NRI Legal Services

ARBITRATION LAW IN INDIA

2010-09-01T00:38:00.000-07:00

Arbitration has established itself as one of the principal methods of dispute resolution over the years. The Law of Arbitration deals with the hearing and determination of a dispute by an impartial person agreed to by both parties the act of deciding as an arbitrator. The process of arbitration is a legal technique for the resolution of disputes outside the courts, wherein the parties to a dispute refer it to one or more persons who are known as arbitrator by whose decision (award) parties agree to be bound and accepts decision formally.
Arbitration is recognised as the most effective method of solving commercial disputes, especially those of an international dimension. It can achieve equitable solutions more quickly than litigation, and at less cost; it allows parties to adopt whatever procedure they choose for the resolution of differences; it enables parties to decide where disputes shall be heard.
As a concept and as a process, arbitration is well embedded in commercial practices and social life. In India Arbitration Law was introduced by Bengal Regulations in 1772.After that The Indian arbitral system was governed by the Code of Civil Procedure 1908 until the Arbitration Act of 1940 came into force and it was later replaced by the Arbitration and Conciliation Act 1996 to consolidate and amend the law relating to domestic arbitration, international commercial arbitration and enforcement of foreign arbitral award as also to define the law relating to conciliation. The Arbitration and conciliation Act 1996 is an effort to modernize the outdated Act, of 1940.
The Act is based on the 1985 UNICITRAL (United Nations Commission on International Trade Law) Model Law on International Commercial Arbitration and the UNCITRAL Arbitration Rules 1976. The Statement of Objects and Reasons of the Act recognises that India's economic reforms will become effective only if the nation's dispute resolution provisions are in tune with international regime.
There are two types of Arbitration:
1. Binding or voluntary Arbitration: In this Process the parties to the Dispute Voluntarily submit there Dispute to a third person i.e. Arbitrator. Whose decision they are ready to accept. In other words in voluntary arbitration, both sides in the dispute voluntarily agree to submit their disagreement to arbitration after it arises and after they have an opportunity to investigate their best options for resolving their claim.

2. Non-binding arbitration or non voluntary Arbitration: Non binding Arbitration which is also known as Compulsory arbitration is one where the parties are required to accept arbitration without any willingness on their part. The arbitrator makes a determination of the rights of the parties to the dispute but this determination is not binding on them. The award given is just an advisory opinion. Subsequent to a non-binding arbitration, it is up to the parties involved; they are free to pursue their claims either via the courts, or by a binding arbitration.
The Indian Arbitration and Conciliation Act, 1996 applies to both domestic arbitration in India and to international arbitration. Domestic Arbitration is defined as an alternative dispute resolution mechanism in which the parties get their disputes settled through the intervention of a third person and without having recourse to the court of law. While, the term 'international commercial arbitration relates to disputes arising out of legal relationships, whether contractual or not, considered as commercial under the law in India and where at least one of the parties is:- (i) an individual who is a national of, or habitually resident in, any country other than India; or (ii) a body corporate which is incorporated in any country other than India; or (iii) a company or an association or a body of individuals whose central management and control is exercised in any country other than India; or (iv) the Government of a foreign country.
The dispute resolution through Arbitration has occupied great significance in India in the recent past though it was successfully practiced in the developed nations like United States etc. Indian authorities have been trying to promote arbitration and other such alternatives for resolving disputes given 31.1 million cases pending in courts. The arbitration proceeding are governed by the agreement signed between the parties to the agreement and the Indian Courts have a very limited role in the arbitration proceedings.
India has put in Place a strong legislation and a sound mechanism relating to arbitration laws. The system of Arbitration has been proved itself as an effective and efficient in itself to provide quick and efficient relief to the aggrieved Parties. Arbitration Process is one of the easiest and efficient modes which is used all over the world as more effective, less expensive and the fastest means of solving disputes between the parties.

Real Estate in India vis-à-vis NRIs

2010-08-25T04:24:00.000-07:00

Investments in India can be done in a number of sectors.The first among them is the real estate sector that has emerged as the hot spot for cogent investors. This is perhaps because this sector is fast growing and non-residents have the option of buying, selling or even renting out their property. Indian Real Estate has made its position very strong in stock markets since last few years. As per growing standards, India has become the fifth largest economy in the world. There are many factors responsible for this tremendous growth & NRI Real Estate Investment is one of them. Due to India’s consistent growing economy, investors are obtaining benefits in the market of real estate.

Role of Government to encourage Investment
Indian government has also played a significant role in growing investments by liberalizing the investment policies. India is the second largest among the coming up nations which has shown potential growth in investments destination for the NRI population. Government has provided special NRI real Estate Quota for various land sales. Special Grants & services are also provided to NRI population in order to attract more & more foreign investments. Indian government’s recent declaration of reforms/relaxations for such stream of investors influences the NRI real estate investment.
Role of real estate companies & Builders in attracting NRI investments
Decision of buying & selling properties in India is a crucial decision. Real estate companies play major role in solving such problems & also contributing in growing the trend of foreign investments by NRIs. These companies provide proper consultation services for buying or selling properties whether it is commercial or residential property. The competition in the real estate sector is at its peak. Following cut throat competition between the companies, the consumer is the main beneficiary as they have got the best features and services at his disposal.
Real estate companies in India have witnessed growth in business in the last few years. Builders also provide assistance to look out the best properties. With growing demands builders are one step ahead and they also involve into business of development. Builders choose land, purchase that land and develop Luxurious villas, residential bungalows and commercial complexes. These residential and commercial properties in India developed by real estate builders provide all kind of facilities which one would have never thought of.
Role of Banks & financial Institutions in increasing investments
Services related to NRI investments are taken separately by leading banks and financial institutions in India. These banks provide most efficient housing loans and other home loan related products. Easy home loan availability by financial institutions in India, NRI remittances & repatriation procedures and easy operability of NRE (Non resident external account), NRO (Non resident ordinary account) & NRCS bank accounts has materialized as the best of all the available prospects for the NRI's looking forward to returning to India.
As per the existing foreign direct investment (“FDI”) policy NRIs and PIOs are allowed to invest directly up to 100% in any Indian company in the housing and real estate sector without any approval. The profits and capital are fully repatriable subject to withholding tax.
NRI investment necessary to shape up India’s future
Less restriction on foreign investments always helps investor sentiment. It is important that investment should not be seen or received as charity. Investment can build a momentum where other investors perhaps even without an emotional connection to an opportunity can see the possibility of a return and join the support for the project. Relationships built on mutual advantage will be stronger that those built on altruism. This is the key to NRI investment shaping India's future.

LEGAL ISSUES OF NRIs

2010-08-25T03:48:00.000-07:00

Bright side of life always has a shade of darkness. There is no doubt that, NRIs have increased multifold in foreign jurisdictions & earning much more than their Indian counterparts but still many NRI’s are facing some common issues which is creating sense of insecurity, complications & hindrances in their lives. At present many of them are confronting through disputes relating to property issues regarding investments in property, illegal occupation of lands/flats/apartments/houses by some crooked & deceitful persons, Transfer of ownership or assigning power of Attorney & on other hand meeting through problems of matrimonial issues. These problems are handicapped for want of proper professional information and advice on Indian laws. The lure of settling in foreign jurisdictions attracts a sizeable Indian population but the problems created by such migration largely remain unresolved.
NRI Property Issues
NRIs property encroachment is a serious issue. Property dispute is one of the most common complaints by NRIs. They are unable to protect their property due to long absences or lack of awareness of laws. The nature of the complaints are mainly over protection of properties that have been forcibly occupied or encroached, disputes relating to division of property or inheritance, and cases where investors have been cheated by real estate developers. Purchasing, selling, and maintaining the property in India need hard and diplomatic efforts. Most of the NRIs wish to invest their money in properties. Finding proper property with correct rates has become a problem. After the purchase, maintaining the property is another hard task.
From time to time real estate prices get huge hike, as a result NRIs are going back home to stake claim to their assets. But they find themselves embroiled in tedious litigation after being duped of their ancestral property or one purchased by remitting money back home. Many cases involving NRIs in property-related disputes are pending in courts. The insecurity among expatriates over their properties is recognized as a major hurdle in attracting NRI investment. The NRIs now see property investments as a risky gamble.
Solution of the problem
The acquisition and transfer of immovable property has financial implications and falls within the ambit of FEMA (Foreign Exchange & management Act). FEMA guidelines permit both Non-Resident Indians (NRIs) and Foreign Nationals of India Origin (PIOs) to enter into property transactions. NRI or PIO is free to acquire any number of properties (residential/commercial) in India, under the general permission granted by the RBI.
Law treats inheritance with more caution. Inheritance of a property in India from a person resident outside India needs specific approval from the RBI and will be permitted only if the bequeather had acquired such property in accordance with the provisions of foreign exchange law at the time of acquisition, or under FEMA regulations.
An NRI is free to transfer his property by way of sale or by way of gift. If he sells it to a Indian resident, the need for prior approval does not arise. An NRI need not get prior approval even if he is selling the property to another NRI. While he can freely acquire residential or commercial property.
Agricultural land, plantation property and farmhouse in India can neither be purchased nor be obtained by way of gift by an NRI or a PIO. It can only be inherited. On the other hand, but NRI can freely sell or gift these properties, but only to someone who is a citizen of India and who stays in India.
NRI Matrimonial issues
The phenomenon of one spouse abandoned by other, of Indian origin is not a new. More and more problems are emerging with NRI marriages. The problem is not just opportunistic NRIs, but also those who put their trust in someone whom they have barely met. The personal gains take priority over any consideration for the long term well-being of the bride/groom. Fault lies with both sides. Actually, the blame lies more on those who get married to someone just because he/she is an NRI.
It is the rural & middle class people that often succumb to the temptation of acquiring foreign bride/groom. At no stage do parents of girl try to enquire about the NRI grooms, their previous marital status, profession, income etc. The parents of girl ignore the formalities like verifying the credentials of the prospective bridegroom or taking the precaution of getting marriage registered & marriages usually take place within a short period of time.
Usually girls & her parents do not seek any legal advice or counseling after desertion. They keep on waiting for compromise or reconciliation. Later on husband refuses to provide any financial or moral support to his wife. This whole process ruins the life of a girl. To overcome these problems following steps should be taken:
Suggestion & Recommendations
The court registration of girl’s marriage with the NRI under Hindu Marriage Act should be made compulsory.
The photograph of NRI groom & his Indian spouse taken jointly should be posted on marriage certificate which should also include details of groom’s passport & country which has issued passport.
Registration of FIR should be made compulsory in desertion cases.
Some steps have been taken by Government to prevent abandoning of NRI spouses:
The Law Commission headed by Justice AR Lakshmanan, in its 219 th report has proposed:-

1) Compulsory registration of marriage where one of the spouses is a NRI.

