jayesh ahire
20 December 2010 at 11:43
acquisition of control of an unlisted company
An unlisted public company along with the other individuals and body corporate made an open offer to acquire 20% of an listed company and becomes one of the promoter in the target company. After the offer, the control of the unlisted company is proposed to be handed over to some other person who is not related to the promoter group.
in such a scenario.. i have following queries:
1. will such transfer of control of the unlisted company attract SAST Regulations to make open offer or pass special resolution u/r 12 by the target co?
2. is there any time limit after the offer prohibiting such transfer of control?
please consider 2 situations wherein the Unlisted Company holds 20% shares and 0% shares in the Target Company
if possible also provide any case law for the same
Anonymous
20 December 2010 at 02:02
Dear Experts,
How to provide prevailing Indian market prices of legal firearms to the court, i.e. source or method to obtain the prices which will be accepted by court as authentic prices/evidence?
Since around 1986 government had put import of firearms by arms license holders on restricted list of EXIM policy, because of this the prices of old pre-1986 foreign made firearms are selling in lakhs of Rupees per piece. For example a .357 Magnum Desert Eagle pistol is said to be sold around Rs 30-35 lakhs. But a similar old .357 Magnum Desert Eagle pistols in international market are selling around only $600-$1100. Probably no licensed firearms dealer will give prices of these firearms in writing, probably because most of these transactions, like real estate transactions are shown on papers, at prices lower than the actual prices at which transactions takes place.
ranjana singh
20 December 2010 at 00:27
my friend joined a national carrier as a pilot. upon joining he was asked to sign a bond with the company for a period of 5 years,and was also required to give post dated cheques worth 25lakhs,which the company was to encash in the event of him not completing the 5 year term period.other then giving the postdated cheques,he was not to pay any money towards his training cost.now its has been 1 1/2 years,and the company has suddenly decided to recover the cost of his training which they claim is 25 lakhs,to be deducted every month from his salary.my question is--
1.is the company authorised to change its policy after 1 1/2 years of joining, had they been clear on this issue my friend would have joined some other company.
2.my friend is still not confirmed,which would happen after he completes a 2 year service with the company, now only 6 months are left. so can he still go to the court, without fearing for his job?
Madhukar Bhatt
19 December 2010 at 21:21
I need to find one judgment given by H'Nable Gujarat HC Judge Mr.B.C.Patel few 6/8 years back on Ahmedabad City Talavadi [Pond]]encroached by slums & vested interest to be vacated & to make that places of Talavadis of Ahmedabad filled with water & surrounding garden. The same judgement was approved & upheld in Supremene Court also.
According to this judgement some of such Talavadis are changed to pond & garden but few still remains with slums.I want to go for cotempt of court to AMC / Urban Land Developement Authroity / also to inform H'nable Chief Justice of Gujarat why few talavadis not changed to pond & garden as still slums & encroachment is there due to political vested interest. shall be thankful if you will guide me to search this above judgement from any website / AIR online. Your help appreciated.
Anonymous
19 December 2010 at 20:08
Respected sir,
I need urgent help regarding child custody. My wife left her matrimonial house in month of Sep.2007. After that she filed a DV in Dec.2007. First hearing was in 21-03-2008. The Hon’ble judge sahib called both of us in his chamber and asked me that your wife has claimed Rs. 1650/- PM from you for your child Manas. I replied that I am ready to pay the complete amount but I must be allowed to meet my son at the very hearing. He agreed for that and passed the direction that I have to pay Rs. 20,000/- including 13,300/- donation which she has paid for that. And told her to bring the child on the next date of hearing . This was hardly continued thrice in his order. As per the order in Jul 08, he stated that because of the heavy rush, no order could be passed and court adjourned. Since that day onwards, she did not turn-up nor she brought the child for meeting till Sep.09. In between I filed a petition on for the permanent custody u/s 25 as well as visitation rights
u/s 12. on 13/12/2008. The respondent submitted the reply of Sec. 25 after the nine months of my petition filed on 9-9-2009 and Sec. 12 reply has not been filed till date. I was only allowed to meet my son on Dewali as well as on his birthday on 14-10-2009 and 19-10-2009. After that many orders passed by the Hon’ble court to bring the child in the court. They did not obey the orders issued by the court. Lastly on 7-9-2010, I decision of my application u/s 12 dated 13-12-2008 may kindly be finalized and also non compliance of order5s issued to bring the child. The copy of my this application was handed over to the respondent for the reply. But still they did not submit the reply of my application. After two months, they said that they have not received the copy dated 13-12-2008. Again the copy of my petition was supplied to them and Hon’ble court pass the direction to bring the child and also submit the reply by of my petition dated 13-12-2008 by or before 20-11-2010. Again the reply was not submitted in the court . as the child was produc4ed in the court . I met with the child and give me gift of Rs. 3000/- plus sweet which he has taken in front of the court and after ten minutes my wife told that she want to take child with her for his tuition. After ten minutes of my meeting , the judge sahib asked my son whether you want to meet your father in future, he gave the reply in negative because of her mother pressure who was holding his hand. When again I requested the court that I may please be permitted to meet my son . He did not agreed and told that as he is not interested so I cannot compel the child to be produced in the court. As I was not happy with the order passed by the hon’ble court. I filed a revision petition to challenge the order dated 20-11-2010.in the High Court , Chandigarh.
I request your honour to kindly give me few judgments regarding that father( Non- custodial ) parents cannot be denied for the visiting rights and any other judgments you deem fit in my case.
