Legal questions on Business Law

Stock & payment

My problem of stock (approx Rs 3, 75,000 net) with me & balance amount to pay is approx. 1,24,000 (co. had sent me notice recently). 4 solutions given by me to co. "Approx. 3 years back, my business of your co.'s books was running smothly. Sales person was regularly coming to Surat, perform marketing tasks, give me orders, prepare primary orders etc. I was getting 5% margin. Then XYZ B...

Enforcing Bond and Relieving Issues

Dear Sir/Madam, I have been working in a Chennai based MNC for the past 6 years. After two years of joining, I have been sent abroad for training purpose (but handled live projects and not much training). Before departure, I have signed a contract with the employee stating that, I have to serve 3 years after my return to Chennai or if breached, a sum of Rs. 10 Lakhs to be paid as compensatio...

Jurisdiction issue in contract agreement

A is a businessman with a company in Delhi. He was on a vacation in Goa, where he was in a casino and urgently needed some money for the purpose of betting, and took a loan from B for Rs. 1 crore, by the way of a written agreement, and handed over majority shares in his company to B which were to act as a surety in case of default. (To be noted that B ordinarily carries his business and resides...

Business startup questions

Hello to all the Privileged lawyers on Kanoon.com. I'm into web development business and looking forward to Register the same to PVT Ltd company now. I've few doubts so would be great if you can please clarify. 1) What is best way to Register a company.. Online through companies like efilingportal, companiesinn, etc or Offline through a lawyer or Auditor. 2) What is the minimum & maximum perc...

Help me about Wireless Internet service provider

Respected Sir I am Mandeep Singh From Sri Muktsar Sahib, Punjab India (PIN 152026) I am paid to Dreamtel (Apna Telelink Pvt. Ltd.) 4 Lac. for Start Business. I paid amount by Two Cheuqes (2 Lac + 2 Lac) January 2015 and second December 2015. I have not received any bill and not signed any Agreement. Installed one tower by company and purchased device for customer with my payment. Compan...

Filing Case Against Facebook For MisConduct

I have been a Facebook user for years and suddenly they disabled my account for impersonation. On the other hand, they have allowed a fake profile that's faking my credentials and adding my friends while impersonating to stay on Facebook unchecked. I operate several pages on facebook for my brand and I also run paid ads on Facebook. Suddenly, they disabled my account and I don't have access to...

I want to open computer training center on residential purpose Bd

Thank you for reading my question. I am preparing to open my own biz in Kolkata as a foreigner. I have found a good location for computer training center, 1000 sq ft, 2nd floor of total 3 building. The owner explained he can't issue NOC for the commercial purpose when I asked him I need it for establishing my own company to Gov. (If no needed NOC, rent for me is no problem.) So I am...

LLP balance sheet not filed

Hi, My friends and I(5 partners in total) started an LLP in 2011. However due to some circumstances after registration we could not do any business using the LLP. Till date no business of even Re.1 has taken place. However we failed to file returns on the same since inception and started receiving show cause notices. Our then CA advised us to hold on as govt usually announced fine waivers...

Partner

Partner took an investment 90% of which went to expenses like rent and all which i wasnt told of . 10% of it went on building the ecommerce store which was my call but we ended up wasting money and a lot of time and couldnt develop it . Nothing is on paper . Now we have hired a 3rd party which has developed it . I want out now but my partner is not willing to let me go because i am the technica...

Store contract

Hi.. We are school uniform suppliers supplying uniforms to different schools across india through the store provided by schools within school premises. We maintain stocks as per school requirement and specifications. The stocks we provide have school monograms, school name and are made specifically for the school and cannot be utilized elsewhere. In some school in dehradun, they terminat...

What is the validity of Non-compete clauses in India?

I have been working with a startup for sometime. Now I have an offer from a competing company which I'm inclined to accept. I've had a chat with the founder of my current startup, and he is saying I won't be able to join the company as I had signed a non-compete, and if I do, legal action will be taken against me. According to this non-compete, I won't be able to be employed with or be engaged...

Performed acts of fraud and cheating, breached fiduciary duties

Back in 2010 I've started a private limited company after resigning from my job. I've invested almost all the start up expenses out of my pocket and by means of loans and by pledging gold etc. At that point of time my family wanted my younger brother to join me in this venture as they were worried about his unstable jobs and make him a mature are responsible person and in some other matters. As...

Can I join two psu at the same time

I am already working in a psu and want to join an other psu ( for which I have been selected for the post of executive ) but I have not told about the work experience of previous psu in the interview of second psu also I didn't take permission for interview from first psu now I have to join the new company as soon as possible but I do not want to resign from first company for some days ( I want...

Return of advance money

I came across a manufacturer via indimart.com he is based at Delhi and I'm from Bareilly, uttar pradesh. We made a deal for 500 ltr BMC costing 140000rs and I paid him 15000rs as token to start his work. In the whole conversation he keeps telling me that that he has a workshop at samay pur badli and asked me that he will take me there before starting work as he isn't well and can't travel to hi...

Arbitration section 34

Dear Sir, In one of my contract case independent Arbitrator was appointed by High Court. Award was passed by the Arbitrator in 2004 in my favour. The opposite party union of India accepted the award and also paid the awarded amount with interest within one month without any objection at the the time of payment. However as an after thought opposite party filed objection/petition under section ...

Breach of contract

Dear Sir, I am running a business in Spain using an internet site and a back office that I outsource to a company in New Dehly the scope of work was clear and to be deliver according to a paid amount and calendar. The company did not respect the calendar which was to be deliver in October 2015 arguing they underestimated the work . I accepted in April 2016 to put more money according to some co...

Forex Trading related Query

Hi, I am Rituraj from Mumbai. I am in need of some legal advice. I want to do Binary Option Trading in a foreign market legally from India. Now i have gone through the FEMA 1999 Act and found out it is not legal for INDIVIDUALS as currency exchange is prohibited for forex trading purposes. But recently i came across an article where it mentioned that to do forex or Binary trading legally from I...

Draw scheme for promotional of products is legal or illigal ?

Dear Sir, Good afternoon. we are looking your guidance in below promotional plan, please consider all legal issues and advice us best, is it legal? or anything? We are a Pvt Ltd firm registered in Madhya Pradesh, India have a plan to sell our product LED TV in a Draw scheme. in this scheme total customer or member will be 3000 and prizes for that member also 3000. and scheme will run on dr...

Notice for appearance at delh govt mediation and conciliation cen

This is to highlight malpractices that were recently observed from your account. The nature of these is as follows:- a. Creation of multiple customer accounts by the merchant and merchant posing as a customer by ordering products from their own account leading to cash back fraud b. Merchant ordering products for customers leading to cash back fraud c. Sales to a Fake/Suspicious customer for ...

Interest charged on a closed agri gold loan

Dear sir, I took an agriculture gold loan rs.130000/_from sbt adimali idukki,in 2012,for doing agriculture and I paid all amount before due date. I renewed the loan for rs.121000 for one more year, as my crops harvest was bad. In 2014 I closed the loan and now I have no loan with them. Now the bank has called my wife and threatened to pay Rs.5849 else they will go for revenue recovery for c...