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Anonymous   07 December 2011 at 16:53

N.i. 138

Dear Members,

I have started business with one of my friends in partenership in May-2008. We have to takeover a franchisee store, we came to mutual understanding with the existing owner of the franchisee to stay connected with the business for a trial period of Six months. We have issued a cheque of Rs. 6.5 Lakh as a security (Not mentioned on the cheque) to takeover the business from the owner of the business. In lieu of the valuation (Rs. 6.5 Lakh) of the business we agreed upon to pay the liabilities of the business i.e. Elec. Bill, Staff Exp., Rent (16000/-), Interest of the valuation of Rs. 6.5 lakh (rs. 16000/-) etc. will be paid by us in due period. We have sucessfully run the said business and added business to the existing, and also paid all the expenses of the same as per our commitments.

The shop was on rent, After 5 months the owner of the said shop denied us to continue the business and refused to let the shop to us. A dispute was arise & I have decided to discontinue the business and left the shop to my friend (Partner). And i have demanded the cheque of Rs. 6.5 Lakh from the owner of the business. but he told me that he has misplaced the cheque. The cheque was dated as of 31st October 2008. So, i have decided to stop payment of the cheque, on 14 Oct. i have stopped the payment by using my netbanking mails. But on the 21st of Oct. i have got a msg. from bank that the cheque is bounced in my account. After repeating requests the person not returned the bounced cheque to me. Then i have ignored the matter.

But in January 2009, without any notice from the complainant, i've got summons directely from KKD. Court to appear before the court. And i have to appear and got bail from the court. And the case was registered agst. in N.I.-138. He has shown in his complaint that he has lended me Rs. 6.5 Lakh in cash and i've issued the same cheque in lieu of that money in guarnatee of the two of common friends of our both, whom i don't know as of now. He has not mentioned about our business deals to the court. Since then our case is continue with appx. 12 hearings in the case. But on the most of hearings the complainant was not came in the court. But in cross examination he has accepted that we both have the business relations of material (Supplier & Seller) and the all the material and machines of the business are with him.

And can I get the benefit of stop payment of the cheque that the cheque has lost by the party and the Bank memo is showing "Payment Stopped by the Drawer'. I want you to please suggest me the future proceedings of my case.





Mr. Sanjay Kulkarni   07 December 2011 at 15:24

Shop act

Can two establishments bear the same name under shop act registration?

Anonymous   06 December 2011 at 18:28

Incorporation of company!!

How to incorporate/register a company in Bangladesh? What are the required documents and formalities for its registration/incorporation?

Rohit Makkar   06 December 2011 at 15:11

Corporation vs. company

Sir,
What is the difference between a "Corporation" and a "Company", legally?

Anonymous   06 December 2011 at 14:28

Applicability of legal metrology act

The Legal Metrology Act 2009 has come into force w.e.f. 1.4.2011 (in place of Standards of Weights & Measures Act 1986 and Standards of Weights & Measures Enforcement Act 1986 which have since been repealed).

Under the new Act following action is to be taken immediately by manufacturers / packers:
- Manufacturers, packers & importers have to get themselves registered under Rule 27 of Legal Metrology (Packaged Commodities) Rules 2011 on payment of fee of Rs.500 by 30.6.2011.

My query is whether manufacturers of products in bulk are also required to register in view of Rule 3 (a) & (b) Chapter II?

Member (Account Deleted)   05 December 2011 at 17:40

Builders association registration use

Hi,

I'm a civil Engineer, I want to know that , what is a use of registering in Builders association India, How to do that,Because I'm running sole proprietorship firm in trichy

Anonymous   05 December 2011 at 03:29

Producer companies

Can Government with 51% contribution form a producer company with management by the private sector and yet avoid being a Government Company.

ASHWANI GAGNEJA   04 December 2011 at 20:54

Can a charitable trust de-register

Sirs,

Can a Charitable Trust registered with both Sub Registrar & Registrar of Firms & Societies get de-regiter with Registrar of Societies & still avail the Income Tax exemtion.

Anonymous   04 December 2011 at 11:33

Reply experts

Hi,
can anybody help me for my problem

i have join new company in april 2011 and there is no pf & esic deduction but on aug 2011 they started deducting the ESIC but my problem is Now they tell me we will deduct the esic from april 2011

is this right or wrong.

Anonymous   03 December 2011 at 17:04

Reply experts

Please guide me can private limited compay establised to Investment in other private limited group companies. All other companies share are purchased by newly formed private company and in newly firm private company funded by directors of newly firm company.
Also guide me for tax implication for the same.
Regards
vinod
mumbai