Entrepreneurship & Strategy e

What is law
 LAW means a set of rules :
 rules of conduct
 recognized and
 enforced
 through the state
 to manage and regulate people's behaviour with a
view to securing justice, peaceful livelihood, and social
security.

February 14, 2024

 The law of the land:
 the system of rules which
 a particular country or community recognizes as
 regulating the actions of its members and which
 it may enforce by the imposition of penalties.

There are laws for a group of

countries and the world at large

February 14, 2024

 Laws with reach to more than one jurisdiction

 Organisation for Economic Co-operation and Development (OECD)

 Maritime laws
 International laws
 Double taxation avoidance agreements
 International Arbitration and
Reconciliation

Global village

February 14, 2024

 EVOLUTION OF LAW IN INDIA
1 3

2 4

VEDIC PERIOD BRITISH

PERIOD

ISLAMIC POST
PERIOD INDEPENDENCE

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 INTRODUCTION TO LAW IN INDIA
HISTORY OF INDIAN LAW:

 Law in India primarily evolved from customary and religious practices,

 Recorded history of law starts from the Vedic period

 There may have been a form of legal system even during the Bronze Age and the
Indus Valley civilization.

February 14, 2024

 ANCIENT AND VEDIC PERIOD

India has the oldest judiciary in the world. No other judicial system has a more
ancient or exalted pedigree.

 The laws were based on “Dharma”

 Indian sea farers trades across the seas over a 1000 years ago

 Business laws in ancient India

 Kautalyas Arthashastra
 Manu Smrithi

February 14, 2024

 Manu mentions following grounds on which
litigation may be instituted

Non-payments sale without non-delivery of

deposits; partnership;
of debts; ownership; gifts;

cancellation of a disputes the law on

non-payment of Breach of
sale or between owners boundary
wages; Contract;
purchase; and herdsmen; disputes

physical crimes against

verbal assault; theft; violence;
assault; women;

law concerning
partition of gambling and
husband and
inheritance; and betting.
wife;

February 14, 2024

ANCIENT AND VEDIC PERIOD
Pre Islamic period

The King's Court was the

The King's Court was the
highest court of appeal In villages, the village
highest court, next to
as well as an original councils dealt with simple
which came the court of
court in cases of vital civil and criminal cases.
the Chief Justice.
importance to the state.

In towns and districts the

courts were presided Trade guilds were
over by government authorised to exercise an Family courts were
officers under the effective jurisdiction over established.
authority of the King to their members.
administer justice.
 ANCIENT AND VEDIC PERIOD

 Minor criminal cases were dealt with by judicial assemblies in villages whereas
criminal cases of a serious nature were presented before the central court
usually held under the King or royal authority.

 The appeal system was practised and the King was the highest body of appeal.

 One significant feature of the ancient Indian legal system was the absence of
lawyers.

 Another notable feature was that a bench of two or more judges was always
preferred to administer justice rather than a single individual being the sole
administrator of justice.
 ISLAMIC PERIOD
 Sharia and Islamic laws were introduced with the establishment of Delhi
Sultanate, Bengal Sultanate and Gujarat Sultanate.

 In the 17th century, the Mughal Empire's sixth ruler, Aurangzeb, compiled the
Fatawa-e-Alamgiri

 Has had an effect in most parts of South Asia.

 Sharia Islamic law or sharia law is a religious law forming part of the Islamic
tradition.

 Derived from the religious precepts of Islam, the Quran and the hadith.

February 14, 2024

 BRITISH PERIOD

 In 18th century, the British East India Company took over the political and
administrative powers in India.

 For Muslims of India, the code was available in al-Hidaya and Fatawa-i Alamgiri
written under the sponsorship of Aurangzeb.

 The early period of Anglo-Hindu Law (1772–1828) was structured along the
lines of Muslim law practice.

 The arrival of William Bentinck as the Governor-General of British India in

1828, marked a shift towards universal civil code.

