shweta
03 March 2016 at 18:31
my brother and I are both engineers,my brother works in a company wherein he was compelled to sign an agreement stated that neither he nor his family members/blood relations can indulge into similar trade as that of his company.
now I want to start a company of dealing with similar kind of business. will I be able to start a company of that sort??
moreover if not I have a question that how can he can he mortgage my rights of bread and butter??
Pramod
27 February 2016 at 00:25
can company put an employee on non responding cases. Employee is responding but managers are trying to trap employee for non responding. Can it be a cause to put employee on PIP.
Company managers tried me to send at non performing territory by transferring to Ratangiri. But i performed good with 20% sales growth. Now reporting manager is trying to trap in non responding cases.
What law says for putting any employee on PIP to expel him out. Is there any case study or citation or judgement
KISHORE KUMAR JOSHI
26 February 2016 at 18:18
Sir, I am the director of our own family run Pvt. Ltd. Company The said company is the tenant of which I am the director. My question is Can I pay the rent to the landlord from my account of behalf of the company ?
mohd imran
26 February 2016 at 09:13
I have received notice under section 13(2) of Sarfaesi Act, asking me to make the outstanding amount within 60 days of time from the bank.
Notice period of 60 days is expiring on 29th feb 2016. And i am getting the funds on 1st or 2nd of march 2016.
Here i want to know, if i can make the payment two days after the expiry period of notice under section 13(2) or the bank will immediately issue possession notice under section 13(4), the very next day of expiry i.e on 1st of march.
And please let me know will there be any gap period after the 60 days of 13(2) notice, Before issuing notice under sec 13(4).
Goapl Garg
21 February 2016 at 21:44
I am a partner of 33% share in aprtnership firm with two other partners with same ratio shares.The firm is owners of two separate commercial buildings in two different areas.the two separate building yields rents and their accounting is separately maintained with separate bank accounts and the accounts are merged in common accounting at year end for all statutory compliances.I am opting out from my share of one building and shall continue to maintain my share in second building and rest two partners shall be 50%- 50% owners in respect of the building from which i am retiring and we all three shall remain equal partners as earlier for the second building.
we are getting different opinions for formalisation, but we have been given an advice by one of the expert that we should reconstitute the partnership deed only making/incorporating the new systems transparently and the same firm shall continue in its present form with new agreed rights, raitos, and it will entail minimumm formalities. We also like it but only need to be assured about its legality to avoid any issue later on.
We also seek advice if the experts offer any alternative.We are approaching this forum as we have always found its opinion as a safety net and reassuring.
Please opine..
aakash jain
19 February 2016 at 18:28
My Self Rajesh Verma i got a notice by raju he sent me a notice in u\s 80 cpc which is only sent to govt. employee but i am not a govt. employee. i related to private sector after received this notice. i suffered mantle, social, and economics problem after 15 days i sent in a notice to mr raju about that notice he had not any type of legale power to send me such notice u/s 80 cpc but he did not reply me then after 20 days .i post second notice to mr raju but now he is not replaying my both notices even also he is tourting me by other sources what should i do in this condition please reply me as soon as possible what type of cases. i can apply against REDEEM and where how can i apply a case against him to decrease my social value and reputation. i am sure about him .he has not any type of legal power to send me such type of notice u/s 80 cpc
Tapan kumar
18 February 2016 at 12:50
Dear Professionals.
Please inform me the rate of stamp duty and registration fees for transfer of around 4.CR equity sghares under a gift deed, by the granny to her grand son. Please let me know the total amount of stamp duty and other charges for transfer the same in mumbai
Sneha
17 February 2016 at 03:05
My family has a HUF with My Husband as Karta, myself(Wife) and Two Major Unmarried Daughters as its Members.We has a Depository Account with a private bank and shares of about 10-12 lac is lying the account.My Husband died two months ago without any will or so.As advised by CA we reconstituted the HUF Deed and Myself became karta and my two daughters as members.We decided to continue the HUF in its current form and do not wish to dissolve it as we have our flat also in its name.The normal Bank account has been allowed to continue with new arrangement and with my signature.But the Depository account has been kept suspended and the Bank says that they shall not allow(as per guidelines of NSDL) to operate the existing Depository account by myself with my two daughters as members.Instead they would transmit these shares to my and my daughter"s Depository accounts only and for that also they would need one of these three:
01..Registered Partion Deed if myself and my two daughters desire to distribute all shares equally among ourselves as Hindu Succession Act & Hindu Women Equalk Right to Property Act., 02. Succession Certificate entitling any of us to become benificiary of these shares and 03. Copy of Registered Family Settlement/Arrangementfor transfering the sahres to all/any members in a manner we desire."
