Author: Legal Parivar

The Reserve Bank of India (RBI) has rejected the proposal to reappoint Rajkumar Bansal as the managing director and chief executive officer (MD & CEO) of Edelweiss Asset Reconstruction Company, the company announced in a regulatory filing on Tuesday.

Monthly net inflows through SIPs might have reached another record in May at Rs 20,904 crore – marking the 11th consecutive month of a new high – but the SIP stoppage ratio has also hit an all-time high, raising concerns among industry players. According to the latest data from the Association of Mutual Funds in India (AMFI), 49.74 lakh new SIP accounts were registered in May, down from 63.65 lakh the previous month. Furthermore, discontinuations increased by 32.21 percent to 43.96 lakh from 33.25 lakh in the prior month. Consequently, the ratio of SIPs stopped as a percentage of fresh…

PTC Industries’ shares surged over 5 percent to reach an all-time high of Rs 11,753 each on June 11. This rise follows the company’s involvement in a special purpose vehicle (SPV) under the government’s ‘Make in India’ initiative, which aims to boost the defence and aerospace sectors. So far this year, the stock of this metal components maker has soared 93 percent, compared to a 6 percent rise in the benchmark Nifty 50 index. PTC Industries supplies and manufactures earth-moving equipment, fork machine tools, pumps, and spare parts. It is also an exporter of stainless steel casting and non-ferrous alloy.…

A power of attorney (POA) is a legal document that grants someone the authority to act on behalf of another person in specific legal or financial matters. In India, the execution and use of power of attorney deeds are governed by the Power of Attorney Act, 1882.

A promissory note is a legally binding document that contains a written promise by one party (known as the maker or promisor) to pay a specified sum of money to another party (known as the payee or promisee) either on demand or at a specified future date. In India, promissory notes are governed by the Negotiable Instruments Act, 1881.

A gift is a voluntary transfer of property or assets from one person (the donor) to another (the donee) without any consideration or compensation. It is governed by the Transfer of Property Act, 1882, in India.

In India, the Indian Succession Act, 1925, governs the creation and execution of wills. Here are the detailed criteria for who can make a will: Types of Wills in India Execution and Validity of Wills For a will to be valid, it must meet the following criteria: Revocation of a Will A will can be revoked or altered by the testator at any time before their death. Methods of revocation include: Understanding these details about who can make a will and the various types of wills helps ensure that individuals can effectively plan the distribution of their assets according to…

E-contracts, or electronic contracts, are legally binding agreements created and signed electronically. In India, the Information Technology Act, 2000 (IT Act) provides the legal framework for e-contracts, making them as valid and enforceable as traditional paper contracts. Here are the main types of e-contracts commonly used: Click-Wrap Agreements: Browse-Wrap Agreements: Shrink-Wrap Agreements: Sign-In-Wrap Agreements: E-Mail Contracts: Electronic Data Interchange (EDI) Contracts: Digital Signature-Based Contracts: Online Terms and Conditions: Mobile Contracts: Legal Recognition and Enforceability The IT Act, 2000, specifically recognizes the validity of electronic records and digital signatures, ensuring that e-contracts are legally enforceable. The Act stipulates that: Conclusion E-contracts…

Raymond Limited witnessed a surge in its stock price to a record high on June 10 after its real estate arm was chosen as the “preferred developer” for the redevelopment of MIG VI CHS Ltd in Mumbai’s Bandra East area, as announced by the company on June 8.

Textiles firm Mafatlal Industries witnessed a 15% surge in its stock price on June 15 following the announcement of an agreement with the Defence Research and Development Organisation (DRDO) and the defence ministry. The deal involves the production and sale of anti-microbial bed sheets.