- Cover
- Applying Macroeconomics to the Real World
- Title Page
- Contents
- Preface to the Third Edition
- Preface to the Second Edition
- Preface to the First Edition
- About the Author
- Introduction to Constitution of India
- 1 The Indian Contract Act, 1872: Nature and Kind of Contracts
- 1.1 Scope of the Act
- 1.2 What is a Contract?
- 1.3 Essential Elements of Valid Contracts—Section 10
- 1.4 Distinguish between an Agreement and a Contract
- 1.5 Types of Contract or Classification of Contract
- 1.6 Distinguish between Void and Voidable Contract
- 1.7 Distinguish between Void and Illegal Agreement
- 1.8 Similarities between Void and Illegal Agreements
- 2 The Indian Contract Act, 1872: Offer and Acceptance of an Offer
- 2.1 Essential Elements of an Offer (Proposal)
- 2.2 Legal Rules as to Offer
- 2.3 Distinguish between Invitation to Offer and an Offer
- 2.4 Classification of Offers or Kinds of Offers
- 2.5 Distinguish between General Offer and Specific Offer
- 2.6 Lapse of Offer or When Offer Comes to an End
- 2.7 Legal Rules for the Acceptance
- 2.8 General Rules as to Communication of Acceptance
- 2.9 Communication of Offer and Acceptance—Sections 4 and 5
- 3 The Indian Contract Act, 1872: Capacity of Parties and Consideration
- 3.1 Capacity of Parties
- 3.2 Minor
- 3.3 Effect of Minor’s Agreement
- 3.4 Different Position of a Minor
- 3.5 Minor’s Liability for Necessities
- 3.6 Person of Unsound Mind
- 3.7 Person Disqualified by Law
- 3.8 What is Consideration?
- 3.9 Type of Consideration
- 3.10 Essentials of Valid Consideration
- 3.11 Stranger to Contract and Stranger to Consideration
- 3.12 Exception to the Rule of Stranger to Contract
- 3.13 Exception to Rule ‘No Consideration No Contract’—Section 25
- 4 The Indian Contract Act, 1872: Free Consent
- 4.1 Meaning of a Consent—Section 13
- 4.2 Free Consent—Section 14
- 4.3 Coercion
- 4.4 Certain Threats do not Amount to Coercion
- 4.5 Undue Influence
- 4.6 When a Person is Deemed to be in Position to Dominance of will of Others?
- 4.7 Distinguish between Coercion and Undue Influences
- 4.8 Fraud
- 4.9 Essential Elements of Fraud
- 4.10 Exception to the Rule—Silence is not Fraud
- 4.11 Contract of Ubberimae Fidei
- 4.12 Effects of Fraud
- 4.13 Misrepresentation
- 4.14 Essential Elements of Misrepresentation
- 4.15 Distinguish between Fraud and Misrepresentation
- 4.16 Similarities between Fraud and Misrepresentation
- 4.17 Mistake
- 4.18 Distinguish between Unilateral Mistake and Bilateral Mistake
- 5 The Indian Contract Act, 1872: Void Agreement and Contingent Contract
- 5.1 When an Object or a Consideration is Unlawful?—Section 23
- 5.2 An Agreement Opposed to Public Policy
- 5.3 Agreements in Restraint of Trade—Section 27
- 5.4 Agreement in Restraint of Legal Proceedings—Section 28
- 5.5 Agreements Unlawful in Parts
- 5.6 Wagering Agreement—Section 30
- 5.7 Essentials of Wagering Agreement
- 5.8 Effects of Wagering Agreement
- 5.9 Distinguish between a Wagering Agreement and an Insurance Contract
- 5.10 Distinguish between a Wagering Agreement and a Contingent Contract
- 5.11 Illegal Agreement
- 5.12 Contingent Contract—Section 31
- 5.13 Essential Features of Contingent Contract
- 5.14 Rules Regarding Enforcement of Contingent Contract
- 5.15 Uncertain Agreement
- 5.16 Distinguish between a Void Agreement and a Void Contract
- 6 The Indian Contract Act, 1872: Performance of Contract
- 6.1 Essentials of a Valid Tender
- 6.2 Effects of a Valid Tender
- 6.3 Types of Tenders
- 6.4 Contracts which Need not to Perform
- 6.5 Who can Perform Contract?
- 6.6 Performance of Joint Promise—Sections 42–45
- 6.7 Time and Place for Performance of Promise—Sections 46–50
- 6.8 Who can Demand Performance of Promise?
