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kaleeyantey

What is the Difference Between Insolvency and Bankruptcy?

What is Insolvency? Often due to raised expenditures, low cash inflow, or inadequate cash-flow management, an individual or an entity becomes incapable of compensating for the due debts. This financial stress position of the company leads to its Insolvency. The next step in insolvency proceedings is liquidation, in which the assets and resources get divided among the creditors. And the business gets shut down. Alternatively, an insolvent entity can make contracts or informal meetings with beneficiaries to reorganise debts and clear them off. Types ...

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Categories:
Corporate law

How Can a Partner be Expelled from a Partnership?

A partnership firm would reconstitute if any minor adjustments were made to the dynamic between the partners. A partnership firm must get reconstituted whenever a new partner is added, or an existing member is dropped. Therefore, no addition or removal of a partner can be started without the current partners' agreement, subject to a contract between partners and the laws addressing minors in a firm. Under the Indian Partnership Act of 1932, this article discusses the legal repercussions of removing partners from a partnership firm. What is the Indian Pa...

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Categories:
Corporate law

What is a Quasi-Contract in Business Law? How Does it Benefit Parties?

Fast-growth companies that are scaling need to enter into contracts frequently and nurture them well. Contracts are of many types; one of the contracts discussed below is a quasi-contract. The contract is a signed document by both parties accepting the rights and obligations mentioned in the agreement. Contract in business minimises the risk and claims the damage with this legally binding document. Nowadays, contracts are between businesses, not people. Some basic contracts occasionally signed by people are to sell a house, accept a job offer, a partne...

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Categories:
Corporate law

Legal Things You Should Know Before Starting a Startup in Mumbai

Startups are businesses or ventures focused on bringing a single product or service to market. Here's everything you need to know about a startup in India. A startup is a business that is in its early stages of operation. These businesses generally begin with high costs and limited revenue, so they seek capital from various sources, including venture capitalists. These companies want to disrupt industries and change the world on a large scale. Startup founders dream of providing society with something it lacks but has yet to create, resulting in eye-po...

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Corporate law

Roles and responsibilities of banking lawyers in Mumbai

Without lawyers, companies can't go to battle. Or you might say it's like a healthy snack in your bag; you may not need it now, but it's better to have it. Here's everything about banking lawyers. Like any other industry, lawyers enter the banking industry to anticipate and resolve risks in transactions and future disputes. These advocates manage transactional paperwork, standardise documentation, design and execute rules, answer questions, stay up to date on regulations, ensure compliance, and resolve disputes. Most notably, banking lawyers in Mumbai ...

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Categories:
Corporate law

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