Contract Forensic Expert

Forensic Expert is a person who is an expert in applying scientific, technical or medical knowledge to the purposes of law. A Contract Forensic Expert is an independent, experienced forensic expert who is engaged independently by a party or by an Organization (including the Govt.) for forensic analysis. Under the law, he is an expert witness who testifies or gives forensic related opinions at a dispute resolution trial or hearing by virtue of his/her specialized knowledge.

Services Offered

Generally, forensic analysis is carried out by Govt Labs employing forensic scientists and examiners who examine samples and cases on which the Police or other Govt bodies seek opinion. An expert opinion is distinct from a lay man’s opinion because of the scientific, technical, specialized training, or experience that an expert possesses. However, there also exist private, non-Government forensic examiners who provide services to individuals on matters requiring forensic opinion. Such a person/ organization undertakes a contractual agreement with a party seeking the opinion, and renders services on a wide range such as Questioned Document & Handwriting Analysis, Signature Frauds and Forgery, Fingerprints Lifting and Verification, Forged Documents Examination, Paper/Document Age Analysis, Will, Deed, Medico Legal Consultation, etc.

The Consultancy services range from:

Ø  Questioned Document & Handwriting Analysis

Ø  Signature Frauds and Forgery

Ø  Property Document and Paper Examination & Verifications

Ø  Cyber Forensics

Ø  Cyber Crimes

Ø  Expert Testimony

Ø  Expert Consultation

Ø  Forensic Science Standardization

Ø  Forensics Certification

Statutory Provisions Concerned (Indian Kanoon)

Ø  S. 45, Indian Evidence Act

Ø  S. 10, Indian Contract Act

Landmark Judgments

Ø  Arshad v. State of A.P. 1996 CrLJ 2893

Ø  S.Gopal Reddy v. State of A.P. AIR 1996 SC 2184

Ø  Mani Ram v. State of U.P. 1994 Supp (2) SCC 289

Ø  Piara Singh v. State of Punjab AIR 1977 SC 2274

Do (s) and Don’t (s) to keep in mind:

·         Ensure the quality of the firm you are engaging, with respect to registration with Govt of India, Certifications, etc.

·         Make sure that the firm employs qualified and certified personnel only.

·         Before furnishing personal information, ensure that your confidentiality will be maintained.

·         Do not provide any sensitive information to any random pop-ups or unknown websites.

·         Talk to your lawyer to ensure the legal validity of the matter consulted on, if you intend it for legal purposes.

·         Always do extensive research before giving them relevant or personal information.

PROCEDURE OF ISSUE OF SHARES

The Companies Act 2013 define shares, ‘a share in the share capital of a company and includes stock’. Shares is a type of security and in layman’s definition it “one of the equal parts into which a company's capital is divided, entitling the holder to a proportion of the profits” The Companies Act gives a set procedure for issuing of shares under the act.  There are four ways in which shares can be issued :

1. Public Issue

2. Private Placement

3. Rights Issue

4. Bonus Issue

PROCEDURE FOR ISSUING OF SHARES:

A Public company can issue shares by way of public issue, rights issue or bonus issue and private placement. For public issuing of shares, the following steps are required to be fulfilled:

1.   The company must be a registered company with the registrar.

2.   Prospectus bearing the invitation for buying of shares of the company to the public.

3.   The prospectus must be submitted to the registrar (SEBI) before publishing.

4.   The prospectus should have the required information about the company like:

❖    Name of the Directors

❖    Terms of issue

❖    Minimum subscription

❖    Type of investment

❖    Previous years performance

❖    Opening and closing dates

❖    Application form and requisite fees

❖    Allotment

❖    Call-on dates

❖    Bank details for deposit.

5.   The Registrar after confirming amenability publishes the prospectus

6.   After selecting the applicants for allotment of shares, a regret letter is sent to everyone else and share certificate is issued after the share allotment is done.

7.   The remaining shares are then allocated on call on dates. Depending on the number of shares, the calls are made for the remaining shares.

STATUTORY LAW REFERENCE (INDIAN KANOON):

▪     Section 2(84), Section 23, Section 26, Section 42 and Section 60(1) of Companies Act

2013.

▪     Companies (Prospectus and Allotment of Securities) Rules, 2014.

▪     Securities and Exchange Board of India Act, 1992.

LANDMARK JUDGEMENTS:

▪     I.T Cube India (P) Ltd vs. I.T Cube Inc (2006) 69 SCL 319 (kar)

▪     Khoday Distilleries v. CIT, Civil Appeal 6654/2008

▪     Vodafone India Services Private Limited v. UOI (WP No.871 of 2014, Bombay HC

IMPORTANT DO (S) AND DON’T (S):

▪     Always deal with the market intermediaries registered with SEBI / stock exchanges.

▪     Collect photocopies of all documents executed for registration as a client, immediately

on its execution. Ensure that the documents or forms for registration are fully filled in.

