Corporate Laws
06/02/4024.
Corporate Laws' Series of Blogs on every Tuesday
By
Jayprakash Bansilal Somani, Advocate Supreme Court of India & IP
Corporate law is a set of laws, along with rules and regulations, that businesses must comply with. Types included are federal securities law, tax law, labor law, environmental law, contract law, and acquisitions and mergers. The meaning of corporations law generally applies to corporations and might also be called business or company law. Having a defined sets of corporate laws is key to a well-functioning and stable business environment.
Following are the major Corporate Laws in India
1 . Companies Act, 2013
2 . Competition Act, 2002
3 . Credit Information Companies Regulation Act, 2005
4 . Depositories Act, 1996
5 . Labour Laws
6 . Insolvency and Bankruptcy Code, 2016
7 . Limited Liability Partnership Act, 2008.
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Note:- After the list of Corporate Laws we will provide brief information of all concern laws..
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13/02.2024.
Corporate Laws' Series of Blogs on every Tuesday
By
Jayprakash Bansilal Somani, Advocate Supreme Court of India & IP
Continue from last Tuesday....
8. National Company Limited (Acquisition and Transfer of Undertakings) Act, 1980
9 . Securities and Exchange Board of India Act, 1992
10 . Securities Contract Regulation Act, 1956
11. Indian Bill of Lading Act, 1856
12 . Factories Act, 1948
13. Industries Development and Regulation Act, 1951
14. Inter-state Corporations Act, 1957
15. Cost and Works Accountants Act, 1959
16. Company Secretaries Act, 1980
17. Foreign Trade Development and Regulation Act, 1992
18. Special Economic Zones Act, 2005
19. Micro Small and Medium Enterprises Development Act, 2006
20. Warehousing Development and Regulation Act, 2007
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20-02-2024
3. 'Corporate Laws' Series of Blogs on every Tuesday
By
Jayprakash Bansilal Somani, Advocate Supreme Court of India & IP
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21. Tribunal Reforms Act 2021
22. Foreign Exchange Management Act 1999
23. Banking Regulation Act 1949
24. The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002
25. Prevention of Money Laundering Act 2002
26. Central Board of Direct Taxes Validation of Proceedings Act 1971
27. Income Tax Act 1961
28. Black Money and Disclosed Foreign Income and Assets and Imposition of Tax Act 2015
29. Digital Personal Data Protection Act 2023
30. Information Technology Act 2000
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Note:- After the list of Corporate Laws we will provide brief information of all concern laws..
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27-02-2024.
4 . ' Corporate Laws' Series of Blogs on every Tuesday
By
Jayprakash Bansilal Somani, Advocate Supreme Court of India & IP
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31. Arbitration and Constellation Act 1996
32. India International Arbitration Centre Act 2019
33. Essential Commodities Act 1955
34. Indian Contract Act 1872
35. Intellectual Property Laws
36. Minimum Wages Act 1948
37. Employees State Insurance Act 1948
38. The Commercial Court Act 2015
39. Employees Provident Fund Act 1952
40. The Payment of Gratuity Act 1972
41. Goods and Services Tax Act 2017
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05/03/2024
5. ' Corporate Laws' Series of Blog on every Tuesday
By
Jayprakash Bansilal Somani, Advocate Supreme Court of India & IP
Continue from last Tuesday....
Dear readers in earlier 4 blogs we have given list of 40 important corporate and business Laws. From this blog we are providing you information about each law. So now will see details about first corporate Law ...
Companies Act 2013.
In this Act is with 470 sections 29 Chapters and 7 schedules. Chapter 1 is preliminary it contains section 1 and 2. Chapter 2 is related to incorporation of company and matters incidental thereto it contents from section 3 to section 22. Chapter 3 is related to prospectus and allotment of securities in this part 1 is related to public offer it contents section 23 to section 41 and part 2 is related to private placement it contains only one section 42. Chapter 4 contains share capital and debentures, it contains section 43 to section 72. Chapter 5 is related to acceptance of deposits by companies it contains section 73 section 76A. Chapter 6 is related to registration of charges it contains section 77 section to section 87. Chapter 7 is related to management and administration it contains section 88 to section 122. Chapter 8 is related to declaration and payment of dividend it contains section 123 to section 127. Chapter 9 is related to accounts of Companies, it contains section 128 to section 138. Chapter 10 is related to audit and auditor it contains section 139 to 148. Chapter 11 is related to appointment and qualifications of directors it contains section 149 to section 172. Chapter 12 is related to meetings of board and its power it contains section 173 to 195. Chapter 8 is related to appointment and remandation of managerial personnel it contains section 196 to 205. Chapter 14 is related to inspection, enquiry and investigation it contains section 206 to 229. Chapter 15 is related to compromise, arrangements and amalgamation it contains section 230 to 240. Chapter 16 is related to prevention of operation and mis-management it contes section 241 to section 246.......
