Hi sir,

Kindly bear with me as this is going to be a long post. I have tried to explain my problem thoroughly.
My father passed away in August 2018. He was a central government retired pensioner. For receiving the pension, he had very old savings account in SBI, let's name this branch 'A'. Unfortunately, nomination details were not updated in the account, and only after he passed away we found out about this blunder. The approximate balance is around INR 24 Lacs.
Also, in another SBI branch, let's name this branch 'B', near his office, he booked a Fixed Deposit on the day of his retirement back in July 2008. The current approximate value of FD is around INR 33 Lacs. Till date, the FD lies in branch 'B' and savings account in branch 'A'. Both of these are in different states, around 400 km away from each other. The total amount is around INR 57 Lacs.

Now, I met the branch manager or 'A', where I have savings account. He told me since my father passed away, it won't be possible to transfer the FD from branch 'B' to branch 'A' or even liquidate it. And the amount in the savings account is much higher than the amount of sum, the branch manager can disburse, based on his powers.
He proposed me to get succession certificate, where I and my sisters will disclaim the amount so that it can be transferred in my mother's name. However, he warned me getting succession certificate from a court is a very tedious, time consuming and expensive process. It can take up to 1 year and would cost me around 7% of the amount claimed because that would be the court fees, and lawyer fee would be additional.

I need genuine advice if there could be an easier way out, as I am in urgent need of those funds, Also, SBI staff is least supportive.
Thanks in advance.

-Ankit Gupta

Hi,

We are preparing a software. However we will outsource the coding to technical developer since that involves technical knowledge. In this scenario , how can we protect ourselves from technical developer delivering services on time and if he backs out during actual performance i.e non performance or performance not as per expectations. Similar situations must be experienced by others as well Eg in case of FMCG companies where actual manufacturers are different OR actors/performers/voice artist wherein there is lot of dependency on others and entire arrangement will be of no use if other party does not turn out.
Please advice if we can go for performance bank guarantee or any other procedure which is normally executed in such situations

Regards,

Sir
I am working in a private company, while my wife is working in a central government institution as faculty. I want to form a pvt ltd company where my wife will be the second partner (40% share holder, with me holding 60%). I have seen/read at this forum that while the law doesnt bar a CG employee from becoming a director, he/she would need to inform the departments/institution. I am reaching out to you for : A. Confirm that my thoughts are in compliance with the latest regulations, and that there is no illegality involved if my wife becomes a director (sleeping partner and not actively involved in day to day activities, neither getting any pecuniary benefits or profit sharing), and B. To apply for NOC, can you provide the reference to appropriate regulations that we can submit with application to enable authorities quickly issue NOC. Many thanks.

Dated: 13/4/2019

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What is Recent updated FEMA rules and is there any prior permission required from RBI?

Awaiting for kind advise please

Regards

Manoranjan Mallia
Director

Dear Sir,

My sister thinks I keep an eye on my father's property. But I have neither the intention nor any desire of any property.

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Thanks.

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Sir/Madam
Company is not running any business for last 2 years, All conditions of Sec 248 have been complied for striking off the name of company. There is no bank account in the name of the company, no assets & liabilities.
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Thanks in Advance