2) Submission of these Marriage documents to the relevant Embassy in India of the country where NRI resides.

3) Creation of Fast Track courts in India to try NRI matrimonial / succession cases.

4) Uniform law regarding the adoption of Indian children by NRIs and simplification of inter country child adoption procedures.

5) Amendment of the Marriage Laws to provide for maintenance, alimony etc, for Indian brides.
The Ministry of Women and Child Development (WCD) has proposed that women who marry Non-Resident Indians (NRIs) should be issued a second passport, which will remain with the woman’s parents so that they can help her to return in case her first passport is snatched by an abusive husband.
The government needs to bring in a comprehensive regulation to ensure that all the protection accorded by the law to Indian women with regard to marriage, divorce, maintenance, inheritance and custody of children should apply to victims of fraudulent NRI marriages. It is high time; the Government does some practical work and take some strict actions so that no more Indian girls left to curse their fate because of being duped by NRI husbands.

Landlord & Tenant Relationship in India

2010-08-25T03:30:00.000-07:00

Landlord Tenant relationship is very close relation as it is like two sides of a same coin. If landlord is a tail then tenant is the head and vice-versa. Landlord is a person who owns property and allows another person to use it for a fee. The person using the property is called a tenant. Relationship between Landlord & Tenant takes place when the owner actually has title to the property & he consents to occupancy of the premises. Tenant acknowledges that the owner has title to the property and a future interest in the property. Tenant receives a limited right to use the premises. The owner transfers possession and control of the premises to the tenant and a contract to rent exists between the parties. Landlord and tenant relationship also exists even in the absence of a written and signed rental agreement between owner of the property and the person living on property.
Tenancy Agreements in India
In India, there are two types of Tenancy Agreements one is Lease agreements which are covered by Rent Control Laws and Lease and License Agreement which are not. A Lease or Rental Agreement is covered by restrictive Rent Control Laws. The amount of rent that can be charged is based on a formula devised by the local executive, legislative or judicial government, as the case maybe. In India, Landlord & tenancy agreements are governed by various laws enacted by the Central Government of India and respective State governments. One of such law is RENTAL LAWS. These laws govern the rental of commercial and residential property and are necessary to enforce individual civil rights of both landlord and tenant and prevention of any kind of deceit.
The basis of the legal relationship between a landlord and tenant is grounded in both contract and property law. The tenant has a property interest in the land for a given period of time. If the tenancy is long term or periodic, the tenant has the right to possess the land, restrict others (including the landlord) from entering upon it and sublease or assign the property. The landlord–tenant agreement may eliminate or limit these rights. The landlord–tenant agreement is normally embodied in a lease. The lease, though not historically or strictly a contract, may be subject to concepts embodied in contract law.
Duties of Landlord & Tenant under Law
The role of a landlord does not end with letting out his premises to his tenant. It is expected of him that he shall perform duties that are moral or legal in nature. There are several reciprocal duties between landlords and tenants. A landlord must keep the premises in good repair, but the tenant must not damage the premises. The tenant must leave the premises in their original condition, accounting for reasonable wear and tear, or risk losing the security deposit. Now what is security deposit? A security deposit is money deposited by the tenant with the landlord to guarantee the tenant's performance under the lease. If the tenant damages the premises, the landlord may keep the security deposit and sue the tenant for damages not covered by the deposit.
The landlord law invokes the duty to maintain the property in a reasonably safe condition in view of all the circumstances. In addition to this, state or local landlord tenant law sets the requirements for evicting a tenant, which may occur for only a limited number of reasons before the tenancy expires. A landlord must give a tenant notice to vacate the premises if the landlord wishes to rent the premises to another tenant. If the lease period expires and the landlord has not found a new tenant and has not issued a new lease to the present tenant, the present tenant may be allowed to stay on the premises.
Need to revise Land lord & Tenant Laws
The rental laws in India need to be revised to protect the owner and his/her property from the tenant. There were days when Courts in India had to consistently deal with issues where protection of tenants was of pivotal importance and the need of the hour. At that time, Landlords were a strong lobby to reckon with and the tenants were left at their mercy, exploited and always threatened with eviction. This caused the Legislature to intervene and the enact law to protect the tenants.

Things have changed now, especially with the increase in property rents and the buying power of individuals. While the rentals started hitting dizzy heights, tenants occupying prime properties since years, continued paying mere pennies for occupying these virtual gold mines, under protection from enactments that were brought into force for an altogether different need.

The Courts have always tried to strike a balance looking into reasonableness, hardship caused and market conditions to resolve dispute in this never-ending tussle between landlords and tenants. If these laws are enacted and strictly enforced, there is every chance that more investors will want to enter the real estate market to utilize the rental fees as income. This is especially true for the commercial sector.

Registration of Marriage

2010-05-06T22:57:00.000-07:00

Marriages in case of Hindu’s are governed by the Hindu Marriage Act, 1955. As per section 8 of the Hindu Marriage Act, registration of marriage is an optional step. Omission to get a marriage registered has no effect on the validity of the marriage. However it is highly recommended that a marriage be registered at the earliest.

Advantages of Registration of Marriage:
a) Certificate of marriage is a document, which provides valuable evidence/proof of marriage;
b) Certificate of marriage is very important in case of immigration or getting the visa for the wife/husband.
c) It will be helpful in claiming the Bank deposits or Life Insurance benefits when the depositee or the Insurer dies without a nomination or otherwise.

Condition for a Hindu Marriage: A marriage may be solemnized between any two Hindus, if the following conditions are fulfilled, namely:
a) Neither party should have a spouse living at the time of the marriage;
b) Both Parties should be of sound mind and capable of giving valid consent.
c) The bridegroom must have completed the age of twenty one years and the bride the age of eighteen years at the time of the marriage;
d) The parties should not be within the degrees of prohibited relationship.

Where is the Marriage Registered?
Marriages under Hindu Marriage Act can be registered in the office of the Registrar of Marriage within the jurisdiction of which the marriage has taken place or in the office of Marriage Officer in whose jurisdiction the bride or bride-groom resides. In most places the Sub Registrar who registers documents relating to immovable property is also the Marriage Officer.

Procedure for Registration of Marriage:
a) Application for marriage filled in prescribed form with name and address of bridegroom and bride, signature of bride and bridegroom, signature of 3 attesting witness present at the time of marriage along with their name and address, joint photo of bride and bridegroom with signature over such photo should be presented to the Registrar of Marriage.
b) Marriage officer will verify the contents of the application and records. He will issue certificate of marriage if he is satisfied that the records produced are in accordance with law.

Objections and Appeal:
If the conditions specified under the Hindu Marriage Act are not fulfilled the marriage officer may refuse the registration of the marriage. Appeal may be submitted to District judge within 30 days of such refusal.

ACQUISITION AND TRANSFER OF IMMOVABLE PROPERTY IN INDIA BY NRI

2010-04-21T23:33:00.000-07:00

Acquisition and Transfer of Immovable Property in India
A person resident outside India who is a citizen of India (NRI) can by way of purchase, any immovable property in India other than agricultural land/plantation property/farm house. He can transfer any immovable property other than agricultural or plantation property or farm house to:
a) A person resident outside India who is a citizen of India or
b) A person of Indian origin resident outside India or
c) A person resident in India.

He may transfer agricultural land/ plantation property / farm house acquired by way of inheritance, only to Indian citizens permanently residing in India. Payment for acquisition of property can be made out of:
a) Funds received in India through normal banking channels by way of inward remittance from any place of India or
b) Funds held in any non-resident account maintained in accordance with the provisions of the Foreign Exchange Management Act, 1999 and the regulations made by Reserve Bank of India from time to time.

A person resident outside India who is a person of Indian Origin (PIO) can acquire any immovable property in India other than agricultural land / farm house / plantation property:-
a) By way of purchase out of funds received by way of inward remittance through normal banking channels or by debit to his NRE/NRO account.
b) By way of gift from a person resident in India or a NRI or a PIO. By way of inheritance from any a person resident in India or a person resident outside India who had acquired such property in accordance with the provisions of the foreign exchange law in force or FEMA regulations at the time of acquisition of the property.
A PIO may transfer any immoveable property other than agricultural land / Plantation property / farm house in India
a) By way of sale to a person resident in India.
b) By way of gift to a person resident in India or a Non resident Indian or a PIO.

A PIO may transfer agricultural land / Plantation property / farm house in India by way of sale or gift to person resident in India who is a citizen of India.

Repatriation of sale proceeds
In the event of sale of immovable property other than agricultural land / farm house / plantation property in India by NRI / PIO, the authorized dealer will allow repatriation of sale proceeds outside India provided;
a) The immovable property was acquired by the seller in accordance with the provisions of the foreign exchange law in force at the time of acquisition by him or the provisions of FEMA Regulations;
b) The amount to be repatriated does not exceed (i) the amount paid for acquisition of the immovable property in foreign exchange received through normal banking channels or out of fund held in Foreign currency Non-Resident Account or (ii) the foreign currency equivalent as on the date of payment, of the amount paid where such payment was made from the funds held in Non-Resident External account for acquisition of the property.
c) In the case of residential property, the repatriation of sale proceeds is restricted to not more than two such properties. In the case of sale of immovable property purchased out of Rupee funds, Ads may allow the facility of repatriation of funds out of balances held by NRIs/PIO in their Non-resident Rupee (NRO) accounts upto US$ 1 million per financial year subject to production of undertaking by remitter and a certificate from the Chartered Accountant in the formats prescribed by the CBDT.

