Contract Drafting and Resolving Commercial Disputes In India

Crafting a contract with accurate evidence requires an excellent drafter to integrate comprehensive writing, appropriate terms of business deals and relevant legal concepts to promote unambiguous contracts. A critically drafted and reviewed contract does not only save substantial manpower and hours of labour but the effort in the growth of corporate and the viability of the commercial contracts.

What is Commercial Contract?

A Commercial contract is a legally binding agreement between parties in which they are obligated to do or restrain from doing particular things. Commercial contracts can be written, verbal or implied in a formal or informal manner. Commercial contract can include all aspects of a business, such as hiring, wages, leases, loans and employee safety. A breach of commercial contract takes place when a contracting party fails to live up to the agreements.


Commercial Disputes

The term “Commercial Dispute” has been very broadly defined in the Act to encompass almost every kind of transaction that gives rise to a commercial relationship. The subject matter of disputes is very wide including but not limited to issues relating to maritime law, construction and infrastructure contracts, ordinary commercial transactions, intellectual property rights disputes, disputes involving exploitation of natural resources, insurance and re-insurance disputes. Such Commercial Disputes shall now be adjudicated upon by these Commercial Courts/Divisions.

Current market challenges at the centre of commercial disputes in India

In India, delay in cases caused due to litigation and the inadequate number of judges. Although India has an excellent court of system and also independent of its executives, there are infrastructural inadequacies and shortage of judges. This comes delay in resolving disputes. Any commercial dispute ought to be disposed of as early as possible. Because of the delays, default in payment have also increased, so defaulters stand to benefit.

Arbitration facilities and processes in India

Arbitration facilities are insufficient. Despite this, there are some excellent retired judges who are doing a commendable job. There are a few institutionalized forums of repute which carry out arbitration. Recently enterprises have been made in different parts of India to provide more institutionalized arbitration, and several such forums have jumped up.

Obstacles or challenges to the Indian arbitration process that companies should bear in mind

Nature of judgments relies upon the identity of judges. This is considerably more applicable on account of discretion. Organizations ought to pick the arbitrator wisely. Frequently, arbitrators who are badly outfitted to manage the many-sided quality of the case are picked, bringing about tremendous defers settling debate. The mastery and ability of the authority to manage the particular issues which emerge must be weighed before appointing as arbitrator. It is always advisable to fix a lump sum arbitral fee, to ensure early disposal of cases, as the arbitral fee fixed on the basis of date of hearing often results in prolonging the process.

Why companies should implement an effective dispute resolution strategy to deal with conflict taking in the pros and cons of in-court versus out-of-court methods?

Resolving disputes through the court can delay recovery, end a business relationship, and lead to depreciation in respect to money claims. Court action also wastes the precious time, resources, and money of the company fighting the litigation. Out of court settlements result in faster dispute resolution, a continued business relationship, and quicker receipt payments in respect of money claims. Out of court settlement means a reduced expenditure of time, resources and money, which a business can better utilise elsewhere. Out of court settlements should be the preferred route. Litigation should be the last resort.

What are the circumstances in which Courts may interfere in arbitral proceedings?

The principle objective of the Act was to minimise court intervention. Owing to several rulings of the Apex Court, that objective has been lost. Indian courts must now take on an arbitrating role even in constituting the committee. If jurisdictional issues should arise such as whether a dispute is covered by the arbitration stipulation  until such issues are decided, the committee cannot be constituted. It is also difficult to have awards passed in a non-notified, non-convention country executed in India because such awards are not recognised by the Arbitration and Conciliation Act, 1996. In such cases the parties might have to file a suit before an Indian Court and based on such an award obtain a judgement from Indian Courts for enforcement, or such non-convention awards may be enforced as domestic awards, as per reasoning in [(2002) 4 SCC 105].

