News & Insights

A comfort letter is a representation by one party that assures the other about its ability to carry out a task. Comfort letters have proved to be a hypocritical instrument used in commercial transactions, given the nature of words generally used in such letters. While some letters do not have any legal enforceability, others may constitute a valid and binding contract.

Engaging contract labour and outsourcing of work by organisations reduces business expenditure and helps improving organisational productivity and building service competitiveness. This practice gets statutory recognition under, and is subject to regulation by, the Contract Labour (Regulation and Abolition) Act, 1970 (���Act�۝). The Act provides for a principal employer to employ, through a contractor, workmen as contract labour, for its organisation or for any work in connection with such organisation�۪s work.

The Transfer of Property Act, 1882 (���TP Act�۝) regulates matters pertaining to transfer / conveyance of immovable property in India. The basic tenet of the TP Act is that a person can transfer to another person a right and/or title which he himself possesses. The natural corollary is that a person cannot transfer what he does not have. The TP Act, however, provides an exception to the aforesaid tenet, in the case of a ���bona fide purchaser�۪. This note briefly examines the rights and protection available to a ���bona fide purchaser�۪ under the TP Act, and other relevant legislation.

The Securities and Exchange Board of India (SEBI) monitors, governs and regulates insider trading activities and other instances of market abuse through the SEBI (Prohibition of Insider Trading) Regulations, 2015 (PIT Regulations).