Legal questions on Business Law

Winding up petition or Summary suit

Dear Learned Members, As a trade creditor, our company wants to file a Winding Up Petition against our client company(debtor) who owes us Rs. 47 Lacs for the supply of goods to them. We have tried to contact them (directors) but they are not responding and so far we have not yet send any written demand notice to them. Further the factories have been seized by their financial creditor(ban...

Legal consequences viable for non-payment of Bond money with MNC

Hi, I was working in a reputed s/w company and I resigned of my duties an year ago. During my employment I was under an employment bond which stated that I have to work with the company for a period of 2 years, breaching of which I will be liable to pay 1lakh INR as loss recovery. I worked in company for 1 year and 3 months before resigning. I was told by my peers that the HR team might or m...

Recuitment company fee

Query: Recently, I contacted a recruitment company to hire candidates in my office. They sent a few candidates for interview. After conducting the interview with one candidate, I gave her feedback to consultancy that candidate is good but we want to negotiate in salary. The consultancy later informed that candidate will not negotiate. So, the matter was closed. No further discussion with anyone...

Personal loan is NPA more than 3yrs

I had taken personal loan of amount Rs.280000/- from HDFC bank in 2010. EMI amount was Rs.10000/-. I paid 18 EMI, after that it got NPA for more than 3yrs. I took this when I was working with kotak mahindra bank to start my own business. During the business my truck was theft and some odd happens in partnership and we had to close the business. I went bankrupt. At that time I had withdrew PF fo...

I want to start business with Indian supplier

Dear Sirs, My name is Karim, I'm the owner of Russian company. I want to: - export fly ash from Indian supplier to customers in Asia; - resell fly ash from Indian supplier to Indian customers. Please give me an advice on how to establish this business. RE: Exporting of fly ash from Indian supplier to customers in Asia 1. Legal jurisdiction. Do I have to setup a subsidiary in India, jo...

E-commerce guidlines for intl company manufacturing in India

Dear Sirs, I've been reading the latest FDI Circular & Press Note 5 (dated 07 June & 24 June respectively) However, I have some queries regarding the section below: 5.2.5 Manufacturing: Subject to the provisions of the FDI policy, foreign investment in ‘manufacturing’ sector is under automatic route. Further, a manufacturer is permitted to sell its products manufactured in India thro...

Receiving foreign funds on a crowdfunding platform

I have incorporated an (OPC) Private Limited company on 30th of June 2016. What I intend to do through my company is - Crowdfunding. Crowdfunding has various models. Ours is Donation Based crowdfunding.You can refer to the pdf attached (SEBI Consultation paper on crowdfunding) to know more in detail. What happens in a typical crowdfunding platform is - People who are planning to do someth...

Lease agreements between private and government

We have an agreement as a private hotel operations contractor and a government property - hotel that we have been running for 21 years. They had made typographical errors in the agreement showing contract till 2018 with payment schedule which we were following and making payments however they are saying contract is till 2016 and removed us from property without any notice - matter is pending in...

Money stuck in between CitiBank and BookMyShow

I have done a transaction where i had booked a movie ticket with BookMyShow of 366.00Rs on 19/06/2016. The amount was deducted from my CitiBank account but the ticket was cancelled due to internet issue the same day i called BookMyShow and asked for refund they said they will do it within 10 days. After these 10 days still the money was not credited to my account i called BookMyShow for the sam...

Action against Bhutanese buyer

Hi, My Name is Ishant and i am running a small industry of Water treatment equipments. I have supplied few plants to Bhutan as they approached us for our technology. Myself visited twice there to extend our sales and service support to them. Since we are into manufacturing industry hence minor issues like looks and asthetics are there sometime irrespective of any technical problem. We used to ...

Passport verification police adverse report for stay time

I ,Santanu Debnath, am working as seaman. I renewed my passport on February 2016. But Verification of police report is adverse as they told that within last 1 year I was not sataying in my current address. But at that 5 month period I was in Ship. They sent adverse report . Now pass port office sent me a letter telling that I was suppressed material fact . But at the time of prosseing I submitt...

Regarding getting back my investment from a business

Three of us started a business. I had invested some amount and i was the sole investor. Consequences led to disputes in three of us and two of decided to quit and third person verbally agreed that he will continue the business and he will return my money. Now he is not available in calls and in messages he says he is busy in family problems since more than two months. Also, he says he is not re...

Build houses in India.

I actually have more questions than only one. I visited India in January this year to participate in my best friend's wedding and fell in love with India and its people. So now I want to hear if it is possible to move to India and build houses for the Indian population. Not for tourists, or the rich, but for the common man and the poor. Those who really needs it. So how do I get residence and w...

Exit from a Pvt Ltd

We are 2 Directors in a Pvt Ltd Company. We opened up the company with a Paid up Capital of 100000 Rs and the share was split as 70:30 and the money was also pooled in accordingly from personal accounts in the company account. After that the Director which has 70% of the share started investing money and the Director with minority share started running the business. Today after almost 1 Year an...

Being cheated by company director

I am an NRI and one of a director out of 3, to a pvt. ltd company registered with the ROC India. The company is a news media company and is associated with the printing and publishing a daily newspaper in Kerala. The newspaper license holder is also the director of the company but the license is not linked to the company. Since the last 3 years, I was funding the company as a loan for the worki...

Starting a e-commerce business

Hello Guys, I'm staying in a municipality area. I have got a license from local municipality to run my XYZ (brand name/company name) business as Proprietorship. The license is based on separate adjusted building in my home compound. The building is used just for storage purpose and the products are sold through online website. I'm applying for VAT &CST (targeting all over India). Also gettin...

Early relieval from the company with 3 months notice

Hi, My company has 3 months notice period. I have sent termination notice agreeing to serve a notice period of 1 month for proper KT and paying the amount for the remaining two months of notice period. But they have refused the same. The clause in the contract is "Notice Period:Notwithstanding anything contained herein, the Company, in its sole discretion, may terminate your employment...

Business Partner not bringing money,delaying work,not giving time

Last year in june-july2015 me and one of my friend (10 years older than me) started a business. Initially I bring on the money for rent, partnership deed, rent agreement, and other related thing. most of the payments are been done in cash so i dont have any proof of it. From june2015-feb 2016 most of our time gone in the government process as we wanted to work in newspaper publishing, during th...

False commitment by Country Club hospitality

Hi, On 16/04/2016, We(me and my wife) went to spice mall Noida U.P. for a movie, after the movie one person came to us and asked us to fill a lottery coupon which is a free of cost and there will not be any charges for it and if you got selected in a lucky draw then you will get a 6N/7D free holiday accommodation in any of our resort across india. Since he said it’s completely free of cost s...

Full & Final Settlement due after resignd from company

Dear Sir, I worked for a company called Easun Reyrolle Ltd, Hosur. in a senior Engineer position. In July-2014 I resigned from the company due to the irregularities in the payments. I served my complete notice period and received a relieving letter from the company along with a full & final settlement report, which indicates about Rs. 6.5 Lakh ruppes payable to me by the company. As per the...