ECONOMIC & COMMERCIAL LAWS

VG Study Hub Practice Paper – ECL CS Sanjeev Sapra

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Important Topics & Practice Paper For

Students Appearing In CS-EXE AUGUST - 2021 Exams

1. Define/short note -

(a) Foreign Exchange

(b) Capital account and current account transactions

(c) Foreign Security

(d) Person Resident in India and Person of Indian origin

2. Explain the provisions for the Current and Capital account transactions.(Section - 3 to 9 )

(a) Prohibition on person to deal, transfer, make payment or financial transaction in foreign

exchange (Section – 3)

(b) Prohibition on drawl of foreign exchange for transactions by individuals. (Rule 3 & schedule I)

(c) Transactions for which Prior approval of the Government of India and RBI required.

(Rule 3 & 4, Schedule II & III)

(d) Remittances by persons other than individuals which require prior approval of RBI.

(e) The meaning and procedure for drawl or remit of any foreign exchange under Liberalized

Remittance Scheme.

(f) Permissible capital account transactions and conditions for it.

FDI

1. What is Objectives of FDI policy?

2. In which sectors FDI is allowed and prohibited?

3. Which are the conditions of FDI in following sectors?

E-commerce activities

Insurance

4. What are the reporting requirements for of issue and transfer of shares? What is the role of

company secretary in certification of documents in it?

ECONOMIC & COMMERCIAL LAWS (Old Syllabus)

FEMA


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5. Explain the provisions for purchase or sale of equity instruments of an Indian company by a

person resident outside India under Foreign Exchange Management (non-debt instruments)

rules, 2019.

6. Discuss significance of direct investment outside India. What are the route available and method

of funding for such investments?

7. Explain the provisions for establishment of branch office/ liaison office / project office or any other

place of business in India.

8. Explain, export of goods and services outside India with and without declaration.

9. What is time limit for realization and surrender of foreign exchange?

10. Define Authorised person? Briefly discuss the powers of RBI to give directions to Authorised

persons?

11. What are the Powers of RBI to compound contravention?

Foreign Contribution (Regulation) Act, 2010

1. Write short note on

a. foreign contribution,

b. foreign hospitality

c. foreign source

d. organization of a political nature

2. State the persons, organizations can receive and are prohibited from recieving foreign

contribution from foreign source?

3. Powers of the Central Government to prohibit receipt of foreign contribution under the Foreign

Contribution (Regulation) Act, 2010.

4. What are the restrictions on utilization of foreign contribution?

Foreign Trade Policy

1. What are the objectives of foreign trade policy?

2. State the general provisions regarding imports and exports.

3. Explain Importer-Exporter Code (IEC) Number and procedure for application for Grant of IEC

Number.

4. Which are the mandatory documents for export/import of goods from/into India?

5. Distinguish between Merchandise Exports from India Scheme (MEIS) and Service Exports from

India Scheme (SEIS).


(a) Towns of Export Excellence (TEE) (b) Board of Trade (c) Status holder


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Special Economic Zones 1. Special Economic Zones are growth engines. Discuss. ? Who can set up SEZs?

2. What are the Duties powers and functions of board of approval?

3. What is the procedure for Setting up of Unit in SEZ?

4. Write short note on:

Offshore Banking Unit

International Financial Services Centre

5. Explain the authorities under SEZ

1. What is competition in the market? Why do we need it?


(a) Monopolistic, Restrictive, unfair trade practice

(b) Cartel

(c) Dominant position

(d) Competition law and policy

3. What are Salient features and objectives of the competition act, 2002?

4. Define and discuss the Relevant Market, Relevant Geographic Market, and Relevant Product

Market.

5. What is an agreement? When agreement declared anti-competitive agreement?

6. Which are the factors to be considered while determining appreciable adverse effect of

agreement?

7. What do you mean by dominance and Dominant undertaking?

8. What are the instances and effect of abuse of dominant position? What orders can be issued by

commission after inquiry into agreements or abuse of dominant position?