Electronic discovery

2010-02-22T22:19:00.000-08:00

Electronic discovery (or e-discovery) refers to refers to any process in which the electronic data is sought, located, secured, and searched with the intent of using it as evidence in a civil or criminal legal case. In other words we can also describe it as dealing with information in Electronic formats or Electronically Stored Information (ESI).
Huge information of e-discovery relates to Electronic information that are created, exchanged and stored every day among individuals and comprises of various types of files including word, excel, PDF, spreadsheets, presentations and many more. E-discovery is different from paper information because of its intangible form, volume, transience and persistence. Also, electronic information is usually accompanied by metadata, which is not present in paper documents. However, paper documents can be scanned into electronic format and then manually coded with metadata. The preservation of metadata from electronic documents creates special challenges to prevent spoliation. Meta data is sometimes relevant and play an important part as evidence in litigation.
It is very important to take care while carrying out any e-discovery for any organization, one should keep in mind that the information collected should not lose its originality. Before any step is taken to collect the data from any computer, laptop one should understand the structure of information stored in the company for which he should get help from the system administrator of the company or the person responsible for storage of data. One should not forget that any wrong step taken in collecting the data might change the information (Metadata) of the documents which sometimes play a major role as evidence in the case.
Although converting documents to static image formats (tiff & jpeg) had become the standard document review method for almost two decades, native format review has increased in popularity as a method for document review since around 2004. Because it requires the review of documents in their original file formats, applications and toolkits capable of opening multiple file formats have also become popular. This is also true in the ECM (Electronic Content Management) storage markets which are converging quickly with ESI technologies.
The conversion of native files into an image format that does not require use of the native applications. This is useful in the redaction of privileged or sensitive information, since redaction tools for images are traditionally more mature, and easier to apply on uniform image types. Efforts to redact similarly petrified PDF files have resulted in the removal of redacted layers and exposure of redacted information, such as social security numbers and other private information (needs citation).
Traditionally, electronic discovery vendors had been contracted to convert native files into TIFF images (for example 10 images for a 10 page Microsoft Word document) with a load file for use in image-based discovery review database applications. Increasingly, database review applications have embedded native file viewers with tiff-capabilities. With both native and image file capabilities, it could either increase or decrease the total necessary storage, since there may be multiple formats and files associated with each individual native file. Deployment, storage and best practices are becoming especially critical and necessary to maintain cost-effective strategies.

Domestic Violence

2010-02-21T21:23:00.000-08:00

Domestic Violence can be described as when one adult in a relationship misuses power to control another. It is the establishment of control and fear in a relationship through violence and other forms of abuse. The violence may involve physical abuse, sexual assault and threats. Sometimes it’s more subtle, like making someone feel worthless, not letting them have any money, or not allowing them to leave the home.

Domestic Violence isn't just hitting, or fighting, or an occasional argument. It's an abuse of power. The abuser tortures and controls the victim by calculated threats, intimidation, and physical violence. . Although both men and women can be abused, in most cases, the victims are women. Many women in India are the victims of domestic abuse. Domestic violence is a CRIME and you must seek help.

Form of domestic violence
Domestic violence can take many forms. Domestic violence can be Psychological Abuse, Social Abuse, Financial Abuse, Physical Assault or Sexual Assault. Violence can be criminal and includes physical assault or injury (hitting, beating, shoving, etc.), sexual abuse (forced sexual activity), or stalking.

Common Forms of violence against Indian women include:
Female feticide, Domestic violence, Dowry death or harassment, Mental and physical torture, Sexual trafficking, and Public humiliation.

The Government taking into consideration the increase of domestic violence especially in matrimonial cases has made special provisions to protect women in such relationships from their abusive husbands and in-laws.
One such law is Section 498-A of the Indian Penal Code which has been specifically drafter for protection of married women from their husbands.
498-A, Husband or relative of husband of a woman subjecting her to cruelty: Whoever, being the husband or the relative of the husband of a woman, subjects such woman to cruelty shall be punished with imprisonment for a term which may extend to three years and shall also be liable to fine.

Furthermore the term cruelty has been explained and in pretext of this section includes any willful conduct which is likely to drive women to commit suicide or coarse grave injury or danger to life. It also includes harassment of woman with a view to coerce her or any person related to her to meet any unlawful demand for property or valuable security.

The courts in various cases have held the following to amount to cruelty:
• Persistent denial of food,
• Insisting on perverse sexual conduct,
• Constantly locking a woman out of the house,
• Denying the woman access to children, thereby causing mental torture,
• Physical violence,
• Taunting, demoralizing and putting down the woman with the intention of causing mental torture,
• Confining the woman at home and not allowing her normal social intercourse,
• Abusing children in their mother's presence with the intention of causing her mental torture,
• Denying the paternity of the children with the intention of inflicting mental pain upon the mother, and
• Threatening divorce unless dowry is given.

The Government has also passed the Domestic Violence Act, 2005. Under this act married women have been provided two important rights.
Right to stay in the matrimonial home: The matrimonial home is the household a woman shares with her husband; whether it is rented, officially provided, or owned by the husband or his relatives. A woman has the right to remain in the matrimonial home along with her husband as long as she is married. If a woman is being pressurized to leave the matrimonial home, she can ask the Court for an injunction or "restraining order" protecting her from being thrown out. This can usually be obtained quite easily. It is generally advisable not to leave the matrimonial home; it is easier to get a court order preventing a woman being thrown out than to get an order enforcing her right to return to it once she has left or been thrown out.

Right to obtain a protection order: Women under this act have a right to approach the court and obtain an injunction from the court, restraining the opposite party from:
(a) Committing any act of domestic violence;
(b) Aiding or abetting in the commission of acts of domestic violence;
(c) Entering the place of employment of the aggrieved person or;
(d) Attempting to communicate in any form, whatsoever, with the aggrieved person, including personal, oral or written or electronic or telephonic contact;

DEATH PENALTY- GOOD OR BAD

2010-02-16T23:54:00.000-08:00

Death penalty is a punishment which is imposed by judicial process if a person is found guilty of serious offense. The death penalty is also legally referred to as capital punishment. The terms “death penalty” and “capital punishment” are frequently used to mean the same thing. In death penalty the person who has committed an offense is punished, and the punishment is death of the person who has committed the crime. There are different forms of death namely electrocution, lethal gas, lethal injection, firing squad, hanging and lethal injection. In short it is an act of executing or killing a person. Death penalty is considered to be a severe punishment.
Pros of for death penalty
1. Any person who has committed any type of crime like raping or killing another person should be punished with death penalty. Death penalty definitely serves as a deterrent for those who may consider committing a crime. Death penalty takes the life of person so other person may be refrained from committing crime due to fear of losing life. Thus, the number of crimes in society automatically reduces.

2. Death penalty perfectly fits for those criminals who have committed offense and serves as an example for those who consider committing any offence.

3. If a person is put in prison there are more chances that the criminal may escape and commit same or any other crime. Death penalty ends the life of person so there is no chance at all that the criminal may commit the crime again. Thus, society becomes better and safe place to live. It works best for serial killers as well as for those who continue to commit crime even after serving imprisonment.

4. Instead of life imprisonment, death penalty is better option as the convicted does not have to live a futile life behind bars. Moreover, imprisonment is more expensive than death penalty. It is better to kill the convicted rather than spending on him.
Cons of for death penalty
1. If a person is executed there remains no difference between us and the criminal, as both commit horrifying act of killing another human being.

2. Sometimes as poor people cannot hire efficient lawyers to defend their case in right manner face death penalty.

3. Every person committing any sort of mistake should be at least given second chance to improve. It has been reported that many criminals who have been served with life sentence to have showed drastic improvement and have contributed to society. But again it all depends upon every individual.

4. There is no relation between crime rate and capital punishment. Crimes are prevalent even in those countries where capital punishment exists.

Conclusion
The debate whether death punishment is ethical and justifiable is still widely disputed and does not have a definite answer. Today, there are many pros and cons to this death penalty issues. People have different opinions on the issue of capital punishment given to a convict. While some think that death penalty is must for those who have committed a dreadful crime, there are others who consider it as an immoral act that goes against humanity. However, if people weigh the arguments properly, and have empathy for the victims, they will be more inclined to favor death penalty. Whether to give capital punishment to a criminal or not, depends on his previous criminal records and the seriousness of the crime he has committed.

Guidelines for marriage Registration in India

2010-02-11T01:27:00.000-08:00

Marriage is considered as a religious and auspicious ceremony in India. Being a signatory to the convention adopted by U.N. General Assembly in 1979 on Elimination of All forms of Discrimination against Women, India, while keeping in view the variety in customs and level of literacy agreed to the fact that compulsory registration of marriages was highly desirable. Many states such as Andhra Pradesh, Himachal Pradesh, Karnataka and Gujarat provide for compulsory registration of marriages for all. There are different rules and regulations for different religions. For example there are Hindu Marriage Act, Muslim Marriage Act, and Christian Marriage Act etc. Registration serves as crucial evidence in the matters of custody and rights of children born from the wedlock of the two persons whose marriage is registered.
The Purpose of compulsory registration is to benefit the society, especially women i.e.
1. To keep a check on prevention of child marriage.
2. To prevent marriages without consent of the parties.
3. To check illegal bigamy or polygamy.
4. To enable married women to claim their right to live in the matrimonial house and widows to claim their inheritance rights and other benefits and privileges.
5. To deter men from deserting women after marriage and deter parents/ guardians from selling daughters/ young girls to any person including a foreigner in pretext of marriage.

Under Hindu Marriage Act, 1955, the bridegroom should be the age of 21 years and bride of 18 years. Registration under this act requires a number of documents to be furnished. Such documents must be attested by a Gazetted Officer and all the documents are verified on the date of application. After that, a day is fixed and communicated to the parties for registration. On the day so fixed, both parties along with a Gazetted Officer who attended their marriage meet the SDM. Generally, the marriage certificate is issued on the same day or within a few days.

These documents are:
1. Application form: Duly signed by both husband and wife.
2. Matriculation Certificate / Passport / Birth Certificate to ascertain the date of birth.
3. Ration card of either whose area SDM has been approached for the certificate.
4. Affidavit stating place and date of marriage, date of birth, marital status at the time of marriage and nationality.
5. Two passport size photographs of both and one marriage photograph.
6. Marriage invitation card, if available and if marriage was solemnized in a religious place, a certificate from the priest who solemnized the marriage.
7. Affirmation that the parties are not related to each other within the prohibited degree of relationship as per Hindu Marriage Act or Special Marriage Act.
8. In case of a divorcee, attested copy of divorce decree/order and in case of widow/widower, death certificate of spouse.
9. Conversion certificate from the priest, solemnizing marriage if one of the parties belongs to other than Hindu, Buddhist, Jain and Sikh religions.

