Legal questions on Business Law

Hi, We are a middle class family living in coastal belt of Karnataka. My uncle (dad's younger brother) is a manager at a regional rural bank. He is crazy about money and getting rich instantly. He fell into some scam (something called rice pulling which nobody knows of) and he has so far invested over one crore, gave it some stranger with a dream of making 100 crores (yes, he is a bank manager...

Hi, We are a middle class family living in coastal belt of Karnataka. My uncle (dad's younger brother) is a manager at a regional rural bank. He is crazy about money and getting rich instantly. He fell into some scam (something called rice pulling which nobody knows of) and he has so far invested over one crore, gave it some stranger with a dream of making 100 crores (yes, he is a bank manager...

Dear Sir, After passing out of my MBA, I started a manufacturing company and took a bank loan of 97 lakhs under CGTMSE scheme. Due to an unfortunate fire incident on 5th July, 2014 - our factory was gutted. As we defaulted on the loan, the case has now gone to DRT. Some points on the loan: 1) Total Loan = 97 lakhs 2) Only primary security . No mortgage of property. No personal guarantor...

Sir, I had worked as an agent of UK based company in India. Had introduced both the parties of each other. Buyer in india made payments to UK company for goods as advance. The company in UK delivered the material at port in containers. But there was delay in issuing telex release by UK company ro the buyer. Though it was done later on buyer in india had to suffer demurrage charges. UK compan...

Dear Sir, I am Narayana Vennavelli and I live in Abu Dhabi. I have ordered a birthday cake for my father's birthday to be delivered yesterday (i.e. 6th September 2015) on rediff.com. After waiting until evening, my father called the phone number listed on the delivery confirmation email (I tried several times to speak to them on the same number but no one picked up the phone). He was told tha...

I am regularly trading through M/s IDBI Capital Market Services Ltd. On [deleted] I found 20000 Unitech shares missing from my Open Position in E-Margin. The Relationship Manager told me to check in Portfolio. It was available. But I could not trade. I started taking screen shots and followed up with regular email. They sent me entire Unitech trades done by me. It did not contain information o...

Dear sir, We are running the powder coating company past 1&half year by partnership . Am the managing partner other one is working partner as per agreement . One day , my working partner asked my sign for change of address for shifting our company. So I signed the document with out reading . After some days I asked him for preparing the balance sheet .. But he was not supported me.. He submi...

Mr. Rohit Sharma started his shop in the name of M/S Vidhya Niketan in the year 2008 and gradually to increase the business, a loan was sanctioned by the Harit Pradesh Bank in the name of M/S Vidhya Niketan in the year 2011 for a sum of Rs. 60, 000/- which was increased to 2, 00, 000/- in the year 2012 and further it was increased to Rs. 3, 00, 000/- in 2015 for the purposes of Stationery a...

I work as a freelance consultant and provide development research services. The client in question (my old employee when I was working full time) and entered into a contract for my providing guidance to their research team in preparing 4 case studies. The client is based in New Delhi while I am in Lucknow. Following are the details of the contract: 1. In effect from November 20, 2014 to Mar...

Dear Sir/Madam, I have started a small manufacturing business on March 2014. For the initial capital purpose, I have borrowed Rs. 700,000 (Seven Lakhs) from my friend, for which I had to pay Rs. 14,00,000 within 1 year (i.e. by April 2015). For his security we wrote a partnership deed in which it was stated that he is the 60% stake holder and I am 40%. Our MOU is like when ever I repay his amo...

I am a Freelance Interior Designer. In 2012, I ran into a huge loss to the tune of 15 lakhs. To overcome the loss and come out of all the commitments, I approached a Person who said he will help me by giving a cash loan of 15 lakhs and also partner with me and further invest another 15 lakhs to create a proper infrastructure. This person gave me a total of 15 lakhs as promised. (Please no...

Bank had an offer wherein for using debit card 1% cashback was awarded which in turn could be converted in cash in account in same ratio / worth. I used debit card and earned cash back. Bank sent a notice on 12/06/2015 asking for recovery of excess funds credited in my bank account owing to redemption of excess cash points. They cited the The Clause on Right of Lien/Set-off, which was invoked...

This is to inform that i Anselm A Thomas resident of New Delhi India got a legal notice from an advocate in Kerela through a member who participated with me in an online MLM/Trading/Networking scheme.Putting false allegation and baseless allegations on me that i was authorized agent or a middleman in such scheme Mr Somveer Singh from Lucknow to whom i used to transfer the amount in his bank ...

Dear Sir, The Succession Certificate was applied in 2013 & received in 2014 by the legal heir.The application was filed in the name of Holder 1 who died in 2010 as deceased person.Thru inadvertance the name of the Holder 2 who died in 2011 a year later was not incorporated.Company "A" have rejected the claim for Transmission & has requested the legal heir to incorporate the Holder 2's name a...

Hi Sir/Mam, Greetings! I have bought a brand new Royal Enfield Classic 350 on 2nd of February 2015, just after a ride of 1100 kms there was a oil leake from engine head which service men did not noticed when I went for servicing. After that I went to them with the problem then they asked me to keep the bike there for 2-3 days for repairing, after teo days I came to know that it will take ...

Sir, There is one consultancy called Abhinav Immigration in delhi faclitating in supporting immigration. I deposited with them Rs 40,000/- as I was interested for immigration. I took the receipt for Rs 40,000. During same I did not sign any agreement paper. Later I appeared for IELTS exam on my own money, independently but could not score the required score to be qualified for immigration. ...

I have bought a inverter and battery from near by dealer amount of 18.ooo rs. On 10-06-14 which has guarantee of 24 months. Now suddently after 13 months the new battery got corrupted and started malfunctioning . I complaint my agent so he replaced the battery . Nowmy cocern is what wil be the guarantee period i should get of this replacement battery? when i shoot a mail to the leader group ...

Hi > I have left my previous organisation after resigning on mutual consent with S. VP - HR; as it was difficult for my to commute from my new residence (Rohini to Gurgaon) after marriage and also company was relocating even farther (Rohini to Manesar) in 3-4 months. > During my joining, i signed a service bond of 2 years worth INR 1 Lacs and left the company in 7 months. > At the time l...

Hi sir/madam, My friend had given a blank signed cheque to private bank and it was misused for large amount . And the bank person had made some tricks so that no information has reached my friend till police visits his home to harass him by showing NBW order by court. After it my friend took courage and met a lawyer and attended court , got bail and told that he has not taken any money. ...

Is there any law applicable in the economic territory of India, for Indian businesses, that serves the same purpose as the US Private Securities Litigation Act of 1995? Basically, this act protects businesses from coming under direct fire from a plaintiff. It limits frivolous securities lawsuits. Prior to this act, a plaintiff could proceed with minimal evidence of fraud and then use pretria...