- 6.9 Kinds of Reciprocal Promise
- 6.10 Rules Regarding Performance of Reciprocal Promises
- 6.11 Time is the Essence of a Contract
- 6.12 Appropriation of Payments—Sections 59–61
- 6.13 Assignment and Succession of a Contract
- 7 The Indian Contract Act, 1872: Discharge of a Contract
- 7.1 Discharge of a Contract
- 7.2 Discharge of a Contract on Performance
- 7.3 Discharge of a Contract by a Mutual Agreement or by an Implied Consent
- 7.4 Distinguish between a Novation and an Alteration
- 7.5 Distinguish between a Rescission and an Alteration
- 7.6 Discharge of a Contract by Impossibility of Performance
- 7.7 Specific Grounds of Subsequent Impossibilities
- 7.8 Cases where a Contract is not Discharged on the Ground of Supervening Impossibility
- 7.9 Discharge of a Contract by Lapse of Time
- 7.10 Discharge of a Contract by Operation of Law
- 7.11 Discharge of a Contract by Breach of Contract
- 8 The Indian Contract Act, 1872: Remedies for Breach of Contract and Quasi-contract
- 9 The Indian Contract Act, 1872: Indemnity and Guarantee
- 9.1 Indemnity Contract
- 9.2 Essential Elements of an Indemnity Contract
- 9.3 Right of an Indemnity Holder—Section 125
- 9.4 Guarantee
- 9.5 Essential Elements of Contract of Guarantee
- 9.6 Kinds of Guarantee
- 9.7 Revocation of a Continuing Guarantee
- 9.8 Surety’s Liability—Section 128
- 9.9 Rights of Surety
- 9.10 Discharge of a Surety
- 9.11 Difference between a Contract of Indemnity and a Contract of Guarantee
- 10 The Indian Contract Act, 1872: Bailment and Pledge
- 10.1 What is a Bailment?
- 10.2 Essentials of a Valid Bailment
- 10.3 Types of Bailment
- 10.4 Duties of a Bailee
- 10.5 Duties of a Bailor
- 10.6 Bailee’s Rights
- 10.7 Bailor’s Rights
- 10.8 Termination of a Bailment
- 10.9 Lien
- 10.10 Difference between a General Lien and a Particular Lien
- 10.11 Finder of Goods
- 10.12 Pledge
- 10.13 Rights of a Pawnee
- 10.14 Rights of a Pawnor
- 10.15 Pledge by a Non-Owner
- 10.16 Distinguish between a Bailment and a Pledge
- 11 The Indian Contract Act, 1872: Agency
- 11.1 Contract of Agency
- 11.2 Essentials for a Valid Agency
- 11.3 Test of an Agency
- 11.4 Difference between an Agent and a Servant
- 11.5 Difference between an Agent and an Independent Contractor
- 11.6 Different Kinds of Agents
- 11.7 Mode of Creating an Agency
- 11.8 Requisites of a Valid Ratification—Sections 198–200
- 11.9 Husband and Wife
- 11.10 Extent of an Agent’s Authority
- 11.11 Delegation of Authority by an Agent
- 11.12 Sub-Agent—Section 191
- 11.13 Substituted Agent or Co-Agent—Section 194
- 11.14 Difference between a Sub-Agent and a Substituted Agent
- 11.15 Duties of an Agent
- 11.16 Rights of an Agent 172
- 11.17 Position of a Principal and an Agent in Relation to Third Parties
- 11.18 Principal Relationship where an Agent Contracts for a Named Principal
- 11.19 Principal’s Relation where an Agent Contracts for an Unnamed Principal
- 11.20 Principal’s Relation where an Agent Contracts for an Undisclosed Principal
- 11.21 Personal Liabilies of an Agent
- 11.22 Termination of an Agency
- 11.23 Termination of an Agency by the Act of Parties
- 11.24 Termination of an Agency by the Operation of Law
- 11.25 Irrevocable Agency
- 12 The Partnership Act, 1932 184
- 12.1 Applicability of the Act
- 12.2 Definition of Partnership—Section 4
- 12.3 Essential Characteristics of Partnership
- 12.4 True Test of Partnership
- 12.5 Cases Where No Partnership Exists—Section 6
- 12.6 Distinguish between a Partnership and a Hindu Undivided Family
- 12.7 Distinguish between a Partnership and an Association
- 12.8 Distinguish between a Partnership and a Co-Ownership
- 12.9 Distinguish between a Partnership and a Club
- 12.10 Registration of Firm—Sections 56–71
- 12.11 Registration of Alterations—Sections 60–63
- 12.12 Time for Registration
- 12.13 Effects of Non-Registration—Section 69
- 12.14 Types of Partners
- 12.15 Position of a Minor Partner after Attaining Majority
- 12.16 Who can be a Partner in the Firm?
