Advocate Mukesh Agarwal

Questions Answered by Advocate Mukesh Agarwal

Q: Defaulting in payment of loan amount lent to a family member

Dear Sir, One of my distant relative took 5 lakhs from me in and around 2012-13 and paid interest on it for few months. After that he cited various reasons of losses and stopped paying interest and told me to waive off interest and he will pay the principal amount only. I agreed as I wanted to recover my money badly. For the last 2 years he is not paying interest and giving various excuses and delaying to pay the principal amount. Everytime He is just keep on extending the payment date for few more months. As the loan was given in terms of family relationship purely on the basis of faith and helping him, which has now been a burden on me. So in that case how I can I initiate action against him to get back my money.

Advocate Mukesh Agarwal answered
Yes in the given case, civil suit can be filed for recovery of loan and interest after giving a advocate notice giving a limited time to repay.,..,.....

Q: Can a trust organization invest in a company

Hi Team, Is it possible to for a trust organization to invest in any company ?

Advocate Mukesh Agarwal answered
Facts need to me more properly disclosed, such as which type of company and the nature of investment a trust wants to do. Apparently I can suggest, a trust can, provided the benefits and exemption which can be availed has to be seen.

Q: How can I save my 50lakhs money at the present stage.

I have more than 50 lakhs. want to save it. is there any way out ?

Advocate Mukesh Agarwal answered
The said querry follows many clarifications and the whereabouts of your source of income, hence, a final opinion on this point can only be given on detailed discussions. Therefore, i am unable to express any views on the above topic.

Q: Procedure for partnership firm dissolution

I have made a partnership firm with my brother 3 years ago .But i have never applied for the pan of the firm and no business or bank account in the name of the firm has been done .i just have the deed so i want to close the firm .please help

Advocate Mukesh Agarwal answered
If a partnership deed is made and is registered before the IGR, then there is a proper procedure for cancelling the same. The same is to be cancelled in prescribed form with prescribed fees - which should accompany a dissolution agreement amongst the partners, gazettee notification and paper publication(both in english and vernacular language) for public & general information. After receipt of the application the authority will cancel the same. But, if same is neither registered/executed then nothing has to be done as per the law, as because a deed if not registered or executed is not enforceable