date of deposit -(2012) 6 Supreme Court Cases 345 "Goodyear India Limited v/s Norton Intech Rubbers (P) Ltd "
In Goodyear v/s Nortan Rubber (2012) 6 Supreme Court Cases 345 - Hon.Supreme Court allowed the Plaintiff to deposit money in the Supreme Court and there-after remanded the case for hearing to the Madras High Court.
The Madras High Court , as per judgement available in Internet dated 21.3.2013 2013(5) CTC 25 has held that the Appeal is time barred - in view of the non deposit of 75% which is mandatory and has dismissed the Appeal.
My question - has the Judgement of Madras High Court become final or the parties have again challenged the matter before Supreme Court and is pre-judice ??
Can the matter of 75% pre-deposit before an appeal is filed be taken as good law having been settled - without which all appeals filed by agitating party will /should be dismissed?
In my case before Aizawl Bench of Guwahati High Court , the Project Pushpak , has not deposited the 75% amount calculated till ??date of filing of appeal ?? or date of payment and has been taking time whenever the matter comes for hearing and Hon.Court has been allowing it - thereby delaying the finality of judgement. Can anybody suggest further course of action ??
Thank you for prompt reply in advance.
Abhishek Mawle
21 September 2014 at 13:43
I had obtained an education loan from State Bank of India for pursuing Master’s education. I along with my father are Joint Borrowers for the education loan. Among other documents, I and my father also executed an arrangement letter cum Loan sanction letter along with terms and conditions, Dt: 27/12/2006 at point no.6(2a) of the said letter under sub heading SBI Life Yearly Premium which reads “SBI Life Yearly Premium to be debited to Loan Account:Re Obtain SBI SHIELD before disbursement of loan”. This arrangement letter was signed by all the parties to it i.e. Joint Borrowers ( myself and my father) and Astt.General Manager (RACPC), State Bank of India.
I had requested the Central Public information officer to give Copy of the insurance policy “SBI Shield” covering the lives of the “Joint borrower” for Education loan as per the terms and conditions mentioned in the arrangement letter, under the RTI Act 2005, as per my application dated 10-04-2014. Thereafter I received reply from Central Public Information Officer, Ref: Lr. No SARB/SVR/2014-15/24,Dt: 08/05/2014 wherein he has expressed the inability to furnish the Copy of the insurance policy “SBI Shield” covering the lives of the “Joint borrower” for Education loan "as there is no stipulation in the arrangement cum sanction letter for obtaining a life insurance policy of the borrowers as per the terms and conditions mentioned in the arrangement letter”, Which is a lie and completely contradictory.
I was not satisfied with the reply of Central Public Information Officer hence I filed first appeal. I filed an appeal with the appellate authority with an additional document titled "Most Important Terms and Conditions" issued by State Bank Of India Corporate office to all State Bank of India Branches across India point No.4 under sub heading expenses considered for loan which reads “Premium of the insurance policy covering the life of the borrowers of the loan”. I did not receive any reply.
At the time of availing the education loan,the bank has taken a “SBI life insurance policy”(SBI Shield) for Rs25.00 Lac in the name of each borrower i.e myself and my father from its sister concern SBI Life Insurance Co.Ltd and assigned itself as the nominee in the case of death of any borrower. At the time of disbursing of the loan the bank has taken the signature of the borrowers in the life insurance policies and letter of assignments which stands in the favor of the bank as beneficiary. As such the bank has taken the “ SBI Shield ” in the name of the borrowers before the disbursement of the loan.
The bank is silent whether they have encashed the life insurance policy standing in the name of the second borrower i.e my late father.
After adjustment of the loan outstanding amount with the benefit of the insurance policy of Rs 25.0 Lacs.I am entitled to balance amount of insurance policy which is approximately Rs 9.0 Lacs.
Can I file a civil suit against the bank for breach of contract, dishonesty, cheating or any other provisions etc and claim damages, other reliefs. Please suggest.
Sushil Kumar Sharma
19 September 2014 at 10:44
Dear All Experts,
Can a non judicial stamp paper purchased in the year 2009 be used for the same purpose today.
An early reply is highly appreciated.
Thanks in Advance!!!!
Sreejith
18 September 2014 at 18:38
I would like to know what all kinds of registration process have to be completed for my Travel and Tourism Firm in Kerala apart from Partnership deed registration. We are also intending to start Air Ticketing in near future.
Vandna Arora
18 September 2014 at 16:59
Dear Experts,
My father in law took an agency of Bata Shoes in 1990. at the time of taking up the agency he paid Rs. 1,00,000/-. My father in law expired in 1991 after that My husband wrote letters to Bata asking for refund but they did not reply finally they replied back in 1995 and said as per their books amount is standing outstanding and pls asked to furnish successtion certifiate and original death certificate.
Due to some internal problems we could not handle the matter at that point of time and after that it just slipped out of mind. now we have been sending them letters to know the amount so that we can file for succession certificate and Bata is not responding please suggest what is our recourse.
Thanks in advance for your expert advice.
Regards
Vandna
Mayank Arora
15 September 2014 at 23:03
Hello Experts,
I gave a loan of Rs 6 lacs to a Pvt Ltd Co. The company has to give me an interest of Rs 30,000 but is not paying due to financial difficulties. I sent a legal notice to the company through an advocate.
1. The legal notice only asks to fulfill the agreement without citing any sections of the Indian law at all. Is this a valid legal notice?
2. Can I file for winding up of the company? I was told the minimum amount is Rs 1 lakh, but amount due to me currently is Rs 30,000. The company hasn't responded within the 15 days given in the notice. Can I initiate any legal proceedings immediately?
Anonymous
15 September 2014 at 20:46
A (one businessman) sold some goods to B. B paid the part value in cash and issued a cheque against part payment. On the back side of cheque B wrote "cheque issued as security"
Now should A deposit the cheque for encashment in his bank account, what if cheque dishonours. Would A able to proceed for sec. 138 N. I. Act.
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