How to prepare CS Executive Economic Business Commercial Laws

Prepare CS Executive Economic Business Commercial Laws

In this article we will provide you Tips on How to Prepare CS Executive Economic Business Commercial Laws for December 2020 Exam. In previous Article we have told you about Best CS Executive Economic Business Commercial Laws Video Lectures. By going through this post, you will be able to approach this subject in a effective way.

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CS Executive Economic Business and Commercial Laws

How to prepare CS Executive Economic Business Commercial Laws : Lesson 1 – Reserve Bank of India Act, 1934

The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934. The purposes for which the Reserve Bank of India was established as India’s central bank have been spelt out in the preamble to the Reserve Bank of India Act, which states as follows:

(i)                  to regulate the issue of banknotes and the keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage; and

(ii)                that it is essential to have a modern monetary policy framework to meet the challenge of an increasingly complex economy ; the primary objective of the monetary policy is to maintain price stability while keeping in mind the objective of growth and the monetary policy framework in India shall be operated by the Reserve Bank of India.

The objective of the lesson is to introduce the students regarding:

• Origins of the Reserve Bank of India;

• Banking Functions;

• Issue bank notes;

• Monetary Policy Functions;

• Public Debt Functions;

• Foreign Exchange Management;

• Banking Regulation & Supervision;

• Regulation and Supervision of NBFCs;

• Regulation & Supervision of Co-operative banks;

• Regulation of Derivatives and Money Market Instruments;

• Payment and Settlement Functions;

• Consumer Protection Functions;

• Financial Inclusion and Development Functions;

How to prepare CS Executive Economic Business Commercial Laws : Lesson 2 – Foreign Exchange Management Act, 1999 – Introduction

The Foreign Exchange Management Act, 1999 (FEMA) is an Act of the Parliament of India to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India. The Act extends to the whole of India and it also applies to all branches, offices and agencies outside India owned or controlled by a person resident in India and also to any contravention thereunder committed outside India by any person to whom this Act applies.

It is expected that, at the end of this lesson, students will, inter alia, be in a position to:

• Understand the Concept of FEMA;

• Structure and Overall Schemes of FEMA;

• Rules and Regulations framed by RBI under FEMA;

How to prepare CS Executive Economic Business Commercial Laws : Lesson 3 – Foreign Exchange Transactions & Compliances

The management of foreign exchange is very important in the present day business. FEMA is a regulatory mechanism that enables the Reserve Bank of India to pass regulations and the Central Government to pass rules relating to foreign exchange in tune with the Foreign Trade policy of India. The Act is more transparent in its application as it lays down the areas requiring specific permissions of the Reserve Bank/Government of India on acquisition/holding of foreign exchange. It stipulate the strict compliances in case of import, export, debt funding, equity capital infusion, transfer of shares etc.

The objective of the lesson is to facilitate the students to acquaint with:

• Concept of Current Account Transactions and Capital Account Transactions;

• Compliances of acquisition and transfer of immovable property in India and outside India;

• Provisions of Realisation, Repatriation and Surrender of Foreign Currency;

• Limits for possession or retention of foreign currency or foreign coins; and

• Procedure for Adjudication, Appeal and Compounding.

How to prepare CS Executive Economic Business Commercial Laws : Lesson 4 – Foreign Contribution (Regulation) Act, 2010

Foreign Contribution (Regulation) Act, 2010 regulate the acceptance and utilisation of foreign contribution or foreign hospitality by certain individuals or associations or companies and to prohibit acceptance and utilisation of foreign contribution or foreign hospitality for any activities detrimental to the national interest and for matters connected therewith or incidental thereto. The Act mandates that every bank or authorized person in foreign exchange shall report to specified authority, the prescribed amount of foreign remittance, source and manner in which foreign remittance was received and other particulars.

It is expected that, at the end of this lesson, students will, inter alia, be in a position to:

• Regulation of foreign contribution, foreign Source and foreign hospitality;

• Accounts, Intimation, Audit and Disposal of Assets; and

• Inspection, Search and Seizure.

