July 2024

Section 24 – Arbitration And Conciliation Act, 1996

Arbitration And Conciliation Act, 1996 / /

Hearings and written proceedings (1) Unless otherwise agreed by the parties, the arbitral tribunal shall decide whether to hold oral hearings for the presentation of evidence or for oral argument, or whether the proceedings shall be conducted on the basis of documents and other materials : Provided that the arbitral tribunal shall hold oral hearings, at an appropriate stage of the proceedings, on a request by a party, unless the parties have agreed that no oral hearing shall be held: [Provided further that the arbitral tribunal shall, as far as possible, hold oral hearings for the presentation of evidence or for oral argument on day-to-day basis, and not grant any adjournments unless sufficient cause is made out, and may impose costs including exemplary costs on the party seeking adjournment without any sufficient cause.] (2) The parties shall be given sufficient advance notice of any hearing and of any meeting of the arbitral tribunal for the purposes of inspection of documents, goods or other property. (3) All statements, documents or other information supplied to, or applications made to, the arbitral tribunal by one party shall be communicated to the other party, and any expert report or evidentiary document on which the arbitral tribunal may rely in making its decision shall be communicated to the parties.

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Section 23 – Arbitration And Conciliation Act, 1996

Arbitration And Conciliation Act, 1996 / /

Statements of claim and defence (1) Within the period of time agreed upon by the parties or determined by the arbitral tribunal, the claimant shall state the facts supporting his claim, the points at issue and the relief or remedy sought, and the respondent shall state his defence in respect of these particulars, unless the parties have otherwise agreed as to the required elements of those statements. (2) The parties may submit with their statements all documents they consider to be relevant or may add a reference to the documents or other evidence they will submit. [(2A) The respondent, in support of his case, may also submit a counter claim or plead a set-off, which shall be adjudicated upon by the arbitral tribunal, if such counterclaim or set-off falls within the scope of the arbitration agreement.] (3) Unless otherwise agreed by the parties, either party may amend or supplement his claim or defence during the course of the arbitral proceedings, unless the arbitral tribunal considers it inappropriate to allow the amendment or supplement having regard to the delay in making it. [(4) The statement of claim and defence under this section shall be completed within a period of six months from the date the arbitrator or all the arbitrators, as the case may be, received notice, in writing, of their appointment.]

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Section 22 – Arbitration And Conciliation Act, 1996

Arbitration And Conciliation Act, 1996 / /

Language (1) The parties are free to agree upon the language or languages to be used in the arbitral proceedings. (2) Failing any agreement referred to in sub-section (1), the arbitral tribunal shall determine the language or languages to be used in the arbitral proceedings. (3) The agreement or determination, unless otherwise specified, shall apply to any written statement by a party, any hearing and any arbitral award, decision or other communication by the arbitral tribunal. (4) The arbitral tribunal may order that any documentary evidence shall be accompanied by a translation into the language or languages agreed upon by the parties or determined by the arbitral tribunal.

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Section 20 – Arbitration And Conciliation Act, 1996

Arbitration And Conciliation Act, 1996 / /

Place of arbitration (1) The parties are free to agree on the place of arbitration. (2) Failing any agreement referred to in sub-section (1), the place of arbitration shall be determined by the arbitral tribunal having regard to the circumstances of the case, including the convenience of the parties. (3) Notwithstanding sub-section (1) or sub-section (2), the arbitral tribunal may, unless otherwise agreed by the parties, meet at any place it considers appropriate for consultation among its members, for hearing witnesses, experts or the parties, or for inspection of documents, goods or other property.

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Differences between MOA and AOA

