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Legal Services

Legal Services

Legal disputes and disparities are inevitable. We at ASC strive to assist you in all legal matters so that you can fluently sail through your corporate journey unworried about the legal complications that might place themselves in your ways to growth and prosperity. We at ASC are prepared to cater to all your legal needs with a team of esteemed lawyers and corporate professionals having expertise in targeted fields of legal occupation. 

Commercial Law, Drafting and Vetting of Documents/ Notices

Performance of agreements or obligations under business arrangements depends upon the clarity and quality of documents so executed to ensure that every party to such understanding delivers their services without any confusion, and if the expected performance is not delivered, the document must provide for a remedy to the aggrieved party either through arbitration or a right to approach the competent court of law. A proficient service providing Law Firm would always ensure that there is no ambiguity in the contents and at no point in time subsequently, interpretation of such documents leads to divergent opinions. The intent is that trade and business flow without any hassles and parties involved need not worry about future controversies.
Most of the agreements or understandings are arrived at based on the Indian Contract Act, 1872. However, many supporting legislation like the Sale of Goods Act, 1930, the Transfer of Property Act, 1882, laws about Intellectual Property Rights, the Negotiable Instruments Act, 1882 are inherent to the drafting of documents creating rights and obligations of agreeing parties. The format of any legal document would require that it is executed on the requisite value of stamp duty, have various recitals like names of parties, intent, and scope of objectives, covenants, termination clause, confidentiality, severability, jurisdiction in case of disputes, settlement through mediation/arbitration, etc.

Incorporation of Companies and Limited Liability Partnerships (LLPs), Mergers, Amalgamation, Acquisition, Compromise & Arrangement

Laws provide a status of separate legal entities to Companies and LLPs. Such corporate persons are backbones of the economy and almost all major activities relating to manufacturing and services are carried on under their names. These entities can avail loans in their own names and various tax-related laws of the country apply to them. Such laws provide ease of business to the promoters who set up these corporates and also give promoters liberty to wind up their businesses as and when they desire. Experience of Company Secretaries and Chartered Accountants in the matter of incorporation and taxation is of utmost necessity for the proper conduct of the business of such entities to earn profits. These corporate persons contribute immensely to the economy of India as they can also attract Foreign Direct Investment and Foreign Institutional Investors.
Given the increasing emphasis on adherence to norms of good corporate governance, Company Law assumes indispensable significance in the corporate legislative milieu, as it deals with the structure, management, administration, and conduct of affairs of Companies. Assistance may be required by corporates and individuals in strategic Mergers & Acquisitions, Joint Ventures, Corporate Restructuring, and General Corporate maneuvers.

Intellectual Property Law

Law also protects intangible properties like creations of the mind besides the protection accorded to tangible properties like a constructed dwelling or goods. Such property is known as Intellectual Property and is protected by Intellectual Property Law, generally by way of copyrights, patents, and trademarks. Legal assistance acquires significance in the usage, commercial vivacity, marketing, and distribution processes and techniques, infringement and duplication, ownership and usage rights for any creation or invention which falls within the ambit of Intellectual Property.

Insolvency and Bankruptcy Law (IBC), 2016

The IBC provides for Insolvency Resolution of Companies, Partnership Firms, and individuals as Borrowers or Personal Guarantors. The creditors (Financial or Operational) of such persons can move applications before NCLT for initiation of their Insolvency. Also, the companies or the individuals as Borrowers/ Personal Guarantors themselves can move to NCLT for curing their Insolvency. The intent is to revive or rescue such persons first to protect the inherent enterprise value embedded in them. If, however, such revival is not possible, the companies are to be liquidated and individuals to be pronounced bankrupt. Liquidation or the Bankruptcy involves selling of assets of such persons through a defined, transparent and legal process with the assistance of the Resolution Professional/ Liquidator to pay off their liabilities.   
The IBC provides a strategic opportunity to Personal Guarantors to get rid of their personal liabilities for a loan taken by a company and start a fresh life within a short period by getting themselves declared insolvent or bankrupt.  

Debt Recovery under SARFAESI Act/ DRT Act for Banks, Financial Institutions and Asset Reconstruction Companies 

The Loan given by banks turns Non-Performing Assets (NPAs) forcing banks to think of strategies to recover the overdue. SARFAESI Act 2002 gives powers to the bank officials to take custody of secured assets charged to them without the intervention of courts and sell it through a public auction for recovery. Through the enabling provision under SARFAESI Act, the banks can seek the assistance of the District Magistrate/CMM for taking custody of the asset in question should there be any resistance from the Borrower. The Debt Recovery Tribunals are quasi-judicial bodies specially established for the recovery of NPAs of banks and financial institutions. The recovery process under DRT is in two stages, first, the default of debt is adjudicated by the Presiding Officer, and in the second stage, and the Recovery Officer executes the decree for effecting the sale of the assets through public auctions. 

Recovery of Outstanding of Micro, Small and Medium Enterprises (MSMEs)

Recognizing the importance and contribution of MSMEs to the Indian economy, the MSMED Act provides that payments related to the supply of goods and services by MSMEs are to be made within 45 days. The Institute of Chartered Accountants of India (ICAI) has made it mandatory for all corporates to reflect in their balance sheets separately, the outstanding payments of MSMEs for more than 45 days. However, very often this important benefit accruing to MSMEs is ignored by companies, and their payments are not released within the stipulated time. If such payments are not released within 45 days, MSMEs can approach a Forum with Complaints identified under the MSME Act.

