Category: Management

In situ Conservation in India: India encompasses at present 89 national parks and 496 sanctuaries (MoEF, 2001) covering an area of 1.83 lakhs sq km. Tura Range in Garo Hills of Meghalaya is a gene sanctuary for conserving rich native biodiversity. Image Source: apps.ifpindia.orgSanctuaries for rhododendrons and orchids have been established in Sikkim. The Ministry of Environment and Forests constituted National Afforestation and Eco- development Board (NAEB). ADVERTISEMENTS: NAEB has evolved schemes for promoting afforestation. Twelve biodiversity rich areas are designated as Biosphere Reserves (BR). Nilgiri BR has been recently added to International Network of Biosphere Reserves. Kaziranga NP, Keoladeo Ghana NP, Manas WLS, Nanda Devi NP and Sunderbans NP are World Heritage Sites. Project Tiger, initiated in 1973 presently cover 27 tiger reserves in 14 states with a total…

A. Section 6 of the Limitation Act excuses an insane person, a minor and an idiot to’ file a suit or make an application for the execution of decree within the time prescribed by the Limita­tion Act and enable him to file the suit or make an application after the disability has ceased counting the prescribed period (period presented in the third column of– the schedule attached to the Limitation Act).It does not refer to any other period, prescribed or provided in any other Act from the date on which the disability ceased. If one disability supervenes on another disability one disability is followed by another without leaving a gap, the suit or application for execution may be filed after both disabilities have ceased to exist.If the disability or disabi­lities…

Education is a very important process amongst many other social processes. Society cannot do without education. There is a close relationship between society and education. Education is for society.According to the changing conditions of society changes must be brought into the field of education as well. Through education an attempt is made to develop the necessary skills in citizens in order to enable them to lead a successful and happy life.When we think of new generations we have to be aware of their nature and total number. In understanding this, we have to consider the entire related factors. Under these factors may be included men, women, boys, girls, handicapped persons and other types of citizens. Image Source: indiadidac.com ADVERTISEMENTS: While we consider the problem of education, it is not possible…

Desertification means a process of degradation of the environment that usually is a product of climate and human activity and involves the spread or extension of desert-like conditions in a hitherto fertile area.Most of the vegetation in arid and semi-arid regions is threatened with man-made desertification, a result of excessive, indiscriminate, and archaic land-use practices. Forest grazing is the most serious cause of desertification in arid and semi-arid areas, and shifting cultivation is likewise important in the humid tropics and N.E. Himalayas. Increasing population pressure has greatly accentuated the adverse impacts of the above causes.Desertification used to be an issue of considerable concern during the 1970s and 1980s, but not much credence is now given to the theory of deserts advancing and swallowing up adjacent savanna landscapes (Warren and Agnew,…

FERA (Foreign Exchange Regulation Act) was passed in 1947 which was amended in 1973. The new FERA came into force from 1.1.1974. The objective was the conservation of India’s Foreign Exchange reserves, judicious use of foreign exchange, using mainly in these sector which require foreign technol­ogy.Transactions in foreign exchange were absolutely prohibited excepting in certain selected sectors. Every foreign company had to maintain Indian share of 26 percent.FERA was repealed in 1998 and Foreign Exchange Management Act (FEMA) was enacted. No unauthorised person would be allowed to deal in foreign exchange. The authorised person could sell; draw foreign exchange from any authorised person on current Account transaction, subject to approval of R.B.I. Image Source: jhunjhunwalas.files.wordpress.com ADVERTISEMENTS: RBI has exclusive authority to regulate supply; use of foreign exchange, R.B.I, if thinks…

In view of economic liberalisation of labour laws. Government of India set up 2nd National commission of Labour under chairmanship of Mr. Ravindra Varma (a) to suggest measures about rationalisation of labour laws (b) to suggest”umbrella” legislation for ensuring a minimum level of protection to the workers in the organised sector.NCL suggested following definition for “Rationalisation”—In our understanding rationalisation means only making laws more consistent with the context more consistent with each other, less cum­bersome, simple and more transparent.”The commission believes the level of wages depend on economic efficiency of an undertaking.” The commission further adds “workers have to be interested in productivity as the management is.” Image Source: securityaffairs.co ADVERTISEMENTS: The interest on work depends upon proper inspiration from management how management can impose upon the workers work, ethics…

The Memorandum contains the fundamental conditions upon which alone the company is allowed to be incorporated. They are conditions introduced for the benefit of the creditors, and the outside public, as well as of the shareholders. The Articles of Association are internal regulations of the company.The main points of difference between memorandum and articles are as follows:1. Memorandum of Association is the charter of the company. It contains those fundamental conditions upon which alone the company is granted incorporation. Articles of Association contain the rules and regulations framed to govern the internal management of the company. ADVERTISEMENTS: 2. Different clauses of the Memorandum cannot be easily altered. They can be altered for specified purposes and in accordance with the mode prescribed by the Act. Alteration of some of them requires…

The doctrine of indoor management is subject to the following exceptions when the protection under the rule may not be given to the persons dealing with the company: 1. Knowledge of Irregularity: The protection of the doctrine is not afforded to a person who had the actual or constructive knowledge of the irregularity besetting the transaction. In Howard v Patent Ivory Co., for example, the directors of the company had the authority to borrow up to ? 1000 without sanction of the resolution at the general meeting.Directors lent to the company ? 3500 without any resolution being passed. It was held that the company would be bound only by ? 1000. The Turquand rule was not applied as the directors ought to know that the resolution was not passed so…

Issue of prospectus, in order to be valid, must satisfy the following legal requirements: 1. Obligations of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009: These regulations inter-alia deal with appointment of Lead Merchant Banker, Bankers to the issue, Registrar to the issue, filing of various documents along with a draft prospectus, pricing of the securities, promoters contribution, minimum public offer, and disclosure in the offer document.The company is required to file a draft offer document through the lead merchant banker to the SEBI, at least 30 days prior to registering the prospectus with the Registrar of Companies. 2. It must be dated: ADVERTISEMENTS: Every prospectus must be dated. The date given in the prospectus shall be taken to be the date of its publication unless proved to the…

Since a private company does not involve funds from the public, it needs less stringent control from the regulatory provisions. Accordingly, certain provisions of the Companies Act which are applicable to public companies do not apply to private companies.These exemptions are referred as the privileges or advantages of a private company. These are: 1. Members: ADVERTISEMENTS: A private company can be formed with only 2 persons as members. 2. Prospectus: A private company need not issue prospectus. It is also not required to file a ‘statement in lieu of prospectus’ with the Registrar before allotment of shares. Thus a private company is exempted from complying with the provisions of the Act regarding the issue of the prospectus. Image Source: knitasia.com 3. Certificate of commencement of business: A private company can…