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Prefer an Independent ‘Agreement of Arbitration’

Whether incorporating the ‘Arbitration Clause’ in any ‘Contract Agreement’ is commendable? OR, the Independent ‘Agreement of Arbitration’ is better?...

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Posted Under: Corporate Law |

Establishment of Foreign Business in India

India is currently going through unprecedented growth trajectory. With the coming up of NDA Government in 2014 with optimistic P.M Mr. Narendra Modi, Businesses across the globe is attracted towards India for starting their business here. GoI is implementing initiatives that not only will facilitate investments into India but will also ma...

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Posted Under: Corporate Law |

New Process for Limited Liability Partnership (LLP) Registration

In the wake of successfully initiating Ease of Doing Business (EoDB) reforms by introducing game changing, simplified and integrated procedures viz. SPICe (Simplified Proforma for Incorporating Company electronically), Reserve Unique Name (RUN) for starting a business in India, the Ministry of Corporate Affairs has now launched another ma...

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Posted Under: Corporate Law |

Grading of Promoters under RERA, 2016

Real estate is a industry with wide range of variations based on regional and economic dynamics, which often confuses the consumers on what basis they have to prioritize and invest. On the other end Promoters/developers at times also will not be able to justify their quality of construction, genuinity of legal documents. ...

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Posted Under: Corporate Law |

Draft Law Commission Report on Simultaneous Elections

The Commission was called upon to study the issue regarding holding of simultaneous elections to the House of the People and the State Legislative Assemblies by Department of Legal Affairs, and submit a report to the Government thereupon. While the Commission relentlessly involved itself in detailed research and discussions, a working pap...

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Posted Under: Corporate Law |

Simplified Approach towards Limited Liability Partnership (LLP) Incorporation

Earlier, since January 2018; it was not possible to incorporate a Limited Liability Partnership (LLP) for persons not having DIN but the Ministry of Corporate Affairs has come up with the most awaited notification on 18th September, 2018 w.r.t. LLP incorporation in the same line as a Company vide Limited Liability Partnership (Second Amen...

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Posted Under: Corporate Law |

Resolution vs. Liquidation: The Real Spirit of Insolvency and Bankruptcy Code, 2016

Revival of the stressed company may be the primary objective of the Code, but official data show that more companies have gone for liquidation in the new regime so far than the resolution as lenders have failed to endorse any viable plan for their revival. According to the data available on the IBBI website, till the end of June 2018, tot...

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Posted Under: Corporate Law |

Voluntary Liquidation under Insolvency and Bankruptcy Code, 2016

Introduction  The Provisions of voluntary winding up have been removed from the Companies Act, 2013 and are now governed by the IBC, 2016. Ministry of Corporate Affairs vide notification dated 30th March, 2017 notified Section 59 of the Insolvency and Bankruptcy Code, 2016 which is relating to Voluntary Liquidation of Corporate persons...

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Posted Under: Corporate Law |

Who Can File an Affidavit ? Beware before you swear!

People file affidavits being unaware of what its repercussions might be and also unaware of the fact whether they are at all competent to make the affidavit. Before analysing who can file an affidvit, it is important to understand the duty bestowed upon a person providing affidavit. Even before that let us first understand what an affidav...

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Posted Under: Corporate Law |

Sarfaesi Act: Role & Powers of District / Chief Metropolitan Magistrate

Amendment to SARFAESI Act introduced in 2013 brought out certain changes in the Act wherein under section 14 compulsory filing of an affidavit by the secured creditor through their Authorised Officer with the District Magistrate / Chief Metropolitan Magistrate, as the case may be, to take possession of the secured assets is introduced....

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Posted Under: Corporate Law |