Category: Essays

In tropical forests as much as 50% of the original extent may have been lost to deforestation in the last two decades, primarily as a result of agricultural expansion. Global estimates of tropical deforestation range from 69,000 km2 year in 1980 to 165,000 km2 year in the late 1980s; 50 to 70% of the more recent estimates have been attributed to deforestation in the Brazilian Ama­zon, the largest continuous region of tropical forest in the world (Skole and Tucker, 1993).Tropical deforestation is a major component of the carbon cycle and has profound implications for biological diversity. Deforestation increases atmo­spheric CO2 and other trace gases, possibly affecting climate. Conversion of forests to cropland and pasture results in a net flux of carbon to the atmosphere because the concentration of carbon in…

Essential Features of Negotiable Instruments are given below: 1. Writing and Signature: Negotiable Instruments must be written and signed by the parties according to the rules relating to Promissory Notes, Bills of Exchange and Cheques. Demand Drafts are also construel as Negotiable Instruments in the limiting case as they have the same property as N.I. Instrumes. 2. Money: ADVERTISEMENTS: Negotiable instruments are payable by legal tender money of India. The liabilities of the parties of Negotiable Instruments are fixed and determined in terms of legal tender money. 3. Negotiability: Negotiable Instruments can be transferred from one person to another by a simple process. In the case of bearer instruments, delivery to the transferee is sufficient. In the case of order instruments two things are required for a valid transfer: endorsement…

The Most Important Characteristics of Small Scale Industries are Given below:a. Labour intensive:SSI is largely labour intensive and therefore, can provide employment to a large number of people with limited capital. ADVERTISEMENTS: b. Capital required is less and therefore economises use of capital: The capital requirement of small enterprises, in respect of economic overheads, such as factory buildings, building for workers and transport facilities; are much less than in large enterprises. By promoting these industries, we can economise capital even in respect of these overheads. Image Source: shellbeachcapital.comc. Short Gestation Period: ADVERTISEMENTS: SSI has a short gestation period when compared to large seals industries. They can provide finished goods in a shorter period and thus can be a better counteracting force for the inflationary trends, so common in a growing…

The depository system functions as under:1. The system envisages setting up of one or more depositories to hold securities of investors in the electronic form. ADVERTISEMENTS: 2. The depository functions through its agents, who are called Depository Participants (DP).3. The investor, who wants to avail the services of the Depository, has to open a beneficiary account with the Depository through a DP. The account known as the “Demat” account can be opened with more than one DP also. Image Source: irpulse.com4 After opening the demat account, the investor is required to dematerialize the securities held by him in the physical form. To dematerialize the securities, the investor has to fill the Dematerialisation Request Form (DRF) and submit the same to the DP along with the security certificate.The DP through the…

The members of a company on the commencement of winding up are termed as contributory. As per Section 428 of the Companies Act, contributory means “Every person liable to contribute to the assets of the company in the event of its being wound up and includes holder of any shares which are fully paid-up.”The liquidator shall prepare a list of all such contributories who may be made liable to contribute towards the assets of the company on account of deficiency in the assets of the company. In case there is a surplus in assets the liquidator shall prepare a list of those members who are entitled to share this surplus. The term ‘contributory’ includes members of both of these categories.List of contributories is divided into two part, A and B.…

Preference shares, with reference to any company limited by shares, are those which carry two preferential rights over other classes of shares: (a) a preferential right in respect of a fixed dividend it may consist of a fixed amount or a fixed rate, (b) a preferential right as to repayment of capital in the case of winding up of the company in priority to other classes of shares. “Preference share capital” is the sum total of preference shares. [Sec. 85 (1)]Different types of Preference shares are as follows: 1. Cumulative Preference Shares: A cumulative preference share has a right to claim the fixed dividend of the current year out of the future profits. The dividend, in these shares, accumulates unless paid. The accumulated arrears of dividend are to be paid…

When a call remains unpaid and the time allowed for its payment has expired, the company may, subject to the provisions of the articles, forfeit those shares and the amount received thereon. The power to forfeit shares must be expressly given in the company’s articles. It cannot be implied.In order that the forfeiture of shares is valid, the procedure expressly prescribed by the articles must be strictly adhered to. The technicalities must be strictly complied with as even a little inaccuracy may be as fatal as the greatest one. Even the whole body of shareholders or creditors cannot ratify a defective forfeiture. ADVERTISEMENTS: The procedure to be followed for the forfeiture of shares is as follows: 1. In Accordance with the Articles of Association: Shares can be forfeited only in…

Memorandum: Memorandum is the charter of the company. It describes the constitution of the company and defines the scope of its activities and powers. Articles lay down the rules and regulations to manage its affairs. Articles of a company are subordinate to the provisions of the Memorandum. Image Source: lohselaw.comMemorandum contains the area beyond which company cannot go; within that area the shareholders may make such regulations for their internal working as they think fit. Articles can be used to explain the objects laid down by the Memorandum, but never to extend them. They cannot modify the provisions of the Memorandum. ADVERTISEMENTS: Memorandum contains conditions for the use of the creditors, shareholders and the outside public. Articles constitute a contract between the company and its members in the capacity of…

Sometimes, Social Change is confused with social evolution. However, it is certainly different from evolution in several aspects. Evolution is a slow, continuous and natural process of change taking place over a considerably long tenure of time.Social change is complex process of change of in entire community of people. The difference between Social Change and Social Evolution can be explained as follows: 1. Evolution is a slow process of change: It takes place at a slow pace and it is different from sudden or rapid and planned changes. In contrast, of Social Change can be slow or fast. It can be evolutionary as well as revolutionary. Image Source: farm4.static.flickr.com 2. Evolution involves continuous and slow changes: ADVERTISEMENTS: In other words, it does not stop at any terminal of social life.…

Caste has been a predominant aspect of social and political life of India. Its position as one of the most ancient and deeply rooted features of the Indian social system has been a major factor in the functioning of the Indian political system. Caste has been, as J.P. Narayan once observed, “the most major political party in India”.It has been a determinant of political participation, electoral process, voting behaviour and almost all other aspects of Indian politics. Despite several changes arising out of the emergence of a developing industrial society, caste continues to play a major role in Indian Politics.Rajni Kothari in his well known book ‘Caste and Indian Politics’ has aptly observed that politics is a competitive enterprise, its purpose is the acquisition of power’ for the realisation of…