RERA: Real Estate Regulatory Act- All You Need To Know. An Insight into RERA RERA stands for Real Estate Regulatory Act. The bill was passed by the Rajya Sabha on 10th March 2016 and by the Lok Sabha on 15th March 2016. The Act came into force on 1st May 2016 with 59 of 92 sections notified. The Union Ministry of Housing and Urban Poverty Alleviation had given time till May 1st 2017, to formulate and notify rules for the functioning of the regulator and hence the remaining provisions came into force on 1st May 2017. The aims of the Act are- Protect the home buyers from unscrupulous builders.Increase investment in the real estate industry.To regulate the real estate sector of India.Impose penalties on errant builders.Bring transparency and accountability in the real estate industry.Stabilise housing prices.
According to RERA, each state and Union territory will have its own regulator and set of rules to govern the functioning of the regulator. Why RERA Moreover, the real estate sector of India is largely unregulated. Provisions Under RERA. ESOP: Employee Stock Option Plan - In Simpler Words. What are ESOP’s? From being given to acknowledge and remunerate senior employees to using it as a consideration in the beginning to retain employees, since employers cannot afford to shed lakhs of money for remuneration, ESOP’s became essential for startups.
Employee Stock Option Plans are the plans in which employees get the right to purchase a number of shares in the company at a discounted price (less than the market price). Companies provide their employees with stock ownership at a discounted price. These shares are a part of employees remuneration for work performed. Following terms are to be kept in mind for a better understanding of ESOP’s: Grant of Options: It’s the issue of the right provided by the company to its employees to buy shares of the company. Vesting: Vesting is earning the right to exercise the options.
Vesting Period: It’s the period that an employee has to wait to exercise his options. Exercise Price: A price that is paid to convert the options into share. 1. 2. 3. 4. Service Level Agreements: All You Need to Know. What is a Service Level Agreement? A Service Level Agreement (SLA) is an agreement between two or more parties, where one is the customer and the others are service providers. As the name suggests, it is an agreement that defines the terms of the service being offered to the customer.
An SLA may address several areas including the availability of the service, the performance of the service, how it will operate, priorities, responsibilities of involved parties, guarantees, warranties, etc. Some of the most common users of Service Level Agreements would be for telecom companies, IT service providers, Internet Service Providers and Outsourcing. Service Level Agreements can be defined at different levels as follows: 1. 2. 3. Corporate Level: It covers all the issues which are same for the entire organization. Who needs a Service level agreement? SLA’s were originated with network service providers, but with the progressing world, they are now used in other fields as well. 1. 2. 3. 4. 1. 2. 3. Legal Disrupt: Legal information, tips and advice. What Are Smart Contracts And Why They Are The Future Of Legal. What Are Smart Contracts And Why They Are The Future Of Legal The world is changing, and so are its trends.
With the boon in technology and digital, every industry is adapting to changes open-mindedly. Same is the case with the conventional legal industry. The self-executing technology has made the industries smart. Talking of smart, have you heard about smart contracts? Smart contract are self-executing, and help you exchange money, shares, property or anything of value, in a conflict-free way while avoiding the interfering of middlemen.
Let’s understand it better with an example; say you are at a vending machine, you put in the money and withdraw the commodity of your choice. The smart contract not only generates your contract, but also defines the penalties, more so automatically enforcing those obligations, hence completely striking off the need of a middleman. Blockchain and bitcoin platforms of smart contracts have bewildered the Indian setup though. Need Legal Assistance? A Guide To Effective Dispute Resolution For HR. A Guide To Effective Dispute Resolution For HR In this competitive world, working with people coming from different backgrounds, and of different age groups, varying experience, we’re likely to have different set of values, needs, and goals and opposite interests.
If there can be disputes between family members, friends and acquaintances, workplace disputes shouldn’t come across as a surprise. Reason being different set of people function differently, and uncommon interest and opinions are not unlikely. The thing with disputes is that they cannot and should not be ignored. They’re capable of disrupting relations, and can cause tremendous damage to business, company culture, work culture and an individual’s mental health. In order to efficiently manage disputes at workplace and ensure a healthy and well-functioning company decorum, the HRs need to up their game.
