Following the continuous endeavour to provide quality legal content to the law fraternity in India and abroad, we proudly announce the release of Bare Act Box Set 2024. These bare acts have been a crucial part of the law fraternity, whether a law student, an Advocate, or a Judge, for decades.

For 80+ years, Eastern Book Company has been rigorously working on improving the already acclaimed quality and accuracy of the content, strong and professional paper and binding quality. Discrete box sets of Top 100 bare acts, Civil bare acts and Criminal bare acts make finding information precise and easy. Hence, these beautifully crafted boxes are not just a perennial source of bona fide information but also add aesthetic ambience to your library.

In the complete list of Bare Acts 2024, many major Acts, such as The Mediation Act, 2023; The Digital Personal Data Protection Act, 2023 and The Biological Diversity Act, 2002 to name a few, have already been meticulously and exhaustively covered in the best bare act box set available on EBC Webstore.

Other than these, here are a few more remarkable features of the Bare Act Box Set 2024:

•             List of Amending Acts. Where necessary, History of amendments given in footnotes, along with position before amendment.

•             Headnotes of important judgments as published in SCC reproduced, wherever relevant.

•             Systematic publishing & high class printing.

•             Specifically recommended by most High Courts, District Courts etc. and relied upon by most lawyers, Judges & academicians.

•             Incorporating State Amendments and High Court Amendments (wherever relevant and available).

Commendations from who’s who of the law fraternity:

“Eastern Book Company has been a pioneer in the field of law publication and legal reporting. I thank EBC for presenting me with those valuable exhaustive bare acts….”

-Former Minister of Law & Justice, Shri Kiren Rijiju

“EBC Bare Acts on the Code of Civil Procedure, Constitution of India, and Indian Penal Code are an exceptional compilation of legal wisdom, including case commentaries and notes. With meticulous accuracy, comprehensive organization, and insightful annotations, these bare acts empower readers to navigate the intricacies of the law with ease and confidence. I congratulate EBC for its exceptional contribution in creating state of the art bare acts.”

-Sanjay Vashishtha, Advocate

Limited Period Offer on EBC’s Bare Act Box Set 2024 available only on EBC Webstore–

Buy Now & Get a Free Gift Voucher worth Rs. 10000/-

Get your set today! We can also deliver it to your doorsteps:

•             Visit www.ebcwebstore.com to place your order and get free delivery

•             Call 1800 1800 6666 toll free to enquire now

•             Call 0522-4033600 and place your order with us

•             Whatsapp @ 9935096000

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•             Call 9935096010 for bulk orders/enquiry

The post Amended, updated: EBC’s Bare Act Box Set 2024, Now Available! appeared first on EBC.

EBC Group is happy and proud to welcome the Company Law Institute (CLI) and its Law Reports into the EBC family. EBC hopes to serve the nation, the profession, and our esteemed customers, with this wider choice and with the same dedication and alacrity as before.

About Eastern Book Company

Established in 1942, the EBC Group is the intellectual giant in legal publishing. It was in the 1940s when two brothers, Lt. Shri C.L. Malik and his younger brother, Lt. Shri P.L. Malik, decided to settle in Lucknow and embark upon a career in law book-selling and publishing. Together they laid the foundations of what today has grown into a group of companies under the banner of EBC.

The EBC Group brings to you Supreme Court Cases (SCC), Supreme Court Yearly Digest Series, and SCC Complete Digest Series, High Court Cases (HCC), Information and Technology Cases (ITCC), SCC Online, EBC Webstore, EBC Student Books and Practitioner Commentaries, EBC Reader, SCC Online Blog, Mercury and the Practical Lawyer magazine.

About Company Law Institute

The Company Law Institute of India Private Limited (CLI) was established in Chennai (then called Madras) by Mr. A.N. Aiyar in 1931. CLI is well-known for its quality content and helps with access to Case Reports/Statutes/Articles consolidated since 1931. Mr. Aiyar believed in placing quality above everything else. He laid down methodical standards of summarizing, paraphrasing, indexing, footnoting, and cross-referencing, which are being followed even today.

