I have agreed to purchase a commercial office space for total value amounting to 30L. In which we both party verbally decided that the agreement should be done of 20L and 10L should be given in cash.

The seller told that the first cash transaction should be completed and then remaining 20L by cheque.

So I gave the seller 50K cash and he gave his office documents xerox copy so that I can get them verified with lawyer. But due to some work pressure I delayed that process and before getting verified the documents I gave another 4.5L in cash. So total 5L.

I have written proof that he has received 5L in cash.

But now when we get the documents verified with 2-3 lawyers and also in one bank, we came to know that the title is not proper and the property if some kind of not legal or not have the actual permission for commercial space or like that and even if we purchase now then in future it can not be sold out and the loan can also be not given on that property.

So we cancelled the deal and now seller is paying only 2.5L cash and saying that other 2.5L will not give.

So sir I want to know that is there any kind of provision or legality that in case of cancellation of deal by buyer due to legality of the property seller can not forfiet any amount or something like that?

Hoping for your advice ASAP.

Thanking You!

WE ARE NOT ABLE TO FILE DIR-5 E FORM SURRENDER OF DIN OF DIRECTOR . THE DIRECTOR HAS FILED DIR-12 AND RESIGNED FROM THE COMPANY . NOW SHE IS NOT ASSOCIATED WITH ANY COMPANY BUT DIR-5 SHOWS ERROR THAT DIRECTOR SHOULD NOT BE ASSCOIATED WITH ANY COMPANY FROM THE DATE OF PROCURING DIN. DOES ANYONE HOW TO SURRENDER HER DIN OTHER THAN FILING OF DIR-5????

We are a Section 8 Company and are planning on receiving funds from stakeholders (companies, societies, trusts, individuals) since our activities will benefit them. Should we receive them as donations or in some other prescribed format? Also, what document(s) should we demand along with the check (resolution etc) for our safeguard? Will appreciate if the format could be shared too.

I am selling my house property to A and B (Husband and Wife). Whether wife can be a Purchaser along with her husband without contributing any amount ( consideration) for purchase of the House Property.
From Legal and Tax angle how it will affect the Seller ?

Is it possible to download MOA and AOA from MCA portal

A plot of land is owned by my father. My father expired before one month. Mother is alive. We are two brothers only and no sister. Before about 15 years, my father had sworn an Affidavit allowing my elder brother to construct a residential house on the said plot of land (While taking a Bank loan for constructing the house). And my elder brother constructed the house in which we are residing now. Bank loan has also been squared up. Does the said "Affidavit" by my father create any ownership right to my elder brother ?

Respected Members,

A partnership firm has two partners which owns some landed property. One of the two partners passed away.

Question :
1. Who becomes the owner of the landed property?

2. Does it become joint property of 1st deceased partner's family & 2nd partner and accordingly will these names be mutated in land records?

3. Does it become sole properietorship of 2nd partner i.e he becomes the sole owner of the property?

Contradictory views :

1. Local experts have given contradictory views.

2. I read the view of the Supreme court in a judgement of 2016? that the partnership automatically dissolves even if there is clause to the contrary (In this partnership also there was a clause that the partnership shall not dissolve on death of a partner).

I would be very thankful for your valued reply.

Hi all,

Can anyone please suggest if the study material for LAW and Audit (CA final - Old course) is sufficient? or should I study any additional author for these two subjects?

Regards,
Komal

Hi Sir,

What is the Minimum Stamp Paper Value of
Bihar
Maharashtra
Jharkhand
Kerala
Uttar Pradesh
Tamil Nadu
West Bengal

Please help. Thank you.

Hi All.
What is Turnover Definition under MSME Act.?