Are there any exemptions/ exceptions to sanctions  The aim of the sanctions regime is to curb the activity of specified individuals/ entities and not target the general masses per se. Hence the sanctions regime includes various exceptions and exemptions.  Often the terms exceptions and exemptions are used interchangeably. However there is a thin line of...Read More

What is the doctrine of Indoor Management  The doctrine of Indoor Management states that any outsider who has entered into a transaction with a company can presume that there are no internal regularities and that all procedural requirements have been complied with by the company. It is also known as Turquand’s Rule.  What are the...Read More

What is the doctrine of Ultra Vires Ultra vires is a Latin phrase which means ‘beyond the powers of’. The doctrine of ultra vires means that a Company cannot act beyond the powers which are conferred to it. The Memorandum of Association states the objects which can be undertaken by a Company. The Articles of...Read More

Does India impose any sanctions  India as a country does not have an autonomous sanctions regime. Hence, per se by itself it does not impose any sanctions. However, as India is a member of the United Nations, it needs to comply with the sanctions which are imposed by the United Nations. Does India maintain a...Read More

What are sanctions  Imposition of sanctions is a legal measure wherein restrictions can be imposed against any person/ entity that does not respect the international laws. They include a broad range of enforcement options that do not involve the use of armed force. Sanctions are usually regarded as a non-military means of coercion.  International sanctions...Read More

Can an Indian citizen perform any transaction in foreign currency  In India the permissible currency for undertaking any domestic transaction/s is the Rupee.  Transactions in foreign currency can be undertaken only in the case of cross border transactions. The foreign currency can be purchased from any Authorised Dealer who is approved by the Reserve Bank...Read More