Corporate Commercial Advisory
The primary areas of corporate law include company law and associated laws, such as those that regulate mergers and acquisitions, insolvency, and bankruptcy. The main objective of corporate law and the laws that come under its broad umbrella is to protect the corporation and those who are involved in it, including the directors, shareholders, investors, etc. Commercial and corporate regulations are one of our firm’s primary practice areas. This includes guidance with continuing business, regulatory problems, corporate, and governmental operations as well as transactional and legal consulting work. We have gained considerable expertise in resolving business problems from the onset and meeting usual corporate and regulatory requirements for a successful operation to help enterprises to attain their full potential by delivering services to both local and overseas clients. Further, consumer laws form an important part of the commercial law domain, since it impacts both the consumers and the companies.
With the tons of regulations governing this sphere, the scope for disputes to arise grows exponentially. Any dispute between parties that results from a business relationship is referred to as a commercial dispute. Examples include mercantile documents, the export and import of goods and services, admiralty and maritime law, aviation, infrastructure, real estate, franchising and distribution, joint ventures, and more. Along with litigation, alternative dispute resolution methods help in resolving conflicts in a more efficient manner.
- Advising Committee of creditors (CoC)
- Drafting and filing the resolution plan
- Representation of the client before NCLT, NCLAT
- Filing of notices
- Structuring the insolvency plan
- Recovery of rightful dues
Our team provides litigation and advising services to customers. The firm can provide comprehensive and efficient counsel to Clients because of its deep knowledge of fundamental corporate and commercial legislation and its comprehension of diverse business sectors. We have represented creditors and debtors in a number of cases concerning the Insolvency and Bankruptcy Code, 2016, before various appellate and company law tribunals. On behalf of a number of clients, the team has also started the insolvency resolution procedure and asked for relief before the NCLT. The firm is ideally situated to provide asset reconstruction companies with strategic guidance. The team assists and provides guidance in the evaluation of a stressed company’s assets and liabilities and, in accordance, provides advice on the risk associated with acquiring the businesses of stressed firms that are going through a resolution process.
1.What is the entire trajectory of the Companies Act till 2013?
The English Companies Statute, of 1844 is where the idea for the company act originated. The Joint Stock Companies Act, India's first companies law, was adopted in 1850. The Joint Stock Companies Act, of 1857, which took its place, was the first law in India to establish limited liability. The inclusion of the principle to banking firms amended this statute once again as a Joint Stock Companies Act, of 1860. The first complete Act, passed in 1866, addressed company creation, regulation, and dissolution. The 1882 recast of the 1866 Act was in effect until 1913. Later, the English Companies Act of 1908 and the Indian Companies Act of 1913 were both passed. Based on the English Companies Act, of 1943, the Companies Act, of 1956 was eventually approved and went into effect on 1 April 1956. There are 658 parts and 13 schedules in it. After 25 revisions, Parliament approved the 2013 Companies Act by drafting a new Company Bill. It becomes effective on August 29, 2013.
2.What is the three-tier quasi-judicial mechanism as per the existing consumer protection act?
The Consumer Protection Act of 2019 introduces a three-tier judicial framework for resolving consumer complaints. The Act also specifies the financial authority of each level of the consumer commission. First, complaints, where the value of the products or services paid as consideration does not exceed 50 lakh rupees, shall be heard by District Commissions. Second, complaints, where the value of the products or services paid as consideration exceeds 50 lakh rupees but does not exceed two crore rupees, must be heard by State Commissions. Thirdly, complaints, where the value of the products or services paid as consideration exceeds two crore rupees, must be heard by the National Commission.
3.What is the significance of the Foreign Exchange Management Act, of 1999 in the sphere of mergers and acquisitions?
FEMA addresses the idea of cross-border mergers. It refers to any combination, agreement, or merger between Indian and foreign businesses. According to the 25th rule of the 2016 CAA Rules, any cross-border transaction must be conducted through RBI, according to FEMA regulations. Section 234 of the Companies Act, which addresses cross-border mergers, was inserted as a result of the 2017 amendment. In 2018, the RBI published a notice in the official gazette requesting stakeholders to contribute to the rules. They will play a significant role since they will monitor the state of the market. Before 1999, there was the Foreign Exchange Regulating Act, or FERA 1973. As its name would imply, it served as a regulatory body. They lacked the authority to amend the legislation or enforce the regulations. It was unable to handle the LPG policy. The act needed to be repealed immediately, and a new one needed to be created that genuinely affected the economy and was taken seriously.
Why Avobe Legal
In our journey towards excellence, we are committed to attract, finest solution. Avobe Legal’s reputation is owed to the exceptionally talented and dedicated professionals whose ideas drive the Firm forward.
As one of Rajasthan’s boutique law firm, we help our clients grow, innovate and thrive. For over a period of two years, we have built a reputation for our expertise, specialised solutions and the ability to think ahead. We find the most relevant and highly tailored solutions to our clients’ composite legal challenges.
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