Anonymous
04 October 2010 at 17:00
Following are the situation:
1. Pvt Ltd company with 3 directors.
2. My father( MD - 50% share) and my mother(director - 20% share ) of that company.
3. Third director(30% share) was an outsider.
4. This company was running in my home premises and as a tenant ( premises was not in company's name)
5. The company has a cash credit loan of few lakh rupees having personal guarantee of the directors.
6. After my parents death, company(which was making huge loss) operation shut down totally.
7. Loan accout is in NPA state. Company assets( FD, machineries ) are liquidated.
8. No one from my family(including me) is part of this company and I am by profession in service of different pvt sector company as I didn't wanted to be involved in the business.
9. I am the only son/successor of my parent.
Now my Questions are as follows:
1. I have to move out of India for my service for atleast 20 years. Will there be any problem?
2. I want to sell out/ rent this entire property. So will be any problem?
3. How much is the liability of that existing 3rd director(He had 30% share)?
4. Before moving out of India, within next couple of months, Do I have to settle anything(I don't want to take any headache of this closed business as I am not part of this business)?
Please suggest...
Anonymous
04 October 2010 at 16:57
Following are the situation:
1. Pvt Ltd company with 3 directors.
2. My father( MD - 50% share) and my mother(director - 20% share ) of that company.
3. Third director(30% share) was an outsider.
4. This company was running in my home premises and as a tenant ( premises was not in company's name)
5. The company has a cash credit loan of few lakh rupees having personal guarantee of the directors.
6. After my parents death, company(which was making huge loss) operation shut down totally.
7. Loan accout is in NPA state. Company assets( FD, machineries ) are liquidated.
8. No one from my family(including me) is part of this company and I am by profession in service of different pvt sector company as I didn't wanted to be involved in the business.
9. I am the only son/successor of my parent.
Now my Questions are as follows:
1. I have to move out of India for my service for atleast 20 years. Will there be any problem?
2. I want to sell out/ rent this entire property. So will be any problem?
3. How much is the liability of that existing 3rd director(He had 30% share)?
4. Before moving out of India, within next couple of months, Do I have to settle anything(I don't want to take any headache of this closed business as I am not part of this business)?
Please suggest...
Basavaraj
04 October 2010 at 12:51
Dear Members
Request all members to share your expertise on my query.
1. What are the general difference between agreement and contract (except as mentioned in the Contract Act)?
RAJESH AGRAWAL
04 October 2010 at 00:53
Dear Sir,
I am franchisee of mumbai base apparel company .I am facing so many problem in this company regarding goods and payment..As per agreement company told me that he will give 61000/- per month as minimum expense and 6% commission on goods sale. but company has refuse to give me any expenses and commission and also refuse to return my 700000/- rs security deposit .same case with all another 150 franchisee of this company.i have written agreement with company.So please suggest and advice me fight against company.
thanks
rajesh agrawal
ambikapur
chhattisgarh
mob-9893141941
Anonymous
03 October 2010 at 23:37
I am the scohlar of acharya nagarjuna university in guntur town of andhra pradesh Iam doing my research work in the field at securities law on the subject is
"INSIDER TRADING" can you help for getting material inthis subject.
baswanth mohan paruchuri
03 October 2010 at 22:00
what is the importance of contract in commercial transactions?how many types of contracts are there?
ch prasad rao
03 October 2010 at 20:31
which law is modified to change the interest rate calculation of savings bank account on daily basis?
under which law base rate implemented
Ajay
03 October 2010 at 12:22
i want to know when a account become NPA.i was enjoying working capital limit with bank and paying interest within stipulated norm.Bank ask us to reduce the limit and we also agree and made and agreement to reduce Rs.80000per month.All of sudden recesion start on 2008 september,i requested bank to defer my reduction in limit for 6month as i could not pay.But did not agree to my request.After 4 month they classified my account as NPA.Can bank do it for reducing limit,where as exisitng loan interest was giving within normal period.
further after classyfying our account NPA on 29th December they took interest also from us,they took instalment also in december,february,march also.under above circumstances can we challenge in court that our account is not NPA
Ajay
03 October 2010 at 09:05
dear sir
we have file objection to notice but not objected legality of notice,we file the case in DRT court also but we simply refused that we have not recieved the notice under section 13(2).Now whether notice under section 13(2) is valid or not,i want to know when bank has not ask only remaining balance amount,bank demanded full loan sanction amount,they did not reduce principle paid by us,further they did not give details of account,neither they mention about property mortage also,in 13(3),it is mention that all these condition to be fullfil.Plz guide can we challenge notice legality
© 2026 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
Stock exchange
what exactly "market intermediaries" means and what is the role they play in capital market transactions?