Company Law Institute of India’s Law Reports include:

• Income Tax Reports (ITR) – A weekly journal of reports of cases on direct taxes and related statutory notifications and Acts, since 1933;
• Company Cases (CC) – A weekly journal for Corporate Law.
• Goods and Services Tax Reports (GSTR) – A weekly journal of case reports on Customs, Excise Duty and Service Tax Cases;
• Income Tax Reports (TRIB) – A weekly journal containing Income Tax Appellate Tribunal orders since 2010;
• VAT and Service Tax Cases (VST) – A weekly journal for law on value-added tax, service tax, and sales tax with case laws and statutes. Reporting is now merged with GSTR after the advent of the GST regime.
• Sales Tax Cases – Launched in 1950, it was the first national journal on the law of sales tax and is the only journal of its class to this day. Reporting first merged with VST Cases and now with GSTR after the advent of the GST regime.

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The All India Bar Examination (AIBE) is a crucial examination for aspiring lawyers in India, conducted by the Bar Council of India (BCI). This exam aims to assess the legal knowledge and skills of law graduates, ensuring that they possess the competence needed to practice law in India. After clearing the All India Bar Examination, the candidate is awarded a certificate of practice by the Bar Council of India. Qualified members in the exam can attend court hearings in any tribunal’s courts and administrative bodies.

Background:

The AIBE was introduced in 2010 as a mandatory examination for law graduates who wish to practice law in India. The primary objective is to evaluate whether candidates have a minimum level of understanding of the law and ethics necessary to serve as legal professionals. The examination has evolved over the years to reflect changes in the legal landscape and to maintain high standards in the legal profession.

Examination Process:

The AIBE typically consists of multiple-choice questions (MCQs) and essay-type questions. The examination assesses candidates on various subjects, including constitutional law, criminal law, civil law, professional ethics, and legal reasoning. The exam is conducted in 53 cities having 261 centres as an open-book exam and conducted offline in 3 and half hours duration.

Eligibility

All India Bar Examination can be attended on the below eligibility:

• Members should hold a law degree (3-Year/5-Year) from a recognised institute of law approved by the Bar Council of India.
• Should have been registered with their respective State Bar Councils.
• No upper age limit for appearing in the exam.

AIBE XVIII (18) 2023-24: The Bar Council of India (BCI) has released AIBE 18 (XVIII) official notification. As per the official notification, AIBE XVIII (18) 2023-24 Exam Date is October 29, 2023. Click here to register for the AIBE-XVIII.

Get prepared for the AIBE 2023

To prepare for the All India Bar Examination (AIBE) in 2023, it’s essential to have the right study materials and books that cover the required subjects and topics. When selecting books and study materials, it’s crucial to align them with the AIBE syllabus and the specific subjects you need to cover. Additionally, consider your own learning style and preferences when choosing resources. Some candidates prefer comprehensive textbooks, while others may benefit from more concise study guides and practice papers. Here are the best books for the All India Bar Examination (AIBE-2023):

EBC’s Master Guide To All India Bar Examination (AIBE Exam Guide)

It is a comprehensive book to study for the exam conducted by the Bar Council of India. The following are some of the unique features of this Guide:
1. Authoritative commentary on all the prescribed subjects in one compact volume.
2. Includes the latest case laws and statutory amendments, viz. Bonnie Foi Law College case, 2023.
3. More than 2500 exam-styled MCQs along with answers.

Bare Act Combo for All India Bar Examination (AIBE)by Commercial Law Publishers

This Bare Act Combo Set of 21 Acts is specially designed for Students who are preparing for the All India Bar Examination (AIBE) conducted by The Bar Council of India. The Bare Acts are without comments. This set includes the Advocates Act, 1961, Arbitration & Conciliation Act, 1996, Code of Civil Procedure, 1908, Code of Criminal Procedure, 1973, Constitution of India, 1950, Consumer Protection Act, 2019, Environment Laws, Family Laws, Indian Contract Act, 1872, Indian Evidence Act, 1872, Indian Penal Code, 1860, Cyber Laws (Information Technology Act, 2000), Intellectual Property Laws, The Limitation Act, 1963, Motor Vehicles Act, 1988, Negotiable Instruments Act, 1882, Right to Fair Compensation & Transparency in Land Acquisition, Rehabilitation & Resettlement Act, 2013, Specific Relief Act, 1963, Property Act, 1882, Labour & Industrial Laws, and Companies Act, 2013.

