Shelley Agrwal
17 May 2011 at 12:30
It is pretty clear from Indian Partnership Act that a Individual has to be a partner to form a partnership firm and if one or more companies has are willing then there has to be provisions for the same in the MOA & AOA of the company and MOU should be executed..Now my question is are the above mentioned provisions also applicable in LLP Act as well should partners be Individuals in Limited Liabilty Partnership as well???? or there are provisions kindly reply mentioning the applicable provisions
Anonymous
16 May 2011 at 16:45
Dear Sir,
We have a specific situvation wherein a bank has sanctioned a loan to our company in which our partner was already a defaulter. The specific Partner had managed to keep this a secret with us about the default and managed to convince us in accquiring a loan for expansion of our current business. This particular partner was in good terms with the bank top officials and the loan of .3CR was scantioned.After sanctioning the loan our Partner fradulently managed to transfer the scantion amount to his personal company acount and settled his personal outstanding with the Bank. the bank is a co operative bank in question.
what our question is ..
1) Is it right for a bank to scantion a loan to a company with the partner who is already a defaulter ??
2) Is it possible to get some investigating agency like the EOW etc to do a complete investigation and bring the culprits to the book ??
Anonymous
16 May 2011 at 14:26
I want to purchase a premises of which Rent Reciept is in name of Pvt Ltd. Comany.
in view of that i am taking over the company by purchsaseing the shares of compnay in my name. Rent receipt shall be contiune in the name of original name only.
in future, can Landlord sue that there is a trasfer of shares violate the provision of tenancy laws and can file eviction suit against purchaser.
M.RAMESH.NAIK
15 May 2011 at 13:50
WHEN SALE OF IMMOVABLE PROPERTY TAKES BY PUBLIC AUCTION BY OFFICIAL LIQUIDATOR APPOINTED BY HIGH COURT ,AND A BIDDER PAYS THE AMOUNT CAN THE PROPERTY BE REGISTERED TO A NOMINEE(THIRD PARTY) OF BIDDER AND CAN THE NOMINEE PAY FOR STAMP DUTY FOR SUCH REGISTRATION.IS THIS NOT A VIOLATION OF PROCEEDURES UNDER STAMP ACT, COMPANY ACT AND INCOME TAX ACT. KINDLY INFORM .
Anonymous
14 May 2011 at 17:28
I purchased shares in one Public Ltd.company in 2005. The company was amalgamated with one Pvt.Ltd.Company with approval of scheme by High Courtin 2006.I was not informed about amalgamation nor offered shares in new company nor any compensation.Where do I lodge the complaint?
Anonymous
13 May 2011 at 13:13
Dear sir/madam,
i have registered a partnership company firm on June 2009 with roc in Hyderabad.the deed have not register still now .we got the certificate.we anre not operated any business on that company still now .
1.i need to pay any tax on that ?
2.how to make deed register with new partners ?
3. is it possible now to operate that company ?
4.is it possible to change name ?
5.if i change the company name and t turned in to pvt ltd company what i get the date of register of that company (is it june 2009 only ?)or incorporation date
Member (Account Deleted)
13 May 2011 at 13:06
Dear Experts,
Kindly decide whether following to be called as Sister Concern.
Information :
Company ABC has following four Directors say A, B , C & D. Among Whom B is the MD of the company.
B is the Son of A.
Partnership firm PQR has two partner A & B [of ABC Company]
Now Partner firm wishes to introduce two new Partners and also wishes to get Bank CC loan.
Whereas Company ABC will be supplier of PQR company for the time being.
Queries :
[1] - If Director B [MD of ABC company remains the partner of PQR company, whether ABC and PQR will be considered Sister Concern?
[2] If B discontinues being Partner but father of his A is the partner of PQR, whether ABC and PQR will be considered as Sister Concern?
Pls guide.
Regards,
Rita
Anonymous
13 May 2011 at 11:06
I have been instrumental in gaining a distribution and lately a lucrative repacking agreement for a US based company for their products in India. I hold40% in a pvt limited company formed for this exclusive purpose. When I proposed that I should be paid a salary and sweat equity as 100% of the idea and work is being done by me-the 60% shareholders refused. At this juncture I offered to sell my stake to them about 45 days ago but they have not responded.Moreover though I was prepared to invest to get 60% in the begining, I was denied that as they said 20% was being held in benami for a gentleman who actually helped us get the deal with the US company but which was denied by this person when I contact him to resolve this issue. As these lies have made me apprehensive about their intentions I do not wish to continue as a shareholder. What are my options? Winding up petition? Pre Litigation Complaint? I am prepared to lose my share of the investment but I do not want to continue as a director or shareholder. Any advice will be deeply appreciated.
Bhushan K
13 May 2011 at 10:23
Dear All,
I have a query as follows:
There is an association of trade in India to which all the entities doing that trade are members. As per the notification of Government, the Association is authorised and is the centre point for registration of distributors for sale and marketing of the products. No one can distribute the products unless registered with the Association (as per government mandate). The Association charges registration fees and renewal fees (every three years) to distributors for such services.
The fees so charges varies from legal status of distributors.
e.g. Individual - 10000
Partnership - 20000
Senior citizen - 5000
pvt. ltd companies - 1,00,000
public limited companies - 10,00,000
etc.
whether charging such differential fees based on the legal status of distributors is in violation of sec 3 or 4 of Competitation Act ? Whether it limits or controls the competition ? more particularly in case of pvt. ltd and public limited companies, is it limiting competition ?
Please share your valued opinion.
Thanks in advance.
B K G
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Sick industrial company
A division of Company X was transferred to Company Y by way of slump sale on 01.01.2011. Company Y was registered during the year 2003. There was no activities in the Company Y from the date of registration to 31.10.2010. For the year ended 31.03.2011, company Y incurred a cash loss which exceeds its net worth. Is it a sick industrial company as per SICA?