Docok
06 March 2018 at 22:10
respected lawyers
recently my close acquaintance an elderly woman of 67 years involved in a ni case, the woman is the accused, she has taken loan from one person for 1 lakh by issuing blank promissory note and one blank cheque, after repaying the loan the friend did not return the cheque and promissory note and filed in court through his friend for 5 lakhs promissory note and 3 lakhs cheque amount. the accused did not attend the court summons for NI act and NWB is issued, one day the accused was suddenly arrested and taken to court, the police who took bribe and the other lawyer threatened her outside that if the lawyer does not sign no objection certificate she will go to jail and threatened her to tell in court she will pay amount, she admit in court that she will pay amount and next day did not attend court, again NWB is issued, the accused approached the high court to dispense the condition of 3 lakhs requirement to pay to respondent to avail the bail, the high court directed her to surrender in the lower court and take bail and ordered the court when she surrenders use normal conditions to give bail
the case has been tried, the accused through her lawyer rebutted the claim of sec 139 and the complainanat in his cross examination admitted that he is an income tax assessee and that he will fill the income tax returns of that year as he has shown the statement of loan in that but he filed the income tax returns
the accused lawyer contend with the court that the income tax assessee did not file the income tax returns as such the money would be undisclosed amount and cannot be a legally enforceable debt
the accussed lawyer also contend that even if debt exists and cheque was issued and dishonoured when the money is unaccounted it cannot be legally enforceable
the accused lawyer also contend that as per Section 269SS of IT act the amount of 5 lakhs is given in cash form and not in a cheque or dd form hence the transaction is illegal in view of law
but no matter how much the accussed lawyer contended with the court on the legality of the money the court has finally given judgement that the money legal or illegal does not matter that the accused admitted in court that day for one day that she will pay the amount and that it is binding on her and gave judgement
but the lawyer is stating that as per SC judgements and other high court judgements even if the debt exists and cheque is bounced for undisclosed amount the income tax is enough to label the money as illegal and cannot be legally recovered
he quoted mainly http://hc.tap.nic.in/hcorders/2015/crla/crla_394_2015.pdf
https://indiankanoon.org/doc/185077995/
https://indiankanoon.org/doc/164448233/
but judge is insiting on the only point that the accused enlarged on bail and now has to pay the money
the accused only told in court to enlarge on bail and she felt threatened by dire consequences by the opposition lawyer is there no relief for the accused to prosecute the complainant and win the ni appeal case sidelining the admission in court
Vineet
06 March 2018 at 20:46
If borrower did not get any notice or summon from court, can NBW issue in credit card default?
Anonymous
06 March 2018 at 20:40
Sir I m working in PSU bank,i have around 36000/-salary, my wife is living with her parents since.1.5years.In November i filled divorce case.Now she demanded 20000/-monthly maintance.she completed diploma in engg, typing, Bachelor of arts.Sir plz guide me how to reduce maintance amt
Anil sharma
06 March 2018 at 16:54
My wife has filed a case of maintenance in last weak of February 2018.
but i am unable to see this case in website of ecourt Dehradun. is it possible to see
family court matters on website???
ANIL
Surya
06 March 2018 at 16:28
Need your help to check what will be the legal documents consider to make my slum house as patra.....this was my dad name now he is no more than what is the process to transfer in my name of those documents
simran
06 March 2018 at 16:06
my question is which book should i refer to get detailed facts and judgments about case laws regarding labour law.
Nandukumar Kamat
06 March 2018 at 14:47
Dear Sir,
1.As per RBI, for a company to be classified as an NBFC, to decide on its principal business, it will have to satisfy the two tests of assets and income. The financial assets should be more than 50% of total assets) and the income from financial assets should be more than 50% of the gross total income. Both these need to be satisfied for a company to be regarded as an NBFC.
2.Our Company carrying Investment business (Only Purchase & Sells of Shares & Mutual Funds) without obtaining the certificate of registration from the RBI. Last 7 years the Company invests in only shares & Mutual Fund & Total Gross Income of company from only Financial Assets Only. Now our company received notice from RBI regarding the Registration of NBFC. In this notice they are given three option :
1) Apply for COR 2)Merge company with another NBFC 3)Wind up the Business of NBFI.
Our Company Paid up Shares Capital is 24 Lacs & reserve is 1.03 Crores.
Net Owned Fund calculation as per RBI Formula is Rs.17.07 Lacs.
Clarifications required:
We have a investment company whose main objects clause includes investments activities. If they invest more than 51% of total assets in Investments and their 51% of total income comes from dividend & Capital Gain income. The company is not accepting any public deposits and investments are made for long term purpose and not for trading- Will it be treated as an NBFC company? Since their Net Owned Funds (NOF) are less than 2 crores(17.07 Lacs as per Calculations). Can we continue the investment activity without taking RBI registration?
Please provide me a simple letter which has to be given to RBI in respect of Notice received from RBI for Registration of NBFC.
Please advise the same in above matters.
Thanks & Regards
N. K.
kabeer99
06 March 2018 at 14:40
I would like to ask, whether an HR-Head of a Limited Company can terminate a Manager with immediate effect, without issuing any kind of written Notice under the verbal allegation of Non-Performance. On the other hand he emphasized to the Manager to submit a Resignation immediately, without which did not allowed to go out of his cabin.
Not Only that, the Notice Pay is paid incomplete, Only two months Notice Pay given, whereas three Months Notice Pay and 30 days Notice is already mentioned in the Company Policy issued to the employee at the time of joining.
What will be the Option for the Manager, as he has already Resigned under Pressure and Threaten.
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