All India Bar Examination – AIBE Solved Papers (2011 – 2023)

This title contains solved papers of all examinations held from 2011 to 2023. It features:

1. Indispensable aid for those appearing for the All India Bar Examination.
2. Contains solved question papers, along with explanations, for entrance examinations held by the Bar Council of India from 2011 to 2023.

Guide to All India Bar Examination by Universal

The book covers all the subjects that form part of the syllabus prescribed by the Bar Council of India. It features:

1. Covers all subjects forming part of the prescribed syllabus
2. Provides both theories as well as MCQs on each subject
3. MCQs and subject-wise theory has been thoroughly revised and updated in light of recent legislative and judicial developments
4. Previous three-year question papers along with the answer key have also been provided

All India Bar Pariksha (AIBE) Guide by Dr Sanjay Gupta, Brajesh Kumar

All India Bar Pariksha (AIBE) Guide (As per the New Syllabus of 2023-24), along with the Solved Papers of 2018, 2019, 2021, 2023.

The post AIBE 2023: Everything You Need to Know About the Exam appeared first on EBC.

About EBC Learning

EBC Learning is an online platform that offers courses on legal and ancillary subjects. EBC Learning does not seek to limit its reach to legal subjects and aims to provide training in all related areas of higher education. EBC Learning aims to solve real problems by providing access to quality education through technology. Courses at EBC Learning are only taught by top professionals, experts, and teachers and meet the strictest quality standards.

Here is the list of the top live law courses online:

NALSAR University|EBC Learning: M.A. in Corporate Law

NALSAR University of Law and EBC Learning, from the EBC Group, have collaborated to introduce a 2-Year M.A. programme in Corporate Law. This one of the best online law courses is a comprehensive educational initiative focused on equipping participants with in-depth knowledge and exposure to practical expertise in the field of corporate law.

KEY HIGHLIGHTS
1) M.A Degree by NALSAR University of Law
2) 180 hrs. of Live Classes
3) Exclusive Print Learning Materials
4) Access to 550+ Videos, 20+ eBooks & 100+ Case Laws

Upskill Diploma in Advanced Intellectual Property Rights Programme by EBC Learning & CII

EBC Learning in association with CII present Upskill Diploma in Advanced Intellectual Property Rights. The programme is designed by professionals to bring a comprehensive understanding of every stage involved in the life cycle of intellectual property. The course is useful for aspirants who wish to further specialize in intellectual property and engage in the IP domain. Conceptual and case-based learning would help you develop a deeper insight into the subject of IP.

KEY HIGHLIGHTS
1) Online Diploma Certificate
2) 40+ Live Classes
3) Access to 140+ Pre-recorded Videos
4) 100% Placement Assistance/Internship Guarantee

Upskill Diploma Course in Advanced M&A Practice by EBC Learning & CII

EBC Learning in association with CII launches Upskill Diploma Course in Advanced M&A Practice, covering Mergers & Amalgamations, Due Diligence, Deal Process, Private Equity, Venture Capital, Capital Markets, Securities, Competition & Insolvency. Taught by industry experts and professionals, it is a comprehensive and rigorous course that gets you ahead, covering theoretical, critical, and practical training on the related subject.

KEY HIGHLIGHTS
1) Online Diploma Certificate & Recommendation Letter
2) 35+ Live Classes & 250+ Pre-recorded Course Videos
3) Access to 21+ eBooks & 50+ Landmark Cases
4) Career Guidance & 100% Placement Assistance

EBC Learning Live Online Course on Insolvency and Bankruptcy Code (IBC) Practice (Two Weeks Intensive Course)

This online certificate course on IBC will take you through the various stages in the resolution process commencing from the invitation of expression of interest for the Resolution Plan to the filing of the Resolution Plan with the NCLT for its approval.

The two-week intensive course on IBC Practice contains the following:

• IBC essentials
• Initiating insolvency process
• Filing by operational and financial creditors
• Insolvency resolution process
• Fast-tracks and pre-packs
• Corporate asset valuation
• Liquidation
• Insolvency litigations and related drafting

KEY HIGHLIGHTS
1) Unique Certification by EBC Learning
2) 10 Live Classes & Access to 98 Pre-recorded Sessions
3) Access to 3 eBooks
4) Access to 30 Leading Cases

The post Top Live Law Courses Online appeared first on EBC.

