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Regulation of VC funding in India: A critical analysis

This blog post has been authored by Ms. Prerna Kashyap

INTRODUCTION

The venture capital industry evolved in the late 1980s in India. Back in 1973, a committee on Development of Small and Medium Enterprises highlighted the need to foster venture capital as a source of funding new entrepreneurs and technology. The Government of India took a policy initiative and announced guidelines for venture capital funds (VCFs) in 1988 on the basis of a study undertaken by the World Bank. Slowly and gradually various rules and regulations were made to deal with the venture capital funding in India.[1]

VENTURE CAPITAL  

Venture capital (VC) funds start-ups and early-stage emerging companies having significant potential for growth[2] but involves high risk.

Section 2(z) and 2(za) of the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012 (“AIF Regulations”) defines “venture capital fund” as an “Alternative Investment Fund which invests primarily in unlisted securities of start-ups, emerging or early-stage venture capital undertakings mainly involved in new products, new services, technology or intellectual property right based activities or a new business model and shall include an angel fund as defined under Chapter III-A” and “venture capital undertaking” as “a domestic company which is not listed on a recognised stock exchange at the time of making investments” respectively.

REGULATORY FRAMEWORK

Securities and Exchange Board of India (SEBI) is the nodal regulator for VCFs to provide a uniform, hassle free, single window regulatory framework. Various regulations such as the SEBI (Venture Capital Funds) Regulations, 1996 (“VCF Regulations”) and the SEBI (Foreign Venture Capital Investor) Regulations, 2000 have been issued on the recommendation of the Chandrasekhar committee fostering growth in the industry. As per the SEBI report relating to activities of VCFs until June this year, a total of Rs. 22,563.88 crores VCF has been raised.[3]

THE SECURITIES AND EXCHANGE BOARD OF INDIA (VENTURE CAPITAL FUNDS) REGULATIONS, 1996 AND SECURITIES AND EXCHANGE BOARD OF INDIA (ALTERNATIVE INVESTMENT FUNDS) REGULATIONS, 2012

AIF Regulations has been brought in order to replace the VCF Regulations and has been notified vide PR no. 62/2012[4] dated May 12, 2012. As per the AIF regulations, the funds registered as VCF under VCF Regulations shall continue to be regulated by the same till the existing fund or scheme managed by the fund is wound up and such funds shall not launch any new scheme after notification of these regulations. VCF may seek re-registration, subject to approval of their investors.[5]

Registration of Venture Capital Fund

VCFs are included in “Category I Alternative Investment Fund”[6]. No entity or person shall act as a VCF unless it has obtained a certificate of registration from the SEBI. Form ‘A’ lays down the instructions for the application for the grant of the certificate. Eligibility criteria are prescribed for the purpose of the grant of certificate to an applicant. Vide Explanation[7] of sub- clause (a) of sub- regulation (4) of regulation 3 of the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012, states that a VCF can be organized in the form of a trust or a company.

Investment Conditions and Restrictions

The AIF Regulations specify that VCFs shall state investment strategy and any material alteration to the fund strategy shall be made with the consent of unit holders; they shall raise funds through private placement by issue of placement memorandum and may launch schemes subject to filing of placement memorandum. The minimum tenure is prescribed as 3 years. Units of close- ended VCFs may be listed on the stock exchange.[8]

VCFs may invest in securities of companies incorporated outside India subject to conditions issued by the Reserve Bank of India and the SEBI. They shall invest not more than 25% of investable funds in an investee company whereas a large value fund for an accredited investor may invest up to 50% of investable funds in an investee company. They shall not offer their units to other VCFs if they are investing in units of other VCFs.

If a VCF is investing in associates/ units of VCFs managed by manager/ sponsor/by associates, approval of 75% of investors by value for investment is required. The terms of co-investment by a manager/ sponsor/ co-investor, shall not be more favourable than the terms of investment of the VCF. Un-invested portion of investable funds and divestment proceeds pending for distribution to investors shall be invested as prescribed in regulations.

Investment by VCFs in the shares of entities listed on institutional trading platforms shall be deemed to be investment in ‘unlisted securities’ for the purpose of these regulations. They shall invest in investee companies, venture capital undertaking (VCUs), special purpose vehicles, limited liability partnerships (LLPs) in units of other Category I AIFs of the same sub category or in units of Category II AIFs as specified in this regulation. They shall not borrow funds & shall not engage in leverage except for meeting temporary requirements. They shall invest at least 75% of the investable funds in unlisted equity shares or equity linked instruments of VCU or in companies listed or proposed to be listed on SME exchange and this shall be achieved by the VCFs by the end of its life cycle. For the purpose of market making, the VCF is required to enter an agreement with a merchant banker.[9]

Angel fund is a sub-category of VCF that raises funds from angel investors and invests in accordance with the prescribed provisions[10].

VCFs are exempted from certain provisions of Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 in respect of companies listed or proposed to be listed on SME exchange.[11]

SECURITIES AND EXCHANGE BOARD OF INDIA (FOREIGN VENTURE CAPITAL INVESTORS) REGULATIONS, 2000
Registration of Foreign Venture Capital Investors

The applicant shall make an application to the Board in Form A along with the application fee.[12] The applicant should be granted the necessary permission by the RBI to make investments in India. Eligibility criteria are prescribed for the purpose of the grant of certificate to an applicant.[13]

Investment Conditions and Restrictions for a Foreign Venture Capital Investor

Investor shall disclose his investment strategy and it can invest all his funds in one VCF.

A Foreign Venture Capital Investor (FVCI) shall make investment in at least 66.67% of the investible funds in unlisted equity shares or equity linked instruments of VCUs or make an investment in not more than 33.33% of the investible funds by way of:

  • subscription to initial public offer of a VCU proposed to be listed;
  • debt instrument of a VCU in which the FVCI already has equity investment;
  • preferential allotment of equity shares of a listed company subject to 1 year lock-in period.[14]
Obligations of a Foreign Venture Capital Investor

FVCI shall maintain books of account and records for a period of 8 years. It shall appoint a custodian for custody of the securities who shall monitor the investment. It shall furnish periodic reports to the SEBI and information as required/ called for by the SEBI.  It shall appoint a branch of a bank approved as designated bank by the RBI for opening of the foreign currency denominated account.[15]

SEBI MASTER CIRCULAR AND CIRCULARS

The SEBI master circular and circulars ensure an effective regulatory framework for VCFs and the SEBI. The SEBI specified guidelines stating that AIFs may invest in securities of companies incorporated outside India subject to the condition that they may invest in equity and equity linked instruments only of off-shore VCUs, subject to overall limit of USD 1500 million and mandating benchmarking of the performance of the VCFs which will help investors in assessing the performance of the VCF industry.[16]

In regard to the validity period of approval granted by the SEBI to VCFs for overseas investment, on recommendation of the Alternative Investments Policy Advisory Committee, it has been decided to reduce the time limit from 6 months to 4 months.[17]

VCFs are required to file an application to SEBI for allocation of overseas investment limit. In relation to an overseas investee company a VCF shall:[18]

  • Invest in such a company, which is incorporated in a country whose securities market regulator is a signatory to the International Organization of Securities Commission’s Multilateral Memorandum of Understanding (MoU) or a signatory to the bilateral MoU with the SEBI.
  • Not invest in a company, which is incorporated in a country identified in the public statement of the Financial Action Task Force.

VCFs shall furnish the sale/divestment details of the overseas investments to the SEBI in the format prescribed and an undertaking for the proposed investment shall be submitted to the SEBI by the trustee/board/designated partners of the VCFs.[19]

SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS 2018

The regulations provide that FVCIs may contribute to meet the shortfall in promoters’ minimum contribution, subject to a maximum of 10% of the post-issue capital without being identified as promoter(s)[20] and contributions made by FVCIs in specified securities shall be locked-in for a period of 18 months from the date of allotment of the further public offer.[21]

SECURITIES AND EXCHANGE BOARD OF INDIA (SUBSTANTIAL ACQUISITION OF SHARES AND TAKEOVERS) REGULATIONS, 2011
Exemption in case of substantial acquisition of shares or voting rights

A VCF or a FVCI registered with the SEBI, by promoters of the target company pursuant to an agreement between such VCF or FVCI and such promoters, who has acquired and holds shares or voting rights(VRs) and exercises 25% or more of the VRs in the target company but less than the maximum permissible non-public shareholding[22], shall be exempt from the obligation to make an open offer[23] to acquire within any financial year additional shares or VRs in the company and exercise more than 5% of the VRs.

A VCF established in the form of a trust/ company/ body corporate and registered under the VCF Regulations is not considered as an investment vehicle for the purpose of the Foreign Exchange Management (Non-debt Instruments) Rules, 2019.[24]

INCOME-TAX ACT, 1961
Applicability of Angel Tax

Recently, the Central Board of Direct Taxes has issued an amended Rule 11UA (2) of the Income Tax Rules and it provides that for Section 56(2)(viib) of the IT Act, where a taxpayer is a VCU who has received consideration from the issue of unquoted equity shares to a VCF, the price of such equity shares corresponding to such consideration be taken as the fair market value (FMV) of the equity shares for resident and non-resident investors provided that:

  • the consideration from such FMV does not exceed the aggregate consideration received from a VCF; and
  • the consideration received by the undertaking from a VCF, within 90 days before or after the date of share issuance.[25]
WINDING UP OF A VENTURE CAPITAL FUND

Intimation of the winding up of the VCF should be given to the SEBI. VCF can be wound up in the following circumstances:[26]

If the VCF is set up as a trust, it shall be wound up:

  • When the tenure of the VCF or the scheme launched by the VCF, as mentioned in the placement memorandum is over; or
  • If in the opinion of the trustees and in the interest of the investors the VCF should be wound up; or
  • If 75% of the investors in the VCF pass a resolution at a meeting that the VCF should be wound up.

If the VCF is set up as a LLP, it shall be wound up as per the Limited Liability Partnership Act, 2008. If the VCF is set up as a company, it shall be wound up in accordance with the provisions of the Companies Act, 1956. If the VCF is set up as a body corporate, it shall be wound up as per the statute under which it is constituted.

CONCLUSION

India has come a long way in the journey of venture capital. With the increase in the number of start-ups, more and more investment opportunities are coming up in the sectors such as biopharmaceuticals, software, financial institutions and investors and so on. This shows the significance of flexible and up-to-date regulations incorporating latest developments. The Securities and Exchange Board of India issues various circulars and directions supplementing the current regulations and this helps in regulating and facilitating the influx of venture capital investments made by residents and non- residents in India.

[1] Report of Advisory Committee on Venture Capital.PDF (sebi.gov.in)

[2] Rebecca Baldridge, Understanding Venture Capital, dated 8 June, 2023 https://www.forbes.com/advisor/investing/venture-capital/; accessed on 17 October, 2023.

[3] SEBI | Data relating to activities of Alternative Investment Funds (AIFs), accessed on 14 October, 2023.

[4] SEBI | SEBI notifies SEBI (Alternative Investment Funds) Regulations 2012, accessed on 14 October, 2023.

[5] Sub- regulation (2) of regulation 3 of the SEBI (Alternative Investment Funds) Regulations, 2012.

[6] Clause (a) of sub- regulation (4) of regulation 3 of the SEBI (Alternative Investment Funds) Regulations, 2012.

[7] Explanation.─” For the purpose of this clause, Alternative Investment Funds which are generally perceived to have positive spillover effects on economy and for which the Board or Government of India or other regulators in India might consider providing incentives or concessions shall be included and such funds which are formed as trusts or companies shall be construed as “venture capital company” or “venture capital fund” as specified under sub-section (23FB) of Section 10 of the Income Tax Act, 1961.”

[8] Chapter II, Registration of Alternative Investment Funds of the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012.

 

[9] Ibid.

[10] Sub- regulation (1) of Regulation 19A of the SEBI (Alternative Investment Funds) Regulations, 2012.

[11] Sub- clause (c) of sub- regulation (3) of regulation 16 of the SEBI (Alternative Investment Funds) Regulations, 2012.

[12] Regulation 3 of the SEBI (Foreign Venture Capital Investors) Regulations, 2000.

[13] Regulation 4 of the SEBI (Foreign Venture Capital Investors) Regulations, 2000.

[14] Regulation 11 of the SEBI (Foreign Venture Capital Investors) Regulations, 2000.

[15] Chapter IV of the General Obligations and Responsibilities of the SEBI (Foreign Venture Capital Investors) Regulations, 2000.

[16] SEBI Master Circular No. SEBI/HO/AFD/PoD1/P/CIR/2023/130 dated July 31, 2023, available at: https://www.sebi.gov.in/legal/master-circulars/jul-2023/master-circular-for-alternative-investment-funds-aifs-_74796.html, accessed on 13 October, 2023.

[17] SEBI Circular No. SEBI/HO/AFD/PoD/CIR/P/2023/137 dated August 04, 2023, available at: https://www.sebi.gov.in/legal/circulars/aug-2023/validity-period-of-approval-granted-by-sebi-to-alternative-investment-funds-aifs-and-venture-capital-funds-vcfs-for-overseas-investment_74979.html, accessed on 17 October, 2023.

[18] SEBI Circular No. SEBI/HO/AFD-1/PoD/CIR/P/2022/108 dated August 17, 2023, available at: SEBI | Guidelines for overseas investment by Alternative Investment Funds (AIFs) / Venture Capital Funds (VCFs), accessed on 14 October, 2023.

[19] Ibid.

[20] Sub-regulation (1) of regulation 14 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations 2018.

[21] Clause (a) of regulation 115 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations 2018.

[22] Sub- regulation (2) of regulation 3 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

[23] Sub- clause (f) of sub- regulation (4) of regulation 10 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

 

[24] Reserve Bank of India – Master Directions (rbi.org.in)

[25] Alerts: Direct Tax Alert – CBDT notifies amended Valuation Rules in respect of Angel tax, available on Direct Tax Alert – CBDT notifies amended Valuation Rules in respect of Angel tax – BDO, accessed on 18 October, 2023.

[26] Regulation 29 of the SEBI (Alternative Investment Funds) Regulations, 2012.

 

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9 Best Career Options for Law Graduates in India

9 Best Career Options for Law Graduated in India

A career in law can be prestigious, intellectually challenging, personally fulfilling and financially rewarding. Therefore law is considered as one of the elite professions. It is often said- You can do anything with a law degree…..” Traditionally, a law student was expected to practice litigation after graduating from the law school. However, with time, the career opportunities available to law graduates increased. Now, career in law opens up a plethora of possibilities. This makes it difficult for the law graduates to determine which career path to take. The following are the nine best career options available to law graduates in India. Let’s see what law as a career has in store for law graduates!

Litigation as an independent practitioner

Litigation involves representing clients in the court of law. There are certain requirements which you need to fulfill before practicing in the court. These include, an LL.B. degree, the ‘Certificate of Practice’ after appearing the All India Bar Exam and enrollment in the Bar Council of the state where you wish to practice. This process makes you an “advocate”!

Certain qualities give you an upper hand as an advocate. These include, firstly, the ability to communicate with the client, secondly, the flair of persuasiveness (this helps in creating an impact on the presiding Judge) and lastly, honed organizational and managerial skills (as litigation involves getting loads of paperwork completed on time).

Pros:

  • You are your own boss
  • You decide how to get things done and in what pace

Cons:

  • A lot of time and effort is required to establish yourself
  • You have to start from scratch
  • You tend to be financially unstable in the initial years of practice
Law firm

One can also enter the field of litigation through a law firm. Law firm is a partnership firm which hires legal professionals to represent clients. A law firm either specializes in one area of practice or practices in different fields.

It is a trend now that law undergraduates intern under one law firm over a period of internship breaks and eventually, the law firm provides them pre-placement offer (PPO). This is a win-win situation for both the parties because the law firm hires a person who is well acquainted with the functioning of the firm and the expectations attached to it and the graduate gets the employment opportunity served in a platter.

In a law firm, you can either do the legal research, drafting and paper work or represent the client in the court. For the latter, you are required to be an advocate first.

Pros:

  • Stable remuneration
  • Organized procedure and set-up for everything

Cons:

  • A lot of work burden
  • You need to get things done the way your senior wants
  • Late working hours
Corporate field

Every company or business entity carries on their day-to-day practices in which legal intricacies are involved. Be it formulation of a contract, or advise on the legal implication of any action, the advise of a legal professional is often appreciated.

The work in the legal department of a corporate office involves drafting contracts, negotiations, advising on matters relating to mergers, insolvency, ensuring corporate compliances etc.

One has to search for a vacancy in the legal department of a company and then apply accordingly. This is mostly done by visiting their official website and emailing the application documents to the HR Manager of the company.

Pros:

  • Good income
  • Stable working hours
  • Less workload

Cons:

  • Monotonous work
  • Continuous desk job
  • The work profile is limited to the corporate sector
Judicial services

Another career option in law for fresh graduates is the judiciary. This includes appearing for Judicial Services Examination of the respective states, and if selected, act as a Civil Judge or a Judicial Magistrate.

The examination includes questions relating to current affairs, English, substantive and procedural civil and criminal law, property law, contract law etc.

Pros:

  • Decent starting salary
  • Increase in salary with up-gradation of post
  • Other government perks like allowances, government accommodation, official vehicle etc.

Cons:

  • Limits on public behaviour
  • Monotonous work
  • Constant public scrutiny
  • Limited social life
 Academics and research

Academics and research as a career in law in India include pursuing LL.M. and Ph.D. in your area of interest and joining a law school as an Assistant Professor of Law.

The best-suited students for pursuing their legal career in academia are the ones who have performed really well in their undergrad and are inclined towards teaching and research.

LL.M. can be pursued either domestically or internationally. You are required to appear for CLAT for Post Graduates for pursuing LL.M. in India in one of the National Law Universities. On the other hand, you are required to give one of the English proficiency tests (like TOEFL, IELTS) and apply to the respective colleges/ universities for pursuing LL.M. from outside India.

Pros:

  • Decent salary
  • The constant learning experience
  • Flexible working hours
  • Less work burden

Cons:

  • Monotonous job (if you are not really into teaching)
  • Expectations to discharge non-academic functions
  • Lack of funding for legal research in India
Journalism

Media and journalism is another career option for law graduates as legal education helps you to improve your writing, narration, and researching skills. These skills are indispensable in the world of journalism. Furthermore, you will always have leverage in reporting law-related matters.

Pros:

  • Decent pay
  • Intellectually challenging
  • Helps in developing contacts with people of different fields

Cons:

  • Moderate salary
  • Limited career growth
  • Limited to the four walls of the court
Civil services

Law graduates often consider civil services as a lucrative career option. The Union Public Services Commission (UPSC) and the State Public Services Commission (SPSC) conduct the Civil Services Examinations every year.

Since a significant portion of the syllabus (law-related) is covered in their undergraduate studies, law graduates have an upper hand in the civil services examinations.

Pros:

  • The reputation as a result of being a civil servant
  • Hefty remuneration
  • The perks of being a public servant like government accommodation, official vehicle, travel allowances etc.

Cons:

  • Lots of hard work
  • Over attentiveness
  • Office politics in bureaucracy
Public Prosecutor

A Public Prosecutor is the person who represents the victim, on behalf of the state, in a criminal matter.

The following is the eligibility criteria for the post of public prosecutor in India-

  • Age group of 35-45 years
  • A law degree
  • Minimum 7 years of practice in law as an advocate
  • Cleared the examination conducted by the PSC for the post of public prosecutor, and
  • Cleared the interview round

Pros:

  • Fixed monthly salary (not on a case-by-case basis)
  • Government perks

Cons:

  • Overburdening of cases
  • Often the salary provided in much lesser compared to the workload
Judge Advocate General (JAG) Officer

The Major who is the legal and judicial Chief of the Army holds the post of JAG in the Indian Army. A JAG officer assists the presiding officers of the court-martial in interpreting and applying military laws.

The requirements for the post of JAG officer are-

  • Indian national
  • Minimum 55% in LL.B.
  • Aged between 21-27 years
  • Eligible for registration in Bar Council of India or State Bar Council

Applicants are required to apply online if there is a call for recruitment. The next step involves the shortlisting of candidates. Two psychological aptitude tests (interview) and a medical fitness test are conducted at the designated test centres all across India for the shortlisted candidates.

Pros:

  • Hefty pay
  • Decent stipend during the training period
  • Government perks and allowances

Cons:

  • Difficult to get through

Any career in law has its own benefits and disadvantages. One option might fit someone really well and prove to be ill-fit to the other. Ultimately, it all boils down to how well you adjust to the system. Therefore, you should always try your hand at whatever appeals to you.9 Best Career Options for Law Graduates in India

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How to prepare for CLAT

Author: Rishima Rawat

The Common Law Admission Test (CLAT) is the entrance exam for various national law universities (NLUs) in the country. If you wish to study law from some of the best universities in India, you have to qualify for this test. Over the years, law as a career has become popular among students. Automatically, the number of applicants for CLAT has drastically increased. In 2019, more than fifty thousand candidates appeared for a select number of seats in the NLUs. So you can imagine how tough the competition is. This is not to say that it is very difficult to ace CLAT. If you have a logical mind and can analyze scenarios, you can score well with a disciplined and dedicated preparation. The changes in the pattern have been introduced to encourage students to focus on applying their minds rather than rote learning. The aim is to make the paper application-based, as the field of law is more about application than memorizing. Since this will be the first time that the new pattern will be tested, every candidate is at the same level. Nobody knows exactly what the paper is going to be like.

As per the official website, the CLAT undergraduate (UG) paper is divided into five sections:

  1. English Language
  2. Current Affairs, including General Knowledge
  3. Legal Reasoning
  4. Logical Reasoning
  5. Quantitative Techniques

While the Consortium is yet to release a model paper, the kind of questions that will be asked has been explained by Prof. Faizan Mustafa, former president of the Consortium, currently a permanent member of the Consortium’s Executive Committee and Vice-chancellor of NALSAR, Hyderabad. He has repeatedly emphasized that the exam will not test a student’s memory and they have no reason to worry

Let’s take each section first. We will follow it up with some general tips and tricks.

  1. English Language

To improve your command over the language, there is no better way than to read as much as you can. Read novels, magazines, the editorial and ideas sections of newspapers and online articles. Read on topics that are out of your comfort zone. For example, if you have not read a non-fiction book yet (maybe because you don’t like the genre), pick up one such book and read it. Understand what it says. Mark the words that you have not read before and find their meaning. This goes for all the reading that you do. It will help you improve your vocabulary. The questions in the exam will be based on the context of the given paragraph. So it will be easier for you to understand the meaning of the words used. If your grammar is weak, practice exercises from Wren & Martin or any other good English language book of your choice.

When reading articles or newspapers, practice reading fast while also understanding the text. As a law student and future lawyer, you will be expected to do tonnes of readings. It is better to get into practice as early as you can. To give you a more proximate cause, all sections of the CLAT paper will have passages that you will have to comprehend and subsequently answer questions. Since you will only have limited time, you cannot spend more than a set number of minutes on a passage. Here is where your practice of swift and effective reading will come into play (provided you have been sincere in your preparation).

  1. Current Affairs including General Knowledge

There will be no questions on static GK in CLAT 2020. It will only test current affairs. For that, you must read newspapers such as the Hindu and Indian Express. There are plenty of online resources that offer daily current updates. Stay aware of all the legal developments taking place. Write down the events daily and revise them before going to bed.

  1. Legal reasoning

The focus of this section will be on a student’s ability to draw inferences from the given paragraph. Your knowledge of legal maxims will not be tested. Like previous editions, there will be questions where you will be given a legal principle and a fact situation. You will have to apply the principle to the given facts and arrive at an answer. These questions can be very confusing at times. Practice these as much as you can. Always remember to stick to the given principle and not apply your external knowledge.

  • Logical reasoning

This section remains unchanged. It will also contain paragraphs and accordingly you will have to answer the questions. Solve logical sections of not just previous CLAT papers but also other exams. LSAT papers can offer some serious preparation for this section. You can try to attempt the reasoning section of CAT papers. But since its level is way beyond CLAT, if you are able to solve even a few questions, you should be happy. Read the paragraphs carefully. Understand its tone and meaning before answering the questions.

  1. Quantitative Techniques

This section has undergone a major change since previous editions of the exam. Earlier, questions were based on topics covered until standard 10th. This time, you will be given a graph, table or pie chart and will have to answer questions based on the data provided therein. The questions will still be based on mathematics up to standard 10th.

Things will become clear once the Consortium releases a model question paper. Till then, keep practicing while keeping the above tips in mind.

Moving on to some general tips. Every candidate has a different way of preparing. What works for someone else might not work for you and vice versa. So figure out your own schedule and strategy and test it while taking mocks.

  • Use the internet wisely. There are numerous resources available for preparation. If you are not going to any coaching center, you can subscribe to online materials.
  • Since the test is offline, download a copy of a standard OMR sheet and always practice on it. Take as many mocks as you can. They are the real indicators of your performance. Analyze your mistakes. See where you went wrong. Figure out your strengths and weaknesses. Give some more time to your weak areas and address the issues.
  • Time yourself. Depending on the number of questions in each section, decide how much time you will spend on that section. Formulate a strategy so that you are able to complete all the questions in time.
  • Having stated the above point, you must be careful of negative marking. Do not go on a guessing spree. It may not always work. A difference of even 0.25 marks can drastically lower your rank (and change your preferred college).
  • Speak to people who have written the exam before you. It helps. Ask them what they did during their prep. Implement it in your prep to see if it works for you. What worked for them may not work for you. So you will have to try a few things before settling on one strategy. Since the pattern is new this time, you may have to formulate your own strategy. Once you have figured it out, stick to it in every mock that you take.
  • Whenever you prepare, focus on the quality of the preparation, not the number of hours. If you put in 3 hours of focussed preparation, it is as good as 6 hours of a distracted and disturbed prep.
  • Study group: If you have a circle of friends who are also preparing, form a group where you can study together for some time. Use that time to address doubts and discuss current events. It helps when everyone is positively competitive and wants everyone to do well. It keeps you disciplined. Try it out and see if it works.

While preparing for the test, do not lose sight of the fact that the Consortium has tried to make it easier for you. Do not take unnecessary stress. It is very important to stay healthy- eat well, sleep well. Do not sacrifice your health in the name of exam preparation. If you are overstressed, no matter how much you have prepared, you will not be able to perform on the final day. And that is what matters- how you perform in those 2 hours. The final two hours are a culmination of the process of your preparation. So trust the work that you have put in the preceding months. Do not leave room for regret where you may feel that you could have done better.

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Securing a Job at a Top Law Firm in India

Most law students dream of getting a job at one of the top law firms in the country. These firms pay enviable salaries and justifiably so for any fresher, this is one of the biggest attractions of working in a top firm. Legal education is expensive. People spend lakhs to get a good education. So it is comprehensible when you want to secure a high-paying job at a big firm. They pay you handsomely, allow you to work on million-dollar deals, you attend fancy corporate events and meet the top-notch people from the industry. This post is not about the work at law firms. It is, however, about what you can do to secure a job at one of these top law firms.

When we talk of top law firms in India, some names readily come to mind, viz AZB and Partners, Shardul Amarchand Mangaldas and Cyril Amarchand Mangaldas (the erstwhile Amarchand Mangaldas), L&L Partners, Khaitan and Co., and Trilegal, to name a few. There are other big firms that are highly sought after by students for internships and jobs. These six-seven firms generally visit the top National Law Universities (NLUs) for their campus placements. This day is called Day Zero but not everyone who sits for placements on this day gets an offer. There is a complete process of shortlisting CVs and group discussion. Many candidates get eliminated at this stage. Only the ones with good grades, a well-rounded CV and communication skills manage to qualify for the interview round.

Colleges, other than the top NLUs, have to rely on their internships and networks. Campus placements on Day Zero are one major advantage of the top NLUs. Students from other colleges have to perform well in their internships to have a shot at a job interview. We have covered how you can stand out in your internship in an earlier post. So when you secure an internship at one of the top firms, work towards getting yourself a job interview. This especially applies to students in their fourth year of college. This is your time to get a PPO. What are the things that will help you secure the job? Here, we list the essential qualities that you must develop if you want to land a job with a top-tier law firm.

Effective communication: Having ‘good communication skills’ is a thing of the past. You chose law as a career. You ought to have effective communication skills. You must know how to get your point across precisely and convince the other person. This is not just restricted to verbal communication. You must have strong writing skills too. A lot of work will be related to drafting various documents. Many students ignore drafting and research when these are some of the foundational skills that you must have. To help you develop them early, we offer some unique drafting courses. Our course evaluation includes a project assignment that compels students to research and analyze the given topic.

 Practical knowledge: Most law schools focus on theory. Very little attention is paid to practical industry knowledge. In this aspect, you have to rely on every available resource and opportunity that you get. Gain practical insights by interning as much as you can. It helps if you intern in a bigger city as there are more opportunities. Attend court proceedings, observe the procedure, ask questions when you do not understand something. Attend conferences and symposiums of subjects of interest. Interact with professionals working in those fields to gain practical insights. It is immensely important to prepare yourself for the job that you seek. Our courses are aimed at bridging this gap between theory and practice. They focus not only on the concept but also on the process of a particular transaction. For example, our course on Mergers and Acquisitions talks about the concept as well as the strategy and steps involved in a merger or acquisition. Likewise, there is a dedicated course on legal due diligence to help you get versed in the process and the purpose behind it.

 Long internships are the key: If you think that a month-long internship is enough to get you a job at the firm, you are mistaken. One month is a short time for you to showcase your skills and impress the partners. To tell them that you can add value to the firm, intern for a longer time. If your internship was only slated to last a month, negotiate with your partner and see if they allow you to extend it. You can also ask them if they will be willing to call you back for another internship. If they like your work, they will call you again. This way, you intern with the same team and get to know them and their work better. In turn, they also get to know your work ethic and whether you are a good fit for the team. This increases your chance of landing a job with them.

 Networking: Yes, the work you do during your internship is important. But so is networking. This does not mean that you go around talking to everyone in the office. What it essentially means is that you build a rapport with your team and stay in touch with them even after your internship is over. Interact with your team members. Work well with them. Show them that you are a good team player. Keep in touch with them (and not just for asking for favors). If they come across an opportunity for you, they will let you know. But this will only happen if they know you. You cannot appear suddenly in 2020 and ask a person you interned under in 2018 if there is a vacancy in their team.

Your aim during your internship at these top firms should be to get a PPO. For this, you will first have to intern with them. If they like you and your work, they will call you for another internship. If you perform well there, they may interview you and offer you a PPO. Of course, the road is easy if you have an aunt or uncle who knows the partner and can get you in by making a few calls. But if not, you will have to go through the whole process and work really hard to secure that job. Thankfully, you have our resources to help you develop all the skills that you need. Start working now and you will get your desired job!

 

 

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CLAT 2020- Everything You Need to Know

 

The Common Law Admission Test (CLAT) is the gateway to national law universities (NLUs) in the country. Currently, there are 22 NLUs that will be participating in CLAT 2020. It is conducted by the Consortium of NLUs that was established in 2017. The exam will be held on 10 May, 2020. It will be conducted offline. The official notification will be released in the last week of December. The application process will commence from 1 January, 2020.

ELIGIBILITY:

 Age limit:

For both undergraduate (UG) and postgraduate (PG) levels, there is no upper age limit.

Education Qualifications:

Undergraduate (UG): The qualifying examination is 10+2 or an equivalent examination. A candidate must have secured a minimum of 45% marks or its equivalent grade in case of candidate belonging to General / OBC / PWD / NRI / PIO / OCI categories. In the case of a candidate belonging to SC/ST categories, he/she must have secured 40% marks or its equivalent grade. The result of the qualifying examination (i.e., 10+2) shall be submitted by the candidate at the time of admission failing which the candidate shall be ineligible for admission to the Course.

Those who are appearing in the qualifying examination in March/April, 2020 are also eligible to appear in CLAT 2020 examination. However, they shall be required to produce evidence of their passing the qualifying examination at the time of admission. If they fail to do so, they shall lose their right to be considered for admission.

Postgraduate (PG): PG candidates will require an LLB degree or an equivalent examination. A candidate must have secured a minimum of 55% marks or its equivalent grade in case of candidates belonging to General/OBC/PWD/NRI/PIO/OCI categories. For SC/ST candidates, they must have secured a minimum of 50% marks or its equivalent grade. Those candidates who are appearing in the qualifying exam in April/May, 2020 are also eligible to apply.

Tie-breaker in case of equal marks in UG exam: If students score equal marks, then the break of tie shall be decided as under:

  1. Higher marks in the component/section on legal aptitude in the CLAT 2020 exam;
  2. Higher age;
  3. Computerised draw of lots.

PAPER PATTERN: CHANGES INTRODUCED

Undergraduate (UG): This time, the pattern has been revised to encourage critical thinking in the students. For the UG level, the number of questions has been reduced to 150 from the earlier 200. This has been done to reduce the stress that students had to bear while answering 200 questions in 2 hours. While the number of questions has reduced, their pattern has been changed to comprehension-based. This means that each answer will require careful thought and analysis. The number of sections remains the same. There will be five sections as follows:

  1. English Language
  2. Current Affairs, including General Knowledge
  3. Legal Reasoning
  4. Logical Reasoning
  5. Quantitative Techniques

In all, there will be 150 multiple choice questions of one mark each to be completed in 2 hours. There will be negative marking of 0.25 marks for each wrong answer.

Postgraduate (PG): For the PG students, the pattern and number of questions remain the same. There will be 150 questions to be completed in 2 hours. There will be 100 multiple choice questions of one mark each. There will be 2 essay-type questions of 25 marks each. These will be based on law and contemporary issues and should be 800 words per essay. The subjects covered under the exam are as follows:

  1. Constitutional Law
  2. Other Law Subjects such as Contract, Torts, Criminal Law, International Law, IPR and Jurisprudence.

A wrong answer will attract a negative marking of 0.25 marks.

This time, a cut-off has been introduced at the PG level. Only those candidates who secure minimum 40% marks (35% in case of SC, ST and PWD categories) in the objective section will qualify to have their answer scripts evaluated for the descriptive section.

APPLICATION FEE: The fees for the application form is Rs. 4000/- for General/OBC/PWD/NRI/PIO/OCI candidates and Rs. 3500/- for SC/ST/BPL category candidates.

Additionally, candidates can get previous years’ question papers for Rs. 500/- (not included in the application fee).

DEADLINE: The last date to submit the completed application form and pay the fees is 31 March, 2020.

All the details can be found on the official website: https://consortiumofnlus.ac.in

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Corporate Law Courses that Will Help You Build a Successful Legal Career

Author: Rishima Rawat

Corporate law is arguably the most popular field among law students. The attractive packages, the zeal of being part of billion-dollar deals and working in corporate law firms add to its charm. It is not a single subject but a collection of various subjects. These deal with various legal issues involved in a corporate transaction. Apart from that, corporate law also addresses compliance and governance issues in running a business.  With so many aspects to it, it offers a diverse range of subjects that a student can learn and develop an interest in.

Corporate lawyers generally have a specialized area that they excel in. For example, there are mergers and acquisitions lawyers (M&A), banking and finance lawyers, private equity lawyers and so on. This is also how teams are divided into big corporate law firms such as the Amarchands (SAM and CAM), AZB and Trilegal. So there is ample scope to grow as a lawyer in the corporate sector.

Thousands of law students graduate every year. Most of them want to be a corporate lawyer. There is intense competition for limited jobs. Law firms look for people who demonstrate, among other things, superior knowledge and application than their peers. This is where you need to be above everyone else. You need to put in more work than the usual class-work. As we already know, corporate law is huge. There are so many different subjects that one can choose from. Enhelion offers you that option- choose whichever course you wish to study from its vast collection of online corporate law courses. Some of the unique features of these courses are:

  • Affordable and self-paced
  • Certified by law firms
  • Taught by industry professionals
  • Students are given books on the subject that are published by Bloomsbury India.
  • Top performers get an opportunity to intern at a law firm and learn practical skills

 Here are some of the corporate law courses that you can study to enhance your knowledge.

Certificate in Legal Aspects of Business

Once you have decided to pursue a career in corporate law, it is important to start with the basics. This course will introduce you to corporate law. It will also help you develop an interdisciplinary approach since corporate law involves an interaction between other different laws. The course covers intellectual property law, competition law, and information technology law. It also has a module on contract drafting.

Certificate in Commercial Contracts

The foundation of being a good corporate lawyer is having command over commercial contracts. You need to have a good understanding of them before venturing into the field. This course helps you achieve that. Here, you will learn what areas are important in a commercial contract and how you can balance it.

Certificate in Understanding Companies Act, 2013 

Every business in India has to abide by the Companies Act, 2013. As a student of law, it is important to know the important provisions that companies must comply with. This is a comprehensive course on this legislation. It will help you grasp the concepts related to business such as setting up a company, its management, and audit and corporate social responsibility.

Certificate in Drafting Techniques in Commercial Contracts

This course is helpful for law students as well as professionals. Drafting is an essential skill that comes with practice. A well-drafted contract is quite advantageous for a business. This course will help you learn not just the fine techniques of drafting commercial contracts but also how to negotiate their terms. These are must-have skills for any budding corporate lawyer.

Certificate in Mergers and Acquisitions and Joint Ventures

India witnesses a vast amount of business deals, both domestic and global. M&A and joint ventures form a considerable part of them. They involve millions of dollars and legal expertise. Hence, lawyers play a very important role in successfully closing them. In this course, you will learn about M&A and joint ventures- their requirements, due diligence, and terms and conditions.

Certificate in Private Equity Law

 Private Equity (PE) has gained traction over the years. As investments in Indian companies increase, the PE practice also grows. PE simple means direct investments in private companies that give the investor a stake in the company. With a growing number of startups, this is the module followed by many investors. This course is very relevant, especially in today’s business climate. You will learn about private investments, venture capital funding, what this capital is used for and the necessary legal documentation.

Certificate in Joint Venture Agreements

Joint ventures are a common practice in the business world. As a future corporate lawyer, an understanding of a joint venture is a must for you. The earlier you get it, the better. This course will give you a thorough insight into joint ventures- their meaning, purpose, nuances of a term sheet, how to conduct due diligence and the important clauses in a joint venture agreement.

Certificate in Foreign Direct Investment

We keep hearing about changes to the FDI rules and how it will affect companies transacting business in India. But what exactly is FDI and how does it work? This course explains it in detail. Prepared by industry professionals, it explains the theories related to FDI, the process of capital and revenue procurement and the different sectors where FDI is allowed.

Certificate in Mergers and Acquisitions

An M&A transaction takes months to complete. It is a complex process involving an enormous amount of legal documents. If you do not know how it works, you will easily be overwhelmed by the entire process. To avoid tackling this enormous but very important process for the first time at your job, it is advisable to take this intensive course exclusively on M&A. It details everything from its concepts, the steps involved in the transaction, negotiations, various applicable laws and post-merger management.

Certificate in Banking and Insurance Laws

The banking and insurance sector in India is a vital component of the economy. It affects the lives of common people. As law students, you should know the fundamentals of these two sectors of the economy. This course teaches the basics of banking and insurance and the laws that are applicable to them.

Certificate in Investment and Banking Law

Investment banking is a highly lucrative field. The banking and investment sectors together have propelled the Indian economy to new heights. This area of law offers some incredible opportunities to law students to make a mark in the corporate world. In this course, you will learn about investment banking and its practice in India and related concepts such as NBFCs, FDI and the role of SEBI.

Certificate on Insolvency and Bankruptcy Laws (IBC)

The introduction of the Insolvency and Bankruptcy Code (IBC) in 2016 was one of the major economic reforms in India. The aim is to expedite the process of insolvency and protect the interests of investors. It lays out a definite procedure for resolving insolvency and bankruptcy cases. Law students must know about this major reform and how it functions. You can take this course to learn about the IBC, the process, different individuals and entities involved in it (such as the resolution professional, corporate debtor and committee of creditors) and how the National Company Law Tribunal (NCLT) adjudicates the proceedings under IBC.

Certificate in International Business Law

 Businesses are going global. It is wise to widen your knowledge and learn about the international legal landscape. Courses at Enhelion are not just limited to indian law but also offer global perspective. This is one such course where you will learn about the international law aspects of business. You will get to learn about international corporate governance practices, international trade law and economics and market regulation. This will enable you to understand the issues related to international business and form a critical view.

Certificate in Law on Capital Markets

Capital markets is an important field that offers a number of growth opportunities. Almost all corporate law firms have dedicated capital markets teams. The subject witnesses constant developments as the business evolve rapidly. With this course, you will get an insight into the basic concepts of capital markets, the instruments involved (shares, debentures) and the powers and functions of the market regulator, the Securities and Exchange Board of India (SEBI).

Advanced Certificate on Insolvency and Bankruptcy Code

This is an advanced online course on the IBC. It will give you a detailed insight into the resolution process. You will learn about the role and responsibilities of the resolution professional, liquidator and operational and financial creditors. It also discusses the regulatory bodies- the National Company Law Tribunal (NCLT), the National Company Law Appellate Tribunal (NCLAT) and the Insolvency and Bankruptcy Board of India (IBBI). This will help you to understand the regulatory framework under the IBC.

Certificate in Company Law and Compliance

Corporate law requires a lot of compliances. You must know which is the applicable law in a particular transaction and what are the necessary compliances. This course will teach you about why compliance is extremely important and what are the day-to-day and annual compliances to be met with.

Certificate on Corporate Governance

Many companies, especially startups, have fallen prey to dubious corporate practices. While knowing what laws a business must comply with is important, it is equally vital to ensure that it follows the best practices of corporate governance. Knowledge about corporate governance is an added advantage for any corporate lawyer. In this course, you will learn about the meaning of corporate governance, its principles and its legal and regulatory aspects.

 Apart from the certificate courses, we also have diploma courses. These offer an intensive knowledge of the subject that can be helpful to further develop expertise. Here are the diploma courses on corporate law:

Diploma in Corporate Laws

This is a detailed course that discusses everything from the formation of a business and raising investment to corporate governance, capital markets, M&A, arbitration and dispute resolution. It interlinks corporate law to other laws and explains their interactions. The different laws include contract law, information technology law, intellectual property law and competition law. It also discusses policy issues such as FDI and management practices in business organizations.

Diploma in Contract Drafting

Drafting of contracts is a highly important skill that many students fail to develop. A major part of corporate law is drafting agreements. If you do not know how to draft a commercial contract, you cannot be a successful corporate lawyer. This is a structured and advanced course on contract drafting. It has detailed modules that discuss how to negotiate contracts, the essential principles of drafting, sample clauses, contract management and some mistakes that are common in drafting. It also contains very helpful templates on different kinds of contracts.

Diploma in Mergers and Acquisitions

This advanced course details the entire process step by step. It has modules on each step- negotiation, due diligence, finances and M&A strategy. It also discusses the post-M&A scenarios such as the value that is created and how corporate restructuring takes place after an M&A transaction. It also contains case studies on M&A that will help you to understand how theory is applied to practice.

Diploma in Insolvency and Bankruptcy Law

As stated above, IBC is one of the major reforms in the economic sector. It is important for you to know about it. If you want to make a career as a banking and finance lawyer, this is a very important course that will give you a thorough understanding of the IBC. You will learn the insolvency and liquidation processes, the offences and penalties and the amendments that have been carried out in the code.

Diploma in International Trade

With inter-trade relations between countries often making it to political discussions, it cannot be denied that international trade has become an integral part of foreign policy for countries. Its rising significance makes it an even more interesting subject. This course will provide you with a perspective on global trade. It has been designed to teach you the concepts and classifications in international trade, the international bodies that govern trade-relations between countries and anti-dumping policies.

 Conclusion 

All these online courses offer practical insights into the subjects. You will come across these concepts in any corporate internship that you do. There is a difference between knowing something and applying it in real-time. These courses will give you an edge above other interns who may not know anything outside the textbook. You will not be caught off guard if you hear a particular term related to any of these subjects or are asked to carry out a particular process. The earlier you develop these skills and put them to practice in your internships, the better result you will get once you step into the professional world.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Civil Law Courses That Will Prepare You for a Successful Legal Career

Author: Rishima Rawat

Civil law, as the name suggests, deals with non-criminal issues. These include contractual, property and family disputes, to name a few. It is one of the most important branches of law. A lot of work in the courts deals with civil laws and regulations. To fully understand court procedures and cases dealing with civil issues, a thorough understanding of various subjects is required. These are the ones that are constantly applied to real cases and are not necessarily taught in law school. Most law schools touch upon the important provisions of the Civil Procedure Code (CPC). However, it is a huge procedural code that cannot be fully understood without practice. Along with knowledge of the CPC and other laws, students should also know how to draft relevant documents.

A lot of aspects of civil laws involve applying them to practice. There exists a gap between the theoretical knowledge taught in law school and practical industry experience. One way to bridge this gap is by undertaking additional online legal courses on the subject. It not only provides practical insights but also gives you additional knowledge about provisions that you may not have studied as part of your curriculum. This post is about online civil law courses offered by Enhelion that you can enrol in to get some valuable insights.

Certificate on Civil Procedure Code [CPC] 

The CPC is the fundamental course that you should be thorough with if you want to make a career in litigation. You must know the associated legal concepts such as res judicata, the jurisdiction of courts and other provisions. The CPC is a comprehensive code that covers everything related to civil jurisprudence- from the definition of a suit, in which court the suit should be filed to how a pleading should be written and what it should contain. This course will provide you with an understanding of these concepts.

Certificate in Right To Information 

Ever since its enactment in 2005, the Right to Information (RTI) has served as an important tool to demand information from public authorities, which was previously a daunting task. It is an instrument to demand accountability from public institutions. It has empowered the public to use its right to know how public authorities function. Though it is significant legislation, it is not taught in many law schools as part of the curriculum. But Enhelion offers a specially curated course on this Act. It will help you to understand the law and its various provisions. It will also give you a perspective on the importance of data protection and e-governance. As a law student, you should be aware of the process of filing an RTI application. A highlight of this course is its module dedicated to the practical training on the filing of RTI applications. It is highly useful for law students as well as professionals who want to learn about RTI but have not had the chance to do so.

Certificate in Specific Relief and Limitation

 Consider the situation. A person comes to you for help, knowing that you are a senior law student and in a position to help him. He tells you about his contractual dispute from some years ago. He asks for your advice- what remedies can he ask for and can he file a suit after all these years. If you are aware of the relevant laws and provisions, you will be able to answer him. But if not, it may well be an embarrassing situation that you would definitely want to avoid in the future.

The Specific Relief Act and the Limitation Act, the two laws dealing with the above example, are frequently referred to in contractual and civil disputes. However, many times, they are ignored by students. They are not thorough with their provisions. Many are often clueless. While the Specific Relief Act lists the remedies that are available to people whose contractual or civil rights have been violated, the Limitation Act prescribes the time within which different kinds of suits must be filed before the court for them to be heard. Thus, these two legislations are important in civil law practice in India. For any student looking to practice in civil courts, it is important to know these subjects. This is what this course aims to achieve. It explains the remedies provided in the Specific Relief Act, such as the recovery of property and specific performance of contracts. It also describes the important provisions of the Limitation Act and how they are applied in practice.

Certificate in Drafting, Pleading and Conveyance 

Little attention is paid to the drafting of court documents in college. Drafting is an important skill that is always employed in the legal profession. Any document, in order to be admitted by the court, has to be written in the correct format. If it is incorrect, it can have a significant impact on the fate of the case/application. This course will help you understand the technique of drafting various documents such as plaints, written statements, injunctions, and affidavit. You will also learn to draft documents for conveyancing such as sale deed, gift deed, and mortgage deed. When you practice these drafting skills in your internship, it will make you stand out from others who may not know the drafting process behind these documents. By the time you enter the profession, you will be able to draft them without any hassles.

 

Advanced Certificate on Civil Procedural Laws in India

The difference between an appeal and revision or judgment, order and decree are basic concepts of civil law. Every law student should know them, regardless of the career that you choose later on. These are the foundational blocks of civil law practice in India. If you intend to make a career in litigation, you must be thorough with these and all other concepts. This advanced online course offers a comprehensive conceptual understanding of civil procedure laws in the country. It discusses the CPC, the Specific Relief Act and the Limitation Act together to help you recognize their interaction in the legal domain.

 Conclusion 

The courses discussed in this post are the sine qua non of civil law. You cannot become a good lawyer without learning and practicing them. Most students do not pay attention to these topics in law school. They struggle later when they are faced with situations in internships that require a knowledge of these subjects. Even if you do not want to pursue a career in civil litigation, you must know about them. Law is an interconnected field. One branch of the law will interact with another. You may have to draft an affidavit or argue for specific relief in a contractual dispute. The knowledge of these subjects will be an extra boost to your practice and career.

 

 

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Criminal Law Courses That Will Help you Stand Out

Author: Rishima Rawat

Law is a dynamic field. There are constant developments almost every day. These are not just limited to the amendments in laws and regulations. But the field itself experiences constant changes with respect to the subject. While we update our knowledge of the latest legal developments, we often fail to upgrade our skills. If you wish to make a career in criminal law, a piece of general knowledge about various offences will limit your chances of becoming a good lawyer. To work with the best criminal lawyers and make a good impression, you have to be prepared with an additional skill set that will set you apart from others. Law schools teach you only the basics of substantive and procedural criminal law. They have to cover the entire subject in one or two semesters. So they teach some portions and leave out the rest. This does not mean that those remaining portions are not important. The smart thing to do here is to learn about them yourself rather than giving the excuse, “We were not taught about this in law school.”

How can you learn more about criminal law? 

 Enhelion offers some in-depth online courses on criminal law. These cover the traditional as well as new and current subjects. The courses are self-paced so you can complete them as per your convenience. They are certified by lawyers and law firms working in the field. You get to learn directly from the practitioners. The top performers are given a chance to train with them as interns.

Here is a list of criminal law online courses that will give you an edge over others.

 1. Certificate on Indian Penal Code (IPC) 

IPC is the first law that is invoked when an offence is committed. It the the main substantive criminal law that defines all the offences and prescribes punishments for them. This certificate course explains all the chapters of the IPC. It covers the necessary ingredients of offences and explains criminal law concepts with the help of case laws.

 2. Certificate on Criminal Procedure Code (CrPC)

 After the offence has been identified, it has to be investigated, tried in court and the guilty have to be punished. How this process will be conducted in explained in the CrPC. It is the procedural code that details every procedure involved right from the investigation stage to the trial and sentencing stage. In this course, you will learn how the police investigates a case, how the court takes cognizance of the offence, frames charges, how the accused and victim are to be treated and every other procedural aspect relating to criminal law in India.

  3. Certificate on the Law of Evidence

Completing the body of criminal law in India is the law of evidence. It is detailed in the Indian Evidence Act, 1872. We know that evidence is required to prove that the offence has been committed by the accused. But not everything can be admitted as evidence in a court. The Evidence Act contains what qualifies as evidence and sets certain rules regarding its admissibility. This course explains all the chapters of the act. It discusses the important points of all the sections along with illustrations and case laws.

4.  Diploma in Criminal Law 

Any situation dealing with a crime involves the interplay between substantive and procedural law. What is the offence that is committed? How will the investigation and trial be conducted? What is the evidence and will it admissible in court? All these questions cover both the substance and procedure of law. This online diploma course combines both these branches of law to give you a holistic understanding of criminal law in India. It covers the Indian Penal Code, the Criminal Procedure Code and the Indian Evidence Act. In this course, you will learn how these three major laws work in tandem and shape the criminal justice system in the country. It is taught by highly experienced faculty. The evaluation includes two MCQ tests and two project assignments.

 5. Certificate Course on White Collar Crimes and Financial Frauds 

Money laundering, bank fraud, bribery, insider trading, corruption- we have been hearing these terms for quite some time now. They fall under the category of white-collar crimes. The recent rise in economic offences compelled the government to introduce special legislation to deal with them. So while we may know what happened and who is involved, it is important, as law students, to understand the legal nuances of these offences.  It is equally important for legal professionals to have knowledge of how the law handles white-collar crimes and economic offences. This course, in association with Atharva Legal LLP, is designed to do just that. It explains white-collar crimes and the international and national legal and regulatory frameworks that are in place to deal with them.

  6. Certificate Course in Preventing Sexual Harassment at Workplace 

A safe workplace is the right of every employee. It is not only beneficial for the employees but also the employers. The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act was enacted in 2013. It lists the obligations of employers to deal with the issue of workplace sexual harassment. Despite the law being in place for so long, there are many organizations that do not have the mandated safeguards and agencies in place. This reflects a clear lack in the implementation of the legislation. It took a global movement to bring attention to this menace that has been prevalent for far too long. Even then, many workplaces lack the prescribed institutional support. It has become even more important today for students and lawyers to understand this law and help organizations implement it. In this course, you will learn how the law requires an organization to record a complaint and investigate it. It also has separate modules on personal conduct and anti-sexual harassment training. Once you know this subject, you can even have a career as a consultant in this field and help make workplaces safer.

7. Diploma in International Humanitarian Law 

Civilian casualties in a warzone, countries attacking each other, treatment of prisoners of war- are these situations governed by any branch of law? Yes. It is called International Humanitarian Law that deals with international armed conflict. It is a set of rules that are to be observed by parties engaged in armed conflict. It aims to protect civilians and those people who are not a part of the hostilities. For example, journalists who cover wars or medical professionals who are there to provide aid to the injured. This online diploma gives you detailed information about the development of international humanitarian law, its application and war crimes and tribunals. It is an important subject insofar as international politics and events are concerned. As students, it will give you a perspective on global issues and how the international community deals with them.

Conclusion

These are some of the courses that will help you build additional skills. They are self-paced and taught by industry practitioners. They will help you to understand the current issues in the subject in a better manner and give you a legal perspective. Recruiters are always looking for people who can add value to the job. With more knowledge through online courses at your behest, you can demonstrate a higher level of learning and understanding compared to your peers.

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How to Make a Lasting Impression During a Legal Internship?

Author: Rishima Rawat

Legal internships are an important opportunity to secure a job. It is important to make a lasting impression so that the organization considers you for a permanent role. This article lists some simple tips that you can follow to make a mark.

How to Make a Lasting Impression During a Legal Internship?

 Internships in law school play a huge part in the learning process. They bridge the gap between theory and practice. Whatever you learn in the classroom, you get to apply that to real situations. A legal internship helps you build your CV, explore different areas of interest and land your dream job. But it is not easy to get an internship at your place of choice. You need to compete with others, clear interviews (in some cases), send multiple applications to different places and follow-up on them. Even after all this, there is no guarantee that you will surely get the internship. The process is long, tiring, many times dejecting because some firms outrightly reject applications. Of course, it is easier if your college helps in securing internships or if you have contacts in the industry. But if you are managing on your own, it can be quite a tedious task.

Let’s say that you have secured an internship at an organisation. You really want to make the most of it and leave a good impression on the people. After all, they can be your potential employers. How can you use this opportunity to your advantage? What is it that you can do that makes you stand out from the rest of the interns? Here are some points that you can keep in mind when going for an internship.

1. Prepare about the firm/organisation

 Before you join, read up on the organisation, its core practice areas, its main people and any recent major deals or cases that it has been a part of. This information is available through simple research. It serves as a good introduction to the firm. Some firms do not have a prominent social media presence or a dedicated website. But they are reputed and highly regarded in the industry. It gets difficult to know about them. You may have to put in extra effort here and network with the associates working there to get some information. I once interned with a reputed firm that does not have a website nor is covered much in the media. Before starting my internship, I reached out to a senior from college who was working there and asked him general questions about the firm and the do’s and don’ts. This served me in two ways- it made me a bit more comfortable before beginning the internship and it made the senior aware that I would be joining the office. So he met me on the first day, introduced me to some of the office staff and encouraged me to learn as much as I could.

2. Develop a willingness to learn 

One thing you should understand is that it will be a professional environment. And that is how you will be expected to conduct yourself. There is a certain decorum to be maintained in the office. Do not be arrogant. Treat the internship as a learning opportunity. Whatever work you are given, do it diligently and sincerely. You will not be expected to know everything about the law. However, what people will observe is your work ethic. There will be other interns in the office. Avoid unnecessary competition with them. Instead, network with them, work together on projects if the situation permits and learn from them. Do not be intimidated by people from ‘better’ colleges. Be confident about yourself. If you think the other person knows more than you, build your knowledge with additional online law courses so that in your next legal internship, you will have an edge over others.

