V S Vaswani
19 August 2014 at 10:35
One of my friend was admitted as a new partner with 5% profit sharing in a partnership firm of a construction company. His share of capital is INR 3.5 CR. However, 80% of his share was in cash transactions.
The other 4 partners have deceived him by refusing him his share of profits and do not recognize his investments. Admission of New Partnership DEED is not registered document. Additionally, they have intentionally misplaced his bills of expenses.
He fears that he may not get legal relief as there is no proof of these transactions.
Hon. Subject Matter Experts, what would be an apt legal remedy for him in such a case?
Regards
Vrinda
shalu
16 August 2014 at 13:11
what are the legal formalities required to start a business ? mostly [trading] what is the difference between proprietorship and pvt ltd? how long it will take to get the licence? going for proprietorship is better than pvt ltd initially or vice-versa?
priyank
15 August 2014 at 02:02
Sir/madam
First of all Happy Independence day to all the members.
we are running a tiffin centre at our home where we used to serve food to limited people (max. 15 person).
Now my question is do we need to to register it under shop & establishment act , i am a sole propriter and none of the workers have been appointed except maid for cleaning & washing utensils ?
if yes then is any written deed to be made for sole propriter like partnership deed for partnership business for submission to the local labour commission office.
Thanks & Regards
Parag
14 August 2014 at 18:34
Dear Professional Colleagues,
I have a small query:
An partnership firm was formed in Mumbai on August 01,2011. The stamp paper was dated July 27, 2011.
Subsequently , there had been admission of two more partners.
Accordingly new partnership deed was signed.
The stamp paper used for the new partnership deed was May 16, 2013 whereas it was effective from May 01, 2013.
Request your valuable advise as to whether the new partnership deed is valid & acceptable for all business purposes including opening of Bank Account.
Thanks in advance,
Regards//
Parag Shah
pawan
11 August 2014 at 19:28
kindly help as per below in arbitration matter
Exparte proceedings started due to failure of party to pay its share of Arbitration Fees and cost and panelty.Party Moved application not to proceed expated but was rejected by Tribunal with remark that they are habitual offender.
1)My question can They participate in arbitration proceedings
2) What Right they still have ,can they cross examine the witnesses or can they demand any document , can they move any application before tribunal to delay or side track
3) can they still actively participate or will be mere spectaor or
4) they will not be allowed to sit in proceedings
Your early reply will be highly appreciated
Mayank Arora
10 August 2014 at 21:22
Hello Experts,
A person owed me some money and wasn't able to pay me back. Instead he said he'll give me shares in his pvt ltd company. He transferred me the shares using form 5 B and even made me a director.
I do not know much about accounting and did not check the credentials of the company. Later I found out that the company is in heavy losses and has a private loan from a person and now he's demanding his money from me.
What can I do now?
1. Am I liable to pay this money back since I'm a director (only on papers, I have never participated in anything)?
2. Can I take any action against the person who gave me the shares, since he didn't tell me about the loan?
arun shokeen
10 August 2014 at 19:40
A person get a vehicle financed and paid continuously the EMI of the same also got the vehicle Insured ,the same vehicle got stolen ,Person lodged FIR informed both financer and Insurance Company, Insurance company refused to sanction the amount without submission of NOC from Finance Company, Finance company imposed interest till the last date of finance including defaulting amount excluding the paid amount by the person, I need authority that Finance company cannot demand interest from the date of Loan and not after the date of stolen of vehicle AND if can then they have to exclude the amount already paid by the person, please help quickly ,argument on 12 August I need authority over the same.
priyank
10 August 2014 at 00:25
Dear Experts,
My query is me & my brother are planning to open a resturant serving only veg. food.
what are the licence do we require to take from various department to start this business. we are planning to open this in bhopal (madhya-pradesh) ?
thanks & regards
Siddharth
09 August 2014 at 15:22
Hi All,
I want to sue the Reliance BIG TV. I know it is a small compliant I have.
Complaint: I paid for one year activation on Nov 18th 2013. I called the customer care at 4:26PM and made the bank transaction at 4:30 PM.
Now in August, they say that I only called in for checking on my account but did not inform them to activate for one year. So they only gave me 9 months of service.
I am not stupid to pay the amount of 1 year activation around the same time of my call and not tell them to activate it for an year.
I have lost 3 months of service due to negligence of an employee.
If they say that they cannot help me, I want to sue Reliance. How can I do it?
This is how big companies make profit out of nothing. This is how they become so rich. I want to teach them a lesson.
Please advice.
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Ownership of business
I am owning a business (grocery shop) in Navi Mumbai, this shop has been on rental basis. I had kept 3 employees who were maintaining the business in my absence. Till March 2014 this shop was rented in my name and i was owning the said business. Due to some consequences i couldnt regularly visit the shop and check the day to day working, in the same period one of the employee turned out the rental agreement in their own name with the owner of the shop fraudulently and now are acting as if the owner of the business and not allowing me enter the said premises. Bank Account, VAT registration has been in my name, please advise me the step forward to take back my business from them.