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If you and your spouse are facing the daunting dilemma of ending your marriage, thinking about pragmatic matters will be your last resort. However, divorces don’t just involve two people in India; they involve two families. The mental, physical and financial strain of divorce cases surpasses way beyond the legal troubles, but in a way, addressing the legal concerns is the only way to sort everything out for you and your spouse after the separation. One of the practical matters that the best law firms in Mumbai can help you with is the division of assets and debts acquired during your time together.
You need to have a clear idea of property rights during divorce to ensure a fair and equitable distribution of marital property, and if you don’t know where to start or how to proceed, here’s a guide from the best divorce lawyers in Mumbai.
Marital Property vs. Separate Property
In divorce proceedings, all the assets and debts are typically categorized as either marital property or individual assets. While marital property encompasses the assets and debts acquired during the marriage, regardless of the name of the spouse on the deed, title or account, individual property comprises assets and debts acquired by either spouse before the marriage, as well as gifts, inheritances, and personal injury awards received during the marriage. If you want to reach out to the best divorce lawyer in Mumbai to determine what is subject to division during divorce proceedings, ensure to distinguish clearly between marital and individual property.
Equitable Distribution
Unlike some Western jurisdictions, India follows the principle of equitable distribution when it comes to dividing marital property and debts in divorce cases. With equitable distribution, each spouse can get their fair share of the division, including the financial contributions of each individual, the duration of the marriage, the standard of living established during the marriage, and the needs of the dependent children, among others.
Factors Considered in Property Division
Indian courts consider several factors when determining how to divide marital property and debts:
Contributions of each spouse to the marital assets, both financial and non-financial.
Financial needs and earning capacity of each spouse, including future financial prospects.
Standard of living established during the marriage.
Any agreements or arrangements made between the spouses regarding property division.
The welfare of dependent children, if any.
Tax implications of property division.
Debts in Divorce
In addition to assets, debts acquired during the marriage are also addressed during divorce proceedings. Any marital debts, such as loans, credit card debt, and other financial obligations incurred during the marriage, are subject to equitable distribution.
Conclusion
When people get married, the last thing on their mind is a divorce. However, at times separating from each other remains the only viable option because two people find each other insufferable for staying under the same roof. The legal framework of India has all the provisions for divorce, alimony, child support, custody, domestic violence, etc., but if you want to ensure your rights are protected, ensure to reach out to the best law firms in Mumbai.
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Domestic violence against women is probably the worst form of human rights violation. In India, even today, a vast majority of domestic violence cases go unreported. Although families in India tie relationships based on cultural values, cases of domestic violence range from physical and sexual abuse to emotional, economic, or psychological harassment. Yes, domestic violence leads to the dissolution of marriage in most cases, and women resort to divorce lawyers in Mumbai, but you might also need the top lawyers in Mumbai to help you create a rock-solid domestic violence case based solely on the terrors you have faced in your relationship.
Thinking about what’s domestic violence and its legal remedies? Here you go!
Recognizing Domestic Violence:
Before delving into legal remedies, it's essential to understand what constitutes domestic violence. According to the Protection of Women from Domestic Violence Act, of 2005, domestic violence encompasses various forms of abuse, including physical, emotional, sexual, and economic. Identifying the signs of domestic violence is the first step toward seeking legal assistance and protection.
Getting a Protection Order:
One of the primary legal remedies available to victims of domestic violence is obtaining a protection order from the court. A protection order prohibits the abuser from committing any act of domestic violence, communicating with the victim, or entering the victim's place of residence. Victims can approach the court seeking an immediate or interim protection order, which provides immediate relief from further harm.
Filing a Domestic Violence Complaint:
In addition to seeking a protection order, victims of domestic violence can file a formal complaint with the police under the provisions of the Domestic Violence Act. The police are legally obligated to register the complaint and conduct an investigation into the matter. Filing a complaint can lead to criminal proceedings against the perpetrator, providing victims with legal recourse and protection.
Seeking Shelter and Support Services:
Victims of domestic violence often require immediate shelter and support services to ensure their safety and well-being. Several organizations and NGOs in India offer shelter homes, counseling, legal aid, and other support services to victims of domestic violence. Seeking assistance from these organizations can provide victims with the necessary resources and support to navigate the legal process effectively.
Legal Representation and Advocacy:
Navigating the legal system can be daunting, especially for victims of domestic violence. Seeking legal representation from a qualified lawyer experienced in handling domestic violence cases is essential for protecting one's rights and interests. A skilled lawyer can provide legal advice, represent the victim in court proceedings, and advocate for their best interests throughout the divorce process.
Conclusion
If you have ever faced domestic violence in your marriage, it’s always best to reach out to the top lawyers in Mumbai as soon as possible. Based on the severity of the offense, the professionals can suggest criminal action or divorce. If you want to separate from your spouse after the incident, you can always connect with the leading divorce lawyers in Mumbai and they can simplify everything for you while helping you to avoid any legal complications.
