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Fraught by frauds The recent high profile fraud cases in our banking sector have deeply jolted all the stakeholders and have once again highlighted the vulnerability of our banks, specially while dealing with corporate loans and celebrity industrialists who manipulate the banking system by conveniently bypassing protective mechanisms. Successful economies minimise corruption, embezzlement and frauds which are characteristics existing everywhere but unfortunately for us, the instances of banking frauds which are a silent killer of our economy only seem to be on the rise as a result of corruption, inefficient regulations, lack of oversight, business pressures to meet unreasonable targets, lack of tools to identify potential red flags and collusion between employees and external parties. Whether it’s issuance of fake LoUs by two junior employees (as in case of PNB) or conflict of interest on the part of CEO ICICI Bank, it’s amply clear that our banking industry is confronted with deep internal threat wherein anyone from a CEO to lower level employees can manipulate and defraud their bank while both internal and external auditors look the other way. Such high profile frauds , scams and wilful defaults have a detrimental impact on the economy and ease of doing business, employees morale and investors' confidence. Indian banking has always been a soft target for fraudsters and in recent years the frequeny, volumes and gravity of frauds and wilful defaults have only seen a rise. We as a developing nation cannot afford such setbacks and need to get our act together. Fraud risk management needs to be given utmost importance and diligence in order to prevent and detect fraudulent activities thereby limiting the losses incurred. The banks need to be more agile and think ahead of the fraudsters. A comprehensive and effective anti frauds programme comprising preventive, detective and responsive mechanism can enable banks to identify weaknesses inherent to their processes and identify new threats. Over the years, frauds and scams in this sector have become more sophisticated and hence, their redressal is a major concern. Banks need to make themselves secure, become vigilant and build resilience in order to beat fraudsters in this cat and mouse chase. It is important for banks and financial institutions to understand that fraud investigations require specific skills like forensic accounting and technology to collect adequate evidence which needs to be relevant and comprehensive to be admissible in a Court of Law. Other important aspects like source of evidence, legitimate witness, electronic evidence can add credibility to the case. If these are not in line with legal requirements, the organisations will not have confidence to take legal recourse against the fraudster which can also be the reason why many banks may not be reporting all their cases to law enforcement agencies.
Today, on this first day of 2018, when everyone is busy wishing their near and dear ones 'a very happy and prosperous New Year 2018', it's the Muslim women who have the most to smile about as they find liberation and empowerment with the help and support of the present Govt-their newfound ally. Muslim women have , for long, experienced pain and difficulties due to the practice of Triple Talaq. But now, after a long fight, this inhuman and evil practice has been abolished, bringing joy and relief to the Muslim women. Adding further to their rights, leading to happiness, they can now go for the Haj pilgrimage without 'mahram'(an adult, male blood relative or husband). For the past 70 years, Muslim women have been suffering the injustice of the policy which allowed them to perform Haj only in the company of a male guardian. Such a restriction is not prevalent in many Islamic countries and the scrapping of this rule will have a far reaching impact on our image as a society. These two major steps , abolishing Instant Talaq and removal of the restriction of having a 'mahram' for Haj pilgrimage , will provide equal opportunity to Muslim women and will enable them to proceed simultaneously on the path of progress . KMLAWASSOCIATES, the best law firm in Delhi NCR provides expert legal services to women who suffer from gender based discrimination, either in family/society or workplace.
