India’s cryptocurrency trading volumes have been on the rise. While there are no official figures, as per experts there are at least five million active traders in India, transacting via regulated banking channels.
With India’s leading cryptocurrency exchanges such as Zebpay, Unocoin, Coinsecure, Coinome and Bitxoxo among others reporting a marked increase in user interest every day the question is gaining lot of momentum if the cryptocurrency is legal in India or not.
The situation further becomes complex with the global situation with respect to it. While China has blocked crypto exchanges, U.S. banks are steadily declining cryptocurrency purchases. Meanwhile, Indian finance minister Arun Jaitley, during the national finance budget, stated that the country does not recognize Bitcoin as legal tender and steps would be taken to penalize crypto payments.
What are the official communications and stand of RBI ( Reserve Bank of India) on Cryptocurrency
As on date no specific framework …
Section 202 in The Indian Contract Act, 1872
202. Termination of agency, where agent has an interest in subject-matter.—Where the agent has himself an interest in the property which forms the subject-matter of the agency, the agency cannot, in the absence of an express contract, be terminated to the prejudice of such interest. —Where the agent has himself an interest in the property which forms the subject-matter of the agency, the agency cannot, in the absence of an express contract, be terminated to the prejudice of such interest." Illustrations (a) A gives authority to B to sell A’s land, and to pay himself, out of the proceeds, the debts due to him from A. A cannot revoke this authority, nor can it be terminated by his insanity or death. (a) A gives authority to B to sell A’s land, and to pay himself, out of the proceeds, the debts due to him from A. A cannot revoke this authority, nor can it be terminated by his insanity or death." (b) A consigns 1,000 bales of cotton to…
The moment you wish to pursue a serious business relationship you are requested to sign a Non Disclosure Agreement more commonly known as an ‘NDA’. It is also known as a confidentiality agreement (CA), confidential disclosure agreement (CDA), proprietary information agreement (PIA), or secrecy agreement (SA).
In fact it is one of the most common pieces of document that you may come across in your business transactions. Be it as an employee, an investor, a start-up founder, or a professional an NDA is the starting point of sharing substantial information in a business relation. In today’s world of complex transactions it becomes all more important to keep a tab on the rights you hold over the information that you share.
With the advent of superior analytics and technology data has become the new gold and so is the value and liability with respect to it. Most common kind of information that people intend to secure in any such NDA is the client or customer data etc. What is an NDA?It is…