Simplify Your Commission Bill Format for Public Relations with Ease

Commission bill format for Public Relations

hello everyone a very good morning to all of you welcome to the CIB brbl Chalisa so let's revise all the module in a very quick way okay so in brv as we know that there are four modules okay you can easily see that in four module we have in module a two acts module B four acts module C 10 act and module D there are total nine acts so total 25 Act is there in brbl subject okay now a quick revision of module D so class in module D the first is Indian contract act so Indian contract Act is basically it's talk about it is divided into two part the first is General principle of contract okay and the second part is the second part is special principle of contract so General principle of contract is essential points of the valid contract and special principle of contract as we can see that this is your five terms that we have to understand so essential points of valid contract is basically where two parties should be there in any contract the party should be offered and offering it's a party's name there should in the contract there should be the legal relationship between the parties exactly suppose if if we just take the example of house so house is not the example of valid contract because in house generally promises stay taken place okay so in valid contract there must be a legal relationship between the party just always remember the formula of contract that is in the general principle of contract offer plus acceptance is equal to promise promise in legal term is equal to agreement in agreement when law will be enforced that is equal to contract so this is the basic definition of the term contract is that okay now class there should be there should be the Fulfillment of the legal formalities if we are doing a valid contract so the formalities or the rules and regulations should be in the form of legal way okay then class the meaning and the terms of contract must be clear and specific ing to the contract in the contract the performance must be possible in the contract the performance must be possible if we talk about the agreement so contract must have the agreement agreement and that agreement must be the legal agreement because agreement can be the social domestic religious but in the Indian contract agreement must be the legal one free conscent agree it means whenever the two parties are doing contract the the conscent should be free it should not be in the form of fraud cian undu influence misrepresentation then parties must be competent to contract it means plus 18 sound mind not disqualified by law there should be lawful consider ation there should be legal object and the contract should not be void and illegal so that is a important points of the valid contract okay now if you talk about the special principle of contract Indemnity section 124 the one word to remember is loss loss to the one person protection of loss to the another person all the example of insurance is contract of Indemnity except life insurance two parties first is indemnifier the person who give give the protection and indemnity holder and indemnified are the same person it means the person who have taken the insurance is called Indemnity holder okay contract of guarantee section 126 there are three parties shity principal deor creditor the principal deor will take money from the Creditor okay and when the principal deor is not able to pay the money the shorty will pay three terms bailment contract of bailment section 48 so when one person deliver another person uh thing and that should be the for the specific purpose and when the purpose is accomplished the person can take back the things to the another person example taor example parking okay so if we are parking our car or if we just see the example of bank if I'm just keeping my jewelry in the safe custody that is called bailment bank is is Bailey Nikita ma is Baylor okay contract of pledge section 172 contract of pledge it means we are giving movable property as a security and we are taking the money that is called pledge agency section 182 contract of agency there are two parties agent and principal so agent is a person who always work under the guidance of principal that's it okay so this is the complete Indian contract act just quickly revise whatever I I have just uh you know shown please class and if you have a any doubt you can please ask in a comment box also okay I'm available in the comment box okay so this is your indent contract act okay class now the next one is your indan Partnership Act so indan Partnership Act as you can easily see that partnership definition is given in section four okay section four talks about the Indian partnership meaning okay section four so partnership is basically suppose these three are the partners in a particular partnership firm partnership form okay so the partners collectively is called partnership firm and what exactly the partnership means it is basically the main aim is to do the business profit will be Shar among all and loss will be Bear by all the person types of partner partnership by will no time limit partnership particular partnership that is the partnership is made for the particular project when the project is complete partnership will be finished and then partnership at a fixed period so fixed period means suppose the partnership partnership is made for the one year two year three year Etc so this is called the fix partnership okay so there are three types of partnership add for the partnership firm registration is not compulsory so it is optional for the partnership firm to be registered or non-registered if we talk about the negative impact on the non-registration of partnership so negative impact is that the first of all the business will not impact but in the non-registration of partnership the partner cannot file you against firm and partner if suppose if minor become a partner so first of all Miner cannot be a partner but suppose if Miner become a partner so if he become a major suppose now the miner become