Eeramindz

18/09/2023

KNOWLEDGE RESOURCE “ Resolving Business Disputes” !!
WHAT IS A DEED OF SETTLEMENT?
It is a formal document that has terms If parties in dispute reach to an agreement after mutual settlement. The document is called a deed of settlement or deed of settlement and release.
The deed will set out the obligations each party has to perform in the agreement, such as:
> payment of money; or
> return of goods.
The deed is also binding on the parties, which means that if they ‘default’ or fail to perform their obligations, the other party can take legal action against them. A deed will also usually include ‘releases’ that mean each party agrees they will not take any legal action against the other party in relation to the dispute.
KEY TERMS IN DEED OF SETTLEMENT
A deed of settlement should include the following essential terms:
i) date - when the settlement deed is signed by all parties, clearly date the deed;
ii) parties - include the correct legal entities, whether individual, company or other association;
iii) key obligations - clearly spell out what each party has to do to comply with the deed;
iv ) default terms - set out what happens if one party defaults on their obligations; and
V ) mutual releases - here, both parties release each other from any other legal claims relating to the dispute.

We focus to build an ecosystem for your business to continually identify relevant Legal Exposure/ Risks pertaining to the Technology, E-Commerce, Contract & Outsourcing that can impact your business and reputation, while providing appropriate strategy to Build, Scale-up, Transform and Protect your b...

18/09/2023

Cyber Regulatory Updates !!

"Cybersecurity Risk Assessment Draft Rule making -California Privacy Protection Agency (CCPA)"

In Board meeting on September 8th, the California Privacy Protection Agency (CPPA) issued draft regulations on Risk Assessments issuing regulations requiring businesses whose processing of consumers’ personal information presents significant risk to consumers’ privacy or security, to submit to the California Privacy Protection Agency on a regular basis a risk assessment with respect to their processing of personal information and business entities includes service providers and vendors.

We focus to build an ecosystem for your business to continually identify relevant Legal Exposure/ Risks pertaining to the Technology, E-Commerce, Contract & Outsourcing that can impact your business and reputation, while providing appropriate strategy to Build, Scale-up, Transform and Protect your b...

17/09/2023

Updates !
"The Mediation Act, 2023" New Era of Dispute Resolution in India.
The Mediation Act, 2023 has received presidential assent 14th September, 2023, which will lead to new era of dispute resolution in the India.
Objective of this Act is to promote and facilitate mediation, especially institutional mediation, for the resolution of disputes which are commercial, cyber or otherwise with some exclusions based on the nature of disputes which are not fit for mediation such as in relation to allegations of serious and specific fraud, fabrication of documents, forgery, impersonation, coercion, prosecution for criminal offences, conflict with Public Policy etc.
Act requires persons to try to settle civil or commercial disputes through mediation before approaching any court or tribunal. A party may withdraw from mediation after two mediation sessions. It will make online mediation as acceptable method for matters connected therewith or incidental thereto.
Act provides provisions for setting up of The Mediation Council of India. Its functions will include registering mediators, and recognising mediation service providers and mediation institutes.

01/01/2022

Eeramindz wishes you all a very Happy and Healthy New Year.

03/12/2021

02/12/2021

‘Consumer Protection for Online Transactions - Indian Perspective’

Consumer is any person who buys goods or avails any service or goods for a consideration for the purpose of resale or commercial use which includes all online transactions conducted through electronic means or by the use of technology.

"Consumer Rights"-
Consumers have main rights as follows:
1. To be protected against goods, products or services which are hazardous to life and property;
2. To be informed to protect against unfair trade practices;
3. To be assured for goods, products or services at competitive prices;
4. To be heard and receive due consideration at appropriate fora;
5. To seek redressal against unfair trade practice or unscrupulous exploitation of consumers; and
6. To be seek the product or services awareness;

"E-commerce Seller Duties"
1. To display basic information of entity on the platform;
2. To establish proper consumer grievance redressal mechanisms and publish the same on the platform;
3. To apply best efforts to participate in the National Consumer Helpline
4. To mention the name and details of the importer for imported goods or services;
5. To ensure to record consumer consent for the purchase of goods or services on its platform is expressed through an explicit and affirmative action, and not in an automatic manner;
6. No e-commerce entity shall impose cancellation charges in case of cancellation of purchase order unilaterally for any reason.
7. Shall effect all refunds according to RBI prescriptions and within a reasonable period.\
8. To refrain from adopting unfair trade practices, manipulating the price of goods/services offered on their platform with an aim to gain unreasonable profit, discriminating between consumers of the same class or making arbitrary classifications.

"E-Complaints"
A complainant can bring the complaint regarding unfair trade practice, violation of consumer rights or misleading and false advertisements in electronic mode to appropriate authorities.

The content of this article is intended to provide a general information and for awareness of subject matter, and not to be construed for legal purposes or as legal advise to subject matter.

