Corporate Law
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- Incorporation of companies
- Registration of Companies
- Company meetings
- Shares and debentures
- Issue of securities
- Oppression and mismanagement
- Merger and acquisitions
- Winding up of companies and dissolution
- Shares and debentures Issue of securities
- Oppression and mismanagement
- Merger and acquisitions
- Winding up of companies and dissolution
- Banking Laws
- Matters relating to banker – customer relationship
- Matters relating to deficiency of banking services
- Cheque bouncing and matters related to negotiable instruments
- Oppression and mismanagement
- Merger and acquisitions
- Winding up of companies and dissolution
Company Law
Corporate Law here denotes company Law. Whenever a case pertaining to corporate law matters comes before a company lawyer ,he may have to recourse not only to companies Act, 1956 but also other legislations like Securities ( Contract ) Regulations Act , 1956 ( if the matter is some way or incidentally connected with stock exchanges , listing or delisting of securities etc ) or to Securities and Exchange Board of India Act, 1992( which regulates primary as well as secondary markets).Depositories Act, 1996 and other allied legislations . Hence company law can not be dealt in isolation. It is only one of the important legislation flowing from a cluster of other related legislations of the same field.
Formation of company is seen as the most convenient vehicle to carry out a business operation because of its separate legal personality i.e. It is separate from the members compose it (Aron Salomon v. Aron Saloman & Co. (1897 AC 22). Though other forms of business organizations are in existence viz ., partnership firms, Hindu Undivided families etc, The fact that it does not impose personal liability on the members & also it is easy to receive finance required for running of the company this form of business association is widely practiced in the world over.
The Companies Act, 1956 has its origin from the Joint stock companies Act of 1885. Based on the mode of obtaining incorporate status it can be classified as follows.
1) Chartered Corporations-Incorporated status conferred on the association by a royal charter: Eg. East India Company.
2) Registered Corporations: Here incorporated status is obtained by an association through the process of registration under a general Act, which provides for this:
Example:
1. An association registered under the Companies Act, 1956.
2. An association of persons incorporated under the Cooperative Societies Acts.
3) Statutory corporations: Incorporated status obtained by the association through an Act of the legislature –Eg. 1. Life Insurance Corporation of India – by LIC Act of 1956, the Reserve Bank of India – by the RBI Act, 1932. The Companies Act applies to only to those associations which are registered under the companies Act, 1956.
Under the Companies Act based on the liability of the members. The Companies Act covers a classification based on the liability of the members into limited, unlimited and guarantee companies. Under the Companies Act companies include foreign companies also (s.519).Case laws , rules and guidelines, text books on concerned subject matter is also a source for a lawyer to reach out to give a legal problem he is confronted on the corporate matter.
The Companies Act, 1956 is one of the bulky legislation running into 658 sections & 15 schedules. It provides for formation of a company, issue and allotment of shares, company meetings, board of directors powers and duties, remedies for corporate abuses, amalgamations &mergers and take over and provisions for winding up.
Banking Law
Banks are playing a vital role in the business& economic development of the country. The basis of banking law is the general principles of contract. Earlier it was thought that the banker customer relationship is one of debtor and creditor ( Folly V. Hill) But due to the multifarious functions undertaken by the banks in the present era, the relationship between banker and customer varies depends upon the nature of transactions he enters into. Some times it may be bailor- bailee, or agent- principle etc .
The Banking Regulation Act, 1949 regulates the business of Banking in the country. A banking company can undertake only that business which is considered as banking business under the Act. For a business to be banking there must be acceptance of deposit and lending of money on demand by such banking company. Only if these two constituent is there it can be treated as banking activity.
Legislations are enacted for the purpose of regulating Non –Banking financial institutions, Non Banking Non- Financial Institutions etc.
The Negotiable instruments Act, 1881 regulates the transactions in negotiable instruments viz., Promissory note, bill of exchange & cheques. The main object of the Negotiable instruments Act is to legalise the system by which instruments contemplated by it could pass from hand to hand by negotiation like any other goods. The purpose of the Act was to present an orderly and authoritative statement of the leading rules of law relating to negotiable instruments. To achieve the object of the Act legislature thought it proper to make provision in the Act for conferring certain privileges to the mercantile instruments contemplated under it and provide special procedure in case the obligation under the instrument was not discharged (Shri Ishar Alloy Steel Ltd., v. Jayaswal Neco Ltd., AIR 2001 SC1161)
Reserve bank of India being the controller of credit and monitory policy of the country prescribe the minimum SLR (Statutory Liquiditory ratio) and CRR (Cash reserve ratio) to be maintained by the bank. Act, Reserve bank of India 1934 vests in RBI substantial power of management, regulation & supervision over the banking activities of the Country.
As a Law firm in bangalore we also provide corporate law services. We have specilaized lawyers to deal with corporate related cases. If you are looking for corporate lawyers or need advice for corporate related cases please contact our law firm
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