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NALSAR University of Law and EBC Learning, from the EBC Group, have collaborated to introduce a 2-Year M.A. programme in Corporate Law. This initiative aims to bridge the gap between traditional legal education and skill-based learning, ensuring that graduates are equipped to meet the ever-evolving demands of the corporate world. With the programme’s comprehensive curriculum, aspiring corporate lawyers and managers will gain the necessary expertise to navigate this complex area of law. By combining theoretical knowledge with practical skills, this effort empowers students to excel in the multifaceted realm of corporate law and contribute effectively to the success of businesses. Whether you’re a lawyer or a corporate professional seeking to specialise in corporate law, this programme is your gateway to success.

Unique Collaboration

The collaboration between EBC Learning and NALSAR harnesses the expertise of both institutions. The programme draws from the experience, expertise and resources of EBC,  India’s top and most reputed law publisher, and those of NALSAR University, India’s top law school. This collaboration ensures a well-rounded and impactful learning experience offering the best curriculum, content, and technology.

Programme Description

The 2-Year M.A. programme in Corporate Law offers a structured curriculum designed to provide in-depth knowledge and practical skills. Students will complete a total of 66 credits, which include core courses such as Mergers and Acquisitions, Competition Law, Contract Law and Contract Drafting, Corporate Compliance and Risk Management, and a multitude of other important topics.

Renowned Faculty and Industry Experts

The programme boasts a distinguished faculty comprising leading academics and experienced professionals from the legal and corporate sectors. These faculty members bring a wealth of knowledge and industry insights to the classroom, enriching the learning experience for students. Moreover, the programme regularly invites industry experts to provide real-world perspectives and ensures that students stay abreast of the latest trends and developments in corporate law.

Curriculum Highlights

The M.A. programme in Corporate Law is structured into distinct courses, each addressing crucial aspects of the field. The programme offers a treasure trove of knowledge where participants get access to over 550+ captivating videos that bring complex concepts to life, links to leading cases from SCC Online, and a plethora of enriching e-books from EBC Reader. Access to a vast collection of digital books, articles, research papers, and other educational materials is also provided through the NALSAR library resources. Apply today for a thrilling experience.

The post NALSAR University collaborates with EBC Learning to offer a 2-Year M.A. in Corporate Law appeared first on EBC.

Industry-Recognized Degree/Diploma: An industry-recognized degree/diploma plays a pivotal role in opening doors to lucrative career opportunities. It not only demonstrates your commitment to personal growth but also showcases your proficiency and knowledge in a specific field. Obtaining an industry-recognized degree/diploma in the legal industry significantly enhances one’s career opportunities. Many prestigious law firms, corporate legal departments, and government agencies have specific hiring requirements that prioritize candidates with recognized degrees. Having such a degree/diploma can open doors to a wide range of job prospects, increasing the likelihood of securing sought-after positions in the legal profession.

A Collaborative Partnership: The collaboration between EBC Learning and NALSAR brings together the expertise and resources of two influential entities in the legal education domain. EBC Learning, known for its cutting-edge eLearning solutions, has established itself as a frontrunner in delivering quality legal content through its interactive online platform. On the other hand, NALSAR University of Law has earned a reputation for its academic rigor, distinguished faculty, and commitment to fostering legal excellence. By merging their strengths, these institutions aim to create a synergy that will amplify the impact of their educational offerings.

Enhancing Access and Flexibility: One of the key objectives of this association is to enhance access and flexibility in legal education. EBC Learning’s online platform will provide students and professionals with round-the-clock access to an extensive repository of courses, lectures, case studies, and research materials. This digital infrastructure will enable learners to access educational resources anytime, anywhere, eliminating geographical barriers and empowering individuals from diverse backgrounds to pursue legal education at their own pace. Through this partnership, NALSAR and EBC Learning envision reaching a wider audience and democratizing legal education.

Expanding Course Offerings: The collaboration between EBC Learning and NALSAR will result in an expanded array of courses, catering to various aspects of legal education. Leveraging the expertise of NALSAR’s renowned faculty, the platform will offer specialized courses in diverse legal domains, including corporate law, intellectual property, human rights, constitutional law, and more. The curriculum will be regularly updated to incorporate emerging legal trends and address contemporary issues, ensuring that learners receive up-to-date and relevant knowledge.