major so he have a six Monon of time period in which he have to declare in the public notice that whether he want to become a partner or not to become a partner so this is your minor as a partner okay that is given in section 30 suppose when the partner when when the minor become measure and he declare as a partner so his liability will be arise when he is start taking benefit so on that time period the liability will be start dissolution of partnership it it can be either by the way way of interference of court or by not interference of Court okay you can see dissolution means end of the partnership firm minimum two partner in Partnership firm maximum 50 ing to company rule 2014 okay and ing to company act 2013 the maximum is 100 so this is very very much important and the maximum and minimum number of partner is not written in the Partnership Act but it is written in the Indian company act okay so that's it now class see the types of partner so active partner who actively participate in the business sleeping partner who does not actively participate nominal partner whose name is only given okay part partner by a stal the the person is not a partner but with the but the real partner introduce the person as a partner to the another person okay partner in profit he will take only profit not for the Loss Minor partner as we have already done this okay so this is the indent Partnership Act Now class sales of good act there is a sale there's an agreement to sale sale is basically that is a present sale okay present sale means the sor have given the ownership of goods to the buyer and buyer have given the price that is called sale agreement to sale is basically if Fe same agreement to sale is a future sale future sale means the things should be done at the future condition it is also known as guarantee so in condition suppose if the buyer purchase the things from the seller suppose if the buyer purchase the hot water bottle and that bottle is not ing to that so buyer have a right to just ask for the defend and the buyer can end the contract but in warranty there will be only the replacement of the item so this is called warranty okay right of unpaid seller unpaid seller means the buyer have not given the full price so right of unpaid seller is against the goods or against the buyer if we talk about against the good Leon Leon means seller can hold the goods till the full payment is not done suppose if the good is transferring to buyer he will stop it the buyer can also resale the goods okay write against the buyer he can just end the contract so file the case for the price file the case for damages that is compensation and file the case for any interest if it is there so this is your sales of good act then class if we talk about the company so company as we know that registration is very much compulsory if you are opening any company to the regist okay types of company there is a public company private company government company holding company subsidary company Indian company foreign company as you can easily see the name corporate Wheel company is a different entity and the members is a different entity this is called corporate wheel if a company is in company is in depth member is not liable because both are different entity member mandum of Association is a important document an article of Association is also a important document in memorandum of Association class there are six Clauses name Clause Capital Clause object Clause register Clause Association Clause okay name Capital object register liability Clause okay so there are six types of clause in the memorandum of Association an article of Association is basically it's talk about the internal rules and regulations of the company that is called article of Association Doctrine is a principle doctrine of ultra virus company cannot do the things which is beyond the memorandum of Association so Ultra varus means beyond the power you cannot do anything constructive notice constructive notice is basically suppose if the outsider want to invest in a company and the company have given all the document suppose if investor have not read the 10 points for that thing company is not liable it is a liability of investor that why he have not read the point so that's why this is called constructive notice so when constructive notice this is the protection for the company and indoor management this is a protection of the investor because in indoor management the company have changed the internal rules and regulations and that rules and regulations they have not informed to the investor who just want to invest so in indoor management that's protect the investor prospectus is just like a brocher so it's talk about the financials or you can say the future plan of the company that is called prospectus directors member so member have a staty right that is written in the ACT documentary right that is written in the document and legal right that is a Jour right if we talk about the winding up so in the winding up the company can be in by the help of tribunal and Company can be also end with a voluntary decision that's it okay now if you talk about the maximum in PR private company minimum 2 maximum 200 in a private company the director minimum is 2 maximum 15 public company member minimum 7 maximum unlimited public company director minimum 3 maximum 15 one person company member is minimum one maximum one director is minimum one maximum 15 so this is your total number of directors so this is all about your company act now class RTI we can seek the information from from the public information officer which is appointed by the public Authority whatever we are asked the information it should be in writing the fees will be only 10 Rupees information should be come within 30 days and within 48 hour in the case of life and Liberty of the person okay first appeal suppose sir is there Sor of Sir so first appeal within 30 days with the senior officer of cpio if we are not satisfied then within 90 days we can file the case to the cic okay in the state level it is sic okay and the central information