Valuation of Shares and the Importance of Disclosures in the Indian Securities Market

One question that boggles the mind of all players in every stock market is “What should be the true value of the shares?” To a market regulator, this question is of much more importance. It is the regulator’s duty to take all appropriate measures to ensure that the shares should be priced so as to reflect the fundamentals of the company. Otherwise, it may result in astronomical losses to all the players of the market, from individual investors to big corporate giants.Before the liberalization of...

Corporate Social Responsibility: From a Moral Duty to a Statutory Mandate

The theory of corporate social responsibility revolves around the discretionary, ethical, legal and economic expectations placed on businesses by society, Ethics, in this case, pertains to the perceived duty of businesses to adhere faithfully to law and avoid activity that undermines the welfare of investors, consumers, employees and citizens in the pursuit of profit. To some it conveys the idea of legal responsibility or liability; to others, it means socially responsible behavior in the...

Rahul an achiever in the true sense

Nineteen year old law student who strides as an overachiever, Rahul Bajaj’s visual impairment has never deterred him from achieving his stations. At present, a student of law at Nagpur University, Rahul secured 97 per cent in Class X and 95 per cent in Class XII, for which he was awarded the Dhirubhai Ambani Scholarship from Reliance Foundation and a scholarship from the Director of Higher Education, Government of Maharashtra.Rahul faced visual impairment since birth due to a rare retinal...

Expanding horizons of data protection in cyberspace: Court orders negligent bank and mobile service provider to pay compensation

In September last year, an allegation of fraudulent siphoning of 19 Lakhs was made out via an ICICI current bank account of Sanjay Dhande, a former Director of IIT Kanpur. The account was jointly owned by Dhande and his wife and they were using mobile phone banking, using the services of Vodafone. The sim was registered in his wife's name. Peculiarly the sim had stopped working around the 6th to 9th of September, 2013 during which time the fraudulent siphoning of funds via a foreign IP...

Legislations enacted/ amended in 2013: A snapshot

1.      The Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2012:This Act seeks to amend the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. The Act proposes to provide for conversion of any part of debt into shares of a borrower company.  The Act proposes to include multi-state co-operative banks in the definition of banks in the existing...

Social Networking in Prison; Extent of Prisoner's Right to Communication

The media revelation earlier this month, that the accused in the highly controversial, T.P. Chandrasekharan (Revolutionary Marxist Party leader) murder trial, were social networking from their prison cells, spurred yet another round of political hue and cry in Kerala. On questions at the abhorrent lack of discipline in the State’s prisonsbeing raised, the Kerala Home Minister, Thiruvanchoor Radhakrishnan, eager to save his face, quickly pacified everyone with assurances of taking immediate steps...

All About Internships: Mechanics and Expert Speak (Part III)

An internship is beneficial as long as you try and make the most of your experience. By and large, internships don't have any downside, with the exception of no financial rewards. You will be well advised to approach them as an opportunity for gaining experience and free training. An internship will not guarantee you a job in the future. But it will give you the opportunity to work closely with professionals in your chosen field,and help you in...

Everything You Would Want To Know About Common Law Admission Test (CLAT)-2014

A regular growth has been witnessed in the number of students opting for law. In CLAT-2013, almost 31,000 students appeared for the admission test with only about 1,600 seats available in various national law universities. For the 2014 test, GNLU expects more than 35,000 students to appear for it. The Common Law Admission Test for the year 2014 will be held on 11th May, 2014 i.e.; Sunday between 3:00pm to 5:00 pm, which is being organized by Gujarat National Law University.Various National Law...

All About Internships: Value and Avenues (Part II)

Value of InternshipsEducational ValueThat an internship is a valuable opportunity for students to apply and hone the knowledge and skills acquired in the classroom, is well known. By working in a real work setting one can put to work all the knowledge learned in a classroom. Law internships, in particular, are the best way to gain real life experience in a law firm that in turn positions you well for your future career. Practical on-the-job experience under the mentorship and direction of...

Review of the Implementation Aspect of Food Security legislation in India

The Food Security Bill, 2011, one of the key legislations introduced by the current UPA government, is a project which, if implemented in the right manner, has the potential to eliminate endemic hunger in the country. However, since the time it has been introduced it has received a lot of flak. It is being seen as a mere reshuffling of the prevalent Targeted Public Distribution System (TPDS) having missed out on an opportunity to plug the loopholes in the existing system.The need for Food...

The VVPAT Ruling: Worth Celebrating?

In a recent ruling, the Supreme Court (SC), in the case of Subramanian Swamy vs Election Commission of India (ECI), has held that VVPAT (Vote Verifiable Paper Audit Trial) is “indispensable for free and fair elections”. In accordance to that, the Supreme Court has directed the ECI to equip Electronic Voting Machines (EVMs) with VVPAT systems to “ensure accuracy of the VVPAT system”. This ruling is being hailed as another landmark judgment by the Supreme Court in the wake of the upcoming General...

Business of Oil: An Emerging Practice Area for Lawyers

When traditional practice areas of law reach a saturation level, lawyers and law firms look towards emerging practice areas- areas representing new avenues or markets.  The aim is to establish an advantageous position before competition catches up. Emerging practices can either be whole new areas of legal practice or traditional legal practices applied to an entirely new purpose. Quite obviously, the new niche practice areas call for a different mindset and unique skills set.It is universally...