Interactive Learning Experience: At the core of this association is the shared belief that effective learning requires engagement and interaction. EBC Learning’s platform employs innovative teaching methodologies such as multimedia presentations, case studies, quizzes, and discussions, fostering an immersive learning environment. Learners will have the opportunity to interact with faculty members, industry experts, and fellow students, enhancing their understanding and gaining practical insights into legal concepts. This interactive approach aims to nurture critical thinking, problem-solving skills, and ethical decision-making abilities among learners.

Networking and Professional Development: In addition to providing high-quality educational content, the association between EBC Learning and NALSAR will facilitate networking and professional development opportunities for students and professionals. The platform will host webinars, workshops, and panel discussions featuring prominent legal practitioners, enabling learners to connect with industry leaders and gain valuable insights into the real-world application of legal principles. 

Conclusion:

The association between EBC Learning and NALSAR University of Law signifies a paradigm shift in legal education. By harnessing the power of technology, this collaboration aims to democratize legal education, making it accessible, flexible, and interactive. The enriched course offerings, interactive learning experience, and networking opportunities provided by this association will empower law students and professionals to excel in an evolving legal landscape.

As EBC Learning and NALSAR join hands, they embark on a journey to reshape legal education, nurture legal talent, and create a future generation of accomplished legal professionals.

Registration is Open for the First Course on MA in Corporate Law

Don’t miss the chance to be part of the inaugural MA in Corporate Law program offered through the collaboration of EBC Learning and NALSAR. Prepare yourself for a successful career in corporate law by gaining in-depth knowledge, practical skills, and the prestigious MA degree from NALSAR. Register today and embark on a transformative learning journey.

The MA in Corporate Law program is designed to equip students with a deep understanding of the legal framework governing corporate practices, mergers and acquisitions, corporate governance, and compliance. The curriculum has been meticulously crafted by expert faculty members from NALSAR, ensuring a balanced blend of theoretical knowledge and practical application. This course is ideal for law graduates and professionals seeking to enhance their expertise in corporate law or transition into a career in this dynamic field.

The post Unlocking the Power of Collaboration: NALSAR University of Law & EBC Learning appeared first on EBC.

The article highlights ten compelling reasons why individuals, law firms, and educational institutions should consider opting for an online legal eLibrary in India. By harnessing the power of technology, these platforms bring forth the wealth of legal information at one’s fingertips, revolutionizing the way legal research is conducted. From accessibility and cost-effectiveness to real-time updates and advanced search capabilities, the benefits of online legal eLibraries are vast and far-reaching.

By leveraging these platforms, legal professionals can streamline their research processes, enhance the quality of their work, and stay updated with the latest developments in the legal field. Moreover, law students can access a vast range of resources to support their studies and delve deeper into their chosen areas of interest.

Fill out the form below to get a complete live demo of the eLibrary. Experience the awesomeness!

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Reasons to choose online legal elibrary in India

Let us explore these reasons in detail, shedding light on the transformative impact that online legal eLibraries have in India-

1. Access to a vast collection of legal resources– An online legal eLibrary in India provides access to an extensive collection of legal resources, including statutes, case law, legal journals, commentaries, and legal textbooks. It allows you to explore a wide range of materials conveniently from a single platform. Just like EBC Reader eLibrary containing 1100+ Volumes of famous legal titles.

2. Cost-effective– Online legal eLibraries often offer subscription-based models, which are generally more cost-effective than purchasing individual legal books or journals. It eliminates the need to invest in physical copies and provides access to a wealth of legal information at a fraction of the cost. EBC Reader Platinum Edition will cost you less than 5% of the cost of a physical library.

3. Time-saving– With an online legal eLibrary, you can save significant time on research. Instead of physically searching through multiple books or journals, you can use the search feature to quickly find relevant information within seconds. This streamlines the research process and increases efficiency. With the help of EBC Reader’s State-of-the-Art and user-friendly tools, one can save an ample amount of time on routine research work.

4. Always up-to-date– Legal information is constantly evolving, with new cases, statutes, and amendments being introduced regularly. Online legal eLibraries ensure that you have access to the most up-to-date legal materials. They are frequently updated, ensuring you have access to the latest legal developments. With the help of EBC Reader’s Auto Updation & Auto Addition feature, your library is always updated.

5. Convenience and accessibility– Online legal eLibraries are accessible anytime, anywhere, as long as you have an internet connection. Whether you are at the office, at home, or on the go, you can access legal resources on your computer, laptop, or mobile device. This convenience allows for flexible studying and research. EBC Reader’s eLibrary works offline too and enables its users to read the downloaded volumes, Bare Acts, Digests, etc.

