The Atalji Janasnehi Kendra Project that has been launched by the Government of Karnataka. The main objective of the project is to provide various services to the citizens through the Nadakacheri online portal. Nadakacheri portal provides various services to the citizens like caste certificate, income certificate, land documents, agriculture documents and various Social Security Pensions. Services of […]
Foreign direct investment (FDI) is a category of cross-border investment in which an investor resident in one economy establishes a lasting interest in and a significant degree of influence over an enterprise resident in another economy. Ownership of 10 percent or more of the voting power in an enterprise in one economy by an investor
The One Person Company (OPC) can be converted into a Private Limited Company (PLC) as per Section 18 of the Companies Act, 2013 (‘Act’) and the provisions of Companies (Incorporation) Rules of 2014 (‘Rules’). The conversion of OPC into a private limited company will not affect the existing debts, liabilities, obligations or contracts of the OPC. The requirements that are
Person by whom promise is to be performed —If it appears from the nature of the case that it was the intention of the parties to any contract that any promise contained in it should be performed by the promisor himself, such promise must be performed by the promisor. In other cases, the promisor or
Effect of refusal of party to perform promise wholly When a party to a contract has refused to perform, or disabled himself from performing, his promise in its entirety, the promisee may put an end to the contract, unless he has signified, by words or conduct, his acquiescence in its continuance.Illustrations(a) A, a singer, enters
Effect of refusal to accept offer of performance Where a promisor has made an offer of performance to the promisee, and the offer has not been accepted, the promisor is not responsible for non-performance, nor does he thereby lose his rights under the contract.Every such offer must fulfil the following conditions:—(1) it must be unconditional;(2)
Obligation of parties to contracts The parties to a contract must either perform, or offer to perform, their respective promises, unless such performance is dispensed with or excused under the provisions of this Act, or of any other law. Promises bind the representatives of the promisors in case of the death of such promisors before
Agreement contingent on impossible events void Contingent agreements to do or not to do anything, if an impossible event happens, are void, whether the impossibility of the event is known or not to the parties to the agreement at the time when it is made.Illustrations(a) A agrees to pay B 1,000 rupees if two straight
When contracts become void which are contingent on happening of specified event within fixed time —Contingent contracts to do or not to do anything if a specified uncertain event happens within a fixed time become void if, at the expiration of the time fixed, such event has not happened, or if, before the time fixed,
When event on which contract is contingent to be deemed impossible, if it is the future conduct of a living person —If the future event on which a contract is contingent is the way in which a person will act at an unspecified time, the event shall be considered to become impossible when suchperson does
CA Bhuvnesh Kumar Goyal
Chartered Accountants
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9971782649
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