Iqbal Singh
16 November 2009 at 18:26
There is a case in front of me where in two companies are the co-owners of the same land (say 10000 sq mtrs). Both are companies are group company. Amongst both company, one company is public limited company (LISTED) (named A having 40% share in land) and other is also Limited company (UNLISTED) (named B having 60% share in land). A and B have bifurcated their area with embarking the different sale deed specifying the area. Now A and B company has borrowed loan from Bank. Same piece of land will be mortgaged with both the bankers. According to one of the Advocate, both the company has to execute the mortgage deed on full 10000 sq mtrs of land rather than on their share as its difficulat to set boundaries for both the companies. Option given by the advocate are:
1. Execute separate sale deed demarking the area or
2. Pass a board resolution by both the companies (for full area of land) and both the companies will have to present during mortgage execution.
First iption is not feasible due to some mangement option. However, if second option is opted for, the concerned of A company is that it will amount to Corporate guarantee given by one company to another and prior approval of Central governemet will be required in case of A company.
Kindly let me know if the above is true. If yes, is there any notification or section is available which can avoid taking prior approval of Central government for execution of Mortgage deed.
Please do the needful and its required urgently.
Thanks
Anonymous
16 November 2009 at 18:22
a pregnant women embraces islam before the child is born her husband dies before the child is born now she wants to change the name of the child from ajay to sajid
Dheeraj Singh
16 November 2009 at 18:17
Hello Sir,
Once issue has been framed and matterial on record.Now Claimant wants to add fresh issues.Application for the same was filed & dismissed by the court.
Claimant has been moved an app.at HC for same purpose...
we are seeking some judgements/ helpful sites....
Teena
16 November 2009 at 18:13
Hi All,
Can any one tell me what are the rights of widow in her father-in-laws property. whether shae can claim for her and her daughter's maintainance from her father -in law?
Arul Kumar
16 November 2009 at 18:06
Dear Experts,
Please guide me with regard to rules of dedcution on the refund of advance booking amount paid to builder due to cancellation of booking before the agreement is made.
Thanking you.
Trupti
16 November 2009 at 16:43
Respected Experts
Can someone help me with the draft of the "Licence User Agreement"?
Thanking you for your quick response and with kind regards
Mrs. Trupti Patiil
Priyanka
16 November 2009 at 15:34
Dear Experts,
Could you please let me know as to what would be the stamp duty impact in case of an Uncle gifting his property to his Nephew.
Please reply.
Regards
Priyanka
sneha
16 November 2009 at 15:13
Can Defamation case be quashed? If yes then how and on what grounds?
AMAN
16 November 2009 at 13:51
HI,
CAN ANY ONE HELP ME OUT BY TELLING THAT CAN A EMAIL FROM RECOGNISED GOVT. INSTITUTION CAN BE TAKEN AS EVIDENCE IN LAW IF YES , THEN UNDER WHICH SECTION OF WHICH ACT AND IS THERE ANY JUDGEMENT ON THIS ..
REGARDS ,
AMAN
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Sec 164 of Companies Act,
Dear Experts,
sec 164 of companies Act, suggest we can take copy of extracts of balance sheet and annual returns filed - whether it is applicable for private limited company and who can apply for the same.