 In 1864, after the East India Company was dissolved and India became a formal
part of the British Empire, Anglo-Hindu law entered into a second phase (1864–
1947)

February 14, 2024

 MODERN INDIAN LAW
CONSTITUTION LAW:

 The Constitution of India is the lengthiest written constitution in the world.

 Based on the Government of India Act 1935,

 Also contains various other provisions that were drawn from other constitutions.

 Codifies the relations between the Federal Government and the State Governments.

 A federal structure of government, with a clearly defined separation of legislative and

executive powers between the Federation and the States.

 Each State Government has the freedom to draft its own laws on subjects classified as
state subjects.

 Has unitary features and the overriding authority assumed by the Federal Government in
times of emergency.

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 The Constitution of India is
the longest written
constitution for a country,
containing
444 articles,
12 schedules,
94 amendments and
117,369 words.

February 14, 2024

 MODERN INDIAN LAW
CIVIL LAW:

 Code of Civil Procedure was first enacted in 1858, which received the assent of
Governor-General on 23 March 1859.

 Not applicable to the Supreme Court in the Presidency Towns and to the
Presidency Small Cause Courts.

 Replaced by Code of Civil Procedure Code, 1877 and large amendments were
made.

 In 1882, the Code of Civil Procedure, 1882 was introduced and the Civil
Procedure, 1908 was enacted subsequently.

February 14, 2024

 MODERN INDIAN LAW
CRIMINAL LAW:

 The Indian Penal Code formulated by the British during the British Raj in 1860.

 Jury trials were abolished by the government in 1960 on the grounds they
would be susceptible to media and public influence. This decision was based on
an 8-1 acquittal of Kawas Nanavati in K. M. Nanavati vs. State of Maharashtra,
which was overturned by higher courts.

 In February 2011, the Supreme Court of India ruled that criminal defendants
have a constitutional right to counsel.

 Capital punishment in India is legal. The last execution was conducted on

February 28, 2017, when two women, Renuka Shinde and Seema Mohan Gavit.

 They were also the first women in India to be given capital punishment.
February 14, 2024
 MODERN INDIAN LAW
CONTRACT LAW:

 Contract law in India is codified in the Indian Contract Act, which came into
effect on 1 September 1872 and extends to all India.

 It governs entrance into contract, and effects of breach of contract.

 Indian Sales of Goods Act and Partnership Act were part of Indian Contract
act.

 The Contract act is the main and most used act of legal agreements in India.

February 14, 2024

 MODERN INDIAN LAW
LABOUR LAWS:

 Indian labour law are among the most comprehensive in the world.

 inflexible resulting from government needing to approve dismissals.

 Labour rights are not actually available and laws are not enforced for some
workers due to poor implementation/enforcement.

February 14, 2024

 MEANING AND SOURCES OF MERCANTILE LAW
INDIAN MERCANTILE LAW

 Indian mercantile law is primarily a version of the English law.

 Changes and modifications made for Unique circumstances prevailing in India.

SOURCES OF MERCANTILE LAW

 English Mercantile Law Mercantile Law, also known as commercial law, governs the rights and obligations
arising from business transactions. Here's a breakdown of the information you
provided:

 Indian Statue Law

Meaning:

Indian mercantile law is a system of laws that regulates trade, commerce, and
business activities within India.
It's heavily influenced by English mercantile law, but adapted to address specific
 Jurisdictional Decisions circumstances in India.

 Customs and Usages

February 14, 2024

SOURCES OF MERCANTILE LAW
 English Mercantile Law

 Indian Statue Law

 Jurisdictional Decisions

 Customs and Usages

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 MEANING AND SOURCES OF MERCANTILE LAW
English Mercantile Law

 English laws were urbanized through customs and usages of merchants or

traders in England. The sources of English Mercantile Law are Common Law,
Equity, Law Merchant, and Statute Law.

 Also recognized as 'General Law'.

