20 March

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Legit Trading of Cryptocurrency in India

in Business Laws, Corporate, Corporate Lawyer, STARTUPS IN INDIA, Uncategorized

Until recently, “Cryptocurrency” was neither recognised nor regulated by the entities of the Reserve Bank of India (RBI), which meant that Banks and other financial institutions did not consider “cryptocurrency” as a medium of exchange. Although, private players of cryptocurrency did operate in India, yet there was no security or protection from the Reserve Bank of India (RBI) or its entities. The same was challenged before the Hon’ble Supreme Court of India and the Court dismissed the Reserve Bank of India circular and legalised the trading on Cryptocurrency in India, since it failed the test of proportionality under Article 19(6)...

20 March

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Mining of Cryptocurrency Legal in India: Law Check

Posted by MyLawyer

in Business Laws, Corporate, Corporate Lawyer, STARTUPS IN INDIA, Uncategorized

Similar to normal/tangible currency, cryptocurrency is a virtual/digital currency that uses cryptography to conduct transactions. A very popular example of the same would be Bitcoin, which was invented in 2009. The Reserve Bank of India (RBI) issued a “Statement on Developmental and Regulatory Policies” on April 5, 2018 which directed the entities regulated by the Reserve Bank of India (RBI) to: a) Not deal with or provide services to individuals or businesses/corporates dealing with Virtual Currencies (VCs) and, b) Exit the relationship, if they have one with businesses/corporates and/or individuals dealing in Virtual Currencies...

19 March

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Pre-Requisites of a Bail Application

Posted by MyLawyer

in Criminal Law, Criminal lawyer, High Court, Supreme Court, Uncategorized

Every individual citizen of India has a fundamental right to get freedom guaranteed under Article 21 of the Indian Constitution, which states “No individual shall be deprived of his life except according to the procedure established by law”. Further, bail refers to the release of a person from legal custody on deposit of security and undertaking that he/she shall appear at the time and place designated and submit himself to the jurisdiction and judgement of the Court. However, the basis of bail lies in the principle that there is a presumption of innocence of a person until he is found...

19 March

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Settlement Deed & Transfer of Property by a Non Resident Indian (NRI)

Posted by MyLawyer

in Legal Advice, Non Resident Indian NRI, Real Estate Laws, Transfer of Property Laws, Uncategorized

A Non Resident Indian (NRI) who have left India and/or are either staying abroad or have obtained the citizenship of a foreign country have their immovable properties and/or real estate in India. The said immovable properties or estates are in the form of either a joint ancestral property (which is being inherited) and self-acquired properties (which is/are self-purchased or self-owned) respectively. In case of the self-purchased/self-owned properties there exists no problem with respect to any share and/or partition as the same is the absolute property of the person or the Non Resident Indian (NRI) in the present case whereas when the...

19 March

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Guidelines of Ministry of Consumer Affairs for Multi-Level Marketing (MLM) Companies in India

Posted by MyLawyer

in Business Laws, Corporate, Corporate Lawyer, Legal Advisor, Uncategorized

Multi-Level Marketing (MLM) is a business model which has been in the news for its notoriety. Although, at present there is/are no specific legislation and/or law for regulating the same yet there are certain guidelines which have been formulated by the Government of India and makes an efforts to make the business legit or legal in India. The Government of India has issued an advisory to all the State Governments including the Union Territories on moral guidelines on direct selling under the Ministry of Consumer Affairs under its Food & Public Distribution Department of Consumer Affairs. These guidelines are based...

19 March

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Multi-Level Marketing (MLM) in India: Legality Check

Posted by MyLawyer

in Business Laws, Corporate Lawyer, Government of India, Legal Advice, Uncategorized

Multi-Level Marketing (MLM) is a business model which has remained in a grey area and is yet to see a legislation or a law enacted clearing the air on the legitimacy of the Multi-Level Marketing (MLM) business and industry as a whole. Having said that, on Sept. 9, 2016 an office memorandum for advisory to all the State Government and Union Territories on “Model Guidelines on Direct Marketing” was issued by the Ministry of Consumer Affairs, Food and Public Distribution Department of Consumer Affairs under the Government of India. The same can be termed as a first step taken forward...

13 March

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Execution of Documents for the Transfer of Property in India by a Non Resident Indians (NRI)

Posted by MyLawyer

in Legal Advice, Non Resident Indian NRI, Real Estate Laws, Transfer of Property Laws, Uncategorized

The laws relating to sale and transfer of property i.e. immovable property or the real estate are very clear, however, the Non Resident Indians (NRI) who are not residing in India and are staying abroad find it difficult to understand the Property Laws or the Real Estate Laws of India and execute necessary documents with respect to the sale and transfer of their property which includes a fractional transfer of share. Transfer of Property as Gift or by Relinquishment way of Love & Affection which generally happens between the legal heirs including the agnates and cognates:The transfer of property under this...

13 March

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Legal Steps for the Eviction of Tenant by a Non Resident Indians (NRI)

Posted by MyLawyer

in Legal Advice, Non Resident Indian NRI, Real Estate Laws, Transfer of Property Laws, Uncategorized

The laws relating to the Rent & Tenancy varies from State to State and every State in India has their own laws with respect to Rental & Tenancy of properties.Five Step guide for the Eviction of Rowdy & Unruly Tenants which can be undertaken by the Non Resident Indians (NRIs) in order to get their properties vacated in India are: Step-1: Sending Legal Notice to the Tenant for the Eviction of the Property- The landlord i.e. the Non Resident Indian (NRI) can send a legal notice to the Tenant whereby he can demand the vacation of the tenanted premises and...

12 March

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Justifiable Reasons for the Eviction of Tenant by a Non Resident Indians (NRI)

Posted by MyLawyer

in Legal Advice, Non Resident Indian NRI, Real Estate Laws, Transfer of Property Laws, Uncategorized

According to the Indian Rent laws, the rights of a landlord in India permit the landlords to evict their tenants provided there is a legitimate and justified reason for such an action. Many Indian states have declared the lawful basis of eviction for tenants in India. Furthermore, the laws relating to the Rent & Tenancy varies from State to State and every State in India has their own laws with respect to Rental & Tenancy of properties. It is often easy to find a tenant in India and this is one of the most convenient ways for the Non...

12 March

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Non Resident Indians (NRI) & Partition of their Ancestral Property in India

Posted by MyLawyer

in Legal Advisor, Non Resident Indian NRI, Real Estate Laws, Transfer of Property Laws, Uncategorized

A Non Resident Indians (NRI) who have left India and/or are either staying abroad or have obtained the citizenship of a foreign country have their immovable properties and/or real estate in India and the same can be in the form of ancestral property which a person inherits. “Partition” is a process by which ownership of property among the family members is managed. When there is/are more than one owner of a property, it is known as “joint property”. Joint ownership in the property creates many problems to the owners of the property and for the Non Resident Indians (NRI) it...

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