THIS PROJECT HAS BEEN SUBMITTED BY ANANYA MISHRA 214026 ON THE TOPIC THE TREATMENT OF COLLECTIVE INVESTMENT SCHEME IN INDIA (CORPORATE LAW-1) IN THE MONSOON SEMESTER 2016-17 SCOPE OF THE ESSAY: The essay discusses various aspects of collective investment scheme and how it is different from other schemes. It contemplates upon the SEBI’s regulations and its efforts to consolidate and regulate the functioning of CIS companies that they meet all statutory requirements. It lays down the instances where SEBI has cleared the definition and scope of SICs while playing a key role in identifying Collective investment schemes. The essay is an attempt to highlight the problems SEBI faces during this identification and its intended …show more content…
Case (2015) On receiving a complaint about Rich Infra Developers India Ltd. ( “Rich Infra”) was giving huge returns to investors in return of investments made by them, SEBI conducted a preliminary investigation as to whether Rich Infra is CIS or not and sought information from them. The main contention raised by Rich Infra was that they are not involved into activities like collecting money from public rather they are involved in activities like selling of plots and farm houses which are being sold to prospective customers. However it was already declared that no land was distinguished by the company and it is unambiguously established that the schemes offered by Rich Infra are nothing but a “Collective Investment Scheme” that they have attempted to disguise as a real estate scheme. The most distinguishable feature of a real estate transaction i.e. a property is missing from this business. Hence, SEBI directed Rich Infra and its Directors: (a) stop collecting any money from investors under these disguised schems; (b) refrain from introducing any new schemes or float new companies (c) to immediately submit the full inventory of the assets including land obtained through money raised by Rich
Mr. Torbett, in the case about the Home Builders Institute (HBI), I noticed some key problems related to the Structural, Human Resources, Political and Symbolic frames. I will go through each of these problems in order to identify which frame it relates to, what the problem is, why it was caused, a recommendation for fixing the problem and any possible ramifications. This will provide some potential future step as you progress in your journey at HBI.
To purchase anything extra that the sharecropper required, the owner of the land would provide the c...
...against first registration is being phased out; by which after 2 years no applications will be taken and those in the previous 2 years cancelled, meaning that upon sale the property must be registered. The categories of adverse possession and overriding interests have been tapered. In the circumstance of possible adverse possession it clearly lay out between who is an adverse possessor and those that have a legal right in the property. It also makes compulsory application for title by the adverse possessor after 10 years which will be rejected, the court will notify the paper owner and if after 2 years the adverse possession is not ended the title will be given to the adverse possessor. Overriding interests have been narrowed and certain categories, such as legal easements have been made compulsory to register therefore confirming the easy access to conveyancing.
1) Informed that there were only a few residents & no Dutch among them, the company decided to purchase land for a factory site
person receiving the land, had to go through ceremony in which they would say that they
This paper is written to provide a reasonably comprehensive overview of Section 1031 of the IRC as it pertains to real estate transactions, and to offer some thoughts on the wealth-creation advantages that 1031 Exchanges offer.
In looking at property tax in developing countries it was put forward that there was a greater need for the revenues that are derived from this type of tax to finance the expenditure of the local government therefore a heavy reliance is placed on it (Bahl and Martinez-Vazquez 2007).
Ethiopia Real estate and property management LLC is an international real estate company, which is a culmination of the real estate companies in Ethiopia, Master or Regional RE/MAX franchises and partnership. Ethiopia Real estate and Property Management LLC formed by four dynamic visionaries who have about 80 years of experience with different fields such as: business management, Information technology, Law, and Real estate. The main objective of these visionaries’ are to fill the gap of the shortcoming in real estate sales technique as a whole in Ethiopia and to create the new way of doing real estate in one of the most vibrant developing country in The world.
Investment Property (IAS40) should be measure at fair value. Any changes in fair value (gain or loss) should be recognised in the income statement in the period in which it arises. The treatment is different from IAS16, such that any revaluation gain to be excluded from income
In law there are two types of land, registered and unregistered. It is necessary to register land so the register precisely reflects the state of the registered property, so it is clear to see who the current owner is and whether there are any third party proprietary interests affecting it; this is important as it would make many lal enquiries easier and will show the property’s reality to any future purchasers. The purpose of land registration according to Gray and Gray (2008) is that “any prospective purchaser of registered land should always be able to verify, by simple examination of the register, the exact nature of all the interests existing in or over the land which he proposes to buy”. There are three main principles of land registration: the insurance principle, curtain principle and the mirror principle. The mirror principle which essentially means that the register reflects reality hence all facts significant to the land title are to be found on the register. The significant facts that should be included in the register are “the owner, the nature of his ownership, and any limitations on his ownership and any rights enjoyed by other persons over the land that are adverse to the owner”. However this is not always the case as some third party proprietary interests override registered dispositions, these are called overriding interests. Overriding interests are binding on a purchaser of any registered land even though they are not on the register.
China Unicom and S.K can make use of the strategic arrangement to reduce the financial risk of their individual company. For example, when two companies jointly invested with an equal part in a project, the greater potential that each stand to lose is only half of the total project cost if not the
Leadership is not concerned with the position in the management of the company or the at what level you are working. A general thinking is that the most senior in the management of any company becomes the leader of that company. They are just that, senior executives. It is not connected with any pay grades or the level of seniority you have in the organization.
Rapid population growth and increasing urbanization have triggers increases in demand for real property. These developments ultimate translate to the responsibility of local authority in providing facilities for the public. Therefore, local government need some sources to provide these facilities. Basically local government income comes from taxes, fees and fines. Property taxes are the largest fund and backbone of municipal finance which is used to provide amenities and services. However not all land parcels and buildings can be taxed. There are some taxable properties which are exempted by law such as non profit religious, health, education and /or social activities; wildlife reserves and forests and other protected areas; cemeteries; those related to the functioning of certain international organisation; and those related to official foreign diplomatic presence (Lewis, 2003).
The subsidiary has been obtained after the premises has been vested in it by a bank which has propelled cash for the purchase of the premises and which held land through the subsidiary as security for credit.
(now Reliance Communication Ltd.) which has concentrated on Information and communication technology initiative. Ambani made the world 's biggest grassroots, petroleum refinery at Jamnagar, India In 2008, Dependence Industries ' purchased a cricket group "Mumbai Indians" in IPL worth $111.9 million.In 2014 Ambani announced the investment of 1.8 trillion in the next 3 years and to launch 4G broadband services in 2015. He served on the leading group of chief of 'Bank of American Corporation ' and the International consultative leading body of the committee on the outside connection. He is likewise served as the director of leading body of IIMB.