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I helped one of my relatives financially and getting all documentation and legal work done in getting approvals to start a petrol bunk on her name. Initially, before the application was filed to Bharat petrol bunk, we made an MOU and got the franking done in sub-registrar office on 20Rs stamp papers with terms and conditions that she should pay me 51% of profit quartley.

From the facts provided, it emerges that MOU’s were entered into between the parties regarding the capital to be invested and the sharing of profits. For absolute clarity on the issue, the terms and conditions of the MOU’s including the obligations of the respective parties are required to be seen. But from a perusal of the factual narrati...


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A friend of mine, from Punjab, runs an authorized franchise of apparel store in Amritsar. On my visit to his store, he requested me if I can help him locate any places to buy original/duplicate fashion apparel in my city i.e. Delhi. As his authorized distributor purchase products from Delhi and use to charge heavy amount on the same from him. I found a couple of vendors who sell the products he required, and I started helping my friend by purchasing things from Delhi and he use to pay me through cash transfer in my bank account. Am not a professional buyer/nor a businessman.

It emerges that the person in Punjab has no privity with any of the vendors in Delhi directly since the supply of the goods, receipt of the payment etc. was done in your name/bank account. It is understood from the facts stated that the payment for the goods have been made and there was no issue raised by the person at the first instance before making...


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I have to sign a legal document with one of my clients in which it is stated that I should not do any similar business for next two years after termination of service. I am already doing a similar kind of business presently also. Please suggest. the point mentioned by the client is as below:

The said covenant may not strictly be enforceable since the same can be construed as being an agreement in restraint of trade, especially since the same relates to a period after the termination/expiry of the contract under consideration. Such agreements in restraint of trade are not valid under law and therefore cannot be given effect to. The excepti...


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How do I legally remove a director in a private limited company, with his equity shared among other directors?
Procedure for removal of a director of a private limited company:

A Company by ordinary resolution in an Annual general meeting or an extraordinary General meeting can remove a director. Special Notice about the resolution to remove a director shall be issued to the members. A copy of the said notice to be sent to the director to be removed ...


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I helped one of my relatives financially and getting all documentation and legal work done in getting approvals to start a petrol bunk on her name. Initially, before the application was filed to Bharat petrol bunk, we made an MOU and got the franking done in sub-registrar office on 20Rs stamp papers with terms and conditions that she should pay me 51% of profit quartley.

From the facts provided, it emerges that MOU’s were entered into between the parties regarding the capital to be invested and the sharing of profits. For absolute clarity on the issue, the terms and conditions of the MOU’s including the obligations of the respective parties are required to be seen. But from a perusal of the factual narrati...


View answer
A friend of mine, from Punjab, runs an authorized franchise of apparel store in Amritsar. On my visit to his store, he requested me if I can help him locate any places to buy original/duplicate fashion apparel in my city i.e. Delhi. As his authorized distributor purchase products from Delhi and use to charge heavy amount on the same from him. I found a couple of vendors who sell the products he required, and I started helping my friend by purchasing things from Delhi and he use to pay me through cash transfer in my bank account. Am not a professional buyer/nor a businessman.

It emerges that the person in Punjab has no privity with any of the vendors in Delhi directly since the supply of the goods, receipt of the payment etc. was done in your name/bank account. It is understood from the facts stated that the payment for the goods have been made and there was no issue raised by the person at the first instance before making...


View answer
I have to sign a legal document with one of my clients in which it is stated that I should not do any similar business for next two years after termination of service. I am already doing a similar kind of business presently also. Please suggest. the point mentioned by the client is as below:

The said covenant may not strictly be enforceable since the same can be construed as being an agreement in restraint of trade, especially since the same relates to a period after the termination/expiry of the contract under consideration. Such agreements in restraint of trade are not valid under law and therefore cannot be given effect to. The excepti...


View answer

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