bharat
26 May 2010 at 10:56
Dear Sir,
We had entered into a contract with Delhi Transport Corporation for providing Electronic Ticketing Machines which also included providing manpower for managing operations at depots, providing consumables like paper for ticketing etc. Our source of revenue was through advertisement on tickets.
But the business model did not sustain due to lack of cooperation from the bus conductors and DTC officials and non availability of ads during that period.
Now another tender has been floated by Delhi Integrated Multi Model Transit System for purchase Electronic Ticketing Machines. The payment shall be made to the vendor on the basis of per ticket issued through this machine.
My question is
What should we do to save ourselves?
Can there be two different business models for the similar type of work?
Is there any court judgement referring to my question above.
Hoping to get an early reply from your side pl.
Thanks and rgs
Bharat
Anonymous
25 May 2010 at 17:51
Dear Sir,
As per the revised guidelines valuation of shares for FDI is required to be based on DCF method.
Kindly advise regardng the date of the valuation certificate (ie period prior to the transaction)that will be attached with the FC-GPR form.
Your prompt reply will be very helpful.
Thanks and Regards,
Kavita
Anonymous
22 May 2010 at 17:57
A Private Company is incorporating the subsidiary company. The project cost is 5 crore, but the promoters do not want have paid up capital as 5 crore. And they are planning to issue 5% of the initial paid up capital to one of the first directors (A) under ESOP/ Sweat Equity Plan over the period of three years i.e, 1.67% at the end of each year.
Can a company issue the shares at premium for the first allotment?
Please guide me to structure the capital of the Company, and what will be share of the promoter Company and the director A (Remember Company wants Rs. 5 crore for its project). Its urgent, please help me out
Ganesh
22 May 2010 at 09:38
Dear All
I have resigned from my previous comany with 6 days notice though the notice period is of 1 month. i refuse to work/complete my remaining notice period days beacause of non payment of previous month salary.
I have 24 Earning Leave(EL) which company is supposed to pay me.
But in my Full n Final Settlment
They have deducted full salary for 22 days & They are giving only basic agaisnt EL 22 DAYS
although i have concern regarding following
1. Either deduct notice period from EL & pay me balance days
Or
2. Deduct only basic against the notice period
please advice
Anonymous
21 May 2010 at 18:06
i want to know the benefits and losses of term employment of six months . pl. guide me how to address epf & ESIC issues in such a senario
Baskaran Kanakasabai
21 May 2010 at 16:25
The LA Act 1894 says in sec51:
"51. Exemption from stamp duty and fees. - No award or agreement made under this Act shall be chargeable with stamp duty, and no person claiming under any such award or agreement shall be liable to pay any fee for a copy of the same."
It only says that any award or agreement made under this Act is exempt from stamp Duty and Fees. It does not say that such award or agreement is exempt from registration or in otherwords not registrable.
Therefore the question arises as to which of the many non-testamentary instruments generated in the LA process by the LAO or the govt or court are registrable?
sanjiv batra
21 May 2010 at 15:47
A FIRM ‘X’ IS REGISTERED UNDER ESIC SCHEME AND GETTING JOB WORK (ASSEMBLY OF MATERIAL) FROM ONE OF HIS JOB WORKER ON JOB WORKER’S PREMISES. JOB WORKER IS NOT REGISTERED UNDER ESIC SCHEME, SINCE HE IS EMPLOYING ONLY SEVEN WORKERS. HE TAKES THE MATERIAL FROM THE FIRM ‘X’ AND DELIVER THE SEMI FINISHED/ FINISHED GOODS AFTER COMPLETION OF JOB WORK (ASSEMBLY OF MATERIAL) FROM HIS PREMISES. FIRM ‘X’ DO NOT HAVE ANY CONTROL & SUPERVISION ON HIS JOB WORKER’S EMPLOYEES & QUALITY CONTROL. JOB WOKKER IS FULLY RESPONSIBLE FOR ANY DAMAGE & QUALITY AND HE IS DOING JOB WORK FOR OTHER COMPANIES ALSO.
