Company & Banking

A company is a registered association which is an artificial legal person, having an independent legal, entity with a perpetual succession, a common seal for its signatures, a common capital comprised of transferable shares and carrying limited liability.

According to Sec. 5 of the Banking Regulation Act, 1949, a banking company means and includes any company which carries on the business or which transacts the business of banking in India. Therefore, any company which is engaged in trade or manufacture, which accepts deposits of money from the public for the purpose of financing its business only, shall not be deemed to carry on the business of banking.

Corporate law

Corporate law is the body of laws, rules, regulations, and practices that govern the formation and operation of corporations. It is the body of law that regulates legal entities that exist to conduct business. The laws touch on the rights and obligations of all the people involved with forming, owning, operating, and managing a corporation.

Company formation

The Company is created only when registered under the companies Act 1956. But for the formation of a public company at least seven persons and for private company at least two persons are necessary. It is on incorporation that company becomes a body corporate and gets separate legal entity.

The formation of a company goes through several steps, starting from idea generation to commencing of the business. The major steps in formation of a company are as follows:

1. Promotion
2. Registration
3. Incorporation
4. Commencement of Business

Regulatory compliance

Regulatory compliance can be broadly defined as the adherence to laws, regulations, and guidelines created by government legislations and regulatory bodies applicable to an organization based on the industry and jurisdiction in which it operates.

Depending on the industry and jurisdiction, regulations vary significantly. Large organizations with a global footprint need to comply with pertinent laws and regulations in all the countries they operate in, and from.

Debt collection

Debt collection is when a collection agency or company tries to collect past-due debts from borrowers. You might be contacted by a debt collector if you have not made loan or credit card payments and those payments are severely past due.

Banking and financial legal solution

The substantial legal risks associated with the Banking and Finance business make it difficult to keep up with its problems. However, we should consider banking and finance to be important areas of our customers’ interest, and we need to create a wide range of legal services for these sectors, such as:

1. Financing for real estate, projects, and businesses
2. Preparing and negotiating the financial records
3. Syndicated loans and loan agreements 
4. Security devices and various types of guarantees
5. A legal evaluation of the financial records
6. Loans to consumers and trade funding