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.
hetalsangoi
08 August 2014 at 16:06
"Bar-coded labels are treated at additional declarations. Marking of additional declarations like the name of the retail dealer, sale price of the package being less than or equal to MRP declared
by the manufacturer are not prohibited. However, they cannot be used for upward revision of price."
is this statement valid after cancellation of std and weight measurement act 1977 .
i am carrying the business of books. is this mandatory on packing of books?
hdshardik
08 August 2014 at 15:41
will you give me guideline TO book business INDUSTRIES TO COMPLY WITH THE PROVISIONS
OF THE LEGAL METROLOGY ACT, 2009 AND LEGAL METROLOGY (PACKAGED
COMMODITIES) RULES 2011. THESE GUIDELINES ARE ON THE BASIS OF THEIR
PRIORITY.
is this act applicable to book business?
abhay dilip divate
05 August 2014 at 11:14
Respected Sir,
Which conditions are prevailed in the Contract Agreement either special conditions or general condition?
If any case law please provide.
Thanking you.
Hira Kan
05 August 2014 at 00:04
Dear Sir,
Our Paid up Capital is Rs. 25 Lacs and we have invested Rs. 25 Lacs in Govt Bond.
There is no activity since last 3 years in the aforesaid Company.
Can we distribute the investment of Rs. 25 Lacs to the share holders ?
What is the way out for FES ?
Can i close afore said Company under FES.
Please suggest.
Member (Account Deleted)
04 August 2014 at 17:50
Hi Experts,
My cousin is engaged in an legal auditing of a Bank, while in the course of their engagement they found that some of the documents presented by the Companies for procuring huge amounts of loan were not complied with the banks rules and regulations, such as all the Directors haven't signed the documents, No resolution date, some clauses were missing in the agreement.
So please let me know what is the remedy for the bank to be on safer side, and how should they assist the bank to make it correct.
Thanks & Regards in Advance
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Exparte rights in arbitration
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