Corporate Fraud has always been side-lined by our society as the impact of it, is not understood by many. The media has always given more attention to blue-collar crimes as they hold the attention of people more than white collar crimes. Most of the people believe fraud to be a part of business and don’t realise the consequences which will affect them. Being unaware about such topics makes a person vulnerable to these crimes as unlike other crimes, corporate fraud can affect any number of people. The social and economic effects of Corporate Fraud is immeasurable as the number of people affected is enormous. Fraud has been present in our world since time immemorial, even with proper laws corporate fraud has not shown any intention of slowing down. It has quickly spread its wings aggressively affecting our global economy. The influential people are mostly behind these frauds which makes it difficult to detect it or find any evidence relating to it. Hence there is often no conviction in these cases. The prevention of these frauds in the earlier stages is of utmost importance to make sure the company is safe from fraudulent activity. Corporate Fraud is a very serious issue and it should be treated as such before it becomes a norm for employees or executives to participate in unethical ways to gain more money. Some of the cases of Corporate Fraud such as Enron scandal or the Saradha group scam are good examples to understand the seriousness of this crime. This article briefly explains the effect of corporate fraud in our world economy with the help of some well-known corporate frauds which have previously done some serious damage to the respective country’s economy which in turn affected the economy globally.
This article studies about “ Flag of Convenience and its repercussion on seafarers”, following that this article will include brief introduction with historical view of it , how its convenience are very much inconvenience for labor or common people and for welfare of state . Its impact on seafarer and what are the laws for the preventions, proponent and consequences of the process with a clear conclusion .
Product Liability is an emerging law which deals with protecting the rights of consumers. Many times, manufacturers or suppliers sell a defective product which ends up harming a consumer, this field of law makes sure that such harm caused doesn’t go unnoticed and a consumer is compensated for the loss caused to him. Under this law, the sellers are held liable for providing such faulty products/services. This article focuses on the global perspective of product liability by studying the laws enacted by different countries and their applicability to the affected parties.
Authored by Sharyu Rumde, School of Law, University of Mumbai.
India has a long history of dealing with the sea and has a distinct tradition of many years of trade and commerce within and beyond its territorial borders. The history of the Indian Ocean dates back to the 3rd millennium BC when many ships sailed from India to and from India. Therefore, although there is no codified law as it exists today, customs and regulations relating to the sea and maritime activities have existed since ancient times. This article analyses Maritime Law in India and the law on ship arrests, including the jurisdiction of ship arrests in India, permissible arguments, and procedural issues. Prior to independence, maritime law in India was governed by the British Government. Coastal Vessels Act, 1838, Inland Steam Vessels Act, 1917, Admiralty Crimes (Colonial) Act, 1849, Indian Registration of Ships Act, 1841, Indian Ports Act, 1908, Shipping Control Act, 1947 with various aspects of the sea in India.
“Demerger” can be defined as the division or division of a company into multiple companies. New, transferable companies do not have to be parental corporations that have been split or disbanded. The New Oxford Dictionary defines “demerger” as “to divide a large company into two or more entities.”Justice NV Balasubramanam noted that the Dismissal Scheme is a corporate partnership in two or more areas, thus retaining some of it and transferring the rest to the company or companies to which it has led. It is a business plan. The term ‘demerger’ is not defined in the Companies Act, 1956.
The advent of technology and internet forums has accelerated global economic growth. This greatly facilitated the process of collecting, processing and spending money on price trading in the hands of large companies and start-ups. Often referred to as ‘big data’, this concept calls for a large amount of high-quality data collected and processed by computer software to produce unique data for high-value commercial data. whether big data use affects market competition. Even under compulsory provision, access to big data can lead to unethical behaviour. For example, large businesses need to enter into special agreements with data companies’ analysts and data providers to gain competitively competitive data. They can also predict the market by making it difficult for their users to use or accept their competitors’ platform.
Tax goods and services (GST), the category tax applied to the various categories of goods and services are recognized as one of the most significant changes in indirect tax in India. GST is said to be a tax based on location or usage. Therefore, the location of use will determine the State that will collect the tax. Basically, taxes can be based on the origin or the source. Real estate tax or production tax is levied on the production of goods or services. Local taxes or usage taxes are levied on where goods and services are confiscated. In the area of tax-based taxation, estimates are allowed for non-existent tax rates, and the estimates are taxed in accordance with domestic production. Therefore, in terms of existing tax law, the collected SGST will generally increase in the State where the consumer of goods or services sold resides and not in the State where the goods are manufactured.
The enactment of the Competition Act, 2002 (the Act), the principal legislation governing compe-tition law in India, along with the establishment of the Competition Commission of India (CCI) as its chief enforcement authority, has been one of the biggest game changers in the Indian regulatory space. As with competition regimes in mature jurisdictions, India’s competition law covers the regulation of anticompetitive conduct, abuse of dominance and unilateral conduct, and combi¬nations. This chapter focuses on the enforcement of provisions relating to abusive conduct of enterprises and explores the evolving trends in this area.
This research paper provides an overview of commercial law that deals with securities law and cross-border regulation. The article deals with securities law that talks about the history of the U.S federal system. The article conveys the Securities and Exchange Commission (SEC) that enforced the securities law. The article also discusses the regulations of cross border and cross-border enforcement to facilitate cross border transactions.
Environmental assessment is taken up in this exercise as a rapid assessment technique for determining the current status of the environment and identifying impact of critical activities on environmental parameters. EIA is a relatively new planning and decision-making tool first enshrined in the United States in the National Environmental Policy Act of 1969. It is a formal study process used to predict the environmental consequences of any development project. EIA thus ensures that the potential problems are foreseen and addressed at an early stage in project planning and design. Creation of Environmental Impact Assessment (EIA) system is vital to conform socio-economic development projects to environmental safety and thereby ensure sustainable economic development. In view of the fact that development is an ever-growing process, its impact on the environment is also ever increasing, leading to rapid deterioration in environmental conditions.