Section A

1.

Environmental Impact Assessment (EIA)

 EIA as per UNEP: The UNEP defines Environmental Impact
Assessment (EIA) as a tool used to identify the environmental,
social and economic impacts of a project prior to decision-making.
 Aim of EIA: It aims to predict environmental impacts at an
early stage in project planning and design, find ways and
means to reduce adverse impacts, shape projects to suit the local
environment and present the predictions and options to decision-
makers.
Importance of EIA

 Provides a cost effective method to eliminate or minimize the

adverse impact of developmental projects.
 Enables the decision makers to analyse the effect of
developmental activities on the environment well before the
developmental project is implemented.
 Encourages the adaptation of mitigation strategies in the
developmental plan.
 Makes sure that the developmental plan is environmentally
sound and within the limits of the capacity of assimilation and
regeneration of the ecosystem.
2.

CONTINGENT CONTRACTS

(Selection 31) “A contingent contract is a contract to do or not to do

something, if some event, collateral to such contract does or does not happen”.

Thus it is a contract, the performance of which is dependent upon, the happening

or non-happening of an uncertain event, collateral to such contract.

Example: X contracts to pay Y Rs.30,000, in consideration of Y paying Rs.

100 monthly premium, if Y’s factory is burnt. This is a contingent contract.

Example: A agrees to pay B a sum of money if B marries C. Contracts of

insurance and contracts of indemnity and guarantee are popular instances of

contingent contracts.

RULES RELATING TO CONTINGENT CONTRACTS

1. Contingent on the act of party to the contract.

2. Contingent upon the act of a third party.

3. Contingent on the happening of an event.

4. Contracts contingent on the non-happening of an event.

5. Contracts contingent on the happening or not happening of a specified event

within fixed .

6. Contracts contingent on impossible event

3.

Agency system is very popular in the current business scenario.

There are two parties in the agency system one is the principal and
another the agent. An agent is a person acting on behalf of his
principal. It’s a connecting link between the principal and the third
party. Herein we will discuss the creation of agency under the Indian
Contract Act, 1872.

Creation of Agency
A contract of agency may be express or implied. Consideration is not
an essential element in the agency contract. Agency contract may
also arise by estoppel, necessity or ratification.

Types of an Agency Contract

1. Express Agency

2. Implied Agency
a. Agency by Estoppel (Section 237)
b. Wife as Agent
 c. Agency of Necessity (Sections 188 and 189)
d. Agency by Ratification (Sections 169-200)

4.

FOREIGN CAPITAL

Most countries of the world which embarked on the road to economic

development had to depend on foreign capital to some extent. The degree of

dependence however, varied with the extent to which domestic resources could

be mobilized, the state of the domestic economy in respect of technical progress,

the attitude of the respective governments, etc. But the fact cannot be denied that

foreign capital contributes in many important ways to the process of economic

growth and industrialization.

FORMS OF FOREIGN CAPITAL

The different forms of foreign investments are:

1. Direct Foreign Investment

2. Foreign Collaboration
3. Inter-Government Loans
4. Loans from International Institutions
5. External Commercial Borrowing (ECB)

8.
In India, company registration is also referred to as incorporation of
company or formation of a business. Registering your company makes
your business a distinguished entity and gives it a legal existence. The
company registration process in India is done under the Ministry of
Corporate Affairs.
1) Apply For Director Identification Number
(DIN)

2) Apply For Digital Signature Certificate

(DSC)

3) Filing For New User Registration

4) Filing for Charter Documents

5) Application For Company Name

6) Register Other Details

7) Acquiring PAN and TAN

8) Obtaining a certificate from the State/Municipal Inspector under the

Shops and Establishment Act

9. Applying for GST Registration

10. Obtaining a Profession Tax Certificate from the State Profession Tax

Office