What clauses should Indian companies insert into their commercial contracts to manage potential disputes down the line?
As a broad statement, three areas must be addressed: first, choice of law/governing law; second, dispute resolution, including seat of arbitration if arbitration is agreed; and third, jurisdiction for enforcement purposes. While the natural preference for Indian companies is to apply Indian law as the governing law, it is not uncommon for Indian corporate to agree on English law as the governing law.

                                                                           ----Rimjhim Priyadarshini

                                                         
                                                                                    



HRD Officer Loses Life for Raising Voice against Corruption in Centre

New Delhi: It cost dearly for a senior officer to raise voice over many scandals and irregularities regarding contracts and constructions in the Central Government. The missing officer’s body was finally recovered on the Palam Vihar railway line on Thursday. Indian Civil Accounts Services officer,  Jitendra Jha was missing from Dwarka area of Delhi. The family feared the abduction. At this time he was posted in the Human Resources Ministry. He was also training in the Indian Institute of Public Administration. The family has alleged that in the ministries deployed in the Ministry of Information and Broadcasting and earlier, they opened a poll of several irregularities during the audit.

Many were Enemies-Wife
Police claimed to have recovered a suicide note from Jitendra Jha's body. The police are on the forefront of suicides as a case of suicide. However, the way the family is accusing, the case looks very faintly. It is also feared that the body was put to death on the railway line by killing the officer. Wife says that Jitendra was known for his honesty. He said that many people have become enemies due to vocal voices in corruption in their department, who tried to make pressure in different ways. So there can be a case of murder. The police said that every angle is being investigated.

Frequent Transfers for Raising Voice
Jitendra was earlier in the Ministry of Information and Broadcasting. There he talked about corruption in contracts and other things. During the audit, the clutches of scandal were opened and the senior officers went into a rage. On which he was transferred to the Human Resources Ministry. Wife says that due to honesty, Jitendra was being transferred every five to six months. He was utterly upset with the apathetic behaviour of the system and frequent transfers.

Suspicious Circumstances
From the Dwarka area of the capital, an officer of the Indian Civil Accounts Services of the Indian Government suddenly disappeared on Monday morning in suspicious circumstances. Officials of Jitendra Kumar Jha, who had left for a walk from his house on Monday morning, did not return home after that. During that time his mobile was also at home. He is posted in the HRD Ministry and was also training from the Indian Institute of Public Administration these days. He came out of the Society at around 9.30 in CCTV. But after that, where did he go, it was not known to anyone. At present, the police has sent his dead body to post-mortem.

DCP Dwarka Shibesh Singh said that a suicide note was found near the corpse. In the initial investigation, the police say that this case is being seen as suicide. But the police is conducting a thorough investigation of this case and suicide note. Police say that every angle of the case will be examined.

The deceased Jitendra Kumar Jha was the officer of Indian Civil News Services. He had suddenly disappeared at around 10 am on Monday morning. On that day, Jitendra went out of his house for a walk. At that time his mobile was also at home, but since then he did not return home. According to his wife, he came out of the house at around 9.30 in the morning on Monday. After a long time, when no one came to know about it, the missing information was lodged in the police station at night.

Demand for a CBI Probe

The family of the deceased has demanded a CBI inquiry of the alleged murder. Mr. Lalita Narayan Jha, the patriarch of Mithila Mirror has
lent his support to the demand of the family and vigorously campaigned in the social media for the deceased. The Hashtag "Justice of Jitendra is gaining ground and getting tremendous response from the online community. Mr. Lalit has been a front face in the previous cases also Nancy Jha and Pradumn Thakur murder case.

Mithila Mirror Raises Strong Voice for Jitendra Jha

Delhi: A senior Indian Civil Account s Services officer Mr. Jitendra Jha has been traceless since 11th December. A resident of Supaul district of Bihar, Mr. Jitendra is known as an officer of velour and courage.

Mr. Jha had gone to stroll from his Shivali Apartment located in Dwarka, New Delhi on Monday, but when he did not return to his house at the scheduled time, his family members got panic.  Mrs. Bhavna Jha, wife of the officer lodged an F.I.R in this regard with the Dwarka Police Station.
However, on Thursday, Police recovered a mutilated body at a place which is equidistant from both Palam Railway Station & Delhi Cantt. The Police claim that the body is that of Mr. Jha. A suicide note has also been recovered from the place.

