Format of Sale Deed

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FORMAT OF THE DEED
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SALE DEED

1. Date: _______________
2. Place: _______________
3. Parties:
3.1 ________________, son of ____________, by Nationality Indian, by faith _______, by occupation – __________, residing at ____________________, Police Station – _________________.
(Vendor, includes legal heirs, successors, executors, administrators, legal representatives and assigns)
AND

3.2 ________________, son of ____________, by Nationality Indian, by faith _______, by occupation – __________, residing at ____________________, Police Station – _________________.

(Purchaser, includes legal heirs, successors, executors, administrators, legal representatives and assigns)



[Vendor, Purchaser collectively Parties and individually Party.]

A small glimpse of AVIATION

The Indian aviation industry is one of the fastest-growing aviation industries in the world with private airlines accounting for more than 75 per cent of the sector of the domestic aviation market (as of 2006). With a compound annual growth rate (CAGR) of 18 per cent and 454 airports and airstrips in place in the country, of which 16 are designated as international airports, Union Civil Aviation Minister Mr Praful Patel has stated that the aviation sector will witness revival by 2011.
With an increase in traffic movement during December 2009 and increase in revenues by almost US$ 21.4 million, the Airports Authority of India seems set to accrue better margins in 2009-10, as per the latest estimates released by the Ministry of Civil Aviation. This is being primarily attributed to increase in the share of revenue from Delhi International Airport Limited (DIAL) and Mumbai International Airport Limited (MIAL).
Passengers carried by domestic airlines from January-February 2010 stood at 8,056,000 as against 6,761,000 in the corresponding period of 2009—a growth of 19.2 per cent, according to a report released by the Ministry of Civil Aviation.
The Hyderabad International Airport has been ranked amongst the world's top five in the annual Airport Service Quality (ASQ) passenger survey along with airports at Seoul, Singapore, Hong Kong and Beijing. The Hyderabad International Airport is managed by a public-private joint venture consisting of the GMR Group, Malaysia Airports Holdings Berhad and both the State Government of Andhra Pradesh and the Airports Authority of India (AAI).
The US Ambassador to India Timothy J Roemer, has said that the US will work with the Indian government and the domestic private sector to make the country an aviation hub. Speaking at India Aviation 2010, Roemer said that the public-private initiative, US-India Aviation Programme, would work together with the Directorate General of Civil Aviation on helicopter aviation security.
The Airports Authority of India (AAI) is set to spend over US$ 1.02 billion in 2010, towards modernisation of non-metro airports. AAI is planning the city-side development of 24 airports, including those at Ahmedabad and Amritsar. Additionally, 11 new greenfield airports have been identified to reduce passenger load on existing airports, according to Praveen Seth, member-operations, AAI.
The government has also merged national carriers Air India and Indian Airlines into a single entity, the National Aviation Company Ltd (NACIL). The civil aviation ministry has prepared a blueprint to convert Delhi airport into an international hub for passenger airlines with effect from August 2010 to help the airport utilise large amounts of additional capacity that will be ready by July 2010. Under the plan, NACIL will set up its hub in Delhi.
Investment Policy
The consolidated document on FDI policy was released on March 31, 2010.
Currently, for the civil aviation sector:

• FDI up to 100 per cent is allowed under the automatic route for greenfield projects.
• For existing projects, FDI up to 100 per cent is allowed; while investment up to 74 per cent under the automatic route and beyond 74 per cent under the government route.

The Road Ahead
Investment opportunities of US$ 110 billion are being envisaged up to 2020 with US$ 80 billion towards new aircraft and US$ 30 billion towards development of airport infrastructure, according to the Investment Commission of India.

• Indian aerospace companies are growing too. Hindustan Aeronautics Limited (HAL) was ranked 40th in Flight International's list of the top 100 aerospace companies last year.
• Aircraft manufacturing major, Boeing, is in the process of setting up the US$ 100 million proposed Maintenance Repair Overhaul (MRO) facilities in Delhi. Air India is also in the process of launching a Cargo Hub in Nagpur while Deccan Aviation has already started one from the city.
• GE Aviation and Air India will jointly invest US$ 90 million to set up a maintenance, repair and overhaul (MRO) facility in Mumbai.
• Indocopters Private Ltd, distributor for Eurocopter helicopters in India, is planning to set up a helicopter maintenance, repair and overhaul (MRO) facility in Bhubaneswar, the company’s fourth service centre in the country.

