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 ?
Raj
02 September 2014 at 14:22
Hi,
I am Rajkumar.S from Chennai,as i aspired to create a automotive website i had done a few research and narrowed down to a website development company at Bangalore called Zinavo technologies, based on the requirements shared the team gave me a estimate period of 25 days to completed the project and wanted me to pay an advance of 60%(Rupees:21,000) of the project cost to start the project.Which i paid diligently.
Post the payment it has been more than two months and not even 5% of the work is been completed and they refuse to pick my calls or respond properly.
Thus i want to sue them or at least threaten them to take them to court thus my project is latest completed in 6 months time. i have all documents on the e-payment made to the company account, the proposal document explaining the clause on time period, which is digitally signed by the CEO and 100s of emails requesting for update.
Kindly suggest me a few options considering the budget!
Regards,
Raj
Rahul Shivaji
02 September 2014 at 10:48
I have computer training centre as a sole proprietorship firm. Can i have my branches on different places as i am sole proprietor.
Anonymous
02 September 2014 at 10:44
If some one opens computer training centre as sole proprietorship firm can he give franchise to others?
Uday Kumar
01 September 2014 at 16:43
Dear Sir,
A Pvt Ltd Company(Non Listed Company) were created in 1999 and 2 out of 10 Directors were resigned in 2002, Accordingly Share issued to 2 Director was transferred , Share Deed also got signed, Share amount paid in 2002 However, Share Certificate was not taken Back as they stated that same has been lost. We trusted and created a new share Certificate accordingly matter was closed. however after 9 years in 2013 they filed a case U/s 59 of Company Act before Company Law Board stating that They are Holder of Original Share Certificate and shares were transferred illegally in 2002. They even denied signing of any Share Deed.
Kindly assist and advise what should we do , we filed an application station that it is a time bared petition however CLB rejected the same and fixed for Argument after Written Statement + Rejoinder.
Kindly suggest what should we do , should we approach High Court of Delhi
With Regards
Uday Kumar
Pradeep Dhruva
30 August 2014 at 12:42
A is a pvt ltd co who has issued Non cum Non convertible Pref shares .The said Pref shares are due for redemption as the 20 years period is coming to and end in Nov'14. The co is unable to redeem but Pref shareholders are wiling to convert the same into equity shares by giving up all their rights title and interest both past, present and future. What procedure co has to follow?
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