Legal questions on Business Law

5000 shares in a private limited company held by an Indian resident was sold to a British National residing in UK in June 2018. MOU and share transfer forms were signed. The purchaser i.e. the British National did not pay the amount to the seller. In fact, the British National transferred the said amount from another party's account which is a Trust registered in British Virgin Islands and that...

My husband and I decided to hire Regus for a month. They gave us a contract that we signed under our company name. After the contract was signed they asked for company details etc under KYC including an electricity bill which we told them was not on the company name. They kept going back and forth and told us they can't do KYC unless the electric bill was given. Fed up with the bureaucracy ...

Hello, I'm a freelancer. I'll take also serve as a vendor. I'll take projects from client and do that project with my team and submit it to client. I did two projects for X company. One project in November and another project in January and February. For 1st project I received only 20% of the payment. The total amount was Rs.61,374 and I received only Rs.13,118. So the due payment for this ...

Hi, Can an employee file a case against the employer claiming his partnership without any written records of partnership and just on the basis of personal grudge to extort money from the employer once the employee is terminated? Also, do the police have authority to question the employer without any evidence against him and just on the grounds of political pressure? Can the police force the em...

Post successful completion of your Probation and upon confirmation of your permanent stature within the Company the employment hereunder may be terminated by either party at any time, without cause other than termination by Company for Caused with prior written notice of 30 days Provided however that at the Company's sole discretion, it may immediately relieve the Employee from all duties an...

I am currently Serving my notice period Which is for 2 months. I already Completed 40 days Of notice period but I want Butout for last days As I have to undergo with medical surgery.but company is not Accepting it. Stating that You should Extend your surgery date & server full notice period. Here 👇 my Offer letter statement Regular Appointment: On satisfactory completion of your probation y...

Hi i have a partnership firm , but now among us the 3 partners the other 2 partners want an exit but i want to run that firm , so will i have to dissolve partnership firm and will i have to like first make all the payments to my creditors , receive payments from all of my debtors , and the payment of each and every family loan or unsecured loans that is with the firm right now , and sell ALL my...

Hi Sir/Madam, I am aware that the scene of dabba trading(collecting and/or managing clients money/accounts) is illegal. I was wondering there might be a way in which I will accept money from friends or clients through 1)P2P lending(not sure at what interest rate i have to accept a lending. please clarify) or through 2) accepting money by writing on stamp/bond. I wish to take profits abov...

I have a OD limit with HDFC Bank for a very long time and HDFC bank has been charging high interest rates from me and now other private bank offers me lower rate of interest and I want to switch the bank. If I switch my bank right now then do I have to pay the foreclosure charges? Today I received a letter from the bank citing the changes in the agreement regarding the prepayment charges. They ...

Hi All, I accepted the offer from XYZ LTD but not joined. Before the joining date, with Email I communicated to the HR saying that I am not going to join the company. I didn't get any kind joining bonus or any kind of payment from company. Still the company sending mail mentioning that you have to pay INR 136503/- to the company ASAP. I am adding the company mail for your reference. Dear...

A partnership firm purchased an office for their business. Later 1 more partner was added and after few years they decided to dissolved the partnership firm where 1 partner would carry on the business at the above mentioned office as a proprietor after settling all the liabilities as on date of dissolution and settling accounts of the other 3 partners by paying them. This dissolution happened w...

Hello Would like to seek guidance on the following. I am a partner in a Unregistered partnership firm in Uttar Pradesh. Because of non cooperation and unwillingness of the other partner in the daily operations, i want to retire from the firm. The partnership deed has the clause to give notice for 60 days and retire and the partnership is at will. I have mentioned to the other partner that...

I have recently joined this company and I have a non compete clause in there, the point no. 2 is very confusing to me as I can't understand how long it is valid. It goes like, Non-Compete: You shall not: • Set up your independent, affiliated or associate practice in the Valuation Profession for a period of 6 months after you leave this organization; • Perform auditing and/accounting ...

Hello Experts, I'm working as a subcontractor through a payroll registered in Pune, India (company A) and Opsvision (Company B in US) to their Client (Company C in US). I have been working a Technical support Engineer role directly reporting/working with Company C. The payroll company A and company B is just acting as a middleman to connect to Company C. Hence, Company A and myself signed a ...

I joined an MNC whose office is in Pune. They dispatched me a laptop in September 2022. Although I was aware of this, but my phone number was out of service during the delivery time. Now, due to reasons like my own health and my father's accident I wasn't able to join the company as a full time employee. I did 2 days training and then stopped attending. I thought that since I am probation they ...

I started my busines in July 2021 and took 3 lakh rupees from a Investor. I made him director in my business for 33.33 percent. Later on third partner was removed and we got on 50% basis. Now he is forcing me to pay 50% of the revenue or rs 50000 per month any how no matter my business runs or not, only in case he provides me with 10 lakh as investment amounting to rs 6 lakh per year minimum. ...

The bank initiated proceedings under by invoking Sec29 of SFC act against primary security for recovery of loan dues. When the above said proceedings were not in confirmative with the rules, I filed WP before the Hon’ble high court. The Honble High court passed an interim order in the above said WP by directing the bank to maintain status Quo. I also filed Another WP seeking the direction to ...

I have a maruti suzuki car which has been taken on loan.The loan is taken from indusind Bank. So one of my friend told me he has a business of giving cars on rent and he promised me to give the rent of 35000 per/month. So i trusted him and gave my car to him on july 2021 and in month of February 2022 he told me he has given a car to his friend on rent but he is not giving the rent and also not ...

I'm in the process of purchasing a bakery shop. The people who were earlier doing business in that shop had a condition that they'll vacate only if the new person purchases their bakery equipments at a good price. For this, another person agreed, he did an oral deal and bought the equipments from them but had not yet done any written agreement with these people or even a rent agreement with t...

Me and my sister both started a electricals retail shop financed by our father but my sister husband got involved in the business as he knows about electrical equipments and household electrical service and he already in the field of services and already running one the field with my sister as a partner in it. in this case i mentally tortured and ignored by them intentionally with the motive o...