Ten industries to set up ITCs

Kolkata/ Bhubaneswar: To meet the manpower requirement for upcoming industries in the state, the Orissa government would sign memorandum of understanding (MoU) with ten industries for setting up of Industrial Training Centres (ITCs). The partnering companies included Tata Steel, Balasore Alloys, Paradeep Phosphate (PPL), Indian Oil Corporation, Monnet Ispat among others. The ITCs are proposed to be developed in public-private-partnership (PPP) mode and the state government would provide the required land. The MoU is slated to be signed on 24th of this month, official sources said. Though twenty seven industries have given proposals for setting up ITCs in the state, the government would ink pact with ten of them in the first phase. The Orissa government targets to open at least one ITI in every block of the state. It may be noted, out of 314 blocks in Orissa, 116 blocks don’t have ITIs. At present, the state boasts of 30 ITIs in the government sector and 510 in the private sector. Similarly, the government has 13 polytechnics and 23 more are planned to be opened soon.

3 legal changes that can change your life

What does Parliament have in store for us? Which are the laws that are going to change our lives?

1 Goods & Services Tax 
The government intends to introduce a goods and services tax (GST) regime in India by April 2010. The proposed GST will integrate most indirect taxes on goods and services at state and central levels. GST will bring all these taxes under one head that will be levied at the point of sale, instead of the point of origin.

To a large extent, this means there will be cost reduction at the point of origin. This is because GST is to be levied on the value added at each stage of sale and purchase or supply with an in-built credit mechanism such that the tax is a pass-through for businesses, and the tax-burden is borne by the ultimate customer.

Tax compliance is expected to go up as GST will rely on computer-enabled systems. So a unique identification number could generate a centrally captured trail all the way from the manufacturer to the end retailer. Today, if it wishes, a major retailer can opt not to register select purchases in its system and make cash purchases.

For companies, the benefit will be in the form of lower tax rates owing to a larger tax base and better compliance.

2 Companies Bill 2009

Last year the Companies Bill 2008 was introduced in the Lok Sabha but did not become law. It was re-introduced in Parliament as the Companies Bill 2009 and is likely to become law in 2010.If it does, it will likely bring about significant changes in the way business is done in India, make it easier to start and close businesses, and protect shareholders. The bill, introduced by Corporate Affairs Minister Salman Khurshid, is centred on stakeholder protection, with provision for class action suits that allow a group of people with a similar grievance to file a joint petition.

It has met with stiff resistance from certain quarters of the legal fraternity who believe the new bill will only create confusion and overlap and conflict with numerous existing laws.

3 Fast Tracking Justice

Weighed down by the burden of legal reform, Law Minister Veerappa Moily has taken on the biggest bet of his career, yet. In October this year, he unveiled an audacious roadmap for judicial reforms to reduce the average life of litigation from 15 to just three years, a task he wants accomplished by December 2011. The multi-pronged initiative looks promising with provisions for a National Arrears Grid to compile accurate data and appointments for additional high court and lower court judges temporarily to bring down the court congestion. 

One of the proposals includes the setting up of a special purpose vehicle involving the likes of TCS, Infosys and Wipro as well as Innova (the satellite communication provider). The SPV will set up e-systems that will enable the justice administration system to move faster. The SPV will also recruit competent hardware and software personnel who will be attached to the high courts. The techies will also take classes on e-systems for personnel with district courts.

INDIAN TEXTILE INDUTRY

The Indian textile industry provides direct employment to an estimated 35 million people and contributes four per cent to gross domestic product (GDP) in 2008–09. The industry is dominated by small players across the value chain – raw materials, spinning, weaving/knitting, processing and garment manufacture. India has availability of a variety of raw materials – cotton, silk, jute and wool and in terms of cost, India has an advantage over comparative countries. India has abundant availability of manpower with skill sets across all activities of the textiles value chain.

India to overtake China in growth by 2018: EIU

India will overtake China to become world's fastest growing economy by 2018, said the Economist Intelligence Unit (EIU), the research arm of London-based Economist magazine. Because of the favourable demography — higher percentage of working population — India's growth rate will continue to remain on the higher side, said Anjalika Bardalai, senior analyst at EIU. At present, China is the fastest growing economy in the world. Bardalai said considering strong fundamentals, "our long range forecast suggests that India will sustain an average annual growth rate of 6.4% to 2030." India will take the lead not because of its growth rate is likely to attain double-digit level but China's growth rate will moderate with development of its economy, she added. However, for the current financial year, Bardalai said Indian economy would grow at 6.8% only. But, this is not comparable with figure of 7.2% projected by the government as EIU has adopted a different methodology to calculate the rate. "Our projection is based on expenditure in economy and is not on factor cost as done by the Indian government," she explained. She said the growth rate will pick up to 7.7% in 2010-11 and 8% in 2011-12. "Continued domestic consumption, spurred by rising income and a growing middle class, will be primary drivers behind India's growth. At the same time, high savings and investments will help India achieve the higher growth rate." According to EIU, inflow of investments through foreign institutional investors (FIIs) will touch $75 billion by 2014, which is currently hovering at around $36 billion. EIU felt that the biggest hurdle to achieve higher growth is the high inflation and infrastructural bottleneck. As the inflation has already risen close to 10% in February, the monetary pressure is likely to increase.