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Significance of Legal Audit: Post Investment Stage

A legal audit is a risk management tool which determines an organization’s compliance with the law and regulations that apply to it. Legal Audit is a quintessential process as it saves the firm from getting sued or fined, or being prosecuted. It is a process which makes sure that that are no deficiencies in the documents, undertakings, or laws followed by the Company. A legal audit is performed on a periodic basis or may be performed in connection with a specific event, such as a financial audit. It can also be performed in connection with a specific transaction, such as...

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Significance of Due Diligence: Pre Investment Stage

Due Diligence is a form of research or investigation conducted by an investor to ensure that the reasonable verifications and precautions are taken to identify or prevent foreseeable risks before they invest their money in the concerned Company or business. Due Diligence is basically a background check on the current status of the Company, the risks associated with it, and also a critical study on the consequences of the business. It is essential for the buyer to determine the genuineness and the legitimacy of the Company and the ownership of its assets and also the existing and potential liabilities...

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Basic Rights of Borrowers: SARFAESI Act of 2002

The Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest (SARFAESI) Act of 2002 was enacted to fight the menace of Non-Performing Assets (NPA), on the basis of the recommendations made by the Andhyarujina Committee. But many experts were of the belief that the act is draconian and completely favours the Banks, Financial Institution and other Non-Banking Financial Institutions (NBFCs) and hence, it is against the principle of equity and natural justice. The constitutionality of the SARFAESI Act of 2002 had been put to question in the landmark case of Mardia Chemicals v Union of India AIR 2004...

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Arrival of Artificial Intelligence (AI) in the Indian Legal System

In order to ease the conduct of the business the world is relying heavily on technology which ranges from mobile applications to computer software’s where in the last decade innovation and technology have assumed a big role. Artificial Intelligence is one such innovation which has impacted the functional ecosystem of the society as “Artificial Intelligence” can be well defined as the capability of a machine to imitate human behavior. Even in the legal sector lawyers are turning towards Artificial Intelligence expertise for handling legal tools efficiently and for structuring legal assertions and gradually Artificial Intelligence is becoming the need of...

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FDI Policy in India: Legal Perspective

Subsequent to the economic liberalisation reforms in the year 1991, the scope of Foreign Direct Investment (FDI) in India has been extended to foster economic development and thus, the Government devices the Indian FDI policy in a manner conducive for international investments. In India, the Foreign Direct Investments (FDI) are covered under the following legislations i.e. Foreign Exchange Management Act (FEMA) of 1999Foreign Exchange Management (Transfer or Issue of a Security by a Person Resident Outside India) Regulations, 2017Competition Act of 2002Companies Act of 2013Reserve Bank of India (RBI) Circulars, Guidelines, Rules & RegulationsGuidelines & Policies issued by the Government of India Further,...

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Medical Negligence in a Nutshell: Indian Legal Framework

The word “negligence” and particularly the term “medical negligence” has been widely heard of, however, the etymology of these words cannot be plainly implied but rather on the contrary have to be studied from the point of view of both law as well as medicine. The term “negligence” means failure to exercise the degree of care expected of a person of ordinary prudence in like circumstances in protecting others from a foreseeable and unreasonable risk of harm in a particular situation. Talking about negligence as per civil law it has often been defined as the breach of legal duty by...

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Indian Startups & their Basic Legal Compliances

India is on a very fast pace of development not only in terms of its GDP but also in terms of its infrastructure and entrepreneurship. The population of the country consists of young and dynamic people who have now boarded on their journey and have been launching and incorporating new businesses which can been referred as “Start-up”. Each Start-up has to fulfill a lot of legal compliances i.e. statutory and non-statutory from the time of its inception and also during its working. The first and foremost requirement before a Start-up is to be clear about the nature and type of...

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Corporate Debt Restructuring (CDR) Mechanism in India

The idea of Corporate Debt Restructuring (CDR) was acquainted with the India when in the year 2001, the Reserve Bank of India (RBI) thought of specific rules to be trailed by banks and other money related organizations. The RBI expressed that the idea of CDR is a non-statutory and intentional procedure where if 75% of the lenders (by esteem) choose to help the organization, the other 25% of the lenders will likewise have the consent to help the organization through the procedure of CDR. The CDR is accessible just to those organizations which have numerous financial balances and has assumed...

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Basics of Corporate Debt Restructuring (CDR) Mechanism in India

The Corporate Debt Restructuring or CDR is a willful procedure under which banks and money related organizations help those organizations, who are confronting budgetary challenges because of inner or outside variables, to rebuild their obligations. It is noteworthy to mention that, Corporate Debt Restructuring or CDR is a non-statutory procedure. The rationale behind this system is to give opportune help to the organizations and restore them. Another thought process is to secure the enthusiasm of the partner, speculators, and different gatherings who are going about as moneylenders to such undertakings. CDR is accessible to those organizations which have profited credit...

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Ten most important factors considered by the Court before the Grant of Anticipatory Bail in India

Anticipatory Bail cannot be claimed by way of a right, however, the grant of Anticipatory Bail is an exclusive power which is vested before the Session’s Court or to the High Court. The Code of Criminal Procedure 1973 (Cr. P.C.) does not define the words “Anticipatory Bail”. The following are the ten most important factors which are duly considered by the Court before the grant of Anticipatory Bail i.e. The nature and gravity of the offence committed by the Applicant who seeks Anticipatory Bail.The previous record of the Applicant who seeks Anticipatory Bail i.e. whether or not he/she is a law abiding...

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