▪     Always mention all the details clearly in the prospectus and certificate

▪     Mention clearly what is the mode of issue of shares.

▪     That the requisite procedure mentioned in the act is followed.

Maternity Benefit - Policies for private and Public Enterprises

While working in a public or private enterprise, when a woman is going through her pregnancy, the paid leaves that are allocated to her are known as maternity benefits. The paid leaves are given in accordance to the average daily wage for her actual absence for the period which spans across her delivery, i.e., the time before her delivery, delivery date and after delivery. It is regulated under the Maternity Benefits Act, 1961 and the Employees’ State Insurance Act, 1948.

To incorporate certain new changes, the central government introduced the Maternity Benefits (Amendment) Bill, 2016 before the Rajya Sabha and was passed by both the Houses of Parliament and the Cabinet.

Important Things to Remember

·         It applies to plantations, factories, mines;

·         The paid leaves have been changed to 26 weeks for both public and private enterprises which employ more than 10 people;

·         The 26 weeks rule is for two surviving children;

·         For the third child, it would be 12 weeks;

·         Companies and establishments which employ more than 50 people will have to provide for crèches for children (women will be allowed 4 visits/day to the crèches);

·         Maternity leave of 12 weeks for women who adopt children below the age of three years;

·         A woman may be allowed to work from home if her nature of work is of such a nature;

·         A women to claim maternity benefit should have worked atleast 80 days in the last 12 months preceding the date of her expected delivery;

·         In case of woman’s death, the employer is still liable to pay her full maternity leave;

·         Women working in the unorganized sector are not covered under this Act;

·         It is the liability of the employer to finance all the maternity leaves.

Other Maternity Benefit Provisions

Ø  Under All India Services (Leave) Rules, the maternity benefit is of 24 weeks for all mothers including adopting mothers (for less than two surviving children);

Ø  Under Central Civil Services (Leave) Rules, the maternity benefit is of 180 days (for less than two surviving children) and for adopting mothers it is of 60 days.

Statutory Law References (Indian Kanoon)

Maternity Benefits Act, 1961

Employees’ State Insurance Act, 1948

All India Services (Leave) Rules, 1955

Central Civil Services (Leave) Rules, 1972

Landmark Judgments

Mrs. Neera Mathur v. Life Insurance Corporation of India 1992 AIR 392

Ram Bahadur Thakur (P) Ltd. v Chief Inspector of Plantations 1982 (2) LLJ 20

Shamima Farooqui v. Shahid Khan Criminal Appeal Nos. 564-565 Of 2015

Public Provident Fund

Public Provident Fund (PPF) is the scheme of the central government formulated under the Public Provident Fund Act, 1968. It is a long-term small savings scheme which facilitates people to attain a security for retirement while saving tax by investing in the scheme. Interests are provided on such deposits.

Important Things to Remember

·         Only Indian residents can have a PPF account;

·         If an Indian resident becomes a NRI during his already activated PPF account, he may be allowed to continue it till its maturation;

·         The maturation period for a PPF account is 15 years while it can be extended again and again by a period of 5 years each time at the choice of the account holder;

·         Banks and post offices can open a PPF account;

·         A person can have only one PPF account in his name at a time;

·         Minimum yearly deposit is set at Rs 500 to open and maintain such account;

·         The maximum limit of yearly deposit (in a financial year) is Rs 1,50,000;

·         Deposits can be on a monthly basis or one time or in instalments;

·         The deposits are tax deductible under Sec. 80C of Income Tax Act;

·         The current rate of interest payable on PPF account is 7.9%.

Withdrawal Policy for PPF accounts

Ø  The entire money in the PPF account can be withdrawn on its maturity (the interest received is tax free);

Ø  One withdrawal per year is allowed after the completion of 5 full financial years;

Ø  The amount of withdrawal is limited to 50% of the total credit at the end of 4 years or the preceding financial year to the year in which the amount is to be withdrawn (whichever is minimum). The withdrawal amount is not repayable;

Ø  The limit of withdrawal in case the PPF account is more than 15 years old, is 60% of the amount at the end of the 15 years. The person has to apply through Form C;

Ø  Premature closure of PPF accounts may be allowed in case of serious ailments of the account holder or his spouse/parents or children and higher education of the account holder (the account holder has to forego 1% interest).

Loan from PPF account

ü  The customer can avail the loan facility from the third financial year to sixth financial year in respect to the PPF account concerned;

ü  He has to apply in Form D;

ü  The maximum amount of loan that can be availed is 25% of the credit at the end of the preceding financial year;

ü  The load has to be repaid within 36 months and also the interest at 2% of the principal amount.

Statutory Law References (Indian Kanoon)

Income Tax Act, 1961

Public Provident Fund Scheme, 1968

Public Provident Fund Act, 1968