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Anonymous   28 September 2011 at 00:30

Set-off and partnership

Thank you for timely responses, however please allow me to slightly add meat to the facts. In view of this I have had to repost this query. Please help and thank you in anticipation.

BK Investments and Alphabet Construction enter into a joint venture partnership to construct a dam. The joint venture opened 3 accounts at XYZ Bank. BK Investments had previous (before the partnership) facilities with XYZ Bank and had since defaulted in loan repayment.The Bank has now debited one of the joint venture accounts recover the amount owed by BK Investments.

1.Can BK Investments in its own name sue the Bank for reversal of the transaction?

2. If it can,can the bank successfully defend its action to set off?

Anonymous   27 September 2011 at 15:45

Complaint against service provider/company

Same here dear. I purchased car tape speakers of a branded co. but now the speakers have started making noise and vibration within 4 months and warranty of 1 yr.

Anonymous   27 September 2011 at 15:41

Complaint against service provider/company

As per consumer protection act, can we claim against a company or brand. e.g. AC purchased and didnot work well as per the gaurantee/waranty given.If yes what actions can be taken and what is the monetary fine.?

Anonymous   27 September 2011 at 12:57

Shops & establishments act

Hi Members,

Off lately, we have incorporated many private Limited companies.

My queries is apropos registration with shops and Establishment Act, authorities.

whether registration is required in case of companies doing no business.

and in case of companies doing business but having no employees.

pl suggest.

Regards

Anonymous   27 September 2011 at 11:29

Section 11 case law

Respected Sir/s
Please provide case law about section 11 of the companies act.
i will be oblige.

Anonymous   27 September 2011 at 00:26

Set-off and partnership

Can a bank succeed to defend a lawsuit if A and B enter into a joint venture (partnership), open accounts together at a certain bank where unknown to B, A had secured a loan which he has since defaulted. The bank has debited the venture account to the full value of the loan. in the name of the firm A and B take sue the bank or the amount of the debit.

Aston Albuquerque   26 September 2011 at 20:12

Export

We are SSI manufacturer exporter.
We export under free shipping bill. Self sealing.
HS code is 6810.
We have an order for this material but the buyer wants us to provide small wire pieces which are used for tying our products.
HR code for this wire is different. The total value of this additional material is 7% of our manufactured item.
How do we export them. Because this wire is not made by us. We are buying from open market,cutting and adding to the product.

Anonymous   26 September 2011 at 13:51

Chit fund company

Dear sir,Can a chit fund company regd.underIndian companies'act file a case for defult of chit arrears on a defaulter without board resolution to file a case by a foreman (manager)?

sweta   25 September 2011 at 15:40

Service matter

A charge sheet was given in Jan 2007 to me and after inquiry a penalty/Censure was imposed on me as on 9/10/2009. Further I have made an appeal to the appellate authority and I was exonerated from all the charges in Aug 2011. I have given a departmental interview for the promotion in 2006 and 2008 and qualified both the interviews.But due to charge sheet the letter are kept in sealed envelope Will the department give me promotion with 2006 without considering the imposition of penalty which was imposed against me by CVC approx 2 years for which I was later on exonerated in Sept 2011?

Anonymous   24 September 2011 at 18:21

Company act

section 4 defines subsidiary company, under which provisions of company act empowers a parent company to form a subsidiary company ?