Laws for Business Entities in India

Paper Code: 
24GCL232
Credits: 
4
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

This course will quip the students with essential legal knowledge to navigate the complexities of laws relating to business entities.

 

Course Outcomes: 

Course Outcomes (COs):

Course

Learning Outcome

(at course level)

Learning and teaching strategies

Assessment Strategies

Course Code

Course

title

 

24GCL 232

 

Laws for Business Entities in  India

 (Theory)

CO25: Analyze the principles of Contract as per the Indian Contract Act, 1872.

CO26: Assess the conditions for performance and discharge of a contract as per the Indian Contract Act, 1872 and Develop an understanding of special contracts like Indemnity, Guarantee, Bailment, Pledge, Agency and Quasi Contacts.

CO27: Develop knowledge about the formulation of Partnership and LLP.

CO28: Discuss the essential requirements for the incorporation of a company.

CO29: Elaborate the key knowledge about KMP, Directors, Meetings, Winding Up and CSR.

CO30: Contribute effectively in course-specific interaction.

Approach in teaching: Class room Lecture (Theory/ Using Power Point Presentation), Discussions using Leading Case laws.

 

Learning activities for the students:

Role Play activities, Group Discussions, Class presentation.

 

Class participation, assignments and presentations, CA Test, Annual End Exams.

 

 

12.00
Unit I: 
Indian Contract Act,1872
  • Contract: - Meaning of contract, Types, Essentials of Valid Contract,
  • Void agreements: Meaning, Types.
  • Proposal and Acceptance: Meaning, legal rules as to the offer
  • Contractual capacity: Meaning, Minors (effects of minor’s agreements), Person of unsound mind,
  • Persons disqualified by law
  • Free consent,
  • Consideration

 

12.00
Unit II: 
Indian Contract Act,1872
  • Performance of contract: Meaning, Modes of performance,
  • Discharge of contract: modes of discharge of contract, Remedies
  • Contract of Indemnity and Guarantee
  • Contract of Bailment and Pledge, Agency
  • Quasi Contracts

 

12.00
Unit III: 
Partnership & Limited Liability Partnership Act 2008
  • Partnership Act 1932 - Meaning, nature of partnership,  partnership deed, Registration of partnership firm,  types of partners and partnership, Mutual Rights and duties.
  • Limited Liability Partnership Act 2008- Salient features of LLP,   Nature of LLP, Incorporation of LLP Partnership and Incidental Matters,  Partners and their relations, Extent and limitation of LLP

 

12.00
Unit IV: 
Companies Act 2013
  • Salient Features of Companies, Classification of companies.
  • Incorporation of company,
  • Memorandum of Association ,  Article of Association,  Prospectus.
  • Shares and Debentures

 

12.00
Unit V: 
Companies Act 2013

Key Managerial Personnel

Directors -Definition , type  and Powers.

Meetings- Proceedings, Winding up (Voluntary, under court’s supervision),

CSR provision and practices

Essential Readings: 
  1. Majumdar, A. K. and Kapoor, G. K., Student’s guide to Company Law, Taxmann Publications (P) Ltd., New Delhi
  2. Singh, Avtar, Indian Company Law, Eastern Book Company.

 

References: 
  1. Nolakha, R.L., Company Law, Ramesh Book Depot, Jaipur
  2. Kuchhal, MC, Company Law and Secretarial Practice, Vikas Publishing House, New Delhi
  3. Krishnamurti, D.S.R., Company Law, Taxmann, New Delhi.

e-Resources:

  1. Pillai RSN, Bhagavathi, Business Laws, S. Chand publishing https://www.google.co.in/books/edition/_/kCwrDAAAQBAJ?hl=en&gbpv=1
  2. Ryder,Griffiths,Singh, Commercial Law: Principles & Policy, Cambridge University Press https://www.google.co.in/books/edition/_/kCwrDAAAQBAJ?hl=en&gbpv=1
  3. Study Material of ICSI on Economic, Business & Commercial laws https://www.icsi.edu/media/webmodules/Economic%20Business%20and%20Commer...
  4. ICSI executive level study material - https://www.icsi.edu/media/webmodules/23112021_Company_Law.pdf
  5. ICAI intermediate level study material
  6. https://www.icai.org/post.html?post_id=16944

 

Academic Year: 
2024-2025
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