Title insurance: Much-needed relief for home buyers
Title refers to the legal right to a property which is obtained by a requisite registered document. Every time a property changes hands there is a change in the title as well. Somewhere in the chain of transfers and transmissions of the property, certain lacuna prevails and some defect in the title is observed. The issue of ownership/title is a large-scale problem in the real estate market. Author :- Ms. Kanika Joshi
In conversation with Aaron Solomon, Managing Partner of Solomon & Co
Candid conversation with Mr. Aaron Solomon, Managing Partner of Solomon & Co., a premier law firm in India with a remarkable legacy of 109 years in India Mr. Aaron Solomon specializes in transactional work including mergers and acquisitions, joint ventures, exchange control regulations, competition laws, banking, investment funds, private equity, capital markets and securities laws.
The Maharashtra Shops & Establishments (Regulation of Employment and Conditions of Service) Act, 2017
The Maharashtra Shops & Establishments (Regulation of Employment and Conditions of Service) Act, 2017 has repealed the Maharashtra Shops and Establishments Act, 1948. The revamping of the provisions is in line with the Central and State Governments’ vision of promoting trade and commerce in the country whilst simultaneously balancing its social welfare obligations to workers and other stakeholders.
Suzlon counsel joins Solomon & Co
Jacqueline Aikin, the former senior legal counsel at Suzlon Energy, has joined Solomon & Co as an associate partner at Solomon & Co’s Pune office. Managing partner Aaron Solomon said the firm is always keen to “infuse fresh blood in the organization as it keeps us abreast with new ideas, innovation of thought process, and drives us to never settle in our comfort zones”. Aikin said her previous experience would allow her to approach the role as a business enabler. “As an in-house lawyer, one does a lot more than just provide legal advice,” she told India Business Law Journal.
Guest Post – Solomon & Co. – ‘Jewellery Design’: An Intellectual Property Asset
We are pleased to bring to you a guest post by Jinisha Shah and Sanjana Kochhar, Associates at Solomon & Co. on the protection of a jewellery design under the framework of various intellectual property laws in India. Solomon & Co. is a century old multi-service law firm with offices in Mumbai and Pune. The firm regularly advises intellectual property, media and entertainment clients.
Jinisha Shah is an Associate in the Intellectual Property Rights Team at Solomon & Co. She is a registered Patent and Trademark Attorney with over 8 years of experience in this field. Sanjana Kochhar has worked extensively on a wide range of corporate and intellectual property matters over the years.
India – Proposed amendments to the Commercial Courts Act 2015
According to recent “Ease of Doing Business” reports, India is getting better at enforcing contracts. The “enforcing contracts” indicator measures the time and cost for resolving a commercial dispute through a local first-instance court. One of the reasons for India’s improved ranking is the introduction of the National Judicial Data Grid, which generates case management reports on courts across India. In order to continue to improve India’s ability to deal with its huge backlog of cases, some amendments have been proposed to the Commercial Courts Act 2015. Author – Michelle Solomon Le Page
Negotiable Instruments (Amendment) Act, 2018 in India
Bahrain bank funds Navi Mumbai township project
Solomon & Co, which advised Khaleeji Commercial Bank in its funding of a ₹500 billion (US$7 billion) township project, had to work within the Shariah law framework to meet the bank’s requirements.
The Bahraini bank provided the funding for a mega township project near the upcoming international airport in Navi Mumbai. “One of the key challenges associated with the deal was to ensure that the documentation was compliant with Shariah law, as this was one of Khaleeji Commercial Bank’s prerequisites,” Aaron Solomon, the managing partner at Solomon & Co, told India Business Law Journal.
Godrej Properties buys 4 acre plot on Thane’s Ghodbunder Road
Godrej Properties has acquired a 4 acre land patcel on Ghodbunder Road in Thane. The real estate development arm of Godrej Group is planning to develop a residential project on the plot.
This deal is an outright purchase of land along with Godrej Fund Management, the company said in a statement. However, has not disclosed the seller and consideration paid for the plot.
Why should home buyers opt for Title Insurance?
Title insurance safeguards the interest of home buyers against unknown defects in the title of real estate.
When home buyers purchase real estate, one of the most significant risks is that of third parties raising claims to the premises. Such third-party claims could arise due to title disputes related to the land on which the premises are constructed, or due to unscrupulous builders selling the same premises to multiple buyers, or due to claims raised by lenders/investors in the real estate project, or various other reasons.
Interview – Germaine Pereira, Partner
Germaine Pereira, Associate Partner of Solomon & Co. shares her insights on the provisions of Right to Education Act, 2009 including the modalities of free and compulsory elementary education for all the children of India and the one’s with special needs, mental illnesses, disabilities, etc.
Reena Singh is a trained Occupational Therapist and founder of Khushi Pediatric Therapy Centre in Mumbai-India. She works with families of kids with special needs and kids who have emotional and behavioral challenges. With 17 years of experience, Reena works intuitively with kids and their families using an eclectic approach.
Real Estate 2nd Edition
This country-specific Q&A provides an overview to real estate laws and regulations that may occur in the India. It will cover the most pertinent issues including ownership structures, restrictions, transfers, taxes and environmental contamination. This Q&A is part of the global guide to Real Estate. For a full list of jurisdictional Q&As click on Read more.
Associated Partners Promoted to Partnership
Solomon & Co. has promoted four of its Associate Partners – Germaine Pereira, Kinjal Champaneria and Saurabh Gupta – to partnership.
The promotions took effect from December 1. The firm now has eight partners at its two offices in Mumbai and Pune.
Interview – Aaron Solomon
The firm advises Indian and international companies and high net-worth individuals on all aspects of law. Their practice enables them to provide comprehensive solutions for specific client matter, based upon an understanding of all relevant legal issues. Aaron graduated from St. Xavier’s, Mumbai with a ‘Political Science’ specialization and then studied law at Government College. He qualified as an advocate in 1995 and in 1996 he was the gold medallist in the all India Solicitor’s examination.