9. What are combinations and regulations and limits for making combinations?


(a) Tie-in agreement

(b) Exclusive supply and distribution agreement

(c) Predatory pricing

(d) Refusal to deal

(e) Resale price maintenance

Competition Act, 2002


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11. Explain establishment of CCI and its Composition?

12. Discuss the duties, powers and functions of CCI.

13. What is Jurisdiction of Competition Commission acts taking place outside India but having an

effect on competition in India?

14. Discuss appointment and duties of Director General.

1. Which are the basic rights of consumers that are sought to be promoted and protected?

2. Write a note on the following:

(i) Complaint and Complainant

(ii) Consumer

(iii) Defect in goods and Deficiency in service

(iv) Product manufactures

(v) Product seller

(vi) Unfair trade practice

3. Explain the term Service, Contract of Service and Contract for Service.

4. Explain consumer protection councils under the consumer Act in India.

5. Explain Central consumer protection authority and its functions and powers.

6. Which are the instances when complaint can be made to the authorities and manner in which

complaint shall be made?

7. Explain the manner in which complaint can be made before District commission.

8. What is Limitation Period for Filing of Complaint and when complaint cannot be made?

9. Explain the redressal machinery under the Consumer Protection Act and their jurisdictions.

10. What are the Nature and Scope of Remedies under the Consumer Protection Act?

1. Write note on

(a) Intellectual and Industrial property

(b) General Agreement on Trade In Services (GATS)

(c) World Intellectual Property Organization (WIPO)

(d) Trade Related Aspects of Intellectual Property Rights (TRIPS)

Consumer Protection Act, 2019

Intellectual Property Rights (IPR)


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Patents 1. Which are not inventions or not patentable within the meaning of the Patent Act.

2. Does a Patent obtained in India give protection worldwide? Is it possible to file international

application under Patent Cooperation Treaty (PCT) in India?

3. Is it possible to file international application under Patent Cooperation Treaty (PCT) in India?

4. Discuss the provisions and terms of the Patents Act in relation to compulsory licenses.

5. Write short note on the following:

(i) Invention and Inventive step.

(ii) Patent agent.

(iii) Deceptive Similarity

(iv) Opposition of patent

(v) Restoration of lapsed patent

(vi) Infringement of Patent right

6. Discuss the grounds on which the registration of a patent can be refused?

Trade Mark

1. Which are Prerequisites for a trade mark to be registered?

2. Which are the Grounds for refusal to register trademark.

3. Infringement of trademark.

4. State “Registered user” and “well known trade mark” under the Trade Marks Act, 1999.

5. Trademark is decided by the date of usage of the mark by a person in business transactions.

Comment with decided case of Uniply Industries.

6. Explain the 'Assignment of a trade mark' and 'transmission of a trade mark' under the Trade

Marks Act, 1999.

Copyright

1. Briefly explain the concept of copyright and author.

2. What is Assignment of copyright and Mode of assignment?

3. Discuss in detail the Copyright Board.

4. Discuss compulsory licensing of copy rights.


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Geographical Indication

1. What is meant by „geographical indication‟ in relation to goods under the Geographical Indications

of Goods (Registration and Protection) Act,? What are the benefits of registration under this Act?

2. How a geographical indication is different from a trade mark?

3. Can a registered geographical indication be assigned, transmitted, etc?

Design Act

1. What is meant by „Design‟ under the Designs Act, 2000?

2. What is the object of registration of Designs? and the effect of registration of design?

1. What do you mean by Arbitration and Conciliation?

2. What is meant by alternative dispute resolution (ADR)? Which are the areas in which ADR works

3. Explain arbitration agreement with its form and features.

4. Explain International commercial arbitration.

5. Discuss the provisions regarding appointment of arbitrator under Arbitration and Conciliation Act,

1996.

6. Can the appointment of arbitrator be challenged by parties? If yes than on what grounds and

procedure to be followed by the challenging parties

7. What is an „arbitral award‟ and its form under the Arbitration and Conciliation Act, 1996?

8. Discuss the provisions relating to correction and interpretation of an award under the Arbitration

and Conciliation Act, 1996.

