The subject of Economic, Business and Commercial Laws is inherently complicated and is subjected to constant refinement through new primary legislations, rules and regulations made thereunder and court decisions on specific legal issues. It, therefore becomes necessary for every student to constantly update himself with the various legislative changes made as well as judicial pronouncements rendered from time to time by referring to the Institute’s journal ‘Chartered Secretary’ and e-bulletin as well as other law/professional journals.
In the event of any doubt, students may write to the Directorate of Professional Development, Perspective Planning & Studies of the Institute for clarification at academics@icsi.edu.
Although care has been taken in publishing this study material yet the possibility of errors, omissions and/or discrepancies cannot be ruled out. This publication is released with an understanding that the Institute shall not be responsible for any errors, omissions and/or discrepancies or any action taken in that behalf.
Should there be any discrepancy, error or omission noted in the study material, the Institute shall be obliged if the same is brought to its notice for issue of corrigendum in the e-bulletin.
CS Executive EBCL Video Lecture
Objective
Part I : To provide expert knowledge in Foreign Exchange Management and NBFCs.
Part II : To provide expert knowledge in Competition Law.
Part III : To provide working knowledge in Business and Commercial Laws
Part I: Foreign Exchange Management &NBFCs (40 Marks)
Detailed Contents
Reserve Bank of India Act, 1934: Central Banking functions; Monetary policy; Penalties.
Foreign Exchange Management Act, 1999: Introduction
Foreign Exchange Transactions & Compliances: Current and Capital Account Transactions;
Acquisition &Transfer of Immovable Property in India and Abroad; Realization and Repatriation of
Foreign Exchange; Brief information of other FEMA Regulations.
Foreign Contribution (Regulation) Act, 2010: Introduction and Object, Eligible Contributor, Eligible
Receiver, Registration, Offences and Penalties.
Foreign Direct Investments – Regulations & FDI Policy: Automatic and Approval Route of FDI;
Setting up of Subsidiary/Joint Venture/Liaison Office/ Branch Office by Non-residents; Foreign Portfolio
Investments.
Overseas Direct Investment: ODI Policy, foreign currency remittances, Setting up of Subsidiary/Joint
Venture/Branch Office.
Liberalized Remittance Scheme: Investment Outside India by Indian Residents.
External Commercial Borrowings (ECB): An Overview.
Foreign Trade Policy & Procedure: Merchandise Exports from India Scheme (MEIS); Service Exports
from India Scheme(SEIS); Duty exemption / remission schemes; Export oriented units (EOUS);
Electronics Hardware Technology Parks (EHTPS); Software Technology Parks (STPS); Bio-Technology
Parks (BTPS).Imports and related policies.
Non-Banking Finance Companies (NBFCs): Definition; Types; Requirement of Registration as
NBFC and exemptions from registration as NBFC; Micro Finance Institutions, Activities of NBFCs;
Compliances by the NBFCs and requirements of approvals of RBI; Deposit Accepting and Non-deposit
Accepting NBFCs; Deemed NBFC; Core Investment Company and Systemically Important Core
Investment Companies; Peer to Peer Lending; Defaults, Adjudication, prosecutions and penalties.
Special Economic Zones Act, 2005: Establishment of Special Economic Zones; Approval and
Authorization to Operate SEZ; Setting up of Unit; Special Economic Zone Authority.
Case Laws, Case Studies & Practical Aspects.
Part II: Competition Law (25 Marks)
Competition Act, 2002: Competition Policy ; Anti-Competitive Agreements; Abuse of Dominant
Position; Overview of Combination and Regulation of Combinations; Competition Advocacy; Competition Commission of India; Appellate Tribunal.
Case Laws, Case Studies & Practical Aspects
Part III: Business & Commercial Laws (35 Marks)
Consumer Protection
Consumer Protection Act, 1986: Consumer Protection in India; Rights of Consumers; Consumer
Dispute Redressal Forums; Nature and Scope of Remedies.
Essential Commodities Act, 1955: Essential Commodities; Powers of Central Government; Authorities
responsible to administer the Act; Delegation of powers; Nature of Order passed under the Act; Seizure
and Confiscation of Essential Commodities; Offences by Companies.
Legal Metrology Act, 2009: Standard weights and measures; Power of inspection, seizure; Declarations
on pre-packaged commodities; Offences and penalties.
Property Law
Transfer of Property Act, 1882: Types of Properties; Properties which cannot be Transferred; Rule
Against Perpetuities; Lis Pendens; Provisions Relating to Sale; Mortgage, Charge, Lease, Gift and
Actionable Claim; Specific Performance.
Real Estate (Regulation and Development) Act, 2016: Registration of Real Estate Project; Real
Estate Agents; Real Estate Regulatory Authority; Central Advisory Council; The Real Estate Appellate
Tribunal; Offences, Penalties and Adjudication. Specimen Agreement for Sale between the Promoter
and the Allottee; Due Diligence Reporting.
Anti-Corruption Laws
Benami Transaction Prohibitions (Act): Benami Property; Benami Transaction, Prohibition of Benami
Transaction; Authority, Adjudication of Benami property.
Prevention of Money Laundering: Problem and adverse effect of money laundering; Methods of
money laundering; Offence of money laundering; Attachment, adjudication and confiscation.
Business Laws
Indian Contracts Act, 1872: Essential elements of a Valid Contract; Indemnity and Guarantee;
Bailment and Pledge; Law of Agency; E-Contract; Landmark judgments.
Specific Relief Act, 1963: Specific reliefs and defense; specific performance and defense;
unenforceable contracts; Rescission of Contracts; Cancellation of Instruments; Declaratory Decrees;
Preventive Reliefs.
Sale of Goods Act, 1930: Essentials of a Contract of Sale; Sale Distinguished from Agreement to Sell,
Bailment, Contract for Work and Labour and Hire-Purchase; Conditions and Warranties; Doctrine of
Caveat Emptor; Performance of the Contract of Sale; Landmark judgments.
Partnership Act, 1932: Rights and Liabilities of Partners; Registration of Firms; Dissolution of Firms
and Partnership; Landmark judgments
Negotiable Instrument Act, 1881: Negotiable Instruments and Parties; Material Alteration; Crossing
and bouncing of Cheques; Dishonour of Cheques & its Remedies; Presumption of Law as to Negotiable
Instruments; Landmark judgments.
Case Laws, Case Studies & Practical Aspects
Economic Business and Commercial Law (EBCL) Video Lecture
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