tag:blogger.com,1999:blog-72108645192506753602024-03-14T06:28:02.831+05:30RAM MALLARCorporate Lawyer and Professor of Law & Governance. Former Executive Vice-President & General Counsel of Johnson & Johnson, India.Ram Mallarhttp://www.blogger.com/profile/05277161346543532430noreply@blogger.comBlogger35125tag:blogger.com,1999:blog-7210864519250675360.post-41660778810053983842022-09-14T23:52:00.001+05:302022-09-14T23:52:56.519+05:30<div dir="ltr" style="text-align: left;" trbidi="on">
<a href="http://122.170.109.107/Companies%20Act%202013.pdf">http://122.170.109.107/Companies%20Act%202013.pdf</a><br /></div>
Ram Mallarhttp://www.blogger.com/profile/05277161346543532430noreply@blogger.com0tag:blogger.com,1999:blog-7210864519250675360.post-66011744550801286702018-11-16T23:14:00.001+05:302018-11-16T23:14:30.861+05:30Contract Management, Project Management Managing Project & Legal Perspective <div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-family: "georgia" , "times new roman" , serif;"><b> </b></span></div>
<div style="text-align: right;">
<b><span style="font-family: "georgia" , "times new roman" , serif;">November 16, 2018</span></b></div>
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<span style="font-family: "georgia" , "times new roman" , serif;"><br /></span></div>
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<b><span style="font-family: "georgia" , "times new roman" , serif; font-size: large;">Scope of Contract/Project Management</span></b></h4>
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<b><span style="font-family: "georgia" , "times new roman" , serif;">Framework</span></b></h4>
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<div style="text-align: left;">
</div>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Legally
Sound Contracts</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Material
Management</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Purchase
orders for stores, spares or equipments</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Rate
Contract - Floating Tender</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal; text-indent: -0.25in;"><span style="font-family: "georgia" , "times new roman" , serif;">Service
Contract</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Annual Maintenance Contract</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Works
Contract</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Consultancy
Contract</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Amendments
to Contract</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Managing
of Contract</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Post-
Contract Management</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">What
is “Breach”</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Remedies
for Breach</span></span></li>
</ul>
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<b><span style="font-family: "georgia" , "times new roman" , serif;">STATUTORY PROVISIONS GOVERNING PURCHASE TRANSACTION</span></b></h4>
<h4 style="text-align: left;">
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</div>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">The
Indian Contract Act, 1872</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif; font-weight: normal;">Th<span style="text-indent: -24px;">e Indian
Sale of Goods Act, 1930</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Arbitration
and Conciliation Act, 1996</span></span></li>
</ul>
<span style="font-weight: normal;"><div style="text-align: justify;">
<span style="font-family: "georgia" , "times new roman" , serif;">Government
Contracts, including those for Defense Procurement, are governed by the same
law, which are applicable to private sector.</span></div>
</span></h4>
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<b><span style="font-family: "georgia" , "times new roman" , serif;">CONSTITUTIONAL PROVISIONS FOR GOVERNMENT CONTRACTS</span></b></h4>
<h4 style="text-align: justify;">
<span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">All contracts shall be made by an authority empowered to do
so by or under the orders of the President in terms of Article 299 (1) of the
Constitution of India.All the contracts and assurances of property made in the
exercise of the executive power of the Union shall be executed on behalf of the
President. The words “for and on behalf of the President of India” should
follow the designation appended below the signature of the officer authorized
in this behalf.</span></span></h4>
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<b><span style="font-size: 12pt; line-height: 150%;"><span style="font-family: "georgia" , "times new roman" , serif;">MATERIAL MANAGEMENT</span></span></b></h4>
<div style="line-height: 150%; text-align: left;">
<span style="font-family: "georgia" , "times new roman" , serif;">What is 'Material Management'?<br />It is an integrated approach to manage Supply Chain Management of
the entire needs, procurement, flow and optimizing cost of materials needed for
the organization. Purchasing Companies should know legal aspects affecting
the Purchase of materials to avoid legal risk, otherwise the entire material
management will be derailed.</span></div>
</div>
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<b><span style="font-family: "georgia" , "times new roman" , serif;">PURCHASE ORDER IS AN AGREEMENT</span></b></h4>
<div style="text-align: left;">
<span style="font-family: "georgia" , "times new roman" , serif;">What is Agreement?</span></div>
<div style="text-align: justify;">
<span style="font-family: "georgia" , "times new roman" , serif;">“Agreement” means voluntarily creating relationship between
the Parties which creates Rights and Obligations.</span></div>
<span style="font-family: "georgia" , "times new roman" , serif;">“A” agrees to sell his House to “B” for Rs. 20 Lakhs.</span></div>
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<h4 style="text-align: left;">
<b><span style="font-family: "georgia" , "times new roman" , serif;">FIRST LEGAL SCRUTINY BEGINS WITH P.O.</span></b></h4>
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<span style="font-family: "georgia" , "times new roman" , serif;">P.O. is final conclusion of purchase contract unless you
have a separate formal contract.</span></div>
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</h4>
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<b><span style="font-family: "georgia" , "times new roman" , serif;">LEGAL ANALYSIS</span></b></h4>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif; font-weight: normal;">Inviting
Quotation</span></li>
</ul>
<div style="text-align: left;">
</div>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;"><span style="text-indent: -0.25in;"><span style="mso-list: Ignore;"><span style="font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span></span><span style="text-indent: -0.25in;">Negotiation
on Price & Quality</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Amendment
to Quotation</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Receive
Proforma Invoice</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Placing
Purchase Order</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Accept
Delivery & Invoice.</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;"><span style="text-indent: -0.25in;"><span style="mso-list: Ignore;"><span style="font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span></span><span style="text-indent: -0.25in;">Payment
as per Invoice.</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;"><span style="text-indent: -0.25in;"><span style="mso-list: Ignore;"><span style="font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span></span><span style="text-indent: -0.25in;">Dispute</span></span></li>
</ul>
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<span style="font-family: "georgia" , "times new roman" , serif;"><b>IMPORTANCE OF VALID CONTRACT AND WHY ?</b></span></h4>
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<span style="font-family: "georgia" , "times new roman" , serif;">For valid contract, certain fundamental conditions to be
satisfied.</span></div>
</div>
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<h4 style="text-align: left;">
<b><span style="font-family: "georgia" , "times new roman" , serif;">FUNDAMENTALS OF LEGALLY ENFORCEABLE CONTRACT</span></b></h4>
<div style="text-align: left;">
</div>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Offer
and Acceptance.</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;"><span style="text-indent: -0.25in;"><span style="mso-list: Ignore;"><span style="font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span></span><span style="text-indent: -0.25in;">Legal
Capacity of Parties.</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Free
Consent.</span></li>
</ul>
</div>
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<h4 style="text-align: left;">
<b><span style="font-family: "georgia" , "times new roman" , serif;">LEGAL IMPLICATIONS</span></b></h4>
<div style="text-align: left;">
</div>
<div style="text-align: left;">
</div>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Proposal
is foundation of Contract.</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="text-indent: -0.25in;"><span style="font-family: "georgia" , "times new roman" , serif;">Distinction
between Offer & Invitation to Offer</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Purchaser
to ensure Proposal from Supplier</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Supplier
is entitled to change quotation before P.O.</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Purchase
by Floating Tender.</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">P.O.
