Article 17 of the Constitution
A. ARTICLE 17 OF THE INDIAN CONSTITUTION: Untouchability is abolished and its practice in any form is forbidden. The enforcement of any disability arising out of Untouchability shall be an offence punishable in accordance with law. Explanation: Untouchability is neither defined in the Constitution nor in the Act. It refers to a social practice which […]
Article 16 of the Indian Constitution
A. ARTICLE 16 OF THE INDIAN CONSTITUTION: Article 16 of the Constitution of India, talks about the right of equal opportunity in the matters of public employment. It states that: 1. There shall be equality of opportunity for all citizens in matters relating to employment or appointment to any office under the State, 2. No […]
Article 15 of the Indian Constitution
A. ARTICLE 15 OF THE INDIAN CONSTITUTION: Article 15 of the Constitution of India, 1949 states that: 1. “The State shall not discriminate against any citizen on grounds only of religion, race, caste, sex, place of birth or any of them. 2. No citizen shall, on grounds only of religion, race, caste, sex, place of […]
Article 14 -“Right to Equality”
A. ARTICLE 14- RIGHT TO EQUALITY: The Constitution of India codifies the fundamental rights- the basic human rights of its citizens which are defined in Part III of the Constitution. One such right is the right to equality which is protected under articles 14 to 18. Article 14 is the most significant of the lot. […]
Rupee denominated bond / masala bond: substitute funding route for Indian corporates
A. INTRODUCTION Masala Bond (defined below) is a rupee denominated bond issued by certain Indian entities to the international investors to raise funds in international market. These Masala Bonds are offered to foreign investors who are interested in investing in India. These bonds favors the borrowers as the exchange risk rate is shifted to investors and […]
Legality of Gold Deposit Scheme/Gold Saving Scheme Under the Companies Act, 2013
A. INTRODUCTION: Many of the gold savings schemes offered by the jewellers, are facing closure after the commencement of Companies (Acceptance of Deposit) Rules, 2014, which came into force from 1 April 2014. In this Article we have discussed the legal aspects of such schemes and under what circumstances can such schemes be considered legal. B. DIFFERENT […]
Modes of Closure/Winding Up of a Company Under the Indian Legal System
A. INTRODUCTION: A company may be required to be wound up for various reasons including closure of business, operational losses etc. In this article, we have provided various options available with the Company for closure/winding up and the liabilities of a director upon such closure/winding up of a company. B. VARIOUS MODES OF CLOSURE OF A […]
Benami Transaction: A Curse to Indian economy
A. INTRODUCTION: After the demonetization led by our Hon’ble Prime Minister, Mr. Narendra Modi, the aim of whom was to wash away the black money out of the economy and get it into the licit, banked as well as taxable part of the economy, the next target of our Prime Minister is Benami Properties.The term […]
Willful Default- A Curse to Economic Growth
Recently, Vijay Mallya shifted his base from India to London and news has been filled with news items such as “Vijay Mallya tagged as Willful defaulter”, “PNB Declares UB as Willful Defaulters”. After reading all these headlines, the questions that crop up are: Who is a willful defaulter? In what circumstances the default becomes willful? […]
Bankruptcy Code, 2016 – Features and Analysis
A. BACKGROUND: The strength of economy of a country depends on the strength and efficiency of the financial system, which depends on sound and solvent system of the banking system. While credit growth is one of the drivers of economic growth, Non Performing Assets (NPAs) are a curse to the economic growth of the country. […]