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12/03/2024
6. 'Corporate Laws' Series of Blog on every Tuesday
By
Jayprakash Bansilal Somani, AdvocateSupreme Court of India & IP
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Chapter 17 is related to Registered Valuers, it contains Sec 247 only. Chapter 18 is related to Removal of Names of Companies From the Registered of Companies, it contains Sec 248 to 252. Chapter 19 is related to Revival and Rehabilitation of Sick Companies, the chapter is omitted from Sec 253 to 269. Chapter 20 is related to Winding up with Sec 270. Part 1 is related to Winding up by the Tribunal from Sec 271 to 303. And Part 2 Voluntary Winding up is Omitted from Sec 303 to 323. Part 3 is related to Provisions applicable to every mode of Winding Up it contains Sec 324 to 358. Part 4 is related to Official Liquidators from Sec 359 to 365. Chapter 21 Part 1 is related to Companies Authorized to Register under This Act from Sec 366 to 374. Part 2 is related to Winding Up of Unregistered Companies from 375 to 378. Chapter 21A is related to Producer Companies. In this Part 1 Is preliminary with Sec 378 A of Definitions. Part 2 Is related to Incorporation of Producer Companies And other Matters from Sec 378 B to 378 N. Part 3 is related to Management of Producer Company from Sec 378 O to 378 Z. Part 4 is related to General Meetings with Sec 378 ZA only. Part 5 is related to Share Capital and Members Rights from Sec 378 ZB to Sec 378 ZD. Part 6 is related to Finance, Accounts and Audit from Sec 378 ZE to Sec 378 ZJ. Part 7 is related to Loans to Members and Investments with Sec 378 ZK and 378 ZL. Part 8 is related to Penalties with Sec 378 ZM. Part 9 is related to Amal Gamation, Merger or Division with Sec 378 ZN. Part 10 is related to Resolution of Disputes with Sec 378 Z. Part 11 is related to Miscellaneous Provisions From Sec 378 ZP to 378 ZR. Part 12 is related to Re- Conversion of Producer Company to Inter State Co Operative Society with Sec 378 ZS to Sec 378 ZU. ......
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19/03/2024
7 . ' Corporate Laws' Series of Blog on every Tuesday
By
Jayprakash Bansilal Somani, Advocate Supreme Court of India & IP
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Chapter 22 is related to Companies Incorporated outside India, it contains Sec 379 to 393 A. Chapter 23 is related to Government Companies, it contains Sec 394 & 395. Chapter 24 is related to Registration Offices and Fees, it contains Sec 396 to 404. Chapter 25 is related to Companies To Furnish Information or Statistics, it contains Sec 405 only. Chapter 26 is related to Nidhis, it contains Sec 406 only. Chapter 27 is related to National Company Law Tribunal And Appellate Tribunal, it contains Sec 407 to 434. Chapter 28 is related to Special Courts, it contains Sec 435 to 446 B. Chapter 29 is related to Miscellaneous, it contains Sec 447 to 470......
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26/06/2024
8. 'Corporate Laws' Series of Blog on every Tuesday
By
Jayprakash Bansilal Somani, Advocate Supreme Court of India & IP
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Company Act 2013 has total 470 Sections and 7 Schedules. Now we will see the content of the Schedules. Schedule 1 are related to the Table A - Format of Memorandum Of Association of the Company Limited By Shares, Table B- Memorandum of Association of a Company Limited By Guarantee and Not Having A share Capital, Table C - Memorandum of Association of a Company Limited By Guarantee and Having A share Capital, Table D- Memorandum of Association of an Unlimited Company and Not Having Share Capital, Table E- Memorandum of Association of an Unlimited Company and Having Share Capital, Table F- Articles Of Association of a Company Limited By shares, Table G- Articles Of Association of a Company Limited By Guarantee and Having a share Capital, Table H- Articles Of Association of a Company Limited By Guarantee and Not Having a share Capital. Table I- Articles Of Association of an Unlimited Company and having a Share Capital, Table J- Articles Of Association of an Unlimited Company and Not having a Share Capital.