9. What are the grounds for setting aside of an arbitral award under the Arbitration and Conciliation

Act, 1996?

10. Explain provisions composition, term and functions of Arbitration Council of India.

1. What do you mean by „Movable‟ and „immovable property‟ under the Transfer of Property Act,

1882.


(a) Absolute Interest

Arbitration and Conciliation Act, 1996

Transfer Of Property Act, 1882


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(b) Reversion and Remainder

(c) Vested and Contingent Interest

(d) Transfer by ostensible owner or doctrine of holding out

(e) Doctrine of feeding the grant by estoppels

(f) Doctrine of part-performance

(g) Doctrine of Lis pendens.

(h) Spec succession

(i) Doctrine of election

3. What is the subject matter of transfer under the T.P. Act? Discuss properties which cannot be

transferred.

4. Write short notes on the Transfer for benefit of unborn person.

5. What is the rule against perpetuity?

6. State „Actionable claim‟ under the Transfer of Property Act, 1882.

7. Discuss the various types of mortgages

8. What is difference between -

(a) Mortgage and charge

(b) Distinguish „English mortgage' and 'mortgage by conditional sale'.

1. Write short notes on

(a) Conveyance

(b) Instrument

(c) Bill of Exchange

(d) Denoting duty

(e) Bill of lading

(f) Promissory note

(g) E – stamping

2. State the instruments chargeable with duty and Time of stamping of instruments.

3. Are securities dealt in depository not liable to stamp Duty, comment.

4. Which are the people liable to pay duty?

5. Discuss, Instruments not duly stamped its admission, treatment and consequences.

6. What are the modes of cancellation of adhesive stamps?

Law Relating To Stamps


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1. A minor‟s contract is void ab initio, yet he enjoys special status under the Indian Contract Act,

1872. Explain.

2. Consideration is essential part for valid contract. Do you agree?

3. The essence of every agreement is that there ought be free consent on both the sides. Discuss.

4. How does a binding contract differ from other agreements?

5. Write a note on -

(a) „Quasi contract‟.

(b) Privity of contract

(c) Flaw in contracts

(d) Void agreements

(e) Quantum meriut

6. In what modes Contracts may be discharged or terminated?

7. Explain considerations to be taken for contracts under Joint venture/foreign collaboration /

multinational Agreement.

1. Define the term money laundering and explain the process of money laundering.

2. Briefly explain the salient features of Prevention of Money Laundering Act.

3. What influence does money laundering have on society and economic development? Which are

various global initiatives have been taken on the prevention of money laundering and the

enactment of the Prevention of Money Laundering Act, 2002.

4. What is FATF? Discuss the objectives and functions of the Financial Action Task Force (FATF).

5. What are the obligation of Banking Companies, Financial Institutions and Intermediaries?

6. What are the objectives of KYC guidelines and when does KYC norms apply?

7. Explain Attachment, seizure and confiscation of property under PMLA.

Law Relating To Contract

The Prevention of Money-Laundering Act, 2002


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1. Define essential commodity.

2. Explain the Powers of Central Government to control production, supply and distribution etc., of

essential commodities.

3. State the seizure and confiscation of essential commodities under the Essential Commodities Act,

4. A reasonable opportunity is required to be given to the person concerned before confiscation of

his commodities or vehicle, etc., under the Act. Elaborate this statement in the light of provisions

of the Act.

5. Explain Mens rea and culpable mental state with decided case, under Essential Commodities

Act, 1955.

1. Meaning / Definition of Legal Metrology under the Legal Metrology Act, 2009.

2. Power of inspection, seizure under the Legal Metrology Act, 2009.

3. State the provisions and declarations on pre-packaged commodities.

4. Is prior approval and License compulsory prohibition manufacture, repair or sale without license?


Manufacturer

Person

Premises

Counterfeit.

6. What is meant by the International Organisation of Legal Metrology (OIML) certificate system for

measuring instruments?