to conform strictly to Quotation.</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Any
variation is a New Proposal.</span></li>
</ul>
</div>
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<h4 style="text-align: left;">
<b><span style="font-family: "georgia" , "times new roman" , serif;">WHO IS AUTHORIZED TO SIGN FOR SUPPLIER COMPANY?</span></b></h4>
<div style="text-align: left;">
</div>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">By
Power of Attorney, by Agent, by Employees.</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Implied
authorization warranted by the position held.</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Goods
within ordinary course of Business.</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Under
Common Seal.</span></li>
</ul>
</div>
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<h4 style="text-align: justify;">
<b><span style="font-family: "georgia" , "times new roman" , serif;">PSU’s FORMAT OF PURCHASE TRANSACTIONS</span></b></h4>
<ul>
<li><span style="font-family: "georgia" , "times new roman" , serif;">Expression
of Interest/Floating enquiry.</span></li>
</ul>
<ul>
<li><span style="font-family: "georgia" , "times new roman" , serif;"><span style="text-align: left; text-indent: -0.25in;">RFP
</span><i style="text-align: left; text-indent: -0.25in;">(Request For Proposal) </i><span style="text-align: left; text-indent: -0.25in;">/ Tender.</span></span></li>
</ul>
<ul>
<li><span style="text-align: left; text-indent: -0.25in;"><span style="font-family: "georgia" , "times new roman" , serif;">Proposal/Bid/Quotation.</span></span></li>
</ul>
<ul>
<li><span style="text-align: left; text-indent: -0.25in;"><span style="font-family: "georgia" , "times new roman" , serif;">L-1
Bid.</span></span></li>
</ul>
<ul>
<li><span style="text-align: left; text-indent: -0.25in;"><span style="font-family: "georgia" , "times new roman" , serif;">Contract.</span></span></li>
</ul>
<ul>
<li><span style="font-family: "georgia" , "times new roman" , serif;">Purchase
Order.</span></li>
</ul>
</div>
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<h4 style="text-align: left;">
<span style="font-family: "georgia" , "times new roman" , serif;"><b>GOVERNMENT/DEFENCE TENDER</b></span></h4>
<h4 style="text-align: left;">
<div style="text-align: left;">
</div>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Doctrine
of Public Interest and Principle of Equality.</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal; text-indent: -0.25in;"><span style="font-family: "georgia" , "times new roman" , serif;">Object
is: Arms-length Transaction.</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;"><span style="font-weight: normal; text-indent: -0.25in;"><span style="mso-list: Ignore;"><span style="font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span></span><span style="font-weight: normal; text-indent: -0.25in;">Public
Sector Tender </span><span style="font-weight: normal;">V/s Private Sector
Tender</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;"><span style="font-weight: normal; text-indent: -0.25in;"><span style="mso-list: Ignore;"><span style="font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span></span><span style="font-weight: normal; text-indent: -0.25in;">Meaning
of Bribe.</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;"><span style="font-weight: normal;">Perjury</span>.</span></li>
</ul>
<div style="text-align: left;">
</div>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Article
14 – Equality before the Law.</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Non-discrimination.</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;"><span style="text-indent: -0.25in;"><span style="mso-list: Ignore;"><span style="font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span></span><span style="text-indent: -0.25in;">Transparency.</span></span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Fairness.</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;"><span style="text-indent: -0.25in;"><span style="mso-list: Ignore;"><span style="font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span></span><span style="text-indent: -0.25in;">Limited
Tender v/s Public Tender</span></span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Invite
Expression of Interest</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Float
Limited Tender</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Two
formats of Bid:</span></span></li>
</ul>
<span style="font-family: "georgia" , "times new roman" , serif;"> <span style="font-weight: normal;">- </span><span style="font-weight: normal;">Techno Commercial Bid- Scope of<span style="mso-spacerun: yes;"> </span>Supply</span></span></h4>
<h4 style="text-align: left;">
<span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;"> - Price Bid.</span></span><ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Negotiate
only on Technical Bid before opening price bid.</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Supplementary
Price Bid only to meet increase/decrease in scope of supply.</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Don’t
allow decrease in the price.</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Bidders
to be present at opening of tender even limited tender.</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;"><span style="text-indent: -0.25in;"><span style="mso-list: Ignore;"><span style="font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span></span><span style="text-indent: -0.25in;">Don’t
allow decrease in the price.</span></span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;"><span style="text-indent: -0.25in;"><span style="mso-list: Ignore;"><span style="font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span></span><span style="text-indent: -0.25in;">Bidders
to be present at opening of tender even limited tender.</span></span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;"><span style="text-indent: -0.25in;"><span style="mso-list: Ignore;"><span style="font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span></span><span style="text-indent: -0.25in;">Bidders
to be present at opening of tender even limited tender.</span></span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Don’t
alter the procedure/scope without intimation to all.</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Risk
purchase: </span></span><span style="font-family: "georgia" , "times new roman" , serif; font-weight: normal;">Reservation of right to procure the ordered<span style="mso-spacerun: yes;"> </span>material at the risk of the supplier.</span></li>
</ul>
<div style="text-align: left;">
</div>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;"><span style="text-indent: -0.25in;"><span style="mso-list: Ignore;"><span style="font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span></span><span style="font-weight: normal; text-indent: -0.25in;">Guarantee
& Warranty, Decide Period.</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif; font-weight: normal;"><span style="text-indent: -0.25in;"><span style="mso-list: Ignore;"><span style="font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span></span><span style="text-indent: -0.25in;">Validity
of Bid beyond opening of Tender</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif; font-weight: normal;">Arbitration
under Arbitration Act.</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif; font-weight: normal;">In
case of PSU supplier Arbitration by Department of Public Enterprise.</span></li>
</ul>
</h4>
</div>
<div class="MsoNormal">
<h4 style="text-align: left;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">BOUNCING OF CHEQUE</span></b></h4>
<div style="text-align: left;">
</div>
<ul style="text-align: left;">
<li style="text-align: justify;"><span style="font-family: "georgia" , "times new roman" , serif;">Section
138 of the Negotiable Instruments Act, 1881.</span></li>
</ul>
<ul style="text-align: left;">
<li style="text-align: justify;"><span style="font-family: "georgia" , "times new roman" , serif;">Buyer
has to pay the invoices, either by Demand Draft or Cheque.</span></li>
</ul>
<ul style="text-align: left;">
<li style="text-align: justify;"><span style="font-family: "georgia" , "times new roman" , serif;">If
the Cheque bounces back, what is the remedy?</span></li>
</ul>
<ul style="text-align: left;">
<li style="text-align: justify;"><span style="font-family: "georgia" , "times new roman" , serif;">Buyer
can be prosecuted under Section 138 of the Negotiable Instruments Act by the
Supplier.</span></li>
</ul>
<h4 style="text-align: left;">
<b><span style="font-family: "georgia" , "times new roman" , serif;">Conditions to be satisfied for
prosecution:</span></b></h4>
</div>
<div class="MsoNormal" style="text-align: left;">
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;"><span style="text-indent: -0.25in;"><span style="mso-list: Ignore;"><span style="font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span></span><span style="text-indent: -0.25in;">Cheque
is returned unpaid by the Bank.</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Cheque
was returned because of the insufficiency of funds in the Bank.</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;"><span style="text-indent: -0.25in;"><span style="mso-list: Ignore;"><span style="font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span></span><span style="text-indent: -0.25in;">Cheque
was issued to discharge any liability already accrued.</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Cheque
should be presented to Bank within 3 months from the date of cheque.</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;"><span style="text-indent: -0.25in;"><span style="mso-list: Ignore;"><span style="font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span></span><span style="text-indent: -0.25in;">Supplier
must demand payment within 15 days from the date of receipt of Notice.</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;"><span style="text-indent: -0.25in;"><span style="mso-list: Ignore;"><span style="font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span></span><span style="text-indent: -0.25in;">Bouncing
of cheque is not a cognizable offence by Police. It becomes cognizable only when the Supplier decides to prosecute.</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Prosecution
is to be filed within 1 month from the date of cause of action.</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Cause
of action arises only when Buyer fails to pay within 15 days from the date of
receipt of notice.</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Even
if payment has been stopped by Buyer, if it is found that he did not have
sufficient funds, Buyer can succeed in prosecution.</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Punishment
