Anonymous
31 January 2012 at 12:34
Ek company ne Ordinary resolution pass karke....apni authorized share capital increase karni thi.......OR pass kar liya shareholders ki meeting me.......but jab form5 file karne lage to fees jayada aayi...jo ki unka mgt afford ni kar sakta tha.........to ab kya karna hoga company ko.......OR cancel ho sakta hai kya?....or fees company afford ni kar sakti.....to ab company increase bi ni kar sakti to....OR ki kya validity rahegi?
surajp21
30 January 2012 at 20:25
Dear Sir / Madam,
My query is as follows:
Mr. A is acting as a sub-broker for a leading stock broker who manages portfolio of various clients like under PMS. In this situation, he executes various share trades in n number of shares of his client's choic or as per his recommendation. As of now his clientele is limited but he expects it to increase beyond the number where he wont act as a one man show. Hence he is planning to form a PVT ltd company along with his colleague where he will take deposits from his clients and will invest in share market in his own style and not as earlier stated. In turn, he will distribute the profit made as a dividend to his clients. If required, he will return deposit accepted to his client.
I wish to know whether is it possible to form a such company who will accept deposits and invest in shares. What kind of Acts will be applicable to start such business?
Regards,
Suraj
K.K.Ganguly
30 January 2012 at 18:34
Would the Ld. Experts kindly opine on the following:
1. A Bank had allowed a loan to a Company after mortgaging/creating a secured asset for the said loan.
2. The loan had become NPA for non payment of EMIs for a prolonged period.
3. The Bank had issued notice u/s 13(2) of SARFAESI ACT,2002 to the borrower.
4. After issuing the said notice u/s13(2) the Bank has sold the said Financial Asset/loan account to a Securitisation Company who has reconstructed the asset and rescheduled the payment terms.
5. Even after rescheduling of the payment terms the Company became defaulter in payment with the Securitisation Company.
6. Two years have passed from the date of issuing the notice u/s13(2) by the Bank.
My question is:
1) What is the remedy lying with the Securitisation Company now?
2) Shall the Securitisation Company have to issue notice u/s13(2) of SARFAESI ACT,2002 again and then issue notice u/s13(4) or it can straightway go for issuing notice u/s13(4) referring the notice issued by the Bank u/s13(2) two years back?
Thanks & Regards.
Anonymous
30 January 2012 at 17:03
As per RBI rules all banks has to pay Rs.100/- per day compensation to their customers if there is delay in refund.
First this period was 12 working days and now it is 7 working days.
Though this is a mandatory instruction from RBI, many banks avoid payment due to lack of knowledge of this rule by the customers.
RTI replies from two PSU banks from south have reviled that both banks have not made this payment to their customers in many cases and the amount involved is in many millions.
In one way this is a cheating to the customers and in other words they are not following the RBI rules.
How can I force these PSU Banks to make the avoided payment to their customers?
I am looking following problems in this process:
1.) If I complain to RBI with a proof of RTI reply they can take unlimited time and say “enquiry” is going on. They will just site-over the issue and do nothing.
2.) If I complaint to Consumer Committee of the Bank, it is their Bank and have to guard Bank interest and their report will be “We did not find any merit in the case and hence the complaint is closed” For this also they can take years as in our country we have no time limit to these problems.
3.) If I want to file a PIL the first is cost. Second is time. Since I have to use all available resources before approaching HC or SC “the enquiry is in process” will not admit the case.
4.) There is one more Bank who is changing the RTI information according thir convenience at the time of first appeal or CIC orders.
The only chance is to get a correct section from Bank Act and P&SS Act and ask RBI to revoke banking license as these Banks have bettered the principle of faith and goodwill of the trade and hence they are not competent to run banking business.
There are 28 PSU Banks and almost same number of private and co-op. banks and all must be doing this cheating. I want solution on this subject from the experts.
harvinder kumar
30 January 2012 at 16:42
Please give me solution below mentioned case study
Case Study
Sit#1
Joint-Venture (JV)- Indian Company with Foreign Company in the form of Public Company (Unlisted)
Now in the JV, there are Directors, who are Indians as well as Foreigners. MD is foreign national.
Now the JV is contemplating to induct a technical person of foreign origin (here partner foreign Country)
Please let me know,
1. Is there any approval required from any authority in India before employing that technical person?
2. Is there any approval required for giving him any salary or amount in lieu of salary?
3. Is there any cap on the salary to foreign national?
Apart from it, pleas also tell me the procedure to appoint a foreign person in the JV with the foreign company or in any Indian Company.
Sit#2
If that person, foreigner, is going to replace the existing director of foreign origin in the same JV with the foreign company after passing away 3-4 months from his induction as the simple employee (not in the Board of Directors) will make the situation different from above mentioned.
Give the detailed information in both cases if any professional friend know it .
Anonymous
30 January 2012 at 16:07
Our company would be shifting its Corporate office from New Delhi, where the registered office is located to Gurgaon.
Now my question is, do we have to apply for registeration with PF, Esic, etc.in Haryana. What are the other legal requirement we have to follow.
Thanking you in advance..
Kapil jain
30 January 2012 at 14:32
E.A.NO. 105/2009 in Ex. No:242/2008 of Delhi
high court. does this case published in any journal , if yes then please provide detail of publication
Thanks in advance
Anonymous
29 January 2012 at 22:04
My sister was a member of the Vital Wave club in Vasai (East). The club closed down in 2008 and at the time they had sent a letter of closure to all members. However they have not yet returned the security deposit my sister paid during the initial membership.
Is there a particular law that covers such cases? is there a possibility of her sending a legal notice to the club owners to pay the deposit?
Appreciate if any of you could provide your valuable advise as it has been so long since they keep avoid paying the due amount.
thank you,
Priya
AAK
29 January 2012 at 13:28
Dear Experts need your help
A Ltd is intending to lease a machine to B ltd for production of XXX material to its various customers.
A Ltd has indirect stake in C Ltd.
C Ltd is carryings its business in the same XXX material in Bihar, Delhi, UP etc
Now A ltd is intending to lease a machine to B ltd but it should not want that B Ltd should any way compete with C Ltd’s customers.
Can non competitive clause can be included in the lease agreement with B Ltd?
Is that agreement be valid. Whether it amounts to cartel under competition act?
Can any one pls suggest how to protect the interest of C Ltd by including some indirect clause?
Thak you
Regards
AAK
© 2026 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
Factories act 1948
A hotel/resort has been registered with shop & establishment act, but still the factories act 1948 would be applicable ??
A hotel having 150 employees in their roll, already registered with shop and establishment act. Whether both shop and establishment act and factories act is applicable to that.
Kindly advice.
Regards
Santos