Under Indian Special Marriage Act of 1954, in case a marriage between an Indian and a foreign national is to take place in India, generally “Marriage Notice” is required to be filed with the registrar. This notice can be submitted only in India. The partner who is resident in India will fill notice and send it to his/her partner in the foreign country. After being filed by foreign partner and once sent back in India, this notice should be re-submitted at the Marriage Registration Office. The notice should be published for the stipulated 30 days. After the completion of such period, the registrar is free to perform such marriage. Documents required are:-
1. Valid passport.
2. Original Birth Certificate showing names of parents.
Under Indian Christian Marriage Act, 1972 the relevant entries are made in the marriage register of the concerned church soon after the marriages and the signatures are of bride and the bridegroom, the official priest and the witnesses are taken.

BASIC PATENT LAW

2010-02-11T01:23:00.000-08:00

Patent law has been formulated with an objective to promote and protect inventions and methods. A Patent can be granted for an invention which may be related to any process or product. The word “invention” has been defined under Patent Act 1970. The Indian Patent’s Act 1970 provides patent protection in India
The object of Patent Law is to encourage research, new inventions, new technology
and Industrial process.
A Patent provides an Inventor/owner with exclusive rights to an invention for a limited period of time. Many people have the misconception that a patent gives the inventor right to make, use, and sell the invention which is actually wrong. A patent provides the right to exclude others from making, using and selling the invention. A patent includes the written description of the invention.
To be Patentable, Invention should fall within the scope of patentable subject matter, the invention must relate to machine, article, substance produced by the manufacturer. The invention must relate to a machine, article, substance produced by the manufacturer, if any machine, article, substance falls outside the scope of patentable subject matter it cannot be patentable. You can patent any useful and new process. One must inquire as to whether the invention is new, as long as the invention is new and different it is open for patent. Ideally, a patent application should be filed before making any disclosures about your invention.

There is certain procedural requirement that needs to be fulfilled before filing for a patent:-
• An application for a patent in prescribed form along with the fee has to be filed in the appropriate patent office.
• Application is scrutinized.
• After examining the application, patent office will raise objections.
• After acceptance patent is put in official gazette

A patent gives the patentee exclusive right to make or use the patented article. The patentee can assign or grant licenses. An application can be filed by the first and true inventor; it can also be filed by the assignee or legal representative of the inventor
A patent application is assigned to the patent examiner working in the field of invention. An application for a patent in the prescribed form along with the prescribed fee has to be filed in the appropriate patent office. Examiners of patents scrutinize the application accompanied by a specification so that it satisfies the requirements. After examination, the Patent Office will raise objections and once the applicant convinces the Controller of Patents will put the specification in the Official Gazette and on its acceptance without any controversy; a patent shall be granted.A patent application will be published on expiry of eighteen months after the priority date. It can be published earlier, if such a request is made by the applicant. The application will not be published if directions are given for secrecy, until the term of those directions expires. It will also not be published if the application is withdrawn three months before publication date.
A Patent can be granted to the manufacturer if he complies with the application and satisfy all the requirements in the application form.

Getting the inventions patented is an extremely important consideration now a days and every inventor must protect his rights by getting himself acquainted with the patent law and putting it to use for his benefit.

Trademark

2010-02-11T01:18:00.000-08:00

Intellectual Property basically refers to creations of mind. It can be inventions, artistic and literary work, names, symbols, logo, designs as well as images used commercially. Common types of intellectual property include trademarks, copyrights, patents, industrial design rights and geographic indications.
A trademark is a distinctive sign/mark or indicator which is used to identify a particular product or service so that it can easily be distinguished from other products or services by any individual. Thus, one can say that trademark helps in identifying as well as distinguishing products and services from those of competitors. A trademark can be a logo, phrase, image, design, symbol, word, combination of letters or numbers, a particular color combination or even simply a number. Subject to certain conditions, a trademark may also be symbolized by the name of the person, living or dead. The primary purpose of trademark is to prevent consumers from being confused regarding the origin and source of product or service. It helps consumers answer the questions like “Who is the provider of the service or product?” and “Who makes the product?” When a trademark is used in relation to services rather than products, it may sometimes be called a service mark, particularly in the United States. The three basic characteristics that a trademark must possess are distinctiveness, tangible representation and actual use.
In common-law nations such as the United States, trademark rights are acquired by actual use rather than by registration. Moreover, registration with the U.S. Patent and Trademark Office confers many legal benefits, including access to federal courts and the right to triple damages against infringers in some cases. Although trademarks are registered for the duration of 10-year, a trademark is considered forfeited if it is no longer used, even if its registration is still valid. Thus, the use of trademark plays vital role. No matter in whichever part of world one is carrying business it is always advisable to register the trademark.
Legal proceedings may be commenced by the owner of registered trademark if there is infringement of trademark so that unauthorized use of trademark can be prevented. The owner of the trademark can also file a suit even if the trademark is not registered, but an unregistered mark may only be protected within the geographical area within which the particular trademark is used or in geographical areas into which it is expected to expand.
The most important step towards trademark registration is to search whether any other business has applied to register or been registered under similar trademark. If some business has applied for or registered a particular trademark, in this case it cannot be used by anyone. Thus, trademarks are registered so that individual or company registering it is legally entitled to use it. Always try to choose a trademark which is easy to spell, speak and remember. The best are the ones which are invented words. It is always advisable to consult a trademark lawyer who can advise on each at every aspect of trademark.

Thus, registration of trademark plays a very important role and there are various benefits of registering trademark.

INDIAN COURT JUDICIARY

2010-01-21T02:12:00.000-08:00

Each country has its own judicial system which helps in interpreting law and applying it depending on facts of each case. Judiciary is also considered as mechanism that helps in resolution of disputes. Similarly India also has its own Judicial System which helps in governing the entire judicial system in India. The judicial system of India is also considered to be the oldest legal system. Unified judicial system provided by The Indian Constitution governs the entire judicial system in India.

Supreme Court is at the top and heads the system, then is the High Court and at the bottom is the subordinate courts. The Supreme Court of India is considered to be the highest court in India and is located in Delhi, the capital of country. It is presided by the Chief Justice of India and is also referred to as apex court of India. It is considered to be the final court of justice and also deals with matters which concerns more than one state as well as matters between the Union Government and any one or more states. Supreme Court judge can retain till 65 years. There are some requirements for being appointed as Supreme Court Judge and the most vital is that a person should be a citizen of India. Under Article 141 of the Constitution of India all courts in India which includes High courts are bound by the judgments and orders of the Supreme Court of India. All the documents filed in Supreme Court should be in English language only. If it is in some other language it should be either accompanied by a translation agreed by both the parties or certified to be true translation by a translator appointed by the Court or translated by a Translator approved or appointed by the Court.
There are total 21 High Courts in India. All these 21 High Courts are namely Allahabad High Court, Andhra Pradesh High Court, Bombay High Court, Calcutta High Court, Chhattisgarh High Court, Delhi High Court, Guahati High Court, Gujarat High Court, Himachal Pradesh High Court, Jammu and Kashmir High Court, Jharkhand High Court, Karnataka High Court, Kerala High Court, Madhya Pradesh High Court, Madras High Court, Orissa High Court, Patna High Court, Punjab and Haryana High Court, Rajasthan High Court, Sikkim High Court, Uttaranchal High Court. These courts have jurisdiction over a state, a union territory or a group of state and union territories. Judges of High Court are appointed by the President of India in consultation with the Chief Justice of India as well as the governor of the state. High courts exercise their original civil and criminal jurisdiction only if the courts subordinate to the High court in the state are not competent (not authorized by law) to try such cases due to lack of pecuniary or territorial jurisdiction. Primarily the work of most High Courts consists of Appeals from lower courts and writ petitions in terms of Article 226 of the Constitution of India.

Below the High Courts are a hierarchy of subordinate courts namely civil courts, family courts, criminal courts and other district courts. Each state is divided into judicial districts presided over by a 'District and Sessions Judge'. The judge is known as a District Judge when he presides over a civil case and is known as a Sessions Judge when he presides over a criminal case.

Whether buying property in India safe for NRIs?

2009-11-19T23:03:00.000-08:00

The Indian economy market and the real estate is now becoming a popular investment method for NRIs. Now a days, various schemes and avenues are offered which open up the gates for safe investment. Stability in market has led to immense increase in interest with regard to it. A good deal and base in motherland attracts NRIs and PIOs to make investment in residential and commercial property in India. It gives them good returns which multiply rapidly.
The Reserve Bank of India (RBI) and FEMA (Foreign Exchange Management Act) now inculcates the sense of security in property investment. FEMA now gives prescribes for more liberalized rules and regulations in addition to repatriation of capital so invested and rental proceeds as given under RBI. It also ensures 10-12% returns.
The flexible rules now give an excellent opportunity for NRI investment as opposed to earlier times where they had to suffer issues regarding income and wealth tax, Hindu joint family act and Municipal rules.
Unlike Indian residents, NRI enjoys the same status as property owner, despite of different rates of property tax. Finances can also be raised from financial institutions to purchase an apartment and property tax is to be paid to the concerned authorities. Home loan can be repaid by inward remittance through normal banking or by direct debit for those who earn income through rent, pension etc. in India. Real estate business has witnessed boom by crediting the existing balance in Non Repatriable rupee accounts on maturity to convertible NR account. The transactions involved in NRI investment in India has been made easy through these accounts and the online NRI banking.
Moreover, the consultants, builders and the estate dealers ensure fair deal and transparency in projects. This allows NRI to consider their investments as safe. High quality construction so guaranteed plays major role in attracting NRI investment in real estate. There is no doubt that investing in property in India is the best option for NRIs that bears long term benefits and security.

