Navin Pandya
29 March 2013 at 22:02
Dear Legal Experts,
Sub: Investigation of Affairs of Mahindra & Mahindra Ltd.
As an employee-cum-small shareholder of Mahindra & Mahindra Ltd., I had exposed mismanagement, oppression and unfair labour practices within the Company. In 1988, on getting assigned higher & more work responsibility without promotion, I was exploited by the bosses. The company had different grades but no grade wise job specifications. The Company Management did not resolve the dispute till my dismissal in October, 1991.
After serving me bogus charge sheets, I was suspended in September, 1991. Immediately after my suspension, I approached the Department of Company Affairs, Govt of India, seeking investigation of affairs of the company & protection under the Section 635 B of the Companies Act, 1956 but the Department failed to take necessary action in the matter.
In 2007, under the Right to Information Act, 2005, I asked for the ‘Action Taken Report’ on my letter of September, 1991. The Registrar of Companies, Mumbai issued Notice to the Company under the Section 234 0f the Companies Act, 1956. The Company provided false information as a reply to the Notice.
Despite repeated efforts & follow up, the Registrar of Companies is not investigating the affairs of the Company & has closed the issue.
I have raised various issues concerning the Annual Reports of the Company but neither the Company nor the Registrar of Companies is providing the required information.
In 2010, after the conviction of Keshub Mahindra for the Bhopal Gas Tragedy, the Company got published bogus paid news report misusing the LIC’s name as an Institutional supporter in the AGM in The Economic Times in favour of Keshub Mahindra for his re-election as a Director of the Company. Subsequently, the LIC informed under the RTI Act that it was not at all involved in the report. This means that Keshub Mahindra misused his bail to influence Institutional shareholders for his re-election as a Director. How the Prime Minister’s Office appointed Keshub Mahindra as a Member of the PM’s Advisory Council on Trade & Industry even though he was charge sheeted for Bhopal Gas Tragedy?
In 2008, the Company filed bogus Petition against me in the Company Law Board for my issuing the Notice for removal of Directors but the Company got ex-parte Order even without serving a copy of the Petition to me. The Company had engaged Darius Khambata, the present Advocate general of Maharashtra. The Company Law Board has misplaced this file.
In 2010, the Company filed bogus Petition against me in the Company Law Board & wrote to the Mumbai Police for preventing me from attending the AGM-2010.The Police & the Company attempted to abduct me early in the morning from my residence on the day of the AGM-2010 even though the Company Law Board had not granted any relief to the Company against its Petition. I was forcibly prevented by the Police and the Company from attending and participating in the AGM-2010. This was reported to the Registrar of the Companies & the Police Commissioner but no action is taken against the Company till date. Later on,the Company Law Board had forced the Company to withdraw its Petition.
The Company did not handled my proposal as a Director as provided in the Companies Act and has not provided me the CD of Video Recording of the AGM-2013.
Kindly inform about the legal remedies available to me.
With best regards,
Navin Pandya
SUBHADEEP MUKHERJEE
29 March 2013 at 19:15
Dear Friends... Can any one pls provide me with MOA & AOA for a private ltd company of Bricks and Blocks Manufacturing Company
V. Natarajan
29 March 2013 at 16:01
A Pvt Ltd Company had distributed 7600% i.e. 76 times the face value (Rs 7600 as dividend against every paid up capital share of Rs 100). By this act the directors have emptied the coffers. This interim dividend by the directors has not been ratified by the general body of shareholders though 2 AGMs have been held consequently after this. The interim dividend was declared in October 2010, and the subsequent AGMs were held in August 2011 and August 2011 for the relevant years. Does this action of the directors attract contravention Rule 2 especially Rule 2(4) of the Companies (Transfer of Profits to Reserves) Rules, 1975 ?
The company is driven to liquidation because of this act and the fixed asset where the registered office of the company was located has been sold. This act of sale of registered office has not been intimated to the authorities nor has any alternate registered office address been communicated to any one including members. By this act has the company or its directors disregarded or flouted any rule of sections of companies law or any other law in vogue?
varghese
28 March 2013 at 21:03
Sir, I have availed a personal loan on my credit card a/c, after much persuation from the abnamro bank field executives, when they launched their operation in India during the year 2008, their main motto was to catch as much fish as they can and am the one who caught hold of in their net.The said loan was not at all required by me at that time and self refused to avail it, but one of their female executive approached me and she stood as guarantor for my loan to get some monetary benefit and promotion to their career. Seeing my good returns, the bank had issued 3 credit cards, and two loans, all the credit cards and loans closed except this personal loan. When my business returns started deteriorating, self approached the bank to foreclose the loan a/c on 22nd March 2010 (thru e-mail) an received a reply on 23rd March 2010 that they have already forwarded my request to the concerned manager for the same. But they didn't do anything, and kept mum over a period of more than 2 and a half year. Whatever amount kept for the loan closure purpose had been utilized for monthly EMI upto June 2011. As the bank didn't take any action on my foreclosure request, self approached M/s Debt Doctor India Pvt.Ltd., a Bangalore based financial management company, to resolve the issue thru them, for which I had paid their requisite fee also. I thought that the Debtdoctor is being on the job and they will take care of the loan a/c finalisation. But during the last week of Feb.2013, two people came in front of my residence and told that they are coming from Kotak Mahhindra Bank to collect the balance pending loan amaount with ABN Amro Bank. Self inform them that I have not received any notifications from ABN Amro Bank about the transfer of liabilities to your bank so far and they insisted on that. In the meantime, self contacted Debtdoctor India, Bangalore about this development and they told that they are also not aware of this.