is imprisonment upto two years or with fine upto two years or with fine upto
twice the amount of Cheque or with both.</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;"><span style="text-indent: -0.25in;"><span style="mso-list: Ignore;"><span style="font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span></span><span style="text-indent: -0.25in;">Latest
Supreme Court Judgment is Reliance Case</span></span></li>
</ul>
<span style="font-family: "georgia" , "times new roman" , serif;"> - Post dated Cheques are treated as valid Cheques</span><br />
<span style="font-family: "georgia" , "times new roman" , serif;"> - Stop Payment of post dated Cheques amounts to an offence</span><br />
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Besides
the remedy under the criminal law, you can also file a civil suit for recovery
of the amount.</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Both
the remedies can be pursued simultaneously.</span></li>
</ul>
<h3 style="text-align: left;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">WHAT IS BREACH OF CONTRACT?</span></b></h3>
<h4 style="text-align: left;">
<div style="text-align: left;">
</div>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Actual
Breach</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Anticipatory
Breach</span></span></li>
</ul>
</h4>
<h4 style="text-align: left;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">REMEDIES FOR BREACH</span></b></h4>
<h4 style="text-align: left;">
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Rescind the contract</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif; font-weight: normal;">Rescind
the contract.</span></li>
</ul>
<div style="text-align: left;">
</div>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Sue
for Damages.</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Specific
Performance.</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Injunction</span></span></li>
</ul>
</h4>
<h4 style="text-align: left;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">LIQUIDATED AND UNLIQUIDATED DAMAGES Vs. </span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">PENALTY</span></b></h4>
<h4 style="text-align: left;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">UNLIQUIDATED DAMAGES</span></b></h4>
<h4 style="text-align: left;">
<div style="text-align: left;">
</div>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Ordinary
Damage.</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Special
Damage.</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Exemplary
Damage.</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Nominal
Damage.</span></span></li>
</ul>
</h4>
</div>
<div class="MsoNormal">
<h4 style="text-align: left;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">PASSING OF OWNERSHIP IN PURCHASE
CONTRACT</span></b></h4>
<div style="text-align: left;">
</div>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Distinction
between Sale and Agreement to Sell.</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Where
Risk falls?</span></li>
</ul>
<h4 style="text-align: left;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">SALE </span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Vs. </span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">CONTRACT FOR LABOUR AND WORK</span></b></h4>
<h4 style="text-align: left;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">CONDITIONS AND WARRANTIES</span></b></h4>
<h4 style="text-align: left;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">IMPLIED CONDITIONS AND WARRANTIES</span></b></h4>
<h4 style="text-align: left;">
<div style="text-align: left;">
</div>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Caveat
Emptor.</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Merchantable
Quality.</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Merchantable
Title.</span></span></li>
</ul>
</h4>
<h4 style="text-align: left;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">ACQUISITION OF GOODS BY NON-OWNERSHIP<span style="mso-tab-count: 1;"> </span></span></b></h4>
<h4 style="text-align: left;">
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Hire/Hire
Purchase/ Loan</span></span></li>
</ul>
</h4>
<h4 style="text-align: left;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">HIRE PURCHASE</span></b></h4>
<h4 style="text-align: left;">
<div style="text-align: left;">
</div>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Hirer
has option to purchase by payment of last rent.</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Property
to pass only upon payment of last rent.</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Right
of termination before passing of property.</span></span></li>
</ul>
</h4>
<h4 style="text-align: left;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">SALE BY INSTALLMENTS</span></b></h4>
<h4 style="text-align: left;">
<div style="text-align: left;">
</div>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Ownership.</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Consequence
of Default of any Installment.</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">Deliberate
misrepresentation by shopkeepers.</span></span></li>
</ul>
</h4>
</div>
<div class="MsoNormal">
<h4 style="text-align: left;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">RIGHTS OF UNPAID
SELLER</span></b></h4>
</div>
<div class="MsoNormal" style="text-align: left;">
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">An<b style="mso-bidi-font-weight: normal;"> </b>unpaid
seller's right against the buyer personally are:</span></li>
</ul>
</div>
<div class="MsoNormal" style="text-align: left;">
<div style="text-align: justify;">
<span style="font-family: "georgia" , "times new roman" , serif;"><span style="mso-spacerun: yes;"> </span>- A suit for price.<o:p></o:p></span></div>
</div>
<div class="MsoNormal" style="text-align: left;">
<div style="text-align: justify;">
<span style="font-family: "georgia" , "times new roman" , serif;"><span style="mso-spacerun: yes;"> </span>- A suit for
damages. <o:p></o:p></span></div>
</div>
<div class="MsoNormal" style="text-align: left;">
<div style="text-align: justify;">
<span style="font-family: "georgia" , "times new roman" , serif;"><span style="mso-spacerun: yes;"> </span>- Stoppage of goods
in transit.<o:p></o:p></span></div>
</div>
<div class="MsoNormal" style="text-align: left;">
<div style="text-align: justify;">
<span style="font-family: "georgia" , "times new roman" , serif;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>- Exercise Lien on the Goods</span></div>
</div>
<div class="MsoNormal">
<h4 style="text-align: left;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "georgia" , "times new roman" , serif;">GENERAL TERMS AND
CONDITIONS OF PURCHASE CONTRACT</span></b></h4>
<div style="text-align: left;">
</div>
<div style="text-align: left;">
</div>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Pre-printed
general conditions.</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Separate
commercial terms.</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Other
Conditions:<span style="mso-spacerun: yes;"> </span></span></li>
</ul>
<span style="font-family: "georgia" , "times new roman" , serif;"><span style="mso-spacerun: yes;"> -P</span>.O. to override conflicting
conditions of Proforma / Final Invoice.</span></div>
<div class="MsoNormal">
<div style="text-align: left;">
</div>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Disclaim
QUANTUM MERIT- State Purchaser not liable to pay for more than what is ordered.</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Product
Liability.</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Right
to reject goods for quality.</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Force
Majeure Clause.</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Containers/
Packing cases free of charge or no obligation to return.</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Right
to rescind if initial supply fails.</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Excise
gate pass.</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Acceptance
of goods not to pre-empt other liabilities.</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Principal
to Principal basis.</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Alternate
Dispute Resolution. </span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Right
of Termination.</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Limited
right to use Supplier’s Trade Mark also as your own Trade Mark.</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Non-compete
Clause.</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Obligation
to survive termination of the Agreement.</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Choice
of Law.</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Not
Liable for IPR violation by Supplier.</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Passing
of Title-When to take place</span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;"><span style="text-indent: -0.25in;"><span style="mso-list: Ignore;"><span style="font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span></span><span style="text-indent: -0.25in;">Indemnity
Clause.</span></span></li>
</ul>
<ul style="text-align: left;">
<li><span style="font-family: "georgia" , "times new roman" , serif;">Right
of First Refusal.</span></li>
</ul>
</div>
<div class="MsoNormal" style="margin-left: .5in;">
<span style="font-family: "georgia" , "times new roman" , serif;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "georgia" , "times new roman" , serif;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "georgia" , "times new roman" , serif;"><br /></span></div>
<div class="MsoNormal" style="margin-left: .25in;">
<span style="font-family: "georgia" , "times new roman" , serif;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "georgia" , "times new roman" , serif;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "georgia" , "times new roman" , serif;"><br /></span></div>
<br /></div>
Ram Mallarhttp://www.blogger.com/profile/05277161346543532430noreply@blogger.com22tag:blogger.com,1999:blog-7210864519250675360.post-62876053965776639032015-04-15T11:31:00.002+05:302015-04-15T11:31:49.698+05:30HAND-OUT ON COMPANIES ACT, 2013. <div dir="ltr" style="text-align: left;" trbidi="on">
<br />To download the <b>Hand-Out on Companies Act, 2013</b>, <b>meant only for students of Prof. Ram Mallar in various B-Schools</b>, visit "Corporate Law" section of this Blog.<br />
<br />
<a href="http://rammallar.blogspot.in/p/corporate-law.html">http://rammallar.blogspot.in/p/corporate-law.html</a><br />
</div>