Coming to effective dispute resolution, what actually is it? Need Legal Assistance? Why Legal Tech Is Seeing Such Gradual Adoption Rates. Why Legal Tech Is Seeing Such Gradual Adoption Rates The traditional legal industry as we know it is now undergoing a deep transformational phase and entering the technological domain. The legal industry is widening its horizons by digitalizing itself. Legal technology or Legal tech is the new toy and the legal industry looks game for it. Legal tech in layman's language refers to the use of softwares and technologies with which law firms can practise with ease. It includes document filing, storage, management, accounting, billing etc.
These are usually legal tech startups with the sole purpose of disrupting the conservative legal market. In 2009, there were 15 startups identifying themselves as legal tech startups. Legal tech has given high hopes to the practising lawyers as it enables them with fast law. On the basis thereof, legal tech is believed to bring dramatical changes in the legal industry with with its confluxing factors and services - Need Legal Assistance? Legal Disclaimers And Policies Your Website Must Have. Legal Disclaimers And Policies Your Website Must Have Imagine you are planning a property investment.
You get in touch with estate agents, builders, propertiers etc. to chalk out your requirements. When taking the final call you want as much information about your investment as possible. Same is the case with websites! Your website is a piece of land you want to sell of, and your customers and visitors need information about it. Before people plan to invest their time and information to your website, they need to feel safe about it. A feel-safe customer, is a future loyal customer. Having said that, having legal disclaimers and policies listed on your website is how you build trust with your website visitors. Privacy policy : Your privacy policy legal page declares to your website visitor what information you take from them, and how do you use it.
Need Legal Assistance? Real Estate Laws- an overview. Real Estate Laws- an overview When we talk about real estate it means the development of land and construction in relation to immovable property. There has been tremendous growth in the real estate sector in India as a result of more influx of industries, corporates and hence population in the cities. With the increase of the population in cities the building construction has increased.
The laws to govern real estate are necessary for smooth functioning of constructions and sale and purchase of immovable property. These laws can be complex as three tiers of laws and regulations apply on this sector, i.e- Union territory laws, state laws and municipal laws. India is a big country in terms of area, population and is also culturally diverse and hence specific laws as per the requirement of that particular state or area might be necessary. The various aspects of real estate include- lease, sale, mortgage, license etc. relating to immovable property. The above list of laws is not exhaustive. Corporate Employees and Labour laws. India places high importance to the protection of its workforce from various external factors, and this is reflected in the comprehensive labour laws and their continuous reform in order to suit the emerging needs of employees in the contemporary world.
Increased maternity benefits, increased insurance coverage, simplifying the labour laws, are some of the recent developments that took place in this regard. These and a few more laws pertaining to employees in the corporate sector are going to be discussed here. Payment of Wages Act, 1936 The Payment of Wages Act 1936 imposes certain obligations upon the employer. The responsibility of payment of wages is primarily upon the employer. Minimum Wages Act, 1948 The Minimum Wages Act provides that minimum wages must be paid to all employees in all companies. The Employees’ State Insurance Act, 1948 It was recently amended to increase the statutory employee insurance wage limit coverage from Rs.15,000 to Rs.21,000. Maternity Benefit Act, 1961. Legal Compliances Required for Private Limited Companies. These Legal Compliances are Required for Private Limited Companies We already know that companies in India are governed by the Companies Act, 2013.
However, some amendments have been made to this act in the recent past. Company law provides businesses with legal compliances that they need to follow and ensure its smooth operation within their working space. If you’re looking for business registration lawyers, visit our website to get an insight on such services offered. As you must be aware about different business structures, Private Limited Company is considered to be the most reliable and popular legal entity in India. However, there is a set of legal compliances which are required to be followed. Below are a few common compliances listed for a Private Limited Company - Appointment of an Auditor -The auditor should be appointed within the first month from the date of incorporation.
Hire corporate lawyers, get business registration done, and other legal services with us. ABCs of Patents. Patent rights are provided to your intellectual property for claiming your legal right on it. Patents restrict others in using, manufacturing, selling or importing products for a limited period of time. These exclusive rights are granted for products, inventions as well as its processes.
