Navin Pandya
01 January 2014 at 20:49
Dear Legal Experts,
Namaste.
According to provisions of Companies Act:
1. Under which section of the Act, a person is appointed Chairman Emeritus, even though not a director? The person who holds such position is convicted by court,he has appealed to higher court, not a director on Board, yet Board appointed him Chairman Emeritus.Is this valid?
2. A convicted director is eligible for reappointment after five years of completion of sentence, why not an employee who was dismissed for misconduct?
kindly clarify/advise on the above matter.
Best regards,
Navin Pandya
balaji
01 January 2014 at 18:39
Sir, Is there any limit/restriction for an nri to hold stake in private company which was acquired while being resident?
Bhagyashri
01 January 2014 at 13:12
One of my friend and I have got an opportunity from a relative in Canada to start an online Auction Site in India.
The concept is one will be able to see a Canadian product in an online shop in India and people can bid on it. The highest bidder ( from India) will get the product. The product will be shipped from Canada ( after paying all the taxes applicable ) to the highest bidder.
The question here is, is such business will be leagal business in India.
Can you please advise me on this.
Thanks,
Bhagyashri
hrishikesh
30 December 2013 at 20:25
There are 4 directors in a private ltd company.all having equal share holding of 25% one of the part premises of the company were sold and out of the money came
Guddoo Yadav
30 December 2013 at 16:12
Dear all,
I want to Start my own Money transfer services like other companies are doing e.g. Easy Bill,one stop shop etc.
I want to know what kind of permission i have to take to open a money transfer facility only for domestic not international. I don't want to go for franchisee system with any company .
Please let me know can i go as a propritorship bussiness for money transfer service. except this what kind of permissions i have to take like authorities- RBI, INCOME TAX DEPT. ETC.
Please guide me
Thank You.
hrishikesh
29 December 2013 at 21:57
. A company sold one of its part premises ,the money which came in
varunm
29 December 2013 at 12:41
Hi everyone.
We are a private limited IT Company (India) and had entered into a contract with a Foreign Company to provide software services and website portal.
It was a big on-going project. The foreign company provides work one by one and paid time to time accordingly to the us(Indian company).
some days before the foreign company ends the project and said that we are taking too much time to complete things. We explained to the foreign company that it was not our fault as the server was too busy to work on.
suddenly, the foreign company asked us to give the source code of the website portal and he has no issues for the non performance. we have acted accordingly and provides the source code. (note: the foreign company has ended the project ,not us)
The foreign company said " we are in the business and have no hard feelings. we would work on some other projects later" and suddenly signed out of skype.
later after one day , the foreign company send us an email stating that we have to pay penalty/fine for the non performance of the contract. and said that we have not completed the work on time.
first of all, contract doesn't have any clause for fine, penalty, breach of contract as well as time limit for the contract, as the contract was a on going contract.
Now they are threatening us that we have to pay the fine of 6000$ in 7 days, otherwise they will serve us with summon of the English court. also contract doesn't have any clause regarding any law or court, whether Indian or English law would be applicable if breach of contract arises.
(Note : they just send us a normal contract and a NDA agreement.
They have paid ,till now, to us around 7000$)
what to do in this situation and what are the defenses. and they have ended the project (breach of contract)?
Saloni Nigam
27 December 2013 at 12:40
Hello,
I want to start an online platform for social cause where donors, beneficiaries, volunteers and NGOs can interact with each other. Here, donors will be able to make online payment towards specific programs like education of underprivileged children or medical illness. The online website will retain 10% of funds as operating cost and send remaining funds towards the social cause.
This online organization should have the right to generate funds from individual and private companies based in India and abroad. Apart from that, donors should get 100% tax benefit on their donation amount so that they stay motivated to contribute. At present, I am not banking on getting government grants as I have heard it is a tedious process to register an NGO.
I would like to know what is the best suitable entity which I should plan to register (trust, society, foundation or NGO or anything else) which will fulfill above requirements.
Please guide on the steps of registering it.
Thank you so much in advance,
Saloni
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Conversion of firm and company into llp
My client is the partner in the partnership firm and also a director in a private limited company. Both the businesses are having the same business and object and are running very well. Now he wants to merge partnership firm and company in the new LLP (have to incorporate a new LLP). My questions are as follows:
1. What should I do from the following:
a. First incorporate a new LLP first with the main object clause to take over the business of firm and company or,
b. First converting firm into company and after that new LLP can be incorporated to take over a company.
2. As per section 565, for conversion of firm into company at least 7 partners are required but in my client’s firm there are only 2 partners. So how can I comply with the section 565?
3. Detailed procedure for the option suggested.