Advocate Shobhan M P

Questions Answered by Advocate Shobhan M P

Q: Procedure to file caveat in supreme court

Can we file the caveat in online in supreme court.

Advocate Shobhan M P answered
Hi,In Supreme Court, caveat has to be filed by an Advocate on Record or party in person directly. You cannot file caveat through online it need to be filed with the registry directly in the given format and with prescribed fees.

Q: How to recover money from chit fund company

Am from XYZ. Me and my two of neighbors was paying money to one of our neighbor who used to run in her home a chit fund.. 2 years everything was good and all of sudden last year she cheated us all saying she went bankrupt since she invested our money somewhere and lost it.. The total amount sums upto 2 crore. We all 10-15 members has filed police complaint too with commissioner and case also been filed.. But there is no improvement or solution. She threatens us that she will not pay our money and also abuses s when we ask her the money.. We are a normal middle class finding ways to get help.. Kindly suggest as what can be done

Advocate Shobhan M P answered
Hi,Whether the police acted on your complaint by filing an FIR? If not you can approach the High Court with petition for direction to the police to proceed further in the said complaint. But ensure that you keep all relevant proof.

Q: Want to tie up a company which type of MOU will be needed

Hello, We are trying to tie up with a company which can help us in fetching clients for our products which is been exported. We are a Pvt Ltd and they are Proprietorship. In our case we are going to share everything 50-50 from investments to profits. What type of MoU do we need? How to make it legally strong to avoid conflicts later? Thanks in advance, Cross

Advocate Shobhan M P answered
Hi,MOUs are only an understanding between the parties and will find it hard to enforce the same before a court of law. It is always better to have an full-fledged agreement with all agreed terms and conditions. From your words, it looks like a Joint Venture (you can go for a separate entity if interested) or otherwise enter into Business Partnership Agreement and mention the scope very clearly.

Q: Can I file Insolvency Petition in court

Sir,I have a huge businees loss in this 1 year and even bank has auctioned my property with very low price.Now Bank is saying they will file money suit on me for balance amount. Even i do not have any other options to repay to my debitors and bank now. Please advice me is it psooible for me to file Insolvency petition in court.Please advice me coz really iam mentally very much disturbed and i do not know what to do.... Even two parties have filed cheque case on me...

Advocate Shobhan M P answered
Hi,As an individual you are eligible to file Insolvency Petition under the Insolvency and Bankruptcy Code, 2016 but you should not have any means including any assets in your name. The private individuals can file the same in jurisdictional DRT.

Q: procedure to pay off a personal loan

Sir 4 days before 2 people came to my parent's house and told my father that your daughter taken personal loan from Bank in 2007 amount pending rs.3,61,000 and asking to pay within 2 days. Started using abusing language and telling we will put u in jail if u will not pay. My father is 75 year old ,He had undergone bypass heart surgery last year.is not well not able to speak,They are threatening my parent all the way, Sir i am lady working in private concern and have 2 sons staying alone with parent. I am struggling for me n my children's livelihood as i am not staying with my husband,mutually we have parted our ways. now they came to my office and started harassing to settle within 2 days. I told please give me some time as this loan is 11 year old and i have to talk to legal adviser and arrange supporting documents,but they are not ready to talk to advocate also and abusing in front of every one in my office.they are not providing and statement also.How to proceed legal,

Advocate Shobhan M P answered
Hi,You can file a police complaint and moreover there is law of limitation. As per limitation laws, the bank/creditor need to initiate action for recovery within 3 years from the date of last default but as mentioned by you it is 11 year old so they may not able to recover the dues that is the reason they are using unlawful means. You can send a notice to Banking Ombudsman and also can file a police complaint against the officials of the bank for the threat they posed to you and the action of the bank is against the Supreme Court guidelines in this regard.