Business Env. Unit-4
Business Env. Unit-4
Business Env. Unit-4
The Companies Act in a business environment typically includes provisions related to:
3. Financial Disclosures: Mandating the publication of financial statements and reports for
transparency.
5. Compliance: Ensuring adherence to legal requirements, such as filing annual reports and
maintaining statutory records.
6. Dissolution and Winding Up: Providing procedures for closing or liquidating a company.
7. Legal Liabilities: Defining the legal responsibilities of company officers and directors.
These provisions are designed to create a legal framework that governs the operation,
management, and accountability of companies within a business environment. The specifics
can vary based on the jurisdiction and the Companies Act in place.
4. Share Capital: Rules regarding the issuance, valuation, and maintenance of share capital.
6. Annual General Meetings: Requirements for holding regular meetings where financial
statements are presented, and shareholders exercise their rights.
7. Audit and Financial Disclosure: Mandating regular financial audits and disclosure of
financial statements to shareholders.
8. **Winding Up: Procedures for the dissolution and winding up of a company, including
liquidation processes.
It's important to note that the Companies Act has evolved over the years, and many
jurisdictions, including India, have since replaced the Companies Act of 1956 with more
contemporary legislation.
*Provisions Under the MRTP Act relating to Restrictive trade Practices and Unfair trade
Practices-
The Monopolies and Restrictive Trade Practices Act (MRTP Act) of 1969 in India, though it
has been repealed and replaced by the Competition Act of 2002, had provisions addressing
Restrictive Trade Practices (RTP) and Unfair Trade Practices (UTP). Here are some key
aspects:
4. MRTP Commission:
- Established the MRTP Commission to adjudicate and take corrective measures against
unfair and restrictive trade practices.
It's important to note that the MRTP Act has been replaced by the Competition Act of 2002
in India, which focuses on promoting fair competition and preventing anti-competitive
practices.
Silent Features of the Consumer Protection Act relating to Consumer protection in India-
The Consumer Protection Act in India, amended in 2019, encompasses several key features
to enhance consumer rights and protection. Notable aspects include the clear definition of
consumers, the recognition and enforcement of consumer rights, the establishment of
Consumer Disputes Redressal Commissions at various levels, the introduction of product
liability, prohibition of unfair trade practices, empowerment of Consumer Protection
Councils, provisions for handling e-commerce transactions, promotion of alternate dispute
resolution, and penalties for non-compliance. These measures collectively aim to provide
consumers with stronger safeguards and more effective mechanisms for addressing
grievances.
The Consumer Protection Act (CPA) in India was amended in 2019 to enhance consumer
rights and protection. Here are some salient features:
1.Definition of Consumer: Clearly defines who can be considered a consumer, expanding the
scope to include online transactions and telecommunication services.
2. Consumer Rights: Recognizes and enforces the rights of consumers, including the right to
be protected against marketing of goods and services that are hazardous to life and
property.
5. Unfair Trade Practices: Defines and prohibits unfair trade practices, ensuring consumers
are protected from deceptive practices, false advertising, and unfair business methods.