Ram Mallarhttp://www.blogger.com/profile/05277161346543532430noreply@blogger.com32tag:blogger.com,1999:blog-7210864519250675360.post-46726632052845769592014-10-14T18:28:00.000+05:302014-10-14T18:29:42.757+05:30HAND-OUT - 2013-ACT - BOARD OF DIRECTORS.<div dir="ltr" style="text-align: left;" trbidi="on">
<div style="text-align: justify;">
<span style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: justify;">To download the Hand-Out on 2013-ACT - Board of Direc<span style="font-family: 'Open Sans';">tors,</span></span><b style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: justify;"> meant only for students of Prof. Ram Mallar in various B-Schools, </b><span style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: justify;">visit </span><span style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: justify;">"Corporate Law" section of this Blog.</span><br />
<br />
<a href="http://rammallar.blogspot.in/p/corporate-law.html"><span style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: justify;">http://rammallar.blogspot.in/p/corporate-law.htm<span style="font-family: 'Open Sans';">l. </span></span></a><span style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px;"> </span></div>
</div>
Ram Mallarhttp://www.blogger.com/profile/05277161346543532430noreply@blogger.com5tag:blogger.com,1999:blog-7210864519250675360.post-51668344678710675582014-03-07T18:43:00.001+05:302014-03-07T18:43:48.809+05:30Ethics at Workplace<div dir="ltr" style="text-align: left;" trbidi="on">
<div style="text-align: justify;">
You can read and download Prof. Ram Mallar's presentation on the above topic made at a session held by TATA Power, on March 7, 2014, on the following link:</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<a href="https://drive.google.com/file/d/0BxzYBLnj_cbhMzlqRjRCQ20wanM/edit?usp=sharing">https://drive.google.com/file/d/0BxzYBLnj_cbhMzlqRjRCQ20wanM/edit?usp=sharing</a></div>
</div>
Ram Mallarhttp://www.blogger.com/profile/05277161346543532430noreply@blogger.com5tag:blogger.com,1999:blog-7210864519250675360.post-40699422627429330622014-03-03T11:59:00.000+05:302014-03-03T11:59:05.644+05:30Business Ethics Vs. Corporate Governance.<div dir="ltr" style="text-align: left;" trbidi="on">
<div style="text-align: justify;">
You can read and download Prof. Ram Mallar's presentation on the above topic made at a session held by Bombay Chamber of Commerce and Industry, on February 28, 2014, on the following link:</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<a href="https://drive.google.com/file/d/0BxzYBLnj_cbhY3lNV1k0dmMwbG8/edit?usp=sharing">https://drive.google.com/file/d/0BxzYBLnj_cbhY3lNV1k0dmMwbG8/edit?usp=sharing</a></div>
</div>
Ram Mallarhttp://www.blogger.com/profile/05277161346543532430noreply@blogger.com0tag:blogger.com,1999:blog-7210864519250675360.post-73786233491546814672014-01-13T14:23:00.001+05:302014-01-13T14:23:33.159+05:30Is there any justification for the Government to seek review of the Supreme Court judgement on Gay Sex? <div dir="ltr" style="text-align: left;" trbidi="on">
<div class="MsoNormal" style="text-align: justify;">
The Government has decided to seek review of the Supreme Court <b><i>(SC)</i></b> judgement of
December 11, 2013, on Section 377 dealing with gay sex. The Government strongly felt
that treating the consensual gay sex between adults as an offence is against the
fundamental rights of gay <b><i>(LGBT)</i></b> community and that Section 377 is British imposed archaic sodomy law. The Government feels
criminalizing sexual expression, that is penal-oral or penal-anal sex of
homosexual men and transgender persons strikes at the root of the dignity of
the homosexual men.<o:p></o:p></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
It is unfortunate that the Government for political reasons
refuses to put the real issue before the public, instead finds fault in the
well decided SC judgement. All that the SC has done was to reject the wrong
interpretation of section 377 by the Delhi High Court which decriminalizes gay
sex. If the highest court in the country to interpret the law is SC,
how Government can say that
interpretation of the SC is wrong. Then
whose interpretation is final? The SC said very clearly that though they do not agree that the gay sex should be
punished but the Section 377 as it stands leaves no scope to decriminalize the
gay sex. Section 377 states that whoever voluntarily has carnal intercourse
against the order of the nature with any man or woman commits an offence
punishable with imprisonment. All that
SC said that so long section 377 is on the statue book, gay sex is a punishable offence, and SC cannot help as
it cannot rewrite the law and it is for the Government to amend section 377 or delete altogether, if it so desires. <o:p></o:p></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
It means the Government for
ulterior political reasons does not want to take inevitable option of amending
the law but wants to pass the buck on the SC. The kind of Government we have today,
the stand taken by them is not
surprising as all along they have been only fooling or misleading people.<o:p></o:p></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
The real issue is
whether gay sex should be permitted? The other issue is if it is formally or
expressly not permitted in the society, should it be punished as an offence?
One more issue is, whether the homosexuality is for the public good, good of
the majority, or the progress of the mankind in the long run or for building civilization. Does it
promote or undermines the institution of Family which is the cradle of
civilization? <o:p></o:p></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
By presidential reference, the Government is giving impression that any sex whether between different gender or same gender,
so long it is fully consensual, it is the fundamental right of the
participating parties under the Constitution of India. Hence the same cannot be
faulted under any law including the Indian Penal Code which has suddenly
become an archaic law despite living
with it for the last 66 years. <o:p></o:p></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
My question is, does this applies to all sexual offences, if
the same is fully consensual? What
about the serious offences like
"Adultery" under section 497 of IPC . It states, whoever has sexual
intercourse with a married woman with
her consent, it is an offence and punishable and in such case the wife is not punishable. If you follow the Government logic, since Adultery is also fully voluntary and consensual intercourse, it
should be decriminalized. Incest is also
another sexual wrong which is not permitted in our society. Incest is a
prohibited sexual intercourse with blood relation including parent, grand
parent child, grand child, siblings.
This prohibited sex is also fully consensual and voluntary (and if not, it
amounts Rape). This also, according to Government's logic, should be decriminalized.
It also means no sex at anywhere and at
any place between any relationship should be banned so long they are
consensual.</div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<br />
<div class="MsoNormal" style="text-align: justify;">
If the Government succeeds, important question, therefore, is
whether will we be able to retain the fundamental basics of the present concept of family which is the
cradle of civilization and growth of the mankind?</div>
</div>
Ram Mallarhttp://www.blogger.com/profile/05277161346543532430noreply@blogger.com2tag:blogger.com,1999:blog-7210864519250675360.post-77992297270596183252013-10-21T18:48:00.000+05:302013-10-21T18:48:04.889+05:30 HAND-OUT ON BUSINESS LAW - II -THE DEPOSITORIES ACT, 1996: AN ANALYSIS<div dir="ltr" style="text-align: left;" trbidi="on">
<div dir="ltr" style="text-align: left;">
<span style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: justify;">To download the Hand-Out on 'THE DEPOSITORIES ACT, 1996: AN ANALYSIS',</span><b style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: justify;"> meant only for students of Prof. Ram Mallar in various B-Schools, </b><span style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: justify;">visit </span><span style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: justify;">"Corporate Law" section of this Blog.</span><span style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px;"> </span><br />
<br />
<a href="http://rammallar.blogspot.in/p/corporate-law.html"><span style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px;">http://rammallar.blogspot.in/p/corporate-law.html </span></a>
</div>
</div>
Ram Mallarhttp://www.blogger.com/profile/05277161346543532430noreply@blogger.com0tag:blogger.com,1999:blog-7210864519250675360.post-88905000793001693252013-10-19T17:52:00.000+05:302013-10-19T17:54:15.446+05:30BUSINESS LAW - II - HIGHLIGHT OF THE COMPANIES ACT, 2013.<div dir="ltr" style="text-align: left;" trbidi="on">
<span style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: justify;">To download the "Highlights of the Companies Act, 2013",</span><b style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: justify;"> meant only for students of Prof. Ram Mallar in various B-Schools, </b><span style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: justify;">visit </span><span style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: justify;">"Corporate Law" section of this Blog.</span><span style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px;"> </span><br />
<br />
<a href="http://rammallar.blogspot.in/p/corporate-law.html"><span style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px;">http://rammallar.blogspot.in/p/corporate-law.html </span></a>
</div>
Ram Mallarhttp://www.blogger.com/profile/05277161346543532430noreply@blogger.com4tag:blogger.com,1999:blog-7210864519250675360.post-8154738967419475942013-10-11T17:25:00.001+05:302013-10-11T17:25:27.464+05:30An Article on the Fall of Rajat Gupta by Prof. Ram Mallar published by Bombay Chamber of Commerce & Industry. <div dir="ltr" style="text-align: left;" trbidi="on">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiYiydYqLskTyKZxWV4-gqxIGHAtuP25fQhSvNcSrLb2QrQ2EfwzHaw7vDgFXNcMBYIxNn0OuUuVCHJS9xBl6WKBgbsReSJQO9lnMVdt03N5JGvTR7ILZ0Dm5DogQfRK__gXG4uc2245XE/s1600/RRM.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiYiydYqLskTyKZxWV4-gqxIGHAtuP25fQhSvNcSrLb2QrQ2EfwzHaw7vDgFXNcMBYIxNn0OuUuVCHJS9xBl6WKBgbsReSJQO9lnMVdt03N5JGvTR7ILZ0Dm5DogQfRK__gXG4uc2245XE/s640/RRM.JPG" width="452" /></a></div>
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Ram Mallarhttp://www.blogger.com/profile/05277161346543532430noreply@blogger.com1tag:blogger.com,1999:blog-7210864519250675360.post-55957869476373643812013-05-20T14:48:00.000+05:302013-05-20T14:48:46.427+05:30SHOULD WE LEGALIZE BETTING IN CRICKET? <div dir="ltr" style="text-align: left;" trbidi="on">
<span style="text-align: justify;">Disastrous.