 It is an unwritten law based on judicial decisions, customs, usages, and

precedents.

 The mainly significant part of mercantile law, namely, the Law of Contracts, is
still a part of General Law in England.

 In the absence of any provision related to the issue in question, the direct
recourse is to refer to the English Mercantile Law.
February 14, 2024
 MEANING AND SOURCES OF MERCANTILE LAW
Indian Statue Law:

 The Acts passed by the Indian Legislature.

 The significant Acts passed through the Indian Legislature are the Indian
Contract Act 1872, The Sale of Goods Act 1930, etc. Company's Act 2013 etc

 Bring uniformity in Indian Law.

 Changes can be brought in Indian Law by legislative enactments.

February 14, 2024

 MEANING AND SOURCES OF MERCANTILE LAW
Jurisdictional Decisions:

 The judicial decisions of courts of Higher Courts and peer Courts.

 Binding on all subsequent decisions unless appealed against in front of a Higher

Authority.

 The decision of the Supreme Court has persuasive value for the same bench, but
it has binding value in the case, a larger bench gave the earlier ruling.

 The judge has to decide the case just as to the principle of equity, justice, and
good conscience.

 The decisions of English courts are referred to in certain circumstances.

February 14, 2024

 MEANING AND SOURCES OF MERCANTILE LAW
Customs and Usage:

 The codified law of India has given superseding powers to the customs and
usages.

 Section 1 of Indian Contract Act

 “Nothing herein contained shall affect any usage or custom of trade not
inconsistent with the Act.” – Case Irrawaddy Flotilla Company v. Bugwandas.

 A custom becomes valid when it is reasonable, consistent with law, not against
public policy etc. and is recognised as such.

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 LAWS TO TAKE PARTICULAR NOTE OF
Certain business laws that would be applicable to all business types.

 Indian Contracts Act 1872

 Sale of Goods Act 1930

 Companies Act 2013

 FEMA

 SEBI

 SCRA

 Income Tax Act 1961

February 14, 2024

 THE ENACTMENTS WHICH ARE INCLUDED THE
SYLLABUS
 The Law of Torts Act India
 Indian Contract Act 1872
 The Negotiable Instrument Act 1881
 Workmen’s Compensation Act, 1923
 Sale of Goods 1930
 Partnership Act 1932
 Industrial Disputes Act, 1947
 Articles 15 and 16 of the Indian
Constitution
 Reserve Bank of India Act 1948
 The Income Tax Act 1961
 Maternity Benefits Act, 1961
 The Customs Act 1962
 Specific Relief Act, 1963
 Equal Remuneration Act, 1976
 Prohibition of Benami Property
Transactions Act, 1988 (2016)
 Foreign Exchange Management Act 1990
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 Persons with Disabilities (Equal
Opportunities, Protection of Rights and
Full Participation) Act 1995
 Arbitration & Conciliation Act, 1996
 The Trade Marks Act, 1999 Intellectual
property
 Prevention of Money Laundering Act,
2002,
 Limited Liability Partnership Act 2008
 The Sexual Harassment of Women at
Workplace (Prevention, Prohibition and
Redressed) Act, 2013
 Companies Act 2013
 Insolvency and Bankruptcy Code 2016
 Central Goods and Services Tax Act,
2017 (CGST)
 The Integrated Goods and Services tax
Act, 2017 (IGST)
 Assignment

Henry Maine, British jurist, historian, and

anthropologist described the legal system of ancient
India "as an apparatus of cruel absurdities".
-- Discuss this statement.

February 14, 2024

B.RAMANA KUMAR M.Com., LLB, FCA, IP,DISA(ICA)
ADVOCATE & INSOLVENCY PROFESSIONAL

51A DR RANGA ROAD,

MYLAPORE, CHENNAI-600004

PHONE 9841113024
ramanakumar@ovopaxlegal.com , ramanaechambers@gmail.com
February 14, 2024