How to prepare CS Executive Economic Business Commercial Laws : Lesson 5 – Foreign Direct Investment – Regulation & Policy

Foreign Direct Investment (FDI) is a major source of non-debt financial resource for the economic development of India. Foreign companies invest in India to take advantage of relatively lower wages, special investment privileges such as tax exemptions, etc. To promote Foreign Direct Investment (FDI), the Government has put in place an investor friendly policy, wherein except for a small negative list, most sectors are open for 100% FDI under the Automatic route.

The objective of the lesson is to familiarize the students with:

• Eligible Investors under FDI;

• Entry Routes for Investment i.e. Automatic Route, Government Route, Competent authority etc;

• Instruments for Investments i.e. equity shares/fully, compulsorily and mandatorily convertible debentures/fully, compulsorily and mandatorily convertible preference shares etc;

• Prohibited and Permitted Sectors;

• Conditions of FDI in major sector i.e. E-commence activity, Insurance etc.;

How to prepare CS Executive Economic Business Commercial Laws : Lesson 6 – Overseas Direct Investments (ODI)

Overseas Direct Investments (ODI) refers to the investments made in the overseas entities by way of contribution to their capital or subscription to the Memorandum of Association of a foreign entity or by way of purchase of existing shares of a foreign entity either by market purchase or private placement or through stock exchange, but it does not include portfolio investment.

Overseas investments (or financial commitment) in Joint Ventures (JV) and Wholly Owned Subsidiaries (WOS) have been recognised as important avenues for promoting global business by Indian entrepreneurs.

The purpose of the lesson is to familiarize the students with:

• Two way approach to the approval of direct investment, i.e. Automatic Route and Approval Route;

• Proposal for making ODI under approval route and Prior RBI approval;

• Financial Commitment;

• Eligibility to make ODI under the Automatic Route;

• Permissible Sources for Funding Overseas Direct Investment;

• Acquisition/Sale of Foreign Securities by Resident Individual in India; and

• Obligations of Indian party which has made direct investment outside India etc.

How to prepare CS Executive Economic Business Commercial Laws : Lesson 7 – Liberalized Remittance Scheme (LRS)

Liberalised Remittance Scheme was introduced on February 4, 2004 as a liberalization measure to facilitate resident individuals to remit funds abroad for permitted current or capital account transactions or combination of both. The Scheme is available to all resident individuals including minors and not available to corporates, partnership firms, HUF and trusts.

This lesson is designed to familiarize the students with:

• Overview of Liberalised Remittance Scheme;

• Permissible Capital Account Transactions and Current Account Transactions by an individual under LRS; and

• Remittance facilities to Persons other than Individuals.

How to prepare CS Executive Economic Business Commercial Laws : Lesson 8 – External Commercial Borrowings (ECB)

External Commercial Borrowings are commercial loans raised by eligible resident entities from recognised non-resident entities and should conform to parameters such as minimum maturity, permitted and nonpermitted end-uses, maximum all-in-cost ceiling, etc. Transactions on account of External Commercial Borrowings (ECB) are governed by clause (d) of sub-section 3 of section 6 of the Foreign Exchange Management Act, 1999 (FEMA).However, ECB framework is not applicable in respect of investment in Non-convertible Debentures (NCDs) in India made by Registered Foreign Portfolio Investors (RFPIs).

The objective of the lesson is to familiarize the students with:

• Overview of ECB, Tracks of ECB i.e. Track I, Track II & Track III and kinds of ECB;

• Routes available for raising ECB;

• Provisions of Conversion of ECB into equity;

• Procedure for raising ECB; and

• Reporting Requirements i.e. In case of Changes in terms and conditions of ECB, Conversion of ECB into equity etc.

How to prepare CS Executive Economic Business Commercial Laws : Lesson 9 – Foreign Trade Policy and Procedure

The Foreign Trade Policy, 2015-20, is notified by Central Government seeks to provide astable and sustainable policy environment for foreign trade in merchandise and services.India’s Foreign Trade Policy (FTP) has, conventionally, been formulated for five years at a time and reviewed annually. The focus of the FTP has been to provide a framework of rules and procedures for exports and imports and a set of incentives for promoting exports.