commission have to dispose the matter within 30 days up to 45 days so up to 45 days they have to solve the matter the punishment will be penalty will be 250 rupees per day maximum up to 25,000 rupees very important term it is just a quick revision that is benefit for all of you all of you guys all of you so this is very much important for okay class cool now the next one is it's a TP act transfer of property acts let's revise the important term so first of all the definition of mortgage is defined in section 58 Clause a that's talk about the definition of mortgage when we give immovable property as a security this is called mortgage is that okay simple mortgage 501 so you have to read all the you have to learn all the sections simple mortgage 58b conditional 58 C user fuy 58d English mortgage 58e Equitable mortgage 58f and anomalus mortgage 58g so these are the types of mortgage is that okay now class you can see here in the simple mortgage no delivery of possession of property if the mortgager is not able to pay the money the court will intervene with the help of Court the mortgaging can sell the property in conditional mortgage the uh this one the mortgage deed will be automatically convert into the sale deed if the mortgager is not able to pay the money use of fuuy if mortgager is not able to pay the money mortgage can use and take the rent of rent from The Profit okay English mortgage that is a combination of simple mortgage plus conditional mortgage okay Equitable mortgage basically we just give the title this is the only mortgage where no registration is required okay animus mortgage the different types of mortgage or it is the combination of different types of mortgage this is your anomalous mortgage to the to the point we are just studying everything to the point okay next is it act it act have taken the reference from United Nation Commission on International Trade law when it act come into picture these four Act is some changes happen in this one IPC Indian Evidence Act Bank book Evidence Act and Reserve Bank of India investigation it should be done by inspector of police okay private key is basically to create the sign public key is to verify the sign the ACT is for appointment of any officer not below the rank of director to the government of India who shall adjudicate the matter so we can say adjudicate the matter okay then so this is the first appeal suppose if we are not satisfied with the matter of adjudicating Officer we can just appeal to the appellant tribunal and the appellant tribunal they have to finish the matter within 6 month and we can file the appeal to the appal and tribunal within 45 days and appal and tribunal is telecom regulatory dispute this one Telecom regulatory that's the name of appal and tribunal okay that is very important see then class LLP it is a combination of partnership plus company that is called LLP it is a body corporate Perpetual succession it means if the partners will not there the LLP will be go as it is uh LLP also have a separate legal entity apart from the partners they have a mutual agency LLP agreement is the important document they are also artificial legal person They al they have also have a common seal but in 2015 it is not compulsory the partners liability is limited the management of business is in the hand of the designated partner minimum two and maximum number of partner is unlimited okay so this is important about your LLP okay now class after LP prevention of corruption act special judge will be there who will appointed as a special judge who will just adjudicate the matter appointed by central government and state government session judge will be taken as a judge as a special judge okay and the trial court have to conclude the matter within 2 year up to four year that is very much important who will investigate the police officer not below the rank of if it is if the place is Deli inspector of police if the place is metropolitan areas Mumbai Kolkata Madras Ahmedabad then then assistant Commissioner of police and if the place is elsewhere then the deputy superintendent of police will be there okay the authority to examine the Banker's book is police officer below the rank of superintendent of police okay high court if you want to appeal and revision you can just file the case to the high court punishment will be minimum three maximum 7 year important point okay then after a quick revision of module C Lo adalat basically the Lo adalat is given in Legal Service Authority Act 1987 if we talk about the justice so they will just compromise and settle the matter jurisdiction if any matter is pending before court that matter can come that matter can become in L adalat if one of the party make an application to the court the matter can become come into the loc adalat if it is in opinion of the court if they think that the matter should be go to the Lo adalat the matter can become come is that okay if any person file the application to Authority and committee they can also send the the matter to the loc Adat the monetary compensation is up to 20 lakh whatever the justice justice is called award that should be binding on all the party no appeal after loc adalat and the Lo adalat have a same power just like the Civil Court to the point things we are just studying is that okay then after Bankers book Evidence Act in the Banker's book Evidence Act suppose if the matter is about bank and customer so the bank have to present the record which is maintained so book is called the record so the bank do not have to give the original copy the certified copy of any entry okay shall be received as a prima facy evidence of the existence of such entry and what is prima Facey evidence Prima fa is a legal word it means on the face of it on the face of it okay if suppose if bank is not a party in any case so no officer of Bank shall be compellable to produce any Banker's book which can be proved under this act by the production of certified copy okay inspection of book by the order of court and judge okay it should be made either with and without summon to the bank and