6. Advanced search functionalities– EBC Reader eLibrary provides advanced search features that allow you to refine your searches and find precise information. Its Advanced Search feature enables a user to think of a topic they want to search for, and within seconds, they will know where to read about it within books, bare acts, notes, and annotations.

7. Collaborative features– Many online legal eLibraries offer collaborative features, enabling lawyers, researchers, and students to share annotations, comments, and research findings. This fosters collaboration and knowledge-sharing among legal professionals, enhancing the learning experience.

8. Anonymity and confidentiality– Online legal eLibraries provide a level of anonymity and confidentiality. You can conduct research privately without the need to disclose your identity or purpose. This can be particularly beneficial when conducting sensitive research or working on confidential cases.

9. Cross-referencing and citation management– Online legal eLibraries often include cross-referencing features that allow you to navigate between related materials easily. Additionally, they often provide citation management tools, making citing legal resources in your research papers, articles, or court filings easier. Just like EBC Reader’s eBooks are cross-linked with the SCC Online*.

*Subscription of SCC Online is required separately

10. Future is online– Digital devices have made our life better. Everything is moving from physical or offline to the screens of our devices. We are ordering food to household items online, and even now we are studying online. That’s why the EBC group launched EBC Reader, the most advanced legal eLibrary to deliver their users a 24×7 service all across the globe.

_{No Credit Card is required}

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Intellectual property rights (IPRs) refer to the legal protections granted to the creators of original works of the mind. These works can include inventions, literary and artistic works, symbols, names, and images used in commerce. IPRs aim to promote innovation and creativity by providing creators with exclusive rights to their works, enabling them to monetize their creations and protect their ideas from unauthorized use by others.

Types of Intellectual Property Rights
There are several types of IPRs, each designed to protect different kinds of intellectual property. The main types of IPRs are as follows:

1. Patents – A patent is a legal protection granted to inventors that gives them exclusive rights to their invention for a certain period of time. Patents can be granted for processes, machines, compositions of matter, and other useful items.
2. Trademarks – A trademark is a symbol, design, word, or phrase that identifies and distinguishes the source of goods or services of one company from those of another. Trademarks can be registered to protect the owner’s exclusive right to use the mark.
3. Copyrights – Copyrights protect original works of authorship, such as books, music, artwork, and software. Copyright protection grants the owner exclusive rights to reproduce, distribute, and display their work.
4. Trade Secrets – A trade secret is any confidential information that provides a competitive advantage to a business. Trade secrets can include formulas, processes, designs, or any other information that is not generally known to the public.

Importance of Intellectual Property Rights
IPRs are crucial for promoting innovation, creativity, and economic growth. They encourage creators to invest time, resources, and effort into creating new products and ideas, knowing that they will have the legal protection necessary to monetize and protect their creations. IPRs also benefit society by providing incentives for companies to invest in research and development, leading to new technologies and advancements that improve people’s lives.
Another important aspect of IPRs is that they promote fair competition in the marketplace. By granting exclusive rights to creators and owners of intellectual property, Intellectual Property Rights help prevent others from unfairly copying or using their ideas and creations, ensuring that they receive the financial rewards they deserve.

Challenges in Intellectual Property Rights
Despite their importance, IPRs also face several challenges. One of the most significant challenges is the issue of piracy and counterfeiting. The ease of digital reproduction and distribution has made it easy for individuals and organizations to infringe on the intellectual property rights of others, leading to significant economic losses for creators and owners of intellectual property.
Another challenge is the balance between protecting IPRs and promoting access to information and knowledge. Some argue that strict enforcement of IPRs can stifle innovation and limit the free flow of information, while others argue that lax enforcement can discourage creators from investing in new ideas and products.

Conclusion
In conclusion, intellectual property rights play a critical role in promoting innovation, creativity, and economic growth. They provide creators and owners of intellectual property with the legal protection necessary to monetize and protect their creations, while also promoting fair competition in the marketplace. However, IPRs also face several challenges that must be addressed to ensure that they continue to promote innovation and creativity while also balancing the need for access to information and knowledge.