Schedule 2 is related to Useful Lives to Compute Depreciation.
Schedule 3 is related to General Instructions For Preparation Of Balance Sheet And Statement of Profit And Loss Of A Company.
Schedule 4 is related to Code for Independent Director.
Schedule 5 Part 1 is related to Conditions of the Fulfilled for The Appointment of a Managing or Whole- Time Director or a Manager without the Approval of the Central Government, Part 2 is related to Remuneration, Part 3 is related to Provisions applicable to Part 1 and 2 of the Schedule, And Part 4 related to The Central government notifications.
Schedule 6 is related to what includes In the Term “Infrastructural Projects” Or “Infrastructural Facilities”.
Schedule 7 is related to Activities which maybe included by Companies in Their Corporate Social Responsibility Policies.
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02/04/2024
9.' Corporate Laws' Series of Blog on every Tuesday
By
Jayprakash Bansilal Somani, Advocate Supreme Court of India & IP
Continue from last Tuesday.....
Companies Act 2013 has many Rules and Regulations as Below:-
1. Companies (Acceptance Of Deposits) Rules, 2014
2. Companies (Accounting Standards) Rules, 2021
3. Companies (Accounts) Rules, 2014
4. Companies (Adjudication Of Penalties) Rules, 2014
5. Companies (Appointment And Qualification Of Directors) Rules, 2014
6. Companies (Appointment And Remuneration of Managerial Personnel) Rules, 2014
7. Companies (Arrests In Connection with Investigation By Serious Fraud Investigation Office) Rules, 2017
8. Companies (Audit & Auditors) Rules, 2014
9. Companies (Authorised To Register) Rules, 2014
10. Companies (Compromises, Arrangements And Amal Gamations) Rules, 2016
11. Companies (corporate social responsibility policy) rules, 2014
12. Companies (cost records and audit) rules, 2014, (central)
13. Companies (creation and maintenance of databank of independent directors) rules, 2019, (central)
14. Companies (declaration and payment of dividend) rules, 2014, (central)
15. Companies (filing of documents and forms in extensible business reporting language) rules, 2015, (central)
16. Companies (incorporation) rules, 2014, (central)
17. Companies (indian accounting standards) rules, 2015, (central)
18. Companies (inspection, investigation and inquiry) rules, 2014, (central)
19. Companies (issue of global depository receipts) rules, 2014, (central)
20. Companies (listing of equity shares in permissible jurisdictions) rules, 2024, (central)
21. Companies (management and administration) rules, 2014, (central)
22. Companies (mediation and conciliation) rules, 2016, (central)
23. Companies (meetings of board and its powers) rules, 2014, (central)
24. Companies (miscellaneous) rules, 2014, (central)
25. Companies (prospectus and allotment of securities) rules, 2014, (central)
26. Companies (registered valuers and valuation) rules, 2017, (central)
27. Companies (registration of charges) rules, 2014, (central)
28. Companies (registration of foreign companies) rules, 2014, (central)
29. Companies (registration offices and fees) rules, 2014, (central)
30. Companies (removal of names of companies from the register of companies) rules, 2016, (central)
31. Companies (restriction on number of layers) rules, 2017, (central)
32. Companies (share capital and debentures) rules, 2014, (central)
33. Companies (significant beneficial owners) rules, 2018, (central)
34. Companies (specification of definitions details) rules, 2014, (central)
35. Companies (transfer of pending proceedings) rules, 2016, (central)
36. Companies (winding up) rules, 2020, (central)
37. Company secretaries (election to the council) rules, 2006, (central)
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10…. ( 09/04/2024)
'Corporate Laws' Series of Blog on every Tuesday
By
Jayprakash Bansilal Somani, Advocate Supreme Court of India & IP
Continue from last Tuesday.....
