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What are Derivatives?

The term Derivatives in its literal sense indicates that it has no independent value, i.e., its value is entirely "derived" from the value of the underlying asset. The underlying asset can be securities, commodities, bullion, currency, live stock or anything else.  In other words, Derivative means a forward, future option or any other hybrid contract of pre determined fixed duration, linked for the purpose of contract fulfillment to the value of a specified real or financial asset or to an index of securities.  Derivatives have been associated with a number of high-profile corporate events that roiled the global financial markets over the past two decades. To some critics, derivatives have played an important role in the near collapses or bankruptcies of Barings Bank in 1995, Long-term Capital Management in 1998, Enron in 2001, Lehman Brothers in and American International Group (AIG) in 2008. Warren Buffet even viewed derivatives as time bombs for the economic system and c

BIGAMY UNDER SEC-17 OF HINDU MARRIAGE ACT,1955 & SEC-494 OF NDIAN PENAL CODE,1860

INTRODUCTION There was NO bar in customary Hindu Law to a man entering into second marriage. However, the customary law was codified by the enactment of the Hindu Marriage Act in 1956, which declared second marriage as ‘void' during the subsistence of the first one. So, AFTER 1956, second marriages would be considered illegal. Bigamy is both an offence against Marriage ( as Per hindu marriage act,1955) as well as a Penal Offence ( under IPC ). The Hindu Marriage Act applies to Hindus, Jains, Buddhists ,Sikhs,Parsis,Christians [except Muslims]. Bigamy is one of the ground to seek divorce under Hindu Marriage Act,1955.The second wife is entitlement for maintenance ,she is not entitle for property  rights. In August 2009, the Law Commission of India  recommended that  bigamy should be made  a cognizable offence. Section 17  of The Hindu Marriage Act, 1955 states that: "Any marriage between two Hindus solemnized after the commencement of this Act is void if at

Acknowledgement of Paternity under Muslim Law

INTRODUCTION Paternity, How Established :   The paternity, a relation of child and his father, cannot be established by fact. It can only be established by marriage with the mother of the child. The marriage may be either valid or irregular but it must not be void. Maternity is fact whereas paternity is a presumption. If paternity is established the child is to be legitimate. An illegitimate child has only maternity and no paternity under Sunni Law on the other hand such child has neither paternity nor maternity under Shia Law. Legitimacy :   A child to be known as legitimate must be the result of lawful wedlock. Muslim Law insist on the existence of a valid marriage between the begetter and the bearer of the child at the time of its conception. The main point in the case of legitimacy of a child is marriage between its parents. The Privy Council held in the case of Habibur Rahman Chowdhari v Altaf Ali Chowdhari, (1921) 48 IA 44 . A son to be legitimate must be the of

COMMENCEMENT OF CRIMINAL PROCEEDINGS & CONCEPTION OF FAIR TRIAL IN INDIA

Criminal Procedure INTRODUCTION In medieval India, after  Muslim conquest, the ‘Mohammedan criminal law’ came into force, after this, The British passed the ‘Regulating Act of 1773’ which led to the establishment of Supreme courts in three presidency towns of Calcutta, Bombay and Madras. The effect of the statute was to apply British procedural law while deciding upon the cases of Crown’s subjects. After 1857 Revolt, the crown took over the Indian administration. The British parliament passed the Criminal Procedure Code, 1861, which continued till post-Independence era and It was amended in 1969. It was finally replaced in 1972. The Code of Criminal Procedure Code,1973    (Act No. 2 of 1974)  is the main legislation on the procedure for administration on substantive criminal law in India   which includes  machinery for the investigation of crime, apprehension of suspected criminals, collection of evidence, determination of guilt or innocence of the accused person and