Member (Account Deleted)
17 October 2016 at 15:33
Suppose XYZ Ltd. have a step-down subsidiary (say Company B) outside India, which is wholly owned by their direct subsidiary outside India (say Company A). Company B has recently received RBI approval to set up a branch office in India.
Whether opening of Foreign Company B’s branch office in India will attract compliance under chapter XXII of the CA,2013? The point of contention here is that section 379 narrows the applicability of the chapter to only those Foreign Companies which have Indian equity holding of 50% or more. There is no reference of whether such holding should be “direct” or “indirect”. Therefore, in such a situation, since entire shares of Company B are held by another Foreign Company A, will the provisions of section 379 apply?
Madhu Mittal
15 October 2016 at 14:42
Please let me know the difference between Inter Corporate Deposits and Loan to Corporates for a NBFC ( being it self coportate).
Reserve Bank Of India – Return to be filled up by NBFC -NBS 9 part II Application of Funds
1. Loans & Advances
(i) Secured 0.00 201
(ii) Unsecured 0.00 202
Total 0.00 210A
Of Total Loans & Advances
(a) Inter-Corporate Deposits 0.00 203
(b) Bills Purchased & Discounted 0.00 204
(c ) Loans to Corporates 0.00 205
(d) Others 0.00 206
Total Loans & Advances 0.00 210
(a) Inter-Corporate Deposits 0.00 203
(b) Bills Purchased & Discounted 0.00 204
(c ) Loans to Corporates 0.00 205
Harsh Katara
12 October 2016 at 11:06
Hello experts,
I have query regarding recent amendment done in payment of bonus act that is increment of ceiling limit of salary from 10k to 21k for deciding eligibility. My current company is calculating ceiling limit of salary as basic and is paying bonus accordingly, further I was working earlier with another company since this amendment has been made effect. I drop them mail regarding same and they are telling me I am not eligible as they are calculating on CTC excluding variable allowance. Can someone please advise on this what is exact definition of salary under payment of bonus act? I have seen the defination but is not clearing the doubt as to what has to be included or excluded.
Thanks in advance.
Pragandh Ketkale
04 October 2016 at 17:31
If we have filed recovery suit though there is arbitration clause in agreement or transaction. If case drags for more than three years and opposite parties object that the proceedings as civil suit is not maintainable as there was Arbitration Clause.
My question is whether the Limitation for arbitration will expire or we can go for arbitration after civil suit is dismissed on the grounds of Arbitration clause.
Whether period of civil suit will be calculated in the limitation.
Denis Rodricks
01 October 2016 at 18:19
Dear Sir
I am a director in a newly formed Pvt Ltd with 30% stake, paid the share capital amount through bank by chq and also deposited extra amount for running expenses, formation of the company and logo registrations. Due to the non transparency of the other directors I want to resign as a director, please advise what steps should take regarding the accounts on the extra amount I deposited in their account and the shareholding, share certificate has not been issued yet. Thanks
Chandrashekhar
01 October 2016 at 12:15
Participated in SBBJ auction n became successful bidder deposited 25 pct of bid amount .Came to know from Seller (builder) that buyer haven't paid full consideration. I intimated bank that title is Defunct and i am not going to purchase property till title got clear between Builder n auction bank as per transfer of property act sale consideration not passed.But bank is not refund my initial deposit and demanding remaining amount with out clearing out dispute.Please guide for legal rights n action to be take.
rajan chopra
30 September 2016 at 00:04
Sir I made payment to one upender of Rs 20000/- through two cheques of 10000/- each without crossing the same of different banks and upender gave these cheques to one Abhishek for encashment on his behalf and both banks encased these cheques by getting the sign of Abhishek on the back of cheques.But One bank while entering the transaction in passbook of me has showed payment made to Upender and another bank showed that payment was made to Abhishek.Now wheather the two banks adopted right procedure or as per rules what is the right procedure ?
Anonymous
28 September 2016 at 09:34
Hi,
My current organization is unbearable so i am selected in new company but i have not informed my new company that i am currently working for some organization.
Can my new company track through pf account that i am working some where.
Kindly help
Thamks.
Janhavi Mantri
27 September 2016 at 13:42
I live in a co-operative hsg. soc. I am a member of this society. The land still belong to a charitable trust. no conveyance of land has been done. Trust is still the landowner. At the time of redevelopment the tenants have been awarded ownership flats and thus become members of the co-op soc. Those tenants who did not want to become a member of the soc. remained as tenants of the trust. The trust pays maintenance charges on behalf of tenants to the society.
Recently 3 of the tenants of trust became member of our co-operative society. They had been awarded membership by the society without any NOC or consent from the Trust who is the actual owner. As a member of society i questioned the committee about his membership and I was told that the membership has been awarded as per MHADA redevelopment rules 33 7 and according to them its legal.
My question is:
1. Can a tenant become member of co-op. soc. without noc from the trust (flat owner) under MHADA? The society is governed by co-op law.
2. Is it legal?
3. What legal steps can be taken as an individual?
4. Is it a kind of fraud?
Regards,
Janhavi
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Rajasthan public trust act matter
We have a trust for a common religious temple society registered under Rajasthan Public Trust Act.The RegisterdOffice and Temple Society is at Jhunjhunu Districtt of Rajasthan. It has members from all over India. A group of people is controlling the trust and its vast assets by grabbing power seats in Elections which is mostly unfair.This time On 11-06-2016 the secretary issued notice for election of trustee Body on 06-09-2016 and mentioned explicitly that any member having paid his membership fees by 31-03-2016 shall be eligible to vote.Also this is the stipulation in Trust Deed. But to my surprise a large number of people who submitted form on 31-03-2016 and made payments in May-June-July-Aug,2016 were allowed to vote and thus again the particular group again won and now controls the trust which is genuinely belong to society community and is rich with vast resources.Upon currently objected, no specific reply is given, only vague answer are given.This has to be stopped as now the members have lost their patience. What are the legal remedy and place of remedial measure.Please advise.