Dear Sir,

There is one Company in which the past promoters of the Company had triggered the OPEN Offer but they did not made the open offer to the shareholders and now they are no more the promoters of the Company and now the Company is going to be taken over by new Individual and he is making an open offer.

My query in this regards is that whether the New Individual is liable for the default made by old promoters or old promoters are liable or the Company is liable for the same and if the new promoter is liable then what are the things he needs to do to rectify the same.

Kindly cite any relevant case laws clarifying the same, If any.

Helo, please tell me weather income from trading in futures & options is taxable as Speculation business or Non speculative Business. Can we also show it in as capital loss or gain

Hello friends:

I would like to seek your guidance on a problem my uncle is facing.

The facts are: My uncle had purchased a number of shares of various companies in his wife's names some 15-20 years ago. About four years back, his wife died leaving no children.

1) How can my uncle get the shares transferred to his name? What is the procedure to be followed?

2) Some of the companies whose shares have been purchased are no longer in existence. Does it mean that the shares are worthless now, or is the shareholder entitled to take the proceeds of the winding up of the company? From whom can the proceeds of the winding up of the company be collected?

3) My uncle had bought shares of about 1 lakh of IDBI bank in his wife's name about 10 years ago, and now those shares have been misplaced/lost since about 5 years. How to find out the serial numbers of the shares lost, and how to reclaim those shares? Can we approach the company giving the name of the shareholder and asking them to search for shares in their names?

4) Some shares used to bring dividends for my uncle till about 5 years ago. But since he shifted his house, he has no longer been receiving any dividends. Is it possible to recover the arrears of those dividends?

Thank you for your time and consideration.

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