Adultery Law Biased Against Men A serving Brigadier of the Indian Army found guilty of committing adultery has been awarded 3 years RI and will also be cashiered from service while the consenting woman, who was an equal partner in the affair, got off Scot free. This recent incident once again raises the question , ' why is Sec 497 IPC biased against men?'What happened to to 'Gender Equality'? Wonder why no noise has been made by feminists who leave no opportunity and fight tooth and nail for 'equality' in status, rights and opportunities. A large number of groups, working in pursuit of gender equality, are mute on this issue where the man(adulterer) faces harsh and criminal punishment while the woman (adulteress) gets away without any punishment of equal nature and is rather shown as a victim. On 7Dec2017, the Supreme Court has agreed to re-examine the 157 yrs old law on adultery u/s 497 IPC which punishes men only. Sec 497 states ' whoever has sexual intercourse with a person who is and whom he knows or has reason to believe to be the wife of another man, without the consent or connivance of that man, such sexual intercourse not amounting to the offence of rape, is guilty of the offence of adultery, and shall be punished with imprisonment of either description for a term which may extend to 5 years, or with fine, or with both. In such case the wife shall not be punishable as an abettor.' The Supreme Court bench has said that 'Prima Facie, , sec 497 IPC grants relief to the woman (wife) by treating her as a victim'. But how/why is it that when adultery is committed by two consenting adults, one( male) is liable for criminal offence but the other (woman) is absolved?When a complaint is received from a man or woman that their spouse is involved in adultery, both the parties should be liable for equal consequences. Ordinarily, the criminal law proceeds on gender neutrality but it is missing in Sec 497 IPC which clearly discriminates against men and violates Article 14, 15 and 21 of our Constitution. The Supreme Court has issued notice to the Centre, seeking it's response in 4 weeks. It will be interesting to watch how and when the feminists will come out with their slogans and banners , demanding gender equality u/s 497 IPC also, which on the first view , is archaic and tantamounts to subordination of a woman when the Constitution confers equal status. KMLAWASSOCIATES is a peerless law firm in New Delhi NCR , providing swift and effective legal advice and legal services. Our experienced and professional team combine their legal expertise to ensure that our clients-individuals or businesses , receive smooth and best possible legal solutions. KMLAWASSOCIATES is the most reliable law firm in Delhi NCR for Matrimonial matters like divorce, maintenance, child custody, domestic violence etc.
Ricky Martin says “I do”. ‘Livin' la vida loca' singer Ricky Martin has announced to the world that he’s now a husband to his male partner Jwan Yosef and this news couldn’t have come at a better time for the LGBTQ community in India when Sec 377, IPC is being reconsidered by the Supreme Court. On 8Jan, the Supreme Court has said that it will re-examine it’s 2013 verdict upholding Sec 377IPC which criminalises consensual Physical relationship between two gay individuals, violating fundamental rights under Art 21(right to life) and punishes the offender with punishment that is equal to rape u/s 376. The Supreme Court has agreed to re-examine Sec 377IPC after it legalised right to privacy as a fundamental right in Aug 17. Today, there seems to be a ray of hope for the LGBTQ community who may finally be able to come out of the closet and live a life of privacy, with dignity and equality. KMLAWASSOCIATES is the best law firm in Delhi NCR and is top rated in all types of litigation. The legal team of KMLAWASSOCIATES is poised to handle matters pertaining to real estate, company and business law, family/marital disputes, IPR, Human rights and Privacy law, etc in New Delhi NCR.
ORANGE : THE NEW COLOUR OF DISCRIMINATION “Education is our passport to the future , for tomorrow belongs to the people who prepare for it today.” Said Malcolm X. Today, our nation is giving these words a whole new meaning by issuing passports based on educational qualifications. Citizens with ECR status in India, who have not been able to pass their 10th grade certification ( for whatever reasons), will be issued Orange passports. The idea appears to be good , time saving and will increase the pace of emigration process as the colour of the passport will make it clear if emigration clearance is required or not . But it comes with its own stigma .There must be other better ways by which the same can be achieved without revealing the educational standards of people. The Government and concerned authorities need to deliberate more before implementing this decision because it comes with a hint of discrimination as it seems to divide people on the basis of educational qualifications. It may also increase the vulnerability of orange passport holders as it announces to one and all that they are not well educated. Colour of passport selected by a country is a matter of national identity. The members of EU have Red passports, many Islamic countries like Morocco, Saudi Arabia and Pakistan have Green coloured passports due to religious significance. Blue passports have been selected by members of the ‘New world' and Black passports by countries like Zamibia, Newzealand as black tends to look more official and is also considered as their national colour. India presently has passports in three colours ; Maroon for diplomatic, White for Govt. Employees who travel on national duty and Blue for all others. One can only hope that this new proposal of adding another colour 'orange' has nothing to do with the idea of ‘ saffronisation'. KMLAWASSOCIATES is an ace law firm in Delhi NCR for corporate, commercial and business legal matters. KMLAWASSOCIATES has achieved outstanding success in all types of litigation like divorce, family and property disputes, NI Act, money recovery, real estate, etc. The unrivaled team of KMLAWASSOCIATES, led by a thorough professional provides sound legal advice and representation in courts of Saket, Rohini, Tishazari, Karkardooma , Patiala House, Dwarka as well as Delhi High Court and Supreme Court.
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