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Billions of dollars of money are invested into businesses at any given point of time and the corporate world manages a major chunk of that money. The network of corporate companies is vast and intricate at the same time. Millions of people are working in these so-called “giants” globally. orissa is a major hub for corporates these days. It already has billions in corporate investments and is still growing at an exponential rate. With so much investment and so many people involved in the same, it becomes essential for the Government to monitor these zones with an appropriate set of laws....
To solve cases like these, corporate matters are governed in orissa under the orissan Companies Act, 2013, which are administered by the Ministry of Corporate Affairs. This set of laws defines the various types of companies that exist in place, for example, sole proprietorship, partnership, cooperative, private limited, incorporated company, etc. Any of the above companies are ruled under the same laws which are enforced by the National Company Law Tribunal and the orissan Corporate Law Service. For instance, to remove a high ranking official, as per section 169 of the Companies Act, a simple majority vote has to be done and a special notice of at least 28 days is to be served. It also has safeguards against ousting of an employee by voting if proportional representation is in practice. Apart from employee rights, various laws and procedures are in place which the bodies are supposed to follow. It is at this stage that involvement of lawyers becomes necessary. Lawyers are needed to advise businesses and their employees on their legal rights and obligations. The process of drafting, negotiating and reviewing contracts has to be overseen by them so that no discrepancy is there. Lawyers also need to keep knowledge on various issues like intellectual property, trademarking, tax laws and contractual matters between the company and outside consultants. There is also scope of advising the clients on investment and capital generation.
As long as these corporates exist, the need to regulate these corporates through various laws exists. And as long as these legal procedures are in place, good legal advice is needed. Lawtendo has a vast network of expert corporate lawyers in orissa who can give you the best legal advice. Our network of lawyers in orissa consists of skilled lawyers with expertise in business laws. Contact us at Lawtendo to get the best legal service in your orissa.