Intellectual Property Law
In addition to the protection provided to tangible possessions like a built home or goods, law also protects immaterial properties like works of the mind. This type of property is protected by intellectual property law and is typically done so through the use of copyrights, patents, and trademarks. In the usage, commercial viability, marketing, and distribution procedures and methods, infringement and duplication, ownership, and usage rights for any product or invention that falls under the purview of intellectual property, legal help assumes important.
Insolvency and Bankruptcy Law (IBC), 2016
Insolvency Resolution for Corporations, Partnership Entities, and Individuals as Borrowers or Personal Guarantors is provided by the IBC. Such people’ creditors (financial or operational) may file applications with NCLT to begin their insolvency. Moreover, businesses or people acting as personal guarantors or borrowers may petition the NCLT to resolve their insolvency. To maintain the intrinsic enterprise value that is embedded in such individuals, the intention is to resuscitate or rescue them first. Yet, if such a resurrection is not conceivable, the businesses must be liquidated and the people must be declared bankrupt. Liquidation or bankruptcy entails the sale of these individuals’ assets through a predetermined, open, and legitimate process with the help of the Resolution Professional/Liquidator in order to satisfy their debts.
The IBC gives Personal Guarantors a tactical chance to discharge their personal obligations for a debt obtained by a corporation and begin a new life quickly by having themselves declared insolvent or bankrupt.
Debt Recovery under SARFAESI Act/ DRT Act for Banks, Financial Institutions and Asset Reconstruction Companies
Bank loans often become Non-Performing Assets (NPAs), which forces banks to devise plans for collecting past-due debt. The SARFAESI Act of 2002 gives bank authorities the authority to seize secured assets that have been charged to them without the involvement of the courts and sell them at a public auction to raise money. If the borrower shows any resistance, the banks may use the SARFAESI Act’s enabling provision to ask the District Magistrate or CMM for help in seizing the relevant asset. The Debt Recovery Tribunals are quasi-judicial organisations created specifically to recover non-performing assets from banks and other financial institutions. The DRT recovery process consists of two steps: first, the presiding officer decides whether a debt is in default. The Recovery Officer then puts the decree for selling the assets at public auction into force in the second stage.
Recovery of Outstanding of Micro, Small and Medium Enterprises (MSMEs)
The MSMED Act stipulates that payments linked to the delivery of products and services by MSMEs must be made within 45 days in recognition of the significance and contribution of MSMEs to the Indian economy. The overdue payments of MSMEs that have been unpaid for more than 45 days must henceforth be individually disclosed in the balance accounts of all corporations, according to the Institute of Chartered Accountants of India (ICAI). Nevertheless, businesses sometimes disregard this significant benefit MSMEs receive, and their payments are not issued within the allotted time. MSMEs may go to a Forum with complaints listed under the MSME Act if such funds are not granted within 45 days.
Labor Laws/ Industrial Relations
The country’s labour laws provide the employees with enough protection to stop employers from taking advantage of them by granting them certain minimal rights. The Provident Funds, Gratuity, Pensions, Maternity Benefits, ESI, Minimum Wages, and other labor-intensive legislation that govern eligibility and payments to the workforce. Employers are required by law to apply these regulations in their workplaces, and there are provisions for sanctions and jail if this is not done. As part of good corporate governance, employers are required to comply with labour regulations. The employers are frequently perplexed by the trade unions, and they need legal and ethical guidance to balance their own interests with those of the trade unions in order to maintain a positive working relationship and supportive workplace culture.
E-Commerce
Businesses are turning more and more to electronic commerce as a means of modernizing and growing their operations as a result of the development of digital technology. E-commerce basically refers to the delivery of products and services via electronic channels. E-commerce is more likely to affect some industries than others, such as sales, distribution, finance, service, and support.
How SalahKaro can help you?
Commercial Law, Drafting and Vetting of Documents/ Notices
- Assistance on contract negotiations and closing.
- Agreements are drafted after transactions are completed to prevent confusion.
- Creating notices for a remedy or payment for agreement breaches.
- Writing appropriate responses to legal notices that have been received in the course of business.
