In light of Union Government’s ‘Make in India’ initiative, and to propel the ease of doing business in India, the Ministry of Law and Justice constituted an expert committee, around the end of January, 2016, to review and suggest amendments to the Specific Relief Act, 1963 (“Act”). The Expert Committee, headed by Mr. Anand... Continue Reading →
Employers undertake various approaches to secure themselves from any harm caused by the acts of their employees. Requiring an employee to execute an indemnity bond, inclusion of negative covenants in the employment agreement and confidentiality clauses is some of the practices generally adopted by employers as measures to protect from employee attrition. Whereas confidentiality clauses... Continue Reading →
Along with traditional agreements the Indian Contract Act, 1872 has also accorded recognition to oral contracts provided they are made by the free consent of parties competent to contract, for a lawful consideration and with a lawful object, and are not expressly declared to be void. Thus, nothing in the Indian Contract Act prohibits the enforceability of electronic agreements if such agreements possess all the essentials of a valid contract.
It is a common perception amongst entrepreneurs and businessmen that inclusion of a clause in any agreement restraining the other party from competing with itself is an effective protection. While no surprise to those initiated in the ways of the law, it comes as a shock to the others when you tell them this is... Continue Reading →