Anonymous
09 October 2019 at 16:15
Dear All,
I hereby request the experts in this forum to guide me on the following:
An unlisted public company has offered to its members for allotment of shares on Rights basis. As per the recent MCA guidelines issued issued under the Rule 9A (2) of The Companies (Prospectus and Allotment of Securities) Third Amendment Rules, 2018, wherein it was expressly stated as - “Every unlisted public company making any offer for issue of any securities or buyback of securities or issue of bonus shares or rights offer shall ensure that before making such offer, entire holding of securities of its promoters, directors, key managerial personnel has been dematerialised in accordance with provisions of the Depositories Act, 1996 and regulations made there under”. However on the date of offer i.e. Record date about 70 out of 169 promoters (viz. about 42%) are yet to complete the Demat process.
On completion of the issue period the company conducted a board meeting and issued the shares on rights basis to all those members who applied for shares in such Rights Issue. Funds collected were transferred to the company's current account from the Escrow account.
Is such allotment valid as per law? What is the recourse we have to take action against the management of the company? One of the investors has filed an official complaint with the ROC however there was no action from the ROC.
Thirumalai Dasan K
09 October 2019 at 15:20
Sir/Madam, I am working in a private ltd co. in Chennai and is authorised signatory for business activities except for signing cheques. A cheque for INR 12,00,000 / - signed by MD issued to a supplier in Gujarat. Before the cheque date, we paid around 6,50,000/- through NEFT. Despite this the supplier deposited the cheque and filed a case u/s 138 at Magistrate Court in Ahmadabad against me and my former purchase colleague. Kindly explain pros and cons and advise on this. Thanks in advance
Anonymous
09 October 2019 at 13:40
Hello sir
I purchased a NPA property in June 2017, made full payment and sale certificates was issued by bank. Borrower went to DRT and case is there undecided till date. Court also made me a party. My money is struck. I do nt want money back but possession of property. More than two years has passed. What should I do to expedite the case and to get physical possession asap. Regards
Anonymous
08 October 2019 at 21:06
In a contempt order madras high court ordered two contractors n an officer to pay 40000 to a charitable trusts. In the counter affidavit also contractors submitted fake non judicial stamp papers as docs. Treasury officer says that the stamp paper are not issued to the stamp vendor. So it is fake. Now what type of case should I file in the same HC? Contempt r fresh WP etc. Kindly let me know sir
Anonymous
08 October 2019 at 20:16
I have house property(flat) which is under home loan and have Xerox of agreement deed with me.while sanctioning loan lender has taken sign of other family member that they can not claim property if something happens to me.
Can I still make will of house property in current condition.Society formation of such new building is yet to happen.
Please advise.
Swaminathan
08 October 2019 at 12:56
I have participated in bank auction under SARFAESI and declared as highest bidder and I have paid full payments for the property within stipulated time. Sale certificate also issued. Bank applied to DM for physical possession. Already 6 months over. DM order not yet issued. Borrower not disputed.
1. Whether Registration is allowed under SARFAESI act before physical possession ?
2.Can I go for registration of property or to wait for DM order ?
mabusubhani
08 October 2019 at 09:31
MY FATHER SELF EARNED PROPERTY GIFT TO HIS UNMARRIED DAUGHTER. AFTER THE DEED REGISTERED, MY FATHER PASSED AWAY (in 16months).Yet She can not changed house Tax, Electricity bill etc. What is her rights on that property. Family members ARE mother, one son, two daughters she can give that property to anyone
raghavendra
08 October 2019 at 06:56
Sir,
I have filed the writ petition challenging dismissal order. before dismissal charge sheet was issued enquiry conducted. my prayer in WP was only reinstatement, I have not paryed to quash departmental enquiry.
my question is this necessary to pray to quash the enquiry along with quash dismissal order.
Thanks
harish
Anonymous
07 October 2019 at 21:20
Sir,
Civil suit Decreed, eviction order passed by execution court, bailiff obeyed the order, possession delivered, JD filed revision near the end of 90days, section 227/115, in High court, Is revision maintainable ????, two year completed.
please advise
Regards
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Rights to sell gifted property.
Hello Experts,
I have query regarding one of my property. We are three brothers and my mom have acquired some 150 sq.yds of property through my maternal grand mother by way of a WILL. Later in 2006 the same property my mother transferred the property to us three brothers by way of a registered gift settlement deed, however it is no where mentioned in the Deed that all of us have equal share its only a simple Gift. Now I and my younger brother wants to sell the property as we stay in that house and as we live in our respective portions (my elder brother live on the first floor and me & my younger live in the ground floor) but our wives always quarrel with each other on a daily basis so unable to bear this I and my younger brother have decided to sell our share and buy some new house in different places, but my elder brother is not allowing us to sell the property though we have also asked to purchase the property if he is interested, however earlier my elder brother tried to sell his share to some third party and when i objected to it as I was interested to buy the same. Now our problem is we cannot live like that our wives fighting with each other on daily basis. I want a final solution for this. my queries are:
1. Can I file a case in the court so that the court can order my brother not to interfere in our property and we can
sell it easily without any problems?
2. Can we sell our share of property? can my brother file a case against us?
3. Is there any other remedy? But most probably i want a court order?
Plz suggest me.
Thank You.