India’s Fight Against Corruption: Mechanisms and Laws
Understanding Corruption and India’s Response
Corruption is generally understood as the misuse of public power for private gain. It involves unethical or dishonest behavior by people in positions of authority, especially in public administration. Corruption can take various forms such as bribery, embezzlement, nepotism, fraud, and favoritism, and it affects the efficiency, fairness, and credibility of government institutions.
In the context of public administration, corruption occurs when public officials
Read MoreCompany Formation Steps and Requirements
Company Formation Procedures
| NAME | DEFINITION | PLACE |
| NEGATIVE CERTIFICATION OF NAME | The first step is to obtain a certificate from the Central Business Register stating that no other company has the same or an identical name. | Section of denomination of the Central Business Register. |
| CAPITAL INCOME IN A CURRENT ACCOUNT | Capital can be deposited in any bank. A certificate will be required. The amount to be deposited depends on the company type:
| Any bank or savings |
Takaful Legal Framework & Risk Management in Malaysia
Legal Framework of Takaful in Malaysia
The legal landscape for Takaful in Malaysia has evolved significantly, transitioning from earlier acts to comprehensive modern legislation.
Evolution of Takaful Laws
- Insurance Act 1963 (Repealed): Replaced by the Financial Services Act 2013 (FSA 2013).
- Takaful Act 1984 (Repealed): Replaced by the Islamic Financial Services Act 2013 (IFSA 2013).
Key Legal Categories
The Takaful industry operates under several categories of laws and policies:
Enabling Laws
These laws
Read MoreEquity and Trust Law: Indian Legal Principles and Doctrines
Understanding Key Concepts in Equity and Trust Law
1. Explain the maxim ‘Delay defeats equity.’
- 20 words: Equity helps the vigilant, not those who sleep on their rights. Delay by a claimant weakens their right to a fair and just remedy.
- 50 words: The maxim means that equity favors those who act timely. Unreasonable delay in asserting rights may bar equitable relief due to the doctrine of laches, implying negligence or waiver of the claim.
- 200 words: This equitable maxim suggests that courts will not
Census Declaration & Business Taxes: IAE, Income Tax
Census Declaration & Tax Obligations
The census declaration serves several functions. For instance, it allows legal entities to apply for a Tax Identification Number (TIN). It also informs the tax office about all economic activities, impacting taxes such as the Economic Activity Tax (IAE), Income Tax, Individual Income Tax, and Value Added Tax (VAT).
Personal Income Tax & Census Declaration
Estimating Business Activity Yields
Yields can typically be determined objectively by applying specific
Read MoreState Territorial Organization: Unitary, Federal, and Spain’s Autonomy System
Understanding State Territorial Organization
The territorial organization of the State refers to how power and territory relate within a state. There are two primary ways of organizing power:
Unitary State Model
- Unitary State: This model arose in the French system as a reaction against the Old Regime and its many centers of power. It seeks to concentrate power in a single center, resulting in one state power. This necessitates a single executive, a single legislative body, and a single judiciary. The