kavksatyanarayana
13 May 2012 at 11:26
Expert Sirs,
A Memorandum of Understanding(MOU) is executed between two parties viz "A" and "B". A(1st party)is an individual person. But B(2nd party) is a Managing Director of an Educational Society which consists more than 7 members in the society. But in fact it was not mentioned in the deed and simply written as MD of an Educational Society. And the said Educational society consists Nursing school, training institute and hospitals. It is recited in the agreement that:
(1) the first party"A" is willing to take over the nursing school, taining institute and hospitals after paying its deeds and hand loans shown by the 2nd party in maintaing the same till date.
(2) the second party "B" is willing to handover the same by withdrawing all members from the society and allowing the required number of members to be admitted as members in the society by the resolution of EC and GB of the society and by handing over the documents and properties of the society to the first party "A".
(3) the 2nd party agreed to clear all the liabilites before the date of registration of this MOU and if necessary or urgency the 1st party to clear such payments and the 1st party is having every right to recollect the same from the 2nd party, with other conditions.
with the above recitals, please let me know that the above MOU comes to which classification/nature and payable stamp duty. please give valuable opinion.
thank you experts.
kavksn, SR/Supdt(retired), kavksn@india.com
sachin
13 May 2012 at 10:36
Dear Sir/Madam,
As per bye-law 110 of the Bye-laws of the Co-op Soc registered under the Maharashtra Co-operative Societies Act, 1960 "No resolution can be brought up at the General Body Meeting of the Society cancelling its previous resolution unless 6 clear months have expired after passing of the previous resolution"
Can a Co-operative Housing Society modify the resolution, if not cancell the resoultion, if it is not achieving the objective aimed to be achieved?
If the answer is "YES" can you please help me with the decided case laws?
Regards,
Sachin
Nazish Irshad
11 May 2012 at 10:53
Is there any provision in India under foreign exchange act/notifications which does not allow hedging against currency fluctuations within the contract itself?
Natasha Khanna
10 May 2012 at 13:08
can some one provide me with the site(s) from where I can access the sachar committee report (1979), Patel Committee Report (1986) and Abid Hussain Committee Report (1989) on INSIDER TRADING? ITS URGENT
Sameer Apte
09 May 2012 at 15:02
I want to start a small mobile kitchen service, through which we want to provide food to people. This Van will go to various residential societies two times a day. The business is to be started at Maharashtra , Pune. and would like to understand What are the licences, permissions, regulations will have to be obtained for this from the government/ municipal system/ authorities. Kindly guide on the same.
Regards.
Anamika
08 May 2012 at 18:14
Hi All,
We want to file a derivative suit upon a Company as we are the shareholders of the same. We were the directors however they removed us U/s 284 of the Companies Act.
We want to file a suit upon the Company in the capacity of the shareholder.
Is Derivative suit the correct type of suit to be filed ????
If yes can I know the detailed procedure of such a type of suit ????
Can anyone please send me a format of the same ????
Thanx in advance.
Regards,
Anamika.
Dhiraj
08 May 2012 at 11:26
WHat about the bonus? an employee having Basic + D.A. more than 10,000 but whos salary i.e. Basic + DA was less than 10000/- in the previuos years and he got the bonus for those years, then,
Is such employee is eligible to claim bonus in the year in which his Basic+ DA is more than 10000/-?
vijayshree
07 May 2012 at 15:56
pls inform how long can i keep the flat in pagdi sysytem as it belong to my father whom i have lost n i do not stay in that flat nor utilise for any other purpose since 8 yeras , no electric consumtion ,only ration card of tt address , nor paid rent for last 6 years nor demamnded by the owner. pls advice . regards vijay
Dhruv
05 May 2012 at 11:23
Dear All,
An NRI lady staying in U.K. is a beneficiary to the Estate of her Late Mother who was a resident of India. Now the NRI lady has become mentally incapable and has issued Enduring Power of Attorney in favour of her husband which has been duly accepted and stamped by the Court of Protection there.
Now the Executor of the Estate wants to remit Sale proceeds of the flat sold owned by her Late mother to the NRI lady. TDS has been duly deducted and paid by the purchaser u/s 195 of the Income Tax Act, 1961 and the amount net of TDS has been deducted in the Ordinary Savings a/c account of the Estate with a nationalized bank. The problem is that the NRI lady does not have a bank account in her own name in U.K. where the funds could be remitted. The Bank people are refusing to remit funds to the bank account of the husband of the lady, who is her Enduring Power of Attorney holder, citing the reason that the husband can only accept funds in the name of her wife but cannot his wife's funds in his own name.
Kindly advise how to remit the funds.
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