Beware cricket lovers, if this happens, the </span><b style="text-align: justify;">Cricket</b><span style="text-align: justify;"> will be no more. It is the
betting lobby behind this suggestion to the Government. </span><br />
<div class="MsoNormal">
<o:p></o:p></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
I
write this in the wake of controversy over spot-fixing in IPL matches.The
Indian Premier League was hit with a massive blow when Delhi
Police arrested pacer S Sreesanth and his Rajasthan Royals teammates -- Ajit
Chandila and Ankeet Chavan for allegedly indulging in spot-fixing in at least
three IPL matches as per arrangements with bookies who are suspected to have
underworld connections abroad. Delhi Police on Sunday arrested three more
in the spot-fixing scandal including a former Ranji player.<o:p></o:p></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
Before
we attempt to legalize cricket betting, let us try to understand
what is Betting in general, Match Betting, Match Fixing,Spot Betting and
Spot Fixing in cricket. <o:p></o:p></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
Currently, "Betting" in general, subject to certain exceptions, is illegal in India,
including cricket betting. BETTING means Gambling (wagering) which
results either in a gain or a loss, which is purely based on luck or chance, without any exercise of intelligence, hence it is largely prohibited in India.
Match Betting or Spot Betting, therefore , fall within the meaning of
BETTING and hence currently prohibited in India. However, in genuine Betting, there is no cheating or fooling, it is done
transparently. <o:p></o:p></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
March
Fixing or Spot Fixing is more than the Betting. It is actually cheating and
fooling the innocent in the guise of betting. It is clear fraud on the
people who are betting in the cricket and also cricket fan and general public
who came to see the clean game of cricket . While, in cricket Betting the
result/outcome should be totally left to chance, but in the FIXING whether it
is the Match or a particular Spot (any event in the match), the same has
already been fixed by the Bookies through bribe/favors to the cricket players.
Betting syndicate, like so called D COMPANY, through the army of their
bookies manipulate the results of different spots in the cricket, some
time even the Match itself, by influencing the players, so that bookies
get the result what they want, so that nothing is left to chance or luck or its
destiny. In the process you cheat the bonafide betters and also more
importantly fool the public, who believe that what happened in the field is
genuine event, while actually it has been the creation of the betting syndicate
by bribing players so that it can make huge money. Since cricket betting is not
permitted, it is also the black money. In law, this constitutes clearly the
offenses of Cheating under Section 420 and Criminal Conspiracy under section
120-B of the Indian Penal Code. <o:p></o:p></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
Some people think that by legalizing betting, this menace will be
stopped. It is the opposite. By doing this, you will be indirectly
legalizing match fixing and spot fixing. As you have legalized betting, you will never know whether the outcome has been manipulated by fixing
with the help of corrupt cricketers . On the contrary, if the very
betting is illegal as it is now, it is far easier and convenient to
detect "Fixing" whether the spot or the match.<o:p></o:p></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
It
is unfortunate that even Times of India feels that betting in cricket should be
legalized. They say that their view is :"We have always consistently
maintained that betting should be legalized. Banning it only pushes it
underground, making it lucrative for criminal elements. That creates a
dangerous situation in which money can flow between gambling, drugs and even
terror, all of which the underworld dabbles in. The current spot fixing expose
only illustrates this point. Legalizing gambling would not only create an
additional source of tax revenues for the government, it would also minimize criminal involvement." Even the Union Sports Ministry, I understand,
is examining the possibility of legalizing betting in sports in the country
including Cricket. The Government's intention is to make money by taxing the
enormous betting proceeds without realizing its harmful effect to cricket.
Revenue is a major motivating factor for the Government of the day.<o:p></o:p></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
I
cannot agree to this. This is exactly what the betting syndicate and the
corrupt cricket players want. The greedy Government in the process is lured by
the chance of making good tax collection as they are in any way never
interested in anything clean anywhere in the country. <o:p></o:p></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
While
there may be a case for legalizing betting selectively, as done in the case of
horse race, state lottery, on -line betting in some areas, but
doing so in big sports like cricket, may endanger the very existence of the
cricket and its popularity.</div>
<div class="MsoNormal" style="text-align: justify;">
<o:p></o:p></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
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<div class="MsoPlainText" style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: center;">
<span style="font-size: medium;"><b><br /></b></span></div>
<div class="MsoPlainText" style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: center;">
<span style="font-size: medium;"><b>Prof. Ram Mallar.</b></span></div>
<div align="center" class="MsoPlainText" style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: center;">
© <b>2013<o:p></o:p></b></div>
<div align="center" class="MsoPlainText" style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: center;">
<b>Mallarr Law Associates LLP<o:p></o:p></b></div>
<div align="center" class="MsoPlainText" style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: center;">
3, Silver Cascade, 110AA, Near Ruby Mills, Senapati Bapat<o:p></o:p></div>
<div align="center" class="MsoPlainText" style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: center;">
Marg, Dadar West. Mumbai 400 028.<o:p></o:p></div>
<div align="center" class="MsoPlainText" style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: center;">
Tel. No.: 2432 28413 (3 lines)<o:p></o:p></div>
<div align="center" class="MsoPlainText" style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: center;">
Email: mlc@mallarlaw.com.<br />
Website: www.mallarlaw.com</div>
<div style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: right;">
<div style="text-align: center;">
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<b>********************************************************</b></div>
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Ram Mallarhttp://www.blogger.com/profile/05277161346543532430noreply@blogger.com0tag:blogger.com,1999:blog-7210864519250675360.post-19725267023222495222013-04-02T11:43:00.000+05:302013-04-02T11:43:06.983+05:30Satyam Scam: Is it failure of Business Ethics & Corporate Governance.<div dir="ltr" style="text-align: left;" trbidi="on">
<div style="text-align: center;">
<b><i>(The target audience my management students)</i></b></div>
<br />You can read and download Prof. Ram Mallar's presentation on the above topic, on the following link:<div>
<br /></div>
<div>
<a href="https://docs.google.com/file/d/0BxzYBLnj_cbhUy11TXkwSHFTSG8/edit?usp=sharing">https://docs.google.com/file/d/0BxzYBLnj_cbhUy11TXkwSHFTSG8/edit?usp=sharing</a></div>
</div>
Ram Mallarhttp://www.blogger.com/profile/05277161346543532430noreply@blogger.com1tag:blogger.com,1999:blog-7210864519250675360.post-85287065449449342412013-01-25T17:13:00.001+05:302013-01-25T17:13:32.332+05:30FALL OF Rajat Gupta<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="background-color: white; color: #222222; font-family: 'Open Sans'; line-height: 21px;"><span style="font-size: large;">You can read and download Prof. Ram Mallar's presentation on the above topic, on the following link:</span></span></div>
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<a href="https://docs.google.com/file/d/0BxzYBLnj_cbhdXNSZFExUmZ6ckU/edit"><span style="font-size: large;">https://docs.google.com/file/d/0BxzYBLnj_cbhdXNSZFExUmZ6ckU/edit</span></a></div>
Ram Mallarhttp://www.blogger.com/profile/05277161346543532430noreply@blogger.com0tag:blogger.com,1999:blog-7210864519250675360.post-3413381755803342022012-11-12T12:00:00.000+05:302012-11-12T12:00:43.233+05:30SENTENCING OF RAJAT GUPTA<div dir="ltr" style="text-align: left;" trbidi="on">
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I wrote in this Blog on June 19, about the conviction of Rajat Gupta by Federal Jury in Manhattan for professional misconduct and insider-trading. </div>
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Now on October 24, US District Judge, Jed Rackoff sentenced Rajat Gupta to two years in prison and also ordered him to pay USD 5 million fine. Rajat Gupta is one of the biggest catches so far for the Federal Government in its 5-year crack down on insider trading that has resulted in 69 convictions and shaken the entire security market across the globe. </div>
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Gupta spoke for the first time after his conviction and regretted terribly the impact of this incident on his family, friends and the institutions he worked for. He admitted that he has lost his reputation which he built for his life time and that the verdict is devastating. Even his defense attorney Gary Naftalis lamented that he was a role model and icon but now he is no more. The Attorney also said that while Rajat Gupta's friend Raj Rajaratnam benefited from the illegal insider trading upto USD 75 million, his client earned no profit. The Attorney also earlier urged the Court to a sentence of probation with instructions to perform community service, which the Federal Court found it difficult to accept as it wanted to send down tough message to those who indulge in professional misconduct (PS: In India, nothing would have happened to him). There were more than 400 letters written to the judge on behalf of Gupta which included Bill Gate and Kofi Annan. </div>
