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Can a foreign company and its subsidiary in India have a common Indian resident Director ? If yes, is there any cons regarding taxation etc.

Any company registered in India must have at least one resident Indian as a direcors.

Yes, a subsidiary in India can have a director (Resident Indian or otherwise) common with the parent entity. 

In case, the Indian entity is either billing or making a payment to the parent entity, Transfer Pricing (along with its compliances) wil...


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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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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
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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