Please tell why we are not allowed to continue the existing HUF Depository account as operative with change of constituion as in the case of normal banking acccoiunt?
If this is not permitted then what should we do.The Bank informally suggests to go for option No.03 as it will require lesser formalities.
Please thro light on the subject, so we can act accordingly. Local legal/CA advises vary and Bank is adamant on its own requirement.
thanks in advance.
Bharati Agarwal
17 February 2016 at 02:14
My son was an additional Director in a Pvt Ltd company working for gain.There were two other Directors who were owners of entire shares of the company.The Pvt Company obtained loan from Bank and three residential flats were mortgaged towards it as security.One Flat belonged to me personally and other two flats belonged to other two partners personally.My son demised in a road accident two years ago while travelling on duty.The two Directors continued to assure release of my flat from mortgage and also to pay my sons"s dues.Nothing happened and slowly they have distanced them from us.About seven months ago, I received Notice under Sarfaesi Act from Bank to make payment towards loan amount due from the company but the Directors did nothing to save me. Then Bank people came and pasted a Ntoice of Possession on the Gate of the Flat and published a Notice in the Newspaper giving details of loan amount and also details all three flats.The Directors, again, did nothing for us.I approached a Banking matter advocate, who has filed an application with local Debt Tribunal against Bank.I am told that the Bank has also filed a case at same Tribunal against the company and all of us, the two Directors and myself, but no notice is so far received by me as yet.On the advice of my advocate I met Distt Magistrate to find out as the Bank"s agent was threatning me to take possession with DM"s order.I was told by DM Office that the Bank has made application to DM for seeking his permission for taking possession of all three Flats with local police help.I was also told that DM office shall do as per law and shall not be able to extend any assistance in the matter to me.But while going through the Application made by Bank to DM Office( by DM Office executive to match details of my flat with my documents) he suddenly found that out of three flats, the details of one Big Flat belonging to one of the Director has been totally defaced By Whitner Pen, so the name of three mortgagers appear but details of two flats are only there.Also the related documents of only two flats are enclosed. Such Defacing is done in the application part and also in affidavit part but no counter signature etc is done.It showed the intention of Bank to hide schedule/detail of one flat out of three flat.The DM office also surprised on such Defacing and assured me to do as per law after seeking advice from their senior people but they also sensed some hide and seek in this matter.I explained all to my advocate who has told that this is a clear case of malpractice by Bank in collusion with one of the Director to save his flat from taking possession as DM office shall only give order for two flats(if they do not return such application)The advocate advised to file a criminal case against the Bank and the Director and also a Civil case against the two, but with the help of different criminal and civil advocate as he only deals in Banking matter with tribunals.
Sirs, as a lay man, I also feel there is gesture of cheating by someone(may be Banker, its agent with one of the Director) but I am not getting confidence and courage and is also shakky as to if I am at all authorised to file such criminal and civil case and if filed, shall I get any benifit or any justice.I am fighting tooth and nails to save my flat without much results so far and as a family of limited sources and help, the matter is really big and of big tension to me.I am not asking you with any remark against my current advocate but as he is not fighting criminal cases he is advising to so with other one of the subject.Hence i seek your opinion about my right and ways and means to stop such level of cheating..Please give help..Thanks, urgent matter please.
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non compliance of company act
Sir,
My wife is holding 20% shares of a pvt.ltd.,company and is one of first directors.
She has deposited 12 lac rupees to company after taking loan from someone and partly from me.
Now, the remaining directors are taking business decisions with my consent and without intimation to me about any resolutions.
Informations are their that one of the director (who was authorised to execute sale/purchase deed) has executed sale deed of land of which company is not having ownership.
Considering above irregularities my wife has offered to sale all the share to remaining director and request for resign from directorship, but neither any board meeting was called nor she was intimated about her request.
They have submitted financials report to ROC without intimation and discussion in board of directors.wherein deposits have been shown as long term loan.
They are not ready to purchase share nor permit to sale to others.
Please advise how to come out from the company with my deposits