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  • Sep 23, 2019
    The Union Finance Minister Nirmala Sitharaman announced the decision which was taken on the recommendations of a group of ministers headed by her. The Union Government approves the ban on e-cigarettes in India. E-cigarettes E-cigarettes are the vast generic form of Electronic Nicotine Delivery Systems( ENDS). Mainly these are devices which do not burn or use tobacco leaves. In fact, ENDS vaporise a solution using a battery, and this vapour is inhaled by the user. In addition to nicotine various other constituents like propylene glycol, sometimes glycerol and flavouring agents are mixed in that solution. Health Risks WHO says, "It can have adverse effects during pregnancy and may contribute to cardiovascular disease." "Although nicotine itself is not a carcinogen, it may function as a tumour promoter. Nicotine seems involved in fundamental aspects of the biology of malignant diseases, as well as of neuro-degenaration." Law The time the prohibition of Electronic cigarettes - manufacture, productions, import, export, sale, transport, distribution or ads. , ordinance, 2019 comes into force, the following provisions becomes applicable:- Kindly read whole https://shataxiamicuslex.blogspot.com/2019/09/ban-on-e-cigarettes.html
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  • Aug 17, 2019
    A bail is nothing but a tool used for ensuring the existence of accused when required by a court. Criminal Procedure Code CrPC is the main legislation on the procedure for the criminal law administration in India. If broken down simply, Bail is one of the agreements in that an individual makes an accurately written undertaking to court for appearing before it. It is when complying and required with certain conditions mentioned in an agreement. Assurity for paying penalty if she/he fails to obey the conditions and terms of an agreement is taken from the culprit. Crimes that are considered not very serious in nature are known as Bailable offences. Bail is a right and the arrested person must be released after depositing the bail with the police in such cases. The police can grant them bail as they have the power in these types of cases. Even if the bail is granted to a person, it does not mean that the person is free. However, the person remains a suspect and must appear at court for the trial for determining whether the accused is guilty or not. Wherein Non-bailable offences are serious offences where bail is a privilege and only the courts can grant it. A person cannot ask to be released on bail as a matter of right on being arrested and taken into custody a non-bailable crime. The accused gets bail if the police do not complete their investigation within 60 days for a crime that is not punishable with death or life imprisonment. The accused will have the right to bail if the investigation isn’t concluded within 90 days for offences that are punishable with death or life imprisonment.        
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  • Aug 16, 2019
    The body of law which governs business is a branch of civil law that deals both with issues of private law and public law together is called business law. This law regulates corporate contracts, hiring practices, and the manufacture/sales of consumer goods. the danger of crippling litigation goes hand in hand with business. Some of the legal issues faced in business law are mentioned below:   Copyright and Patent Issues: Companies often sit on patents and copyrights for years, hoping that another company inadvertently violates them, to get easy money through patent and copyright lawsuits. This is the most common legal issue found among the business.   Immigration Audits: Do top to down sweep off with the company's staff, using background checks, to identify illegal immigrants with falsified documents degrading the nation’s policies. This issue is not common in India but other big foreign countries. Harassment: sexual, racist and other stereotypical can be a serious problem in an integrated workplace with workers from various ethnic and religious backgrounds and social classes. Regular meetings and interviews with staff will allow your managers to police these transgressions, which should be eliminated quickly through the swift termination of offenders.   These issues can be resolved within the company, without filing the complaints under the business law. But as there are some serious violations of the law and continuous growth in the business, these issues are being filed.  
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  • Jun 08, 2019
    Benefits of Buybacks for the company Buyback gives the impression that a company is doing well financially and thus no longer needs so much equity funding. Instead of carrying the burden of unneeded equity and dividend payments, the company refunds shareholder investments Reduces the cost of capital. A company may want to reduce dilution that is often caused by generous Employee Stock Options. Buybacks reduce the assets on the balance sheet which increases the return on assets which is seen as a positive indicator. It can be a source of finance in future. If a company feels that their shares are undervalued, the can buyback those shares at the deflated price, wait for the markets to correct the share value and then the company can re-issue the bought shares at a higher price.   Benefits of Buybacks for the shareholders Companies generally buyback shares at a higher price than the market price which gives short term investors an opportunity to sell the shares at a far greater capital appreciation and thus making high capital gains. Existing shareholders get a better Earnings Per Share (EPS). EPS is calculated as net income/average outstanding equity shares. Improves price-earnings ratio thus giving shareholders higher return on their investments.   Some Successful Buybacks Infosys (August 2017) In August 2017, the Infosys board approved a proposal for the company to buyback its fully paid-up shares of face value of Rs. 5/- each from the equity shareholders of the company for an amount not exceeding Rs. 13,000 crores. The buyback offer size was 20.51% of the total paid-up equity capital and free reserves of the company as per the audited Balance Sheet of 2017. The buyback offer comprised of a purchase of up to 11,30,43,478 (Eleven crores thirty lacs forty three thousand four hundred and seventy eight) equity shares aggregating up to 4.92% of the paid up equity share capital of the company at a price of Rs. 1,150/- per equity share. This buyback impacted the share price of Infosys on the Bombay Stock Exchange and National Stock Exchange. In August 2017 the share price of Infosys was around Rs. 462 per equity share and today it stands at Rs. 723 per equity shares.   TATA Consultancy Services (June 2018) In June 2018, the Board if TCS approved a buyback of up to 7,61,90,476 (Seven crores sixty-one lacs ninety thousand four hundred and seventy-six) equity shares for an aggregate amount not exceeding Rs. 16,000 crores being 1.99% of the total paid up equity share capital at Rs. 2100 per equity share.   This buyback impacted the share price of TATA Consultancy Services on the Bombay Stock Exchange and the National Stock Exchange. The share value of TCS increased from Rs. 1781 per equity share to Rs. 2255 per equity share today.   HCL Technologies (October 2018) In October 2018, the Board of HCL Technologies approved a buyback of up to 3,63,63,636 (three crores sixty-three lacs sixty-three thousand six hundred and thirty-six) fully paid up equity shares of face value of Rs.2 each equity share, at a price of Rs. 1,100/- per equity share for an aggregate amount of up to Rs. 4,000 crores from all the equity shareholder of equity shares. The opening of the buy-back took place of September 18, 2018 and the closing date of the buy-back was October 3, 2018.