Labor Laws/ Industrial Relations

The Labor laws of the land give sufficient protection to the workforce to prevent their exploitation by the employers by providing minimum entitlements under various categories. Major Labor intensive laws about eligibility and payments to the workforce are regarding Provident Funds, Gratuity, Pensions, Maternity Benefits, ESI, Minimum Wages, etc. Employers are under a legal obligation to implement such laws at their workplaces and if not complied, there are provisions for penalties and imprisonment. The employers must adhere to compliance under Labor laws as a part of sound corporate governance.  The Trade Unions very often baffle the employers and they require legal and moral support on how to balance the interests with the Trade Unions for a harmonious industrial relation and supportive work culture.   

E-Commerce

With the growth of digital technology businesses is increasingly resorting to electronic commerce to modernize and expand their operations. E-commerce essentially implies the conveyances of goods and services through electronic systems. Certain fields of work are more susceptible to e-commerce than the others such as sales, distribution, financial transactions, service, and support.  

HOW ASC HELPS

Commercial Law, Drafting and Vetting of Documents/ Notices

  • Advice on negotiation and closing of business deals. 
  • Drafting of Agreements after the deals are closed to avoid possible confusion. 
  • Drafting of Notices for remedy or compensation for breach of the agreement.
  • Drafting of suitable replies to legal notices received during the course of business.
  • Invoking arbitration clauses in agreements, appointing appropriate arbitrators, and pleading cases in the arbitration proceedings.
  • Drafting and filing of commercial suits and contesting before courts of law.
  • Filing appeals in the competent court wherever necessary.

Incorporation of Companies and Limited Liability Partnerships (LLPs), Mergers, Amalgamation, Acquisition, Compromise & Arrangement

  • Guidance on the conversion of Proprietorship into a Company or LLP.
  • Guidance on the compliance requirements, the corporate structures, and governance, drafting Articles and Memorandum of Association, applying to Registrar of Companies (ROC) for incorporation, applying for Director Identification Number (DIN), and obtaining a certificate of commencement of business.
  • Listing on BSC or NSC and guidance on periodic listing compliances. 
  • Carrying out acquisitions, mergers, and amalgamations of companies along with the preparation of necessary documents and resorting to the Company Court, if necessary.

Intellectual Property

  • Registration of your intellectual property like a trademark, copyright, patents, designs, and geographical indications while assisting in filing the application and contesting it before the respective Tribunals;

  • Preparation of arguments, giving opinions, advice, and legal representation before Tribunals till final issuance of Certificates is granted.

Insolvency and Bankruptcy Law (IBC)

  • Drafting and filing applications in Company Court for initiation of Corporate Insolvency Resolution Process (CIRP) or Insolvency of Personal Guarantors/ individuals/ Partnership Firms. 
  • Guidance on Liquidation of companies and bankruptcy of individuals.
  • Suggesting names of experienced Insolvency Professional who can be appointed by the Court to propel the Insolvency proceedings.
  • Guidance about Insolvency and Liquidation processes to protect the interest of the company and keeping it safe from the attacks of various stakeholders.
  • Guidance to Personal Guarantors to companies/ individual Borrowers on declare themselves Insolvent or Bankrupt so that they can avail an opportunity to start the life and businesses afresh in a very short time.
  • Pre-insolvency guidance to companies facing insolvency symptoms.

Debt recovery under SARFAESI Act/ DRT Act for Banks, Financial Institutions (FI), and Asset Reconstruction Companies (ARCs)

  • Drafting of Legal Notices recalling the amount in default, drafting and filing of Recovery Applications before DRT, pleading the case on behalf of Clients to ensure a favorable Judgment in their favor, execution of the Recovery Certificate, attachment of personal assets of the Guarantor, Sale of assets under the Recovery Certificate for effecting inflows of cash.
  • Drafting Notices under Section 13(2) of SARFAESI Act on behalf of Financial Institutions, attending to the response received against the notice, applying to DM/CMM for taking custody of the secured asset, liasoning with Police to take actual physical possession, helping in the delivery of appropriate notices on the secured assets, drafting CL Notice to be published in the newspaper, doing marketing for sale and issuance of sale notice.
  • For the Borrowers against whom SARFAESI action has been initiated by a bank or Financial Institutions, we assess and guide the legality of the actions to protect their interest.
  • Guidance about legal due diligence on the assets under the purchase of ARCs.   

Recovery of Outstanding of Micro, Small and Medium Enterprises (MSMEs)

  • Drafting of legal notices for release of due payments, if payment to MSMEs is not made within 45 days.

  • If case the payment is still not released, filing and contesting the case before the Facilitation Council for release of the amount.  

Labor Laws/ Industrial Relations

  • Guidance to employers/ establishments for systematic compliance of all related labor laws, provisions to be made for gratuity fund, or contributions to be made towards PF or ESI.

  • Examining and responding to the notices received from the Inspectors or Commissioners for non-compliance to ensure avoidance of penalties and punishment.
  • Enabling the employers in training and developing their internal HR teams, sensitizing them about the laws and compliance requirements. 
  • Assisting employers in Trade Union meetings or negotiations on employee welfare activities or wage hike demands for peace and tranquility of the establishment.    

E-Commerce

  • Assisting the e-commerce businesses in setting up platforms with all the legal compliances applicable ranging from Information Technology law, cyber laws, and consumer laws to privacy, sale of goods, and service law.  
  • Guidance to the said platforms in drafting their policies, legal content for display on the website like the Terms of Use, Cookie Policy, etc.
  • Helping with Legal Metrology compliances under law.
  • Carrying out due diligence and prepare documents in respect of transactions with vendors.
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