The objective of the lesson is to facilitate the students to acquaint with:

• Provisions regarding Imports and Exports;

• Importer-Exporter Code (IEC) Number/E-IEC;

• Required Documents for Export/Import of Goods From/into India;

• Merchandise Exports from India Scheme (MEIS);

• Service Exports from India Scheme (SEIS);

• Duty exemption / remission schemes;

• Export oriented units (EOUS);

How to prepare CS Executive Economic Business Commercial Laws : Lesson 10 – Non-Banking Finance Companies (NBFCs)

India has financial institutions which are not banks but which accept deposits and extend credit like banks. These are called Non-Banking Financial Companies (NBFCs) in India. The regulation and supervision of non-banking financial companies is one of the critical functions that the Reserve Bank of India (RBI) has been entrusted with. Reserve Bank of India(RBI) Act mandates every non-banking financial company to obtain a certificate of registration from RBI and to maintain net owned fund as may be specified by RBI in the Official Gazette, before commencing such non-banking financial business. Further, as part of regulation and supervision of non-banking financial companies, RBI has been conferred with the statutory powers to regulate or prohibit issue of prospectus or advertisements soliciting deposits of money by non-banking financial companies, power to determine policy and issue directions to non-banking financial companies.

The objective of the lesson is to introduce the students regarding:

• Types of NBFC;

• Activities of NBFCs;

• Compliances by the NBFCs;

• Deposit Accepting and Non-deposit Accepting NBFCs;

• Core Investment Company;

• Systemically Important Core Investment Companies; and

• Peer to Peer Lending.

How to prepare CS Executive Economic Business Commercial Laws : Lesson 11 – Special Economic Zones Act, 2005

Special Economic Zone Act, 2005 to provide for the establishment, development and management of the Special Economic Zones for the promotion of exports and for matters connected therewith or incidental thereto. SEZ Rules, 2006 authorises company secretaries to appear before Board of Approval constituted under Section 8 of the Act.

The purpose of this lesson is to provide the students with:

• Establishment of Special Economic Zones;

• Approval and Authorization to Operate SEZ;

• Setting up of Unit; and

• Special Economic Zone Authority.

How to prepare CS Executive Economic Business Commercial Laws : Lesson 12-Competition Act, 2002

Competition Act, 2002 to provide, keeping in view of the economic development of the country, for the establishment of a Commission to prevent practices having adverse effect on competition, to promote and sustain competition in the markets, to protect the interest of consumers and to ensure freedom of trade carried on by other participant in the markets in India and for matters connected therewith or incidental thereto. Competition Act, 2002, authorizes a company secretary holding a certificate of practice to appear before Competition Commission of India.

The objective of the lesson is to introduce the students regarding:

• Competition Policy;

• Anti-Competitive Agreements;

• Abuse of Dominant Position;

• Overview of Combination and Regulation of Combinations;

• Competition Advocacy;

• Competition Commission of India; and

• Right to legal representation.

How to prepare CS Executive Economic Business Commercial Laws : Lesson 13- Consumer Protection Act, 1986

The Consumer Protection Act, 1986 was enacted to provide for better protection of the interests of consumers and for the purpose of making provision for establishment of consumer protection councils and other authorities for the settlement of consumer disputes, etc. Consumer markets for goods and services have undergone drastic transformation since the enactment of the Consumer Protection Act in 1986.

The objective of the lesson is to introduce the students regarding:

• Consumer Protection in India;

• Rights of Consumers;

• Consumer Dispute Redressal Forums; and

• Nature and Scope of Remedies.

How to prepare CS Executive Economic Business Commercial Laws : Lesson 14 – Essential Commodities Act, 1955

The dominant object and intendment of the Act is to secure equitable distribution and availability at fair prices of essential commodities in the interest of the general public.The interest of the general public necessarily connotes the interest of the consuming public and not the interest of the dealer.

