Legal Solutions

By Requisition only

LS. NO. 1

Income Tax

Possession of immovable property when delivered to a developer under a joint development agreement, capital gain arises, payable by the property owner because it amounts to transfer under section 2(47) of the income tax act, for the purpose of section 45. Tax is payable in the same assessment year depending on short term or long term capital gain.

Is there any method of saving? Yes

If you need this solution send your requisition with LS. No. to mgk@bangalorelawyer.com

LS. NO. 2

Trademark

When certain foreign goods or products are sold in India with a deceptive or identical Trademark or Trade name or Trade description, infringing the Trademark of an Indian product or goods, can such goods be prohibited / prevented from import / sale? Yes

If you need this solution send your requisition with LS. No. to mgk@bangalorelawyer.com

LS. NO. 3

Power of Attorney

When the owner of a immovable property executes a power of attorney authorising to sell or transfer the property,

Can the owner himself validly sell the same subsequently, before exercise of power by his attorney?

If you need this solution send your requisition with LS. No. to mgk@bangalorelawyer.com

LS. NO. 4

THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002

1. At what stage of payments default by a borrower can the Bank or Financial institution declare the account as non-performing asset (N.P.A) and take action under sec13 of SARFAESI Act?

2. What is the procedure for issue of demand notice by the bank, under Sec13/2 of the act & what should be the borrower's response against the notice if the same is illegal or otherwise?

3. What is the exact due process of law the bank has to follow & adopt to take possession of the secured/mortgaged immovable and movable property?

4. If the borrower fails to make payment even after taking possession of the property, what is the due process of law the bank has to follow to process the sale of the said mortgaged immovable & moveable property?

5. What is the civil and criminal remedy available in law for the borrower against the bank's illegal action of taking possession & sale of the property?

6. Whether criminal case can be filed against the bank , if it does not follow the prescribed legal procedure of the act or indulges in mal-practice?

7. What is the relief the borrower is entitled if the bank's action against the property is illegal?

8. Whether the borrower or the third person can file a suit against the bank?

9. Whether a writ petition (High court)can be filed against the Bank?

If you need this solution send your requisition with LS. No. to mgk@bangalorelawyer.com