Laws Related to NRI Divorce

2009-11-09T00:45:00.001-08:00

They provided themes for bollywood hits but in real life, NRI weddings may not be the proverbial bed of roses. Nearly two in every ten NRI marriages are faked or end up in a divorce. As many as 152 cases of fraudulent marriages are registered with the Ministry of Overseas Indian Affairs.
In many cases, girls, just to get a green card, marry Indian Americans and later divorce them, she says, noting “A number of NRI marriages last only for two years, the time needed to get a green card. Many times, people even have kids to make it seem like a real marriage. This is also creating a population of ‘abandoned’ children.”
Woman who sought to use criminal law to punish her husband and in-laws for dowry demands and/ or, or matrimonial cruelty and found that the trial could not proceed as the husband would not come to India and submit to the trial or respond in any way to summons, or even warrant of arrest.
Woman who had to fight nasty legal battles for custody of her children and for child support, and to bring them back with her after she was divorced or forced to leave, sometimes even facing charges of illegally abducting her own children.
Woman married to NRI who was abandoned even before being taken by her husband to the foreign country of his residence – after a short honeymoon he had gone back, promising to soon send her ticket that never came. In many instances the woman would already have been pregnant when he left and so both she and the child (who was born later) were abandoned. The husband never called or wrote and never came back again. The in-laws who could still be in India would either plead helplessness or flatly refuse to help.
Measures being taken by the Indian Government
The Domestic Violence Act has been created mainly to protect women from excesses against them, where action is prompt and justice ensured within three months. There are numerous NGOs and other agencies that provide officers to protect these women.

The ministry of Overseas Indian affairs has been issuing public service messages on television on how vital it is to get marriages registered, and a copy of the marriage certificate be made available as proof. There is also a booklet that has been published titled Marriages to Overseas Indians, which is a Bible for brides and their parents.
Some common situations that lead to divorce are:
• The NRI spouse already has another spouse, and in some cases children also, settled with him abroad. In most of the cases the groom does not take the bride with him leaving her behind with parents. But when the reality is disclosed the girl’s family seeks divorce for their daughter.
• The NRI spouses exaggerate about their possessions in the foreign country - home, vehicle, high paying job, but actually might not be in a position to support a family after marriage.
• The lifestyle of the NRI spouse is too much advanced for the Indian spouse to keep pace with him or her. The NRI spouse feels that he or she is not suitable as a partner and seeks divorce on the grounds of incompatibility.
Whatever may be the reason for divorce, a person who has married an NRI should be aware of the basic laws related to NRI divorce.
• If both the spouses are Indians and have been married under Hindu marriage Act of 1955 they can seek divorce with mutual consent under section 13-b that provides for divorce by mutual consent.
• If both the spouses are residing in USA, or any other foreign country, then they can seek divorce by mutual consent under the country’s divorce laws related to foreign marriages. The Indian legal system will recognize the divorce only if it is with the consent of both the parties.
“There are country specific legalities that need to be studied first. Thereafter, some changes or enhancing some clauses to curb the problem in these countries can be recommended after sensitizing their local authorities about the problem of desertion of Indian brides,” Secretary, Ministry of Overseas Indian Affairs (MOIA), K Mohandas said.
The recommendation was accepted by the committee on observation that it is very easy to seek for and get a divorce in these countries.
“Local authorities in these countries are not much aware of Indian customs and traditions whereby it is very difficult for an Indian woman to enter into nuptial ties again after a divorce,” an MOIA official said.
NRI DIVORCE / MARRIAGE VARIOUS ENACTMENTS
• The Indian Divorce Act, 1869
• The Special Marriage Act, 1954
• The Hindu Marriage Act, 1955
• The Hindu Minority and Guardianship Act, 1956
• The Hindu Adoptions and Maintenance Act, 1956
• The Dowry Prohibition Act, 1961
• The Foreign Marriage Act, 1969
• The Family Courts Act, 1984
• The Muslim Women (Protection Of Rights On Divorce) Act, 1986
It also recommends that the government ask foreign missions to ensure visa isn’t granted without a marriage certificate and social security number, if applicable; that fast track courts take up litigation related to NRI marriages; and that the Law Ministry issue appropriate circulars.
It is clear that certain laws are being amended and help being offered to victims of NRI crimes. However, is this enough or do you feel that more can be done in providing assistance and enhancing awareness of the common man on the subject?

Loan for NRI

2009-11-06T02:51:00.001-08:00

Indians living on foreign lands always can use a house of their own in their country. Hence, NRI loans are now helping all those Indians to have this dream fulfilled in many wonderful ways and with lots of other benefits.
The Non-Resident Indians (NRIs) are recognized under the Foreign Exchange Regulatory Act, 1973. Every bank and housing finance companies follow the RBI guidelines to define NRI -
"An Indian citizen who holds a valid documents like Indian passport and who stays abroad for employment or for carrying on business or vocation outside India or stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad is a NRI."
Eligibility Criteria:-
• Non-resident Indians planning to return home
• Government servants stationed overseas on duty with the Indian missions or deputed abroad by foreign Governments or international agencies
• Loans are also granted for renovation of an existing property.
Loan Amount
Housing finance companies can cover up to 85% of the cost of the residential property, with an upper limit of Rs.1 crore & Minimum loan amount Rs. 3 lakhs. The capacity to repay determines the maximum that an NRI can borrow, which in turn is determined by such factors as: income, age, qualifications, work experience, number of dependants, income of spouse, assets, liabilities, stability and continuity of occupation, employment prospects in India, and savings history.
As per a circular issued by the RBI on 31st January, 2007, if the loan is against the NRI's NRE and FCNR accounts, the maximum loan amount cannot exceed Rs. 20 lakhs.
Rate of Interest and other charges
• Interest rates are same as applicable for resident Indian borrowers for various tenures, available on fixed/floating/combination of fixed and floating rates (under SBI-Flexi Home Loans)
• Repayment in EMIs (Equated Monthly Installments)
• Interest is applied on daily diminishing balance basis
A NRI has options of fixed rate and floating rate interest home loans. In a fixed rate scheme the rate of interest associated with the loan is fixed, i.e., a borrower cannot take advantage of a reduction in interest rates in future. And, if they wish to change over to the floating rate scheme, they will be levied some extra charges. On the other hand, in a floating rate scheme, the monthly repayment amount changes according to the fluctuation of rate of interest in the market.
Time Span of Loan
Generally loans are disbursed for a period of 3 to 10 years, and NRIs can avail of time spans to suit their convenience.
Guarantee for the loan
The residential property that is being purchased is mortgaged to the financing institution, by submitting title deeds and other collateral security as may be required:
• Original title deeds tracing the title of the property for a minimum period of the last 13 years.
• Encumbrance Certificate for the last 13 years.
• Agreement of sale /construction, if any.
• Approved plan / license.
• ULC clearance /conversion order etc.
• Receipts for having invested the margin money through normal banking channels from the Non-Resident (External) account in India and / or the Non-Resident (Ordinary) account in India.
• Latest tax paid receipt
Supporting documents to avail a Housing Loan:
• Passport and Visa
• A copy of the appointment letter and contract from the company employing the applicant.
• The labor card/identity card (translated in English and countersigned by the consulate) if the person is employed in the Middle East
• Salary certificate (in English) specifying name, date of joining, designation and salary details.
• Bank Statements for the last six months.The power of attorney (POA). The POA is required because the borrower is not based in India and in such a scenario; the HFC would need representative 'in lieu of' the NRI to deal with as required. Although not mandatory, the POA is usually drawn on the NRI's parents, wife or children.

PIO Card

2009-10-21T01:48:00.001-07:00

Person of Indian Origin refers to a person of Indian origin who is not a citizen of India. PIO Card is a form of identification which is issued to a PIO who holds a passport in another country, except Pakistan and Bangladesh.
The PIO card came in effect from 15 September, 2002. For the purposes of issuing a PIO Card, the Indian government considers:
1. Anyone of Indian origin up to four generations removed, to be a PIO.
2. Spouses of people entitled to a PIO card in their own right also have option to carry PIO cards. Regardless of ethnic origin, foreign spouses of Indian nationals are also included.
3. Anyone who has ever held an Indian passport.
Card holders are exempted from many restrictions applying to foreign nationals, such as visa and work permit requirements, along with certain other economic limitations.
In order to allow a limited form of dual citizenship to Indians, NRIs and PIOs, the Indian government, as of January 2006 has introduced the "Overseas Citizenship of India (OCI)" scheme for the first time since independence. PIO card scheme is expected to phase out in favor of OCI in the coming years. The PIO card is valid for period of 15 years from the date of the issue.
Advantages of PIO card:
1. No visa required for visiting India during the period of validity of PIO Card.
2. Exemption from registration at Foreigners Registration office at District Headquarters if stay in India does not exceed 180 days.
3. Parity with non-resident Indians in respect of facilities available to the latter in economic, financial and educational fields i.e.
a) acquire non-agricultural and plantation property in India,
b) admit children to all educational institutes in India under NRI quota,
c) apply for various housing schemes of LIC, state governments and other government agencies.
However, persons with a PIO are not allowed to vote and are ineligible for an inner line permit. Protected area permit is mandatory for these cases. They cannot undertake activities like missionary and research work, mountaineering, existing PAP/RAP without a special permit.
Documents required:
1. All relevant documents which substantiate claim to Indian origin.
2. In the case of children, a copy of the parent’s passport if parent still an Indian citizen, or old passport or birth certificate.
3. 4 passport size photographs, front view.
4. PIO card fee – US$ 310 for adults; US$ 155.00 for children, by a check favoring Embassy of India/Consulate General of India (as applicable).
Under the citizenship Act, PIO card holders can also apply for citizenship if they have resided in India for a minimum of 7 years before the application is submitted.
Withdrawal of PIO card:
1. If obtained through fraud, concealment of facts or false representation.
2. The activities of the card holder in India do not confirm to the laws of the country and the Indian Constitution.
3. The card holder happens to be citizen of a country with which India is at war, or is supporting another country in acts of aggression against India.
4. PIO found guilty of acts of terrorism, smuggling of arms and ammunition and narcotics or has been sentenced in India up to one year’s imprisonment or fined up to Rs. 10,000.
5. Card holder’s presence in India is detrimental to the interests of the country.
Explanation for withdrawal of the PIO card by the Government of India is not necessary.

