Anonymous
07 September 2010 at 15:37
I HAVE TAKEN SOME COMMERCIAL LOAN FROM THE BANK FOR MY BUSSINESS. I HAVE SIGNED THE LOAN AGREEMENT PAPERS.
IN IT IS MENTION ALL DISPUTED WILL BE REFERRED TO THE ARBITRATION
IT IS NECESSARY FOR ME TO FIRST REFER THE ARBITRATOR
AND THEN PROCEED TO CIVIL COURT
CAN I DIRECTLY PROCEED TO CIVIL COURT?
Anonymous
06 September 2010 at 18:18
Who are they ?
What legal powers they have ?
Who appoint them and why ?
What if,we disobey them ?
What benefit we laymen can get by appointing them ?
I have a very vague idea about them,please clarify.
Y V Vishweshwar Rao
06 September 2010 at 06:55
One of my Client - Hospital /Clinic has obtained a Compact Insurance Policy .The X- Ray Unit and other equipment are insured.
Valuation of loss - Insurance Condition in the policy in respect of the X- Ray Tube - shall be counted with reference to number of exposures - not with reference to age of the unit / tube .
The 40,000 Tube exposure will be treated as 100 % depreciation - in fact the party X-Ray Tube has only 8000 exposures and the value to be calculated for 100 % for replacement of tube & etc . -- The party incurred Rs;- 50,000/- for Tube and other required allied services to the Unit .The party claimed the same amount 50,000-00 from the Insurance company - but the Insurance Co. paid only 5,000-00 stating that the unit is of old and 90 % depreciation is calculated .
I request the learned friends to suggest the course of action to my client to get the 100 % replacement amount from the Insurance company.
Nu.Delhi.Law.Fora.
05 September 2010 at 17:18
Hi All,
A client of ours is a technocrat and investor by himself, wishes to be CMD/MD forever (preferably) and wishes to have a fixed % of profit always and also wishes to utilise his ESOP as & when he thinks fit. He also wishes to appoint some nominee when he is not present (read after his quits/demise). In essence, he wishes to control the Co. for all days to come.
Now Co. i.e. ABC Ltd. has received Cft of Incorporation and it has created a a WOS i.e. 100% subsidiary of an US based Co. wherein ABC Ltd. needs to transfer funds. The total number of shares of the US subsidiary company is 1000 shares @ 1$ per share. In which, 900 shares will be allotted to M/s ABC Ltd. and balance 100 shares will be allotted to our Client with an understanding that our Client will transfer back these shares (100 shares in his personal name) at the same face value of 1 $ / per share at the time of his resignation from the present post (CMD of M/s ABC Ltd.). On his resignation the 100 share will be transferred to new Chairman nd Managing Director.
The respective earnings of the 100 shares held by our Client individually in the US Company shall be treated as the earnings of M/s ABC Ltd. A Shareholders agreement need also to be executed.
Share-holding pattern is that he holds 30% in the shape of following: 30%:10%:15%:15%:30%:Nil total being six members.
our Client is to complete his share of investment in proportion to his / wife's shareholding in the company immediately upon the signing of the share holder’s agreement.
I understand its little long facts, yet I would appreciate if there is any considered opinion.
Thanks in anticipation.
Rabin Majumder
Advocate & Attorney
For Nu.Delhi.Law.Fora
New Delhi
nudelhilawfora@gmail.com
Rahul
05 September 2010 at 13:40
Pls tell full procedure of District consumer Forum filing complaint to decision under consumer protection Act 1986
sachin sinha
04 September 2010 at 11:27
Dear Professional collegues I want to know that if a company has not filed its annual accounts and annual return for last 2 years, and is not doing business since its incorporation, then whether it can go for stike off under section 560 of the act without filing the annual accounts and returns for the pending two years.
Also note that the company has received a notice from the ROC for filing its annual accounts.
Waiting for prompt response.
Anonymous
03 September 2010 at 21:27
Sir,
I was a senior manager in Punjab National Bank and removed from bank service in 2007. I have filed a writ petition against my removal at High Court, Allahabad and the matter is still pending. Bank has not paid me any of my dues. During service, I availed Staff Housing Loan, Clean Overdraft facility and demand loan against shares. Without paying my dues, the bank has issued notice to me u/s 13(2) of SARFAESI.My dues will be almost equal to the bank dues. What are the remedies available to me?
Thanks.
Mahesh Kakade
03 September 2010 at 18:58
Can a 100% holding compnay employee sign the document of the subsidary company i.e. Invoice, Letters exchanges between company with vendor or customer
nagarajan
02 September 2010 at 15:55
Sir,
What are the rights of the auction purchasers (participants) who had emerged as a successful bidder in the auction process conducted by the bankers and deposited 25% of the bid amount, and after 13 to 14 days the banks rejects that the bid received is lower and the sale can not be cnfmed in favour of him and returns the money to him. What to do. in the auction conducted more than 20 people participated and the win amount is Rs.500/- more than the reserve price. What can be done. The sale is done by a public sector bank under Sarfesai Act and what to do now
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RETIRING PARTER'S RELINQUISH DEEP
Dear Sir
A partner (Mother)has retired from the partnership firm & new partner(Son) has joined the partnership firm. The continuing parter is also the family member.Retiring parter had 55% of profit ratio in the business.
Without releasing the rights by the mother, can the firm can give guarantee to other company for any borrowings. Or can the firm lease out the primises which were in the name of the firm while setting up he firm. If not, whether this relinquish deed is to be regestered ?
Please explain ? And give some detailed reference??