- 12.17 Rights of a Partner
- 12.18 Partner’s Optional Duties
- 12.19 Partner’s Compulsory Duties
- 12.20 Partnership Property—Section 14
- 12.21 Authority of Partner—Sections 19 and 22
- 12.22 Acts within the Implied Authority of a Partner
- 12.23 Acts Outside the Implied Authority of a Partner
- 12.24 Restriction on an Implied Authority
- 12.25 Liability of a Partner
- 12.26 Partner’s Authority in Emergency
- 12.27 Reconstitution of a Firm
- 12.28 Distinguish between Dissolution of a Partnership and Dissolution of a Firm
- 12.29 Dissolution without the order of Court—Sections 40–43
- 12.30 Dissolution with the order of Court—Section 44
- 12.31 Rights of Partners on Dissolution
- 12.32 Liabilities of Partners on Dissolution
- 12.33 Settlement of Accounts
- 12.34 Garner versus Murray Rule
- 12.35 Mode of Giving a Public notice
- 13 Sales of Goods Act, 1930
- 13.1 Applicability
- 13.2 Definition
- 13.3 Essentials of Valid Sales
- 13.4 Distinguish between a Sale and an Agreement to Sell
- 13.5 Distinguish between a Sale and a Hire–Purchase
- 13.6 Distinguish between a Sale and a Bailment
- 13.7 Contract for Work and Skill
- 13.8 Types of Goods
- 13.9 Price of Goods—Sections 9 and 10
- 13.10 Consequences of Destruction of Specific Goods—Sections 7 and 8
- 13.11 Conditions and Warranties
- 13.12 Implied Conditions
- 13.13 Implied Warranties
- 13.14 Distinguish between a Condition and a Warranty
- 13.15 Doctrine of Caveat Emptor
- 13.16 Transfer of Ownership of Specific Goods—Sections 20–22
- 13.17 Transfer of Ownership in the Case of Unascertained Goods—Sections 18 and 23
- 13.18 Transfer of Ownership in Case of Goods Sale on Approval or on Sale or Return Basis—Section 24
- 13.19 Passing of Risk
- 13.20 Rules Regarding Delivery of Goods—Sections 32–39
- 13.21 Unpaid Seller
- 13.22 Rights of Unpaid Seller
- 13.23 Right of Lien
- 13.24 Right of Stoppage in Transit—Sections 50–52
- 13.25 Right of Resale
- 13.26 Right to withhold Delivery of Goods
- 13.27 Delivery to Carrier
- 13.28 Buyer’s Right Against the Seller or Remedies Against Seller—Sections 55–61
- 13.29 Sale by Non-Owners or Transfer of Title by Non-Owners—Sections 27–30
- 13.30 Auction Sale—Section 64
- 13.31 Delivery of Goods in Contract by Sear Route
- 14 The Negotiable Instrument Act, 1881
- 14.1 Introduction to Negotiable Instruments
- 14.2 Essentials or Characteristics of a Negotiable Instrument
- 14.3 Presumptions as to Negotiable Instruments
- 14.4 Promissory Note—Section 4
- 14.5 Essentials Characteristics of a Promissory Note
- 14.6 Bill of Exchange—Section 5
- 14.7 Difference between Promissory Note and Bill of Exchange
- 14.8 Cheque—Section 7
- 14.9 Difference between Bill of Exchange and Cheque
- 14.10 Difference between Electronic Cheque and Trancated Cheque
- 14.11 Capacity of a Person to be a Party to a Negotiable Instrument
- 14.12 Classification of Negotiable Instruments
- 14.13 Distinguish between Inland and foreign Bills
- 14.14 Incomplete Instrument or Inchoate Instrument—Section 20
- 14.15 Distinguish between Ambiguous Instrument and Inchoate Instrument
- 14.16 Maturity of a Negotiable Instrument—Sections 22–25
- 14.17 A Negotiable Instrument Made without Consideration
- 14.18 Negotiation—Section 14
- 14.19 Endorsement—Sections 15 and 16
- 14.20 Kinds of Endorsements—Sections 16, 50, 52 and 56
- 14.21 Negotiation Back
- 14.22 Distinction between Negotiation and Assignment
- 14.23 Crossing of Cheque
- 14.24 Bouncing or Dishonour of Cheques—Sections 31 and 138
- 14.25 Holder—Section 8
- 14.26 Privileges of a Holder in Due Course
- 14.27 Difference between Holder and Holder in Due Course
- 14.28 Payment in Due Course—Section 10
- 14.29 Protection to Paying Banker—Section 85
- 14.30 Liability/Duty of the Paying Banker and Collecting Banker—Section 129
- 14.31 When Banker Must Refuse to Honour a Customer’s Cheque
- 14.32 Banker may Refuse to Honour a Customer’s Cheque
- 14.33 Effect of Non-Presentment of Cheque within Reasonable Time
