JAWAHARLAL NEHRU TECHNOLOGICAL UNIVERSITY HYDERABAD

Course Objectives:

• To educate on the Legal and Regulatory Framework for doing business in India.
• To elucidate various aspects in Law of Contract.
• To explain about Negotiable Instruments and RBI guidelines on Digital Transactions.
• To enlighten students the significance of Monetary, Fiscal Policy, Union Budget.
• To impart knowledge of different Business Regulations and Environmental Laws.

Course Outcomes

Students will be able to:

• Understand the Business Laws related to Incorporation of a company.
• Learn the Law of Contract & Sale of Goods
• Learn the salient features of Negotiable Instruments Act 1881
• Learn the Reforms Undertaken by the Government with respect to the challenging business environments.
• Gain insights of the Regulatory Framework in India.

UNIT - I: Introduction

Companies Act, 2013, Steps and Procedure for Incorporation of a Company,

Appointment of Directors, Powers, Duties, & Liabilities of Directors, Role of Audit and Auditors, Change of Auditors, Related Party Transactions, Company Meetings, Resolutions, Winding-up of a Company.

UNIT - II: Law of Contract

Nature and Types of Contract and Essential Elements of Valid Contract,

Offer and Acceptance, Consideration, Capacity to Contract and Free Consent, Legality of Object. Unlawful and illegal Agreements, Contingent Contracts, Performance and Discharge of Contracts, Remedies for Breach of Contract. Contracts-II: Indemnity and Guarantee, Contract of Agency, Sale of Goods Act-1930: General Principles, Conditions & Warranties, Performance of Contract of Sale, Auction Sale and E-Auctions.

UNIT - III: Negotiable Instruments Act - 1881

Negotiable Instruments, Promissory Note, Bills of

Exchange, & Cheque, Parties to Negotiable Instruments, Types of Endorsements, Holder, Holder in Due-course, Dishonor and Discharge of Negotiable Instruments, Offences by the Companies, Amendments, RBI Guidelines on Digital Transactions.

UNIT - IV: Business Environment

Industrial Policy, Five Year Planning, Foreign Direct Investment

(FDI), Fiscal Policy, Latest Union Budget, Reforms Undertaken by the Government, Monetary Policy, Banking Sector Reforms, NITI Aayog, Responsibilities and Functions.

UNIT - V: Business Regulations and Environment Laws

• a) Consumer Protection Act 2019, Information Technology Act 2000, Cyber Security Competition Act 2002, Intellectual Property Rights.
• b) Environmental Law: Water, Air Pollution, Green Tribunal in Protecting Environment, Sustainability Reporting Practices.

Suggested Readings:

• Rajdeep Banerjee, Joyeeta Banerjee, Legal Aspects of Business, Sage Publications, 1e,2022.
• Francis Cherunilam, Business Environment Text & Cases, Himalaya Publications, 13e, 2022.
• Ravinder Kumar, Legal Aspects of Business, Cengage Learning, 5e, 2021.
• Francis Cherunilam, Business Environment Text & Cases, Himalaya Publications, 13e, 2022.
• Akhileshwar Patha, Legal Aspects of Business, TMH, 7e, 2019.
• MC Kuchhal, Vivek Kuchhal, Business Legislation for Management, Vikas, Publishing House, 5e, 2018.  8 MBA SEMESTER - I