neha
30 September 2013 at 16:55
Sir, we are operating a partnership firm with 3 partners since 8 months and as such there is no land , machinery or asset in the name of said firm ,but using the personal land of one partner for production purposes. Now we want to convert it into a private limited company. The problem that arises whether we should go for part ix procedure as there is requirement of minimum 7 partners to convert a firm into a pvt company or simply we incorporate a new private limited company with main object clause in MOA to take over said partnership firm later on.
kindly advice me if there is any disadvantage of not following part ix procedure regarding income tax purpose and capital gain tax.
kindly send me procedure which is safe and advantageous in long term.
Thanks.
shashikant gharge
29 September 2013 at 14:00
Dear Sir
From 1998 to 2004 i did business with one partner ours was registered partnerdhip.my parner was looked after all the accounts and i was sales.in five years he was avoiding to settle the accounts he gave me amount only for expenses.he porposely kept away me from accounts but our business was profitable.we did leagal audits. in 2004 he told me to leave partnership.we cancel cst no's and stopped activities that time he was agree to pay me my share but year after year he is avoiding in this circumstances can i take leagal stand? and what point.please advise
Advocate.Amol Choubal
29 September 2013 at 08:39
Dear expert,
according to companies act,1956 minutes of board meeting are not available for general public.
if the company is an govt company can a lay man ask for copies of minutes of board meeting of a govt company under Right to information Act?
kindly revert
Sumit Tawari
27 September 2013 at 21:54
Hello All
One of my customer is not giving payment to us against material supplied by us. This company is public limited company> How can i go legally> Further I feel spome of their employee not interested to release our payment> can I file complaint against them? ALso can i file complaint against them as per companies act.
Pls guide and suggest any good lawyer in pune
AAK
27 September 2013 at 17:26
I request the learned members to refer advocate/s who are practicing at Chennai HC to file Winding up petition at chennai HC for recovery of money...( in all 3 petitions)
Regards
AAK
Arati Gawde
27 September 2013 at 15:37
It is on the subject of Dispute resolution clause in Service Agreement.
In one Service Agreement it was mentioned “Jurisdiction” clause in which it was stated that “The Courts of Delhi / Mumbai shall have Jurisdiction over all matters arising out of or related to this Agreement “.And in another paragraph it was stated provision regarding Arbitration clause such as Number of Arbitrator, Venue & that Arbitration award shall be final. My queries are:
a.In such type of Agreement which dispute resolution is prevail whether Court decision Or Arbitrator?
b.In agreement it was mentioned that “The Arbitration award shall be final and binding upon the Parties” then can that Parties of the Agreement are in position to go to the Court if they first approach to Arbitrator?
Jassi
27 September 2013 at 12:44
XYZ Pvt Ltd has 3 directors – A(33%), B(33%), & C(34%) with the said share holding pattern and a paid up capital of INR 1 Lac for 10000 shares of Face Value of INR 10/- each.
Since 1 Year, XYZ has not done any business. Director ‘A’ has not been attending office since December-2011 and the rest two directors ‘B’ & ‘C’ have also stopped attending office since June-2013. None of the directors have recently made any effort for the revival of the business and it seems very less likely that the company will be able to revive. Therefore, Directors ‘B’ & ‘C’ wish to dissolve the company, while Director ‘A’ is not ready for the same.
Please suggest on the following
a) In the current scenario, if Directors ‘B’ & ‘C’ wish to dissolve the company against the will of Director ‘A’, what options do they have and what is the process that they will have to follow? How much time and effort would it require?
b) In the current scenario, can Directors ‘B’ & ‘C’ expel Director ‘A’ from the company against his will? If yes, what will be the process and can they also retain the company thereafter?
c) In the scenario where Directors ‘B’ & ‘C’ resign from directorship of XYZ, but still retain the shares of the company, what would be their legal obligations towards the company or vice versa?
Nandesha
26 September 2013 at 00:48
I wish to Start Money lending business in Mumbai. Please help me with the legal procedure to register my self as a money lender (With legal formalities).I wish the company would be sole Proprietor.
Little knowledge I could know is that I need to register in accordance to money lending act . but no more data.
Please help me with a solution
Contact me on 9029023020 or 02266807777
Ganesh Verma
25 September 2013 at 18:08
Is it possible that conversion of an existing society to section 25 company.
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