Adoption bY Nri's

2009-10-19T23:27:00.000-07:00

Many non-resident Indians and people of Indian origin (PIO) who wish to adopt Indian children face a lot of hurdles.
Adopting a child from India may seem simple on paper, but the paperwork and procedures can be time-consuming. So much so that it is rare for a foreigner to get a baby younger than 10 months or a year. Of course, the satisfaction and fulfillment that one feels when the baby is one’s arms makes the long process worth the wait! Luckily, the Indian government has realized this problem and is now trying to speed up the process of adoption. From this year onwards some results are expected.
What exactly does an adoptive parent have to anticipate? Well, there are different rules - for Indians living in India, for those of Indian descent living in foreign countries and for foreigners. One of the advantages of Indian adoptions is that singles are allowed to adopt, including single males. However, it is easier for single women.
Generally speaking, childless parents are preferred, though this is not a must. If you have only boys, then it is perfectly alright if you adopt a girl. The age difference between the child and parents should not be more than 45 years.
For NRI’s (Non-Resident Indians)
No relatives can be adopted - only abandoned children. Secondly, at least one parent needs to hold foreign citizenship as most countries (United States) do not allow you to adopt from another country unless you are a citizen. It is also ideal if the other parent has an Indian passport as this exempts the prospective parent from an ACA clearance. This saves time and paperwork. Overall, parents of Indian descent are preferred, even if they hold foreign citizenship.
The Guardians and Wards Act, 1890 (GWA), a 116 year old Indian law, plays spoilt sport for the 12 million orphaned children in India who need parents by not allowing Muslims, Christians, Jews and Parses to become a child’s adoptive parents.

They can only be appointed as ‘guardians’. Even the more liberal Hindu Adoption and Maintenance Act, 1956 (HAMA) does not allow non-Hindus to adopt a Hindu child. The process is tedious and hemmed in with restrictions.

The result - non-Hindus and foreign nationals can at most become guardians but cannot adopt children from India, even after they comply with the cumbersome procedure.

The procedure of adopting Indian children is extremely complicated for NRIs, even if they are Hindus. Section 16 of HAMA gives a conclusive status to an adoption deed recording an adoption in compliance with the provisions of this Act.

So a Hindu NRI - who having executed an adoption deed under the said Act, approaches the American, British or any European embassy or high commission, for immigration of the adopted child to its new home country - is faced with big disappointment.

The adoption deed is not enough. The foreign rules stipulate that the adoptive parents have to now obtain ‘guardianship orders’ from a ‘guardian judge’ under the Hindu Minority and Guardianship Act, 1956 (HMGA) for Hindus and a similar order under the GWA for non-Hindus. Genuine transfer of parental responsibility does not help.

The fact that a valid adoption under HAMA is not acceptable for immigration purposes, unless supported by a guardianship order either under GWA or HMGA, is somewhat of a legal paradox.

In fact, it’s a pity that even after 60 years of Independence, India does not have a comprehensive adoption law applicable to all its citizens, irrespective of the religion they profess or the country they live in as NRIs, PIOs. .

In-country Adoption of Indian children is governed by In-country Guidelines-2004 while Inter-country Adoption procedure is governed by a set of Guidelines last issued on 14th February’2006. These Guidelines are a follow up of various directions given by the Supreme Court of India in L.K. Pandey vs. Union of India (WP No 1171 of 1982 and other cases). These Guidelines are amended and updated from time to time keeping in mind the welfare of such child. While CARA (Central Adoption Resource Authority) is engaged in clearing inter-country adoption of Indian children, its principal aim is to promote in-country adoption. In fact, CARA ensures that no Indian child is given for inter-country adoption without him/her having been considered by Indian families residing in India. CARA also provides financial assistance to various NGOs and Government run Homes to promote quality child care to such children and place them in domestic adoption.

Further, keeping in view the repeated guidelines of the Supreme Court of India in adoptions by foreign nationals to prevent trafficking of children and to protect their welfare, a uniform streamlined statutory procedure acceptable to foreign jurisdictions would also serve the purpose better to mitigate the plight of the adopted child.

Necessity of PAN card for NRI

2009-10-10T00:13:00.000-07:00

Effective 1st January 2007, all Non Resident Indians (NRIs) and Persons of Indian Origin (PIOs) need a Permanent Account Number (PAN) card to invest in India: primarily in Indian stock markets - viz: Indian mutual funds, stocks, derivatives, bonds or who wants to carry any kind of financial transaction.:
Applying for a PAN

Department of Income Tax (DIT) has appointed two agencies for issuing a Permanent Account Number and the PAN Card:
Unit Trust of India Investor Services Ltd (UTIISL)
National Securities Depository Limited (NSDL)
The PAN Card can be obtained by submitting Application Form 49A to either of these two agencies. The form can be downloaded. It gives an opportunity to both apply and pay for a PAN card online. The waiting time for an NRI is, on an average, 25-30 days. According to The Income Tax Department rule, Person is liable to pay a fine of Rs. 10000 if he doesn’t have a PAN.
Fee:
The fee for processing a PAN application is Rs.717 composed of application fee Rs.67 (Rs.60 + 12.24 per cent service tax) plus overseas dispatch charges of Rs.650. You can pay by demand draft payable at Mumbai.
Requirements:
Besides several other requirements, a proof of the following is also needed:
· His own identity
· Address in India as well as abroad
· Designation and code of the concerned Assessing Officer of Income Tax Department
· Details of a Representative Assessee: Section 161 of the Income Tax Act specifies that every Representative Assessee shall be subject to the same duties, responsibilities and liabilities as the NRI. And if the NRI who is being represented fails to pay his tax dues, such tax shall be levied upon and recovered from him i.e. the representative assessee.
Equity / Share Market Trading & Demat Account
To invest in share market, prior permission must be obtained from the Reserve Bank of India. All Non Resident Indians (NRIs) and Persons of Indian Origin (PIOs) need a PAN card to invest in the Indian stock markets. (Foreign investors would also need a PAN).
Demat or ‘dematerialized’ account enables you to buy, sell and transact shares without the endless paperwork and delays, thus making it possible to even trade on the internet. It is also safe, secure and convenient and helps you to avoid stamp duty and filling transfer deeds, and obtaining quick receipt(s) of benefits like stock splits and bonuses.
Filing Income Tax Returns
It is required to recite your PAN on a return of income, all encounters with any income tax authority for anything that you owe to the Income Tax Department.
Property Transactions
This condition has been waived for NRIs and PIOs (as per Rule 114C). Thus, it is not mandatory for an NRI / PIO to have a PAN for entering into a property transaction.
It is required to recite your PAN on all documents that have to do with and transactions you might have economically or financially.

NRI Legal Services: NRI Investment in India

2009-10-08T21:54:00.000-07:00

NRI Tax IssuesNRI India Investment has been subjected to ample neglect over the years. It is only in the past few years that the Indian Government is paying utmost interest in this matter as NRIs all over the globe are being encouraged to bring fresh funds for the economy. BEING THE 10TH largest economy in the world and the 4th largest in terms of purchasing power parity (PPP), India has emerged as a potential destination for NRI investment. It has a large reservoir of skilled labor which is internationally cost-competitive, a large entrepreneurial base and a diversified manufacturing sector. These attributes make it easy to find partners for collaborations.
Non Resident Indians are allowed to invest any of the following investments in India with conformance to the following stipulations.
1. Residential Property
2. Commercial Property
3. Bank Accounts
The NRI/PIO may use his own funds to acquire immovable property; other than the option of availing home loan from bank for this purpose. The NRI's ‘own funds’ refer to the money received in India by way of inward remittance from overseas out of income earned overseas, personal savings outside India. These funds can be remitted through Non-Resident External (NRE) or Non-Resident Ordinary (NRO) or Foreign Currency (non-resident) (FCNR) bank accounts.
Reserve Bank has granted general permission to NRIs/PIOs, for undertaking direct investments in Indian companies, under the Automatic Route purchase of shares under Portfolio Investment Scheme, investment in companies and proprietorship/partnership concerns on non-repatriation basis and for remittances of current income. NRIs/PIOs do not have to seek specific permission for approved activities under these schemes.
Moreover, they can remit sale proceeds outside India for up to two such properties without any RBI approval. Remittance for subsequent properties requires RBI's approval. In case the property is acquired from rupee funds held in India, the remittance depends on the holding period of the property.
SPECIFIC PERMISSION OF RBI
Permission of the RBI is required to be obtained by all Non-Residents, resident foreign citizens, foreign companies and branches of foreign companies operating in India for:
· Carrying on in India any trading, commercial or industrial activity on its own or through an agent;
· Establishing a place of business in India to carry on such activity;
· Acquiring the whole or any part of business or industrial undertaking in India;
· The purchase of shares in Indian companies;
· Accepting appointment or acting as agents in India of any person or company;
· Acquiring, holding, transferring, disposal by sale, mortgage, gift, lease of more than 5 years, settlement orotherwise, of any immovable property situated in India.
An Indian company, in which non-resident interest is more than 40%, requires RBI permission to engage in agriculture or plantation activities or to acquire the whole or part of any undertaking engaged in such activity.Foreign nationals require RBI permission to practice any profession or to carry on any occupation, trade or business in India if they wish to repatriate their earnings abroad.
NRIs can invest in India as under:
1. Investment under Automatic Route with repatriation benefits
2. Investment with Government approval
3. Other investments with repatriation benefits
4. Investments up to 100% equity without repatriation benefits
5. Other investments by NRIs without repatriation benefits.
1. Investment under Automatic Route with repatriation benefits:
NRIs can invest in shares/convertible debentures of Indian companies under the Automatic Route without obtaining Government or RBI permission except for a few sectors where FIPB/SIA permission is necessary, or where the investment can be made only up to a certain percentage of paid up capital.
2. Investment with Government approval:
Investments not eligible under the Automatic Route are considered by the Foreign Investment Promotion Board (FIPB), a high powered inter-ministerial body under the chairmanship of Secretary, Department of Industrial Policy & Promotion, SIA, subject to sectoral limits/norms. These investments also enjoy full repatriation benefits.
3. Other investments with repatriation benefits:
· INVESTMENT IN DOMESTIC MUTUAL FUNDS
· INVESTMENT IN BONDS ISSUED BY PUBLIC SECTOR UNDERTAKINGS
· PURCHASE OF SHARES OF PUBLIC SECTOR ENTERPRISES (by NRIs/PIOs/OCBs)
· DEPOSITS WITH COMPANIES (FOR A MINIMUM PERIOD OF THREE YEARS)
· INVESTMENT IN GOVERNMENT SECURITIES/SHARES

4. Investments up to 100% equity without repatriation benefits:
CAPITAL CONTRIBUTION TO ANY PROPRIETARY OR PARTNERSIP CONCERN: NRIs can invest by way of capital contribution in any proprietary or partnership concern in India provided the firm or the proprietary concern is not engaged in any agricultural/plantation activities or real estate business or Print Media on non-repatriation basis subject to the certain conditions.
NEW ISSUES OF SHARES/DEBENTURES OF INDIANS COMPANIES: NRIs as been ranted general permission to subscribe to the shares/convertible debentures of an Indian company on non-repatriation basis, and to an Indian company to issue shares or convertible debentures by way of new/rights/bonus issue to NRIs on non-repatriation basis provided that the invitee company is not engaged in agricultural/plantation activities or real estate business (excluding real estate development i.e. development of property or construction of houses) or chit fund.
5. Other investments by NRIs without repatriation benefits:
· Investment in Non Convertible Debentures
· Money Market Mutual Funds
· Deposits with Companies
· Commercial Papers
NRI can also, without any limit, purchase on non-repatriation basis dated Government Securities, treasury bills, units of domestic mutual funds, units of Money Market Mutual Funds.
However, NRIs are not permitted to make Investments in Small Savings Schemes including PPF.

