Sagnik
09 April 2013 at 17:18
Dear all,
My company has been earning royalty by franchising its trade mark since 2004. My company in the year 2010 got itself registered with the service tax authority but did not pay any tax even after that.
Now if we wish to pay our service tax & regularize our affairs then how much exposure & penalties are we bound to pay ? Is there any way to compound our said default ?
Kindly advice, as to how should we move ahead in the said regard. Do know, that we are most inclined to regularize our affairs, so how should go forward with the same.
Regards,
Sagnik Sanyal
Sagnik
07 March 2013 at 11:03
Dear all,
A dispute between our company & a creditor was settled after entering into a compromise agreement & thereafter it was recorded by the court, vide a joint application by both the parties as per O.23 R. 3 of CPC. Thereafter the court came to a decision that adequate court fee was not paid by the parties & therefore the court ordered that a decree be drawn up recording the said compromise agreement , but the said decree must also bear an endorsement that the same shall not be executable until the remaining court fee is paid.
Can we act in terms of the decree now or should we have to pay up the said court fee before taking any action in terms of the said agreement ?
Kindly explain the enforceability of the said the said decree & compromise agreement in light of the said endorsement. does it affect the rights of the creditor & debtor ?
Regards,
Sagnik Sanyal
Sagnik
30 January 2013 at 16:47
Dear all,
We used to import goods from a certain foreign manufacturer under a contract. A clause in the said contract stated that the title of the said goods shall remain with the foreign manufacturer until the entire sale consideration of the goods were not paid off by us. In this situation after the goods were brought into our country but before we could pay off the entire said sale consideration towards the foreign company; the bonded warehouse were the goods was stored in, was burned down in a fire incident & all the goods perished.
In such situation can we claim ourselves to be the importer of the said goods? In what legal relation do we stand in respect of the goods which perished in the fire?
Regards,
Sagnik Sanyal
Sagnik
16 March 2012 at 12:50
Dear sir,
My query is :-
WHY IS SHAREHOLDER APPROVAL NOT REQUIRED WHEN EQUITABLE MORTGAGE IS CREATED ON AN ASSET OF THE COMPANY , BUT SHAREHOLDERS APPROVAL IS REQUIRED REQUIRED WHEN USUFRUCTORY MORTGAGE IS CREATED ?????
Regards,
Sagnik Sanyal
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Continuing guarantee_what defence to take
Dear all,
Our company had in the year 1994 availed a loan facility from Allahabad Bank. Certain the then Directors of our company & some of their relatives had become personal guarantors of the said loan. Thereafter, the said loan kept on renewing with new loan amounts etc. However, from the year 2001 the names of the said directors stopped featuring as guarantors of the renewed loan agreements. Around the year 2010 our account was declared as NPA by the said Allahabad Bank & thereafter assigned to an ARC, who thereafter approached the DRT to bring upon a prosecution on the company along with the said directors.
All the said directors are as of now not connected to our company in any manner & are of a progressive age. However, none of them have received a letter of release from the Bank & neither has even approached the Bank to release them from the said guarantee agreement.
In this context, can you kindly guide me as to how to dispute the ARC's effort to rope in the said guarantors who are not connected to the company anymore but who had in the year 1994 given their continuing guarantee ? The said guarantee agreement contains several provisions which are purely illegal in its nature. However, the guarantee is still a continuing guarantee.
Kindly guide me as how an issue of such a continuing guarantee is generally handled by the defendants.
Regards,
Sagnik Sanyal