The wife and other family members have though refused to claim the body saying it does not bear any semblance with the traceless officer. The body did not have any clothes and they have not received any suicide note.

A senior police officer, when contacted, has reasserted that it is a clear cut example of suicide as the suicide note unequivocally suggests. But, the officer also said that if the need arises, we will not hesitate to do a DNA test on the body to clear any ambiguity.
Image result for Jitendra jha IAS
The family members however repeatedly say that their Jitendra is not someone who can take his own life. He is known for his steely determination, courage and commitment for his job. The 40 year old Mr. Jha is employed with Human Resourced Development Ministry, Government of India. The family sources say that Mr. Jha has been transferred 6 times in the span of 4 years and that he also met with the Union Home Minister to make a complaint regarding his frequent transfers. Known for his dauntless attitude and dashing personality, Mr. Jha, is also a well- known RTI activist and always remains in the limelight.

Vigorous campaign has been launched on the social media for the Justice to Jitendra. Mr. Lalit Narayan Jha, the Editor of Mithila Mirror and Journalist has made an emotional appeal to the Maithil Community, Students’ Organizations and all those whose hearts have come out knowing about this incident. Importantly, before this incident, the patriarch of Mithila Mirror had also raised his Vociferous Voice in the cases like Nancy Jha Murder, Pradyumn Thakur murder and the likes.


                  ----Sobha Jha



The Short Term Skill based Courses that Fetch Better Salary and Perks

Nowadays new technology is developing every day. The knowledge of the latest technology helps a professional find a coveted post, position in the area he/she works in. So, if you are among those professional who want to upgrade their skill/knowledge and advance your career and job prospects, better salary, perks, etc. mastering the new technology is something you should not turn a Nelson’s eye on.

The short term skill based course is the best choice for increasing the ideas and skills of professionals. With the help of these courses, a lot of new things are learned so that you can get more information and get ready for big responsibilities in the workplace. Let's know about some similar courses:
Course selection
There is a need to be extremely careful while choosing a course to upgrade the skill. Choose a course that is linked to your academic qualification and field of study. Also select the course according to your professional experience so that you can later benefit in your career growth. Before choosing any course, please know that you will get new opportunities to do this course. When choosing a course, pay close attention to your interest, increase in salary and career growth.

Digital media and marketing have strengthened their hold on all sectors and industries. Digital marketing has become an important need for any brand to grow. There is no need to spend even more money in digital marketing. By doing a short term course on digital marketing, you will be able to handle the company's social media platform and website well. Many short term courses in digital marketing are present on many online learning platforms.

Main areas- Social media marketing, SEO writing and branding, affiliate marketing and email marketing.
Key Role - SEO Manager, Digital Marketing Manager and Web Analytics Executive.

Business Analysts work in fields like Finance, Planning, Marketing, Sales and Operation. This is an important need for every business. Business analytics has to use a variety of tools and techniques. The cost of business analytics courses is not very high. Any skill based program related to this increases the likelihood of an increase in salary.

Main areas- Logistic regression, data summary, clustering, market basket analysis, decision tree, liner regression and time series modeling.

Key roles - Business analytics plays a key role in the field of IT, e-commerce, banking and insurance, healthcare, HR, biotechnology and law.
Financial Modeling has emerged as a key role in the financial sector nowadays. By doing a course in Financial Modeling, you will be able to build strong models for the company in the field of valuation, operations, investment and finance.

Main area - Creating financial model for company and preparation of Financial Statement.
Key Role - In the commercial banks, giving loans to projects, managing existing projects and keeping track of its performance.

Java
Java is an object-oriented programming language that helps in creating real world applications. Java Professionals get High Salary. Java can be used from small to small gadgets to complex computers. Any short term course in Java programming can be great for your career.

