Business Law Level of knowledge: Basic understanding of legal aspects effecting business environment. Objective of study: This paper aims at familiarizing the students about the numerous legislations governing the operations of the business and its interpretation by the Judiciary. Course contents: 1. Part – A Company law (No. of sessions = 6, No. of hrs = 6*1.5 = 9) 1.1. Introduction to business laws, Constitutional framework of freedom of trade, commerce & business. 1.2. Company law - kinds, promotion, incorporation of company, memorandum and articles of association, doctrine of ultra vires, indoor management, prospectus, share capital, company meetings – requisites of a valid meeting, quorum, proxy, company management – directors, protection of minority shareholders, oppression & mismanagement, corporate governance – clause 49 listing agreement, winding up, contemporary issues. 2. Part – B Economic laws (No. of sessions = 6, No. of hrs = 6*1.5 = 9) 2.1. Monopolies & Restrictive Trade Practices Act / Competition Act Back ground and significance of MRTP Act, Definitions, Restrictive Trade Practices, gateways for exemption from RTP, Unfair Trade Practices, Monopolistic Trade Practices, MRTP Commission, powers. Introduction to Competition Act, purpose, prohibition of anti-competitive agreements, prohibition of abuse of dominant position, combinations – meaning, regulation over combinations, Competition Commission of India, orders of commission. 2.2. Foreign Exchange Management Act Definitions, authorised persons, current account transactions, capital account transactions, bank accounts in India in rupees, Foreign currency accounts by resident in or outside India, Powers of RBI. 2.3. Consumer Protection Act Consumer protection – consumer complaints, goods, services, consumer, unfair and restrictive trade practice, rights of consumers, adjudicatory bodies, district forums, state consumer disputes redressal commission, national consumer disputes redressal commission – their constitution, powers and procedures, appeal to Supreme court. 2.4. Information Technology Act Purpose, overview, digital signatures – authentication of records, verification of digital signature, electronic governance, certifying authority, penalties. 3. Part – C Intellectual property laws (No. of sessions = 2, No. of hrs = 2*1.5 = 3) 3.1. Trade Marks Act Registration of trade marks, assignment & transmission of trade marks, registered users, certification trade marks, trade mark agents, infringement and passing off proceedings, specimen caution notice. 3.2. Patents Act Inventions, application for patents, opposition of grant of patent, patents of addition, general principles applicable to working of patented inventions, international agreements. 3.3. Copyrights Act Meaning of copyright, works in which copyright subsists, registration of copyright, assignment, licenses. 4. Part – D Commercial laws (No. of sessions = 4, No. of hrs = 4*1.5 = 6) 4.1. Contracts Act Nature of contract, offer and acceptance, capacity to contract, consideration, free consent, unlawful agreements, void agreements, performance, discharge of contracts, remedies in case of breach of contract, quasi contracts. 4.2. Sale of Goods Act Sale and agreement to sell; conditions and warranties, transfer of property, unpaid seller, seller’s lien, auction sale. 4.3. Negotiable Instruments Act Concept, kinds – promissory notes, bill of exchange, cheque, concept of negotiation, assignment, dishonour, noting, crossing of cheques,bouncing of cheques. 5. Part – E Tax laws ( No. of sessions = 2, No. of hrs = 2*1.5 = 3) 5.1. Direct Taxes – Income tax, gift tax, wealth tax 5.2. Indirect Taxes – Central sales tax, Central excise, Customs. 5.3. Value added tax, Minimum alternate tax. 6. Part – F Self study topic 6.1. Environment Protection Act Central Government’s power to give directions, prevention, control and abatement of environment pollution, power to take samples, environment audit. 6.2. Other pollution control laws – Introduction, significance. Pedagogy 1. Lectures supplemented with case study analysis. 2. Assignments on concepts discussed in the class – essay type. 3. Mid term evaluation through written test - descriptive type. 4. Two short quizzes – objective type. 5. Project work and presentations (group task). Evaluation criteria Evaluation is done on a continuous basis to determine learning of students through: 1. First quiz – objective type = 10 2. Mid term test = 20 3. Second quiz – objective type = 10 4. Assignments = 10 5. Project work = 10 (presentations & report) 6. End term examination = 40 Total = 100 Prescribed readings 1. V.N. Shukla’s Constitution of India. 2. DD Basu, Constitutional law of India. 3. Anantharaman, KS, Lectures on Company Law & MRTP 4. Gulshan & Kapoor, Business Law 5. Gulshan, Consumer Protection Act. 6. Sood, Vivek, Cyber law Simplified, 2001. 7. Student’s Guide to Mercantile & Commercial Laws, Taxmann publications 8. Economic laws – 2003, Taxmann publications 9. Student’s Guide to Economic laws – 2003, V.S Datey, Taxmann publications 10. Students Guide to Income tax , VK Singhania. 11. Indirect taxes law & practice – VS Datey 12. Company Law & Practice- Majumdar & Kapoor.