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SYMBIOSIS INTERNATIONAL DEEMED UNIVERSITY

Title of the project

SERVICE INTERNSHIP

Name of the candidate

MEENAKSHI JENA

Division-‘C’ PRN-19010324060 Class -2 year (2019-24)

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SYMBIOSIS LAW SCHOOL, HYDERABAD

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Type of Internship- Online

Name of the Law Firm- LEGAJOIST- Advocates & Solicitors (Gurgaon Branch)
Legajoist as a Law Firm specializes in Corporate Laws, Corporate Governance, has strong team
of Litigation Lawyers

Address:
C - 113, South City 1, Gurgaon, NCR of Delhi
Ph.0124-424 1357, 424 1358
HH: +91 9990259333, email id- www.legajoist.com

Name of the supervisor- Sanjiv Dagar

Email id- sanjiv@legajoist.com

Contact no. - +919873394488

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Offer letter-

(Acceptance of internship mail)

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Completion letter/ certificate:

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DESCRIPTION

This was my second internship. It was an online internship where the supervisor taught us about
the topics which were practical based. The topics which were covered are- adhesive contract,
employment contract, MSME sector, waiver will jeopardise financial health of banks. This was
my first time in a law firm so I also got a lot of experience in this field. Sir was very informative
and every aspect of the laws were explained with complete detail. He also entertained all my
doubts so the concept was clear with me before I proceed with handling the cases. I learnt about
adhesion contract through screen sharing by using the Zoom app in which showed as various
adhesion contract and we learnt by seeing them and for also taught us the application of the
contract the contract in detail by taking a look at the life examples that so has faced in his life it
was an interactive session in which we could have meaningful discussions. . Along with
teaching, he assigned us with research work and asked us to make ppts for the presentations. We
learned that an adhesion contract, also known as a “boilerplate” contract or a “standard form”
contract, is an agreement between parties whereby one party (the one with a higher bargaining
power) sets out all or most of the terms of the contract. The other party (the one with a weaker
bargaining power) has little or no power to negotiate for reasonable terms.

Adhesion contracts are commonly used in situations involving consumer credit, insurance,
mortgages, leases, and large purchases. Although adhesion contracts tend to increase efficiency
and speed up the purchasing process, their use is controversial due to some of the potential
advantages and disadvantages they pose. Some of the advantages of this type of contract are
increasing economic efficiency, reducing transactional costs, etc. and the disadvantages are- risk
on buyer, unequal power relations and unjust terms.

Sir also explained us the legality of this contract in detail. I understood that adhesion contracts
are being used more and more as the use of digitally-signed contracts and industry-wide
standardized contracts grows, especially due to the increase in online purchasing of goods and
services and the efficiency they provide. Although adhesion contracts are legal in most countries,
they are often scrutinized thoroughly by courts before legal enforcement, especially due to the
potential for unreasonably one-sided terms that are in favor of the draftsman.
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We also learnt about employment contracts, some of the things that I noted down in my register
say that an employment contract is a signed agreement between an individual employee and an
employer or a labour union. It establishes both the rights and responsibilities of the two parties:
the worker and the company. An employment contract is an agreement that covers the working
relationship of a company and an employee. It allows both parties to clearly understand their
obligations and the terms of employment. It has arisen out of the old master-servant law, used
before the 20 th century. An employment contract should clearly define all terms and conditions
of the employment relationship. The most common elements to any employment contract include
the following-

1. Terms of employment
2. Employee responsibilities
3. Employee benefits
4. