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Economic and Commercial Laws

 

Objective:
To acquire knowledge and understanding of Economic and
Commercial Laws.

 

 

PAPER 3: ECONOMIC AND COMMERCIAL LAWS (100 Marks)

Level of Knowledge: Part A-Advance Knowledge

Part B- Working Knowledge

Contents: PART A: (70 Marks)

1. Foreign Exchange Management

  • Objectives and Definitions under FEMA, 1999
  • Current Account Transactions and Capita Account Transactions
  • FDI Policy
  • Foreign Direct Investment in India and Abroad
  • Acquisition and Transfer of Immovable Property in India and
  • Abroad
  • Establishment of Branch, Office etc. in India
  • Export of Goods and Services
  • Realization and Repatriation of Foreign Exchange
  • Authorized Person
  • Penalties and Enforcement
  • Foreign Contribution (Regulation)Act, 2010
  • Foreign Contributions and Hospitality
  • Exemptions
  • Powers of Central Government
  • Adjudication, Appeal and Compounding
  • Offences and Penalties

2. Foreign Trade Policy and Procedures

  • Main Features
  • Special Focus Initiatives
  • Served from India Scheme
  • Export Promotion Council
  • Vishesh Krishi and Gram Udyog Yojana
  • Focus Market Scheme; Focus Product Scheme; Duty Exemption
  • and Remission Schemes; Advance Authorization Scheme;
  • DFRC; DEPB; EPCG, etc.
  • EOUs, EHTPs, STPs, BPTs and SEZs

3. Competition and Consumer Protection

  • Concept of Competition
  • Development of Competition Law
  • Competition Policy
  • Competition Act, 2002 – Anti Competitive Agreements, Abuse of
  • Dominant Position, Combination, Regulation of Combinations,
  • Competition Commission of India; Appearance before
  • Commission and Appellate Tribunal, Compliance of Competition

Law

  • Consumer Protection Act, 1986
  • Consumer Protection in India
  • Genesis of the Law and Objects
  • Rights of Consumers
  • Nature and Scope of Remedies
  • Appearance before Consumer Dispute Redressa Forums

4. Intellectual Property Rights

  • Introduction – GATT, WIPO and TRIPS
  • Concept and Development of Intellectual Property Law in India
  • Law and Procedure Relating to Patents, Trade Marks and

Copyrights

  • Geographical Indications
  • Design Act
  • Overview of Laws Relating to Other Intellectual Property Rights
  • Intellectual Property Appellate Board

5. Law relating to Arbitration and Conciliation

  • Introduction to UNCITRAL MODE LAW
  • Law of Arbitration in India
  • Types of Arbitration
  • Appointment of Arbitrators – Procedure
  • Judicial Intervention
  • Venue – Commencement
  • Award – Time limit, Enforceability, Interest
  • Recourse against Award – Appeals
  • Conciliation and Compromise
  • International Commercial Arbitration; Foreign Awards
  • Arbitration Agencies – ICADR, ICA, Chambers of Commerce,
  • Professional Arbitrators
  • Alternate Disputes Resolution

6. Law relating to Transfer of Property

  • Important Definitions
  • Types of Properties
  • Movable and Immovable Property
  • Properties which cannot be Transferred
  • Rule Against Perpetuities
  • Lis Pendens
  • Provisions Relating to Sale
  • Mortgage, Charge, Lease, Gift and Actionable Claim

7. Law relating to Stamps

  • Methods of Stamping
  • Consequences of Non-Stamping and Under-Stamping
  • Impounding of Instruments
  • Construction of Instruments for Determination of Stamp Duty
  • Payable
  • Adjudication
  • Allowance and Refund
  • Pena Provisions
  • Concept of E-Stamping

8. Law relating to Contract

  • Contract – Introduction
  • Legality of Objects
  • Standard Form of Contract
  • Multinational Agreement
  • E-Contracts
  • Strategies and Constraints to enforce Contractual Obligations
  • Special Contracts: Indemnity and Guarantee; Bailment and
  • Pledge; Law of Agency

9. Prevention of Money Laundering

  • Genesis
  • Prevention of Money Laundering Act, 2002
  • Concept and Definitions, Various Transactions, etc.
  • Obligations of Banks and Financial Institutions
  • RBI Guidelines on KYC

PART B: (30 Marks)

10. Law relating to Essential Commodities, Weights and

Measures

  • Overview of Essential Commodities Act, 1955
  • Objects
  • Powers of Central Government
  • Seizure and Confiscation of Essential Commodities
  • Summary Trial
  • The Legal Metrology Act, 2009

11. Law relating to Societies

  • General Concept Relating to Registration of Societies
  • Property of Societies
  • Suits by and against Societies
  • Enforcement of Judgment against Societies
  • Dissolution of Societies

12. Law relating to Trusts

  • General Concept relating to Trusts
  • Creation of Trust
  • Duties and Liabilities of Trustees
  • Rights and Powers of Trustees, Disabilities of Trustees
  • Rights and Liabilities of the Beneficiary

13. Industries Development and Regulation

  • Objects and Definitions
  • An Overview of Industrial Policy
  • Regulatory Mechanism under IDRA
  • The Micro, Small and Medium Enterprises Development Act,
  • 2006

14. Law relating to Pollution Control and Environmental

Protection

  • Concept of Sustainable Development, Bio Diversity and Carbon
  • Credit
  • Government Policy Regarding Environment
  • Law Relating to Prevention and Control of Air Pollution and Water
  • Pollution
  • Environment (Protection) Act, 1986
  • National Green Tribunal
  • Appearance before Environment Tribunal/Authority
  • Public Liability Insurance Act, 1991

15. Law relating to Registration of Documents

  • Registration of Documents – Compulsory and Optional
  • Time and Place of Registration
  • Consequences of Non-Registration
  • Description of Property
  • Miscellaneous Provisions

1 comment

  1. lalita

    excellent teaching … i am satified with this video

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