Anil Kr Garg
06 January 2011 at 10:05
Kindly advise whether the law of limiation (3 yrs) also applies to Govt dues. I have 2 specific issues:-
(1) Municipal Corpn issues notice for property tax from beginning (12 yrs) for my factory land. I'd paid taxes till 2 yrs ago but 've misplaced file as factory is closed for 2 yrs and there is no staff. They want me to prove that taxes were paid or pay all taxes from allotment of land 12 yrs ago. If limitation is applicable, they cannot demand more than 3 yrs taxes. Pls advise.
(2) When Industrial land was allotted, my business was an SSI unit and hence, Premium applicable to SSI units was charged. 10 yrs ago, we became medium scale and cancelled SSI registration. When I am selling factory land, DIC today demands difference of land premium between SSI and medium scale applicable in year 2000 today. They never wrote to me on the subject till today. If limitation is applicable, they cannot demand the amount now. Pls advise.
Thanking you,
Anonymous
06 January 2011 at 00:27
Mr Avijit Dutta has taken a loan from Bank, of 3.8 lakhs on March-2007 to purchase a car, for 5 years term. EMI- Rs.8800. He has paid 1.2 approx upto 2008/July. After that, he had not paid anything. Now he is in a position to pay approx 50,000 or 1 lakh.
1) Is it possible to pay the interest upto date, and again continue the loan?
2) In that case, will the Bank can take away the car ?
3) What is the best solution available to get some time to repay the loan ?
nishad
05 January 2011 at 22:01
Dear Experts,
Can anyone help me get a copy of the assignment agreement used for importing gold to india.I mean the ones used by Banks in India
Regards,
Nishad Davis
Anonymous
05 January 2011 at 15:39
Hi!
What does " Dismissed as Non Maintainable " means?
Anonymous
05 January 2011 at 13:51
dear sir,
I was partner in the firm which was created in jan 2007 with registerd partnership deed,business was of distribution fmcg products we were 3 partners.In Nov 2008 i was not well an my other partner also was not interested in carrying the business so one of the partners added new partners replacing us.Now our capital in the firm was there on 30-11-2008 which new partners have mentioned in the deed that they will pay in six months.But after marathon requests n follow up they are coming with new stories every time saying there is no account maintained and we do not have any data.The said Firm has been shut down after a year of operation with new set of partners.The continuing partner and new admitted partners have join together and are not showing any interest in giving our money.They are very reputed and powerful persons having good influence in the town.The accounts have not been made and without that also they are saying there was a loss.I am really confused and my whole life stage is on it,kindly help me out please.The place of incident was SURAT.
Anonymous
04 January 2011 at 13:36
I would like to know whether stamp paper purchased in maharashtra is valid in hyderabad.
The supplier resides in maharashtra, buyer in hyderabad. an agreement made for supply of equipment.
If any obligation raised it should be settled in hyderabad courts.
Such obligation, Is it valid on maharashtra stamp paper.
Anonymous
04 January 2011 at 12:33
First querry : Is the delayed payment clause in the MSME ACT 2006 is applicable to state or Central Goverment units who is a buyer of materials from an ssi Unit?
Second querry: If yes, as you know the central Govt is the creator of this act for welfare of ssi and the creator himself can be penalised if payment exceeds 45 days due to administration delay in clearing the bills?
Third querry: The contract/Purchase order is closed by settling all payments( including the delayed ones) in the year 2004 itself. The ssi unit in the year 2006 (not making any correspondance with buyer after closure of contract) is applying for interest for the payments beyond 45 days through msme council. Is that action of the ssi unit is correct? All the Payment dues are settled in 2004 itself. Any remedy for buyer being a government undertaking unit in this case to avoid the interest claim of ssi units as the contract is closed already and communicated to the supplier in 2004 itself.
CA Manmohan
03 January 2011 at 19:25
XYZ Co. Limited. borrowed a sum of Rs.20 Lakh from a bank on the mortgage of entire assets of the companyand on execution of personal guarantee by all itd directors, who stood as surities for the loan. after one year, the company went into liquidation. for paying off bank loan, on passing a board resolution, the directors advanced money to the company to discharged the liability toward the bank loan. however no action for satisfaction of charge against the property of the company with the ROC was taken. directors claimed that they were subrogated to the position of mortganee bank on paying off the debt and thus wanted to claim money in priority to others. PLEASE DECIDE WITH CASE LAW IF ANY.
YOGESHWAR.
02 January 2011 at 17:09
What will be all told expanses for formation of a pvt ltd co with say a capital of Rs one lac at Mumbai.
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coprative banks fAULTY LOAN ?
if "X" is co-oprative Bank
and meanwhile bank grated a Salary Loan of Rs 200000/- To Person "A" who is temporary working with Bank with agreement of 6 month on salary of 2000/ per month .Without taking any Surety. The amount of Loan Cashed By Third person but "A" has not objection at that time and deposited installments Later on "A" was permanent in that bank.
Later on after laps of 2 year Bank taken surety against that loan what is legality.and now "A" is suspended by the bank illegally matter is pending before inquiry officer
Can There is any Remedy against the Bank in Reserve Bank OR OTHER COURT ?
I HAVE ALL DOCUMENTS FOR EVIDENCE ALONG WITH THAT PERSON
I heard Bank can not do same Because It is Violation of Guidelines Issued By Reserve Bank
PLEASE SUGGEST A REMEDY