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  • May 30, 2019
    The pendency of cases has been a problem in the judiciary since a long time and this challenge doesn’t seem to be getting any better. In my opinion, the root cause of the problem is division of work and the judges to people ratio. Last year the Former Chief Justice Dipak Misra sounded the alarm on rising pendency and said how the situation is going out of hand with the backlog touching 3.3 crore cases. While 2.84 crore cases are pending in the subordinate courts, the backlog clogging the High Courts and Supreme Court is 43 lakh and 57,987 cases, respectively. According to National Judicial Data Grid (NJDG), the five states which account for the highest pendency are Uttar Pradesh (61.58 lakh), Maharashtra (33.22 lakh), West Bengal (17.59 lakh), Bihar (16.58 lakh) and Gujarat (16.45 lakh).From these statistics we can see that the population of a state does play a role in the pendency of cases as Uttar Pradesh, Maharashtra, Bihar and West Bengal are among the most populated states in the country. It is also to be noted that of all the pending cases, 60% are more than two years old, while 40% are more than five year old. In the Supreme Court, more than 30% of pending cases are more than five years old. 8.3% of all cases pending are over a decade old. Out of the pending cases in India, 83,00,000 cases pending are civil cases and 1,93,00,000 cases are criminal cases as per NJDG.   There is one judge for 73,000 people in India and in Delhi there is one judge for 4,93,000 people. In Delhi each judge has 1450 pending cases. This alarming judges to people ratio does indicate that we don’t have enough judges in India. The judges to people ratio in India is worse than most other countries. Also, looking at the number of pending cases in the country, there is a need to appoint 50 judges per 10,00,000 population. Currently it is only 10 judges. Comparing this ratio to United States where there are 107 judges and England where there are 50 judges, we understand that there is an urgent need for more judges in our country. In the Indian High Court, there is vacancy for 434 judges. So why don’t we have enough judges? The reasons could be that firstly it is not easy to become a judge and there are some eligibility requirements beyond a LLB degree that one needs to become a judge. For example, to become a Judge in the High Court, a person should have held a Judicial Office in India for 10 years or has experience of 10 years of practice as an advocate in a High Court or of two or more such courts in succession. Due to such reason, it is very difficult to find the right talent pool of judges. Another reason is the low motivation. There is no denying that money is a motivation for many and judges are just not paid in par with corporate lawyers and some litigation lawyers who earn lakhs per hearing. Last year we saw a salary hike from 1 lakh rupees a month to 2.5 lakh rupees a month for Supreme Court judges. This should be able to bring a positive change.   Some other reasons for the large backlog could be Increasing number of state and central laws Mounting number of appeals Delay in hearing of cases of common civil rights in High Courts Appeals in High Courts against orders of the quasi-judicial bodies Petition for revision and appeal in cases Continuous adjournment Indiscriminate utilisation of writ rights Inadequate system for monitoring cases Difficulties in tracking trials Lack of infrastructure in courts   Here are some of the solutions that I propose apart from the obvious increase in number of judges. Firstly there needs to be an increase awareness about the different dispute settlement options and such should be encouraged. Secondly, we need separate tribunals for some of the civil matters such as a traffic court that looks into only traffic violations like how it is done in United States. Lastly, end to end of the case need not be handled by the courts alone. Initial part of the process like filling of the documentation, can be outsourced to a pre-qualified legal agencies and court can take up only arguments and judgement and we can start thinking in this direction.     But again, for this to be implemented we would require better facilities and infrastructure. Without the right infrastructure and facilities, being able to resolve the challenge of pending cases will only get difficult.
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