it should be served within three clear days three clear days that is a working days important point okay then after consumer protection act okay consumer protection act so class in the consumer protection act we can say that customer okay this is a consumer consumer if he want to file the case in District commission 2 year is the limitation period if he want to file the case in state commission directly two year is a limitation period period and directly in National commission 2 years is a limitation period from District commission to State commission within 45 days from State commission to National commission within 30 days and from National commission to supreme court within 30 days from District commission to State commission 50% okay pay then he have then he can appeal from State commission to National commission 50% he have to pay then he can go to the National commission important Point jurisdiction 20 19 up to 1 CR State commission 1 CR up to 10 CR National above 10 CR 2021 it is up to 50 lakh state commission 50 lakh to 2 National commission it is above 2 very important point and the case can be filed where opposite party reside where complainant reside where cause of action taken place very important term is that okay Okay then msme if you talk about the penalty for the first conviction 1,000 if it is again not less than 10,000 1,000 minimum 10,000 maximum if not follow the rules and regulation of section 20 then the fine up to 10,000 rupees if we talk about the national board for msme 47 member out of which 18 is ex official member ex official means who have holding the two post advis committee the chairman of secretary Ministry of msme okay for this one five officers will be there three representative of state government and one representative of micro small medium Enterprise this is very much important for the micro investment is up to 1 CR turnover is up to 5 CR small investment up to 10 CR turnover up to 50 medium investment up to 50 turnover up to 250 CR uh the matter can be solved in in facil Council the council also refer the matter to the arbitration sorry first of all in conciliation within 90 days they have to solve the dispute if consolation is not able to file the case we can refer the matter to arbitration same within 90 days arbitration have to solve the matter we can also refer to the court but in if we are referring or appeal in court so 75% amount by appealant and the appealant must not be the supplier very important term okay then after class we have a IBC that is is a insolvency bankruptcy code 2016 four pillar it's a insolvency and bankruptcy Board of India as we can see here okay the first insolvency professional then information utilities and then adjudicating Authority so these are the four pillars of this one the corporate insolvency resolution process have to be finished within 180 days 90 days extra will be given if 66% voting of Committee of creditor fast trick they have to finish the matter within 90 days plus 45 days extra will be given suppose if the default is of individual and partnership firm DRT will solve the matter Dr applant and then Supreme Court if the corporate person or LLP matter will become come in nclt then nclat then Supreme code that is very much important integrated utman scheme 2021 the P three act has been removed and now one single act is made the banking omment scheme 2006 the banking scheme for nbfc and the utsman scheme from digital transaction that is important compensation is up to 20 lakh and for mental Agony compensation is 1 lakh rupees so adjudicating Authority will solve the matter within 30 days we can appeal before the applant authority and the applant authority is executive director important important point appal and authori class executive director okay then class this is a limitation Act so limitation Act as we can see that basically it's a threee is the limitation for Every Act and what you have to learn that is 12 year that is for the mortgage 30 year for the foreclosure and 12 year for the possession of immovable property see then after we have a again these are the important terms so in the whatever I have just highlighted just learn these term for execution of decree for lower court to high court appeal and for a lower court to other court appeal so this is the important term now class if we talk about DRT and Dr so when this act is come into picture so the case was filed whether this act is valid or not so when Union of India versus Dilly High Court Bar Association Supreme Court say that this act is totally valid DRT central government appoint presiding officer presiding officer should be qualified as a district judge tenure is 5 year and 65 year if they want to resign 3 month prior notice or central government can also remove by misbehavior and incapacity drat central government appoint chairperson as a head of Dr U the qualification is qualified to be the judge of high court or IND legal service at least three year or priding officer at least 3 year tenure 5 year plus 70 year and 3 month prior notice if they want to resign okay then the presiding officer will issue the recovery certificate okay if there's any mistake it should be done by presiding officer only suppose if you want to review the order passed by tribunal and the recovery certificate issued by tribunal So within 60 days you have to file the appeal DRT to Dr within 30 days file and 50% you have to pay then you can appeal within 6 month they have to finish the matter okay and the bank and financial institution they have to file the case within 3 Year from the cause of action very important point done Clause then it's a surfacey act so surfacey act again when this act come into picture it's a Maria chemical Union of India case in which it was held that this act is totally valid except section 17 Clause 2 in which it was said that 75% amount pay so this is removed if anyone content the provision what one year is a punishment plus fine plus both Metropolitan magistrate and judicial ministrate of first class if the complaint is filed by Officer of Central legistar or officer