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Member (Account Deleted)   12 November 2012 at 12:32

Signing of annual report

A Pvt.Ltd Company does not have its Chairman of the Company. Each Board
Meeting, its Board of Directors are appointing Chairman for that particular meeting only.

Can the Annual Report of that Company for 2011-12 be signed by the Chairman of the Board Meeting at which it was approved, if so authorised by its Board?

koteswara rao jonnalagadda   12 November 2012 at 01:19

Information under rti 2005.

respected sir"s,
wish you happy diwali,
i requested icici bank by paying nominated fee of rs 10/- and asked for certain information about illegal debits to our current a/c under rca head.i asked for the respective debit amount vouchers or letter given by us.i am making a regular correspondence with them and now i demanded under rti.but they are not giving the information or not returning the money now they are claiming that icici bank will not come under rti act.kindly advise me is it right if so what will be my next course of action to collect the information and collect back our money.
thanking you,
with regards,
koteswara rao.j

srinivas desai   10 November 2012 at 20:59

Assets of partnership firm

Sir,
I would like to purchase a car registered in the name of a partnership firm. The person selling the car says, The Managing Partner will sign all the documents & put the seal of the company i.e. For seal of the company represented by the managing partner. I would like to know whether the sale is legal & whether the sale is binding on all the partners. If at a later date, some other partner raises a claim and files a case against his partner & me alleging fraudulent sale, what will the consequence for me? Will he have a claim of his share on the car? What is the correct proper procedure of buying such a car. Please reply early, thanks in advance.

MANOJ HARIT   08 November 2012 at 17:40

Mortgage.

Respected Experts,

ABC Pvt Ltd has mortgaged its' Fixed Assets with a Bank for Term & CC Loans by way of Regd Mortgage Deed & duly registered the same with the Registrar in 2003.
In 2010 an unsecured creditor got a money decree against the Company. It has filed foe Execution of the Decree.
Now it has moved an application under O 21 R 54 for attachment of the same property.
Is it possible? If yes,
What are the option for the Company.

Thanks,
Regards.

Ritika singh   08 November 2012 at 17:11

Whether creditor can decide appropriation ???

the loan agreement executed between a bank and a company . the appropriation clauses on default call for applicability of the agreement or in absence of the same sections 59-61 of the indian contract act .......can in anyway the creditor/lender/ bank determine the same on default???.......can the terms of laon agreement be altered for the same as far as appropriation is concerned??

Sameer Talha   08 November 2012 at 15:59

Order placed but vendor is not delivering the material

i had placed an Purchase Order through mail on A particular vendor and after 2 weeks he is saying verbally that he cannot supply the material is there any law which can force him to supply the material.
Note: Order was mailed to him through mail and no confirmation or acceptance is there in written. awaiting for your reply

shrey   08 November 2012 at 13:15

Stamp duty - takeover of business by company read more at: http://www.caclubindia.com/experts/ask_q

Dear Friend

Company is taking over running business of Proprietorship firm for consideration of 1 crore paid through issue of shares.

Properties under takeover are all MOVABLE. We have executed Takeover Agreement to keep things in written

However I find there is applicability of Stamp Duty under Entry 23 (attached herewith) of Rate of stamp duty as applicable in state of Delhi (under conveyance) as agreement talks of sale of property, however if sale purchase movable property individually no Stamp Duty is applicable.

Pl suggest how to plan this deal without paying any stamp duty

Sec 2(10) define Conveyance as :

“Conveyance.”

(10) “conveyance” includes a conveyance on sale and every instrument by which property, whether moveable or immoveable, is transferred inter vivos and which is not otherwise specifically provided for by Schedule I 5[or by Schedule I-A, as the case may be;]

As per transfer property act : every property which is not IMMOVABELE is movable property

Thank you in anticipation

jiten Agechaniya   08 November 2012 at 11:22

Exim

what is the proceeder of import&export of goods?

Abhishek P. Godha   07 November 2012 at 15:41

C form has not been issued by the buyer

One of my client at madhya pradesh has supplied material to a buyer in maharashtra. in the year 2009-10,2010-11,2011-12 and till july he was supplying the material. in the offer he mentioned the terms of lower sales tax against form c. but till now he has not received form c from his buyer. in madhya pradesh the trader has to submit the forms along with the returns on a quarterly basis. my client couldn't submit the forms with the authorities. and got a notice of paying the amounts of tax as per local sales tax rates plus interest and penalties as applicable in the state. still the forms are pending with his buyers. also he is having some amounts of buyer in his account. i would like to ask can my client do some legal actions against his buyer for non issuing the forms which has caused him of paying huge tax amounts.
thanks
abhk

Member (Account Deleted)   07 November 2012 at 10:11

Excise return -er-1

While filling online the Excise Return viz.ER -1, against the actual deposit of Rs. 55000 by mistake we have shown the amount as 50000 in the deposit column. As a result, there is a difference of Rs. 5000/- between the actual deposit and the balance shown in the said return.
How to rectify the above mistake in the Return?
Information is most urgently required by us.