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Our newly formed partnership company, with 3 other directors, is facing a tough situation. One of the directors has left with important company assets, like the website code, causing disruption. How can we address this legally and get back what’s rightfully ours?

Our newly formed partnership company, with 3 other directors, is facing a tough situation. One of the directors has left…

Corporate

1088 views1 answers150 votes

Apni Law answered 6 months ago

Our company was set up a year ago. It has two directors – an NRI with a 75% stake and a local partner with a 25% share. The local director has been taking money from the company without the NRI’s consent, despite the NRI being the sole investor.

Our company was set up a year ago. It has two directors - an NRI with a 75% stake and…

Corporate

1113 views1 answers153 votes

Apni Law answered 6 months ago

My friend, who lives in the US, is being asked to share his company’s payment processing system with an Indian tech support company. This company needs to charge their American clients through credit cards, but since they don’t have a US Social Security number, they can’t set up their own payment gateway. They’re asking my friend to let them use his, promising he won’t have to interact with their clients.Is this legal? Could my friend be held responsible if the Indian company misuses his system or if their American clients have issues? If so, is there a way to protect him through a contract that clearly states he’s only handling payments?

My friend, who lives in the US, is being asked to share his company's payment processing system with an Indian…

Corporate

1148 views1 answers156 votes

Apni Law answered 6 months ago

My partners and I started a firm three years ago. Recently, I discovered one of them has set up a similar firm in the same industry. He wants us to hire someone to take over his responsibilities so he can focus on his new venture. The issue is, hiring a replacement would cost more than what he currently earns. Additionally, I’m unsure how to share our business details with someone who’s now a competitor. What options do I have?

My partners and I started a firm three years ago. Recently, I discovered one of them has set up a…

Corporate

1171 views1 answers158 votes

Apni Law answered 6 months ago

My current company is hesitant to issue my final invoice because it means paying my incentive. I want to move on for better career opportunities but can’t afford the financial loss. Is there any legal protection for this situation?

My current company is hesitant to issue my final invoice because it means paying my incentive. I want to move…

Corporate

1201 views1 answers160 votes

Apni Law answered 7 months ago

Is an LLP considered a corporation in India? How is income from forex trading, commodities, stocks, and CFDs taxed in India? Should it be classified as capital gains or business income?

Is an LLP considered a corporation in India? How is income from forex trading, commodities, stocks, and CFDs taxed in…

Corporate

1237 views1 answers162 votes

Apni Law answered 7 months ago

My partner and I started a business together as a sole proprietorship, both of us owning equal shares. We haven’t yet formed a private limited company. Now, he wants to leave and is asking for a share in the new company if I continue running it. Is this a common practice? What are my options if it’s not? If it is, how do I negotiate fairly?

My partner and I started a business together as a sole proprietorship, both of us owning equal shares. We haven't…

Corporate

1247 views1 answers165 votes

Apni Law answered 7 months ago

I invested in City Realcom Ltd. in Mumbai, signing two agreements in December 2008 and May 2009. My cheques from the company bounced, and I understand they are now in liquidation with cases before the Supreme Court. The Mumbai High Court appointed a liquidator. I haven’t filed a claim yet, but I’m worried about losing my money. What can I do now, and what steps should I take to get a refund? Please provide complete guidance.

I invested in City Realcom Ltd. in Mumbai, signing two agreements in December 2008 and May 2009. My cheques from…

Corporate

1305 views1 answers168 votes

Apni Law answered 7 months ago

I joined a startup last year and was promised 2% ESOPs, vesting over 3 years with a 1-year cliff. This was confirmed in an email. However, I haven’t received any legal documents yet. I’m planning to leave after completing my first year. Can an email from the founders be considered legally binding when the company is sold, especially if they don’t honor their promise? If not, what steps should I take now to ensure I’m not left out during the sale?

I joined a startup last year and was promised 2% ESOPs, vesting over 3 years with a 1-year cliff. This…

Corporate

1311 views1 answers169 votes

Apni Law answered 7 months ago

Is it possible to set up an LLP (Limited Liability Partnership) in India to trade in forex and derivatives? LLPs are similar to private companies and offer separate legal identity for their partners, so I’m curious about the feasibility.

Is it possible to set up an LLP (Limited Liability Partnership) in India to trade in forex and derivatives? LLPs…

Corporate

1354 views1 answers174 votes