SANJAY SINGH
20 November 2019 at 08:52
Can I convert a Proprietor Company to Private Ltd. Company and use the Experience of Proprietor Company ? [Executed Work Order/Supply Order, Financial Position (Balance Sheet/ Profit & Loss Account etc.)] of Proprietorship Company in Private Ltd. Company as Credential for getting New Work Orders/Supply Orders for Converted Private Ltd. Company as Experience under following situations? 1. The Chairman of the Private Ltd. Company is the Proprietorship in Proprietorship Company.
This question is in reference to the judgement of New Horizons Limited Vs. Union of India (1995) 1 SCC 478
Paragraph 23 of New Horizon Limited reads as under:
Quote:
23. Even if it be assumed that the requirement regarding experience as set out in the advertisement dated 22-4-1993 inviting tenders is a condition about eligibility for consideration of the tender, though we find no basis for the same, the said requirement regarding experience cannot be construed to mean that the said experience should be of the tenderer in his name only. It is possible to visualize a situation where a person having past experience has entered into a partnership and the tender has been submitted in the name of the partnership firm, which may not have any past experience in its own name. That does not mean that the earlier experience of one of the partners of the firm cannot be taken into consideration. Similarly, a company incorporated under the Companies Act having past experience may undergo reorganization as a result of merger or amalgamation with another company, which may have no such past experience, and the tender is submitted in the name of the reorganized company. It could not be the purport of the requirement about experience that the experience of the company, which has merged into the reorganized company, cannot be taken into consideration because the tender has not been submitted in its name and has been submitted in the name of the reorganized company, which does not have experience in its name. Conversely, there may be a split in a company and persons looking after a particular field of the business of the company form a new company after leaving it. The new company, though having persons with experience in the field, has no experience in its name while the original company having experience in its name lacks persons with experience. The requirement regarding experience does not mean that the offer of the original company must be considered because it has experience in its name though it does not have experienced persons with it and ignore the offer of the new company because it does not have experience in its name though it has persons having experience in the field. While considering the requirement regarding experience it has to be borne in mind that the said requirement is contained in a document inviting offers for a commercial transaction. The terms and conditions of such a document have to be construed from the standpoint of a prudent businessman. When a businessman enters into a contract where under some work is to be performed he seeks to assure himself about the credentials of the person who is to be entrusted with the performance of the work. Such credentials are to be examined from a commercial point of view which means that if the contract is to be entered with a company he will look into the background of the company and the persons who are in control of the same and their capacity to execute the work. He would go not by the name of the company but by the persons behind the company. While keeping in view the past experience he would also take note of the present state of affairs and the equipment and resources at the disposal of the company.
Unquote:
Thanks.
Anonymous
19 November 2019 at 15:42
I have query regarding approval of share transfer form. If Company having two Directors namely Mr. A and Mr. B. and Mr. A has 90% shareholding and Mr. B has 10% shareholding. Mr. A wants to transfer his shares to his wife but Mr. B is objecting the same. He is deliberately not attending Board Meeting for approval of share transfer form and signed any documents on behalf of the Company. Then, How can this transferred in being done ?. Please provide some procedure.
sonavnayak
19 November 2019 at 13:40
Section 29 A arbitration application
I win interim order in arbitration (sec-17), now my arbitrator inform us to file application in Sec 29 A for further proceeding, why I have to file application in Sec 29-A in arbitration, as losing party contempt the interim order and I already filed Contempt petition
N Kumar Chaubey
16 November 2019 at 13:30
Hello learned lawyers,
We have filed a Writ against UOI in JUN and as no lawyer of respondents were present, honourable Calcutta High Court ordered the respondents to file a reply in 4 weeks and counter affidavit in 2 weeks thereafter if any. Ref interim relief court said : an interim order is not called for at this moment and would do a final hearing once the case is ready for hearing after affidavit and counter affidavit were filed.
The respondent filed his reply and we filed counter affidavit. Since then we are still waiting for our matter to appear in cause list for hearing. Our counsel has submitted the request for mentioning slip in aug, sept and Nov and matter is not appearing in list. What can we do for an urgent hearing, I desperately need atleast an interim relief otherwise my career & business both are getting hurt.
Appreciate your thoughts and guidance
Best Regards
SKS
Anonymous
04 November 2019 at 17:42
Our company is Active noncompliant due to non filing of INC 22A form as one of our directors expired and our minimum directorship reduced. We are also unable to file DIR 12 for new appointment of Director as per INC 22A restrictions. But as per the MCA Notification dated 16.10.2019 restrictions on appointment of new director were removed and the appointment is allowed. Therefore we were trying to file the form DIR 12 for appointment but it was showing the same error that kindly file INC 22A.
Kindly help to find a solution as it is very urgent,
Thanks in advance
Anonymous
04 November 2019 at 09:26
Please tell me if a proprietorship firm and its business has been taken over by a private limited company, how the immovable property of the proprietorship firm will be transferred to the company and is there any provision under the Companies Act which relive the company to get the property transferred in its name through execution of transfer/sale deed and to save it from payment of stamp duty?
pushpakrishna
01 November 2019 at 17:33
What is the meaning of presale notice when it issued by the banks to the borrowers and how it has to be served
pushpakrishna
29 October 2019 at 17:36
Dear experts
Is it a valid notice when a bank sent to the borrower by a private courier and and not acknowledged by the borrower and also with out notice for repayment prior to issue the pressle notice on which court admitted and passed an order infavor of the bank. But my contention was that as per the section 27 of general clauses act the presale notice is not proper and any notice must sent by the Registered post.
Hence I request you that kindly give an advice on this and give any suprem court judgements on this.
Thanq in advance.
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Maintainability of a money recovery suit.
Respected Experts, Plz. suggest your opinion. My question is:
M/S Pratap Sing Traders is owing a due amount to M/S VM Rolls. Both are companies. M/S Pratap Singh is also filed a Petition before NCLT.( National Company Law Tribunal) and in that case M/S V.M.Rolls is one of the Creditor/respondent. . My question is: since the NCLT case is pending, is it necessary for M/S V.M.Rolls to file a recovery suit against M/S Pratap Singh Traders for obtaining a decree, for the due amount by M/S Pratap Singh. So Plz. suggest.