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Raja Sundarraman   06 June 2008 at 22:28

Personal Loan -Interest rate

Respected Learned Friends,

A Hong Kong based private bank had entered into a personal loan agreement with my client for a sum of Rs.25,000/- at 39 % of interest p.a . After deducting the processing and other charges , a sum of Rs. 23,899/- was received by my client and as per the agreed repayment schedule , the loan is to be repaid by way of 36 EMIs of each RS.1404/-
After a successfull payment of 9 EMIs (ie Rs.12,636/-), the Bank called him over phone to 'top up' the said loan and The loan is now 'topped up' in the following manner!
1. Out of total 9 EMIs , a sum of about Rs 9500/- is said to be repaid towards the interest! The rest of the amount has been magnanimously deducted from the loan amount!!
2 . By a fresh personal loan for the amount about RS.33,000/- is sanctioned to him and after pre-closing the previous loan amount, theremaining about Rs.10000/- by way of Cheque has been issued to him!!!
3. Be kind enough to have a look on the schedule of repayment - 40 EMIs of Rs.1680 each!!!!

Learned Friends , I invite your valuable opinions.






Shaival   02 June 2008 at 16:55

Query About registration

Hi,

I would like to ask What is I have formed a group and having a member around 100 of same proffesion. How to register my group so that I not have to face legal prob. But if registered we are not in a situation to sit in office we all are proffesional and doing job. and had a group..........!

Guide me....!

Regards


Shaival Tiwari
9824013689

KIRAN KOTHARI   01 June 2008 at 11:34

NPA DATE from RBI GUIDE LINES

If concern A borrow fund from Urban Co-op.Bank on 1-04-1994 Rs.50lacs and become NPA(in the books of bank) on 3-03-1995.Thereafter,that Bank grant new loans to associate concern B on 26-03-1997 Rs.100lacs and out of that debt of A Rs.87lacs were deposited and account was closed.Now B has been NPA(in the Books of Bank) on 30-06-1998.
question:
what is NPA date for B as per RBI guide line and what about interest payments in the accounts A out new borroings?

N.K.Assumi   28 May 2008 at 19:23

Conflicts between Limitation Act and Contract Act;

If after the expiry of limitation period an exacknowledgement is executed under section 18 of the limitation Act by way of revival letter to pay the existing pronote, can it be read as one as a promise to pay time barred debt under section 25(3) of the Contract act, even if the acknowledgement do not contain any promise to pay time barred debt?

ashish   24 May 2008 at 14:41

essential commodities act

can any1 explain wat is 7e.c.,and wat r its provisions?

mandeep   24 May 2008 at 13:30

take over of company.

How can we take over pvt. ltd. co by a public ltd. company.

and
avoid capital gain tax on takeover of properties through purchase of shares.

ambica   19 May 2008 at 17:39

Corporate Law

Kindly let us know the detailed step to step process for change in name of the Section-25 Company and also the procedure for alteration of an object clause in Memorandum of Association in Section.25 Company.

MR.MUKESH MOHAN CHANDIRAMANI   12 May 2008 at 09:48

petition against reliance power limited

i want file petition against reliance power ltd ipo i want to know tour drafting charges as i will replresent my case personally
u can call me on 02232976228

Nilesh   10 May 2008 at 11:46

Books Shop Online

Is any legal documentation or agency is required for starting books shop online (schools,medical and engg. books )

Heaven 2011   09 May 2008 at 16:01

Board Meeting through VC

Mr Rajesh Kumar kindly tell me which section of the Companies Act affirms convenning the Board Meeting through VC. Unless and untill I find a specified section of the concerned Act in support of our view how can I persuade the Board to proceed ? Are there any recent past instances where we find a company (Indian) to convene BM through VC if so kindly send their names.
Regards,
Asish