Let us understand the ABCs of Patents - What is a patent? Patent is an intellectual property right granted to the owner. It is a set of rights given to the inventor for their invention, or a process that provides a new way of doing something innovative. The primary objective of the patent law, is to encourage innovation and commercialization of technological advances.
Types of patents – There are four types of patents: Design – This type of patent provides protective rights for the design of an invention or manufacture. What cannot be patented? Possessions that are not relevant when inventions, machines are considered. Uses of patents In case of infringement, you can enforce these patent rights provided to you. Lawyered announces the acquisition of InCourt News, a legal news platform. The legal tech industry has witnessed a new alliance which has been signed between Lawyered and InCourt News. This acquisition has united two progressive companies working towards a common business culture. Incourt News makes a great addition to the Lawyered team, by being a platform which disseminates legal news and updates in 60 words. Mr. Himanshu Gupta, co-founder and CEO, Lawyered has expressed how Incourt News and its team align with Lawyered’s mission and vision and fits perfectly into the roadmap for the future of the company.
The legal tech initiative is going through a major growth drive as it positions itself as a national leader in providing legal solutions through a lawyer discovery platform. This acquisition further reiterates the holistic goal of Lawyered and its expertise in the areas of legal tech, product innovation and advisory helping build a strong ecosystem which connects all aspects of its business. Media Coverage: Download InCourt News App: Need Legal Assistance? How to Choose the Right Insolvency Professional for Your Company. Author - Rahul Dhote and Associate Shristi Keshri The term insolvency means a situation where the debtor is unable to pay off his debts; as his liabilities exceeds his assets. It is a state of financial distress where an individual/entity is unable to raise enough funds to pay off his debts and obligations due.
Insolvency can emerge from poor money administration, decrease in cash inflow or increase in expenses. The solution to this problem might get settled by changing the mode of repayment of loan by any other alternative payment method if not, then legal actions will be taken against the person insolvent by selling off all the assets held by him to clear off his outstanding debts and financial obligations.
To enhance the procedure of insolvency resolution, The Insolvency and Bankruptcy Board of India (IBBC) was set up on 1st October, 2016 in accordance with the provisions of The Insolvency and Bankruptcy Code 2016 (hereinafter referred to as ‘IBC’). Need Legal Assistance? Filing for Bankruptcy? Keep These Things in Mind. Filing for Bankruptcy? Keep These Things in Mind Bankruptcy is a legal status of a person or organization who are not capable of repaying their debts. However, it is not the only status that an insolvent person may have.
In most cases, bankruptcy is imposed by jurisdiction and is often initiated by the debtor(s). Hire top corporate lawyers for best business and financial advices. Types of Bankruptcy While there are different types of bankruptcies, most common and notable ones are chapter 7 and chapter 11. Chapter 7 is generally referred to as liquidation, and is the most common form of bankruptcy.Chapter 11 refers to re-organization of businesses and allows the bankrupt a chance for more negotiation with debtors, once the filing is initiated. It is important that you understand the types of bankruptcies before hiring a corporate lawyer. Other alternatives While you might be thinking that filing for bankruptcy is the only option you have; it often isn’t. Eligibility – Guidance - LEGAL POSITION OF ONLINE GAMING/GAMBLING IN INDIA. Gaming/Gambling laws in India prohibit betting or wagering and any act which is intended to aid or facilitate the same.
Gaming/Gambling being a State subject, different States in India have different gaming/gambling laws. This would mean what is permitted in one State may be an offence in another. The Public Gambling Act, 1867, is the central enactment on the subject, which has been adopted by certain states of India like Uttar Pradesh, Punjab, Madhya Pradesh etc. The other States in India have enacted their own legislation to regulate gaming / gambling activities within its territory. After going through the State gambling laws, it is found that, except the State of Orissa and Assam, most of the States have excluded ‘games of skill’ from applicability of its respective gaming/gambling laws.
The issue of online gambling still remains a grey area which is yet to be adjudicated by Courts of India. Game of Skill v. Delhi District Court: Gaussian Network Pvt. Gujarat High Court on Poker: Basic differences between Insolvency and Bankruptcy. How You Can File Insolvency Petition. Legal Disrupt: Legal information, tips and advice. Things To Keep In Mind While Registering for A Trademark In India. ABCs of Patents. What is Copyright Infringement In India?