Now, this kodak mahindra collection agency
threatening me if I have not paid the balance amount. Self informed them that I have not taken any loan from you, as I have not received any intimation from the lender bank about the transfer of the liabilities to your bank.
I had tried my best to foreclose the loan a/c during the month of March 2010 but lender bank didn't do anything which has resulted the balance amount still pending for a period of nearly 3 years. All the documents pertaining to the loan, request etc are still with me. I had paid 36 instalments out of 60.
Literally speaking, a toal of Rs. 2,68,000/- out of 2,92,000/- had been paid.
Now, am a retired person and no any income except some meagre pension amount. I am not all able to pay more than 50-60k, as total settlement out of total pending including interest of 1.10k.
Please suggest your valuable advise on this matter. As per my calculation, a total sum of Rs.1,10k is pending including principal and interest. My offer is for 55-60 k in 4-5 instalments. Please suggest a suitable action on this matter.
with regards
MANOJ
28 March 2013 at 18:03
My father was a contractor for the MES, under the name of Insulation Engineers as a Sole-Propreitor. When my father died unexpectedly, I was told that I, or any of the legal heirs, will not be able bid/quote for new works under the name of Insulation Engineers.
I'm told that unless the sole-proprietor had issued a power-of-attorney to one of the heirs and had made that particular heir to undertake any of the works that he had won by bidding. My father was in the process of taking that step, and had given the power-of-attorney to my sister, since I was away.
My father was doing work under that name for 30 years, I do not want to lose the one thing that he worked so hard for.
manish mundra
26 March 2013 at 09:14
If the bank do not make reply to representation made by guarantor accoding to section 13(3A) of SARFAESI act, then can it be assumed that the guarantor has been relieved from his guarantee? Can bank again enforce this guarantee at later stage ? can bank take a plea that the reply could not be made because of any reason? whether drt/court has power to condone delay of bank in making reply under section 13(3A) of SARFAESI Act? whether bank can issue fresh notice u/s 13(2) of SARFAESI Act so as to correct its default of non replying to the representation made by guasrantor?
Ritika singh
25 March 2013 at 11:53
can a bank appropriate money in a fixed deposit account of a guarantor towards a defaulting loan account of the principal debtor. can the same be adjusted without informing the same ??......is there an express contract necessary for the same.???
atul mehta
24 March 2013 at 15:14
what is the period of validity of collector order or district magistrate order granting permission to the bank under sarfaesi act to take possession of residential house.
In my case the bank took order one year back after my account was classified as NPA then during the period they did not take action as I paid slowly about 70 percent of the outstanding.
Now again the bank is threatening me that they can will take possession of my residence on the order given by collector one year back. please help me to know if the same is valid or they the bank was to take a new order.
Thank you for the cooperation
cherry
24 March 2013 at 09:14
Party(A)buyer from Maharashtra Party(B) seller from Gujarat in yr 2010-11 Party (C) agent from Gujarat. Party(B) sales good to Party(A) again `H` form, Party (A) give him all payment, and party(A) file all his return in Maharashtra sale-tax department and received `H` form on 2010-11.Now in Party(A) and Party (C) occurred sum problems and Party (A) hold all party`s `H` form, and now party (A) say to all seller if Party(C)agent when gives his claim then i give you `H` form .in dispute between (A)&(C) all seller are come in trouble. So in what legal way all seller can get his `H` form. if all seller give him notice then seller pay TAX+ interest in Gujarat and seller go to court again party (A) but it`s long procedure and May seller face trouble to get his TAX-Interest amount from Party(A). 1) so if Any other legal procedure to get `H` form. 2) If all seller go under RTI (Rite to information Act) to Maharashtra sale-tax department and give application to them, then Maharashtra department may give his `H` form detail or buyers CAT return copy and also confirm he issue `H` form an mention `H` form number, if MH ST dept give him detail then seller submit this detail in Gujarat then it`s valid ?(B`coz party(A) file his CST return and MH ST dept issue him `H` form.) 3)If seller present Xerox copy of `H` form with Maharashtra sale tax related/supported document who he get from under RTI, then it`s valid by Gujarat VAT department ? 4) in one side Govt give relief to exporter and other side create `H` form liability on seller, also Gujarat state seller don`t sale again vat value, If Gujarat seller want to sale his goods on Maharashtra buyers then he must sale his goods on `C` form or `H` form. why not Maharashtra buyers can`t buy again full payment of VAT of Gujarat state ? 5)If Government want give benefit of tax(VAT) to the Exporter then why he can not give him direct TAX credits like 1% Duty drawback ?if buyer default then why seller pay tax ?if govt want to give him relief then why he don`t direct Tax credit system ? 5) I think sum one file this problems in court under PIL (Public Interest Litigation).
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Debtors receivable problem
Dear Sir/Madam,
I am a small trader having a turnover of less than 30lacs. My Debtors dont pay me in time in given credit period. Due to which i am facing cash crunch in my business. Many follow up phone calls for payments are made but the debtors give money on lag of more than 6 months and that too they dont give us bill to bill amount. they give 10% - 15% less of bill amount. As we loose margin and receive amount very late.
I total have dues to recover from a party that gives very late is 4lacs.
Kindly help me so that they give money in time.