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  • Legal Drafting Skills

    Legal Drafting Skills

    Published: 25 Jan 2018

    American actor Will Rogers famously said, “The minute you read something and you can't understand it, you can almost be sure that it was drawn up by a lawyer.” So much appreciation for lawyers' drafting skills ! Till about mid - 1990s, it was a common sight in Indian legal chambers for stenos / junior lawyers to first take dictation from the senior partner and then type it (in case of stenos) ...

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  • Strengthening Legal Drafting Skills

    Strengthening Legal Drafting Skills

    Published: 25 Jan 2018

    Good drafting is one of the most important skills that any practicing lawyer needs to possess. This importance can not be overstated. However, unlike in the West, many (or may I say, most) Indian law colleges do not have proper modules to teach legal drafting skills to students. In the absence of a formal course, students who manage to secure good internships – be it with litigation lawyers or...

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  • How to use Definitions in an agreement

    How to use Definitions in an agreement

    Published: 24 Jan 2018

    There could be terms which are used many times throughout an agreement. It starts from the parties to the agreement itself. For example, instead of mentioning Mr. Muralikrishnan Ramaswamy Balasundaram Mahalingam (I have no idea if there is a gentleman with this name, no offence, just an example) or XYZ Steel Manufacturing Corporation Limited or LMN International Trading Services India LLP, you c...

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  • Importance of Consideration in an Agreement

    Importance of Consideration in an Agreement

    Published: 24 Jan 2018

    In contract law, consideration is meant to be the exchange of one thing of value for another. It is one of the important elements that must be present for a contract to be legally enforceable.  According to Section 2(d) of the Indian Contract Act, 1872 consideration is defined as: "When at the desire of the promisor, the promisee or any other person has done or abstained from doin...

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  • Independent Directors - Expectations

    Independent Directors - Expectations

    Published: 23 Jan 2018

    The role of Independent Directors has come into the limelight in India recently amidst Tata Sons – Cyrus Mistry spat. It would be interesting to see who is an independent director and what is expected of such person. Section 149(6) of the Companies Act, 2013 (“the Act”) provides a detailed definition in this regard. An independent director, in the opinion of the Board, has to be a person of in...

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  • One Person Company (OPC) in India

    One Person Company (OPC) in India

    Published: 23 Jan 2018

    Running a business on one’s own comes with a lot of limitations. Most severe implications are difficulty in access to credit by banks / financial institutions and unlimited personal liability. As a result, many businessmen and professionals want to carry their business through a corporate structure. However, most corporate structures be it partnership, LLP or company require more than one promot...

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  • LLPs in India - all you want to know

    LLPs in India - all you want to know

    Published: 22 Jan 2018

    Limited Liability Partnership (‘LLP’) is a form of enterprise that merges certain advantages of a partnership with those of a company. Viewed as an ‘alternate or hybrid corporate vehicle’, an LLP achieves the best of both corporate forms by granting to the members of the LLP, the flexibility of organizing their internal managerial structure as a partnership based on mutual-understanding, while lim...

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  • Permanent residency status to foreign investors in India

    Permanent residency status to foreign investors in India

    Published: 22 Jan 2018

    The government of India, in order to encourage more FDI, has approved a scheme for granting permanent residency status (PRS) to foreign investors. Conditions relating to this scheme shall be specified in the FDI Policy notified from time to time. The PRS will be granted for a period of ten (10) years with multiple entry. PRS shall be subject to review for another 10 years if the PRS holder d...

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