Legal Compliances Required for Private Limited Companies. Corporate Employees and Labour laws. Due Diligence Required Before Buying A Property. All About Sexual Harassment at Workplace. Importance of Founders' Agreement in a Start-up. Due Diligence Required Before Buying A Property. Lawyered Legal Service — Due Diligence Required Before Buying A Property. Budget 2019 to Bring Rebate Changes for Income Tax Payers. Legal services in India. Budget 2019 to Bring Rebate Changes for Income Tax Payers : lawyer65. Lawyered Legal Service — Registration process of 'One Person Company' Plus.google. Lawyered.in - Google Maps. Corporate Law And Legal Compliance: An Introduction To Legal Setup For Startups. An Introduction To "What Are Compliance Laws" Trade Dress - Hand In Hand - With Trademark. 10 Laws We Break On A Daily Basis. Lawyered announces the acquisition of InCourt News, a legal news platform. Face to Face with Dr Gubbi Subba Rao. A View Of POSH (The Cause And The Laws)
Lawyered announces the acquisition of InCourt News, a legal news platform. An Introduction To "What Are Compliance Laws" Lawyered announces the acquisition of InCourt News, a legal news platform. Trade Dress - Hand In Hand - With Trademark. 10 Laws We Break On A Daily Basis. Understanding, Preventing and Redressing Sexual Harassment at the Workplace.
How to sue an Employer. Benami Property. The Journey From Vishakha Case to Prevention of Sexual Harassment Act. Companies (Amendment) Act, 2017. Legal compliance and the IBC corporate law. Legal compliance of sexual harassment disclosure. Intellectual property rights and the national IPR policy. Legal compliance of corporate law for safety of women. How corporate lawyers can help your startup. Free legal advice on corporate law and IBC. Corporate law and responding to sexual harassment. Legal compliance for real estate development. Dissolution of Muslim Marriage Act, 1939. Benefit of RERA (Real Estate Regulatory Authority) Differences Between FIR and Zero FIR. Copyright Infringement Law Suit. Find the best Employment and labour law lawyers in Gurgaon. Corporate lawyers in Delhi - HR Policy.
Corporate Lawyers in Mumbai. Find the top corporate lawyers in Gurgaon. The reason why your startup requires company compliance lawyers. Searching for a lawyer for dispute resolution? Website Agreements and Policy Lawyers in Delhi tell you its importance. NET Neutrality Regime in India. Intellectual Property - Industrial Design.
Maternity Benefit Amendment ACT, 2017. How to Sue a Builder. Largest M&A Deal- Walmart Takes over Flipkart. What Are The Mandatory and Regulatory Compliance's For a Business? Sexual Offences Against Children & Its Penalties.
How to Protect Intellectual Property - Strategy for Startups. How Partnership Clarity in the Early-Stages Increases your Immunity. All You Need to Know About ANGEL TAX. Alternate Market Commission - A Boost for Startup Ecosystem. Understanding the Concept of Cheque Bounce in India.
Data Protection in India and Europe: A Comparative Analysis. DELHI Government to Set up Police Complaint Authority to Hear Complaints Against Police Misconduct. Proposed Amendments To The Specific Relief Act, 1963 - Impact Analysis.
The Draft National Digital Communications Policy, 2018. P2P Lending - RBI's Stance on Peer-to-Peer Lending Platform. Cheque Bounce Case: All You Need To Know.
Dishonor of Cheque: Section 138 of the Negotiable Instruments Act, 1881. Facing Delayed Possession of Property? Here's What Will Happen If you Miss Today's Income Tax Return Filing Deadline. Tips to Proofread Legal Documents. 5 Common Business Disputes That Can Be Easily Avoided.
Medical Negligence: Guide to Taking Legal Action against your Doctor. One Person Company in India. How Freelancers Should Avoid Being Exploited For Their Skill. RERA: Real Estate Regulatory Act- All You Need To Know.
ESOP: Employee Stock Option Plan - In Simpler Words. Service Level Agreements: All You Need to Know.