CA CS Swati Agrawal
Co-Founder of Ekagrata
Educator, Mentor and Guide
• Qualified both CA & CS in First attempt
• Completed B. Com. (Hons.) and ‘O’ Level
examination.
• Taught thousands of students more 10+ years
• Soft spoken and always approachable for
students
• Innovated Amazing ways of Making students
Learn and score in Subject
Indian Regulatory Framework
What Is Law?
Law is a set of obligations and duties imposed by the government for
securing welfare and providing justice to society. India’s legal
framework reflects the social, political, economic, and cultural
aspects of our vast and diversified country.
Sources of Law
Legal Commentaries
Constitution Legislation Regulation Judicial decisions Customary Law International Law and textbooks
Scholarly Articles:
National Case Law Traditions and Treaties and Academic writings
Constitution Statutes (Parliament) Administrative (Precedents) Practices Conventions that interpret and
analyze laws.
Executive Orders-
State/Regional Acts (Passed by Directives issued by International International
Constitutions Legislature) the President or other Judicial Opinions Customary Law Agreements Legal Textbooks
executives.
Ordinances
(Municipal/ Local
Authorities)
Process of
Making
Law
When a law is proposed in
parliament it is called a Bill.
Types of Law In Indian Legal System
Types of
Laws
Criminal Law Civil Law Common Law Principle of Natural
Justice (Jus Natural)
Classified into A judicial A judgment Reasoned
precedent Nemo judex in Audi alteram decision
Process & Law of E.g.- Breach of delivered by causa sua (No
Governed or a case Supreme Court partem (hear
under the E.g.- Murder, administrati Contract, contract, Non- one should be
rape, theft, Family Law, delivery of goods, law is will be binding the other
IPC, 1860, on are common made a judge party or give
fraud, cheating governed by Property Law, Non-payment of upon the courts in his own
and CRPC, and assault, etc. law. within the the other
1973 the CPC, Law of Tort. dues to lender or cause, and it’s
seller defamation, territory of India party a fair
1908. a Rule against hearing)
etc. under Article Prejudice)
141 of the
Indian
Constitution.
Enforcing The Law
Shri. Morarji Desai
during his stint as
Finance Minister
between 1962 and 1969
-Ministry of Finance- has presented 10 Union
Budgets making it the
highest.
Is the apex controlling authority
of four Central Civil Services, namely: Departments Under MoF
a) Indian Revenue Service
b) Indian Audit and Accounts Service • Dept of Economic Affairs
• Dept of Expenditure
c) Indian Economic Service and • Dept of Revenue
d) Indian Civil Accounts Service. • Dept of Financial Services
• Dept of Investment & Public Asset
Also, the apex controlling authority of one of the Management
central commerce services namely
Indian Cost and Management Accounts Service.
Enforcing The Law
-Ministry of Corporate Affairs (MCA)-
• Is an Indian Government Ministry.
• Primarily concerned with administration of the Companies Act 2013, the Companies Act 1956, the
Limited Liability Partnership Act, 2008, and the Insolvency and Bankruptcy Code, 2016.
• Responsible mainly for the regulation of Indian enterprises in the industrial and services sector.
• The Ministry is mostly run by civil servants of the ICLS cadre.
• These officers are elected through the Civil Services Examination conducted by Union Public Service
Commission.
• The highest post, Director General of Corporate Affairs (DGCoA), is fixed at Apex Scale for the
ICLS.
Enforcing The Law
-Ministry of Home Affairs-
• As an interior ministry of India, it is mainly responsible for the maintenance of internal security and domestic
policy.
• The Home Ministry is headed by Union Minister of Home Affairs.
