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ECONOMIC, BUSINESS AND COMMERCIAL LAWS
On completion of this course, the students will be able to;
CO 42:Identifying the meaning of Law and its Significance; Relevance of Law to Modern Civilized Society.
CO 43:Explaining the meaning and Nature of Company; Promotion and Incorporation of a Company;
CO 44:Familiarization with the Concept of Board of Directors, Shareholders and Company Meetings etc
CO 45:Moderating Nature ofPartnership and Similar Organizations-Co-Ownership, HUF; Partnership Deed, Dissolution of Firms and of the Partnership; Limited Liability Partnership Act. Getting overall understanding about special features negotiable instruments, information technology act along with roles and responsibilities of a Company Secretary
CO 46:. Acquaintance with RBI and its functioning. Knowledge about NBFC and their working, various remittance schemes and foreign trade policy and procedures.
CO 47: Familiarization of consumer and completion laws and learning their applicability.
Reserve Bank of India Act, 1934: Central Banking functions; Monetary policy; Penalties.
Foreign Exchange Management Act, 1999 :Introduction
Foreign Exchange Transactions & Compliances: Current and Capital Account Transactions; Acquisition &Transfer of Immovable Property in India and Abroad; Realization and Repatriation of Foreign Exchange; Brief information of other FEMA Regulations.
Foreign Contribution (Regulation) Act, 2010: Introduction and Object, Eligible Contributor, Eligible Receiver, Registration, Offences and Penalties.
Foreign Direct Investments – Regulations & FDI Policy: Automatic and Approval Route of FDI; Setting up of Subsidiary/Joint Venture/Liaison Office/ Branch Office by Non-residents; Foreign Portfolio Investments.
Overseas Direct Investment: ODI Policy, foreign currency remittances, Setting up of Subsidiary/Joint Venture/Branch Office
Liberalized Remittance Scheme: Investment Outside India by Indian Residents.
External Commercial Borrowings (ECB): An Overview.
Foreign Trade Policy & Procedure: Merchandise Exports from India Scheme (MEIS); Service Exports from India Scheme (SEIS); Duty exemption / remission schemes; Export oriented units (EOUS); Electronics Hardware Technology Parks (EHTPS); Software Technology Parks (STPS); Bio-Technology Parks (BTPS).Imports and related policies.
Non Banking Finance Companies(NBFCs): Definition; Types; Requirement of Registration as NBFC and exemptions from registration as NBFC; Micro Finance Institutions, Activities of NBFCs; Compliances by the NBFCs and requirements of approvals of RBI; Deposit Accepting and Non-deposit Accepting NBFCs; Deemed NBFC; Core Investment Company and Systemically Important Core Investment Companies; Peer to Peer Lending; Defaults, Adjudication, prosecutions and penalties.
Special Economic Zones Act, 2005: Establishment of Special Economic Zones; Approval and Authorization to Operate SEZ; Setting up of Unit; Special Economic Zone Authority.
Competition Act, 2002: Competition Policy ; Anti-Competitive Agreements; Abuse of Dominant Position; Overview of Combination and Regulation of Combinations; Competition Advocacy; Competition Commission of India; Appellate Tribunal
Consumer Protection Act, 1986: Consumer Protection in India; Rights of Consumers; Consumer Dispute Redressal Forums; Nature and Scope of Remedies.
Essential Commodities Act, 1955: Essential Commodities; Powers of Central Government; Authorities responsible to administer the Act; Delegation of powers; Nature of Order passed under the Act; Seizure and Confiscation of Essential Commodities; Offences by Companies.
Legal Metrology Act, 2009: Standard weights and measures; Power of inspection, seizure; Declarations on pre-packaged commodities; Offences and penalties.
Transfer of Property Act, 1882:Types of Properties; Properties which cannot be Transferred; Rule Against Perpetuities; Lis Pendens; Provisions Relating to Sale; Mortgage, Charge, Lease, Gift and Actionable Claim; Specific Performance.
Real Estate (Regulation and Development) Act, 2016: Registration of Real Estate Project; Real Estate Agents; Real Estate Regulatory Authority; Central Advisory Council; The Real Estate Appellate Tribunal; Offences, Penalties and Adjudication. Specimen Agreement for Sale between the Promoter and the Allottee; Due Diligence Reporting.
Benami Transaction Prohibitions Act: Benami Property; Benami Transaction, Prohibition of Benami Transaction; Authority, Adjudication of Benami property.
Prevention of Money Laundering: Problem and adverse effect of money laundering; Methods of money laundering; Offence of money laundering; Attachment, adjudication and confiscation.
Specific Relief Act 1963 : Specific reliefs and defense; specific performance and defense; unenforceable contracts; Rescission of Contracts; Cancellation of Instruments; Declaratory Decrees; Preventive Reliefs.
Partnership Act, 1932: Rights and Liabilities of Partners; Registration of Firms; Dissolution of Firms and Partnership; Landmark judgments.
Indian Contracts Act, 1872: Essential elements of a Valid Contract; Indemnity and Guarantee; Bailment and Pledge; Law of Agency; E-Contract; Landmark judgments.
Sale of Goods Act, 1930: Essentials of a Contract of Sale; Sale Distinguished from Agreement to Sell, Bailment, Contract for Work and Labour and Hire-Purchase; Conditions and Warranties; Doctrine of Caveat Emptor; Performance of the Contract of Sale; Landmark judgments.
Negotiable Instrument Act, 1881: Negotiable Instruments and Parties; Material Alteration; Crossing and bouncing of Cheques; Dishonor of Cheques& its Remedies; Presumption of Law as to Negotiable Instruments; Landmark judgments.
- Study Material Published by ICSI
SUGGESTED READINGS:
- Scanner-Arun Kumar(ShuchitaPrakashans(P) Ltd)
e-RESOURCES:
https://www.icsi.edu/media/webmodules/15112021_Final_EBCL_November.pdf
JOURNALS:
https://www.icsi.edu/e-journals/