The purpose of this lesson is to provide the students with:

• Essential Commodities;

• Powers of Central Government;

• Authorities responsible to administer the Act;

• Seizure and Confiscation of Essential Commodities; and

• Offences by Companies.

How to prepare CS Executive Economic Business Commercial Laws : Lesson 15 – Legal Metrology Act, 2009

The branch of knowledge concerning weights and measures is technically known as legal metrology. In basic form, metrology is the science of measurement. Legal metrology Act, 2009 intend to establish and enforce standards of weights and measures, regulate trade and commerce in weights, measures and other goods which are sold or distributed by weight, measure or number and for matters connected therewith or incidental thereto.

The objective of the lesson is to introduce the students regarding:

• Standard weights and measures;

• Power of inspection, seizure;

• Declarations on pre-packaged commodities; and

• Offences and penalties.

How to prepare CS Executive Economic Business Commercial Laws : Lesson 16 – Transfer of Property Act, 1882

Property has, always, been on the fundamental elements of socio economic life of an individual. Transfer of Property means an act by which a living person conveys property in present, or in future, to one or more other living persons, or to himself and one or more other living persons and “to transfer property” is to perform such an act. Consequently, the law relating to transfer of property is not only an important branch of civil law but also one that demands proper elucidation due to its complexity.

It is expected that, at the end of this lesson, students will, inter alia, be in a position to:

• Understand types of Properties;

• Know Rules relating to Transfer of Property;

• Properties which cannot be transferred;

• Lis Pendens; and

• Understand Provisions Relating to Sale; Mortgage, Charge, Lease.

How to prepare CS Executive Economic Business Commercial Laws : Lesson 17 – Real Estate (Regulation and Development) Act, 2016

As per Section 56 of the Act, the applicant or appellant may either appear in person or authorise one or more chartered accountants or company secretaries or cost accountants or legal practitioners or any of its officers to present his or its case before the Appellate Tribunal or the Regulatory Authority or the adjudicating officer, as the case may be.

The objective of the lesson is to introduce the students regarding:

• Registration of Real Estate Project;

• Real Estate Agents;

• Real Estate Regulatory Authority;

• The Real Estate Appellate Tribunal; and

• Specimen Agreement for Sale between the Promoter and the Allottee; Due Diligence Reporting.

How to prepare CS Executive Economic Business Commercial Laws : Lesson 18 – Benami Transaction Prohibitions (Act)

Benami Transactions (Prohibition) Act, 1988 defines benami transaction and benami property and also provides for exclusions and transactions which shall not be construed benami. The legislation is also intended to effectively prohibit benami transactions and consequently prevent circumvention of law through unfair practices. It empowers the Government to confiscate benami property by following due procedure. It therefore promotes equity across all citizens.

The purpose of this lesson is to provide the students with:

• Benami Property;

• Benami Transaction;

• Prohibition of Benami Transaction; and

• Adjudication of Benami property.

How to prepare CS Executive Economic Business Commercial Laws : Lesson 19 – Prevention of Money Laundering

The Prevention of Money-laundering Act, 2002 enacted to prevent money laundering and to provide for confiscation of property derived from, or involved in, money laundering and for matters connected therewith or incidental thereto.

The objective of the lesson is to introduce the students regarding:

• Problem and adverse effect of money laundering;

• Methods of money laundering;

• Offence of money laundering; and

• Attachment, adjudication and confiscation.

How to prepare CS Executive Economic Business Commercial Laws : Lesson 20 – Indian Contracts Act, 1872

The Law of Contract constitutes the most important branch of Mercantile or Commercial Law. It affects everybody, more so, trade, commerce and industry. It may be said that the contract is the foundation of the modern world.

The Indian Contract Act, 1872 regulates all the transactions of a company.

• It lays down the general principles relating to the formation and enforceability of contracts; rules governing the provisions of an agreement and offer;

• Various types of contracts including those of indemnity and guarantee, bailment and pledge and agency; and

• It also contains provisions pertaining to breach of a contract.

