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Article On Duties, Responsibilities And Liabilities Of Director Though a company is a legal entity in the eyes of the law, it cannot act as a natural person. It must act through a human agency and the control of its management and exercise of its powers must necessarily be delegated. The persons to whom the delegation is made are referred to as 'directors' which expression is simply used to denote the Board of Directors of the company acting as a body. Sec 253 of the Companies’ Act provides that no body corporate, association or firm shall be appointed director of any company, and only an individual shall be so appointed. Read More...

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Basics of Due Diligence The practice of undertaking a formal due diligence investigation is of comparatively recent origin in India and was mainly imported as a process by foreign investors/their legal and financial advisors after the economic liberalisation reforms of 1991. Read More...

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Corporate Compliance Management Compliance means conforming to stated requirements. At an organisational level, it is achieved through management processes which identify the applicable requirements (defined, for example, in laws, regulations, contracts, strategies and policies), assess the state of compliance, assess the risks and potential costs of non-compliance against the projected expenses to achieve compliance, and hence prioritize, fund and initiate any corrective actions deemed necessary. Read More...

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Corporate Restructuring Corporate Restructuring is the process of redesigning one or more aspects of a company. The process of reorganizing a company may be implemented due to a number of different factors, such as positioning the company to be more competitive, surviving a currently adverse economic climate, or acting on the self-confidence of the corporation to move in an entirely new direction. Read More...

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Corporate Social Responsibility Corporate Social Responsibility (CSR) is a form of corporate self-regulation integrated into a business model. In other words, CSR is about how companies manage the business processes to produce an overall positive impact on society. It is becoming an increasingly important activity to businesses, nationally and internationally. Read More...

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Dishonouring of a Cheque A cheque is a type of bill of exchange and is a negotiable instrument. It is used for making payments without any need to carry cash. A Dishonoured Cheque is a Cheque that is not credited by the Bank for numerous reasons including: The signature does not match; the account on which the cheque is drawn has insufficient funds, the date is invalid – i.e. the presentation of the cheque 6 months from the date on the cheque. Read More...

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Importance Of Contract Management Contracts form the foundation of all business relationships. But with a growing number of contracts, an increasing complexity and the ongoing need for amendments, it becomes challenging to manage the valuable information in the contracts. Contract management is the process that enables both parties to a contract to meet their obligations in order to deliver the objectives required from the contract. Read More...

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Importance of Outsourcing for Business Growth Outsourcing can be defined as the system of collaborating with an external organization and assigning that organization to carry out some of your business roles. Outsourcing gives organizations access to high-quality services at lower operating costs. The outsourcing industry has been extensively researched in the past decade. Over the past five years, a new form of outsourcing has become popular and promises, as BPO once did, huge growth and profit potential. Read More...

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Independent Director The concept of “independent directors” is new to India. It was first brought to India by the 1999 Kumar Mangalam Birla committee on corporate governance. Three years later, the Naresh Chandra committee gave governance more thought. Finally, in 2004 the Narayana Murthy Committee affected changes to Clause 49 of the listing agreement. Read More...

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Internet Domain Names Protection A domain name is an identification label that defines a realm of administrative autonomy, authority or control on the Internet. Domain names are host names that identify Internet Protocol (IP) resources such as web sites. Domain names are formed by the rules and procedures of the Domain Name System (DNS). Read More...

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Legal Process Outsourcing Legal Process Outsourcing has its roots in KPO (Knowledge Process Outsourcing). In India, LPO started as low-end work, mainly based on transcription. Gradually, LPO has started dealing with high-end knowledge-intensive work as well. Legal work, from advising clients, patent application research drafting, legal, pre-litigation documentation, analysing drafted documents, writing software licensing agreements to drafting distribution agreement, is being outsourced to India. Read More...

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Money Laundering The term 'money-laundering' is typically used to refer to any financial transaction that was meant to be kept secret, but was eventually found out. In many cases it refers to the process of concealing a source of money which is often obtained by illegal means such as drug trafficking, health-care fraud and smuggling, to name a few. Various laundering techniques can be used by individuals, groups, officials, and corporations. Read More...

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The Importance of Intellectual Property Due Diligence Intellectual property is an intangible creation of the human mind, usually expressed or translated into a tangible form that is assigned certain rights of property. Most creations, resulting from human endeavours in the various fields of art, literature, science and technology, constitute Intellectual Property. Intellectual Property rights are a bundle of exclusive rights over creations of the mind, both artistic and commercial. Read More...

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Transfer Pricing In India A transfer price is what one part of a company charges another part of the same company for goods or services. It is a mechanism for distributing revenue between different divisions which jointly develop, manufacture and market products and services. Transfer pricing refers to the setting, analysis, documentation, and adjustment of charges made between related parties for goods, services or the use of property (including intangible property). Read More...

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Types of Business Structures in India You have always had a great business plan and, today, you also have the necessary resources to fulfil your dream of setting it up. But, knowingly or unknowingly, there will always be minor or major hurdles in your way. We, at eSupport, have specialised knowledge in assisting you to overcome these obstacles and to ensure a smooth and successful journey for you. If you are ensure about your legal obligations or require research into your entity-type options, let us try to answer your queries and provide you with the information you need right here. Read More...

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What are Intellectual Properties? The term ‘intellectual property’ or IPR normally relates to all intangible properties which are intellectual in nature. These are the creations of the human mind and human intellect. IPR is very similar to property rights vested in movable and immovable properties. Intellectual properties, like any other assets, are characterised by certain rights as well as limitations. Intellectual properties normally include: Trade-Marks, Patents, Copyrights, Designs, Confidential Information, Trade Secrets and know-how etc. Read More...

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Why is a Digital Signature Necessary? A digital signature authenticates electronic documents in a similar manner that a handwritten signature authenticates printed documents. This signature cannot be forged and it definitely states that a named person wrote or otherwise agreed to the document to which the signature is attached. The recipient of a digitally-signed message can verify that the message originated from the person whose signature is attached to the document and that the message has not been altered either intentionally or accidentally, since it was signed. Also, the signer of a document cannot later refuse to acknowledge it by claiming that the signature was fake, bogus, artificial etc. Read More...

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FDI in Retail Sector in India FDI is a source of external finance which means that countries with limited amounts of capital can receive finance beyond national borders from wealthier countries. FDI is considered to be an ingredient in economic growth. Read More...