Category Archives: Legal

All about One Person Company

Contributed by: CS Priya Garg* The concept of One Person Company is a  new introduction to the Companies Act 2013 which allows any person to incorporate a company on its own with concessional/relaxed requirements under the Act. Definition of One Person … Continue reading

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Principle of ‘equal pay for equal work’- Judgment of Supreme Court of India in  State of Punjab vs Jagjit Singh

The Supreme Court in a landmark judgment on the principle of equal pay for equal work, in the case of State of Punjab vs. Jagjit Singh, has held that temporary employees would be entitled to draw wages at the minimum … Continue reading

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Beginners’ Guide to Enforcement of Security Interest under SARFAESI Act

The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) enable Banks and Financial Institutions(FIs) to recover defaulted loan from borrowers by adopting measures for recovery or reconstruction. The SARFAESI Act provides three alternative … Continue reading

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The immortal trail of Socrates

Socrates, the Greek philosopher, whose way of life, character, and thought exerted a profound influence on ancient and modern philosophy, was a widely recognised and controversial figure in his native Athens. He is portrayed as a man of great insight, integrity, self-mastery, … Continue reading

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Lease and Licence-Explained and distinguished

Lease and licence are legal modes in which right to enjoy or do something in an immovable property are granted by a person to another person. Both have many similarities and are used interchangeably in the normal course. However, there … Continue reading

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A beginner’s guide to Arbitration

Arbitration is a method of dispute resolution in which disputes are submitted, by agreement of the parties, to one or more arbitrators who make a binding decision on the disputes. In choosing arbitration, the parties opt for a private dispute … Continue reading

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Landmark cases in Contract Law

Contributed by: CA Amit Talada* The Law of Contracts as is applied today has been defined by some classic decisions of English and Indian Courts. Some of these seminal cases, which may seem minor in their actual cause of action, … Continue reading

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Breach of Contract, Liquidated damages and Penalty

Breach of Contract When a party fails or refuses to perform his part of the contract, it amounts to a breach of contract. A breach may take any of the three forms, namely, (a) where a party fails to perform … Continue reading

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Bank Guarantee- Invocation and grant of injunction by Courts

Bank Guarantee Bank guarantee is the backbone of commercial transactions.  It is said that business proceeds on beliefs or judgment of probabilities and not on certainities.  Thus when a commitment is made it must be honoured, otherwise people will lose … Continue reading

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Corporate Debt Restructuring Mechanism-Explained

Corporate Debt Restructuring (CDR) Mechanism was evolved by Reserve Bank of India (RBI), and detailed guidelines were first issued in 2001 for implementation by banks. The CDR Mechanism covers only multiple banking accounts, syndication/ consortium accounts, where all banks and … Continue reading

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