Intellectual Property Rights involve identifying intangible assets, prioritizing them according to the business needs, and safeguarding and exploiting them. A robust management of the IP portfolio is essential if it has to be exploited to the fullest extent in terms of revenue, reputation, and market share.

The Upskill Diploma in Advanced Intellectual Property Rights Programme by EBC Learning & CII (Confederation of Indian Industry) is designed by professionals to bring a comprehensive understanding of every stage involved in the life cycle of intellectual property.

EBC Learning — CII, Upskill Diploma in Advanced Intellectual Property Rights Programme

The post Intellectual Property Rights: What Every Creator Needs to Know appeared first on EBC.

Section 18 of the Limitation Act provides that-

If, before the expiration of the prescribed period of limitation for a suit or an application in concern of any property or a legal right, a written and signed acknowledgment of liability in concern of such property or right is made, by the party against whom such property or right is claimed, or by any person through whom he derives his title or liability, then a fresh period of limitation starts from the time when the acknowledgment was so signed. As for an updated acknowledgment, oral evidence may be given in this regard. However, subject to the Indian Evidence Act., oral evidence for the content of the written acknowledgment would not be admissible (i.e. except for cases where secondary evidence of a document in form of oral evidence by the person who has himself seen that document, is allowed).

Implications Of Acknowledgment In A Balance Sheet–

Supreme Court earlier in a leading case of Laxmi Pat Surana v. Union Bank of India and Another (2021), pointed at the applicability of section 18 of the Limitation Act to the IBC Proceedings. Recently, an application filed by the State Bank of India, under Section 7 of the Insolvency and Bankruptcy Code, 2016 for initiation of the Corporate Insolvency Resolution Process was rejected on the ground of limitation. However, in an appeal against the said rejection, the Supreme Court in State Bank of India v. Krishidhan Seeds Private Limited, held that provisions of S.18 of the Limitation Act, validly apply to the proceedings under the Insolvency and Bankruptcy Code. An unequivocal acknowledgment in a balance sheet via an entry qua a creditor in concern, without a qualification, caveat, or subjective condition- can be used as evidence and basis for determining whether the period of limitation as for the concerned liability would stand extended, so long as the acknowledgment was within a prescribed period of limitation of three years from the original date of default.

Section 7 of the code provides for filing of an application for initiation of corporate insolvency resolution process against a corporate debtor, before the Adjudicating Authority when a default occurs [Refer to Financial Creditors, Ch. 7 of Insolvency and Bankruptcy Code: Law and Practice (Volume 1) by Akaant Kumar Mittal; 2nd Edition, EBC]. The term ‘default’ can be traced back to section 3(12) of the code as- non-payment of “debt” when the whole or any part or installment of the amount of debt has become due and payable and is not paid by the debtor or the corporate debtor [Refer to Definition Clause, Ch. 3 of Insolvency and Bankruptcy Code: Law and Practice (Volume 1) by Akaant Kumar Mittal; 2^nd Edition, EBC]. On a conjoint reading, it can be framed that any written acknowledgment of such liability (that has been defaulted to) would reflect its effects from Section 18 of the Limitation Act, starting a fresh period of limitation, and it would come to effect every time the principal borrower or the corporate debtor acknowledges his liability, within the period of limitation.

It is pertinent to note that by the virtue of this legal exception, the limitation period in itself is not extended or enlarged rather a new period of limitation begins to run from the date of the acknowledgment made and the acknowledgment has to be made before the limitation period already running, against the cause of action, extinguishes. The legislative intent behind the fresh period of limitation being that acknowledgment by the person liable himself acknowledges a cause of action in itself and hence bar of limitation should not bar such a cause. The limitation period starts anew but the old cause of action remains in itself and the acknowledgment is rather for its sustenance.

So, an entry in the balance sheet that can be read as an absolute written acknowledgment of the liability in question would attract the benefit of S. 18 of the Limitation Act for proceedings under the Insolvency and Bankruptcy Code, by the virtue of the Limitation Act’s valid application to the Code.

For further references and detailed know-how of IBC, refer to Insolvency and Bankruptcy Code: Law and Practice (In 2 Volumes) by Akaant Kumar Mittal. A crisp, well-researched, and thoroughly updated compendium of the ever-evolving law of The Insolvency and Bankruptcy Code, along with updated case laws and amendments.

The post Insolvency & Bankruptcy Proceedings & Acknowledgment Of Liability appeared first on EBC.