Departments under Ministry of
Home Affairs
Department of Department of
Department of Department of Department of Department of
Border Jammu, Kashmir
Internal Security Home Official Language States
Management and Ladakh Affairs
Central Translation Central Hindi Directorate of
Bureau Training Institute Census Operations
Enforcing The Law
-Ministry of Law & Justice-
• In the Government of India is a Cabinet Ministry
• deals with the
➢ management of the legal affairs, through the Legislative Department
➢ legislative activities through the Department of Legal Affairs
➢ administration of justice in India through the Department of Justice
Departments under Ministry of Home
Affairs
Department of Legislative Department of
Legal Affairs Department Justice
Enforcing The Law
-The Securities & Exchange Board of India (SEBI)-
• Is the regulatory body
• For securities and commodity market in India
• Under the ownership of Ministry of Finance within the Government of India.
• It was established on 12 April 1988 as an executive body and was given statutory
powers on 30 January 1992 through the SEBI Act, 1992.
Enforcing The Law
-Reserve Bank of India (RBI)-
Reserve Bank of
India (RBI)
Key Currency National Payment Deposit Insurance &
What is RBI? Ownership Corporation of India Credit Guarantee
Responsibilities Printing
(NPCI) Corporation (DICGC)
Currency Control,
India’s Central Bank Ministry of Finance Bhartiya Reserve Bank Regulates Payment
issue and supply of Provides deposit
& regulatory Body (GOI) Note Mudran (BRBNM) & Settlements
Indian Rupee. insurance & credit
prints and mints currency systems of India.
guarantee to Indian
Banks.
Promote Economic
Development Currency Printing
presses in Dewas &
Nashik
Manage main
Payment Systems
Enforcing The Law
-Insolvency & Bankruptcy Board of India (IBBI)-
Insolvency & Bankruptcy of
India (IBBI)
What is IBBI? Establishment Scope Objectives Key Functions Tribunals
Applies to Individuals, Simplify insolvency Oversees Insolvency
Regulator overseeing 1 October 2016. NCLT
Companies, Limited and bankruptcy Professional Agencies
insolvency proceedings proceedings.
& entities like IPAs, IPs, Liability Partnerships (IPAs).
and IUs in India. (LLPs), and
Partnership Firms.
Statutory powers Speed up resolution Debt Recovery
through IBC passed process for stressed Tribunals.
by Lok Sabha on 5 Regulates Insolvency
assets. Professionals (Ips).
May 2016.
Monitors
Information
Utilities (IUs).
Structure of Indian Judicial System
When there is a dispute between citizens or between citizens and the Government,
these disputes are resolved by the judiciary.
The functions of judiciary system of India are:
Regulation of the interpretation of the Acts and Codes,
Dispute Resolution,
Promotion of fairness among the citizens of the land.
Decisions of the Supreme Court are binding on all High Courts under Article 141 of the Indian
Constitution. In fact, a Supreme Court decision is the final word on the matter.
Supreme Metropolitan
High Courts District Courts
Courts Courts
Apex body of the judiciary Highest court of appeal in each
state and union territory. Courts below High Courts
Established in
metropolitan cities with a
Established: 26 January Establishment: Article 214 (one population of 1 million or
High Court per state/UT) Courts of District Judge-
1950 Deal with Civil Matters more
(e.g., contractual disputes).
Jurisdictions-
Highest Authority- CJI • Appellant Jurisdiction
(Article 126) • Original Jurisdiction Courts of Sessions- Deal Chief Metropolitan
• Supervisory Jurisdiction with Criminal Matters Magistrate- Powers like
Principal Bench- (limited by Article 227) Chief Judicial Magistrate.
• Original Composition: 7 Pecuniary Jurisdiction-
Members (Including CJI) Number High Courts: 25 (One Civil Judge: Suits valuing
• Current Composition: 34 for each state/UT; 6 states share up to ₹2 Crore
Members (Including CJI a High Court)
Metropolitan Magistrate-
Powers similar to a
Territorial Jurisdiction Magistrate of the First
Relief Mechanism- Writ Petition based on local limits (area
Relief Mechanism- Writ under Article 226. Class
of residence or property)
Petition under Article 32
