harkirat singh
11 August 2009 at 23:27
Dear All
I have joined a small pvt ltd company and filled form32 as directed by Ca of company. there after i given secured loan to that company whose authorised capital is 100000.
the loan amount is 1500000/- and all money is transfered on line to companies account.Now one of the director does't want to get me as director and want to do malpractice. sine funds are already transfered to company and to one of their fathers account.
My query is in case dispute happens on secured loan how this money to be recovered and how can other directors punished by law.
No receipt has been obtained yet, but money transfered is by on line and small amount deposited cash for which pay in slip has my pan number and name
How legally I can become strong. Secondly 200000/- I gave on interest for which promissory note is received and cheque is yet to be received.
In case they don't pay back what is legal action for both of above cases
Regards
Ami Parekh
11 August 2009 at 15:12
Dear Expert,
Can somebody please explain me the procedure of Issue of Share certificate what is the rule on payment of stamp duty on share certificate issued. what are the rates applicable of stamp duty do they differ according to states & what has to be taken in to consideration the place of Board meeting or the registered office of Company of which share are issued.
awaiting ur reply
ami
Prashant
11 August 2009 at 09:52
Suppose A Pvt Ltd holds say 50% of shares in B Pvt Ltd. Since holding of A Pvt ltd is not more than 50% it cannot become the holding company of B Pvt ltd u/s 4 of the companies act. So how can it become the holding company by having the management control because since share holding is insufficient how one can take control on the board especially when there are only 2 shareholders involved i.e. in the present case A Pvt Ltd holds 50% & say C Pvt Ltd holds 50% share capital of B Pvt Ltd then if A pvt Ltd wants to have holding status of B then how can it acquire management control.
Thanks in advance
Ramesh
10 August 2009 at 16:02
What are the benefits converting a partnership firm in to a Pvt. Ltd. company
Kindly give your opinion.
Regards,
Ramesh Mande
Ramesh
10 August 2009 at 15:55
We have to pay stamp duty when we increase authorised capital.
Do we have to pay stamp duty on the issued capital also.
Kindly give your opinion and oblige.
Regards,
Ramesh Mande
Meena
08 August 2009 at 10:23
My unit became a NPA in 1998. A decree was passed in 2003. The Bank called for an OTS settlement in 2004. I paid the upfront. Then, I could not fulfill my commitment. Again the bank called me for an OTS. in 2005. I started paying in instalments. There was one year time ,up to june 2007, I with the good intention, promised to pay before Dec 2006. I paid , but a percentage could be accomplished oly during March 2007. The bank accepted my payments. I deposited the amount ina joint account with my husband in the same bank. After getting the ratificationfrom the LHO, they transferred the amount to my company;s laon account. The Bank also gave me a No due certificate , not in a letter format but in the form of account statement. I made frequent reminders to the branch and LHO to return my documents. There was no response. Suddenly ,the recovery officer , from DRT ,wanted to attach the properties in Oct 2008. I submitted a petition to DRT, my petition was dismissed. I am perplexed. The no due statement ,according to the bank's contention , is not exact , there is a shadow balance. They have quoted from Narasimhan Committee. I am at a loss now and totally disillusioned with Indian Banking.
Adinath@Avinash Patil
08 August 2009 at 08:23
Is power of attorney is require to register in Ragistrar Office under Indian Registratio Act
Prashant
07 August 2009 at 14:50
A Pvt Ltd is newly formed company & is subsidiary of B Ltd. A Pvt Ltd is in the process of applying for tender & is required to furnish Bank Gurantee. Since it is newly formed company, its holding co. B Ltd kept FD worth Rs 50 lakh with bank & provided BG on behalfo A Pvt Ltd. BG required was Rs 50 lak so holding co kept 100% margin money in terms of FD & bank put its lien on FD.
Now bank wants counter indemnity for guarantee limit.
So whether bank is right in asking such counter indemnity once 100% margin is kept. What is the available defence against bank for forcing counter indemnity.
Under what circumstances the counter indemnity is asked by bank. Are their any RBI guidelines for such counter indemnity.
Pls advice & guide
Thanks in advance
harkirat singh
06 August 2009 at 21:05
Dear All
Iwould like to know the following
i) Documentation required to join as a business partner of 25% in a Pvt Ltd company and how become a director/chairman in this company.I already have a DIN number.
ii)Formalities &documentation to give loan to the above Pvt Ltd company
Thanks
Harkirat
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Sahres not transfered.
Dear All
I have joined a small pvt ltd company and filled form32 as directed by Ca of company. there after i given secured loan to that company whose authorised capital is 100000.
the loan amount is 1500000/- and all money is transfered on line to company's account.Now one of the director does't want to get me as director and want to do malpractice. sine funds are already transfered to company and to onedirector's father account.
My query is in case any dispute happens on secured loan how this money to be recovered and how can these directors are punished by law.
No receipt has been obtained yet, but money transfered is by on line and small amount deposited cash for which pay in slip has my pan number and name
How legally I can become strong. Secondly 1100,000/- I gave on interest for which promissory note is received and cheque is yet to be received.
In case they don't pay back what is legal action for both of above cases
Regards