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The businesses need NCLT lawyers for various administrative purposes and for ensuring compliance with the company law. The owners need legal advice on various business matters where they need to understand what is permissible as per the law. Several business moves require getting into agreement with the other entities or seeking permission from the Tribunal. These involve paperwork and dealing with NCLT, which becomes easier to handle with an NCLT lawyer by your side.
The NCLT lawyers provide various services that help the business owners meet their objectives of survival, expansion and winding up. These services are:
Adjudication: When the business requires settling a claim or a legal matter through NCLT or court, the owners can hire business lawyer for the adjudication process. It allows them to have a helping hand that can help them in legal matter and let them settle it with least friction or loss of days of work.
Compromise: The business lawyers can be consulted for entering into a compromise between the business entity and the opposing party. If two business owners need to reach the state of consensus over a matter of dispute, they can reach the business lawyer to carry out the compromise process.
Arrangements: A business gets into several arrangements like mergers and demergers, acquisition and amalgamations, or reorganizations etc. It requires setting and following of the terms. The NCLT lawyer can speed up these processes, take charge of carrying out the legal and allow the business owners to concentrate on their core activities. Whether the terms of arrangements are being followed or not, is also ensured by the lawyers by review of activities from time to time.
Insolvency process: In bad times, the business owner may become unable to pay to creditors. He has to declare himself insolvent through a laid-out process to escape the hounding of creditors. The lawyer for business matters can help in declaration of insolvency and supervise the paying back of debts by liquidation of assets. If the case is presented before the NCLT, or needs NCLT’s intervention, the lawyers present your side and try to get you the least possible liabilities.
Reconstruction: The companies may undergo reconstruction caused by the moving away of directors, formation of new companies, dividing the business among existing entities and so on. All these processes are to be carried out as per the law. With the help of business lawyers, the companies can complete the reconstruction process and make the entities accountable as per their new roles.
Oppression and mismanagement: The Chapter XVI lays down the terms for who can file a complaint of oppression and mismanagement and under what circumstances. The business lawyers can help in understanding it and proceed as per the stated guidelines.
To sum up,
Business management involves lots of legal processes. Several decisions are to be taken and implemented but within the legal framework. The NCLT lawyer firm can provide the required support to make such decisions and help in supervising the implementation. In case of situations like insolvency, the insolvent can proceed further with the help of a lawyer and get the complete process carried out as per the rules.
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The NCLT (National Company Law Tribunal) serves as a quasi-court to deal with legal cases involving companies. This authority has been formed to hear cases from creditors to companies that have been registered as per the Companies Act of 2013. Working closely with reputed NCLT lawyers, you can proceed with the legalities. With experience on your side, you can expect favorable decisions on your end.
Currently, NCLT serves as the key tribunal in the country. It is authorized to make legal decisions regarding a company’s bankruptcy. This body has been empowered to deal with cases where corporations, LLPs, and other companies are considered to be insolvent. Considering the gravity of bankruptcy cases, it makes sense to hire accomplished NCLT lawyers Mumbai from a reputed law firm.
What cases does the NCLT deal with?
To give you a broader idea about what the NCLT deals with, let’s examine some of the cases.
If a company winds up after defaulting, the NCLT issues legal processes against them.
You can seek professional assistance from NCLT lawyers if you want to recover money under bankruptcy norms.
If you are a business owner and want to wind up your venture voluntarily.
However, NCLT does not deal with individual queries related to income tax or bankruptcy.
What is NCLT and what does it do?
In India, several changes in business operations have taken place over the years. While businesses had to adhere to the Companies Act of 1956 in the past, a new set of norms was established with the Companies Act of 2013. As a result, there were several changes as per the judicial norms governing businesses in India.
The National Company Law Tribunal was set up after the abolition of the Company Law Board. In order to take up the appeals from NCLT cases, the legal authorities came up with the NCLAT (National Company Law Appellate Tribunal). Currently, it also has jurisdiction appeals from the CCI (Competition Commission of India).
So, jurisdiction matters from companies that were formed as per the Companies Act of 2013 go to high courts. In case of any civil or corporate dispute, NCLT has to look into the matter. The judicial powers, therefore, lie with this body. This explains why it’s important to hire NCLT lawyers Mumbai in case of a bankruptcy or any legal dispute.
After the formation of the NCLT, the Indian courts have been relieved of their pressure to resolve commercial disputes. Also, the NCLT law firm in Mumbai can resolve disputes much faster. Their objective is to sort the matter out within 6 to 9 months. This also reduces issues related to lengthy court processes.
The tribunals and NCLT
To streamline laws related to commercial disputes, the NCLT serves the purpose of four different tribunals. These include:
The Company Law Board (CLB)
Official Liquidator (OL)
Appellate Authority for Industrial and Financial Reconstruction (AAIFR)
Board for Industrial and Financial Reconstruction (BIFR)
Across India, there are 14 NCLT benches. Apart from the principal bench, the others are located in most of the metro cities.
In case of any commercial dispute, make sure to reach out to NCLT lawyers at one of the reputed law firms in India.
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