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As you know Rajat Gupta was the first non-American Managing Director of worldwide McKinsey & Co, Director of Goldman Sachs Group, Director of Proctor & Gamble, Trustees of Rocket Feller Foundation and Bill & Melinda Gates Foundation, founder of Indian School of Business, Hyderabad and Advisor to UN Secretary General. </div>
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Hence, what is the take-off for my management students who want to be vibrant and dynamic professional managers in the corporate world? I said earlier in this blog and in my many recent presentations on the subject made in various B-Schools in Mumbai that the fall of Rajat Gupta is a classic case of dominance of personal ethics (interest) over his professional ethics. It is a case of mixing pure personal ethics with professional ethics. All Directors/professionals have clear and sacrosanct duties of Board Room Secrets and Confidentiality, but unfortunately Rajat Gupta appears to have provided open lines for such secrets to his personal friends. What is important for you as professional manager is your determination and ability to discriminate personal ethics and professional ethics regardless of lure and temptation of pure personal interest. </div>
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<span style="font-size: large;"> <o:p></o:p><b>Prof. Ram Mallar.</b></span></div>
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© <b>2012<o:p></o:p></b></div>
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<b>Mallarr Law Associates LLP<span style="font-size: 15px;"><o:p></o:p></span></b></div>
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3, Silver Cascade, 110AA, Near Ruby Mills, Senapati Bapat<o:p></o:p></div>
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Marg, Dadar West. Mumbai 400 028.<o:p></o:p></div>
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Tel. No.: 2432 28413 (3 lines)<o:p></o:p></div>
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Email: mlc@mallarlaw.com.<br />Website: www.mallarlaw.com</div>
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Ram Mallarhttp://www.blogger.com/profile/05277161346543532430noreply@blogger.com0tag:blogger.com,1999:blog-7210864519250675360.post-78820294600654724342012-09-24T18:28:00.001+05:302012-09-24T18:28:21.858+05:30HAND-OUT ON BUSINESS LAW - II<div dir="ltr" style="text-align: left;" trbidi="on">
<span style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: justify;">To download Prof. Ram Mallar's Hand-out on Business Law-II,</span><b style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: justify;"> meant only for his students in various B-Schools - </b><span style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: justify;">visit </span><span style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: justify;">"Corporate Law" section of this Blog.</span><span style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px;"> </span>
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<a href="http://rammallar.blogspot.in/p/corporate-law.html" style="background-color: white; color: #888888; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: justify; text-decoration: none;">http://rammallar.blogspot.in/p/corporate-law.html</a>
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Ram Mallarhttp://www.blogger.com/profile/05277161346543532430noreply@blogger.com1tag:blogger.com,1999:blog-7210864519250675360.post-35427324719459545402012-09-24T18:25:00.000+05:302012-09-24T18:25:20.237+05:30HAND-OUT ON BUSINESS LAW - I.<div dir="ltr" style="text-align: left;" trbidi="on">
<span style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: justify;">To download Prof. Ram Mallar's Hand-out on Business Law-I,</span><b style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: justify;"> meant only for his students in various B-Schools - </b><span style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: justify;">visit </span><span style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: justify;">"Corporate Law" section of this Blog.</span>
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<a href="http://rammallar.blogspot.in/p/corporate-law.html">http://rammallar.blogspot.in/p/corporate-law.html</a>
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Ram Mallarhttp://www.blogger.com/profile/05277161346543532430noreply@blogger.com0tag:blogger.com,1999:blog-7210864519250675360.post-59891047761386750602012-08-21T16:26:00.000+05:302012-08-21T16:46:52.975+05:30UPDATED LEGAL PROVISIONS FOR MANAGERIAL REMUNERATION & APPOINTMENT OF MANAGERIAL PERSONNEL UNDER THE COMPANIES ACT, 1956. <div dir="ltr" style="text-align: left;" trbidi="on">
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You can read and download Prof. Ram Mallar's presentation made at WIRC-ICSI in August, 2012, on the above topic which also covers important amendments made in the year 2011. The link for reading and downloading the presentation is in "Corporate Law" section of this Blog. </div>
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Ram Mallarhttp://www.blogger.com/profile/05277161346543532430noreply@blogger.com0tag:blogger.com,1999:blog-7210864519250675360.post-63218556718347920522012-06-20T11:49:00.003+05:302012-06-20T12:00:48.572+05:30FAILURE OF PROFESSIONAL ETHICS CLAIMS ANOTHER MIGHTY INDIAN: RAJAT GUPTA<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-size: large;"><span style="background-color: white;">FAILURE OF PROFESSIONAL ETHICS </span><span style="background-color: white;">CLAIMS ANOTHER MIGHTY INDIAN: </span><i style="background-color: white;">RAJAT GUPTA</i></span></h2>
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We discussed in the class room how Satyam Scam is a classic example of failure of Professional Ethics by Ramalingam Raju. Rajat Gupta is another sad example of mixing his Personal Ethics with Professional Ethics as done by Ramalingam Raju in Satyam Computers. </div>
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I have been emphasizing that Personal Ethics and Business Ethics <i>(includes obviously professional ethics)</i> are different and for different purposes. You must make sure that as Professional Manager, learn to distinguish and separate your Personal Ethics from Professional Ethics. <i>(SEE MY ARTICLES POSTED on the subject of Personal Ethics, Business Ethics and Corporate Governance in February and March 2012)</i>. </div>
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Rajat Gupta was a Managing Partner of McKinsey & Co and Director of Goldman Sachs Group and Proctor & Gamble and so many other eminent positions. He is now convicted by a Federal Jury in Manhattan on June 15 for Insider Trading. He is found to have leaked sensitive information to his friend Raj Rajaratnam, Hedge Fund Manager. This can land Rajat Gupta into prison sentence of 20 to 25 years for securities fraud and conspiracy <i>(remember in noble India, even the murderer gets much lesser imprisonment)</i>. It is a sad event for all great professionals and also lesson that nobody is beyond the law in America <i>(of course not in our noble India)</i>. Raj Rajaratnam, his friend, who cofounded Galleon Group LLC was earlier convicted and sentenced to 11 years in prison for the crime of Insider Trading. Gupta is the latest example of mixing up personal agenda with the professional ethics. </div>
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We had seen in the class room of Business Ethics that personal ethics is what is good and bad for your personal life, whereas business/professional ethics is what is good and bad for your business/profession. Don’t mix the two. </div>
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The sheer greed of personal life led Ramalingam Raju to influence his Business Ethics and commit a fraud of Rs. 7,500 crores in Satyam Computers, <i>(overall total loss as computed by RBI is Rs. 20,000 crores)</i> In the case of Rajat Gupta, it is really strange, because he had everything what one possibly wants in the life, but it appears like Ramalingam Raju, he wanted MORE. Otherwise why did he pass on sensitive inside information not once but several times. As a Goldman Sachs Director, he passed on sensitive information to his friend Raj Rajaratnam, who made huge profits using this information. Yes, he may have been influenced by his friend Rajaratnam, but Rajat Gupta who is a role model for any professional in the world should have realized the tenets of his professional ethics, which gives an impression that what underlined the friendship between them is greed and barren selfish motive. </div>
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What is important for any professional or professional manager is the determination and ability to discriminate between Personal Ethics and Professional Ethics and adhere to the professional code regardless of lure and temptation of your personal ethics. This many times, unfortunately, with many people at different stages of life, borders on utter selfishness, greed and lust for money. </div>
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As said by me earlier in my articles, Personal Ethics with many are not necessarily based on selflessness or morals, it could be selfishness or dominated with self-interest. For such managers, it would be a big challenge to live upto the tenets of business ethics or professional ethics. </div>
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<o:p></o:p><b><span style="font-size: medium;">Prof. Ram Mallar.</span></b></div>
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© <b>2012<o:p></o:p></b></div>
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<b>Mallarr Law Associates LLP<o:p></o:p></b></div>
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3, Silver Cascade, 110AA, Near Ruby Mills, Senapati Bapat<o:p></o:p></div>
