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S DEB   03 September 2013 at 15:37

Contract

After signing a contract by both the parties the contractor found that his profit margin would be hit if he performs the contract as per the stipulated clauses because the price estimate of a particular technical item was not according to the market price at that point of time. Now he has offered a less costly item with different specifications but specifically guaranteeing the performance of the project as per the terms of the contract.

In the above scenario can we accept his request because it is only the change in technical specification of an equipment and that too without any financial implication.

Member (Account Deleted)   03 September 2013 at 12:04

Conversion of section 25 company from pvt. ltd. to public ltd.

A certain Flat owners association was formed in U.P. as a Section 25 Pvt. Ltd. Company Limited by Guarantee and having Share Capital in 2010 to look after the maintenance and welfar of the flat owners.Now its members desire to convert the said Company into a section 25 Public Ltd. Company Limited by Guarantee and not having Share Capital.Is such conversion possible under the existing provisions of the Companies Act,1956?

sachin   03 September 2013 at 00:50

Don't disturb my privacy

Can you advise me on cyber crime cell. How does Investigation process as No. of cheating cases have been registered.

Anonymous   01 September 2013 at 00:01

Kitchen Expenditure

Please explain me what is kitchen expenditure as per Indian law

shruti   31 August 2013 at 16:16

Passing of special resolution

Hi,
please suggest me on this query-:

if 25% or more than 25% of the share capital of company "A" is owned by company "B", then while passing special resolution in the company "A", what things that company 'A' should follow?

somesh   30 August 2013 at 19:09

Re : sarfaesi possession

Dear Sir,

If bank sends a sarfaesi notice which reads that said payment is to be paid within 60 days after which bank would take appropriate action
Also it reads will go to DRT for the whole recovery.

My query is what rights do bank has regarding this issue and what all actions would bank take to sort out this matter
last and most important what measure should be taken to avoid bankers to take possession (but do not want to go legal with bank) if the defaulter is genuine and wants to pay off the dues.

property was given as collateral for CC account in bank

Thanks in advance

Anirudha mukkawar   28 August 2013 at 09:53

How is allotment of share of privet limited company against land?

Respected member,
I and my father wants to register a new privet limited company for production of seed. seed company required agricultural land for production of seed. so I want to transfer my 5 acre agricultural land to company. And my father will transfer 10 acre land to company. then total property of company will 15 acre land. Against this land company will allot 33.33% share to me and 66.66% share to my father.
But how to legalizes this process.

kamalkant mishra   27 August 2013 at 15:28

Is hydrochloric acid banned on retail outlet?

Dear sir,we are dealing with repacking of HCl acid .On 16 July 2013, the supreme court passed an intereme order that acid can not be sale on retail counter unless follow some guidlines.we want to know that, is there any clarification that which acid is to be not sold on retail outlet? there are hundreds of acid there in the market.so far as acid throwing on face is concern we think only sulphuric acid is used for that purpose ,then why ban on other acid? some acids are used in fooding items also.
Pl.advise us the legal terms .
Thanks.

Anirudha mukkawar   27 August 2013 at 08:05

How a company acquire agricultural land of it's director?

Respected members,
If I and my father creating a company, how this company can have our agricultural land against allotment share to us.

akash   26 August 2013 at 15:21

Gave loan to a pvt ltd company, not able to get it back

Hello Experts,

I gave an unsecured loan of Rs 8 lakhs to a new private ltd company, which was being run by a friend. The company is now into losses and owes about 25 lakhs to suppliers. Now I want my money back but the co. is saying it does not have the money and keep me waiting. They have assets of Rs 20 lakhs and no other liabilities apart from my loan and the supplier payment, as they claim.

If the company shuts down, would the supplier be paid first or would I be paid first? I'm concerned that if all the assets are used to pay the supplier, I will not get back anything as I did not have any collateral security in the loan agreement.

Thank you