What is Import?

The meaning of import is an activity of purchasing and entering goods / services or commodities from abroad into the country legally through the trade process. Another opinion says the meaning of import is an international trade activity by entering goods into the Indonesian customs territory carried out by companies or individuals engaged in export-import...

Source of Muslim Law

The Quran (Koran) The Quran is considered by the Muslims as the basis of their law. Every word of the Qur'an is regarded as being the Direct utterance of the Almighty, communicated in his actual words by the angel Gabriel to the Prophet. The prophet recited the words as divinely inspired. These sayings were not...

What is Unfair Trade Practice?

Generally unfair trade practices may include illegally refusing any transaction, deceptively soliciting customers, disrupting business activities of the rivals unfairly, unfairly excluding competitors. In the new corporate and business world today where there is cut throat competition the business persons daringly use unfair trade practices to edge over the other. This may give them advantage...

What are Anti-Competitive Agreement?

The ideal market is the one in which various market participants are independent and act as competitive restrain on each other. This economic liberty of market participants is sine qua non for preserving free and unfettered competition in any market. Some time the market participants with an objective to make more money instead of competing...

ANALYSIS ON SOURCES OF HINDU LAW

The phrase “source of law” has several connotations. It may be the authority which issues rules of conduct which are recognized by Courts as binding. In this context, ‘source of law’ means ‘the maker of law’. It may mean the social conditions which inspires the making of law for the governance of the conditions. In...

What are Tie in Agreements?

A tie in arrangement by its very name seems to refer to an agreement or a system whereby thereis some additional condition which is tied to the primary object. Tie-in agreement includes any arrangement requiring a purchaser of goods as a requirement of such purchase to purchase some other kinds of goods. It is also...

Person Resident in India:

It becomes essential to know the definition of resident person in India for multiple purposes. FEMA makes clear distinction between resident and non-resident. As per section 2(u) of FEMA,  ‘Person’ includes an individual, HUF, company, firm, an association of persons and any agency, office or branch owned or controlled by such person. A person resident...

What is domicile of a person?

The term domicile is not defined in the Act. The domicile of a person is the place where he has his true, fixed, permanent home and establishment go which he intends returning. Every person must at all times. Possess a domicile  Two things are therefore essential to constitute domicile. 1) Residence and 2) An intention...

What are Bid ridding Agreements in India?

Bid rigging is an illegal practice in which competing parties collude to determine the winner of a bidding process. Bid rigging is a form of anticompetitive collusion and is an act of market manipulation; when bidders coordinate, it undermines the bidding process and can result in a rigged price that is higher than what might...

What is Special Economic Zone (SEZ)?

A special economic zone (SEZ) is an area in which the business and trade laws are different from the rest of the country. SEZs are located within a country's national borders. Their aims include increased trade balance, employment, increased investment, job creation and effective administration. To encourage businesses to set up in the zone, financial...

Shelter Homes:

‘Home’ Homelessness is one of the most pressing social problems today. A shelter home is a place to take refuge or a temporary arrangement if you are in urgent need or emergency. People who are vulnerable or homeless or are in an emergency situation, they can approach their nearest shelter homes. Governments have recognised organisations...

Right to Protest Vs Right to Mobility.

This is not the first time we have seen the “Right to Protest” on the forefront. Several demonstrations in the past have led to many changes to the constitution. For instance, Bengal Partition, the satyagraha, Non cooperation movement, Quite India Movement, 1920 Jawaharlal Nehru gave call of Purna Swaraj. Democracy and Dissent go hand in...

Who is a consumer under consumer protection act?

On July 20th, 2020, the new Consumer Protection Act, 2019 came into force in India, replacing the previous enactment of 1986. Some of the highlights are regarding e-filing of consumer complaint. No fees is required if  the claim is within Rupees 5 lakhs. A consumer can conduct her own case via video conferencing. Engaging a...

ENVIRONMENT IMPACT ASSESSMENT IN INDIA

Environment Impact Assessment or EIA can be defined as the study to predict the effect of a proposed activity/project on the environment. A decision making tool, EIA compares various alternatives for a project and seeks to identify the one which represents the best combination of economic and environmental costs and benefits. AIM OF EIA: It...

Foreign Exchange:

Foreign exchange or forex, is the conversion of one country's currency into another. In a free economy, a country's currency is valued according to the laws of supply and demand. In other words, a currency's value can be pegged to another country's currency, such as the U.S. dollar, or even to a basket of currencies....

My experience of Online Classes

No one ever thought that schools and colleges can be conducted online. Work from home was still an option but never imagined in my widest dreams that classes can be conducted online. The outbreak of coronavirus disease is a form of pandemic which spread all over the world. So, the lockdown has been implemented worldwide...

Venture Capital Fund

Venture capital funds are pooled investment funds that manage the money of investors who seek private equity stakes in startups and small- to medium-sized enterprises with strong growth potential. These investments are generally characterized as very high-risk/high-return opportunities. In the past, venture capital (VC) investments were only accessible to professional venture capitalists, but now accredited...

What is Foreign Trade Policy?

The Foreign Trade Policy (FTP) was introduced by the Government to grow the Indian export of goods and services, generating employment and increasing value addition in the country. The Government, through the implementation of the policy, seeks to develop the manufacturing and service sectors. Primary Focus Areas: The Government, through the policy, primarily focuses on...

Attestation and Revocation of Will:

Will is a legal declaration of the intention of a testator with respect to his property, which he desires to be carried into effect after his death. It includes codicil and every writing making a voluntary posthumous disposition of property. It is testamentary instrument by which a person makes disposition of his property to take...

Why do we need competition in the market?

Competition is an inevitable part of the business world for businesses of any size. It is not a necessary evil, but rather an important part of the business ecosystem. In fact, competition can be an effective tool for growing and improving your business. Competition policy is about applying rules to make sure businesses and companies...