Business / /
Know the Key Differences between MOA and AOA

The MOA (Memorandum of Association) and AOA (Articles of Association) are the two foundational documents required for incorporating a company. The MOA is the constitution document of the company consisting of all its basic details and the AOA is a document which contains all the rules and regulations formulated by the company for its internal management. Detailed Difference between MOA and AOA Parameter MOA AOA Defines Basic details of the company Rules and regulations abided by the company Subordinate to Companies act Memorandum Components Clauses as defined in the following sections Can be modified as required Nature Public Private Amendable Cannot be amended retrospectively Can be amended retrospectively Required for Every company Private companies Needed during registration Yes No What is a MOA (Memorandum of Association)? The Memorandum of Association (MOA) is considered as the constitution or Charter of the Company, as it contains all the basic legal information about it, including its name, address, purpose of establishment, capital, and nature of liability of its shareholders. The document is drafted by all the directors of the company and is signed by all its shareholders. It is submitted to the ROC for registration during the incorporation of the company.The MOA of an existing company is a publicly accessible document and all the details it contains are available for public verification and inspection. So, it can also be said that a company cannot be formed without a Memorandum of Association of MOA. The MOA defines the objectives, powers and scope of the company beyond which the company is not allowed to operate, i.e. it limits the scope of the company’s activities. Every member and officer of the company, such as its shareholders, creditors, investors, etc., should be familiar with the MOA to understand the overall scope and objectives of the company. What is an AOA (Association and Article of Association)? AOA is a legal document which defines the rules and regulations of the company formulated for its internal administration and day to day management. In this context, the Articles of Association specifies the rights, responsibilities, powers and duties of the members and directors of the company, and also provides information on how a company should maintain its account and audit records.All companies should draft their Articles in a manner specific or suitable to their own needs and requirements. The document is drafted by the directors of the company and signed by all its shareholders. Like the MOA, the AOA is also required to be submitted to the ROC during the incorporation of the company. After incorporation, even the MOA becomes publicly accessible and available for public viewing and inspection. What is the Difference Between MOA and AOA? The first difference between MOA and AOA is that MOA describes the powers and objectives of the company while AOA defines its rules. In the event of any inconsistency between the Memorandum and the Articles of Incorporation as to any provision, the Memorandum of Association shall prevail over the Articles of Association. The memorandum of association contains information about the company’s powers and objectives. Conversely, articles of association provide information about the company’s rules and regulations. To amend the MOA, a special resolution must be passed at the Annual General Meeting with the prior approval of the central government, while amendments to the AOA can only be made by a Special Resolution (SR) at the Annual General Meeting (AGM). At the time of incorporation, the MOA is required to be registered with the Registrar of Companies. In the case of AOA, the company is not required to meet such requirements, although there is a provision for voluntary registration. MoA Vs AoA : Difference Table Points of Difference Memorandum of Association Articles of Association Objective The major objective of creating the MOA of a Company is to define the relationship between the Company, its shareholders, all third parties. The major objective of creating the AoA of a Company is to define the relationship between the company and its internal management. Purpose The MOA contains all the foundational legal information about the company available with the ROC, like its name, registered address, capital, liability, and primary business activity. The AOA contains the rules, regulations, and procedures involved in the internal management of the company. Legal Provisions Section 4 of the Companies Act deals with the provisions for MOA of a Company. Section 5 of the Companies Act deals with the provisions for AOA of a Company. Supremacy The MOA is drafted in accordance with the provisions of the Companies Act, 2013. So, beyond the Act, the MOA is the most supreme document of the company, and any other draftings or filings cannot contain any information or provision which violates the content of the MOA. The AOA is drafted in accordance with the Companies Act, 2013, and the MOA of the Company. So, it cannot contain any provisions which violate the provisions of the Companies Act, or the MOA of the Company. Structure & Content The content of the MOA is divided into 6 different clauses, containing specific information in each of these clauses. Among these clauses are, the name clause containing the legal name of the company, the situation clause containing its registered address, the objective clause containing all its business activities, the clauses for liability and capital containing details regarding the liabilities of the shareholders and their capital subscription respectively. The format of AOA is categorized into different tables, applicable for different kinds of companies. For instance, the AOA of a Company limited by shares is drafted according to TABLE F format. Further, each of these tabular formats are divided into articles containing the rules and regulations for the internal management of the company. Applicability It is mandatory for all types of companies to draft their Memorandum of Associations in the prescribed formats and submit to the ROC during their incorporation. Although it is mandatory for all types of companies to draft their Articles of Associations, it is not mandatory to submit the same to the ROC during incorporation. FAQs How to find the

