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Queries Participated

Abdul Latif   19 May 2014 at 15:48

Stamp duty on mortgage deed

My company is going to take a loan of Rs. 25.00 Crores from the bank against which we have to mortgage two immovable properties of two directors in favour of bank. This transaction going to happened in Maharashtra.

Now only one director is present and other director is out of India for three months or more.

So we are going to mortgage one property in favour of bank for the loan and other property will be mortgaged when other director will be present. The bank agree on the same.

As per my understanding, in Maharashtra a maximum stamp duty on mortgage deed is Rs. 10 lakhs so If we execute one mortgage deed by which both properties are mortgaged then we have to pay stamp duty of Rs. 10 lakhs but
as we are executing two mortgage deed against the same loan. Do we need to pay the stamp duty of Rs. 10 lakhs on both mortgage deed though the loan amount remain same?

Can we claim exemption for other mortgage deed?

What will be the best option available to us in this case.

Thanks & Regards,
Abdul Latif

Pramod Advant   17 May 2014 at 12:52

Duplicate share certificate from co. operative housing society

I have given the application to the society for issuance of duplicate share certificate. All the formalities of Public Notice, Indemnity and notice to the members have been completed as per the advice of managing committee.

However, society has not issued us duplicate share certificate for last 3 months.

After giving notice to the members as well as to the public for issuing duplicate certificate, there was no objection raised by any member or public for issuing duplicate share certificate within the stipulated time period or even thereafter. However, managing committee is un-necessarily involiving memebers and discussing with them. Matter is dealayed. We made it clear to Managaing Committees that decision now falls within their powers. since there is no objection raised by members.

What is the legal course available to us. Is the member legally entitle to get duplicate share certificate.

Tauras   15 May 2014 at 14:20

Co-op hsg society - major repairs

Society started major repair like Re-plastering of external wall, Painting etc and they started raising additional fund which is being included in the regular maintenance bill without communicating to the member. is it right practise? Hence some member Paid full maintenance bill i.e. Maintenance + additional repair fund which is being included in the bill. But some of the member denied and paid maintenance amount only i.e. excluding repair fund. Now, after 6 months society has started charging Interest @ 21% P.a. How can society charge interest on additional repair fund since its not communicated to the member. Society work is still in progress.What is the procedure which society should require to follow before carrying out any major repair work in the bldg.Please advice on the same urgently.

trevor pereira   15 May 2014 at 12:59

Cooperative society

are members of the managing committee allowed to vote on a resolution being passed at the general body of a housing society. Please quote section

manish jain   15 May 2014 at 11:18

Leasse agreement with the bank

I have letout a space to the bank and the leasse agrement has been expired. After negotiation bank has agreed for a new rent and surrendering half of the space.

The new rent will be divided.70% will be paid as rent and 30% as maintanence.

Bank has agreed for seperate agreement for rent and maintanence.

My query is should we make two seperate agrement for the rent and the maintanence ?

And can both the seperate agreement will be registered ?

What is the best possible way?

venkatesh   27 February 2014 at 08:19

Director identification number

Is it possible to register and get a DIN while working in another company as an employee? If no, is there any other way to register my company ?

pranav bhatt   22 February 2014 at 15:38

Procedure to get sanad

Hi,
I have passed my LL.B From saurashtra University in year 2008. After LL.B. I have 3 professional degrees PGDCA, DOEACC- A LEVEL, MCA from Ignou. I want to know is there a way to get sanad, if i working in software company?
From I passed LL.B I m working as software engineer in three companies. I was not interested in this stream and presently I didn't but my main concern with my ability. If I am good in computers so why I can't in Low. I have read that there is a entrance exam clearance to get sanad. I want to get brief about this.

rahul   21 February 2014 at 20:42

Resignation

I am working on a regular post, through UPSC, in a state government. after 3 years of service I applied ,through Proper channel,for another job through UPSC. Now I have received intimation from UPSC that my name has been recommended to the concerned ministry for the post.Can I ask for technical resignation from my present employer based on the upsc letter. Or should I wait for the appointment letter from the future employer.

Abdul Latif   15 January 2014 at 19:33

Is registration of conducting agreement compulsory?

Dear Sir,

We have entered Business Conducting Agreement in Hyderabad. Property is in Hyderabad.

By the Agreement, the owner permits and allows the Conductor ( "We") to enter upon the said premises, fully described in the Schedule written hereunder to conduct the proposed business of restaurant and banqueting facility and conductor has agreed to do so at its own cost and expenses.

Further it is clearly mentioned in the Agreement that It is expressly understood that this Agreement does not confer and is not intended to confer any right of tenancy, sub-tenancy, leave and license or any other right whatsoever in or to the Premises. The Conductor, its servants and agents have been permitted and shall continue to be permitted to enter upon the said Premises during the subsistence hereof for the specific and limited purpose of enabling the Conductor to perform its obligations of conducting, operating and running the said Restaurant, and Banqueting Facility from the said Premises under the terms hereof. It is expressly clarified and declared by the parties hereto that the Conductor has not acquired any right in the said Premises whether as a sub-lessee or tenant of the Lessee. However a right to conduct business in place of the Owner is granted upon the Conductor.

As per my understanding, this Agreement is neither Lease Agreement nor any Leave and License Agreement so we do not need to get the same registered. But the Owner insist on Registration of the same.

Please advise me in this regard.

Thanks & Regards,
Abdul Latif

Abdul Latif   31 December 2013 at 15:25

Sharing of salary under settlement

Dear Sir/Madam,

Today, I got one interesting letter.

A wife of our employee sent us one letter by speed post through her Advocate saying that she has filed application for divorce from our employee and is in the process of settlement. Under the settlement, it is agreed that 50% of salary of our employee will be given to the wife for next 5 years. She now wants my company to directly credit 50% of salary of our employee to her Bank Account. Further she said that if we do not agree to give 50% of salary to her then stop making any salary to our employee till the outcome of the divorce application.

My querry are as follows :

1. How can we do that? How it is possible for us? Should we reply to that letter by saying we decline the same to do?

2. Can court ask us to give 50% of salary of our employee directly to her.

3. Is the letter have any legal implication if we do not do what she asked us to do?

4. Why we are involved in all this. We are till now, unaware of the case. How is it possible.

5. Does she have any right?

6. What should we do ?

Please advise