Tradecareer

The Audit under SEBI (Depositories & Participants) Regulation, 1996 i. It is the duty of every issuer to submit an audit report on a quarterly basis on a recognized stock exchange. ii. Any difference in the records maintained by the issuer shall be reported to the depositories and stock exchanges. Internal Audit The two Depository service providers in India, viz., NSDL and CDSL have allowed Company Secretaries in whole-time practice to undertake internal audit of the operations of Depository Participants (DPs). Every Depository Participant shall ensure that an internal audit in respect of the operations of the Depository is conducted at intervals of not more than three months by a qualified Chartered Accountant or a Company Secretary holding a Certificate of Practice and a copy of the internal audit report shall be furnished to the Depository. Every Depository Participant shall ensure that an internal audit shall be conducted in respect of the participant's operations relating ...

  Single Person Law *A law may be constitutional, even though it relates to a single individual, if that single  individual is treated as a class by himself on some peculiar circumstances. *The case is Charanjit Lal Chowdhary v. Union of India, in this case, the petitioner was an ordinary shareholder of the Sholapur Spinning and Weaving Co. Ltd.  *The companythrough its directors had been managing and running a textile mill of the same name.                                                                                *Later, on account of mismanagement, a situation had arisen that brought about the closing down of the mill, thus affecting the production of an essential commodity, apart from causing serious unemployment amongst certain section of the community.  *The Ce...

         TRUST - What is trust & trust definition in law & process,limits A Trust is a relationship in which a person or entity holds a valid legal title to a certain property which is known as the Trust property.  The Trust is bound by a fiduciary duty to exercise that legal title for the benefit of any one or more individuals or group of individuals or organisations, who are known as the Beneficiaries.  The Trust shall be governed by the terms of the Written Trust agreement also called as Trust Deed. Trust is defined in section 3 of the Indian Trust Act, 1882 as - => “an obligation annexed to the ownership of property  => and arising out of a confidence reposed in and  => accepted by the owner, or declared and accepted by him,  => for the benefit of another or of another and the owner.  In other words, it is simply a transfer of property by one person (the settlor) to another  (the “trustee”) who manages t...

  Mercantile Law or Commercial Law It is that branch of law which is applicable to or concerned with trade and commerce in connection with various mercantile or business transactions.  Mercantile Law is a wide term and embraces all legal principles concerning business transactions.  The most important feature of such a business transaction is the existence of a valid agreement, express or implied, between the parties concerned.                                                                                The following are the main sources of Mercantile Law in India: 1. English Mercantile Law:  The Indian Mercantile Law is mainly an adaptation of English Mercantile Law. However, certain modifications wherever necessary, have been incorporated in it to  provide for l...

                                                      Law & five classes of law The nature and meaning of law has been described by various jurists. However, there is  no unanimity of opinion regarding the true nature and meaning of law. The reason for  lack of unanimity on the subject is that the subject has been viewed and dealt with by  different jurists so as to formulate a general theory of legal order at different times and  from different points of view, that is to say, from the point of view of nature, source,  function and purpose of law, to meet the needs of some given period of legal  development. The various definitions of law propounded by legal theorists serve to  emphasize the different facets of law and build up a complete and rounded picture of  the concept of law.        ...