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Gratuity Calculator

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gratuity calculator

Any employee of a private company that provides EPF facilities is eligible to receive an amount as gratuity after completing 5 years of service. However, an employee is also eligible to get the gratuity before five years if he/she gets injured and disabled in an accident or due to a disease. G All gratuity payments are controlled by the laws laid down under the Payment of Gratuity Act 1972. The amount depends on the last drawn salary and the years of service served to the company. What is Gratuity? Gratuity refers to the amount that an employer pays his employee, in return for services offered by him to the company. However, only those employees who have been employed by the company for five years or more are given the gratuity amount. It is governed by the Payment of Gratuity Act, 1972. The employee can get the gratuity before five years if he/she gets disabled in an accident or due to a disease. Gratuity mainly depends on your last drawn salary and the years of service which are rendered to the Company. Gratuity Calculation Formula G = n*b*15/26 In the formula, the values are the following. N/n The number of years you have worked in the concerned organisation B/b Last drawn basic salary plus Dearness Allowance (DA) G Gratuity amount you are eligible for For example, if individual A has worked with an organisation for 5 years, and your basic salary plus DA amounted to Rs. 30,000 every month, you are eligible to receive 5*30000*15/26 = Rs. 86,538.46 as gratuity. Note that under the existing laws – Your gratuity cannot exceed Rs. 10 Lakh in its entirety. Any amount beyond this upper limit is called ex gratia payment. Also, if you have worked for, say 17 years and 6 months, the figure will be rounded off to the nearest single digit or 18 years. What are the Eligibility Criteria for Payment of Gratuity? You should be eligible for superannuation. You should have retired from service. You should have resigned after continuous employment of five years with the company. In case of your death the gratuity is paid to the nominee, or to you on disablement on account of a sickness or an accident. How can a Gratuity Calculator Help You? Under the Payment of Gratuity Act of 1972, you are eligible to receive the gratuity amount provided – You are near the age of superannuation. You have completed 5 years of work in the same organisation continuously. You do not have any other full-time employer. In such cases, a gratuity calculator online in India is useful because – It helps you ascertain the precise amount due to you. It saves you valuable time and other resources. You can use it from the comfort of your home. It helps you in long-term financial planning. FAQs I have worked for 16 years and 4 months. How many years’ worth of Gratuity will I receive? The laws are framed to round off the total employment period to the nearest full year. In your case, gratuity will be calculated for 16 years. It would be 17 years if you had worked for 2 more months. Can I also calculate ex gratia payment using this calculator? Yes. Anything above Rs 10 Lakh is automatically calculated as your ex gratia payment.

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Andhra Pradesh Encumbrance Certificate

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Encumbrance certificate is a legal document that includes registered transactions related to a property. It is a proof that your property is free from any monetary or legal dues. The citizens of Andhra Pradesh can avail Encumbrance Certificate online from the website developed by the Registration and Stamps Department, Government of Andhra Pradesh. Besides providing the facility to get a certified Encumbrance Certificate online, the website also offers various other services and facilities including Stamp Duty Fee Calculator, Village Directory, List of Transactions of the concerned property, etc. Details in Andhra PrEncumbrance Certificate Encumbrance Certificate will contain the name of the property owner EC also includes details of a property   This document will provide the complete property description as recorded in the Sale Deeds Transactions related to a property will be mentioned in EC. The transactions details will be listed in chronological order If the land is bought by loan then online EC Andhra Pradesh will contain details about a mortgage For gifted deeds, details on gift settlement will be given in EC Release Deed details will also be available in case of one of the partner released his share from the mutually purchased property Applicable Fee for EC Fee for conducting search and issue of Encumbrance certificates in Andhra Pradesh is below for reference: S.No  Service Fee 1 Up to 30 years Rs.200 2 More than  30 years Rs.500 Processing Time The AP encumbrance certificate can be obtained within a day. Encumbrance Search or Statement The applicant can search encumbrance online through Andhra Pradesh Registration Department online portal. Note: Online eEC is available for transaction post 01-01-1983 only. Hence if anyone requires EC before 01-01-1983, they should approach SRO office concern. Search for eEC can be made by Document Number or Memo Number. How to Get Andhra Pradesh Encumbrance Certificate Online Step 1: Visit the website of Andhra Pradesh Registration & Stamps Department at http://registration.ap.gov.in/.Step 2: Click on the ‘Encumbrance Certificate (EC)’ link from the ‘Services’ section.Step 3: A new page will appear wherein you will be asked to choose the ‘Search Criteria’ and fill out the corresponding fields.Step 4: Enter the ‘Year of Registration’ and Captcha Code and click on the ‘Submit’ button. FAQs What is an encumbrance certificate? An encumbrance certificate is a legal document that confirms that a property is free from any mortgages or monetary liabilities. It is essential when buying or selling property, applying for loans, or for other legal purposes.   How can I apply for an encumbrance certificate in Andhra Pradesh? You can apply for an encumbrance certificate at the Sub-Registrar Office (SRO) where the property is registered. You need to submit an application form, proof of identity, address, and property details along with the prescribed fee.

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labour card holder information