- 14.34 Material Alteration—Sections 87–89
- 14.35 Acceptance of Bill
- 14.36 Dishonour by Non-Acceptance
- 14.37 Acceptance for Honour
- 14.38 Payment for Honour
- 14.39 Dishonour by Non-Payment
- 14.40 Notice of Dishonour
- 14.41 Noting and Protesting—Sections 99–104(A)
- 14.42 Drawee in Case of Need
- 14.43 Discharge of a Negotiable Instrument
- 14.44 Discharge of a Party
- 14.45 Hundi
- 15 Consumer Protection Act, 1986
- 15.1 Object of the Act
- 15.2 Extent and Coverage of the Act
- 15.3 Rights of Consumer
- 15.4 Definition
- 15.5 Who can File a Complaint
- 15.6 Redressal Machinery Under the Act
- 15.7 How to File a Complaint
- 15.8 Relief Available to the Consumers
- 15.9 Procedure for Filing the Appeal
- 15.10 Speedy Disposal
- 15.11 Powers of the Dispute Redressal Agencies
- 16 Foreign Exchange Management Act, 1999
- 16.1 Application of Act—Section 1
- 16.2 Fera vs Fema
- 16.3 Definition
- 16.4 Authorized Persons
- 16.5 Current Account Transaction
- 16.6 Export of Goods and Services
- 16.7 Capital Account Transactions—Section 2(E)
- 16.8 Acquisition and Transfer of Immovable Property in India
- 16.9 Acquisition and Transfer of Immovable Property Outside India
- 16.10 Establishment in India of Branch or Office or other Place of Business
- 16.11 Acceptance of the Deposit
- 16.12 Export and Import of Currency
- 16.13 Possession and Retention of foreign Currency
- 16.14 Realization, Repartiation and Surrender of Foreign Exchange
- 16.15 Enforcement Directorate
- 16.16 Departmental Adjudication—Section 16
- 16.17 Compounding of Offence
- 16.18 Liberalized Remittance Scheme for Resident Individuals
- 17 Information Technology Act, 2000
- 17.1 Introduction
- 17.2 Objective of Act
- 17.3 Scope of the Act
- 17.4 Definitions
- 17.5 Digital Signature
- 17.6 Electronic Governance
- 17.7 Digital Signature Certification
- 17.8 Cyber Appellate Tribunal—Section 49
- 17.9 Penalties and Adjudication
- 17.10 Offences
- 17.11 Liability of Body Corporate
- 17.12 Duties of Controllers of Certifying Authority
- 17.13 Duties of the Certifying Authorities
- 17.14 The Duties of a Subscriber
- 17.15 Power of the Central Government to Make Rules—Section 87
- 17.16 Issue not Covered in Information Technology Act
- 17.17 Excluding Liability of Intermediaries—Section 79
- 17.18 National Nodal Agency—Section 70A
- 17.19 Indian Computer Emergency Response Team—Section 70B
- 17.20 Power of a Police Officer and other Officers to Enter, Search, etc.—Section 80
- 18 Companies Act, 2013 : Types of Companies and Their Characteristics
- 18.1 Definition of a Company
- 18.2 The Characteristics of a Company
- 18.3 Body Corporate
- 18.4 Lifting of the Corporate Veil
- 18.5 Illegal Association
- 18.6 Effects of an Illegal Association
- 18.7 Advantages of Incorporation
- 18.8 Definition of a Public Company
- 18.9 Definition of a Private Company
- 18.10 Distinction between Private and Public Company
- 18.11 Limited Liability Companies
- 18.12 Unlimited Liability Company
- 18.13 Conversion of a Private Company into a Public Company
- 18.14 Government Companies
- 18.15 Foreign Company—Section 2(42)
- 18.16 Holding and Subsidiary Companies
- 18.17 Promoter
- 18.18 Legal Position of Promoters
- 18.19 Duties of Promoter of a Company
- 18.20 Preliminary Contracts or Pre-Incorporation Contract
- 18.21 Effects of Pre-Incorporation Contracts
- 18.22 Steps to obtain Certificate of Incorporation
- 18.23 One Person Company
- 18.24 The Features of one Person Company
- 18.25 Terms and Restrictions of one Person Company
- 19 Companies Act, 2013: Memorandum, Articles of Association and Prospectus
- 19.1 Define the Memorandum of Association
- 19.2 Purpose of Memorandum of Association
- 19.3 Provisions Relating to Printing and Signature of Memorandum
- 19.4 Form of Memorandum of Association—Section 4
- 19.5 Contents of the Memorandum of Association—Section 4
- 19.6 Legal Requirements as to the Name Clause
- 19.7 Legal Requirements as to the Registered Office Clause
