Prevention of Corruption Act, 1988 — Definitions, Special Judges, Offences, Penalties, Fines, and Investigation
The Prevention of Corruption Act, 1988 creates a consolidated framework to criminalize corruption involving public servants and connected private actors, establishes special courts for speedier trials, and prescribes clear investigation, prosecution, and penalty mechanisms. Definitions Special Judges Offences Penalties and fixing of fines Sanction, presumptions, and appeals Investigation authorization and powers Compliance and governance takeaways…
Read article Difference between private limited and public limited company
The key differences between a Private Limited Company and a Public Limited company are tabled below. Particulars Public Limited Company Private Limited Company Minimum Number of share holders A Public limited company requires minimum 7 share- holders. A Private Limited Company requires minimum 2 share- holders. Maximum Number of Share Holders There is no limit…
Read article All -in -one Form INC-29 for registration/ Certificate of Incorporation of new company
The Ministry of Corporate Affairs (MCA) has introduced Form INC-29, for registration and obtaining the certificate of incorporation that lessens paperwork to a large extent. This 8 pages new form is used as an alternate process to do away with the earlier process of filling out several forms separately for allotment of DIN, Name of the company…
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The Legal Services Authorities Act, 1987: Lok Adalats and Their Role in Speedy Justice
The Legal Services Authorities Act, 1987 was enacted with the objective of providing free and competent legal services to weaker sections of society, thereby ensuring access to justice for all. One of the most important mechanisms introduced under this Act is the Lok Adalat system, which promotes alternative dispute resolution to reduce the burden on…
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What are the effects of non-registration of a partnership firm?
Registration of a partnership firm is not compulsory under law. However, the registration gives the firm a legal status. Section 69 makes claims arising out of a contract unenforceable if the firm is unregistered at the date of the institution of the suit. Thus, the major drawback of the non-registered partnership firm is that it…
What are the legal rights of minor as a partner?
Sec 30(1) of partnership Acts 1932 provides that a person who is a minor according to the law to which he is subject may not be a partner in a firm, but, with the consent of all the partners, for the time being, he may be admitted to the benefits of partnership. Under sub-section 30…
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