The Department of Industrial Policy and Promotion (“DIPP”) has vide Press Note No. 1 - 2018 Series (“Press Note 1”) sought to review the extant Foreign Direct Investment (“FDI”) policy on various sectors and has sought to incorporate several amendments to the Consolidated FDI Policy Circular of 2017 as amended from time to time (“FDI Policy”). These amendments will come into effect from the date they have been notified under the... Continue Reading →
Nomination vs Succession
Several controversies have been witnessed in the High Courts of India on the subject of nomination. Black’s Law Dictionary defines “Nomination” as an appointment or designation of a person to fill an office or discharge a duty and “Nominee” as a person who has been nominated or proposed for an office. A nominee is a... Continue Reading →
Section 138 of the Negotiable Instruments Act, 1881
First published on Lawyered.in The term ‘Negotiable’ means ‘transfer by endorsement or delivery’ and the term ‘Instrument’ means ‘any legal document in writing, which is created in favour of any person. Therefore, Negotiable Instruments are written statements implying payment of money, either on demand or within a particular time period with the drawer’s/payer’s name on... Continue Reading →
One person company
First published on Lawyered.in Introduction One Person Company (“OPC”) has been conceptualized by the Ministry of Corporate Affairs (“MCA”) to help fill-in the gap between a proprietorship and a private company set-up and was introduced in India through the Companies Act, 2013 (“Act”). This type of entity encourages an individual to start his own business,... Continue Reading →
Maharashtra RERA Rules, 2017
Government of India has enacted the Real Estate (Regulation and Development) Act 2016 ("Act") and all the sections of the Act shall come into force with effect from May 1, 2017. Under this Act, Government of Maharashtra vide notification dated April 20th, 2017 notified the Maharashtra Real Estate (Regulation Development) (Registration of Real Estate Projects,... Continue Reading →
The Real Estate (Regulation and Development) Act, 2016
The real estate sector is widely unorganized, unregulated and was prone to deception. Since a long time, there has been a dire need to regulate the real estate sector and to establish a law to promote an environment of trust and confidence amongst the purchasers in the real estate sector. For any deficiency of services... Continue Reading →
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