Fair Law Practioners (FLP) articulates Corporate requirements not only to scale favours but also to promote compliances with dignity and commerical intersts intact. Corporate being separate entity has ticklish explanantions yet howwever judicious and simple explanations have no match to get over the complications. Corporate law applies to several aspects of a business, including employment, finance,Contracts, Compliances. Corporate world needs to address legal aspects of financial, commercial and real estate transactions, as well as employee relations, contracts, Employment law, Contracts, Consumer protections, Competition and other common issues encountered as part of running a business.CSR has already emerged as one full swung field which requires guided and synergised application in compliance and execution. Fair Law Practioners (FLP) goes through micro details and come out with best drafted Agrements to facilitate compliance with commerical viabilities intact. Corporate Law (Corporations law, Company law) deals with the formation and operations of corporations and is related to commercial and contract law. A corporation is a legal entity created under the laws of the state it’s incorporated within. State laws, which vary from state to state, regulate the creation, organization and dissolution of their corporations. A corporation creates a legal or “artificial person” or entity that has standing to sue and be sued, enter into contracts, and perform other duties necessary to maintain a business, separate from its stockholders.
Fair Law Practioners (FLP) provides guidelines to the company’s that how the business is conducted within the legal limits. The Corporate lawyer also looks after the clients who has some sort of criminal charges against them regarding their business activities and also legalized any new business initiative or business deal performed by an organization.
The Companies Act, 2013 passed by the Parliament has received the assent of the President of India on 29th August, 2013. The Act consolidates and amends the law relating to Companies. The Companies Act, 2013 has been notified in the Official Gazette on 30th August, 2013. The Companies amdt Act, 2015 is unfolded.New Corporate Law. New legislation recognizes the increased sophistication of business dealings and more clearly defines many aspects of Corporate governance. It also includes new provisions that require companies above a certain size to put a percentage of average net profits toward corporate social responsibility programs.
Of course, as with most Indian legislation, the devil is in the detail. Many questions will only be answered once rules are drafted by the Ministry of Corporate Affairs. Five Things one must know if dealing in Coporate:
1. Stricter rules on corporate governance: Companies can now have a maximum of 15 directors, one of which must be a woman. Listed companies must have a minimum of three directors, and private companies require at least two. Independent directors serve up to two consecutive five-year terms. Company finances must be audited regularly and auditors must change periodically. The company’s chief financial officer is now held accountable for the contents of financial statements. The law mandates only that one-third of board members be present at meetings.
2. More protection for investors: In a bid to move Indians away from investing in gold and towards financial markets, India has tried to protect investors from fraud. These efforts include the Investor Education and Protection Fund, established 12 years ago to promote investor awareness about scams. The new Companies law takes those efforts a step further by allowing for groups of investors to appeal to a National Company Law Tribunal, whose president will be someone with at least five years of experience as a High Court Judge. The tribunal will be the main enforcing authority under the new corporate law, taking the place of the existing Company Law Board. Its decisions can be appealed in an appellate tribunal. The Supreme Court is the final court of appeal for tribunal decisions.
3. Added protection for whistle-blowers: The Companies Bill 2012 requires publicly traded firms as well as others, yet to be defined, to set up a “vigil mechanism” so that employees perturbed by how the business is running can report their concerns through this system. A description of this system is supposed to be posted on a business’s website once it has been set up, as well as included in the company’s financial report.
4. Cross-border Mergers: New legislation recognizes a wider variety of transactions than the 1956 law, or subsequent amendments, such as the merger of Indian and foreign companies. Section 234 of the law says that, “A foreign company, may with the prior approval of the Reserve Bank of India, merge into a company registered under this Act or vice versa.” Section 273 states that a corporate affairs court must take action within 90 days on a petition from a creditor seeking the shutting down of a business that is past due on its debts. Once the tribunal issues an order for proceedings to move forward, the indebted company is supposed to provide a statement of its accounts within 30 days to 60 days. If it doesn’t do that, it forfeits the right to oppose the efforts to shut it down.
The FLP is competent to handle Investments by Trusts, Shareholders Agreements: Clauses and Enforceability, impelemnetation of SEBI guidelines, Real Estate issues,Corporate Criminal Liability,Corporate Governance,Corporate Social Responsibility,Contract Law,Company Law, Compliances, Arbitration, Incorporation, Audit process,inspection,inquiry and investigation, Winding up and the processes thereof. Apart form that, FLP is competent to deal with,Identify and secure intellectual property via trademarks, patents and copyright protection,Outsourcing agreements,Franchise agreements, litigation.