Help me in this regard
Pridee
(Querist) 30 March 2013
This query is : Resolved
Sir,
Under which act a Private limited company is prohibited to pay advance to a sole properitory firm to do business? Please let me know in the detail if there is any ban on such transaction and also elaborate about th section that prohibits such transaction.
-Deepak kumar
V R SHROFF
(Expert) 30 March 2013
ur CA is best person to guide u.
Raj Kumar Makkad
(Expert) 01 April 2013
What is the relationship of your query with criminal section?
Pridee
(Querist) 03 April 2013
Sir,
A Private limited company XYZ had transferred huge amount into my account though they had no agreement with me. I had agreement with a Bangalore based company ABC and this 3 company remitted the money to my account that is too changing the name. My bank account do not show the name of XYZ as remitor of the money. this money was returned to ABC on instruction of the director of ABC who had signed the agreement with me after the agreement was canceled. One year after the XYZ filed criminal case against me and I was arrested. during granting the bail the session judge observed that Section 372A of the Companies Act, 1956 (The Act) the XYZ had committed the crime by transferring the money to the sole proprietorship firm. I am thinking of filing application in High Court for quashing of the FIR as there was no privity of contract between me and XYZ and and if XYZ had transferred money on behalf of ABC without informing me and concealing the name of the remitor of money. I am not responsible for it.
I hope understanding this background you would reply to my query. Can I file criminal case against XYZ and its bank officials fro the fraud?
prabhakar singh
(Expert) 03 April 2013
Facts stated by you convince me to opine that you can proceed successfully in the direction you are thinking.
Sudhir Kumar, Advocate
(Expert) 03 April 2013
you waited for one year with ill-gotten money. Why FIR is registered against you.
