Understanding the Concept of Cheque Bounce in India
Cheque bounces are considered as a Criminal offence in India .In this age of Internet where Internet Banking and Mobile Banking are used for Transferring Funds , there is a large section of population that prefers cheques .Dr . Gubbi Subba Rao explains the Dishonour of Cheque and Presumption in favor of the holder mentioned under sections 138 and 139 of the Negotiable Instruments Act , 1881. He also gives an exceptional view of Section 420 of the Indian Penal Code under which the punishment for Cheating has been provided according to which the person shall be punished with imprisonment of either description for a term which may extend to 7 years, and shall also be liable to fine .
Alternate Market Commission - A Boost for Startup Ecosystem
Bhumesh Verma, Managing partner and Soumya Shekhar, Associate Introduction Startup eco-system carries vast potential for economic activity and revenue generation in India. It has the knack to change the dynamics of the Indian economy to a large extent. To make it happen, however is hugely dependent on proper monitoring coupled with timely measures to support the startup fraternity by providing appropriate incentives. Last few years, Indian government has been beating its trumpet of having created and facilitated the Startup eco-system.
DELHI Government to Set up Police Complaint Authority to Hear Complaints Against Police Misconduct
DELHI Government to Set up Police Complaint Authority to Hear Complaints Against Police Misconduct Following the Supreme Court directions, the Delhi Government plans to set up a Police Complaint Authority (PCA) to hear complaints of extortion, harassment, abuse, unlawful detention or arrest by the Delhi Police. The panel will consist of a Chairperson appointed by the Lieutenant Governor of Delhi. For the other members the Delhi Government has recently invited applications for three posts to be filled up. The Chief Justice of the Delhi High Court has also proposed a panel of names for the position of the chairman. The other members of the PCA include a retired IAS officer, a former IPS officer and a person of repute from the civil society.
The Draft National Digital Communications Policy, 2018
An analysis by Corp Comm Legal Bhumesh Verma, Managing partner and Soumya Shekhar, Associate Introduction The Department of Telecommunications has released the draft National Digital Communications Policy (“Digital Policy”) on 1 st May 2018, inviting public comments on the same. This new Digital Policy seeks to regulate not only the telecom sector but also devise new ways of improving digital communication across the country. The policy aims at creating and sustaining a sound digital infrastructure in the country.
All You Need to Know About ANGEL TAX
The longstanding request of the angel investors to exempt them from the ambit of “Angel Tax’ provision has finally turned into a reality. This was a bane particularly for the startup ecosystem growth. The Central Board of Direct Taxes (CBDT) has issued a notification dated May 24, 2018 exempting angel investors from the ‘Angel Tax’ ambit subject to the terms and conditions as specified by the Department of Industrial Policy and Procedure (DIPP).which is a boon to startup fraternity and will significantly boost the development prospects of the startup fraternity.
How Partnership Clarity in the Early-Stages Increases your Immunity
Author: Diksha Singh What is a 'Partnership'? A partnership is an agreement in which two or more parties are involved in the management and operation of the business.
Proposed Amendments To The Specific Relief Act, 1963 - Impact Analysis
The underlying objective of the parties behind entering into any contract is the performance of their respective parts. If for any reason this performance fails, courts tend to award damages in order to put the affected party back to his original position. However, if for any reason damages are an inadequate remedy or it is not possible to award compensation, then a relief of specific performance may be awarded to the affected party at the discretion of the court. We have a codified enactment dealing with issue, i.e., the Specific Relief Act, 1963 (“SRA”) governing this aspect.
How to Protect Intellectual Property - Strategy for Startups
>Introduction Intellectual property protection should be one of the foremost concerns of a nascently set up entity, particularly a startup. Intellectual property refers to innovative creations arising out of one’s or a team’s intellectual exercise. It includes not only innovative products and processes but also logos and images. Some key intellectual property rights are:
Sexual Offences Against Children & Its Penalties
Author: Diksha Singh The Protection of Children from Sexual Offences Act (POCSO Act) 2012 was enacted to prevent children from sexual abuse and sexual exploitation. This Act of parliament received the President assent on 19th June 2012. Any person who is below the age of 18 years is considered to be a Child and will get protection under this Act.
P2P Lending - RBI's Stance on Peer-to-Peer Lending Platform
The release of the Master Directions on Non-Banking Financial Company – Peer to Peer Lending Platform (Reserve Bank) Directions, 2017 (“ Master Directions ”) was a decision anticipated since April 2016 when the Reserve Bank of India (“ RBI ”) issued a Consultation Paper on Peer to Peer (“ P2P ”) lending (“ Consultation Paper ”). The Consultation Paper contained various arguments against and in favour of regulating the P2P lending sector. Thereafter, on August 24, 2017, as a precursor to the ultimate regulations, the RBI issued a gazette notification classifying entities providing the ‘business of a peer to peer lending platform’ as a Non-Banking Financial Company (“ NBFC ”). The Notification assumes significance since the classification of a P2P lending platform as an NBFC brings such a platform within the RBI’s regulatory ambit. The broad points under the Consultation Paper have now been crystallised under the Master Directions released by the RBI on October 04, 2017. 1.
What Are The Mandatory and Regulatory Compliance's For a Business?
Author: Neelam Vats and Associate Priya Singh To operate any business legally in the country, there are certain requirements which the company have to fulfill. These can be related to the business transaction, labor practices, and safety precautions. Before starting the company or business complete study of the regulation and requirement of the industry is done so that they can know about the essential compliance. The compliance is divided into two categories:
Largest M&A Deal- Walmart Takes over Flipkart
Author: Advocate Dhruv Berry and Associate Abhishek Jha Walmart Inc is an American multinational retail company, the largest in the world by revenue and strives to grow more by giving a cut-throat competition to its peer and one of the biggest rival company is Amazon. Due to its expertise in retail market and a strong supply chain management and a commitment to deliver the quality at the lowest possible price Walmart acts as a silent killer for all the small retailers; and to grow further primarily to enter in the online retail alike the Amazon in Indian market it has invoked various possible way and came out with the acquisition of Flipkart, which is having the largest share of Indian retail market around 31.9% chased by Amazon at 31.1%. One of the largest deal, probably in the world is the Buyout of Flipkart by Walmart. the deal stuck at the investment of US $ 16 Billion out of which 12.5% i.e. NITI Aayog Vice Chairman Rajiv Kumar said “It will have a very positive impact.
