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Can both of us be non-executive directors in our LLP, even though we’ll be working full-time at our current jobs while building the business? We’re looking to focus on getting the company off the ground without quitting our day jobs, until we can earn a sustainable income.

Can both of us be non-executive directors in our LLP, even though we'll be working full-time at our current jobs…

Corporate

2750 views1 answers298 votes

Apni Law answered 1 year ago

My friend and I started a business together, with a written agreement outlining our profit sharing. He promised to bring in 12 crore rupees for the project, but hasn’t delivered. I’m worried that if I try to part ways, he’ll file a lawsuit, making it hard for me to get loans. Our agreement only covers profits and our long-term plan. What’s the best way to remove him as a partner without legal trouble?

My friend and I started a business together, with a written agreement outlining our profit sharing. He promised to bring…

Corporate

2778 views1 answers300 votes

Apni Law answered 1 year ago

A contractor working on a project for a client in India mistakenly billed for an extra expense they weren’t entitled to. The consultant overseeing the project overlooked this error. The client later discovered the mistake and deducted the excess amount from the next payment. They also charged interest at the prevailing Prime Lending Rate (PLR) on the overpayment. The contractor now wants the excess payment recovered, claims the interest shouldn’t be charged, and requests interest on the recovered amount at the market rate. The client argues the contractor intentionally inflated the bill and should view the excess payment as an advance, with the minimum possible interest at the PLR. What’s the fairest resolution to this situation?

A contractor working on a project for a client in India mistakenly billed for an extra expense they weren't entitled…

Corporate

2814 views1 answers304 votes

Apni Law answered 1 year ago

Please be aware that this notice does not prevent our company from taking further legal action against you, both civil and criminal, without further notice.

Please be aware that this notice does not prevent our company from taking further legal action against you, both civil…

Corporate

2835 views1 answers304 votes

Apni Law answered 1 year ago

My business partner, whose name is on the company registration, cheated me. We didn’t have a formal agreement, and I invested a significant amount of money. I have handwritten account books documenting all the funds I deposited into the company.

My business partner, whose name is on the company registration, cheated me. We didn't have a formal agreement, and I…

Corporate

2848 views1 answers305 votes

Apni Law answered 1 year ago

As a software consultant, a friend of my colleague from the UK wants me to contribute to an online IT project in my spare time, offering hourly pay. However, he’s suggested setting up a company in my wife’s name in India so he can transfer the payment to that account. Is this a legal way to receive money from a foreign company? If not, what are the legal avenues for receiving payment for IT services offered to a company overseas?

As a software consultant, a friend of my colleague from the UK wants me to contribute to an online IT…

Corporate

2871 views1 answers309 votes

Apni Law answered 2 years ago

If a company in India files a genuine criminal complaint against another company, will there be any repercussions for the complainant company or its directors?

If a company in India files a genuine criminal complaint against another company, will there be any repercussions for the…

Corporate

2911 views1 answers311 votes

Apni Law answered 2 years ago

Looking to build a reliable platform for connecting talented dancers with corporate events in India? We’re building a dedicated online marketplace, focusing solely on the hiring process. What key clauses should we include in our contracts to ensure a smooth and fair experience for both dancers and event organizers?

Looking to build a reliable platform for connecting talented dancers with corporate events in India? We're building a dedicated online…

Corporate

2995 views1 answers320 votes

Apni Law answered 2 years ago

Can a private limited company’s board sell its core business without a formal resolution and notifying the Registrar of Companies? Is a deal like this even legally binding?

Can a private limited company's board sell its core business without a formal resolution and notifying the Registrar of Companies?…

Corporate

3056 views1 answers325 votes

Apni Law answered 2 years ago

My friend and I are starting a business in India. We’ll both be directors. When’s the best time to figure out how we’ll split ownership of the company?

My friend and I are starting a business in India. We'll both be directors. When's the best time to figure…

Corporate

3118 views1 answers330 votes

Apni Law answered 2 years ago

We’re planning to launch a service where we partner with local businesses in India to create and distribute discount coupons offline, using an affiliate marketing approach. We’ll be promoting these coupons through various channels, but won’t be dealing with gift coupons. We’d like to know if we need to secure any specific permissions, such as a publishing license from the Registrar of Newspapers for India or approvals from the RBI. While we understand discount coupons aren’t regulated by the RBI, we’d appreciate your guidance on any relevant legal requirements.

We're planning to launch a service where we partner with local businesses in India to create and distribute discount coupons…

Corporate

3152 views1 answers333 votes

Apni Law answered 2 years ago

Our non-banking finance company (NBFC) is up for sale. The potential buyer wants to add two directors retroactively to the board, dating back to June 2015. Our annual general meeting (AGM) has already taken place, and all the required documents have been filed. Is this possible? What penalties and actions could the Registrar of Companies (ROC) take? How much would the compounding charges be, assuming the regional director handles it? What is the total cost of these defaults?

Our non-banking finance company (NBFC) is up for sale. The potential buyer wants to add two directors retroactively to the…

Corporate

3187 views1 answers337 votes

Apni Law answered 2 years ago

My new job at a big multinational company only lasted 7 days before I left. Now they’re asking me to pay â‚¹1.5 lakh as compensation! What should I do?

My new job at a big multinational company only lasted 7 days before I left. Now they're asking me to…

Corporate

3256 views1 answers341 votes

Apni Law answered 2 years ago

What are the rules and processes involved in establishing a private company focused on aerospace and defense in India?

Corporate

3252 views1 answers343 votes

Apni Law answered 2 years ago

Thinking of launching my own venture in India and want to secure funding from VCs or PEs to fuel its growth. Aiming for an IPO someday, but I want to make sure I retain control of my company. Any tips on navigating this journey?

Thinking of launching my own venture in India and want to secure funding from VCs or PEs to fuel its…

Corporate

3288 views1 answers344 votes

Apni Law answered 2 years ago

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