- 19.8 Display of Registered Office Address
- 19.9 Legal Requirements as to the Objects Clause
- 19.10 Legal Requirements as to the Liability Clause
- 19.11 Capital Clause
- 19.12 Association or Subscription Clause
- 19.13 Provisions for Change in Name Clause of Memorandum of Company or Alteration of Name Clause
- 19.14 Procedure to Change Registered Office from one Place to Another within the Same City
- 19.15 Procedure to Change Registered Office from one City to Another within Jurisdiction of the same Roc within the Same State
- 19.16 Procedure to Change the Registered Office from the Jurisdiction of One Roc to the Jurisdiction of Another Roc within the Same State—Section 12
- 19.17 Procedure to Change the Registered Office from one State to Another
- 19.18 Procedure for Changing the Objects Clause of the Memorandum—Section 13
- 19.19 Alteration of Liability Clause
- 19.20 Doctrine of Ultra Vires
- 19.21 Effects of Ultra Vires Transaction
- 19.22 Articles of Association
- 19.23 Distinguish between Memorandum and Articles of Association
- 19.24 Provision Related to Printing and Signature of Articles
- 19.25 Contents of the Articles of Association
- 19.26 Procedure for the Alteration of Articles of Association—Section 14
- 19.27 Limitations on Alteration of Articles
- 19.28 Binding Effects of Memorandum and Articles of Association
- 19.29 Doctrine of Constructive notice
- 19.30 Doctrine of Indoor Management
- 19.31 Exceptions to the Doctrine of Indoor Management
- 19.32 Prospectus
- 19.33 Circumstances when the Prospectus is not Required to be Issued
- 19.34 Abridged Prospectus—Section 33
- 19.35 Statutory Requirements in Relation to a Prospectus
- 19.36 Red Herring Prospectus—Section 32
- 19.37 The Contents of a Prospectus. Section 26 and Rule 3, 5 of Companies (Prospectus and Allotment of Securities) Rules, 2014
- 19.38 Refusal to Registrar Prospectus by the Registrar of Companies
- 19.39 Shelf Prospectus and Information Memorandum—Section 31
- 19.40 Misstatement in Prospectus
- 19.41 Liability for Misstatement in Prospectus—Section 34–35
- 19.42 Defenses Available to Directors in Case of Misleading Prospectus
- 19.43 Defenses Available to Experts in Case of Misleading Prospectus
- 20 Companies Act, 2013: Share Capital and Transfer of Shares
- 20.1 Share Capital
- 20.2 Nature of Shares
- 20.3 Equity Shares
- 20.4 Preference Shares
- 20.5 Kinds of Preference Shares
- 20.6 Redemption of Redeemable Preference Shares (Section 55)
- 20.7 Equity Shares with Differential Rights or Non-Votingshares—Rule 4 of Companies (Share Capital and Debentures) Rules, 2014
- 20.8 Voting Rights to Shareholders—Section 47
- 20.9 Allotment of Securities
- 20.10 General Provisions for the Allotment of Securities
- 20.11 Mode of Issue of Securities—Section 23
- 20.12 Legal Rules for Allotment—Section 39-40
- 20.13 Return of Allotment—Section 39
- 20.14 Underwriting Agreement—Section 40 (6) Read with Rule 13 of Companies (Prospectus and Allotment of Securities) Rules, 2014
- 20.15 Brokerage
- 20.16 Alteration of Share Capital Clause—Section 61
- 20.17 Reduction of Share Capital—Section 66
- 20.18 Procedure to the Reduction of Share Capital—Section 66
- 20.19 Diminution of Share Capital
- 20.20 Issue of Shares at Premium
- 20.21 Utilisation of Securities Premium Amount—Section 52
- 20.22 Conditions for the Issue of Shares at Discount—Section 53
- 20.23 Stock or Stock Certificate
- 20.24 Distinguish between ‘Share’ and ‘Stock’
- 20.25 forfeiture of Shares
- 20.26 Legal Requirements for forfeiture of Shares
- 20.27 Effect of forfeiture of Shares
- 20.28 Surrender of Shares
- 20.29 Lien on Shares—Rules 9 to 12, Table ‘F’ of Companies Act, 2013
- 20.30 Bonus Shares—Section 63
- 20.31 Pre-Emptive Right or Right Shares—Section 62
- 20.32 Call on Shares
- 20.33 Requisites for Valid Calls
- 20.34 Calls in Arrear
- 20.35 Calls in Advance
- 20.36 Buy-Back of Shares—Section 68
- 20.37 Member
- 20.38 Who can Become a Member of a Company?