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Marg, Dadar West. Mumbai 400 028.<o:p></o:p></div>
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Tel. No.: 2432 28413 (3 lines)<o:p></o:p></div>
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Email: mlc@mallarlaw.com.<br />
Website: www.mallarlaw.com</div>
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</div>Ram Mallarhttp://www.blogger.com/profile/05277161346543532430noreply@blogger.com0tag:blogger.com,1999:blog-7210864519250675360.post-24137759214853862672012-06-07T18:32:00.001+05:302012-06-07T18:32:19.973+05:30Reebok Corporate Fraud.......... Another Satyam Scam is in the offing…..<div dir="ltr" style="text-align: left;" trbidi="on">
For the news of another Corporate Fraud under: "Reebok Corporate Fraud.......... Another Satyam Scam is in the offing"….. , "please visit "Ethics & Governance" section of the Blog.</div>Ram Mallarhttp://www.blogger.com/profile/05277161346543532430noreply@blogger.com0tag:blogger.com,1999:blog-7210864519250675360.post-8428070086009362242012-05-21T19:34:00.001+05:302012-05-21T19:34:55.061+05:30COMMITTEE TO FORMULATE POLICY DOCUMENT ON CORPORATE GOVERNANCE<div dir="ltr" style="text-align: left;" trbidi="on">
Please see the "Ethics and Governance" Section for the latest news from the Government on this subject. <br />
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<a href="http://rammallar.blogspot.in/p/pqr.html">http://rammallar.blogspot.in/p/pqr.html</a>
</div>Ram Mallarhttp://www.blogger.com/profile/05277161346543532430noreply@blogger.com0tag:blogger.com,1999:blog-7210864519250675360.post-35926456293287156092012-04-26T15:09:00.001+05:302012-04-26T15:09:52.493+05:30TELOMERES: BIOLOGICAL AGE - PART II<div dir="ltr" style="text-align: left;" trbidi="on">
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I refer to my last article; 'WHAT IS YOUR CORRECT AGE' posted by me on 20/2/2012. In short, what I said in the article is that a person dies not by his chronological age <i>(normal life span of 100 yrs)</i> but by his biological age <i>(due to abnormal shortening of telomeres in his body)</i>, based on the findings of the Nobel Laureate: Dr. Jerry Shay, Prof. of Cell Biology & Neuroscience at the University of Texas <i>(his finding that human chromosomes are protected by telomeres, had won the Nobel Prize for Medicine in 2009)</i>. The Nobel Laureate also said that the person dies when his telomeres <i>(caps on the cells containing chromosomes)</i> shortens to the one third of its normal length and not necessarily by his chronological age. I also said in my article that the pace of shortening of telomeres can be arrested by yogic exercise and meditation<i> (this is not my finding but that of the Nobel Laureate)</i> Our ancient text books and great sages also from time immemorial said that the meditation and yoga will cure diseases and improve our longevity, but they did not say how medically it worked to strengthen the telomeres to achieve that objective. My attempt in this article is to synthesize and relate what Dr. Jerry Shay, Dr. Jue Lin and another Nobel Laureate Elizabeth Blackburn have said about aging of telomeres as the cause of death, to the miracle of our yoga and meditation in curing diseases and prevent aging by strengthening telomeres. </div>
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Telomeres are caps on the billions of cells in our body which PROTECT chromosomes contained in the nucleus of each cell. DNA molecule is packaged into thread like structure inside the cells called chromosomes. It is an organized structure of DNA and protein that is found in the cells containing many genes. “……. Telomeres are tiny units of DNA at the ends of chromosomes that protects and stabilizes chromosomes. Every time cell divides, some telomeres drops off. After a certain number of cell divisions, which varies depending on the cell age, the telomeres reach a critical length and the cell typically dies". The telomeres are tied to the end of chromosomes to protect them from degeneration during the division. “....... In recent years, scientists have discovered that shorter telomeres are associated with broad range of aging related diseases and are predictive of incidence and poor diagnosis of cardiovascular disease and variety of causes". “......... Our findings suggest that traumatic and chronic stressful life events are associated with shortening of telomeres in cells of the immune system, but that physical activity may moderate this impact" said Co-author Dr. Jue Lin Ph.D, Associate Research Biochemist in the Laboratory of Senior Author and Nobel Laureate Elizabeth Blackburn Ph.D, the Professor of Biochemistry and Biophysics at UCSF. <i>(UCSF is a leading University dedicated to promote health worldwide, the University of California, San Francisco)</i>. Research findings also showed that an increase in the perceived stress over the course of one year was associated with decrease in telomere length during that time. People who exercise vigorously and consciously at least 3 times a week, that helps stabilizing shortening process of telomeres. </div>
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It is now well established that the telomeres, which is the protective caps on the ends of chromosomes are the measures of cell age and its health. The findings also suggest that the exercise may prevent their damage. Normal length of telomeres in the body is expected to last the full span of chronological age. It means they supposed to age at the same pace as your chronological age. Abnormal shortening of telomeres is associated with diseases or stress, then biological end will overtake the chronological end of the life. Remedy, therefore, is how to prevent the premature aging of telomeres so that we can live full span of our life as per chronological age. </div>
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Shortening of telomeres could be both cause and effect of chronic sickness, means Chronic sickness may result in abnormal aging of telomeres and vice versa. If this happens after middle age, one may attract more old-age sickness. Dr. Jui Lin, who obtained her Ph.D in molecular biology at Cornell University, says that we should slow the rate of telomere loss or prevention or slow down the rate of genomic instability. Telomere is the longevity marker. Nobel Laureate Elizabeth Blackburn said that good exercise protects against stress related chromosome ageing. Stress accelerates telomere shortening. </div>
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Both the Nobel Laureates <i>(Dr. Jerry Shay and Dr. Elizabeth Blackburn)</i> and also Dr. Jue Lin have established that lifestyle modification, meditation and yoga can help preventing abnormal degradation of telomeres, though the research is progressing for an effective medical intervention. This article is to focus what one can do to increase the life span, to prevent premature death <i>(biological death)</i> through the age old yoga exercise and meditation and positive frame of mind to slowdown the aging process of telomeres. </div>
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Abnormal aging process or deterioration of telomeres can be slowed down or normalized by practicing YOGA in a proper manner. By Y0GA what is meant is the yoga asanas coupled with complete relaxation of body and mind. Yoga asanas should concentrate on affected part of body if someone has medical complaint which will strengthen your deteriorating telomeres in that part of the body. It is better to combine yoga exercise with pranayama accompanied by meditation focusing on qualitative BREATHING. The secret of healing sick telomeres by yogic exercise and meditation is to concentrate on the affected parts of the body and touch your cells <i>(telomeres being caps of cells)</i> and gently give oxygen massage through breathing by nose <i>(and not by mouth)</i> and apply your mind. In other words, massaging of your deteriorating telomeres with pure oxygen and application of mind can be done only through correct breathing and correct yogic exercise relevant to the affected part of your body or organ. During the yoga exercise, meditation quietens your monkey mind and helps you to reach the affected parts of your organ and pump the oxygen to massage the telomeres. Remember the MIND is very powerful and it is the positive mind which is important. The positive mind achieved through meditation is the key to all healing. Application of positive mind through the yogic exercise on the affected telomeres and massaging them with oxygen supplied through breathing by nose is exactly what has been recommended by both the Nobel Laureates. Meditation is a technique to reduce stress and for quietening the mind which is very vital to improve the health of telomeres. "……. All chronic pain, sufferings and diseases are caused from lack of oxygen at the cell level <i>(telomeres)</i>" Prof. A. C. Guyton ,M.D. <i>(the Text Book of Medical Physiology - the world's most widely used medical text book of any kind and World's bestselling physiology book)</i>. If you check the life span of great yogis even in the recent past or through history, you will find they lived longer lives with all their faculties intact till their last breath. </div>
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Diabetes, blood pressure, digestive disorders, asthma and heart diseases are due to abnormal shortening of telomeres which can be controlled or in many cases reversed by telomere breathing through yoga and meditation. I am talking about yoga associated with asanas of Hatha Yoga which are popular as fitness exercises. I am not talking about yoga as means of enlightenment. Hatha yoga is pursued for health benefit it provides and not as a path for enlightenment. </div>
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<span style="font-size: large;"> <o:p></o:p><b>Prof. Ram Mallar.</b></span></div>
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© <b>2012<o:p></o:p></b></div>
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<b>Mallarr Law Associates LLP<o:p></o:p></b></div>