NRI Marriages, whether safe?

2009-09-29T04:44:00.000-07:00

There was a time when the parents of girl wished their son in law to be somebody overseas earning lot of money and having bright career to give their daughter a life full of comfort and happiness.
The trend of NRI marriages became popular mainly in Punjab, Gujarat and Haryana. As and when the number of such marriages arose, with the advent of time, marital problems showed an extreme curve. The National Commission for Women receives several complaints from women abroad and duped by their NRI husbands. According to NCW nearly 15,000 women are deserted by NRIs in Punjab alone. The number of abandoned brides may range somewhere in 15,000-30,000, there is a large number of cases which are not reported due to fear of social stigma.
Numerous brides still wait for call from abroad but purpose is never solved. NRI grooms get married in India, take away dowry, promise to send ticket for bride and never returns back, instead divorce papers are sent. Some time ago, I saw the news where the relatives of bride were thrashing groom as he had concealed his other marriage. Is this the only resort available for bride’s family? Moreover, NRI brides are forced to compromise over lying, cheating, false promises, divorce, desertion and they become totally helpless due to more vulnerability in foreign country without any financial support.
Problems in marriage can arise, if there is a clash on viewpoints. Sometimes, person is not able to adjust and live up to his/her partner’s expectations. Thus, it leads to financial, sexual or other kind of problems. Problems after marriage include harassment for dowry, concealment of pre-existing marriage, non consummation of marriages. As the marriage is no longer governed by Indian laws, woman’s recourse to justice abroad becomes greatly complicated.
These circumstances can be avoided if people verify the credentials of prospective husbands, including checking their passports, residency status and financial details, voter registration card, social security number, employment record, tax returns and other relevant information pertaining to the three preceding years. Another extremely important thing is to get marriage registered. It should be accompanied with affidavit stating his marital status. Without proper documentation it is very difficult to prove the marriage in courts abroad and this is the reason that many Indian women are forced to live like domestic helps. A major loophole is the non availability of mechanism to serve summons outside India and record evidence abroad in order to get some authentic information before NRI marriages are finalized.
Police and law enforcing agencies in India need to be more sympathetic in dealing with them and FIR reporting should be made possible for the victims ruling out any influence from groom’s family. Private international law should be embraced to deal with disputes in which one of the parties resided outside the country. There should be a comprehensive regulation to ensure that all the protection to Indian women with regard to -marriage, divorce, maintenance, inheritance and custody of children are applicable to victims of fraudulent NRI marriages as well. Alertness and awareness is the need of the hour. Lives of thousands of brides to be can be saved by strict legislation, amending laws and supporting those who need our help.

PIO CARD-THE CONNECTING BOND

2008-01-02T03:40:00.000-08:00

A French scholar Romaine Rolland rightly said “There is one place on the face of earth where all the dreams of living men have found a home from the very earliest days when man began the dream of existence, it is India.”

A considerable population of the Indians exists in Gulf regions, Mauritius, East Africa, Australia, and Canada. About 1.1 million exist in the Caribbean and South American countries. Moreover 1.7 million live in the United States, 3 million in gulf areas and in UK they form the largest cultural community.

Since independence, the Indians settled abroad have been returning to discover new opportunities for interacting with their homeland. These Indians who have settled in the far off lands miss their own country and make every effort to connect with their motherland in some way or the other either by purchasing property or networking with their relatives etc.

Respecting the sentiments of such nationals who want to participate in the development of their country, the Government of India launched a unique scheme on 31st March, 1999 so that they could obtain a dual citizenship. It was revised and renamed as the PIO card scheme in 2002 and came into force on 15th September 2002. This allows visa free entry to the people of Indian origin and gives them the right to enjoy all the privileges enjoyed by (NRIs) including the purchase of non-agricultural land.

Indian passport holders, the spouses of Indian citizens or PIO card Holders, people whose parents/grandparents/great grandparents were born or permanently residing in India and other territories that became part of India thereafter are eligible for applying for this card, provided neither of these people were the citizens of any other country specified by the Central Government. It would not be issued to people of Indian origin living in Pakistan and Bangladesh. Moreover, these provisions should be in confirmation with the Government of India Act, 1935. These eligible contenders apply for the issuance of the card in the Indian Mission of the country where they are residing, and the same is authorized by an officer notified for the purpose or the Joint Secretary of the Ministry of Home Affairs. All the applications for issue or renewal of a PIO Card are to be made in the prescribed formats and accompanied by documentary evidence to show that the applicant is a person of Indian origin as defined.

The PIOs enjoy several economic, educational and literary benefits under the purview of this scheme. It is not mandatory for them to carry visas on their visits to India. If the continuous stay does not exceed 180 days then there is no need to register with the Foreigners Registration Officer however if the stay exceeds 180 days, then the registration is required to be done within a period of 30 days of the expiry of 180 days.

The PIO card holders also avail the services and future advantages available to the NRIs like: holding, acquiring, transferring and disposal of immovable properties in India except agricultural and plantation properties, admission of students in educational institutions including colleges and schools in India under the general category quota for NRIs and benefiting from various housing schemes of Life Insurance Corporation of India, State Governments and other Government agencies. They can purchase shares up to 5 per cent of the paid-up capital of an Indian company. However, they are not allowed to enjoy political rights in India. If someone has done some exceptional work associated with the development of the country or its infrastructure then a Gratis PIO card is issued in their name as a compliment to the effort exerted on their behalf.

Granting PIO cards and Overseas citizenship to Indians has certainly lent a hand in restoring and reinforcing the emotional bond amongst these Indians with the land of their origin and has encouraged the social and cultural development of their own country.

Indian Real Estate- A popular option for NRI’s

2008-01-02T03:23:00.000-08:00

Sushil Kumar, a Non-Resident Indian based in Austin, Texas bought a 1000 sq feet flat in New Delhi, India costing Rs. 35 Lakhs in 2004. At that time he was upset with the fact that he was over-paying for it but today he not only has the worth of the flat more than double, however in addition to this he is truly elated that this real estate investment is giving him such good return. This example very clearly sums up the Indian Real Estate Market of today. According to the recent trends, the Indian property market is not only flourishing, but growing by leaps and bounds. Research data estimates that the Indian Real Estate Market is expected to grow from the current 14 billion dollars to 102 billion dollars in the next 10 years.
After the September 11 incident in the US, investments in Indian markets have gained momentum. India has encouraged Non Resident Indians (NRI’s) and Foreign Investors by giving them tax incentives and relaxation of foreign direct investments (FDI) rules. The RBI has further relaxed the rules for NRI’s with respect to returning of foreign exchange in real estate investments. In addition to being one of the safest destinations, India now offers 15 to 25 per cent returns which are conceivably the highest in the world. Mumbai alone accounts for 30 percent of the Indian real estate business in India.
India’s market potential
1. It is the fifth largest economy in the world (above France, Italy, the United Kingdom, and Russia)
2. It has the third largest GDP in the entire continent of Asia.
3. It is also the second largest among emerging nations.

Indian Real Estate sector: Facts and Figures
The Indian real estate has a massive potential demand in almost every segment especially commercial, retail, residential, healthcare, hospitality etc.
Now let us take a look at some of the facts and figures about the retail industry in India.
1. The projected size of the organized Indian real estate sector is approximately USD 12 billion of India's USD 600 billion economy; which is just 2% less as compared to the mature economies of the world.
2. Relaxation of the FDI rules has brought about capital gains in almost every sector of Indian economy. The government is also making efforts in removing the strict guidelines of FDI so that the system becomes NRI friendly.
3. An estimated 30% growth has been observed in the retail sector last year, due to the relaxed FDI norms and the connected growth drivers. It has been estimated that by 2010 the Indian real estate sector would be between somewhere between USD 45-50 billion
4. Real estate sector has the potential to reach the target of USD 90 billion in 10 years.
5. The real estate prices these days are already on the upswing in all markets across sectors since the last two years.
Foreign Investment (FDI) in Real Estate Sectors in India
Initially only NRI's and PIO's were the only ones who were allowed to invest in housing and real estate sectors. Foreign investors except NRI’s were permitted to invest only in the improvement of integrated township projects and that too through a wholly-owned subsidiary or a joint venture company with a local partner.

In 2005 the Indian government fully opened the FDI in real estate. However, the rules framed later limited the minimum capitalization of $10 million for a wholly-owned subsidiary and that of $5 million for a joint venture company mandatory. In addition to this in March 2005, the Department of Industrial Policy and Promotion allowed FDI in real estate projects in a minimum area of 25 acres.

