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Corporate Lawyer

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Mergers: Tool to Survive the Second Wave of Covid19

The term ‘Merger’ is not defined clearly under any enactment. But can be defined as the voluntary amalgamation of two companies on broadly equal terms into one new legal entity. Mergers often lead to an increased value creation for the corporation. It is a way for the corporations to expand their reach, expand into new segments, or gain market share. How does a Merger Work?A merger is a voluntary combining of two companies legally into one legal entity. The companies should have similar sizes, values and customer bases to be a merger and not an acquisition. If both parties expect...

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Legality of Multi-Level Marketing (MLM) & Direct Selling Business in India: Lawyers Advice

With the growth of information technology, businesses also tend to follow the same trend up or down the business cycle. With more and more businesses moving online one area that has seen an exponential growth is Direct Selling. Direct Selling simply means selling of goods directly to the end consumers without the need of any intermediary or middleman. As per the reports of FICCI and KPMG in 2015, INR 75 Billion Market in India was of Direct Selling. There are two ways of Direct Selling: Single Level Marketing (SLM): In single level marketing direct sales are made in person to person...

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Enforcing an International Agreement for Outsourcing of IT Work & Services

Drafts are to be based on considering likely disputes, prevailing situation and laws: -In the case of an offshore outsourcing transaction, the enforcement of customer’s rights and remedies with respect to the agreement has always been a vital concern. In the case of India, it is extremely important that dispute resolution and governing law clauses are perfectly tailored to reflect the nuances of the legal system in India. It may be noted that model form clauses effective in other jurisdictions will not work efficiently in the Indian context. Now since, a party to an agreement related to India containing non-Indian...

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Laws on Data Protection in India: Lawyers Advice

Individual’s Right to privacy and protection enjoys intrinsic status under the Indian Constitution In India, till now we do not have any ‘enforced’ legislation particularly defining data protection and privacy. The Personal Data Protection Bill, 2019 introduced in the Parliament of India in December, 2019 is yet to be enforced. The key objective of the bill is to secure the confidentiality of individual’s personal data and further to establish a full-fledged authority for data protection in India. Well, the inception of this bill can be linked to the historic judgement pronounced by the nine-judge bench of the Hon’ble Supreme Court...

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Legal Challenges in Outsourcing of IT Services & Work

Outsourcing refers to the practice in business where a party is hired from outside the company to perform certain services and creation of goods which were performed in-house by the corporate’s employees and local staffs. It is a basically a measure undertaken by the corporate to cut the cost. Now, in the case of IT-services, we have witnessed an upsurge in the outsourcing process. However, there are some legal limitations and issues acting as an obstacle in outsourcing. It is very important to note that in case an organization or corporate is outsourcing to India, the same needs to be...

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Precautions to be taken before Outsourcing of IT Services & Work

Outsourcing refers to the practice in business where a party is hired from outside the company to perform certain services and creation of goods which were performed in-house by the corporate’s employees and local staffs. It is a basically a measure undertaken by the corporate to cut the cost. Now, in the case of IT-services, we have witnessed an upsurge in the outsourcing process. However, there are some legal limitations and issues acting as an obstacle in outsourcing. Precaution to deal with the Issue of TaxationIn the upcoming paragraphs, we shall discuss the precautions that may be taken to deal...

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Laws for Outsourcing of IT Service & Work

The business entities and firms are nowadays taking advantage of technology for models like offshoring so as to reduce their costs without a without a corresponding decline in quality. However, with the growth and development of technology the problem related to same is also growing by leaps and bounds. Most developed countries in the world, especially the USA are engaged in outsourcing majority of its industrial and trading contracts, offshore to developing countries like India to reap the benefits of cost effective and proficient work force. However, concerns like data confidentiality and security issues have emphasised the necessity for businesses...

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How can an Individual file for Insolvency: Lawyers Advice

The Insolvency Laws of India were introduced by the Britishers and like the other laws, it owes its origin to English Law. The insolvency Laws were divided into two statutes on the ground of geographical division. The first is the Presidency Towns Insolvency Act, 1909 which applies to the presidency towns of Calcutta, Bombay and Madras and the second is the Provincial Insolvency Act, 1920 which applies to the entire territory of India except for these presidency towns. Both the Acts deals with the insolvency process of Individuals and firms. According to the 26th Report of the Law Commission of India,...

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Personal Liabilities of a Director as per the Indian Companies Act of 2013

A company is a legal person that appoints directors as its agents to carry its business. Due to its separate legal entity characteristic, the company itself is responsible for liabilities arising from day to day activities being conducted. Personal liability of a director comes into picture when he/she breaches his/her duties while performing fiduciary activities. What do we man by the Fiduciary Duties of a DirectorDefining fiduciary: The term fiduciary revolves around trust. A person acting as a fiduciary puts the opposite party’s interests above his own and acts in good faith with a bona fide intention. Upon suggestions given...

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