The Satisfaction Academy

Introduction The doctrine of ultra vires derives itself from the mother theory of Corporate Law i.e. the Theory of Perpetual Succession. This theory envisages that the company is a distinct entity and therefore exists independent from the members that constitute it. Every company that is established is for a purpose and its existence is complimented by that purpose. When a member of the company in particular the director of boards, does an act or puts forth an object that is not within the purpose or object of that company then the company will not be bound by such a contract and that object of purpose shall be ultra-vires of the company. This theory was established only after the late 1800's in England by virtue of the decision of Ashbury Railway Carriage & Iron Co Ltd v. Riche and then was strengthened and applied to cases of Attorney General v. Great Eastern Railway Company, Cotman v. Broughametc. By virtue of this project the researcher seeks to analyze t...

SARFAESI Act (The Securitization and Reconstruction of Financial Assets and Enforcement of Securities Act, 2002) was enacted to regulate securitization and reconstruction of financial assets and enforcement of security interest created in respect of Financial Assets to enable realization of such assets. The SARFAESI Act provides for the manner for enforcement of security interests by a secured creditor without the intervention of a court or tribunal. If any borrower fails to discharge his liability in repayment of any secured debt within 60 days of notice from the date of notice by the secured creditor, the secured creditor is conferred with powers under the SARFAESI Act to a) take possession of the secured assets of the borrower, including transfer by way of lease, assignment or sale, for realizing the secured assets b) takeover of the management of the business of the borrower including the right to transfer by way of lease, assignment or sale for realizing the secu...

The Reserve Bank of India (RBI) was constituted under the Reserve Bank of India Act, 1934 and started functioning with effect from 1 April, 1935. RBI is the oldest among the central banks operating in developing countries, though it is much younger than the Bank of England and the Federal Reserve Board operating as the central banks in UK and USA respectively, being developed countries. RBI is a state owned institution under the Reserve Bank (Transfer of Public Ownership) of India Act, 1948. This Act empowers the Union Government, in consultation with the Governor of the RBI, to issue such directions to RBI as considered necessary in public interest. The Governor and four Deputy Governors of RBI are appointed by the Union Government. The control of the RBI vests in the Central Board of Directors that comprises the Governor, four Deputy Governors and 15 Directors nominated by the Union Government. The RBI’s internal management is based on functional specialization and ...

Some of the major topics which come in professional knowledge section are given below:- RBI’s Constitution and Objectives Banking Regulation Act, 1949 Reserve Bank of India Act, 1934 Credit Information Bureau (India) Banker-Customer Relationship Payment and Collection of Cheques and Other Negotiable Instruments Documentation Different modes of Charging Securities Types of Collaterals and their Characteristics Foreign Exchange Management Act, 1999 The Prevention of Money Laundering Act, 2002 Limitation Act, 1993 Banker’s Books Evidence Act, 1891 The Recovery of Debts due to Banks and Financial Institutions (DRT) Act, 1993 Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest SARFAESI) Act, 2002 Central Registry Offences and Penalties Miscellaneous Provisions Consumer Protection Act, 1986 The Banking Ombudsman Scheme, 2006 Procedure for Redressal of Grievance Lok Adalats Contracts of Guarantee Contracts of Bailment ...

Some of the major topics which come in professional knowledge section are given below:-     Nature and Functions of HRM     Personnel policies and procedures     Principles of HRM     Human resource Planning     Recruitment and selection     Orientation and Socialisation     Mobility of Personnel and Retirement(transfers, promotion, demotion, separation)     Training and Development     Job analysis, Job design, job evaluation     Compensation (wages and salary), incentive plans     Performance and potential appraisal (MBO)     Employee morale and productivity     Personnel problems and employee counselling (labour turnover, absenteeism, alcoholic and drug abuse)     Employee health, safety and welfare     Trade unionism, collective bargaining, work...

MCQs on Industrial and Labour Laws Appointment of Welfare Officer under Factories Act, 1948 is compulsory where_______ employees are employed.  ( (a) 50 (b) 500 (c) 1000 (d) 100) Crèche is mandatory under the Factories Act  where ______________ workers are employed ( (a) 30 (b) 100 (c) 30 women (d) 250) A canteen for use of workers providing subsidized food is statutory under the Factories Act where _____________ workers are employed.  ( (a) 250 (b) 1000 (c) 100 (d) 150) Under Factories Act, appointment of a Safety Officer is mandatory where the no. of employees exceeds ________ ( (a) 1000 (b) 500 (c) 100 (d) 50) Under Plantation Labour Act, 1951 a Welfare Officer is required to be appointed where the no. of workers is __________ ( (a) 100 (b) 300 (c) 500 (d) 1000) Under Plantation Labour Act, crèche is to be set up where ______________ women workers are employed or the no. ...

The Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 1.       PF act is applicable to an establishment engaged in any industry specified in ……... A.      Schedule II B.      Hazardous Industries List C.      Schedule IX D.      Schedule I 2.       Minimum ……….. persons must be employed in as establishment for the applicability of the PF act. A.      15 B.      20 C.      35 D.      50 3.       The term “Appropriate Government” is defined in which section of the PF Act? A.      Section 2(a) B.       Section 2 (b) C.      Section 2 (d) D.      Section 2 (e) 4....

WHAT IS MARKETING? The term marketing has evolved over time, today marketing is based around providing continual benefits to the customer following a transactional exchange. The Chartered Institute of Marketing define marketing as 'The management process responsible for identifying , anticipating and satisfying customer requirements profitably' Marketing Definitions Philip Kotler defines marketing as 'satisfying needs and wants through an exchange process' Customers will only undertake the exchange, if they feel that their needs are being satisfied, clearly the transactional value can not be more than the amount customers are prepared to pay to satisfy their need. P.Tailor of www.learnmarketing.net suggests that 'Marketing is not about providing products or services it is essentially about providing changing benefits to the changing needs and demands of the customer (P.Tailor 7/00)' Marketing is the job of the marketing department? If we look at CIM...