1. Explain The Procedure For Registration Of Society.

2. State The Status Of A Society Registered Under Societies Registration Act, 1860

3. Define Members And State Their Rights And Liabilities.

4. Provisions For Vesting Of Property Of The Society

Essential Commodities Act, 1955

The Legal Meteorology Act, 2009

Societies Registration Act, 1860


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5. State The Circumstances Under Which A Society Registered Under The Societies Registration

Act, 1860 May Sue A Member Of A Society Treating Him As A „Stranger‟.

6. State the Powers And Duties Of The Registrar Of Societies Under The Societies Registration Act,

1860

7. Dissolution Of Society And Distribution Of Properties.

8. State The Provisions Of The Societies Registration Act, 1860 Relating To „Suits By And Against

Society‟.

1. Define the term „trust‟ under the Indian Trust Act, 1882. How does it differ from a contract?

Explain briefly.

2. What are essentials and certainties of trust.

3. How a trust is created and by whom it is created?

4. Write a short note on the doctrine of cypres relating to trusts.

5. Briefly discuss the provisions relating to rights and duties of trustees.

6. Who is a beneficiary? What are his rights and liabilities?


(i) Extinction of a trust

(ii) Revocation of a trust


(a) Factory

(b) New article

(c) Industrial undertaking

(d) Carry on business license

(e) Industrial license

2. Need and objects of IDRA

3. Role of Central Advisory Council and development council.

4. What is an industrial license? Under what circumstances an industrial license can be revoked?

Law Relating To Trust

Industries Development and Regulation Act (IDRA)


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5. What do you mean by the term “Substantial Expansion”? and License for Effecting Substantial

Expansion.

6. When can Central Government order Investigation into Industrial Undertakings?.

7. What are the „circumstances‟ under which the Central Government can assume management and

control of an industrial undertaking, without investigation into circumstances or notice to the

management? Whether it violates the principle of natural justice? Comment with reference to a

leading case.

8. List out main industries specified in First Schedule of the Act.

The Micro, Small & Medium Enterprises Development Act, 2006

1. The role of micro, small and medium enterprises (MSMEs) in the economic and social

development of the country.

2. Explain Memorandum of micro, small and medium enterprise.

3. Measures for promotion, development and enhancement of competitiveness

4. Delayed payments to micro and small enterprises

5. What do you mean by the day of acceptance and ay of deemed acceptance?

1. Briefly explain the Concept of Sustainable Development.

2. Mention the powers of the central government to protect and improve the quality of environment

under the Environment (Protection) Act, 1986.


(a) Carbon credit

(b) Environmental Audit

4. Briefly explain the objective of Environment Protection Act, 1986?

5. What do you mean by Hazardous Substance under Environment (Protection) Act, 1986? Whether

Electricity is hazardous?

6. Explain no fault liability and compulsory insurance.

7. An enterprise which is engaged in hazardous or inherently dangerous activity and an industry

which poses a potential threat to the health and safety of the persons and of those residing in the

surrounding areas owes an absolute and non-delegatable duty to the community. Comment with

decided case in respect to no fault liability.

Pollution Laws


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8. What National Green Tribunal? What is its composition?

9. Enumerate the powers and functions of National Green Tribunal?

10. Procedure and Powers of Tribunal.

11. Define the term „substantial question relating to environment‟ under the National Green Tribunal

Act, 2010?

12. Briefly explain the constitution of State Air and Water Board.


(i) Air Pollution

(ii) Noise Pollution in Environment.

14. Discuss briefly the restriction on new outlets and new discharges under the Water (Prevention

and Control of Pollution) Act.

15. What are the powers of State Boards in taking samples under pollution laws ?

16. Prohibition on Use of Stream or Well for Disposal of Polluting Matter.

1. Documents whose registration is compulsory and optional.

2. State the time limit for presentation of documents for registration.

3. State the places where documents relating to immovable property may be presented for

registration under the Registration Act, 1908.

4. What do you understand by registration of documents? State the effect of non-registration of

documents required to be registered.

I Will wait for your FEED BACK/INPUTS about this paper after the exam on Ph/wup/Email :

9899064260/[email protected].

Law Relating To Registration Of Documents