The Companies (Restriction on Number of Layers) Rules, 2017, restrict Indian companies from creating structures with more than two layers of subsidiaries to prevent misuse and ensure transparency. While these rules aim to curb black money and shell companies, they have been criticized for potentiall

Jurisprudence, derived from the Latin term “jurisprudentia,” means the study or knowledge of law. It encompasses various interpretations and philosophies of legal principles. John Austin defined it as the “philosophy of positive law,” focusing on existing laws, while Thomas Erskine Holland viewed it

Jurisprudence is the theoretical study of law, analyzing legal systems, principles, and concepts. Originating from the Latin “jurisprudentia,” meaning “knowledge of the law,” it addresses fundamental questions about the nature, purposes, and relationships of law with morality and society. Rooted in

The Foreign Exchange Management Act (FEMA), enacted in 1999, replaced the Foreign Exchange Regulation Act (FERA) to streamline and liberalize foreign exchange regulations in India. FEMA facilitates external trade and payments, promoting the orderly development of the foreign exchange market. It gran

Unpublished Price Sensitive Information (UPSI) refers to confidential company information not publicly available but capable of significantly impacting stock prices once revealed. Examples include financial results, dividends, mergers, and key management changes. UPSI must be carefully managed to pr

The doctrine of survivorship in Hindu law historically favored male heirs, granting them exclusive rights to inherit ancestral property, while female descendants received nothing. This patriarchal concept was rooted in traditional Hindu law, where coparcenary rights were conferred solely upon male m

H.L.A. Hart’s legal rules theory, outlined in The Concept of Law, distinguishes between primary and secondary rules. Primary rules impose duties, while secondary rules provide the structure for recognizing, changing, and adjudicating these primary rules. Hart’s theory emphasizes the importance of a

This article provides a detailed overview of charges in company law as defined by Section 2(16) of the Companies Act 2013. It explains the concept of a charge, which is a lien on a company’s assets to secure debts, and distinguishes between fixed and floating charges. It covers the characteristics,

Unpaid counsel fees have significant implications for both legal professionals and clients. For lawyers, financial instability can hinder their ability to manage operational costs, take on new cases, and provide high-quality legal services. Clients may face disruptions in legal proceedings and strai

The Indian Parliament, a cornerstone of democracy, convenes in three sessions annually: the Budget Session, Monsoon Session, and Winter Session. These sessions, held at Sansad Bhavan, facilitate legislative business, debates, and discussions on national issues. The President of India calls each sess

In civil suits, a party may change their counsel upon filing a written application to the court, notifying all parties involved. The court may grant such a change after considering the reasons provided and ensuring no undue delay or prejudice to the proceedings. The new counsel must file an appearan

Wagering agreements involve parties betting on uncertain events, risking money based on predictions. Defined by Black’s Law Dictionary as risking money on an unpredictable outcome, these agreements hinge on mutual chances of gain or loss. In India, Section 30 of the Indian Contract Act, 1872, declar

“Time as the essence” in contract law underscores the importance of adhering to agreed-upon deadlines. If a party fails to perform within the specified timeframe, it may result in contract breaches, loss of rights, or termination. Various sections of the Indian Contract Act, 1872, highlight scenario

Freedom of Speech and Expression under Article 19(1)(a) is a fundamental right, considered essential for liberty and the exercise of all other rights. However, Article 19(2) imposes reasonable restrictions to safeguard the sovereignty and integrity of India, security of the State, public order, dece

A quasi-contract is a legal concept where the law imposes duties on a party to prevent unjust enrichment, even in the absence of a formal contract. It arises from voluntary actions leading to obligations akin to those in a contract, ensuring fairness and restitution. Courts can impose quasi-contract

The doctrine of ultra vires, a key principle of corporate law, delineates the boundaries of a company’s powers. This article comprehensively explores this complex legal concept, tracing its historical evolution and analyzing its contemporary relevance. By examining landmark cases and legislative dev

Contingent contracts, defined under Chapter III of the Indian Contract Act, 1872, depend on the occurrence or non-occurrence of a future uncertain event. Key elements include the event’s uncertainty, lack of promisor control, and the presence of a collateral event. Enforceability is outlined in Sect

Specific performance is a court-ordered remedy enforcing contract fulfillment. Unlike monetary damages, it compels the defaulting party to perform their obligations. This article delves into the conditions for obtaining specific performance, including the contract’s validity, the adequacy of damages

This article delves into the concept of condonation of delay under the Limitation Act. It explains how courts can overlook delays in filing cases under specific circumstances. The article discusses the legal provisions, key factors considered by courts, and real-world examples. It highlights the bal

The article explores the legal concept of remoteness of damage in tort law. It examines how courts determine the extent to which a wrongdoer is liable for the consequences of their actions. By tracing the historical development from proximate cause to the modern emphasis on foreseeability, the artic

An offer and an invitation to offer are crucial in contract formation. An offer is a definitive proposal made by one party to another, indicating readiness to form a binding contract upon acceptance. Conversely, an invitation to offer invites negotiations, allowing the other party to make their own

Rescission is a contract law remedy allowing parties to nullify an agreement when its foundation is compromised, often due to fraud, coercion, mistake, or inadequate consideration. This remedy treats the contract as if it never existed, freeing parties from their obligations and restoring them to th

A preamble is an introductory statement in a document that outlines the reasons and intent behind its creation. It sets the stage for the text that follows, providing context and purpose. In legal documents, such as constitutions, the preamble often highlights the fundamental values and goals, servi

Mergers and acquisitions (M&A) are complex transactions involving the combination or purchase of companies. This article explores the intricacies of M&A, differentiating mergers from acquisitions and examining the various types. It delves into the challenges associated with M&A, including cultural i

The law of contract, fundamental to societal cooperation, governs relationships such as those between employers and employees, farmers and merchants, and students and educational institutions. According to Section 2(h) of the Indian Contract Act, 1872, a contract is an agreement enforceable by law.