Maintaining the rich tradition of Trade Association of Information Technology (TAIT) which is India’s leading IT Association, It was yet another Evening on Thursday 21st November,2019 for TAIT Members to come together and get updated on important aspect of Business as a part of next edition of “TAIT Knowledge Series”, with Agenda of “Business and Laws” The Speaker was Nonother than Eminent Lawyer Mr. Sidharth Murarka, who is one of the Very few Advocate on Record, Supreme Court of India from Mumbai.
Advocate Mr. Murarka started his address with Enlightening the Members on something very exclusive from regular. Advocate Mr.Murarkatouched upon a very crucial basic aspect relating to power of attorney. Like How power of attorney Stamp paper is to be purchased, in what name and how to deal with power of attorney. He also enlightened the members on what is to be done when they get their documents notarized, which thumb impression is to be put up and other issues were discussed. He highlighted the issues of misguidance to the members to buy stamp paper of atleastRs.200 for every document. Infact he informed the members thatMaharashtra government department does notrequire stamp papers. From the very basic, he then turned up to the areas relating to the cheque bouncing cases, how notice is to be issued and what precautions are to be taken. He even highlighted supreme court judgements including Indian banking judgement where supreme court has tried to expedite the entire process, but he highlighted that the magistrate courts are not implementing it in true spirit. He informed that the supreme court has gone to the extent of digital hearing wherein filling can be done and summons can be issued online.
Apart from this he also covered, how MSME benefits can be taken by the members not only restricted to the trade benefits but for loan finances too and also briefed members about , project reports and the legal benefits available to small and micro enterprises.
He informed the members about the difficulties faced and issues relating to arbitration and how the provisions of MSME act is not implemented by the facilitation council and how the trade should proceed and get this implemented immediately.
He went on to highlight the provisions of commercial law which is the latest enactment and how commercial court function. However his suggestion was that those who are not covered under MSME act should go for arbitration. He pointed out the provisions of law including section 17 where even the arbitration council can grant interim relief. He advised the TAIT to go into arbitration. Members continuously kept asking questions which were satisfactorily answered by Advocate Mr. Murarka. He covered every aspects relating to trade laws be it arbitration, be it civil suit and other issue. The idea was to enlighten the members on the legal aspects of law. The session was very interesting and quite interactive. As the session was planned for one and half hour but it continued much beyond 2 hours. The members were so much involved that they did not get up from their chair and wanted more, But Due to paucity of time the session had to be concluded.
Towards the end TAIT Gen. Secretary Mr.Viren Bavishi updated members about upcoming Events of TAIT Seagate Cricket Tournament, which is being spearheaded by TAIT Director Mr.SunilThariani. Seagate has already confirmed themselves as Title sponsor, and Tournament is Powered by HikVision. Many Other participation opportunities are still available and interested members need to contact TAIT office.
TAIT President Mr.Samir Parekh Felicitated the speaker, and thanked members for good turn out. The session was very much interactive and many of the members got an entirely different perspective about legal aspects and compliance which makes business easy. TAIT Director Mr.Pravin Dhoka and Vice President Mr.Ajay Parekh updated about next “Knowledge Series” programme which is being planned on 13th December,2019.