The finance ministry has also allowed external commercial borrowing (ECB) in real estate projects concerning townships spread in an area of 25 acres or 50,000 sq m. However, this has not yet been notified by the RBI. In the present situation, the government has allowed FDI in real estate, but does not sanction foreign institutional investment. Nevertheless, the government is going to remove the gap in the meanings of FII and FDI and is also planning to levy the same rules for both types of investments.
NRI’s can now purchase, rent and transfer residential/ immovable property in India. However, the set of laws do not permit the NRIs and PIO’s to attain property like agricultural land, cultivated area and farm houses in India. However they can take the rental income of the property situated in India.
The NRI/PIO can use their own funds to buy immovable property; excluding the option of availing home loans from banks for this purpose. The NRI's ‘own funds’ refer to the money received in India by way of private transfer of funds from abroad, out of the income earned there including the personal savings outside India. These funds can be transferred through Non-Resident External (NRE), Non-Resident Ordinary (NRO) or Non resident foreign currency bank accounts.
Moreover, they can dispatch earnings from sale outside India for a maximum of two properties held here without taking any permission from RBI. The transfer of funds for subsequent properties requires RBI's approval. In case the property is bought from an Indian account, the remittance depends entirely on the nature of the holding period of the property. The various sectors in which investments in the real are done are the following:
Residential (Housing): The mortgage rates lowered from 18% to 8% in the last 5 years.
Commercial (Office space): the leasing in IT space is booming with 12 million sq ft leasing in Bangalore, 7.7 million sq ft in the National Capital Region and 6 million sq ft in Mumbai in 2007.
Retail (Shopping): Organized retail, which constitutes 2 % of the USD 200 billion sector, is expected to grow from USD 4 billion to USD 15 billion by 2010.
Hospitality (Hotels): Domestic and International investors are planning to invest in 3 and 4 star category hotels as India will require 75,000 to 1, 00,000 rooms in the next 5 years. Doe to the Commonwealth Games coming up in 2008 there will be a greater need for top class hotels to cater to the urgent need of rooms to vacate the teams and the viewers. Many international hotel chains like Hilton, Clariges, Radisson, Le Meridian etc. are expanding their hotel business in India and are purchasing large areas of property to construct 5 star hotels.
Other areas where the real estate business is coming to India are in the building of resorts, hospitals, educational institutions, recreational facilities, Special Economic zones etc.

Conditions for Foreign Investment in Real Estate Sector in India
Foreign Direct Investment in some of the areas (not all) is subject to some conditions, some of which are stated as follows:

1. The development of a minimum land area of 10 hectares for housing plots, and a minimum developed area of 50,000 sq m in case of construction projects is necessary. ‘Built-up’ or ‘developed’ is not properly defined but FSI (Floor Space Index) or FAR (Floor Area Ratio) can be used as the source for the same.
2. To fulfill the minimum capitalization limit of $10 million for a wholly-owned subsidiary and $5 million for Joint Ventures is the mandatory requirement and these funds should be brought in India within six months of the initiation of business (as defined in the contract).
3. To complete 50% of the project work in the time period of five years from the date of receiving all clearances.
4. Not to sell undeveloped plots i.e. without any infrastructure, to provide proper facilities and to obtain a completion certificate from the local body concerned before clearance. But in reality this process takes a long time and the certificates are issued at a very later stage which leads to uncertainty and an excess expenditure on the construction.
5. The original investment should not be sent back before three years from the completion of minimum capitalization. If this process is to be quickened then the prior permission of the Foreign Investment and Promotion Board should be sought.
6. The investments should be done in confirmation with all applicable local and state laws, and all rules and regulations should be followed to the fullest possible extent.
Reasons for investing in India
There are various reasons for foreign investors to invest in the real estate in India. 5 main reasons have been discussed here.
1. Resilience
It has been 20 years since the reforms in the Indian economy have begun. There have been various developments and the main amongst them are; the opening up of the economy to investments abroad, amplification of the domestic financial system, validation of interest and exchange rates, liberal approach for imports, a more favorable atmosphere for investing in business, and the services for the community as a whole.
This buoyancy is clearly evident from the fact that the standard economic growth rates have moved up (8.2% in the financial year ending in March 2006) and India is emerging as one of the top budding economies in the world. The change in the government has also not blocked growth entirely; in fact this has boosted the economic growth further.
2. Improved focus on agriculture and infrastructure
In the present times there has been a constant focus on agriculture (which accounts for about 22% of the economy) and infrastructure. This focus on agriculture and other associated activities, which ropes approximately 65 percent our country’s population will provide a new drive for economic growth.
3. Benefits of foreign direct investment
Although currently the FDI investments have stagnated but its worth can never be lost. The FDI not only enhances domestic capital and supports increase in the prolific capacity of the economy; it also provides an exposure to the world class and top-quality equipment, services, processes, goods and jobs.
4. The global outsourcing boom
Each time one discusses about outsourcing, the Indian business process outsourcing companies strike our minds. Mostly the afterthought is that BPO is a call centre, but in reality there is a lot more to this industry. Opportunely, India is benefiting from this business on a large scale.
Some examples of the work coming to India in this sector is: research and improvement of a variety of products and services which include pharmaceuticals also, merchandizing of automobile parts and the entire IT networks. Due to the efficient services of the Indians in this field and the growth in the satisfaction levels of the clients there is a lot of work coming in this sector to India soon.
5. Well-synchronized and deep money markets
The Indian stock markets which include banks and mutual funds are well synchronized by the Securities and Exchange Board of India and the RBI. Although the procedure suffers from many irregularities e.g. the culprits of the 1992 and 2000 scams are still being traced, but on the whole the functioning has improved dramatically now.
To conclude we can say that, this is not going to be a cakewalk in any sense. It's not an easy task to do business in India; rather it’s really problematic finding appropriate associates who have alike long-term objectives, since most firms are small-scale and family run. Margins have already dropped and majority of the real estate finances are targeting returns between 25% and 30%, but they can go down to 20% any time. Therefore it is very important for the government to monitor and support the real estate market so that the shortcomings and the loopholes which are being observed in the present can be eliminated to the fullest possible extent.
In spite of all the above fears, all agree that the potential of India's real estate sector is colossal. It is one of the most sought after markets for two main reasons. One, with a population of over a billion, the openings are numerous; no other market is witnessing this sort of development both in business as well as housing markets. Two, the industry has an average rate of return of 30% and it will not be a surprise if the local developers achieve an IRR of as much as 50%. Clearly, India is one of the toppers in the list of competitors in real estate in the world.

NRI Facts

2008-01-02T02:49:00.000-08:00

Patel most common Indian surname in US

The US Census Bureau study found that Patel, ranked 172nd, is the most common Indian surname in America. A total number of 145,000 Patels are in the US.The study was based on returns from the 2000 census that takes place every ten years, with the Western name Smith taking the top position.The second most common Indian last name was Singh, its overall ranking was 396th, with 72,642 Singhs in the country. Singhs are Sikhs and also Hindus with roots in states other than Punjab.Khans ranked at 665th, but Khans come from Pakistan and Afghanistan as well as India.Shah ranked at 831, Sharma at 2247, Kumar at 2293 and Desai at 2540. Guptas, Reddys, Mehtas and Raos brought up the rear.The growth of the Indian origin population was the highest among all Asian origin groups. From 820,000 in 1990 it rose to 1.6 million in 2000 and is the third largest Asian American group in the US.

Indian Diaspora is largest in globalized world

More than 20 million Persons of Indian Origin and some 6 million Non resident Indians are spread over 136 countries, making the Indian diaspora the largest in the world.More than 40 percent of the population are from the diaspora in Fiji, Mauritius, Trinidad, Guyana and Surinam. In Southeast Asia, Malaysia leads with 7.3 percent of its population being from India.The situation in Malaysia however is disturbing, with divisions along racial lines, reinforced by religion, culture, language and occupation. Thousand of Indians returned to India after racial riots in 1969. In 2003 a number of Indian IT professionals were maltreated by Malaysian authorities. Over 40 percent of serious crimes in Malaysia are committed by Indians, who also have the highest suicide rate and cases of domestic abuse and deliquency abound.

India Now Festival starts in London

Kicking off a summer of celebrations marking London's links with India, Mayor Ken Livingstone sailed down the River Thames alongside a custom built replica of the Taj Mahal.The three month festival will feature 1,500 events focusing on Indian art, theatre, food, fashion, music, dance, film and will have an economic slant as well.Mayor Livingstone acknowledged India as an emerging economic superpower, and an important nation with an important culture. He stated London is aiming to strengthen its ties with India and lent his support to a festival tour of London promoting the time spent in the city by Mahatma Gandhi, starting in 1888, when lived in Tavistock Street, Covent Garden, the inner temple and Farringdon Street during his years training as a barrister. Livingstone will visit India in November to demonstrate the interest in the city's relationship with India.Of London's population, over 430,000 are of Indian origin. India is the second largest country with inward investment projects in London. 212,000 Indians visited London in 2006. 4,000 students study in London contributing 60 million pounds to London's economy.

Hindu followers in Australia double

The '06 census by the Australian Bureau of Statistics confirmed that followers of Hinduism in Australia have doubled since 1996 and now comprise 0.7 percent of the total population.Budhists have also doubled to more than 2 percent, Islam followers make up 1.7 percent and Judaism 0.4 percent. Christians remained the largest group.

Emigration from India started over 2,500 years ago !

The emigration of people from India has been recorded as starting over 2,500 years ago when adventurers travelled by sailboat to the shores of Africa, South East Asia and the Far East. The voyagers negotiated the ocean waters to venture to Java, Sumatra, Cambodia, Vietnam, Bali and the Philippines tackling the monsoon winds and taking with them to their new lands, a rich contribution of culture, calligraphy, methods of cultivation, handicrafts and new industries, all in the calmness and peace of the time. Later the abolition of slavery prompted the occupying European countries of England, Holland, France, Portugal and Spain with their accompanying military forces, to move Indian labour to the sugar plantations of Jamaica, South Africa and Mauritius, and builders of the Kenya Railway were sourced from the Punjab. Farmers were needed in Canada and were taken there from the Punjab around the 1930s.
Further along history Britain and the US needed factory workers and skilled professionals and admitted Indians in substantial numbers from the 1960s onwards.Most recently at the end of the twentieth century Indian info tech workers went over to fix the dreaded Millennium Bug in computer systems, followed by thousands of IT professionals. This is the new generation of the Indian diaspora who continue to maintain their links with India through their way of life, culture, food and religions.