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3, Silver Cascade, 110AA, Near Ruby Mills, Senapati Bapat<o:p></o:p></div>
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Marg, Dadar West. Mumbai 400 028.<o:p></o:p></div>
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Tel. No.: 2432 28413 (3 lines)<o:p></o:p></div>
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Email: mlc@mallarlaw.com.<br />Website: www.mallarlaw.com</div>
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</div>Ram Mallarhttp://www.blogger.com/profile/05277161346543532430noreply@blogger.com0tag:blogger.com,1999:blog-7210864519250675360.post-33664183961589988702012-03-29T13:05:00.000+05:302012-09-24T18:26:00.383+05:30HAND-OUT ON BUSINESS LAW - II<div dir="ltr" style="text-align: left;" trbidi="on">
To download Prof. Ram Mallar's Hand-out on BUSINESS LAW - II , meant only for his students in various B-Schools - from "Corporate Law" section of this Blog.<br />
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<a href="http://rammallar.blogspot.in/p/mno.html">http://rammallar.blogspot.in/p/mno.html</a> </div>
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Ram Mallarhttp://www.blogger.com/profile/05277161346543532430noreply@blogger.com2tag:blogger.com,1999:blog-7210864519250675360.post-48246226102323170982012-03-26T12:37:00.000+05:302012-03-26T12:37:51.524+05:30SHOCKINGLY SAD NEWS OF GOVERNMENT SUPPORT TO GAY SEX IN SUPREME COURT.<div dir="ltr" style="text-align: left;" trbidi="on"><h2 style="text-align: left;"></h2><h2 style="text-align: left;"><ul style="text-align: left;"><li style="text-align: justify;"><b><span style="font-size: large;">SHOCKINGLY SAD NEWS OF GOVERNMENT SUPPORT TO GAY SEX IN SUPREME COURT. </span></b></li>
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</span></div><ul style="text-align: left;"><li style="text-align: justify;"><b><span style="font-size: large;">IS GOVERNMENT MAKING GAY SEX AS STATE POLICY? </span></b></li>
</ul></h2><div style="text-align: justify;">Please see the news item in Times of India dated March 22 and 23, 2012. Government of India told the Supreme Court that it supports the decision of the Delhi High Court which has legalized the consensual gay sex between the two adults. </div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">This is a big blow to the morals in the society. At worst <i>(if the Government really loves the rule of law so much, its past conduct however does not show)</i> what the Government should have declared that, while it does not have any legal objection, but IT DOES NOT AND CANNOT SUPPORT THE GAY SEX AS A POLICY OF THE GOERNMENT OF THE DAY. Unambiguous impression it gave to the Supreme Court in the hearing of Appeals against the 2009 judgement of the Delhi High court, is that GAY SEX has the support of the Government which virtually amounted to constitute State Policy after the Delhi High Court judgement. In my view, it never told the court that it does not support gay sex. What a pity? </div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">The Government should understand that it is not only the legal issue involved, it is the vital moral issue in the society. The question is, what kind of advice it wants to give to the general public after the Delhi High Court judgement or the advice it wants to give to the mankind? It would have easily told the court that while it does not have enough material to legally justify the section 377 of IPC enacted during British time way back in 1860, certainly it cannot support gay sex on the moral or ethical plane, as it is against what is considered MORAL and IMMORAL in the Indian society. In my view, the Government has no business to morally support Delhi High Court decision, which itself did not say anywhere that the gay sex is morally correct. All that it did, is to decriminalise Section 377, to the extent that so long gay sex is voluntary and consensual, the parties cannot be punished by the state for committing a crime. We must understand that it could be legally right, because there is no force used to constitute a crime. The court never said that gay sex should be supported by an overt action of the Government as if it is a fundamental right of a common man. </div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">Legal rights and moral rights are different. What is not crime does not necessarily mean it is morally right. The fact that the High Court did not find the consensual gay sex as crime, that act does not become morally right and what is not morally right need not be a crime. For the smooth running of decent society, there are many moral rights and personal ethical practices which cannot be enforced as legal rights. That does not mean that any Government in its senses discourages such moral rights or moral values, simply because it cannot legally support or enforce in the Court of Law. In fact, many immoral actions not amounting to offenses under IPC are shunned, discouraged and not tolerated by the society and it is the duty of the Government of the day to support all the morals/ethics of the society. </div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">Surprisingly, the Government argued before the Supreme Court that the Indian society had much greater tolerance for homosexuality. They said temple sculpture depicted group sex, oral sex and sex in every conceivable position and hence it is permitted in the society. I am sorry, I do not admit this. Not everyone in the society is saint, otherwise society would have been a heaven. There are sinners, that does not mean that they should be hanged. There is always aberration in every field of human activity. There are always exceptions and departures. But it does not mean the aberrations, exceptions and departures should become the rule or the norm in the society. </div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">What the limited point Delhi High Court decided is that the consensual/voluntary sex in PRIVATE among gay adults does not amount to an offence or crime. But, as usual, the Government miserably failed to manage this limited issue thrown up by the Delhi High Court. May be the High Court did its duty strictly under the law, but our Government miserably failed to deal with the consequential moral issues arising from the judgement and did not realize its true role in such situation. By the official stand taken by the Government, I want to know what does the Government want to say to our children, to go ahead with gay sex or other unnatural form of sex and that it will support them? The present support to gay sex virtually has become the State Policy of the Government of the day. This has badly undermined the very institution of marriage and family which have been supported throughout our civilisation. Gay sex is unnatural and not part of the mindset of a normal man and it is an aberration. We cannot tell our children that this is the right thing to do. We cannot build our civilisation on this premises. The Government or responsible citizen should always propagate what is good for the general public, for common man in the long run and should not make the exception or aberration in the society as the rule. Does the government wants to say that there is no need to marry? Promiscuity and gay sex are perfectly alright? Sex of any kind whether natural or unnatural is proper and acceptable? In my view, this will ruin the society in the long run. </div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">By this move, the government is not decriminalising gay sex, but remoralising what has been considered all along an immoral act. Don’t be surprised if tomorrow Government strongly supports and promote gay sex as a measure of family planning and population control in the over populated nation, or make gay quota in parliament and berth in the cabinet and in government jobs. Or the Government may come out that they did so because of the compulsion of the coalition Government.</div><div style="text-align: justify;"><br />
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</div><div style="text-align: justify;"><div style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: center;"><b><span style="font-size: medium;">Prof. Ram Mallar </span></b></div><div style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: center;">© 2012 </div><div style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: center;">3, Silver Cascade, 110AA, Near Ruby Mills, </div><div style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: center;">Senapati Bapat Marg, Dadar (West). </div><div style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: center;">Mumbai 400 028. </div><div style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: center;">Tel. No.: 2432 28413 (3 lines) </div><div style="background-color: white; color: #222222; font-family: 'Open Sans'; font-size: 15px; line-height: 21px; text-align: center;">Email: mlc@mallarlaw.com.</div></div></div>Ram Mallarhttp://www.blogger.com/profile/05277161346543532430noreply@blogger.com2tag:blogger.com,1999:blog-7210864519250675360.post-74935822642282657232012-03-19T14:08:00.000+05:302012-03-19T14:08:42.615+05:30HAND-OUT ON BUSINESS ETHICS & CORPORATE GOVERNANCE.<div dir="ltr" style="text-align: left;" trbidi="on"><div style="text-align: justify;">To download Prof. Ram Mallar's Hand-out on BUSINESS ETHICS & CORPORATE GOVERNANCE,<b> meant only for his students in various B-Schools - </b>from "Ethics & Governance" section of this Blog.</div><div><br />
</div><div><a href="http://rammallar.blogspot.in/p/pqr.html">http://rammallar.blogspot.in/p/pqr.html</a> </div></div>Ram Mallarhttp://www.blogger.com/profile/05277161346543532430noreply@blogger.com20tag:blogger.com,1999:blog-7210864519250675360.post-38714121644411882192012-03-13T16:24:00.002+05:302012-03-13T16:24:49.813+05:30For article on: "CORPORATE GOVERNANCE And BUSINESS ETHICS." Please visit "For Student" section of the Blog.<div dir="ltr" style="text-align: left;" trbidi="on"><a href="http://rammallar.blogspot.in/p/abc.html">http://rammallar.blogspot.in/p/abc.html</a> </div>Ram Mallarhttp://www.blogger.com/profile/05277161346543532430noreply@blogger.com0