08/11/2021

"Validity of E-Contracts In India "

An E-Contract also known any contract formed in electronic manner, like any other physical contract, is primarily governed by the provisions of the Indian Contract Act, 1872 . E-Contract validity depends on all the essentials of a valid contract like physical contract which are as under including (i) Offer and Acceptance; (ii) Lawful consideration; (iii) Lawful object; (iv) Free Consent; (v) Competency of parties to contract; (vi) Intention to create legal relations; (vii) Not declared to be void.

Information Technology Act 2000 provides provisions such as Section 4-pertaining to the Legal recognition of electronic records and Section 10A - pertaining to the validity of contracts formed through electronic means.
Whereas there are certain exceptions with respect to the documents as mentioned in The First Schedule of the IT Act which excludes them from being executed in an electronic format as per the provisions of IT Act, such documents or transactions are referred below:-
(i) Negotiable instruments (other than a cheque);
(ii) Power of attorney;
(iii) Trust deeds;
(iv) Wills (including any other testamentary disposition by whatever name); and
(v) Any Contracts for the sale or conveyance of immovable property or any interest in such property.

“The content is intended to provide a general information to the subject matter. Specialist advice should be sought about the specific circumstances.”

07/11/2021

What is Data Theft in Indian context?
Data theft is form of Cyber crime which pertains to obtain someone information such as personal identity, financial information etc. in an illegal manner and to use such information for one’s own benefit.

Data theft is committed through various traditional criminal techniques such as :-

Hacking: Intrusion to computer or computer resources by mean of unauthorised access.

Phishing: Using unsolicited messages to deceive people for the disclosure of their financial and/or identity information.

Identity Theft: Impersonating or presenting oneself as another in order to gain access to the information in wrongful manner to commit offence such as fraud or cheating.

Internet Extortion: Hacking into and controlling the business critical systems or databases in unauthorised manner and releasing the control back to the owner based on the demand satisfaction of attacker.

Information Technology Act, 2000 is the main legislation in India governing provisions pertaining to data theft, introducing & spreading viruses, destroying, deleting, disrupting or damaging computers or computer networks or computer programmes or information residing in the computer, and in furtherance providing any sort of assistance for the contravention of provisions of this act. The offender shall be liable to pay damages by the way of compensation to the person affected or imprisonment or even both.

“The content of this article is only intended to provide general information to the subject matter. Specialist advice should be sought based on the specific circumstances.”

04/11/2021

On this Auspicious Festival of Lights, we wish that May the divine light of Diwali spread into your life Peace, Prosperity, Happiness and Good Health.

29/10/2021

What are laws that entail Cyber security in India?

There are various laws pertaining to Cybersecurity in India such as Information Technology ACT 2000 which provides a legal framework for electronic governance, recognition to electronic records and digital signatures. It also defines various cyber crimes and prescribes penalties for them and appropriate means to seek the remedies or relief accordingly. It also mandates body corporate to implement reasonable security measures to protect sensitive personal data or information.

Companies Rules 2014 under the Companies Act 2013, makes it mandatory for all companies to ensure that all digital records and security systems are tight and sealed to avoid tampering and illegal access.

The Indian Penal Code Act 1860 punishes any crime committed in cyberspace (such as cheating, harassment, hacking, breach of privacy, etc). There are Sector-specific regulations which are also been established to protect the data or information. Strict cybersecurity rules have been followed for most of the regulated sectors such as Banking, Insurance and Telecom.

“The content is only intended to provide a general information related to the subject matter. Specialist advice should be sought about your specific circumstances.”

24/10/2021

What is Cybersquatting?

Cybersquatting is the practice of registering an Internet domain name (a unique name of an organisation or person on the Internet) that is likely to be wanted or registered by another person, business, or organisation with motive to gain the profit by reselling it. Cybersquatters register the different trade-marks, trade names, business names and Internet domain names belonging to some other person, business or organisation with the motive of trading or reselling on the reputation and goodwill of such other party to either perplex their customers or potential customers to gain the wronful profit.

“Cybersquatting Laws in India”

In India, there is no explicit legislation for resolution of disputes pertaining to Domain Name Protection or cyber squatting, so the cases are mostly decided as per the provisions of Trade Marks Act, 1999.

The content is intended to provide a general information to the subject matter. Specialist advice should be sought about your specific circumstances.
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24/10/2021

"Memorandum of Understanding (MOU) as a Conclusive Agreement & Enforceability"
Memorandum of Understanding (MOU) as implied by its name, is a document which reflects the mutual understanding between the parties and is generally used to record their basic terms of a commercial transaction. MOU by its primary nature and usage is usually non-binding, but the enforceability of Memorandum of Understanding (MOU) is based on elements of valid contract such as:-
1. Offer and acceptance
2. Intention to create legal relations
3. Lawful Consideration
4. Lawful Object
5. Legal capacity
6. Free Consent
7. Not declared to be void

The content is intended to provide a general information to the subject matter. Specialist advice should be sought about your specific circumstances.

Protecting Business interests with focus to enhance its effectiveness and minimising liabilities, with commercially astute legal advice.