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Meaning of Disablement The term disability has not been specified under the Act, but the term disability is the condition of being disabled or the experience of being disabled in a general sense. For your own tasks, it is the state that depends on the other person. The word disability can be referred to as an impairment of human functioning, which can be physical impairment, sensory impairment, chronic disorder, or some other type of mental illness. There can be effects on areas of the body or on the behavior of the involvement of individuals in life.   The disability  may be in several kinds and the health status of the worker determines the type of disability. Partial Disability or Complete Disability may be one. Both words have been specified by the Act. The disability can be defined as the act of losing the salary-earning capacity by reading and understanding all the words, and it can be bifurcated as complete or partial disability depending on the type or percentage of injury.   A

Set-Off:   Set Off is dealt with in accordance with Rule 6 of Order 8 of the Code of Civil Procedure, 1908. It's a defense mechanism for the sum of money owed. It's the form of a cross, a suit. Legally, it is defined as the reciprocal acquirement of the debts between the parties, i.e. between the plaintiff and the defendant. It eliminates or extinguishes the claim of the plaintiff to the extent of the amount of money claimed by the defendant as a counterclaim.   In simple terms, this means that if two parties owe money to each other but one of the two parties owes more money than the other party pays the net amount and settles the money owed.   Pursuant to Rule 6 of Order 8 of the Court, where the defendant claims, in an action against the plaintiff, the recovery of money which the plaintiff has legally recovered from the plaintiff, not exceeding the pecuniary limit of the Court, and where both parties have the same character as the plaintiff's claim, the defendant may, at

CS Executive Budgeting and Budgetary control as a tool of management Budgetary control  has become a fundamental  tool of management  for costs and maximizing profits. It may be appreciated as one of the utmost examples of rationality in management. It is a useful management tool for comparing the current performance with pre-planned performance with a view to attaining equilibrium between ends and means, output, and effort. It corrects the deviations from a pre-planned path through the media of observation, research planning, control, and decision-making and thus helps in the performance of future activities in an orderly way. It uncovers un-economies in operations, weaknesses in the organization structure, and minimizes wasteful spending. It acts as a philosopher, friend, and guide to the management. Its advantages to management can be summarized as follows: It brings efficiency and economy in the working of the business enterprise. It establishes divisional and departmental respons

What is a Negotiable Instrument and Types?   NEGOTIABLE INSTRUMENTS is a very interesting topic in Economic, Business, and Commercial Law, which is also part of our CS Online Coaching Class. The following is explained:   What is Negotiate Instrument?   A "negotiable instrument" means a promissory note, a bill of exchange or a check payable either to the ordering party or to the holder.   TYPES OF NEGOTIABLE INSTRUMENTS   Negotiable instruments recognized by statutes: the Negotiable Instruments Act mentions only three types of negotiable instruments (Section 13).   These are the following: i. Promissory Notes ii. Bills of Exchange, and iii. Cheques   Negotiable instruments recognized by the use or customs of trade: certain other instruments have acquired the characteristic of negotiability through the use or customs of trade.   For example, Exchequer bills, banknotes, Share warrants, Circular notes, Bearer debits, Dividend warrants, Share certificates with blank transfer deed

Meaning, Petition & Process -  Winding Up Of A Company The process of setting up a business and winding up is a process of law. In the modern era, setting up business/ incorporation has been simplified by way of ease of doing business. In light of the Companies Act, 2013, winding up is a process of dissolving the legal existence of the company. In the practical scenario under the earlier Companies Act, winding up of a company takes years to complete and was a tedious process. This article covers the overview of the winding up and modes as prescribed under the Companies Act, 2013 and Insolvency & Bankruptcy Code, 2016. In this article we will discuss the Process of Winding up a Company in accordance with the syllabus of  Setting up of Business Entities and Closure  – SBEC CS EXECUTIVE. MEANING OF WINDING UP Winding up is the process by which the assets of the company are saved and the affairs of the company are wound up. Even during the process of winding up the company continue

DIRECTORS (Composition, Qualification & Appointment) – COMPANY LAW A director in Company Law is the one who directs. This significant term follows the normal meaning under the  Company Law  as well. A Company being an artificial juridical person cannot act by itself. It is the individuals who severally and jointly run the business as representatives of the company and act on behalf of it. The concept of the Board of Directors under Company Law, it is an extensive topic. Especially the  Companies Act, 2013  which brought many new concepts of directors in order to be consistent with other laws in force such as Listing Regulations. This article will cover the basics of directors, Board of Directors, the composition of Board of Directors, qualification of Director and appointment of Director, etc. Being one of the vast topics, it is hard to line up all about directors in one brief article. Let us begin with the basic terms:   BOARD OF DIRECTORS   Section 2(10) – “Board of Directors” or

About the  CS Executive Company Law : The  Companies Act  is mammoth legislation. The  Companies Act, 1956  was one of the lengthiest Act with 658 Sections which was repealed by The  Companies Act 2013  containing 470 Sections. The new Act was a need of the hour as the 50 years old law required a new structure with added perspectives. It Act is nothing but all about companies since its incorporation till its winding up. In spite of several sections to understand this statue, we just need to understand a few basic principles.   Structure: In legal sense, Company is a business association. A group of persons associate themselves to conduct a business under a common name. They invest their amounts into business under a common named entity, by way of subscription of shares. They appoint personnel to look after and direct the business, known well as Directors. When the business makes a profit, it is distributed to the holders of the share. In case of losses, the holders of share are held re

  CS Executive Entrance Test | Exam Pattern, Eligibility, Fees, and all details. Secretary of the Council of Institutions of the Company for the exercise of reserve powers as per sub-section (a) (a) of section 15 of the Company Secretaries Act, 1980 Amendment to the Company Secretaries (Amendment) Act, 2006 reads Regulation 20 (1) (ii) The Company Secretary (Amendment) Rules, 2020 approved the course of the Company Secretary Executive Entrance Examination (CSEET).  All candidates are required to pass the  C S  Executive Entrance Test  (CSEET) to register with CS. Executive programs, except for certain candidate categories, with effect from, 3 February 2020. With the introduction of  CSEET , new registrations of the Foundation Program have been abolished Present. To know More About |Exam Pattern, Eligibility and Fee Subscribe Our Youtube Channel.  You Can Also Visit Our Website  www.takshilalearning.com  For  More Detail On CSSET and CS Executive Online Classes Here, at Takshila Learni