aneeshmuraleedhar (PRACTICING IN HIGH COURT OF KERALA) (32 Points)
02 April 2010A PVT Ltd company want 2cr rupees for undertaking a new project. one person give an offer to invest that amount. But he wants 50% profit arising out of that project. is it legally feasible to enter into an agreement with this condition?
Pradeep Sharma
(student)
(114 Points)
Replied 04 April 2010
Dear sir
You cant enter with this type of contract with any body.
tell me that if you have accpeted this propasal then how will you show in your books of accounts, how will you pass a resolution in the AGM, how will you satisified the ROC on this matters
CS Jithesh (ACS,)
(COMPANY SECRETARY )
(485 Points)
Replied 09 April 2010
Legally it is acceptable to get into an agreement with any person, provided such business is not illegal.
As long as you are having a Contact or Agreement I don't think much problem is arising
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