Thursday, August 19, 2010

Procedure of Chit Fund Registration

Procedure of Chit Fund Registration
Chit fund Companies operating in Delhi as a practice, first obtain a certificate of incorporation from the Registrar of Companies. The office of the Registrar of Companies (Delhi & Haryana) is at IFCI Tower, Nehru Place, New Delhi.
(A) Requirements for registration of New Co. with Registrar of Chit Fund, New Delhi.
After getting this certificate, you can apply for registration of the company with Chit Fund Department., Govt. of N.C.T. of Delhi, 13th floor, Vyapaar Bhawan, I.P. Estate, New Delhi 110 002 (Tel. No. 331 8992) alongwith undermentined documents:

Monday, August 16, 2010


                                               INTELLECTUAL PROPERTY RIGHTS
The importance of intellectual property in India is well established at all levels- statutory, administrative and judicial. India ratified the agreement establishing the World Trade Organisation (WTO). This Agreement, inter-alia, contains an Agreement on Trade Related Aspects of Intellectual Property Rights (TRIPS) which came into force from 1st January 1995. It lays down minimum standards for protection and enforcement of intellectual property rights in member countries which are required to promote effective and adequate protection of intellectual property rights with a view to reducing distortions and impediments to international trade. The obligations under the TRIPS Agreement relate to provision of minimum standard of protection within the member countries legal systems and practices.

Wednesday, August 11, 2010

Establishment of Liasion Office in India

Establishment of Liasion Office in India
Liaison office acts as a channel of communication between the principal place of business or head office and entities in India.  Liaison office can not undertake any commercial activity directly or indirectly and cannot, therefore, earn any income in India.  Its role is limited to collecting information about possible market opportunities and providing information about the company and its products to prospective Indian customers.  It can promote export/import from/to India and also facilitate technical/financial collaboration between parent company and companies in India.
Permissible Activities for a Liaison Office

Tuesday, August 10, 2010


The followings are the requirements of LLP
Maintenance of Accounts
An LLP shall be under obligation to maintain annual accounts reflecting true and fair view of its state of affairs. A “Statement of Accounts and Solvency” in prescribed form shall be filed by every LLP with the Registrar every year.

Friday, August 6, 2010

Provisions Related to Abuse of Dominance in Competition Act 2002

Provisions Related to Abuse of Dominance in Competition Act 2002
The Competition Act, 2002 as amended by the Competition (Amendment) Act, 2007, (the Act) follows the philosophy of modern competition laws and aims at fostering competition and at protecting Indian markets against anti-competitive practices by enterprises. The Act prohibits anti-competitive agreements, abuse of dominant position by enterprises, and regulates entering into combinations (consisting of mergers, amalgamations and acquisitions) with a view to ensure that there is no adverse effect on competition in India. This competition advocacy and awareness booklet addresses the applicability of Section 4 of the Competition Act, 2002 relating to abuse of dominant position (dominance) by enterprises. Competition laws all over the world are primarily concerned with the acquisition and/or exercise of market power and its abuse. The term “market power” is variously known as “dominant position”, “monopoly power” and “substantial market power”.


In common parlance, competition in the market means sellers striving independently for buyers’ patronage to maximize profit (or other business objectives).  A buyer prefers to buy a product at a price that maximizes his benefits whereas the seller prefers to sell the product at a price that maximizes his profit.
Competition is now universally acknowledged as the best means of ensuring that consumers have access to the broadest range of services at the most competitive prices. Producers will have maximum incentive to innovate, reduce their costs and meet consumer demand. Competition thus promotes allocative and productive efficiency. But all this requires healthy market conditions and governments across the globe are increasingly trying to remove market imperfections through appropriate regulations to promote competition.

Wednesday, August 4, 2010


Writ Petitions under Articles 32 and 226 of the Constitution of India

The Writ Jurisdiction of Supreme Court can be invoked under Article 32 of the Constitution for the violation of fundamental rights guaranteed under Part – III of the Constitution. Any provision in any Constitution for Fundamental Rights is meaningless unless there are adequate safeguards to ensure enforcement of such provisions. Since the reality of such rights is tested only through the judiciary, the safeguards assume even more importance. In addition, enforcement also depends upon the degree of independence of the Judiciary and the availability of relevant instruments with the executive authority. Indian Constitution, like most of Western Constitutions, lays down certain provisions to ensure the enforcement of Fundamental Rights. These are as under: