Monday, January 23, 2017

An Insight on Legal Aspects of Multi-National Corporations by Mr. Pranav Mahajan, BBC Global News

Mr. Pranav Mahajan - India Legal Manager, BBC Global News India Pvt. Ltd, recently graced the INLEAD Campus to give INLEADers some useful insights on the various Legal Aspects of Multi-National Corporations. 

The session started with Mr. Mahajan speaking about the many legal stipulations in our country and the loop holes that make some of those ineffective. Having experience in many companies including those in the media sector, he was well versed with many norms that impact business in India. While sharing his personal experiences, he helped students understand the legal recourses that need to be taken when there certain violations that take place

Legal laws and rules make an organization work ethically and in a better way towards their Stakeholder's. When someone either a company or an individual is bound to a legal Law, it makes a fear of being punished by imprisonment or penalty charges. Mr. Mahajan introduced students to The Legal framework in 3 categories:

· Legislative: Parliament houses(Where laws are being Framed)
· Executives: Parties who implement those laws
· Judiciary: The body which ensures that laws are being followed.
Thereafter, Mr. Mahajan explained about the judiciary framework which India is following, He shared some important facts like there were Approx. 5000 laws in our constitution even though 1500 have been removed.

Some other facts he shared like “If all judges work continuously on the pending cases it would take 365 years to solve one case. And, If One judge solves 1000 cases in an hour then it will be taking 35 years for all the pending cases in India.

Further, Mr. Mahajan shared details on some Important Laws such as:

1. Companies Act,2013
             i.  29 Chapters and 470 sections are in this law.
            ii.  One person can individually start a company.
            iii  A woman director is compulsory in a corporate.
            iv. Corporate social responsibility is mandatory for the large companies.
2. Sexual harassment of women at workplace (Protection, Prohibition, and Redressal) Act.
3.  Tax Laws
4.  Labor/Employment law
5.  Intellectual Property Law

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