Abhinav
31 October 2013 at 16:45
Hello Experts.
Q1 : Consider a scenario where a land is bought and entire expense is shown in the balance sheet as capital from two partners ?
To whom does the land belong to Partners or firm ?
Q2: Assuming the answer to above question is that the land belongs to partner and not to firm , If one of the above partner says now that they both had expressed their desire to put this land in firm as their capital investment. So now to whom does this land belong to ?
Q3: If one of the partner above is deceased, cannot the statement of second partner implicitly means that the deceased partner also meant the same.
I read section 14 that -
"Whether it is acquired for the purpose and in the course of the business of the firm."
My take : Firstly, Yes it was, infact entire land, building cost was calculated and divided equally and shown as capital of the two initial partners.
Secondly, The entire land was taken by government and we got it back as governmnet was convinced that the land "is solely being used to produce high quality engineered equipments which is saving lot of Foreign Exchange of the country". Infact this time they allowed another partner in the firm as the owner of the land as as per act one partner could not hold some X% of land for doing business. So we had to add one more partner to save the land. So now the new balance sheet shows name of 3 partners ,the land and other things as earlier is shown as depreciation in assets section.
"Such a property would become partnership property only if there is an agreement, express or implied that the property.."
If one of the original partner is saying that they both had agreed to give this land in firm as capital then does it not make sense to say that by all means land belongs to firm and not exclusively by partners ? How much value does the mutation papers hold, which still shows land is in the name of 2 partners
N.J.S.Rajkumar alias narasimha
31 October 2013 at 16:40
A civil suit was ordered in my favour in FTC and I paid the balance amount in court with in the prescribed Time.Mean Time the Other side obtained a Stay by Appeal Suit in High Court Bench it was before three years. Mean while with in this three years the Other side bu collision filed a money suit among themselves which from High Court Single Judge Court to High Court Bench Court and they even went up to Supreme Court and got it dismissed on Admission confirming the High Court Bench Order.Now the EP also got Executed.But the Stay is Still Pending waiting for the Hearing and my money is in Court.What I Should Do SIrs Please Help ME SIr RESPECTED EXPERTS WAITING FOR YOUR FAVOUR
N.J.S.Rajkumar alias narasimha
31 October 2013 at 16:32
A civil suit was ordered in my favour in FTC and I paid the balance amount in court with in the prescribed Time.Mean Time the Other side obtained a Stay by Appeal Suit in High Court Bench it was before three years. Mean while with in this three years the Other side bu collision filed a money suit among themselves which from High Court Single Judge Court to High Court Bench Court and they even went up to Supreme Court and got it dismissed on Admission confirming the High Court Bench Order.Now the EP also got Executed.But the Stay is Still Pending waiting for the Hearing and my money is in Court.What I Should Do SIrs Please Help ME SIr
Rahul Mendiratta
31 October 2013 at 16:20
Dear Experts,
I and my family have been falsely implicated in false 498a case.
All of us have got bail and charge sheet having names of all members has been submitted.
Please let me know when I can go ahead with filing 239 application for discharge.
Also what should be my starategy for the same.
What are the prerequisites for discharge.
Thanks
Harsh
31 October 2013 at 16:12
Hello,
I was working in an MNC,but due to some reasons they terminate me and take my signature on RESIGNATION,saying i am resigning for familier reasons but actually they terminate me.
And they are not able to give me a strong reason for that.
This termiantion is more like for personal reasons.
Can you please suggest me that if it is possible for me to rejoin the company,taking back my resignation.
And if they provide me the reliving letter mentioned as I am terminated,so shall i given some financial privilege from organisation.
Regards
N.J.S.Rajkumar alias narasimha
31 October 2013 at 15:43
SIRS,Earlier I was Discussing My Civil Issues with an advocate Later Since I Was not satisfied with him I fixed another advocats.I was ready to pay a small sum of fees for discussing.He is harassing me to pay the full fee of the case as discussed What I should Do SIR
N.J.S.Rajkumar alias narasimha
31 October 2013 at 15:36
SIRS,I received an advocate notice on his letter head.He is not representing any Law Firm or Law Associates.Letter head was in individual capacity of the advocate But it was signed as FOR by some body else and Not Signed by the Advocate himself.IS IT VALID SIR
Vishal S D
31 October 2013 at 14:29
Dear Sir ,
I have a friend of mine who wants to do a inter caste marriage but has a problem from girls family as they are threatening her of killing a guy and presurising her not to marry and harashing her regularly.and in boys family every one are ready.But boys parents are hesitating to take a bold step of getting both married as girls uncle is lawyer and also the way they are threatening . so can you please tell be the best approch how to resolve a conflict with any damage to both of there family and smooter way .Both boy and girl earn well are major .
thanks
Sanjib Kumar Barua
31 October 2013 at 14:15
I am the proprietor of a alcoholic beverages retail shop/ wine-shop licencee/ businessman(proprietorship).I am an income tax assessee and pay tax regularly.I had applied for a Non-Prohibited-Bore Pistol/Revolver Arms Licence to the Deputy Commissioner, Kamrup (Metro), Assam,for self protection in July, 2012. About 15 months have passed since I had applied for the said licence.While questioning by the Sub-Inspector of Police in August, 2012 if there was my involvement in any land litigation of any kind by myself, I said in the negative. However, there was a pending Misc case filed by me in 2009 against my elder brother in the office of the Settlement Officer, Guwahati Re-Settlement Operation. Now, I am contemplating to file a partition case against my elder-brother for the ancestral landed property. Does the past Misc case fall in the category of land litigation and the future partition case which I will file may be a ground for rejection of arms licence to me by the licencing authority. After filing the partition case can I file writ petition in Gauhati High Court for the early disposal of the arms licence application as well as file writ petition in Gauhati High Court if my arms licence may get rejected by the licencing authority showing the ground that I am involved in land litigation with my brother for the partition and possession of the ancestral property. Moreover, I am not an accused or a convicted person in any criminal cases.
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Notice under 138 ni act
Respected Sirs,
Related to Andhra Pradesh:
This is with regard to Cheque dis-honour case filed by the company. The court has issued summons on the party (who belongs to other state/city) through local police station. But the local police are not helping to serve the summons and they are asking the company officials to do the same on their own. When the Judge has clearly mentioned that the summons have to be served only through police and should get the endorsement from concerned police station or else it will not be considered as served.
In this context, I request your goodselves to suggest the procedure to have the summons served on the party through local police or outstation police.
If not possible, is there any alternative to serve the summons on the party, with a proof that the same is done.
I seek your kind guidance/suggestion.
Regards,
PAVAN KUMAR