In this Corporate Law Series next important law is “THE COMPETITION ACT, 2002”. This Act was enacted on 13th Jan, 2003. Keeping in view of the economic Development of our Country this Act was enacted by the Parliament to control monopoly and to promote and sustain competition in markets. This Act contains 9 chapters and 66 Sections. Chapter 1 contains preliminary with Sec 1 & 2. Chapter 2 is related to Prohibition of Certain Agreements, Abuse of Dominant position and Regulation of Combinations with Sec 3 to Sec 6A. Chapter 3 is related to Competition Commission of India with Sec 7 to Sec 17. Chapter 4 is related to Duties, Powers and Functions Commissions with Sec 18 to 40. Chapter 5 is related to Duties of Director General with only sec 41- Director- General to investigate contraventions. Chapter 6 is Important for Lawyers in Legal Practice which is related to Penalties from Sec 42 to Sec 48C. Chapter 7 is related to Competition Advocacy with Sec 49. Chapter 8 is related to Finance, Accounts and Audits with Sec 52 & 53. Chapter 8A is related to Appellate Tribunal from sec 53A to sec 53U. Chapter 9 is related to Miscellaneous from Sec 54 to Sec 66. This Act was amended in 2007 and in 2009..
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11….. (16/04/2024)
'Corporate Laws' Series of Blog on every Tuesday
By
Jayprakash Bansilal Somani, Advocate Supreme Court of India & IP
Continue from last Tuesday.....
Competition Act 2002 has many Rules and Regulations as Below:-
1. Competition Appellate Tribunal (Form and Fee for filling and Appeal and Fee for Filing Compensation Applications) Rules, 2009
2. Competition Appellate Tribunal ( Recruitment, Salaries and Other Terms And Conditions of Service Of Officers And other Employees), Rules, 2010.
3. Competition Appellate Tribunal (Salaries And Allowances and others Terms and Conditions of Service of the Chairpersons And Other Members) Rules, 20094. Competition Appellate Tribunal (Term of The Selections Committee and Manner of Selection of panel of Names) Rules, 2008
5. Competition Commission of India (Director General) Recruitment Rules, 2009
6. Competition Commission of India (Form and Time Of Preparation of Annual Report) Rules, 2008
7. Competition Commission of India (Form of Annual Statements Of Accounts), Rules, 2009
8. Competition Commission of India (Number Of Additional, Join, Deputy or Assistant Director – General Other Officers and Employees, Their Manner of Appointment, Qualification, Salary, Allowances, and Other Terms and Conditions of Service) Rules, 2009
9. Competition Commission of India (Oath of Office And Of Secrecy For Chairperson And Other Members) Rules, 2003
10. Competition Commission of India (Return On Measures for the Promotion of Competition Advocacy, Awareness And Training On Competition Issues), Rules, 2008
11. Competition Commission of India (Salary, Allowances, And Other Terms And Conditions Of Chairperson And Other Members) Rules, 2003
12. Competition Commission of India ( Salary, Allowances, And Other Terms And Conditions Of Service Of The Secretary And Officers And Other Employees Of The Commission And The Number Of Such Officers And Other Employees) Rules, 2009
13. Competition Commission of India (Selection Of Chairperson & Other Member Of The Commission) Rules, 2003
14. Competition Commission of India (Term Of The Selection Committee And The Manner Selection Of Panel Of Names) Rules, 2008.
15. Competition (Form Of Publication of Guidelines ) Rules, 2023. Continue...
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12....... (23.04.2024)
'Corporate Laws' Series of Blog on every Tuesday
By
Jayprakash Bansilal Somani, Advocate Supreme Court of India & IP
Continue from last Tuesday……
In this Corporate Law Series next important law is “CREDIT INFORMATION COMPANIES (REGULATION) ACT, 2005”. This Act was enacted on 23rd June, 2005. Regulation of credit information companies this Act was enacted by the Parliament to facilitate efficient distribution of credit and for matters connected therewith or incidental thereto. This Act Contains 8 Chapters and 37 Sections and 1 Schedule. Chapter 1 contains Preliminary with Sec 1 & 2. Chapter 2 is related to Registration of Credit Information Companies with Sec 3 to 8. Chapter 3 is related to Management Of Credit Information Companies with Sec 9 to 12. Chapter 4 is related to Auditors with Sec 13 only. Chapter 5 is related to Functions Of Credo Information Companies with Sec 14 to 18. Chapter 6 is related to Information Privacy Principles and Furnishing of Credit Information with Sec 19 to 22. Chapter 7 is related to Offences and Penalties with Sec 23 to 26. Chapter 8 is related to Miscellaneous from Sec 26 to 37.
