Anonymous
20 May 2011 at 11:47
'A' company is ready to invest 100% for one project for power generation & B company is ready to facillitate them for local commitments. Now A & B jointly wants to enter into an agreement. As the B company is not at all investing but want some profit, can they form an Joint Venture Company having 0% stake of B in the JVC and a separate share holders agreement to share profits? or which mode is the best way?
Anonymous
20 May 2011 at 07:38
Hi, I am NRI and was cheated by a old friend in India. A hotel business was started under a private limited company in 2005 with our own funds, funds from our family and friends, and bank term loan. Since I live in USA, my mother-in-law was appointed as one of the directors. The other director was this bad friend of mine. This guy did not invest any money, nor has financial resources. But he was given 40% share in the company under sweat equity. Even for the bank loan we pledged our property as security. But this old bad friend has been looking after the business and has been not showing the accounts and sharing profits. Literally he occupied the hotel business threating us with false cases. The case is pending in CLB. But this is taking long time. Is there any other legal mechanism to release our security with the bank and recover our investment, if not takeover of the business?
Thanks in advance!!
Anonymous
20 May 2011 at 01:43
Respected Learned Members,
'A' and 'B' are two rival cable operators in same locality.
Monthly subscription fee for cable service fixed by the District Administration is Rs 210/- per month.
'A' has more than thousand subscribers whereas, 'B' has merely 100 plus.
Currently 'A' charges Rs 200/- monthly.
In order to attract/seize consumers from 'A', 'B' has reduced its fee from 200/- to 150/- (accruing loss)which 'A' can not afford.
Under this circumstance what 'A' can do to restrict 'B' from such illegal act under Monopoly & Restrictive Trade Practice Act/economic offences or any other relevant provision??? Kindly Help, it's urgent.
Gopal
19 May 2011 at 23:32
Dear Sir,
Recently we have came up with a plan for mlm business using insurance as a product. logically the plan is secure as company is not collecting any money from the market, but the insurance amount is transfered by the means of draft directly form the members to the insuarance company. the source of income of company is the commision for the insurance company. Further the income plan has been tested for input and output (financially) and made secure that company will not be in loss till next 1 lakh joinings.
The problem is we all the partners are expert from diverse fields but no one in experience in legal matters for a company, that why we need some sugessions about the legal matters in the formation of company and its activities.
Thanks
Priyamvada Rasal
19 May 2011 at 14:48
The shares are optionally fully convertble
preference shares....
Priyamvada Rasal
19 May 2011 at 14:45
Hi...
Kindly let me know what is the procedure to be followed for the RBI approval in case of Redemption of Preference shares??Is there any ECB involved if the company is a foreign company??
Regards,
Priyamvada
Anonymous
18 May 2011 at 23:26
how cn i transfer a immovable property in registrar office which comes to me by dissolution of the firm as retiring partner.
i want to change the title name of the property in tehsil or registrar office.
Anonymous
18 May 2011 at 20:59
can a partner ship firm give gift to a person
if partners are in blood relation
Anonymous
18 May 2011 at 20:36
Summary -:
1.The Non Banking Financial Company(NBFC/HFC) issued a notice under SARFAESI_Clause13(4) with total demand "(LOAN CLOSURE)".
2.Borrower approched DRT under section 17(1) for interim relief.
3.DRT ordered "Stay On Possession" while directing the borrower to deposit "fixed amount" with in 30 days against LOAN CLOSURE.
4.Borrower complied with the Order before 30 days and the matter is pending/SUBJUDICE before DRT.
5.After 5 to 6 months of the Order Compliance Creditor(NBFC/HFC) is demanding EMI/dues using various means (phone/written/goons/recovery agents).
6.Also the NBFC deliberately bounced the "Security CHQs" for the above EMI amount and threatening use Sec 138 NI act.
Question -:
1.Can the Creditor(NBFC/HFC) demand EMI/dues from borrower when matter is pending before DRT ?
2.Can the NBFC deliberately bounce the "Security CHQs" for the above EMI amount without borrower knowledge ?
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