abdulkareem h nagouri
19 June 2012 at 20:51
Dear sir,
i Want to know what is the proceedure for registration of chit fund business and what document is require and what fees will be levied for the same, and an individual conducting chit fund business could get the registration under chit fund act 1982 and what is proceedure applicable for such individual person for regisration of chit fund
K.K.Ganguly
19 June 2012 at 20:03
Would the Ld. Experts kindly opine on the following:
A) A Small & Medium Scale Enterprise (Tailoring Shop) owner had taken loan from Bank for Rs.19 Lakhs for buying machines for enhancing production as per the guidance of one broker who had contact with Bank & who took 10% towards commission for arranging loan,
B) The broker made the project report for the SMSE & charged Rs.80,000/-,
C) The broker arranged for the machinery for Rs.9 Lakhs from a supplier which costs Rs.5 Lkahs only as found later on by the uneducated owner of the SMSE,
D) The Bank also took a consent letter for covering the loan under Central Govt. Credit Guarantee Scheme,
E) The Account became NPA & the Bank has filed Application before DRT u/s19 of Recovery of Debts Due to Bank & Financial Institution Act and asked for order for taking possession of the hypothecated machinery for recovering the dues,
F) Meantime the Bank also has advertised in paper for OTS for all SMSEs including those against whom Applications have been filed before DRT.
My questions are:
1) Can Bank file Application before DRT for taking possession of the hypothecated machinery for recovery of the outstanding amount when the said loan was already covered under Central Govt. Credit Guarantee Scheme? Can Bank recover the outstanding twice, once from Central Government and again from the borrower?
2) When the Bank advertised in paper regarding OTS from all SMSEs including those against whom Applications for recovery have been filed before DRT and when one SMSE applied for such OTS, did it not make the Applications before DRT for recovery from him ineffective?
Amit Kumar
19 June 2012 at 18:50
Dear all i urgentely need a sample format of agreement to lend money (loan agreement)
if any one can help i will be obliged.
thanks & Regards
sahil gupta
19 June 2012 at 16:18
Dear Expert,
Our company "A" has rented a shop in a mall (at Indore, M.P.) on leave and license basis to a Restaurant chain (owned by a company "B"). "B" has not paid License fees and Service Tax (Rs. 4,63,639/-) as agreed in Leave and License Deed. "A" has furnished statutory notice under section 434 of Companies Act on 27/4/12 via Regd. Post.
My Question is:
A. Is "A" entitled to file Winding up petition based on above facts.
B. Any court fee is to be paid by "A" if it wishes to file a Winding Up petition.
C. What is further course of action (Steps) to file Winding Up.
D. Any alternate remedy to recover these dues.("A" wants to avoid Court Fees)
vikas
19 June 2012 at 02:34
i purchase two machine of rs 5.5 lacs from some one and he made an affidavit in which he mentioned that i have paid him 11000 advance and 2 lacs would be paid in 2 months and rest of the money would be paid in 4 month total 6 months against the machinery.i have given him 10 cheques to him which is mentioned in affidavit.he also mentioned that i cannot sale the machine until i paid him full amount to him.
after 2 months i gave him 2 lacs rs. by another cross cheques and take her sign on the paper in which details were mentioned of the cross cheques. so the cheques which are mentioned in affidavit were not present in the bank of rs 2 lacs in first 2 months.
then after 3.5 months i paid him 2.7lacs cash to him and take her sign on the normal paper and asked him to give my cheques of rs.4.7 lacs back to me which are mentioned in the affidavit
he told me cheques are not with me i will give u afterward.after giving cash i asked him daily for cheques of 4.7lacs but he ignored me.
in the meantime of six months the market was very down and my business was in loss and my whole business was shutdown and my machinery were kept in the rented place for which i was not able to pay the rent and i was not in position to bear more loss so i sale the machine
69000/- thousand were pending to pay so i told him that i am not in position to pay now u because my business was shutdown
then he threatened me that he will make legal proceeding against me and will take 5.5 lac of full amount from court how can u sale my machine without paying me
so i made all the 10 cheques stop payment in the bank and i am having both the paper which is signed by him of amount 4.7 lacs
i have also a phone call record of between us which in it i am asking of my cheques to give back to me and he also accepting on phone to give back but he actually don't want to give me cheques
and i have not paid the balance amount 69000/- and sale the machine so what can i do next
i am not in position to pay him the rest amount no notice or legal proceedings are proceed by him yet
MANJUNATHA.K
16 June 2012 at 12:51
Hi,
This is MANJUNATHA.K
My mother paid a every month installment to "sri shiva sai developer" for allotment a plot but end of the movement their not allot the plot for some govt problem, and sri shiva sai developer gave a cheque to my mother, but in the their a/c no balance,(insufficient fund). already one month over.
now i am decide to give a notice to Sri shiva sai developer u/s 138 NI Act, can i give to notice individually or through the lawyer.
sri shiva sai developer gave a cheque to so many people, all the people have same problem.
please provide a steps, how to take action against sri shiva sai developer
Thank u
Rajeev Khanna
15 June 2012 at 16:35
Is it mandatory to get indemnity bond notrised or it may be enforced before court without getting it notrised?
Please provide relevant citation, if any
thanks in advance
supriya sumesh
15 June 2012 at 11:19
Whether a trust is competent to enter into a contract with a private limited company?the company is in illinois,U.S.A and the trust is in india.pls explain under what provisions of law it is possible?
vikas patole
14 June 2012 at 14:11
In india there are lots of multi-level marketing companies and they gives more allurements to their agents/chain members and pushes burden on agents/chain members to buy for own use and also sell policies or products in open market.innocent peoples who wants to be a rich fast comes in contact with such agents/chain members and buys such policies or products and also becomes the part of their chain to act as a agent/chain members like introducer to new one. but in real, that allurements not fulfilled by such MLM companies and reasoned in such a way "it has been postponed" or policy changed,etc. and lastly these innocent people faces a fraud by company. so my question is,
1)can such agents/chain members falls uder defination of "Consumer" by Consumer Protection Act,1986. and
2) can he complaint against such company for fraudulent commitments.
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Contract act
notice for tender was invited on 08 june 2012 from manufacturer / authorized dealer for electrical goods. The due date for opening the tender was 16 june 2012. On due date few tenderer, other than manufacturer / authorized dealer, made objection that they should also be given equal opportunity to participate in the game,though in tender document it was clearly mentioned that only manufacturer / authorized dealer can take part.
Now instead of opening the tender on due date a correction notice was published in newspapers on 18 June 2012 to accommodate those persons and new date for opening the Tender is fixed on 22 June 2012.
Now my query is that whether the above action taken by the purchasing authority is in accordance with law.