Government Schemes / /
labour card holder information

The government of Rajasthan has initiated the Shramik Card Rajasthan Scheme to extend various kinds of advantages to the employees of the state. Under the terms of this program, every worker in the state will be provided with the opportunity to have a Labour Card or majdur card through the e Shramik portal. Those families supported by labour will be eligible for aid from a variety of government programmes, including housing, insurance, health care plan, Shubh Shakti Yojana, and maternity assistance, amongst others. What is Labour Card? A majority of the Indians earn their livelihood from agriculture and daily wages. The Government of India and all state governments have issued an Identity Card to support them and their families. This card is known as a Labour Card. The beneficiaries can avail of a variety of services and facilities through this card. To put it another way, a labour card is an identity card issued by the state government’s labour department that takes care of a labourer’s safety, development, education, and security. Types of Labour Card Building Card Social Card Building Card: A Building Card is available to those who work under the supervision of a licenced contractor. These cardholders are eligible for nearly all of the scheme’s benefits. Social Card: A Social Card is issued to workers involved in non-building work, agriculture, and farming. These beneficiaries are entitled to Health Insurance Benefits. What is the purpose of the Shramik Card Rajasthan / Majdur Card? Employees of the informal sector are eligible to submit an application for a labour card. With the assistance of the Shramik Card Rajasthan, workers are able to benefit from the large number of welfare programmes by the central and state governments. With the use of the labour card, workers are able to get advantages like healthcare coverage, a children’s scholarship programme, medical emergency treatment, and insurance, among other things. It also helps the government understand the total number of people working in the unorganised sector in their state. Eligibility Criteria to Apply for a Labour Card You should be aged between 18 years and 40 years. You should be an unorganised worker. You must be a citizen of India. You should not be employed in the organised sector or a member of EPF/NPS/ESIC. Your monthly salary should not exceed Rs.15,000. You must not be an income taxpayer. You must be a resident of the state in which you are applying. Documents Required to Apply for a Labour Card Aadhaar card Ration card (optional) Bank account number Email ID Aadhaar card number of family members Mobile number Passport size photographs How to Apply/Register for a Labour Card (online)? Visit the official website of your state’s labour department. Look for the ‘New Labour Card Registration’. Now, from the drop-down menu, choose your District. Provide your details such as your first name, last name, email address, and mobile number. Enter your Aadhaar card number. Verify your mobile number and email address. Click on ‘Submit’. Benefits of Labour Card Free education and life insurance benefits. Cardholders can avail of free health insurance under PM Aysuhman Bharat Yojana, Biju Swathya Kalyan Yojana, etc. Assistance is provided to women during pregnancy and childbirth. Assistance is provided in the case of death or injury due to an accident. Scholarships for children’s education. Financial assistance for the purchase of shovels and other types of equipments. Home loans can be availed. Assistance for skill development. Financial assistance for the marriage of the cardholder’s daughter. FAQs Do I need to renew my labour card? Yes. Once your labour card expires, you have to renew it. Is the labour card the same as the NREGA job card? No. The NREGA job card is not the same as a labour card.

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Bihar Land Possession Certificate

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bihar land possession certificate

Possession certificate is an important document that the developer has to provide to the buyer stating the date of possession. You can also use this certificate to get a loan from the bank. Also, remember that if you are purchasing a property, the erstwhile owner has to produce the certificate to you. You can include your property in land revenue records through this certificate. Benefits of Obtaining Land Possession Certificate For buying and selling agriculture land on a regular basis or occasional basis, these documents have to be produced. Possession certificate is mandatory for obtaining the loan on the movable or immovable property. This ownership certificate is saving the owner from fraud and misappropriation. Possession Certificate is protecting the owner from other litigation. In case of property tax is not paid, Possession Certificate needs to be produced with the concerned officer for updating the land tax records. Documents Required Copy of application form Ration card Sale deed and registered lease agreement copy Encumbrance certificate (Form 15) Income certificate Passport-size photograph Applicable Fee Land Possession Certificate (LPC) service does not require any payment for processing. The user has to pay a service charge to the concerned office. S.No    Service Service Charge 1. Land possession Certificate for Citizen of APL Rs.10 2. Land possession Certificate for Citizen of BPL Nil Certificate Processing Time In Bihar, the land possession certificate will be issued within 10 to 15 days from the date of application. Concerned Authority Bihar citizens can submit the application forms relating to land possession certificate services at the nearest Anchaladhikari office or Right to Public Service (RTPS) office in the state. How to Apply for Possession Certificate in Bihar Step 1: You can visit the concerned Anchaladhikari office or Right to Public Service (RTPS) office. Step 2: You can get your application form for possession certificate from these offices. Step 3: Alternatively, you can download the form from the Revenue and Land Reforms, Government of Bihar website (http://lrc.bih.nic.in/) Step 4: Fill in the application form with the required details. Step 5: Attach all the required documents and submit the form to the concerned office. Step 6: You will receive an acknowledgement receipt along with an application number upon verification, which you can use to check your application status. FAQs What is a Bihar Land Possession Certificate? Bihar Land Possession Certificate is an official document that proves the possession of a particular piece of land by an individual or entity. It is issued by the Bihar government. Why do I need a Land Possession Certificate? Prove ownership or possession of land. Apply for loans or subsidies. Settle legal disputes related to land. Carry out land transactions like selling or leasing.

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