- 20.39 Minor as Member of Company
- 20.40 Termination of Membership
- 20.41 Rights of a Member of the Company
- 20.42 Rights of Members as a Group
- 20.43 Transfer of Shares—Sections 56 and 58
- 20.44 Procedure of Transfer—Section 56
- 20.45 Nomination—Section 72
- 20.46 Transmission of Securities
- 20.47 Certificate of Security—Section 56
- 20.48 Distinction between Share and Share Certificate
- 20.49 Duplicate Share Certificate
- 20.50 Debenture
- 20.51 Types of Debenture
- 20.52 Rights of Debenture Holder
- 20.53 Debenture Trustee—Section 71
- 20.54 Functions of Debenture Trustees—Section 71 Read with Rule 18 of Companies (Share Capital and Debentures) Rules, 2014
- 20.55 Provisions for Creation of Debenture Redeption Reserve—Section 71 Read with Rule 18 of Companies (Share Capital and Debentures) Rules, 2014
- 21 Companies Act, 2013: Meeting and Power of Board
- 21.1 Kinds of Company Meetings
- 21.2 Requisites of a Valid Meeting
- 21.3 Different Manner of Serving notice to Members
- 21.4 Provisions Regarding notice of General Meeting
- 21.5 Annual General Meeting (Agm)—Section 96
- 21.6 Report on Agm—Section 121
- 21.7 Notice of Annual General Meeting
- 21.8 Default in Holding an Annual General Meeting—Section 97-99
- 21.9 Usual Business at an Agm—Section 102
- 21.10 Extraordinary General Meeting—Egm—Section 100
- 21.11 Extraordinary General Meeting on Requisition
- 21.12 Eogm by Tribunal—Section 98
- 21.13 Proxy—Section 105
- 21.14 Revocation of Proxy After Appointment
- 21.15 Quorum for General Meeting—Section 103
- 21.16 Chairman of a General Meeting—Section 104
- 21.17 Powers of the Chairman of a General Meeting
- 21.18 Poll—Section 109
- 21.19 Postal Ballot—Section 110
- 21.20 Procedure for Passing Resolution by Postal Ballot
- 21.21 Business Passing Resolution through Postal Ballot
- 21.22 Adjournment of Meeting
- 21.23 Meeting of Debenture Holders
- 21.24 Meeting of Creditors
- 21.25 One-Man Meeting
- 21.26 Motion
- 21.27 Kinds of Resolutions
- 21.28 Resolution Requiring Special notice—Section 115
- 21.29 Minutes of Proceedings of General Meeting—Section 118-119
- 21.30 Meaning of Board of Directors
- 21.31 Powers of the Board of Directors Which can be Exercised at their Meeting—Section 179
- 21.32 Prohibition and Restriction Regarding Political Contributions by Directors—Section 182
- 21.33 Power of the Board to Make Contribution to National Defence Fund—Section 183
- 21.34 Powers that can only be Exercised by the Board of Directors of a Public Company with the Consent of the Company in a General Meeting—Section 180
- 21.35 Prohibition and Restriction Regarding Charitable Fund by Directors—Section 181
- 21.36 Restriction on Non-Cash Transaction Involving Directors—Section 192
- 21.37 Prohibition on forward Dealings in Securties of Company—Section 194
- 21.38 Prohibition on Insider Trading—Section 195
- 21.39 Frequency of Board Meetings—Section 173
- 21.40 Day, Time and Place of Board Meeting
- 21.41 Notice of Board Meeting—Section 173
- 21.42 Content of Board Meeting Notice
- 21.43 Quorum for Board Meeting—Section 174