Main area- Architecture, Java fundamentals and their importance
Key Role - Java Programmer, Java Webmaster, Java Web Developer
Big Data Professionals are among the high paid recipients. These help companies make better decisions and take good steps. Big data is created on the Java platform and is a software framework that helps in the collection and processing of Big Data.

Main area- Map Reduces, Junkeeper, HbS, HDFS, Hive, Pig and SQOP
Key Role - Hoodup Developer, Data Analyst, Data Architect, Big Data Engineer and Chief Data Officer. Virtual Reality Video Production

Due to cloud based storage and ultra-fast internet traffic is increasing on the video. In this way, virtual reality video production can get a good salary package when doing a short term course. If you want to make specialization in virtual reality, then you can search internet and find many. This course is taught by video lectures on the distribution of camera, scripting, shooting and content.

Main area - camera, scripting, shooting and content

Main Role - Virtual Reality Video Editor, Virtual Reality Video Assistant, Game Developer

U.G.C. N.E.T /JRF Management

U.G.C   Conducts N.E.T(National Eligibility Test)twice in a year.NET exam is a eligibility test for  ASSISTANT PROFESSOR and Junior Research Fellowship. The National Educational Testing Bureau of University Grants Commission (UGC) conducts National Eligibility Test (NET) to determine eligibility for lectureship and for award of Junior Research Fellowship (JRF) for Indian nationals in order to ensure minimum standards for the entrants in the teaching profession and research.

How to apply
Age:- no limit for maximum age for net exams
  28 years maximum for JRF
Educational Qualification:-
Post Graduation Degree or Management (including Business Administration . Mgt./Marketing/ Marketing Mgt./Industrial Relations and Personnel Mgt./ Personnel Mgt./Financial Mgt./Co-operative Management) with minimum 55% marks.
For Apply online:-go through main website www.ugc.ac.in
Fee:- -600/- for General
                                                300/ for O.B.C
                                    150/- for SC/ST/PwD


EXAMINATION PATTERN:-
PAPER I:-General paper (for all)-50 questions all are compulsory.
PAPER II:-Management -50 Questions all are compulsory.
PAPERIII:-Management-75 Questions all are compulsory.