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13…..(30/04/2024)
'Corporate Laws' Series of Blog. Today’s topic: “Credit Information Companies (Regulation) Act, 2005” continue.. from last blog..
By
Jayprakash Bansilal Somani, Advocate Supreme Court of India & IP
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Credit information companies (regulation) act, 2005 has total 37 Sections and 1 Schedule. Now we will see the content of the Schedule. Schedule 1 it contains 14 Parts. Part 1- The Reserve Bank of India Act, 1934 (2 of 1934). Part 2-The Banking Regulation Act, 1949 (10 Of 1949). Part 3- The State Financial Corporation Act, 1951 (63 Of 1951), Part 4- The State Bank Of India Act, 1955 (23 Of 1955), Part 5- The State Bank Of India (Subsidiary Banks) Act, 1959 (38 Of 1959), Part 6- The Deposit Insurance And Credit Guarantee Corporation Act, 1961 (47 Of 1961), Part 7- The State Agricultural Credit Corporations Act, 1968 (60 Of 1968), Part 8- The Banking Companies (Acquisition And Transfer Of Undertakings) Act, 1970 (5 Of 1970), Part 9- The Banking Companies (Acquisition And Transfer Of Undertakings) Act, 1980 (40 Of 1980), Part 10- The Export-Import Bank Of India Act, 1981 (28 Of 1981), Part 11- The National Bank For Agriculture And Rural Development Act, 1981 (61 Of 1981), Part 12- The Public Financial Institutions (Obligation As To Fidelity And Secrecy) Act, 1983 (48 Of 1983), Part 13- The National Housing Bank Act, 1987 (53 Of 1987), Part 14- The Regional Rural Banks Act, 1976 (21 Of 1976). Credit information companies (regulation) act, 2005 has only one Rules as Below:- Credit Information Companies Rules, 2006, (Central)
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14..... (07.05.2024)
'Corporate Laws' Series of Blog on DEPOSITORIES ACT, 1996
By
Jayprakash Bansilal Somani, Advocate Supreme Court of India & IP
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In this Corporate Law Series next important law is “DEPOSITORIES ACT, 1996”. This Act was enacted on 10th August, 1996. Regulation of depositories this Act was enacted by the Parliament in securities for matters connected therewith or incidental thereto. This Act is with 31 sections 6 Chapters and 1 schedule. Chapter 1 contains Preliminary with Sec 1 & 2. Chapter 2 is related to Certificate of Commencement of Business it contains only Sec 3. Chapter 3 is related to Rights and Obligations of Depositories, Participants Issuers and Beneficial Owners it contains Sec 4 to 17. Chapter 4 is related to Enquiry and Inspection it contains Sec 18 to 19J. Chapter 5 is related to Miscellaneous with Sec 20 & 21. Chapter 6 is omitted. Schedule 1 is also repealed.
“Depositories Act, 1996” have some Rules as Below:-
1. Depositories (Appeal to Securities Appellate Tribunal) Rules, 2000, (Central)
2. Depositories (Appeal to the Central Government) Rules, 1998, (Central)
3. Depositories (Procedure for Holding Inquiry and Imposing Penalties) Rules, 2005, (Central)
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15..... (14.05.2024)
'Corporate Laws' Series of Blog on “LABOUR LAWS”
By
Jayprakash Bansilal Somani, Advocate Supreme Court of India & IP
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In this Corporate Law Series next important law is “LABOUR LAWS. Labour Law or Employment Law is the body of laws, regulations, Administrative rulings, and precedents which address the legal rights of, and restrictions on, labourers and their organizations. It deals with many aspects of relationship between trade unions, employers and their employees. In Labour Laws 4 New Laws are there but Date of Enforcement not notified.