- 21.44 Matters which cannot be Dealt at Board Meeting through Video Conferencing
- 21.45 Chairman of Board Meeting
- 21.46 Voting at Board Meeting
- 21.47 Minutes of Board Meeting—Section
- 22 Companies Act, 2013: Management of Company
- 22.1 Definition of Director
- 22.2 Disqualification of Director—Section 164
- 22.3 Legal Position of Director
- 22.4 Duties of a Director—Section 166
- 22.5 Appointment of Directors
- 22.6 Appointment of First Directors—Section 152
- 22.7 Appointment of Directors at General Meeting or Directors Retirement by Rotation—Section 152
- 22.8 Deemed Appointment of Retiring Director—Section 152
- 22.9 Appointment of Director other than a Retiring Director—Section 160
- 22.10 Consent of Director with Roc and Company—Section 152
- 22.11 Director Identification Number—Section 153–159 and Rule 9
- 22.12 Appointment of Director by Board of Directors—Section 161
- 22.13 Appointment of Additional Director—Section 161(1)
- 22.14 Filling up Casual Vacancy—Section 161(4)
- 22.15 Alternate Director—Section 161(2)
- 22.16 Nominee Director—Section 161(3)
- 22.17 Who is an Idependent Director?—Section 149(6)
- 22.18 Provisions Relating to Independent Director—Section 149
- 22.19 Minimum and Maximum Number of Directors—Section 149
- 22.20 Small Shareholders’ Directors—Section 151 along with Rule 7 of Companies (Appointment and Qualification of Directors) Rules, 2014
- 22.21 Minimum and Maximum Number of Directors—Section 149(1)
- 22.22 Number of Directorship—Section 165
- 22.23 Vacation of Office of Director—Section 167
- 22.24 Removal of Director by Shareholder—Section 169
- 22.25 Compensation for Loss of Office—Section 202
- 22.26 Resignation by Director—Section 168 and Rule 15-16
- 22.27 Validity of the Acts of the Director Where His Appointment is Invalid—Section 176
- 22.28 Power of Board of Directors
- 22.29 Related Party Transaction—Section 188
- 22.30 Disclosure of Director’s Interest—Section 184
- 22.31 Loan to Directors—Section 185
- 22.32 Managing Director—Section 2(54)
- 22.33 Disqualification of Managing Director or Whole-Time Director or Manager—Section 196
- 22.34 Whole-Time Director—Section 2(94)
- 22.35 Distincton between Managing Director and Whole-Time Director
- 22.36 Manager—Section 2(53) of Companies Act 2013
- 22.37 Distinction between Managing Director and Manager
- 22.38 Appointment of Key Managerial Personnel—Section 203
- 22.39 Managerial Remuneration
- 22.40 Methods of Determination of Remuneration
- 22.41 Overall Limits on Managerial Remuneration
- 22.42 Managerial Remuneration Where the Company Has Profit
- 22.43 Managerial Remuneration Where Company has no Profit or Inadequate Profit
- 22.44 Salient Features of Schedule-V of Companies Act, 2013
- 22.45 Effective Capital
- 23 Payment of Bonus Act, 1965
- 23.1 Introduction
- 23.2 Application of the Act
- 23.3 Act not to Apply to Certain Classes of Employees—Section 32
- 23.4 Definition
- 23.5 Who is Entitled to Bonus?
- 23.6 Disqualification for Bonus—Section 9
- 23.7 Computation of the Number of Working Days
- 23.8 Who is Liable to Pay Bonus?