AT THE TIME OF ESI INSPECTION, ESI INSPECTOR ASKED FIRM ‘X’ TO DEPOSIT THE ESI CONTRIBUTION OF JOB WORKER’S EMPLOYEES, SINCE THEY ARE WORKING FOR THE FIRM ‘X’.
PLEASE CLARIFY, IS THERE ANY RESPONSIBILITY OF FIRM ‘X’ TO DEPOSIT ESI CONTRIBUTION OF HIS JOB WORKER’S EMPLOYEES OR NOT?.
THANKS
Baskaran Kanakasabai
21 May 2010 at 12:32
"73. Right to proceeds of revenue sale or compensation on acquisition
(1) Where the mortgaged property or any part thereof or any interest therein is sold owing to failure to pay arrears or revenue or other charges of a public nature or rent due in respect of such property, and such failure did not arise from any default of the mortgagee, the mortgagee shall be entitled to claim payment of the mortgage-money, in whole or in part, out of any surplus of the sale-proceeds remaining after payment of the arrears and of all charges and deductions directed by law.
(2) Where the mortgaged property or any part thereof or any interest therein is acquired under the Land Acquisition Act, 1894 (1 of 1894), or any other enactment for the time being in force providing for the compulsory acquisition of immovable property, the mortgagee shall be entitled to claim payment of the mortgage-money, in whole or in part, out of the amount due to the mortgagor as compensation.
(3) Such claims shall prevail against all other claims except those of prior encumbrances, and may be enforced notwithstanding the principal money on the mortgage has not become due."
The quote is in respect of acquisition made after a mortgage is registered. What will be the status of the mortgage registered after the acquistion is notified under 4(1)?
Will it be considered by the court that the Bank that registered a mortgage "after 4(1) notification did so at its own peril"
as declared in the case of the judgement in SC 540-1996 against the purchaser of land after 4(1) notification?
Baskaran Kanakasabai
21 May 2010 at 12:12
I gather from the answers of the experts and texts of Regn Act 1908 that:
1. the sale deed entered in to between buyer and seller of a land above the value of RS.100 is a compulsorily registrable non-testamentary instrument.
2.the notification under 4(1) of LAACT1894 is a non-testamentary instrument.
In the event of both the instruments being related to the one and the same land and the first instrument being registered and the second being unregistered which one of the two will take effect against the other under sec 50 of the Registration Act which is as follows:
"50. Certain registered documents relating to land to take effect against unregistered documents
(1) Every document of the kinds mentioned in clauses (a), (b), (c) and (d) of section 17, sub-section (1), and clauses (a) and (b) of section 18, shall, if duly registered, take effect as regards the property comprised therein, against every unregistered document relating to the same property, and not being a decree or order, whether such unregistered document be of the same nature as the registered document or not.
(2) Nothing in sub-section (1) applies to leases exempted under the proviso to sub-section (1) of section 17 or to any document mentioned in sub-section (2) of the same section, or to any registered document which had not priority under the law in force at the commencement of this Act.
Explanation : In cases where Act No. XVI of 1864 or the Indian Registration Act, 1866, was in force in the place and at the time in and at which such unregistered document was executed, "unregistered" means not registered according to such Act, and, where the document is executed after the first day of July, 1871, not registered under the Indian Registration Act, 1871, or the Indian Registration Act, 1877, or this Act."
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SUB TANANCY RIGHT
I have hired office in city area from one Mr. A in 2001. Mr. A was tenant not owner. Mr. A hide that he want tenant. Now trustee of office filed case against Mr. A to vacate office and court has gave temporary order to seal office. As a sub-tenant, What rights I have ? During last 8 years I four agreement of leave and license. since last two year Mr. A is not issueing / renewing leave-license agreements for 11 months. Can I request court to give me some time to vacant and find some new place. Mr. A take Rs.2000/- p.m from and paid Rs.30/- trustee as rent. He has not paid Rent for last three years. Pl suggest remeady at earliest.
Thanks.
Amit