Advocate Junaid Ahmed

Questions Answered by Advocate Junaid Ahmed

Q: Want to know the procedure of permit for commercial taxi

Dear sir we want your valuable advice with regards to permit/ licence required to run a taxi/ cab business from governing authorities like RTO and Etc , sir in this case we don't own any vehicles , we have online website for booking vehicles ..we are the aggregators of yellow board cabs and pay them as per KM to car owners ...please guide us what permit we need to obtain under vehicle motors act...

Advocate Junaid Ahmed answered
Hey! Companies carrying on the business of cab aggregators in Karnataka would be required to obtain license under the Karnataka On-demand Transportation Technology Aggregator Rules, 2016. This rule, however is applicable only to an aggregator having a minimum of 100 cars.

Q: extension time for repayment of bank loan

I have borrowed loan of worth 5lakhs as over draft from a bank, for running a restaurant. As the business was in loss i had to sell the restaurant and now the bank is aware of it and they are forcing me to pay back the borrowed amount in a week's time. Is there a chance where i can negotiate the repayment time of the for a year. Please reply back. Thank you.

Advocate Junaid Ahmed answered
Hey! you can try and negotiate with the bank on a good faith basis to grant you an extension of time to repay the overdraft amount. However, please be informed that the bank is under no legal obligation to grant you an extension of time. Further, in order to provide you with better legal advice in this respect, please let me know if the restaurant was mortgaged in favour of the bank in respect of the overdraft facility.