Heaven 2011
21 July 2008 at 17:59
Dear All,
Kindly advise me whether a pvt. ltd. company can grant loans or advances to its shareholders though the company concerned has not booked any profit? Does Companies Act or any other law for the time being in force prohibits any such transaction?
Regards
Adv. Sanjaykumar Sharma
20 July 2008 at 23:17
Please advice me with ciation as regards to forfeiture of Earnest Money Deposited while submitting tender for contract work with deparment. Deparment failed to communciate acceptance of tender within validity period as prescribed in Notice inviting tenders.
RAM DEO KAKRA
20 July 2008 at 16:02
one person through court purchased bifr company and issued postdated cheques at the instruction ofearliar management of bifr co.cheques where issued on account of pressing creditors.further as per agreement earliar management aggred to clear earliar electricity dues and c.exise liability.earliar managment not complied,not paid aggreed liability,and buy the time and send the cheques in clearing which bounced as payment stopped by drawer. it appears on scruity that their was no liability of pressing creditor and earliar managment on wrong pretxet take the post dated cheques in the name of subsidary co.managed by earliar management.now 138 proceeding is going on.my querry is what will be the defence of drawer and is 138 procedig valid one. what is the remedy to drawer.pl.advice with case law.
Amit
19 July 2008 at 11:55
Dear All,
A private limited, mainly in sales of hardware and software products. The company whether not being registered as a financial institution grants credit facility by way of deffered payment in monthly installment basis, which includes interest on the balance consideration amount. Whether the company can do such kind of thinks? and What legal consequences may be arised thereof?
Rajalaxmi Dei
18 July 2008 at 08:56
I trade in the stock market through a broker. The broker has allowed me margin trading facility aginst my existing shares. I bought some future contracts in January 2008. As the market moved against me I kept on meeting the Marked to Market(MTM) losses by selling some shares from my portfolio. On 21/22.01.2008 there was sharp fall in the stock market. Hence, instead of selling shares from my portfolio, I paid the MTM losses by way of cheque to my broker 22.01.2008 morning. But the broker squared off my future positions at heavy loss to me; and to adjust this loss he sold off all the shares in my portfolio thereby causing me a loss of about Rs.8-10 lacs.
The point is whether the broker has the right to square off my positions without my knowledge when I have already paid my dues (by cheque). I consider this unethical/unlawful and lodged my protest with all concerned ( SEBI, NSE, Broker). NSE have not found anything wrong in the action of the broker and have advised me to go for Arbitration if I am not satisfied with their findings.
I seek advice from any/all learned friends on my future course of action.
KamalNayanSaxena
17 July 2008 at 23:14
I understand that recently a judgement is delivered by Supreme Court holding that complainant is not required to appear in the court if vakalatnama has been filed on his behalf.
Pl. provide the said citation.
SANJAY
17 July 2008 at 11:54
Please tell me what are the formalities to be completed for setting up of firm in CHENNAI.Wat about the stamp papers and value there on
ravikanth
16 July 2008 at 15:56
1 International Bank opened a saving bank account in the name of Mr. R Singh and at the time of opening of the account handed over to him the copy of rules and regulations for conducting the account which also provided that the cheque book should be kept under lock and key and for loss if any arising from not complying with requirement, bank will not be responsible. The customer kept the cheque book in drawer and one of his office colleagues took off one cheque leave and by forging the signatures of Mr. R Singh withdrew the money from the bank. The customer claims the refund of the money:
can u tell me in which sections of
Banking regulation act, indian contract act, negotiable inwstruments act, will apply..........................?
ravikanth
16 July 2008 at 15:56
1 International Bank opened a saving bank account in the name of Mr. R Singh and at the time of opening of the account handed over to him the copy of rules and regulations for conducting the account which also provided that the cheque book should be kept under lock and key and for loss if any arising from not complying with requirement, bank will not be responsible. The customer kept the cheque book in drawer and one of his office colleagues took off one cheque leave and by forging the signatures of Mr. R Singh withdrew the money from the bank. The customer claims the refund of the money:
can u tell me in which sections of
Banking regulation act, indian contract act, negotiable inwstruments act, will apply..........................?
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Adjourned First AGM
The first AGM of the Company is to be held within 18 months of the date of incorporation. Is it possible to hold the adjourned AGM after the 18 months and if yes, when the Balancesheet and Profit & Loss of the Company to be filed with Roc within 30days of the adjourned AGm or the actual one.
Kindly advise