S DEB
19 September 2013 at 12:17
In a wind turbine farm a contract was signed between the investor who owns the wind turbines and the operator of the wind turbine farm for operation and maintenance of the wind turbines. Wind turbines are located in an vast area and long lines of power cables run from the turbines to the electrical substation. The operator of the wind turbine farm have deployed security to guard their installation and electrical lines. Miscreants are quite active in the area and frequently resort to cutting and stealing the electrical cables thereby causing shut downs.
The question is whether such shut downs can be called a Force Majeure condition.
manoj
18 September 2013 at 16:46
1.merger scheme approved.
2.meeting waived.
3.Rd noc pending
4.meantime affidavit filed of RD queries to high court by petitioner pending reply by RD.
5.Now in final stage,some mistake found in valuation which is technical or typographical error.That Goodwiil added with valuation of Transferee Company with book value under average profit method out of three method applied.Goodwill value is correct under this method.But there is some error in other two method(super profit & capitalised method) which is just disclosure.Shareholder have approved average profit method.
My question is , is this mistake cancell the merging process or alter the exchane ratio?
Or this can be fixed by calling EGM or filing correct supplementry affidavit before final verdict ?
P.C. Joshi
18 September 2013 at 10:52
I shall be grateful for the comments of learned members on following query:
Company A deals in FMCG goods and for distribution the Company appoints Consignee Agent in all states, the Consignee Agent sells goods to wholesale distributors and whole sellers and then the goods are sold by them to retail stores.
In all cases there is an agreement between the Company and Consignee Agents (CAs). The distributors are appointed by the company jointly with CAs. One of the Consignee Agent has defaulted in payment and contended that the payment is due from a distributor say X. The Company discontinued the business with CA and at the time of settlement of account, the CA handed over a cheque issued by distributor X in favour of the Company directly. However, on presentation, the cheque given by the distributor(X) got bounced.
Can the Company file a complaint against distributor(X) under Section 138 of the Negotiable Instrument Act?
Please let me have your comments.
amol
18 September 2013 at 10:02
There is a Co winding up petition u/ 433 & 434 filed against the Respondent CO for whom i am an advocate. The Co Petition got admitted because of the non compliance of the initial conditional order asking to deposit claim of petitioner within 6 weeks from the dt of order however subsequently paper publication of admission made by petitioner as per the order of High Court. Thereafter due to non payment the Petitioner filed CO Application for appointment of Provi Liquidator in that application the High Court granted extension of time to Deposit the amount in High Court i.e. the calim of the petitioner and ultimately after admission of Co Petition the amount was deposited in the above CO Application thereby the claim of the petitioner is secured by the Respondent CO
Thereafter two other applicants have filed their Co Application raising frivolous claim also making a prayer therein to appoint official Liquidator.
One of the applicant already got the order from the consumer court for the identical grievance inspite he has used company petition as a tool to recover the amount.
The other second applicant already raised a demand to the consumer Court for recovery of money and compensation for non allotment of flat by Respondent CO the same is rejected and directed him to file Civil Suit.
In the above situation Court directed Respondent Co to file an Affidavit Disclosing Assets and Liabilities whereby the Respondent Co has disclosed on an Affidavit an unaudited statement of assets and liabilities for yr 31-3-2013. is it necessary to mention All the assets in detail or only Fixed assets Amount ....... is enough pls answer?
Inspite of above facts and main petitioner's claim is secured the Company Judge without disposing of his earlier Co. Application of the petitioner for appointing Liquidator passed an ad interim order of appointment of provisional liquidator in all comapny applications filed in Co petition.
Sirs Now Please guide i am in difficulty as the matter is kept immediately on next Tuesday
my Q are
1) Can the judge pass such an order ?
2)is it proper now to file a Co Application by Respondent Co before the same company judge high court for following prayers
a) to recall the order of Admission of CO petition on the ground that claim of petitioner is already secured
b) recall the order of ad interim order passed in all above co applications
c) to decide the Co application of the petitioner of appointment of pro liquidator as his claim is secured
d) to decide the other claims of the Co Applicants on its own merits and dismiss the same
sir i have a plan to do above whether it will work ? if not please guide as to what would be the next step which i must take to dismiss or recall the ad interim order ? Can a order of admission of Co petition be recalled by co Judge if petitioner's claim is already secured ? if yes under which section or Rule of Company Act or Rules?
please guide all experts of Co Law with section and Rule and Judgement
thanks
Vidya
17 September 2013 at 10:48
I am a first year LAW student, and I am planning to work my career towards Corporate/Cyber Law or Intellectual Property rights. Should I be doing any extra courses from now itself?
I have gone through a few courses from NLSIU, but I don't know if they are useful. Also, should I write CS for becoming a corporate lawyer?
Thanks!!
Durga chatterjee
15 September 2013 at 20:42
Dear Sir,
One of my friend has received an opportunity to be the part of an agency which is located overseas. She would like to take it and for the same she wants to know if she earns profit/commission from the same. What are the compliance she needs to follow to get the commission from overseas to India.
How much the tax she needs to pay for the same. Is there a slab for that too? If yes please share the slab for the same.
Regards,
chow supanu chowtang
14 September 2013 at 20:50
I AM PLANNING TO START UP A NEW SOLAR POWER PLANT WITH A MINIMUM ESTIMATED COST OF Rs. 50 LAKHS AND STAFF STRENGTH OF 50-100 IN ARUNACHAL PRADESH. WHAT IS THE PROCEDURE TO OBTAIN A LICENSE FOR STARTING UP MY PLANT ABOUT TO PRODUCE UPTO 5MW OF POWER. DO I HAVE TO SUBMIT THE AOA AND MOA FOR MY LICENSE. THE FEES AND TIME TAKEN TO GET THE LICENSE.
somesh
14 September 2013 at 14:56
Dear Experts
I have number of cheques issued by one of my client in late 2011 & early 2012
these cheques were bounced thrice and as i was on the side to maintain business relation did not took legal path to recover the amount.
but now non of the responsible person is taking my calls neither replying my mails even they are not ready to meet personally to clear the matter and the amount is huge.
Please advice how to recover this amount legally or illegally as this is my hard earned money and i am paying interest to the bankers for the said amount.
Awaiting
Thanks
Rohit
14 September 2013 at 14:25
I'm working on starting fast food business in Kalyan-Dombivli, Mumbai suburbs. I plan to go for a hawkers license since I will be selling fresh food products on foodvans.
I wanted to know the terms and conditions for hawkers license and also all the additional legal formalities required.
Rohit Patil
rsp191@gmail.com
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Fraud in my private limited company.
Dear sir,
I and one of my partner made a private limited company with paid up capital was of 100000 shares. The authorised capital of the company was of 400000 shares. The company consist of an agriculture property. 50% shares (ie. 50,000 shares) were alloted in my name while other 50% shares (ie. 50,000 shares)were alloted in my partners name as directors. MY Partner alloted the authorised capital shares (400000 shares) to some other private limited company (in which his son is director)without my consent and knowledge. Now, he has also appointed 2 new directors in the company without my knowledge and consent as additional directors. Now, my share holding in the company is reduced to 10% and his share holding has increased to 90% and 2 new additional directors are also added in company without any company meeting or my signatures. I am worried, whether my partner can sell the agriculture property in name of company without my consent and knowledge? what steps should i take to stop him doing so?