ATI
14 March 2012 at 14:50
Hi Sir,
I had issued a contract to a seller in India to ship the consignment to a buyer in New York. I were acted as a trade intermediary in the contract. The seller accepted the contract and signed under Sellers column in contract, and I had signed under my company name. Now the buyer refused to accept the goods. The seller told me that he will hold me responsible for the losses incurred to him. I had also mentioned in the contract that Our company will not be resposible for any losses incurred to the buyer/seller as a consequence to this contract. Also we had mentioned the arbitration area as NEW YORK. Clause as : Any disputes will be settled in New york under arbitration laws. Please let me know the legal side of this.
Thanks in advance..
GLEN FERNANDES
13 March 2012 at 21:34
Dear sir, I am Mr. Glen, Age:36,from mumbai.In Jan 2010 I had made a agreement for 3 years with Mr. Arif a known person who is a professor by nature. He required to start a Tutorials and I paid him Rs 6,00,000/ (by cheque) for the same on condition that on a yearly basis he will give me 50 percent of the principle amount i.e. Rs 3,00,000/ yearly irrespective of his profits or even if it is shut down. And if he is unable to pay within the due date , then 24 percent of interest per annumn will also be applicable to him. Till date he is supposed to give me Rs 11,32,500 /(including the principle).And he has paid me only 2,00,000.(Rs 1,50,00 by cash and 50,000 by cheque).Along with the agreement he had given me 9 cheques with post dated and 50 percent yearly amount till 2013 and one additional blank cheque. Now he is harassing me and reluctant to pay me anything. He is saying I don’t have money even though his classes are running well. He says that I will give only your principle amount of Rs 6,00,000, for which I doubt he will give. .Even If I put the cheques and file a bounced complaint case, along with memo of bank to JMFC U/s-138 of NI Act , will I get my entire money with interest along with the principle. What is the process for filing a complaint?Approx How many days it will take for the hole process? After the end of 3 yrs will the agreement be valid ? Sir,I am in deep trouble, since it was my harden money which I had given to him. Please guide me with all legal aspects, what should I do.
Thanking you
Bhavik
13 March 2012 at 17:58
Hi Experts
Can anyone provide me the following resolutions:
1. Purchase of Property
2. Unsecured Loan from Directors
rajesh
13 March 2012 at 10:11
Kindly suggest if a listed company can file a De-merger application in the company court if there are civil suits pending in the court to the tune of a CR,wonder how court can allow such companies please comment
Amit Rajankar
12 March 2012 at 11:52
Dear Experts
I want to open nursery, KG school, I have get registered society for the same. But I need further guidence in this regards.
Q.1.From where I have to got permission to open the school?
Q.2. Any other process to follow.
Please guide me.
Regards
Amit.
kalyanasundaram m
10 March 2012 at 20:57
Sir
We have paid Rs 16.2 lakhs (90% of total)in December 2011 towards the delivery of Lift equipment. The company had promised to deliver the machinery by 15 Feb 2012 and complete the installation by March 2 week but they are yet to deliver the machine. We have paid the advance by availing bank loan at an interest of 14% pa.What are the remedies available to us for early delivery of the machinery and for the monetary loss because of the delay.
kalyan
amal das
09 March 2012 at 23:46
I am a govt employee. I have posted an advertisement for sale of my landed propoerty in one of the websites. A person basically a moroccoan presently living in USA came in contact with me and wishes to invest a huge amount in business and wants to settle down in our country. For which he needs my help. I need to know the rules for such cases. Can he buy any property in India or start any business?
salman khan
09 March 2012 at 13:05
i would like to know that whether one advocate can set their own office or business for the personal documentation work nearby another Advocate office in his surrounding area and there is any terms and condition that office must be far or away from 100 meter or kilometer from another office of Advocate as per ADVOCATE ACT, 1960. OR any such kind of law regarding in this matter
sasankajyoti sharma
09 March 2012 at 10:00
First of all happy holi and International Woman's Day to all.
My query - A man purchased a Maruti Car from a dealer on Bank Finance and the Bank gave the loan to him after fulfillment of the requisite norms for the Loan. But during the course of time the man was unable to repay his loan installments and his car was pulled and taken back by the Bank authorities and the Bank authorities later have sold the car through an auction. The auction of the car was not even informed to the man.
The auction value of the car was not sufficient to complete the installment due against the car and to mitigate the loss and recovery of the balance money the Bank authorities have opted for an Arbitration Proceeding against the man. The man did not appear before the Arbitration Proceedings and the said Proceeding has passed an Order Expertee for payment of the balance amount of money remaining un-recovered by the Bnak after the aforesaid auction sale of the said car. The man is regularly asked to pay the money as passed by the aforesaid order and he is threatened of dire consequences if he fails to pay the same.
Considering the present income conditions the man is unable to repay the money aforesaid.
Now, what is the option left to the man? Can there any suit be instituted against the man by the Bank authorities?
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Banking
Please explain if a term deposit a/c with the survivorship clause mandated by 'anyone or survivor' may be paid before maturity of the instrument if 1st a/c holder is deceased among three holders.The question is whether the survivor clause is only applicable during the tenure of the deposit or after maturity.If the fdr in question may be paid to the surving depositors without asking for legal heirs of one of the deceased.
Aniruddha Dutta --manager of a commercial bank.