A proprietary concern (small scale industry) in packaging industry want to import machine worth 1200,000 Euros.

70% of the project cost is financed by Swedish Bank with quarterly re-payment terms spread over 5 years from the installation of machinery by end 2010.
Necessary documentation to finance this project is submitted through Swedish EKN (Export Credit Council).

The repayments from proprietary concern are scheduled through their bankers "Punjab National Bank".

Now,Is there any restrictions / guidelines from RBI or under FEMA on such loans in terms of Loan Amount / re-payment period?

Dear sir, how do we know wether our supplier is a MSME? will sending letters to all our suppliers seeking information on their MSME status suffice?. if interest is provided in books for delayed payment to MSME but is not paid to the respective MSME, what are the legal consequences?

Case: An Assessee have taken Home Loan and was unable to pay installments on time.

Now,Bank issued a letter of NPA to the assessee and gave him the time of 60days.

Is there any remedy available to an assessee...??

Dear all friends and seniors,
There is on Company having its Registered office at Mumbai Maharashtra.

The Company has alloted the equity shares to one of its Existing shareholders as well as to one Private limited Company.

My query is Can Company Show the allotment of Shares in Delhi and pay the same duty in Delhi instead of paying in the State of Maharashtra.

Please advise me on the above issue

Nikhil Deshpande

AS PER PROVISIONS OF SECTION 255 OF THE COMPANIES ACT, 1956 THE TOTAL NUMBER OF ROTATIONAL DIRECTORS SHALL BE 2/3RD OF TOTAL STRENGTH OF DIRECTORS. REMAINING 1/3RD OF THE TOTAL STRENGTH OF DIRECTORS CAN BE NON ROTATIONAL DIRECTORS.

NOW THE QUERRY IS:
IF THE TOTAL STRENTH OF THE COMPANY IS 5 DIRECTORS, THE MINIMUM NO. OF ROTATIONAL DIRECTORS SHALL BE 3 DIRECTORS OR 4 DIRECTORS.?

P.S.
THE PROVISIONS CONTAINED IN SECTION 256 PROVIDES THAT 1/3RD OF THE NO. OF ROTATIONAL DIRECTORS SHALL RETIRE AT EACH AGM. IT ALSO PARTICULARLY SPECIFIES THAT IF THE NUMBER IS NOT IN MULTIPLE OF 3 THAN HOW IT SHOULD BE COMPUTED. THERE IS NO SIMILAR METHOD SPECIFIED IN SECTION 255.

Ours is alisted public company.I have to file form 62 Staement in lieu of prospectus.What is the format of the resolution to be passed for this?

how can i easily understand all the laws of the subject of general and commercial law....give me the shortscuts of each and every topics...

What is Currency chest transaction in bank?

whether capital goods like machinery, fur. included in the defination of specified goods for the purpose of sec. 297

sir, wud u plz explain this
"if a bill of exchange is payable sum time after sight , it is the required to be accepted either by the drawee himself or by someone else on his behalf,before it can be presented for payment