Industrial Relations Code 2020 — Dispute Resolution & Rights
The Industrial Relations Code, 2020 provides the following dispute resolution mechanisms in brief:
- Grievance Redressal Machinery: A system set up in every establishment for resolving individual worker grievances through a structured procedure.
- Works Committee: A bipartite body of employer and employee representatives that promotes harmonious relations and resolves day‑to‑day issues.
- Conciliation: A process where a conciliation officer mediates between the parties to help them reach a mutually acceptable
Business Structures: Classification and Legal Forms
Business Classification
Staff Numbers
- Micro
- Small
- Medium
- Large
Activity
- Commercial products
- Services
Scope
- National
- Multinational
Ownership and Sector
Depending on the economic sector and the ownership of productive factors:
- Private
- Public
- Mixed
The Company and Its Legal Form
Individual Enterprise
The owner is a natural person entitled to act, who owns the assets and assumes all responsibility.
Characteristics:
- Realization of economic activity.
- Development of a regular and professional activity.
- Carrying out an activity
Corporate Board Meeting Compliance and Director Duties
Formal Corporate Board Meetings: Legal Requirements
A Board Meeting is the formal, legal gathering of a company’s Board of Directors to discuss, decide upon, and oversee the strategic and operational management of the company. In Company Law, the Board of Directors is the main decision-making organ of the company, and its powers are exercised through resolutions passed at duly convened and conducted Board Meetings.
What Constitutes a Board Meeting?
A Board Meeting is a fundamental component of corporate
Read MoreSecured Loans, Liens, Bankruptcy, Employment & Cyber Law
Secured Loans and Liens
- Secured Loans: Loans backed by an asset.
- Common law and statutory law: Address remedies in case of default.
- Liens: A claim against specific property to satisfy a debt.
- Mechanics liens: A security interest given to someone who provides work or improvements to a specific parcel of property.
- Judgment liens: A legal claim placed on a debtor’s property after a court issues a monetary judgment against them. It ensures the creditor gets paid if the debtor sells or refinances their
EU Customs Procedures and Tariff Regulations
EU Customs Procedures and Arrival of Goods
When goods enter or leave the EU Customs Territory (TAC), customs controls them. There are two main regimes: Internal and External. Additionally, there are four special regimes: Transit, Deposit, Special Destinations, and Improvement.
The process begins with the presentation of the goods at the customs office of entry by the person transporting them. The goods remain under customs surveillance until they are granted a customs destination.
Documentation for
Read MoreIndian Contract Law and Sale of Goods Act Provisions
This section covers the termination and enforcement aspects of contracts under the Indian Contract Act, 1872.
Termination and Enforcement of Contracts
Void Agreements Under Section 2(g)
🚫 Void Agreement (Section 2(g))
A Void Agreement is defined by Section 2(g) as:
“An agreement not enforceable by law is said to be void.”
This is distinct from a Void Contract (which was valid initially but later became void). A Void Agreement is void ab initio (from the very beginning) because it lacks one or more
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