Economic Laws

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Economic Laws

India has enacted a robust set of economic and commercial laws that enable domestic and multinational companies to smoothly operate their business in the country. Some of the key mercantile laws in India include :

  • Indian Contract Act, 1872 - This is the Indian law that encapsulates provisions governing the entire life of a contract from its formation to its implementation and conclusion.
  • The Companies Act, 2013 – This is the main legislation that provides for the laws relating to functioning of corporates in India.
  • The Competition Act, 2002 - The Competition Act provides for the establishment of the Competition Commission of India (CCI) and Competition Appellate Tribunals to hear and settle appeals against the orders of the CCI and also to adjudicate on the claims of compensation that may arise from the findings of the CCI or the orders of the Appellate Tribunal.
  • Securities & Exchange Board of India Act, 1992 - The Securities & Exchange Board of India Act (commonly known as the SEBI Act) is an Act of Parliament, enacted for the regulation and development of the Indian securities market. The Act has been regularly amended to meet the changing requirements of the securities market in India.
  • Information Technology Act, 2000 - The Information Technology Act, 2000 is an Act of the Indian Parliament, notified on 17 October 2000. It is the primary law in India dealing with cybercrime and electronic commerce, and is based on the United Nations Model Law on Electronic Commerce 1996 (UNCITRAL Model) recommended by the General Assembly of United Nations by a resolution dated 30 January 1997.
  • Negotiable Instruments Act, 1881 - The law related to promissory notes, bills of exchange, cheques and other negotiable instruments is codified in India under the Negotiable Instruments Act, 1881.
  • Other laws in India
    • Indian Copyright Act, 1957
    • The Trade Marks Act, 1999
    • Indian Patents Act, 1990
    • Industrial Disputes Act, 1947
    • Trade Unions Act, 1926
    • Factories Act, 1948
    • Employees Provident Fund & Miscellaneous Provisions Act, 1952

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