LEXIS AND COMPANY

 What Does the Succession Law Say? We have been through a tough time of COVID Lockdown recently and now in a new year of 2023, perception prevails that life is uncertain and planning succession of property should be a critical aspect of our overall planning.  We will end up with a number of different properties during the course of our life. When combined together, all of these different pieces of property make up our estate. When we pass away, the people who will inherit our estate must found appropriately planned succession documents. If not, it will be left in what is known as a "ownerless" estate. As a consequence of this, when we pass away, the people who come after us will become the legal proprietors of our estate. Inheritance or succession are common names that people use to refer to this process. When we are no longer here, those who will inherit our property and possessions are known as our successors. The entire process is governed by a body of law known as success

 Know About Property Rights of Daughters in India Unfortunately, in some parts of India, girls did not always enjoy the same legal protections as their fathers when it came to inheritance. When compared to men, women have never been given equal treatment when it comes to inheritance rights or the ability to hold Property in their own right. Both women and men faced significant limitations on their ability to inherit and own property. The entire corpus of the Law of Inheritance has been modernized by new laws and amendments. The property is now owned equally by the daughters. Daughter's Right in Property Today, your gender as a woman is of little consequence for your property rights. Hence, the property rights of daughters are almost entirely the same as the property rights of sons.  A daughter can acquire, hold, and dispose of, Property at par with any other man. Today, there are practically no restrictions on a woman's capacity to acquire, hold, and dispose of, her Property. D

 Gift deed in India: An Overview A gift deed is a legal document that transfers the ownership of a property or asset from one person to another without any exchange of money. It is an instrument of transfer of property that is commonly used in India to gift property to family members or close relatives. In this blog, we will discuss the validity and structure of a gift deed in India. Validity of a gift deed To be legally valid, a gift deed must fulfill certain legal requirements. These requirements are outlined in the Transfer of Property Act, 1882 and the Indian Registration Act, 1908. The key requirements for a gift deed to be valid are: Competency of parties The donor and the donee must be competent to enter into a gift deed. This means that they must be of sound mind, not minors, and should have the legal capacity to transfer and receive property. Free consent The gift must be made by the donor out of his or her free consent. This means that the donor should not be under any undue

How to draft your Will and when? Introduction: Creating a will is essential to guarantee that your possessions are distributed in accordance with your preferences following your death. A will enables you to select your beneficiaries, appoint an executor, and make specific bequests, such as personal property, etc. In addition, a will can reduce disagreement among your loved ones and guarantee that your estate is administered in a timely and effective manner. Taking the time to write a will is a simple but necessary step in protecting the interests of your loved ones and ensuring that your desires are carried out after your death.   When should you have your WILL drafted? Everyone should make a will at some point in their lives, no matter how old they are or how much money they have. Many people think that wills are only important for older people or people with a lot of money, but the truth is that everyone can benefit from having one. It's never too early to start thinking about yo

 Court's discretion while deciding bail plea cannot be taken away by any law: Bombay High Court The Court made the observation while rejecting a 71-year-old man's bail plea, which was moved on the basis of a NALSA scheme that favoured the release of undertrial prisoners over 65 years of age. The discretion of the Court while deciding bail applications cannot be taken away by any law, the Bombay High Court held recently while interpreting a scheme framed by the National Legal Services Authority (NALSA) for the release of undertrials based on their age [Mahipati Antu Jadhav v. State of Maharashtra]. Justice SM Modak explained that the process of obtaining bail from the court consists of two elements - the submission of a bail application and the court's decision on whether to grant or deny bail. He further noted that such discretionary powers of the court to grant or reject bail cannot be taken away by a statute. "There are two aspects. One is moving the concerned Court

 WHAT TO DO IF THE POLICE REFUSE TO REGISTER AN FIR? SIMPLY put, FIR is the first-in-time information pertaining to an offence which has to be recorded by the Police Station In-charge. Based on the nature of information, an FIR is required to be registered either under Section 154 or Section 155 of the Criminal Procedure Code (CrPC). The information so received, if it constitutes an offence which is recognized as cognizable in nature, has to be registered in the form prescribed by the National Crime Records Bureau (NCRB), whereas if the information received does not constitute cognizable offence, it is then registered in a separate register, to be maintained by the in-charge of the concerned police station. It is necessary to note that so long as the information discloses an offence, the Station in-charge is duty bound to record it in the manner stated by the informant and provide a copy of it then and there itself to the informant. They cannot legally refuse or delay recording the inf

 What is the Company? A company is a legal entity established by a group of individuals to employ in and regulate a business firm. A company may be coordinated in different ways for financial liability and tax purposes, relying upon the corporate law of its administration. The line of a business concern in an enterprise is in, will normally ascertain which business substructure it picks, for instance, a partnership, a corporation or a proprietorship. In such a case, a company may be contemplated as a business kind. Hence, companies can be classified either on the basis of liability of its core members or on the ground of the total number of members. On the basis of liability of its members, the companies can be categorised into 2 categories : Companies Limited by Shares: In this scenario, the liability of its members is restricted to the level of the nominal value of shares occupied by them. If a shareholder has paid the complete amount of the shares, there is no liability on his side,