With kind regards
Anonymous
19 December 2010 at 00:05
Dear Sir/Ma'm,
My father, his brothers and sisters are a family of 6 people. We have our own property in Delhi. The owner of the property is my grandmother who is now deceased. A registered will was made when she was alive bequeathing the property in the name of my father and his 2 brothers. We now wish to reach an amicable settlement with my three aunts and for this we would like to have a family settlement. The situation is that currently we are not in a position to pay the settlement amount. My question is whether we can make a legal document which is like a promissory note in which we can defer the settlement amount until a suitable time when we are in a position to pay. I would also like to know if such a document is made will it be binding on both the parties ie. my father and his 2 brothers and the second party being my 3 aunts. What steps can we take to make sucha document binding until such an amount can be paid.
Rajesh Mahipal
18 December 2010 at 19:37
Whether VAT will be applicable or not in case of transfer of fixed assets only from partnership firm to private limited company under VAT Act Haryana and Punjab.
Anonymous
18 December 2010 at 17:41
An employee named 'A' was working as Assistant Officer in a reputed Private Limited Company which will be named as 'B'in this query onwards, at their work site .A was working in 'B' since July2008 till 25/11/2009.
'A 'was travelling in vehicle( Bolaro Jeep) ,now onward this will be referred as 'C' which was private one & hired by the 'B' for their official work,towards Allahabad, met with an accident as the right front portion of said vehicle 'C' badly collided with a rear right portion of the halted truck at National Highway on the night of 25th & 26th November 2009.At that time beside 'A',two more persons were in 'C'including driver of the vehicle on driver seat & other person in rear seat.'A' was unfortunately sitting on the front right seat of the vehicle.Due to collision of the right front portion of 'C','A' was badly injured with severe had injury while remaining two including driver were too injured.'A ' had become unconscious at the accident spot and laterly gone to coma .These injured persons were brought to the Hospital by the local police for treatment .For better treatment 'A'was shifted to private hospital where he was treated till 2nd December 2009 & collapsed on 2nd December 2009 at about 03.00 PM.His dead body was brought to her native place after completing all legal formalities.All the medical & hospital expenses of 'A'for the period from 26/11/2009 to till his death on 2/12/2009 and transport expenses for transportation of 'A's dead body to his native place was incurred by the employer company 'B'.'B's representative visited the
said private Hospital daily to ascertain the condition of the victim & paid the medical & hospital expenses to the caretaker/parent of 'A' daily during the said period.They had also arranged transportation of his dead body to his ('A') native place after hearing from caretaker of 'A'about his death .
After completion of all ritual formalities and lapses of certain period ,the parents of the late 'A' visited the nearest authority of the 'B' for payment of legate-mate claims due to loss of their 30 year old son on account of his death in their ('B') duty.
The company ('B')'s authorities informed the parents verbally that 'A' had left the job on 25/11/2009 as such no claim is payable by the company.
Further written request were made frequently through email & through registered post to company ('B')'s M D & other authorities of 'B'but no response is yet received.
An legal action for lodging 3rd party claim has already been initiated but nothing is
achieved till yet.
My query is about the fact that('B') is not taking any notice of the requests made for payment of legitimate claim of ('A')'s death and verbally denied on the ground that ('A') left the job on 25/11/2010 in-spite of the following fact
(1)that the 'A' was travelling on company's
vehicle & met with fatal accident due to collision of company's vehicle,
(2)that all medical & hospital expenses were met by the company after accident till his death,
(3)that 'A' became unconscious immediate after accident & later in coma till his death so he was not in a position to communicate any thing to his parent or other nearer & dearer,
(4) that a document named 'Service Certificate'was found stating date of relieving 25/11/2009 & reasons for leaving -'on his own accord',
(5)that day before the accident he informed his mother that he was coming to his native
place to report the other work site of his company ('B') near has native place as he was transferred to that site,
and (6)the expenses towards the transportation of dead body of 'A'from the hospital to his native place too was met by the company 'B'.
In this matter all experts of the subject
are requested to examine it & give candid opinion & comments with suggestion for further course of action to be taken by the parents.
ptr
18 December 2010 at 12:16
Sir,
DOPT advised to fix my pay under FR 27 as I moved from Steno (4000-100-6000) to LDC (3050-75-4590) both in Central Govt. by accepting technical resignation. At the time of relieving my Basic pay in HIgher post is Rs.4,000/-.
Our Head of Dept. fixed my pay under FR 27 at Rs.3,050 only just preponed increment 4 months, instead of fixing Rs.4,000/- (i.e.3950+50PP) without considering the monitory loss to the candidate.
Is it correct. Can I appeal for the same. Can you please send your valuable suggetions in this regard and If any any special orders/ provisions, fundamental rules, court orders, websites for getting material are available kindly send to my email ( rao_hyderabad2010@yahoo.com or Cell No.099084 27272) for which act of kindness I shall be very much grateful to you.
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divorce
i married in may 2010. after good two months the tragedy has started. Due to her short temperedness she has daily quarels with my parents. she never takes back her words. as being working in press, she thinks she is the only one with brain others are just stupid. she never listens to anyone who comes to tell her some few good words.she insulted my parents my brothers even me to. sometimes she herself talks of divorce. but when i get agree on divorce, she calls her parents and complains abt me and my family. we have many times called her parents and family relatives to give her some good advice. but instead they blame us for her ill health. she is already having high bp since marriage. she keeps on frightening me with suicudal acts. i m very frstrated. i cannot leave my rest life in her pressure. should i move for divorce. she daily irritates me on any topic. she says she has many contacts with goons and police and political people.
she wants to leave separately with me only and also she want to break all family ties i have.
please help me and save from this sankat. should i go ahead for divorce
thnks and regards