AGM Minutes and legal fees

[Vijay Sarup]

Dear All,

The AGM minutes which we had circulated need to be adopted after considering objections if any raised within 15 days of circulation.

The only email which is addressed to several people is the only one we have recieved from Brig Dharam Prakash with comments from Shaileder Tanwar.

This mail is recieved even before circulation of draft minutes based on rumours they have heard about what is likely to be in the minutes and has no basis in law.Also unsigned e mails have no basis to be entertained.

Accordingly we need to pass the following resolution.

"Resolved that the minutes of the AGM held on ....... be adopted there is no observation on the minutes from any member"

TDS on legal expenses:

Payments made to the lawyer are subject to deduction of TDS. However the lawyer based on advice from his CA had told us that only the portion of "Professional fees" is subject to TDS and not expenditure incurred on our behalf.This is unlikely to be tenable but we did not deduct TDS. The matter then slipped from scrutiny and about six months ago we asked him to give a detailed breakup of professional fees for us to quantify the TDS. He said that a bulk of expenditure is still to be incurred and it would be premature to quantify it.

Today Chairman and I met him and told him that in the absense of such a statement we have no option but to deduct TDS.It was important to resolve this issue in the most amicable manner.

It was decided and agreed that we would deduct the TDS of RS 2.22 lacs from his Pending bills.Bills of Rs 82000 which we had held up will be released.

The final position will be 

                           Conveyance case        Deemed conveyance case

Paid till date	17.30	2.50
TDS paid	0.80	1.42
	18.10	3.92
Agreed value	18.13	5.00
Balance payable	0.03	1.08

The MC agreed with this proposal.

Can we meet tomorrow at 11AM to close these issues please.

Rgds

Vijay