Debentures can be secured or unsecured. Trustees should be appointed for debentures. Debentures Redemtion Reserve (DRR) and trustees have to be created as per rules. Issuing company has to file particulars of charge . with Registrar of companies as per provisions of companies act. As per section 117 B of companies act, appointment of debenture [...]
Law
Constitution of India
The Constitution of India came into force on january 26, 1950. it is a comparehensive document containing 395 Articles (divided into 22 parts) and 12 schedules. Apart from dealing with the structure of government, the constitution makes detailed provisions and for the rights of citizens and other persons in a number of entrenched provisions and [...]
THE RIGHT TO INFORMATION(RTI) ACT,2005
The right to information-act 2005 provides an effective framework for effectuating the right to information recognized under article 19 of the constitution. It may be pointed out the right to information bill was passed by the lok sabha on may 11,2005 and by the rajya sabha on may 12, 2005 and received the assent of [...]
METHODS OF COMPUTATION VAT AND VAT LIABILITY
1.The subtraction method 2.The addition method 3.Tax credit method The subtraction method:- under the method the tax rate is applied to the difference between the value of output and the cost of input; The addition method :- under this method value addes is computed by adding all the payments that are payable to the factors [...]
Factory and industry means
Factory: It means any premises including the precincts thereof, in any part of which a manufacturinh process is being carried in or ordinarily so carried on, wehether with the aid of power or without the aid of power.[section 2(g)] Industry: It means any industry specified in schedule 1, and includes any other industry added to [...]
Amount of gratuity payable
Gratuity is calculated on the basis of continuous service as defined above i.e. for every completed year of service or part in excess of six months, at the rate of fifteen days wages last drawn. The maximum amount of gratuity allowed under the act is Rs. 350000. Note:Nomination An employee covered by the act is [...]
To whom is gratuity payable?
It is payble normally to the employee himself. However, in the case of death of the employee, it shall be paid to his nominee and if no nomination has been made, to his heirs and where any such nominees or heirs is aminor, the share of such minor, shall be deposited with the controlling authority [...]
When is gratuity payable?
According to section4(1) of the payment of gratuity act, 1972, gratuity shall be payble to an employee on the termination of employment after he hase rendered continuous service for not less than five years: (a) on his superannuation, or (b) on his retirement or resignation, or (c) on his death or disablement due to accident [...]
What is money laundering?
Money loundering is the processing of criminal proceeds to disguise its illegal origin. Terrorism, illegal arms sales, financial crimes, smuggling and the activities of organished crime, including drug trafficking and prodtitution rings, generate hugh sums. Embezzlement, insider trading, bribery and computer fraud also produce large profits and create an incentive to legitimize the illgotten gains [...]
right relating to freedom
articles 19-22 guarantee certain fundamental freedoms. The six freedoms of citizens article 19(1), of the constitution, guarantees to the citizens of India six freedoms, namely: (a) freedom of speech and expression; (b) assemble peaceably and without arms; (c) form associations or unions; (d) move freely, throughout the territory of india; (e) reside and settle in [...]
Interpretation of statutes
Internal and external aids interpretation (A) internal aids in interpretation 1. title 2. preamble 3. heading and title of a chapter 4. marginal notes 5. interpretation clauses 6. proviso 7. explanation 8. schedules (B) external aids in interpretation 1. parliamentary history 2. reference to reports of committees 3. reference to other statutes 4. dictionaries 5. [...]