- Bringing claims in the arbitration process, selecting qualified arbitrators, and invoking arbitration clauses in contracts.
- Creating, submitting, and opposing legal documents for business lawsuits.
- Where necessary, appeals should be filed with the appropriate court.
Incorporation of Companies and Limited Liability Partnerships (LLPs), Mergers, Amalgamation, Acquisition, Compromise & Arrangement
- Information on how to change a proprietorship into a company or LLP.
- Advice on the legal requirements, corporate structures, and governance; how to draught articles of association and memorandums of association; how to incorporate with the Registrar of Companies (ROC); how to apply for a director identification number (DIN); and how to get a certificate proving the start of a business.
- listing on the BSC or NSC and instructions for maintaining periodic listing compliance.
- Executing corporate purchases, mergers, and amalgamations, preparing the relevant paperwork, and, if necessary, turning to the Company Court.
Intellectual Property
- Registering your intellectual property, such as your trademarks, copyrights, patents, designs, and geographical indications, and supporting you in submitting the application and opposing it before the appropriate tribunals;
- Until the final issuance of Certificates is given, preparation of arguments, expression of ideas, counsel, and legal representation before Tribunals.
Insolvency and Bankruptcy Law (IBC)
- Drafting and submitting petitions in the Company Court for the start of the Corporate Insolvency Resolution Process (CIRP) or the insolvency of personal guarantors, private citizens, or partnership firms
- Advice on corporate liquidations and personal bankruptcies.
- recommending the names of qualified insolvency professionals whom the court may employ to further the insolvency procedures
- Advice on how to navigate the insolvency and liquidation proceedings to safeguard the company’s interests and prevent outside parties from attacking it.
- Personal guarantors are given advice when corporations or individuals declare themselves insolvent or bankrupt so they can take advantage of the chance to quickly restart their lives and businesses.
- Pre-bankruptcy advice for businesses showing signs of insolvency
Debt recovery under SARFAESI Act/ DRT Act for Banks, Financial Institutions (FI), and Asset Reconstruction Companies (ARCs)
- Making arguments on behalf of clients to ensure a favorable judgment in their favor, drafting and filing recovery applications with DRT, executing of the recovery certificate, attachment of the guarantor’s personal assets, and sale assets covered by the recovery certificate are all examples of services that are provided.
- On behalf of Financial Institutions, we draught notices in accordance with Section 13(2) of the SARFAESI Act, handle responses we receive to those notices, apply to the DM/CMM for custody of the secured asset, coordinate with the police to take actual physical possession, assist with the delivery of the proper notices on the secured asset, draught a CL Notice to be published in the newspaper, conduct sale marketing, and issue a sale notice.
- We evaluate and direct the legality of the activities for the Borrowers against whom SARFAESI action has been filed by a bank or Financial institution in order to protect their interest.
- Advice on how to conduct legal due diligence on the assets purchased with ARCs.
Recovery of Outstanding of Micro, Small and Medium Enterprises (MSMEs)
- If a payment to an MSME is not made within 45 days, the preparation of legal notices for the release of outstanding payments.
- If the money is still not released, you can file a complaint and argue your case before the Facilitation Council.
Labor Laws/ Industrial Relations
- Providing direction to employers and establishments for the systematic observance of all applicable labor rules, creating a gratuity fund, or making PF or ESI contributions.
- Examining and responding to the Inspectors’ or Commissioners’ notices of non-compliance in order to prevent penalties and punishment.
- Assisting employers in creating and training their own HR teams and informing them of legal obligations.
- Assisting employers in trade union talks or meetings over employee welfare initiatives or salary increase requests for the establishment’s peace and quiet.
E-Commerce
- Helping e-commerce companies put up platforms that adhere to all applicable legal requirements, including information technology law, cyber law, consumer law, privacy law, and law governing the sale of goods and services.
- Advice to the aforementioned platforms when creating their rules and legal content for website display, such as the terms of service, cookie policy, etc.
- Assisting with legal compliances for legal metrology.
- Conducting due diligence and creating papers for vendor interactions.
