Author: Legal Parivar

The primary market is set to remain busy as ten new companies, including two in the mainboard segment and eight in the small and medium enterprise (SME) segment, are preparing to launch their initial public offerings (IPO) in the upcoming week. In addition to new public offerings, the market will also witness 11 new listings next week. Last week, the IPOs of DEE Development Engineers and Akme Fintrade received strong responses from investors, with overall subscriptions reaching 99 times and 55 times, respectively. Here are the IPOs open for subscription next week: Allied Blenders and Distillers IPO Vraj Iron and…

Four members of the Hinduja family, known as Britain’s wealthiest clan with an estimated net worth of £37 billion ($47 billion), were sentenced to jail by a Swiss court on Friday. The court criticized them for exploiting Indian staff at their Geneva residence, describing their actions as “selfish.” While cleared of human trafficking charges, Prakash Hinduja, Kamal Hinduja, Ajay Hinduja, and Namrata Hinduja were found guilty of other offenses. Prakash Hinduja and Kamal Hinduja received four years and six months each, while Ajay Hinduja and Namrata Hinduja received four-year terms, according to the presiding judge in Geneva. The Hinduja Group,…

Defence PSU Garden Reach Shipbuilders & Engineers Limited (GRSE) entered into an agreement on June 22 with German firm Carsten Rehder Schiffsmakler and Reederei GmbH & Co KG for the construction and delivery of four multi-purpose vessels, each with a capacity of 7,500 DWT (Deadweight Tonnage). The contract, valued at $54 million, includes an option to build an additional four ships in the future. Under the terms of the agreement, GRSE will design, construct, and deliver these vessels within a period of 33 months. The ships, measuring 120 meters in length, 17 meters in width, and with a maximum draft…

The Cost of Carry Model is used to determine the fair price of a futures contract based on the relationship between the spot price of the underlying asset, the cost of holding or carrying that asset until the futures contract expiration, and any benefits or costs associated with holding the asset. Components of the Cost of Carry Application in Different Markets Example Scenario: Calculation of Cost of Carry (C): C = r – y = 0.08 – 0 = 0.08 Calculation of Fair Futures Price (F): F = S + C = 40,000 + 0.08 * 40,000 = 40,000 +…

An anonymous tip-off to Patna police on May 5, just hours before the NEET-UG exam, about “four suspected criminals in an SUV headed to a safe house” exposed a nationwide fraud network, plunging the medical entrance test into controversy and creating uncertainty for lakhs of aspirants. Acting on this tip, a team from Patna’s Shastri Nagar police station intercepted four suspects who then led them to a meeting place in Ram Krishna Nagar. There, around 30 NEET-UG candidates had allegedly gathered to memorize leaked questions and answers. Authorities have since identified dozens of medical aspirants and their “handlers.” Police Interception…

Managing debt can be challenging, but employing the right repayment strategy can make a significant difference in achieving financial freedom.

The law of torts in India deals with civil wrongs that cause harm or loss to individuals, entitling them to seek compensation from the wrongdoer.

Under the Specific Relief Act, 1963, provisions are made for the cancellation of contracts, deeds, or other instruments under specific circumstances where the court finds grounds such as fraud, coercion, mistake, or incapacity. Grounds for Cancellation: Effect of Cancellation: When an instrument is cancelled by the court, it is rendered void ab initio, which means it is treated as if it never existed. The parties are restored to their original positions before the contract or instrument was executed. Cases: 1. Satish Kumar Sharma v. Santosh Kumari (2007): In this case, the Delhi High Court dealt with a dispute where the…

Recovery of Immovable Property: Recovery of Movable Property: Conclusion: The provisions for the recovery of possession of immovable and movable property under the Specific Relief Act, 1963, are crucial in protecting property rights and providing legal remedies against unlawful possession or withholding of property. These provisions enable individuals and entities to seek judicial intervention to reclaim their rightful ownership or possession, thereby upholding the rule of law and safeguarding property interests in civil disputes.

Specific performance is a remedy provided by the courts under the Specific Relief Act, 1963, where a party is directed to perform a specific act that they are obligated to perform under a contract or other legal obligation. This remedy is typically sought when monetary compensation would be inadequate to remedy the breach of contract, and the act in question is capable of being performed.