Jacob M N
11 September 2014 at 10:44
Hi,
Want to know if there is a fundamental difference between transfer deeds and assignment. We generally talk of assignment with relations to transfer of claim, right etc.
But isn't unconditional assignment and sale practically the same. There may be some cases when the two may not amount to the same and there are of course some minor differences.
For example what would be the difference between an unconditional assignment of copyright and sale??
Again, we talk of assignment of insurance policies. Isn't it as good as transfer of all rights / ownership in that if it is an unconditional assignment.
Can you pls throw some light on this as I am about to draft an assignment deed and need some clarity. Your guidance will be greatly appreciated.
Sanjay A
11 September 2014 at 08:19
Dear Sir,
We are subcontractor who have executed part of project on behalf of turnkey contractor. The main contractor is in dire financial condition due accrued losses of earlier executed projects. They are in process of declaring themselves as Insolvent. There payments from the owner for which we have executed, are being taken entirely by their Banker.
Currenly our employer is due for last installment of payment from the owner.
Require guidance for how we can legally intervene and get our outstanding dues paid.
Regards,
Sanjay A
9049 474747
Din Dayal
09 September 2014 at 11:21
Section 160 of CA2013 says that a non retiring director seeking confirmation / appointment needs to file application to company either himself or thru a member with deposit of Rs 1lac.Deposit was only Rs 500 under CA 1956. My queries are-
1)Does enhanced deposit apply to additional director of a public sector company , recommended by the company board , seeking confirmation from ensuing AGM? If not , then why ?
2)Can a public sector company extend a loan to such addl. director for seeking candidature of directorship If yes , then under section of ACT.
KIND REGARDS
Suman M
04 September 2014 at 13:42
Hi,
I had a Credit Card forcibly given to me by ABN AMRO bank in 2006. I was just 18 years old working part time in a call center before joining degree college. This bank is closed now. I am recently getting calls now after 7 years by Kotak Mahindra Bank (Pheonix ARC) telling that i have 24,500 rupees balance in it and i have to make a payment immediately.
I don't remember having an outstanding balance on that, but they have sent me the card statements which has transactions in mobile showrooms back in 2007. Since the ABN AMRO bank is closed now and i have not been aware of this for so many years... what options do i have?
They DONT have any of my details like address, PAN, passport etc because i didnt have these documents in 2007.
Can this outstanding balance effect my CIBIL score when they DONT have any of my details... i have been getting loans and credit cards without any problem for last few years.
what is the law for stale debts in India?
Can i dispute these charges and refuse the payment?
please advise...........
dipti bansal
04 September 2014 at 00:08
sir,
to do estate agency business by individual , licence require coumpolsory
and from where vasai-virar muncipal or district office maharastra state
Mayank Arora
03 September 2014 at 23:21
Hello Experts,
I gave a loan to a pvt ltd company and they are not paying it back saying they are running into heavy losses.
Now, the 4 original directors of the company appointed 2 very junior staff members (who would have been getting salaries of Rs 10-12,000) as directors and then themselves resigned. As I suspect, this would have been to escape the liquidation formalities. The current directors have absolutely no clue and know nothing about the operations of the company. The previous directors sold the remaining assets for scrap so no assets are left now.
What should I do? Can the previous directors resign and make dummy directors like these? Should I file a cheating case against the original directors?
sujeet
03 September 2014 at 18:10
Sir, we r dealer of yamaha and banking with BOI since 2010,due to market trend we had financial loss, we approach for enhancement but bank took seven months to give approval with Lot of request and follow up.After approval dispersal of fund in account was after six months. In these period they charged interest on Wctl and other charges were taken.In this period they took additional property as collateral.Again in Feb 14 we approach for enhancing the account, every required documents and relevant papers where furnished by us, but again they turned down our proposal after four months saying your request is not upto rbi norms as your company had financial loss in last audited balance sheet. But they physically know that it was due to their fault.
Please advice what shall we do.
praveen kumar
03 September 2014 at 12:54
dear experts
when on the request of the party, an arbitrator has been appointed; can the party request for change of arbitrator as not being "competent or expert".?
Can any such request for change of arbitrator be made to appointing authority even after appointment of arbitrator as per legal provisions??
kindly bring some light on the issue.
regards
praveen
l devi
03 September 2014 at 01:06
Sir, I am from Hyderabad.the contract is made between client and the web developer for website development i would like to know weather contract drafted on letterhead of web developer company is valid one ? or do i need to attest stamps on it ? If i want to use a stamp paper, how much should be the value of stamp paper in AP state ?
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Victimisation by Bank
We a Pvt. Ltd. Firm, wherein my brother, his wife, myself and my wife were the directors. We were enjoying credit facility with our Bank, duly secured against our colateral assets and debtor payments.
In year 2008, due to heavy recession, our Co. underwent immense liquidity crunch. Our Bank turned down our request to enhance our credit limits. We then decided to sale off our joint household asset which was FREE FROM ANY encumberance.
However at the juncture of public sale notice. Our Bank intervened with objection against sale, as me and my brother were personal gaurantors to the company loan (no earlier recovery demand was made by Bank and all our collateral assets were still undisposed Year 2009)
Me and Brother agreed to handover our entire share to Bank subject to clearance of all Govt. Liabilities owed by company.
However after reciept of first installment of payment from our builder, Bank retracted from making payments to Sales & Service Tax.
Upon which we intimated Sales & Service Tax authorities to attach our personal accounts, where 2nd installment of payment was to be recieved.
Sales Tax dept. attached the account prior to reciept of our payment. Bank failed to make payment to Sales Tax. Sales Tax dept. then attached our other collateral securities, however all the payments recieved against sales of those securities has been kept by Bank in Suspense account to hide the details from persuant Sales Tax dept.
At current juncture still one final assest remains undisposed. Tax liabilities now have doubled. Further due to such grave act of Bank, our company has completely derailed and many Bank Gaurantees remain invoked by our clients. Company has remained defunctional since 2009. Bank on other hand has kept charging us interest.
My query,
What sort of legal action should I initiate against Bank.
Can I seek compensation from Bank for the loss of buisness and Bank Gaurantee invoked.