Mindlessly_Legal

Non-banking financial companies are scripting tale of success for many businesses in entrepreneur spirit of India, they have been providing the complementary services to the economy and competing with banks to reduce the gap in the supply of funds. Introduction: A Non-Banking Financial Company (NBFC) caters to the needs of society by engaging in the business of loans and advances, acquisition of shares, stock, bonds, hire-purchase insurance business or chit-fund business. It channelizes the funds to the business left out by the banking system. NBFC plays a primary role in the development of MSME, Infrastructure development and keeping the entrepreneurial spirit alive by Providing loans: car, personal, education, home, micro-finance, and capital to start small business. They are regulated and governed by the rules and regulations of RBI, registered under the provision of the Companies Act 1956. SEBI and IRDAI are two different supervising authorities in India. Need for Regulation...

Purpose of Meetings: Meetings in a company provide a platform for directors and shareholders to discuss and develop strategies for growth and development. These meetings serve essential functions, including controlling company affairs, preparing future policies, scrutinizing current policies, and more. Statutory Meeting: The first meeting of the company, held once during its lifetime, is known as the Statutory Meeting. Not all companies are eligible to hold such meetings, as only companies limited by shares or guarantee with share capital are permitted to do so. Private companies, regardless of their ownership structure, public companies without share capital, unlimited companies, and government companies are not eligible. The Statutory Meeting must be held after one month but not later than six months from the receipt of the certificate of commencement of business. Notice of the meeting must be given to directors and shareholders at least 21 days prior to the meeting. The purpose ...

Data security and data privacy are often used interchangeably, but they represent distinct aspects of safeguarding sensitive information. Let's delve into their differences and significance. Understanding Data Security: Data security encompasses safeguarding data from unauthorized access, disclosure, alteration, destruction, or tampering. Its goal is to establish a robust framework to protect data from various threats like viruses, breaches, hacking, and cyberattacks. Key components of data security include encryption, access controls, authentication mechanisms, and security policies. The primary aim is to prevent unauthorized access to sensitive data. Understanding Data Privacy: Data privacy, on the other hand, revolves around protecting individuals' private information. It ensures individuals have control over how their personal data is collected and used. Data collection typically requires individual consent. Data privacy laws, such as the Privacy Act of 1974 and GDPR, regul...

Crime, inherently antisocial and immoral, is defined by actions forbidden by law. Yet, humanity's relentless pursuit of technological advancement has ushered in an era of unprecedented progress. Among the most notable innovations is the internet, which paved the way to a dynamic and nonterritorial space we call cyberspace. Cyberspace is a realm of growth and opportunity; it gives us the freedom to explore the world in unorthodox ways. However, along with its perks, cyberspace has become a forum for sinful acts—cybercrimes. In this blog, we will investigate three different cybercrimes committed at international levels and their gravity and potential to cause harm to governments and individuals. Cyberspace is becoming a battlefield where not only states but also small groups with computer systems are planning warfare. Cybercrime at the International Level: 1.Cyber Terrorism: As the name itself suggests, it is an act of terrorism, solely performed for political gain without remorse ov...

Does the Indian legal system provide enough protection to healthcare providers? Does it offer supportive measures for doctors who find themselves facing false negligence claims? In this blog, we will dissect the law and legal framework related to medical negligence in India. Doctors are human, and humans are bound to make mistakes. Furthermore, desired results depend on various factors such as physical fitness, lifestyle, pre and post-care. The most important question here is: what mistakes become negligence? To answer this question, we must first understand what negligence is. In layman's terms, negligence can be referred to as a lack of attention or care that leads to harm or damage to someone else. Simply put, being careless is being negligent. In legal terms, negligence is failing to take reasonable care or acting imprudently. It is a breach of a legal duty to take care, resulting in damage undesired by the defendant to the plaintiff. To prove negligence, it is essential that a...

If you are a law student or a newbie in the legal field, then it is very common to scratch your head around these concepts. In this blog, we will deal with the understanding of not only the concept of PHI and PII, but we will also dive into Indian laws to investigate similar concepts in the Indian legal landscape. PHI (Personal Health Information) is data associated with information about an individual's health. There is a list of 18 pieces of information that fall under the category of Personal Health Information. This data is often collected by medical practitioners or hospitals for providing better health services. HIPAA, the Health Insurance Portability and Accountability Act, protects the PHI of an individual from being disclosed without his/her consent. Personal data of an individual's health status can cause damage in insurability, employability, and can engrave damage to their privacy. It is obvious to be curious about what elements can be considered as PHI. This includ...