Syllabus for paper I(common paper for all subject)
UNIT I
·        Teaching Aptitude
·        Research Aptitude
·        Communication
·        English/Hindi Comprehension
·        Reasoning(including mathematical)
·        Reasoning(Logical)
·        Data Interpretation
·        Information and Communication Technology
·        People and Enviornment
·        Higher Studies
Syllabus for paper II and III
UGC NET Management Paper II & Paper III ( A ) [ Core Group ] 
Unit – I 
  • Managerial Economics – Demand Analysis
  • Production Function
  • Cost – Output Relations
  • Market Structures
  • Pricing Theories
  • Advertising
  • Macro – Economics
  • National Income Concepts
  • Infrastructure – Management and Policy
  • Business Environment
  • Capital Budgeting
Unit – II
  • The concept and significance of organisational behaviour – Skills and Roles in an organisation – Classical, Neo – Classical and Modern Theories of Organisational Structure – Organisational Design – Understanding and Managing individual behaviour personality – Perception – Values – Attitudes – Learning – Motivation.
  • Understanding and Managing Group Behaviour, Processes – Inter – personal and group dynamics – Communication – Leadership – Managing change – Managing conflicts.
  • Organisational Development.
Unit – III
  • Concepts and perspectives in HRM; HRM in changing environment.
  • Human Resource Planning – Objectives, Process and Techniques.
  • Job analysis – Job Description.
  • Selecting Human Resources.
  • Induction, Training and Development.
  • Exit policy and Implications.
  • Performance Appraisal and Evaluation.
  • Potential Assessment.
  • Job Evaluation.
  • Wage Determination.
  • Industrial Relations and Trade Unions.
  • Dispute Resolution and Grievance Management.
  • Labour Welfare and Social Security Measures.
Unit – IV
  • Financial Management – Nature and Scope.
  • Valuation Concepts and Valuation of Securities.
  • Capital Budgeting Decisions – Risk Analysis.
  • Capital Structure and Cost of Capital.
  • Dividend Policy – Determinants.
  • Long – Term and Short – Term Financing Instruments.
  • Mergers and Acquisitions.
Unit – V
  • Marketing Environment and Environment Scanning; Marketing Information Systems and Marketing Research; Understanding Consumer and Industrial Markets; Demand Measurement and Forecasting; Market Segmentation – Targeting and Positioning; Product Decisions, Product mix, Product Life Cycle; New Product Development; Branding and Packaging; Pricing Methods and Strategies.
  • Promotion Decisions – Promotion mix; Advertising; Personal Selling; Channel Management; Vertical Marketing Systems; Evaluation and Control of Marketing Effort; Marketing of Services; Customer Relation Management;
  • Uses of Internet as a Marketing Medium – Other related issues like branding, market development, Advertising and retailing on the net.
  • New issues in Marketing.
Unit – VI
  • Role and Scope of Production Management; Facility Location; Layout Planning and Analysis; Production Planning and Control – Production Process Analysis; Demand Forecasting for Operations; Determinants of Product mix; Production Scheduling; Work measurement; Time and Motion Study; Statistical Quality Control.
  • Role and Scope of Operations Research; Linear Programming; Sensitivity Analysis; Duality; Transportation Model; Inventory Control; Queueing Theory; Decision Theory; Markov Analysis; PERT / CPM.
Unit – VII
  • Probability Theory; Probability distributions – Binomial, Poisson, Normal and Exponential; Correlation and Regression analysis; Sampling theory; Sampling distributions; Tests of Hypothesis; Large and small samples; t z, F, Chi – square tests.
  • Use of Computers in Managerial applications; Technology issues and Data processing in organizations; Information systems; MIS and Decision making; System analysis and design; Trends in Information Technology; Internet and Internet – based applications.
Unit – VIII
  • Concept of Corporate Strategy; Components of Strategy Formulation; Ansoffs Growth Vector; BCG Model; Porter’s Generic Strategies; Competitor Analysis; Strategic Dimensions and Group Mapping; Industry Analysis; Strategies in Industry Evolution, Fragmentation, Maturity, and decline.
  • Competitive strategy and Corporate Strategy; Transnationalization of World Economy; Managing Cultural Diversity; Global Entry Strategies; Globalisation of Financial System and Services; Managing International Business; Competitive Advantage of Nations; RTP and WTO.
Unit – IX
  • Concepts – Types, Characteristics; Motivation; Competencies and its development; Innovation and Entrepreneurship; Small business – Concepts Government policy for promotion of small and tiny enterprises; Process of Business Opportunity Identification;
  • Detailed business plan preparation; Managing small enterprises; Planning for growth; Sickness in Small Enterprises; Rehabilitation of Sick Enterprises; Intrapreneurship (Organisational Entrepreneurship).
Unit – X
  • Ethics and Management System; Ethical issues and Analysis in Management; Value based organisations; Personal framework for ethical choices;
  • Ethical pressure on individual in organisations; Gender issues; Ecological consciousness; Environmental ethics; Social responsibilities of business; Corporate governance and ethics.
UGC NET Management Paper III ( B )
[ Elective / Optional ]
Elective – I
  • Human Resource Management ( HRM ) – Significance; Objectives; Functions; A diagnostic model; External and Internal environment;
  • Forces and Influences; Organizing HRM function.
  • Recruitment and Selection – Sources of recruits; Recruiting methods; Selection procedure; Selection tests; Placement and Follow-up.
  • Performance Appraisal System – Importance and Objectives; Techniques of appraisal system; New trends in appraisal system.
  • Development of Personnel – Objectives; Determining Needs; Methods of Training & Development programs; Evaluation.
  • Career Planning and Development – Concept of career; Career planning and development methods.
  • Compensation and Benefits – Job evaluation techniques; Wage and salary administration; Fringe Benefits; Human resource records and audit.
  • Employee Discipline – importance; causes and forms; Disciplinary action; Domestic enquiry.
  • Grievance Management – Importance; Process and Practices; Employee Welfare and Social Security Measures.
  • Industrial Relations – Importance; Industrial conflicts; Causes; Dispute settlement machinery.
  • Trade Unions – Importance of Unionism; Union leadership; National Trade Union Movement.
  • Collective Bargaining – Concept; Process; Pre-requisites; New trends in collective bargaining.
  • Industrial Democracy and Employee Participation – Need for industrial democracy; Pre – requisites for industrial democracy; Employee Participation – Objectives; Forms of Employee Participation.
  • Future of Human Resource Management.
Elective – II
  • Marketing – Concept; Nature and Scope; Marketing myopia; Marketing mix; Different environments and their influences on marketing; Understanding the customer and competition.
  • Role and Relevance of Segmentation and Positioning; Static and Dynamic understanding of BCG Matrix and Product Life Cycle; Brands – Meaning and Role; Brand building strategies; Share increasing strategies.
  • Pricing objectives; Pricing concepts; Pricing methods.
  • Product – Basic and Augmented stages in New Product Developments
  • Test Marketing Concepts.
  • Promotion mix – Role and Relevance of advertising Sales promotion – media planning and management.
  • Advertising – Planning, execution and evaluation.
  • Different tools used in sales promotion and their specific advantages and limitations.
  • Public Relations – Concept and Relevance.
  • Distribution channel hierarchy; Role of each member in the channel; Analysis of business potential and evaluation of performance of the channel members.
  • Wholesaling and Retailing – Different types and the strengths of each one; Emerging issues in different kinds of retailing in India.
  • Marketing Research – Sources of Information; Data Collection; Basic Tools used in Data Analysis; Structuring a Research Report.
  • Marketing to Organisations – Segmentation Models; Buyer behaviour models; Organisational, buying process.
  • Consumer Behaviour theories and models and their specific relevance to marketing managers.
  • Sales Function – Role of technology in automation of sales function Customer relationship management including the concept of ‘Relationship Marketing’.
  • Use of internet as a medium of marketing; Managerial issues in reaching consumers / organisation through internet.
  • Structuring and managing marketing organisations.
  • Export Marketing – Indian and global context.

