Legal questions on Business Law

Consumer law for refund for faulty brand new bike

I bought a UM RENEGADE SPORTS bike worth around 2lac from SILICON CITY UM Bangalore and it was delivered to me with torn back seat paddle and torn/damaged brand name logo stickers on the fuel tank and showroom and service team promised to change during first service because they did not have a stock of it, it was unpleasant for me to get bike delivered. After 3 or 4 days i noticed oil leakag...

Succession Certificate (SC) and bank procedure

Our mother died last sept. she had FD's in SBI which after adding interest have now gone abv Rs. 10 lacs in value. she had not kept any nominee in any of them. . . . i approached the bank few days back for starting the claim procedure. the bank official gave me the formats to make notarised copies to settle the claim. in these docs was 1 indemnity bond where we assure, guarantee the bank again...

Unauthorized activity by Stock Broker in my account

I was contacted by stock broker employee in end of 2015 saying he is Business Relation manager(BRM) for my account and said he will create value if I deposit 2lakh rupees with 3 year locking period with their stock broking firm in return they provide expert guidance to make money with a dedicated BRM and an executive who will work with their strategist team and will trade on Demat account with ...

Knowingly register a Pvt Ltd company name which we already using

Dear all, Due to some reasons i'm not using my company name. I'll mention XYZ on behalf of my company name. We are based in Chennai, Tamil Nadu. We run a business in Chennai for almost 6 years. Its a IT training services. Me and my friend runs the business. Initially we got advised to go with "Partnership Firm" registration as we are not fully understand /prepared for "Pvt Ltd" registrati...

Online Fraud in Share Market investment.

I have been lured by a person, who claimed himself to be 'Share Market Expert', to invest an amount of 1.5 lakh INR in Share Bazaar. I shared credential of my Demat account so that he could trade on my behalf. Trading went for a month and he made the money ZERO! He apologised and gave some reasons and asked me to invest further 15k to mitigate the loss and promised to convert this amount to ...

Definition of amount and full liability

In Section 13(2) of Sarfaesi Act The word has written" Discharge in full his liabilities" I think it means to pay all the principal and Interest which is payable up to last EMI.Am I i it correct ? In Section 31 ( J ) writes " amount due" I have gone through Business Dictionary and other dictionary to find the meaning of " Amount Due" the answers were as under ...

Wrong Recharge and Denying Responsibility .

I did a Internet recharge of rs. 333 on my BSNl No. 3 months ago in May through Freecharge. I confirmed the recharge value and benefits with the Operator of the BSNL. I then recharged through the Freecharge and chose the Plan from their provided Plan List. In their Plan List the 333 rs. Internet recharge was available, So I did the recharge. But What I received was Top Up. Which I did not know ...

Dispute in partnership

My friend was about to run a business with his own firm and he invited me to be the part of business by giving me 50% stake in firm as well as profit and liabilities in lieu of some amount as investment and i invested in his and new firm came to known as LMN firm.My partner was 1st part partner and i was second. He intended to buy running franchisee based restaurant from the owner of that fra...

Retirement deed safeguards

Partner A and Partner B started a partnership with equal working capital in January 2014. Then Partner B could not bring more funds and Partner A had to step in and contributed 95% of the capital by 2017. Partner A was sleeping partner (not mentioned in deed, just understood). However, Partner A found that the firm was making profits which were not being disclosed by Partner B. So Partner A de...

Directors dispute.

Me and my father are directors of a pvt ltd company holding 51.5% of shares. There are other two directors holding 48.5 % shares divided into their family members and friends of 8 no of shareholders. Due to crisis in business and dispute our became npa and thereafter we made an legal agreement of settlement as 2/3 outstanding payment ro bank will be done by me and my father and the remaining ...