Following are the Current Laws related to Labour and Employment
1. The Industrial Disputes Act, 1946
2. Maternity Benefit Act, 1961
3. Minimum Wages Act, 1948
4. Payment of Bonous Act, 1965
5. Payment of Gratuity Act, 1972
6. Payment of Wages Act, 1936
7. Pensions Act, 1871
8. Provident Fund Act, 1925
9. Public Provident Fund Act, 1968
10. Trade Union Act, 1926
11. Motor Transport Workers Act, 1961
In Labour Laws 4 New Laws are there but Date of Enforcement not notified That 4 Laws Are Given Below:-
1. Code on Wages, 2019
2. Industrial Relations Code, 2020
3. Code on Social Security, 2020
4. Occupational Safety, Health and Working Conditions Code, 202015
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16..... (21.05.2024)
'Corporate Laws' Series of Blog on “INDUSTRIAL DISPUTES ACT, 1947”
By
Jayprakash Bansilal Somani, Advocate Supreme Court of India & IP
Continue from last Tuesday.......
Dear readers in earlier blog we have given list of 11 important Labour Laws and also 4 New Labour Laws which is not notified yet. From this blog we are providing you information about each law. So now will see details about first Labour Law...
Industrial Disputes Act, 1947…..This Act was enacted on 11th March, 1947. This Act to make provision was enacted by the Parliament in investigation and settlement of industrial disputes, and for certain other purposes. This Act is with 40 sections 7 Chapters and 5 schedules. Chapter 1 contains Preliminary with Sec 1, 2 & 2A. Chapter 2 is related to Authorities Under This Act Authorities Under This Act it contains with sec 3 to 9. Chapter 2A is related to Notice of Change with Sec with sec 9A and 9B. Chapter 2B is related To Grievance Redressal Machinery with Sec 9C. Chapter 3 is related to Reference Of Disputes To Boards, Courts Or Tribunals with Sec 10& 10A. Chapter 4 is related To Procedure, Powers And Duties Of Authorities with sec 11 to 21. Chapter 5 is related to Strikes And Lock-Outs with Sec 22 to 25. Chapter 5A is related to Lay-Off And Retrenchment with Sec 25A to 25J. Chapter 5B is related to Special Provisions Relating To Lay-Off, Retrenchment And Closure In Certain Establishments with Sec 25K to 25S. Chapter 5C is related to Unfair Labour Practices with Sec 25T and 25U. Chapter 6 is related to Penalties with Sec 26 to 31. Chapter 7 is related to Miscellaneous with Sec 32 to 40.
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17.... ( 28.05.2024)
'Corporate Laws' Series of Blog on “INDUSTRIAL DISPUTES ACT, 1947”
By
Jayprakash Bansilal Somani, Advocate Supreme Court of India & IP
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Industrial Disputes Act, 1947 is with 40 sections 7 Chapters and 5 schedules.. Now we will see the content of the Schedules. Schedule 1 are related to the Industries which may be declared to be Public Utility Services under sub-clause (vi) of clause (n) of section 2 of this Act “public utility service” means—(i) any railway service or any transport service for the carriage of passengers or goods by air (ia) any service in, or in connection with the working of, any major port [or dock or any industrial establishment or unit engaged in essential defence services](ii) any section of an industrial establishment, on the working of which the safety of the establishment or the workmen employed therein depends;(iii) any postal, telegraph or telephone service;(iv) any industry which supplies power, light or water to the public;(v) any system of public conservancy or sanitation;(vi) any industry specified in the First Schedule which the appropriate Government may, if satisfied that public emergency or public interest so requires, by notification in the Official Gazette, declare to be a public utility service for the purposes of this Act.
Schedule 2 is related to Matters within the Jurisdiction of Labour Courts with Part 2 contains Central Acts Offences Where under Triable by Labour Court. Schedule 3 is related to Matters within the Jurisdiction of Industrial Tribunals. Schedule 4 is related to Conditions of Service for change of which Notice is to be given. Schedule 5 of this Act related to Unfair Labour Practices.
Industrial Disputes Act, 1947 has only one Rule as Below:-
1.Industrial Disputes (Central) Rules, 1957, (Central)
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