of Reserve Bank then they can also take the cogence of case penalty will be if not following the rules and regulations of Reserve Bank of India so up to not exceeding one CR okay if the amount is not quantifiable and twice the amount if the amount is quantifiable that is calculated continue then 1 lakh rupees per day adting Authority will solve the matter within 30 days you can go to the appal and authority and appal authority should be Central V of Reserve Bank Act is not applicable to the Leon pledge any vessel conditional sale hire purchase unpaid seller properties not liable for attachment up to 1 lakh rupees Etc okay so this is very much important so again class it's a quick version of module B RBA have a power under F to appoint the authorized person and to inspect the authorized person under the fam any violation okay if you any volate the fam then write to arrest and detention if you not follow the guidelines of RV twice the sum if the amount is quantifiable and if the amount is not quantifiable 2 lakh rupees if you do continue 5,000 rupees each day then assistant director who will just investigate the complaint dissolved by dispute is dissolved by ad reading Authority then special director is the first appeal and apperent Authority is the second appeal if there's a question of Law and interpretation of law then we can file the case to the high court and Supreme Court also and Ed is there for the investigation okay then class prevention of money laundering ACT first of all the term money laundering is not defined in prevention of money laundering act punishment is minimum 3 maximum 7 year maintenance of record above 10 lakh we have to maintain the record for the cross Coss border VI transfer more than 5 lakh for all the purchase of immoral property it is 50 lakh and more if the individual is going for transaction then the regulated entity have to see the valid document containing details of identity address one recent photograph such other document if client is a company certificate of incorporation memorandum and article of Association resolution from Board of director power of attorney officially valid document Etc if client is a partners ship firm registration certificate partnership deed officially valid document Etc if client is a trust registration certificate trust deed officially valid document Etc okay negotiable instrument act you have to learn these section 456 8 9 10 138 four promisory note two parties drawer pay bill of exchange drawer draw pay check draw drw pay holder holder in due course in holder in due course you can file the case for money but in holder you cannot file the case payment in due course good faith without any negligence section 138 talks about dishonor of check punishment is two year and twice the amount 143a it's talk about inim compensation okay inm compensation if the drawer inm compensation is 20% of the amount of the check within 60 days you have to give up to 30 days 30 days extra will be given if the draw the check is acit then the complant have to repay the amount account okay 138 appeal filed by drawer against conviction so again if he want to file the appeal 20% he have to pay Grace day three and acceptance of will of exchange is 48 Hours payment and settlement it is regulated by Reserve Bank of India and the board for regulation and supervision of payment and settlement system for gross settlement rtgs net settlement EST credit es debit any f up ET it is the Reserve Bank shall exercise the power function through the payment regulatory board and in the payment regulatory board Governor Deputy Governor one officer three person will be there that is a total number of members that is the total number of member important point then mortgage section 58 we have already done okay section 58 a cleton rule that is given in Indian contract section 59 6061 it is also called called fif for first in first out oh it is called setting aside the fund assignment process by which a person call assigner transfer the right and benefit to the another person hypothecation section 2 Clause n okay possession and ownership is with the borrower without delivery of possession to the movable property Leon that's the absolute right of Banker Leon 171 of the Indian contract talks about the journal leion set off enable him to just the debit balance in a customer account that is called setup so these are the rights of the bank then class module a two Act is there banking Resolution Act and Reserve Bank of India act 1934 section 42 talks about cash Reserve ratio 1934 section 5B banking definition section 22 license qualification of director 51% of the total number of directors shall be the person who have a special knowledge and practical experience with accountant Agriculture Rural economic banking 21 talks about control of loan advance 26 unclaimed deposit that is also known as def account 35a talks about the RBI to give direction to the bank and can take action 35a talks about banking overment scheme important Point balance sheet profit loss it should be signed by the manager and principal officer okay at least three directors and in the case of foreign Bank the agent of the principal officer of India can sign three copies we have to submit to The Reserve Bank of India winding up we can apply to the high court establishment of RB central government 50% state government 15 sponsored Bank 35% okay nbfc more than 50% stake is in the hand of government it's a nationalized bank fsdc C the chair person established by government chairperson Finance Minister and member are the head of RBI C B pfrda irda FMC subcommittee chairman is Governor RBA working group it's a inter regulatory technical group technical group on financial inclusion and financial literacy inter regulatory forum for monitoring Financial cnom meter early warning group working group on resolution resam for financial institution see and micro Financial monitoring group is there that is chaired by the chief economic adviser so class that's all for today's it's a marathon and all the best for everyone for the exam okay thank you so much