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Showing posts with the label Banking and Finance Law Firm in India

The Wait for Justice in Litigation

Wait for justice in India can be agonisingly long as the first tier of the country’s justice administration system, district courts, is burdened with over 30 million pending cases and this number is increasing. More than two thirds of the pending suits are criminal cases, showing a lack of effective prosecution and early disposal. Large number of pendency of criminal cases are worrisome for two reasons. Firstly, it denies the access to justice to a large number of victims of crime. Secondly, because of slow progress of the criminal cases, a large number of undertrial prisoners continue to languish in jails, sometimes, they end up spending more time in jail as undertrials than the prescribed term of imprisonment for the crime they have been accused of committing. In September 2018, just before taking the charge, Chief Justice of India, Ranjan Gogoi had expressed concern over the huge pendency of court cases while addressing a group of young lawyers. “Two things are troubl...

Running a Business can be Stressful

Running a business in India can be extremely stressful and challenging. In fact, a study on entrepreneurial well- being by ASCENT Foundation and Mariwala Health Initiative recently found that nearly 8% of younger entrepreneurs and 6% of older entrepreneurs who are in family-owned businesses have had suicidal thoughts. Majority of the study participants said they experienced anxiety, confusion, irritability and frustration sometimes during their entrepreneurial journey.  The study, which received response from 186 entrepreneurs (of family run businesses and new age entrepreneurs) from the ASCENT cohort, between the age group of 20 to 60 years, showed that stress due to financial cash flows, fear of failure and disagreements with partners or family members are the top stressors, irrespective of their age and years in business . Add to this the cumbersome documentation and paperwork to be taken care of at every step of the process. All these hurdles function as impediments for...

Real Estate Legal Practice is Lucrative, Here’s Why

The real estate industry has been one of the most prominent pillars of the Indian economy. With a contribution of close to 6-8% to India’s Gross Domestic Product (GDP), it stands second in terms of employment generation. The sector has been at the cusp of transformation with policy changes, fall-out of funding agencies and their subsequent cautiousness towards residential projects, developers experimenting with new sectors and offerings, etc.  According to data released by the India Brand Equity Foundation, which is a government trust, by 2025, the country’s real estate sector is expected to contribute 13 per cent of the country’s GDP. By 2030, it is expected to reach US$ 1 trillion. Without relying on any more numbers, it would suffice to say that lawyers feed off such a healthy industry and a lavish five-course meal sort of feed off, at that. As regards the changes brought in by the Real Estate Regulation Act, the long-term prospects of these chan...

NRIs don’t need to Worry about their Legal Woes

The constraints of expatriate life make it challenging for a lot of Non-residential Indians (NRIs) to deal with situations, which are beyond their reach and control. One such situation is of course the handling of legal proceedings.  The legal ecosystem in India can discourage even those living in the country, considering the pendency and the hassles-- the delays, the appearances, the bureaucracy, the hearings, the adjournments, and the corruption. All this along with the constraints of non-residents having to travel back and forth to India and limitations of resources or time requires special legal assistance especially crafted for NRIs. And more so because legal cases involving NRIs may require engagement with multiple areas of law and dealing with the Indian authorities. For instance, they need advice on a hoard of subjects, ranging from investments, to regulatory and compliance, real estate acquisition and documentation, and dispute resolution.  NRIs should be able...

With growing Environment Challenges, Industries need Legal Guides to Steer through

Environmental and regulatory compliance issues are now part of everyday life for most businesses, even if they are not engaged in evidently hazardous activities. In such an environment of constantly changing climatic conditions, regulatory demands continue to widen, in response to increasing international environmental, human rights and trade concerns. Navigating through this mesh of compliance, national and international, requires guidance from experts with a global outlook and understanding of legal principles. This is where experienced law firms step in.  A law firm hired for such guidance and support should have an understanding of the balance between development and the sustainable impact of such development as well. Only with such sensitivity and grasp can a law firm do justice to the myriad of regulations and compliance that exist in the sphere.  The firm should be capable of engaging in all aspects relating to environmental complianc...