Vartika
13 July 2011 at 14:01
Dear reader ,
My father has been an employee of a state government company for over the past 25 years . Recently , he was suspended because of him not performing a proper enquiry about the financial status of another company with whom business was being carried out by his company .
Under the management of the previous MD , on the recommendation of a Business Advisor , the company entered into contract with another company [say ABC ] . Now my father was recently allotted the duty of handling this affair of export import matter of which he has had no prior experience .He and the GM were assigned the responsibility of signing the cheques to ABC as per contract . Prior approval was taken by the previous MD [by the GM ] orally . When asked by the father about a written approval , he wasn't allowed to even communicate . Hence he had to cooperate with the higher officials and sign the cheques . Also , the MD , GM and Special Officer were involved in talks about this contract and were again unapproachable.
Now , there has been a huge loss of crores to the company since the consignment was not delivered and the cheque received by ABC bounced back . Hence my father has been suspended on the ground that he and his GM have failed in their duty to thoroughly investigate into the financial status and bank accounts of the company . Although , the financial status was enquired into by the GM and there are papers that were collected which denote the financial transactions of ABC with other companies .
My father has had a very good record with the company so far , but unfortunately he has to live this experience now . Further he shall be retiring in less than two years time . I therefore request you to kindly provide me with possible solutions to resolve this problem .
Also kindly tell me what are the possible liabilities of my father . There is an enquiry board that shall soon be formed by the company before whom my father is answerable . Also in the worst case scenario ,what can happen to my father as an employee ?
Please answer to all of my queries or any of which you do know. I appreciate your time and help very much. Thank you.
PLEASE HELP. :(
Anonymous
10 July 2011 at 20:55
What is the best way to close the credit card with bank so that good credit repayment history does not become bad for future purposes.
Geeta Wadhwa
09 July 2011 at 11:44
Hello,
Can any provide me the step wise procedure along with its format like board resolution and other formats for closure of stpi.
Can also anyone also help me about the expected expenses for the same.
Thanks & Regards
jach000019
08 July 2011 at 18:07
IN INDIA CAN AN INDIVIDUAL PERSON CAN OPEN THE ESCROW A/C TO SOLVE SOME FAMILY SETTLEMENT ISSUE WHICH INVOLVES THE CONSIDERATION AND PLEASE LET ME KNOW THE PROCEDURE AND DOCUMENTS REQUIRED TO OPEN THIS A/C.
sajjala
08 July 2011 at 12:50
Dear All,
I need a opinion with regard to Service Agreement -
Company XYZ Pv Ltd has appointed a Diagnostic Center (Service Provider) to provide its services to its clients for blood test and certain other medical test.
Company has entered in to a agreement even with client for facilitating such services on certain terms and conditions.
Now this service provider gave a wrong report to that client.
Query) who is liable and to what extent?
Company XYZ P Ltd is liable to the client or the service provider is liable to the client ?
SHAKTHIVEL
08 July 2011 at 10:30
PLEASE LET US KNOW WHETHER DRT HAS INHERINT POWERS TO STOP THE CREDITOR BANK FROM PROCEEDING AGAINST DEFAULTER DEBTOR`S MOVABLES (MACHINERIES, FURNITURES BOOK DEBTS ETC).
WHETHER DRT HAS POWERS TO GRANT INJUNCTION STAYING THE CREDITOR BANK FROM TAKING INTO ITS POSSESSION OF MOVABLES OF DEFAULTED DEBTOR WITHOUT COURT DIRECTIONS / PROCEEDINGS.
WHAT IS THE PROCEDURE TO BE ADOPTED THROUGH DRT TO RESTRAIN THE CREDITOR BANK FROM PROCEEDING AGAINST AN NPA ACCOUNT.
Anonymous
07 July 2011 at 22:59
I am running my business and I want to all of idea about business, all of rule like sell tax and income tax etc in LLb its also define in Trades like engineering
Vivekanand A
07 July 2011 at 21:37
Dear Experts,
Need help to confirm whether this is Legal or Not
I am working in a Private Limited firm as a manager, I have started a Pvt Ltd firm myself along with couple of more people and I am one of the director in my firm, I wanted to check on the legal implication whether to continue with the current employer for some more time or but before I continue here can some one let me know the legal implications involved in this regards. If this is not legal then I can take a clear decision for my future...
Regards,
Vivek
Amit Surase
07 July 2011 at 12:10
Dear All,
Can anybody provide me a business plan for incorporating new NBFC. company has to submit same to RBI.
© 2026 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
De-merger/SPin off
A Private Ltd Company spin off one of the Business unit by forming another private ltd company. The Point should be noted is there are only two shareholders and they itself Directors. In Proposed new resulting company also the Shareholders and Directors are same as De-merged company.
Query:
1. Since it is Private Ltd Company Whether the company has to get approval for this De-merger from court?
2. Whether the company has to convened meeting for Creditors?
Please clarify!!