 3. Punctuality still counts

As a student, one does not put much effort into being punctual. But a legal internship is your introduction to the professional world. You must treat it as a professional assignment. Reach the office on time. If you can reach 10-15 minutes early, even better. The point is that you should be at your workstation before your managing associate and other team members. As for leaving the office, in law firms, there is usually no particular time. Even in law chambers, you may have to work late. It helps if you stay back for some time. There is always some work and if you ask around, you will get it. Working till late indicates that you don’t have a problem with it and are dedicated to the job. It also shows that you are fit for the law firm culture since associates in most law firms work till late in the night.

If you are asked to work on weekends, do not refuse. Your primary aim at the internship should be to learn as much as you can. The day of the week should not matter. I was called to work on my birthday (which fell on a Sunday) in one of the internships. It was work as usual after the customary greetings. Since it was a major case in Delhi, it was a rare opportunity to directly assist the core litigation team. It still remains one of my most enriching experiences.

4. Work hard and smart

 The most important aspect of your internship is whether you can work in the organisation. Introduce yourself to your team on the first day. Meet them personally or send them an email telling them that you have joined the team. Whatever research or drafting you do, make sure it is presentable. For example, if you are asked to research cases, highlight the relevant part of the case so that it is easier for the associate/partner to read. Judgments can run into hundreds of pages and often, there is not much time for the associates to go through all of them. Flag the appropriate page, highlight the relevant lines and make a side note about its relevance. If you are preparing a note, ensure that you write in a concise manner and include footnotes wherever required. Avoid long paragraphs. Instead, include bullet points.

Whether you are interning at a law firm, an NGO, a company or a lawyer’s chamber, do not say no to a work you think is ‘small ‘. There are times when interns are given work such as making a list of documents, proofreading them or simply getting printouts and copies of cases. If you get such work, do not refuse. Make sure to do it in the best possible way. Many times, associates start off with small tasks to see if you can handle bigger ones.  I was once asked to print copies of cases and prepare a table of contents for the case file. Satisfied with my work, the concerned associate asked me to assist her with research and drafting on her other projects too.

 5. Manage your workload 

 Usually, interns are assigned to a particular team and they work with them throughout the internship. This does not mean that other lawyers will not give you work. If an associate from another team gives you work, take it up only if you will be able to finish it in time. Sticking to the deadline is very important. Your priority should be your team. But if someone else gives you work, ask how urgent it is and then decide if you will be able to finish it in time. Here’s another personal experience to illustrate this further. After interviewing through the college placement committee, I managed to secure an internship at one of the ‘big six’ law firms. I was eager to impress so I took up whatever work I was given. Once I was working for another associate when a senior associate from my team gave me work. He asked me if I was working on something else. If I was, he would find someone else or do it himself. I did not want to refuse a team assignment so I told him I would do it. I thought I would manage but I was wrong. By the time I finished my pending assignment, it was already late. He had done the work himself. I was fortunate enough to not get shouted at. Instead, the senior associate, who later became my mentor in the internship, politely explained to me how my overconfidence in my abilities had kept the client waiting. I had learnt my lesson. After that, I never took up more work than I could handle. Even in my subsequent internships, I always asked the associates when they required the work. If I felt I could not complete it in time, I politely told them.

Nobody will hold it against you if you tell them that you already have enough work. But if you take it up and do not deliver, it will not reflect well on you.

6. Networking

Yes, internships are mostly about work. But they are also about making connections.  If the associates invite you for lunch, go. If the situation allows, speak to them about their experience. Slowly build a rapport and ask them about things that you would like to know about the firm. You need to tread carefully here and observe the environment. You cannot appear too pushy or intrusive. Not everyone would be willing to answer your questions. Take your time to understand if you can have such conversations with your colleagues.

As a courtesy, send a mail to your team at the end of your internship, thanking them for their time and guidance. Ask them for feedback- what they thought about you and how you can improve. This reflects that you are open to learning and improving your skillset. Make connections and keep in touch even after your internship. They are your seniors and can be of help later.

A few other important things to keep in mind are to dress well. Law firms, chambers and other organisations usually have a professional business dress code. Make sure that you are dressed accordingly. Avoid too much social media during office hours. If you are taking a break, then it’s fine. But do not keep checking your phone while working.

Conclusion

 The points mentioned above are not exhaustive steps to do well in an internship. They are simply pointers to tell you what you can do. Ultimately, it all depends on how to conduct yourself during the internship. If you treat it as a learning opportunity, you will succeed in making an impression. But if you consider it as just another addition to your CV, you will not get any benefit out of it. It is a great time for you to learn the real trade and make some connections in the industry. Use it wisely.

 

 

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Why Choosing a Specialization in Law Helps

Author: Rishima Rawat

Over the course of five years in law school, you will study at least fifty subjects. Add to this the numerous law courses available online and the number will be much higher. This should be enough to reflect that there are numerous avenues in law that you can choose. With so many subjects, there is a vast pool of choices that you can pick from. But having more choices can also lead to confusion. This is especially the case when it comes to choosing a specialization. Having a specialization means that you will study that subject in greater detail. That will be your main subject and your future area of practice.

Initially, knowing everything seems to be a more attractive option. Some people like to think that knowing every subject will give them a better understanding of the law overall. They become general practitioners who advise on every legal subject. Others think that if they specialize in one subject, they will end up confining themselves only to that area. While these thought processes may seem correct initially, they may only be valid for short-term. On the other hand, for a long-term plan, it is advantageous to have specialized knowledge in a particular subject. In this article, we will tell you why having a specialization in law is helpful for your career.

 Become an expert, a go-to person 

When we suffer from a disease, we go to a doctor who specializes in that area of medicine. For example, a heart patient will go to a cardiologist, a person suffering from a skin ailment will go to a dermatologist and so on. This is because we know that person has the expertise to handle that particular case. Now let’s apply the same logic to law. Someone who needs advice on a merger and acquisition transaction will go to a lawyer who specializes in M&A. If a company wants to list its securities on the stock market, it will approach a capital markets lawyer. Why? For the same reason that they are experts in their respective fields. This is what a specialization offers. It makes you a go-to person for that area of law. You gain in-depth knowledge of the subject. This allows you to answer every query of your client.  With practice, you gain knowledge and can even become an expert in that field of law.

 You develop a certain clientele

Once you develop a specialized practice, you attract clients from that industry. Your practice grows and so does your clientele. Once established, you get in a position to choose your clients. You may reject clients if they do not meet your expectations. This way, a specialized practice allows you to develop your own clientele. It is especially true in cases where the practice area is niche. For example, aviation law or sports law. Lawyers specializing in these fields build their own niche clientele. Their clients know that these lawyers are among the few people who have the expertise required to best serve their interests.

You get recognized in the industry 

With a specialized practice area, you meet people from that industry. It can either be while studying the course or working in that field. When you do good work, the word spreads. As more people get to know about you, you start getting recognized. This recognition begets more work. Thus, choosing a specialization will help you make a name and stand out. A general legal practitioner may not get such kind of recognition.

Specialization is interesting

The prospect of studying a subject in-and-out is both challenging and interesting. A general legal practitioner may be able to give advice on a matter but it will not be as nuanced as a specialist. Sometimes, he may not even have sufficient knowledge of the subject. On the other hand, a specialization will equip you to answer any question related to the field. If there is any new development in that area of law, people will turn to you for advice. For example, when cryptocurrency and digital payments became popular in India, it gave rise to a new field- fintech law. It deals with the interplay between financial transactions and technology. Lawyers who were practicing in technology and banking and finance were sought by various entities to understand the framework of these new developments. Such interesting developments can lead you to work in different innovative fields involving the subject of your specialization.

Conclusion 

Choosing a specialization in law can help shape your career. It equips you with a skill set that you must keep polishing every day. What subject you choose to specialize in depends on you. It should be something you are interested in because you will be working on that subject for a long time. If it does not interest you, you will face a burnout in a short time. This is true for every subject regardless of the branch of law- corporate, criminal or civil. After you have chosen a subject, you should know that only quality work, constant improvement, patience and perseverance will help you excel. If you think you will learn all the subjects and not specialize in one, you may end up becoming a jack of all trades but master of none.