How to prepare CS Executive Economic Business Commercial Laws : Lesson 21 – Specific Relief Act, 1963

The Specific Relief Act, 1963 was enacted to define and amend the law relating to certain kinds of specific relief. It contains provisions, inter alia, specific performance of contracts, contracts not specifically enforceable, parties who may obtain and against whom specific performance may be obtained, etc. It also confers wide discretionary powers upon the courts to decree specific performance and to refuse injunction, etc.

It is expected that, at the end of this lesson, students will, inter alia, be in a position to:

• Understand specific reliefs and defense;

• Specific performance and defense;

• Unenforceable contracts; and

• Know Decrees and Preventive Reliefs.

How to prepare CS Executive Economic Business Commercial Laws : Lesson 22-Sale of Goods Act, 1930

The law relating to sale of goods is contained in the Sale of Goods Act, 1930. In a sale, the property in the goods sold passes to the buyer at the time of contract so that he becomes the owner of the goods. In an agreement to sell, the ownership does not pass to the buyer at the time of the contract, but it passes only when it becomes sale on the expiry of certain time or the fulfillment of some conditions subject to which the property in the goods is to be transferred. The purpose of this lesson is to provide the students with:

• Essentials of a Contract of Sale;

• Sale Distinguished from Agreement to Sell;

• Bailment;

• Conditions and Warranties; and

• Doctrine of Caveat Emptor.

How to prepare CS Executive Economic Business Commercial Laws : Lesson 23 – Partnership Act, 1932

“Partnership” is the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all. Persons who have entered into partnership with one another are called individually, “partners” and collectively “a firm”, and the name under which their business is carried on is called the “firm-name”. In determining whether a group of persons is or is not a firm, or whether a person is or is not a partner in a firm, regard shall be had to the real relation between the parties, as shown by all relevant facts taken together.

It is expected that, at the end of this lesson, students will, inter alia, be in a position to:

• Understand Rights and Liabilities of Partners;

• Registration of Firms;

• Admission of new partners; and

• Dissolution of Firms and Partnership.

How to prepare CS Executive Economic Business Commercial Laws : Lesson 24 – Negotiable Instrument Act, 1881

A negotiable instrument may be defined as an instrument, the property in which is acquired by anyone who takes it bona fide, and for value, notwithstanding any defect of title in the person from whom he took it, from which it follows that an instrument cannot be negotiable unless it is such and in such a state that the true owner could transfer the contract or engagement contained therein by simple delivery of instrument.

The objective of the lesson is to introduce the students regarding:

• Negotiable Instruments and Parties;

• Effect of Negotiability;

• Crossing and bouncing of Cheques;

• Dishonour of Cheques & its Remedies; and

• Presumption of Law as to Negotiable Instruments.

Check out our articles for other Subjects

Module I

1. How to Prepare CS Executive New Syllabus Jurisprudence, Interpretation and General Laws 
2. How to Prepare CS Executive New Syllabus Company Law
3. How to Prepare CS Executive New Syllabus Setting up of Business Entities and Closure
4. How to Prepare CS Executive New Syllabus Tax Laws 

Module II

5. How to Prepare CS Executive New Syllabus Corporate and Management Accounting
6. How to Prepare CS Executive New Syllabus Securities Laws and Capital Markets 
7. How to Prepare CS Executive New Syllabus Economic Business and Commercial Laws
8. How to Prepare CS Executive New Syllabus Financial and Strategic Management 

For CS Executive New Syllabus Video Lectures, Click on Below mentioned Subjects

CS Executive New Syllabus Group 1 Video Lectures

CS Executive New Syllabus Group 2 Video Lectures

1. CS Executive Company Law New Syllabus Video Lectures

 

2. CS Executive Setting up of Business Entities Video Lectures

 

3. CS Executive Jurisprudence Interpretation General Laws Video Lectures

 

4. CS Executive New Syllabus Tax Laws Video Lectures

1. CS Executive Corporate Management Accounting Video Lectures

 

2. CS Executive Securities Laws Capital Markets Video Lectures

 

3. CS Executive Economic Business Commercial Laws Video Lectures

 

4. CS Executive Financial Strategic Management Video Lectures

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