Elective – III
  • Nature and Scope of Financial Management.
  • Valuation Concepts – Risk and Return; Valuation of Securities; Pricing Theories – Capital asset pricing model and Arbitrage pricing theory – Understanding financial statements and analysis thereof.
  • Capital budgeting decisions; Risk analysis in capital budgeting and Long – Term sources of finance.
  • Capital Structure – Theories and Factors; Cost of capital.
  • Dividend Policies – Theories and Determinants.
  • Working Capital Management – Determinants and Financing; Cash management; Inventory management; Receivables management.
  • Elements of Derivatives.
  • Corporate risk management.
  • Mergers and Acquitions.
  • International Financial Management.
Elective – IV
  • India’s Foreign Trade and Policy; Export promotion policies; Trade agreements with other countries; Policy and performance of Export zones and Export – oriented units; Export incentives.
  • International marketing logistics; International logistical structures; Export Documentation framework; Organization of shipping services; Chartering practices; Marine cargo insurance.
  • International financial environment; Foreign exchange markets; Deterrnination of exchange rates; Exchange risk measurement; International investment; International capital markets; International Credit Rating Agencies and Implications of their ratings.
  • WTO and Multilateral trade agreements pertaining to trade in goods; trade in services and TRIPS; Multilateral Environmental Agreements (MEAs); International Trade Blocks – NAFTA, ASEAN, SAARC, EU, WTO and Dispute Settlement Mechanism.
  • Technology monitoring; Emerging Opportunities for Global Business.
                                                                     ---Sushmita JhaSusht