- 23.9 Payment of Minimum Bonus—Section 10
- 23.10 Payment of Maximum Bonus—Section 11
- 23.11 Calculation of Bonus with Respect to Certain Employees—Section 12
- 23.12 Adjustment of Customary or Interim Bonus—Section 17
- 23.13 Set on and Set off of Allocable Surplus—Section 15
- 23.14 Liability of the New Firm to Pay Bonus—Section 16
- 23.15 Presumptions about the Accuracy of Balance Sheet and Profit and Loss Account of the Company—Section 23
- 23.16 Procedure as Regards the Recovery of Bonus—Section 21
- 21.17 Time Limit for the Payment of Bonus—Section 22
- 23.18 Powers of Inspectors—Section 27
- 23.19 Application of the Act to Establishment in Public Sector—Section 20
- 23.20 Bonus Linked with Production or Productivity—Section 31 A
- 23.21 Power of Exemption—Section 36
- 24 The Payment of Gratuity Act, 1972
- 24.1 What is Gratuity?
- 24.2 Scope of Payment of Gratuity Act, 1972
- 24.3 Definition
- 24.4 Circumstances in Which the Gratuity Becomes Payable
- 24.5 To whom is the Gratuity Payable?
- 24.6 Calculation of the Amount of Gratuity Payable
- 24.7 forfeiture of Gratuity—Section 4(B)
- 24.8 Rules for the Nomination of Gratuity
- 24.9 Rules as to Determination of the Amount of Gratuity
- 24.10 Payment of Gratuity in Case of a Dispute—Section 7(4)
- 24.11 Rules for the Recovery of Gratuity—Section 8
- 24.12 Compulsory Insurance of the Employee
- 24.13 Rules Regarding Appointment of an Inspector under the Act
- 24.14 Powers of Inspectors
- 24.15 Provisions Relating to Penalties—Sections 9–12
- 24.16 Appeal for Payment of Gratuity
- 25 Employees Provident Fund and Miscellaneous Provisions Act, 1952
- 25.1 Basic
- 25.2 Applicability of the Act
- 25.3 Definitions
- 25.4 Central Board—Section 5
- 25.5 Employee’s Pension Fund Scheme—Section 6
- 25.6 Employees’ Pension Scheme—Section 6A
- 25.7 Employees Deposit Link Insurance Scheme—Section 6B
- 25.8 Recovery of Money Due From Employer—Section 8B
- 25.9 Transfer of Accounts—Section 17A
- 25.10 Transfer of Establishment—Section 17B
- 25.11 Protection of Fund of Employee from Attachment—Section 10
- 26 Limited Liability Partnership Act, 2008
- 26.1 Features of LLP
- 26.2 Difference between Partnership and LLP
- 26.3 Difference between Company and LLP
- 26.4 LLP Agreement
- 26.5 Incorporation Document—Section 11
- 26.6 Incorporation by Registration
- 26.7 Partner—Section 5-6
- 26.8 Designated Partner—Section 7–9
- 26.9 Major Duties of a Designated Partner
- 26.10 Registered Office
- 26.11 Name of LLP—Sections 11–21
- 26.12 Name Guideline—Rule 18 of LLP Rules, 2009
- 26.13 Partners and their Relations and Extent of Liability—Sections 22–31
- 26.14 Whistle Blowing—Section 31
- 26.15 Contribution by Partner—Section 32–33
- 26.16 Voting Right
- 26.17 Audit and Financial Disclosures—Section 34–35
- 26.18 Assignment and Transfer of Partnership Rights—Section 42
- 26.19 Investigation—Sections 43–46
- 26.20 foreign LLP—Section 59 and Rule 34
- 26.21 Taxation of LLP
- 26.22 Conversion of Partnership Firm or Private Company or Unlisted Public Company into LLP—Sections 55– 58
- 26.23 Steps for Conversion of Partnership into LLP
- 26.24 Conversion of Private Compnay into LLP
- 26.25 Compromise, Arrangement or Reconstruction of LLPS—Section 60
- 26.26 Winding-Up of LLP—Sections 63 and 64
- 26.27 Advantages of LLP
- 26.28 Disadvantages of LLP
- 27 Employees’ State Insurance Act, 1948
- Index
- Copyright
About the Author
Tejpal Sheth is an associate member of Institute of Company Secretaries of India. He holds an MBA in International Business and Diploma in Pharmacy. Apart from Practising Company Secretary, he is dynamic and well-known educator in the professional stream. He is a visiting faculty in many reputed MBA colleges and professional institutes, ICSI, ICAI, ICWAI, Nirma Institute of Management, BSE Training Institute and Amity Global Business School, for more than 18 years. He has taught innumerable students of CA, CS, CWA, BBA and MBA programme on various topics like business law, mercantile law, corporate law, business ethics and communication. He has served as a member of various committees of Ahmedabad Chapter of ICSI in past. He is on expert panel of calubindia.com.
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