LEGAL TRAIN

International Trade in 2020 -Guest post by Ecofin Imagine a situation where we know about i-phone, but we cannot buy it nor we can import it. Imagine a situation where production of rice in our country is in excess but 30% of the total production just going into waste!!!! And the same output we cannot even export it. I will name this situation “a world without International Trade”. Imagine 2020 without International Trade!! Oh! We are already here, thanks to Covid-19.  What is International Trade? In simple words, International Trade is exchange of goods and services as well as resources between countries. International Trade has more complexity compared to Internal Trade, as the former involves exchange of currencies, diversification in customer segment, differences in legal system, restrictions in the form of taxes, regulations, trade barriers, restraint to movements of specified goods and services and issues related to shipping and documentations. International Trade has its own...

Broadening the scope of CSR - Inclusion of 'PM Cares Fund' as CSR activity The fundamental concept behind ‘Corporate Social Responsibility’ (hereinafter referred to as “CSR”) is to make contribution towards growth and development of the society. Because as the society prospers, so will the opportunities for businesses.   Corporates are known to utilise resources and skills of the society in order to generate upscale profits. Thus, it becomes responsibility of these corporates to compensate in lieu of resources they are consuming for enriching their wealth. The time to return back to the roots.   Thus, those companies were mandatorily required to make a contribution of 2% of average net profit of preceding three years towards CSR activities whose, in any financial year [1] , Net worth equals or greater than INR 500 Crore or more; or  Turnover equals or greater than INR 1000 Crores or more; or Net profit equals or greater than INR 5 Crore;     ...

Company Secretary or lawyer. What should you practice as profession? Pursued both, i.e. Bachelor of Legislative Laws (LLB) and Company Secretary (CS), and now confused what should be professed as profession in India? As both of these degrees are profession and two professions cannot be practiced at once in India. Here is a perspective which may help you out in making a better choice for yourself.    It’s completely your own interest that comes into deciding whether you want to practice as a lawyer or CS. Although, ‘CS degree’ is considered to be equivalent to ‘Post-Graduation’ degree and ‘LLB’ still just a ‘Graduation’. However, both are professionals. The role of Company Secretary is limited to compliance. However, the role of lawyer knows no bound. Role of a company secretary is defined and limited. While, a lawyer, on the other hand, can practice in courts as an Advocate, can also appear before NCLT and work as a compliance officer or as a corporate lawyer in law firms or a...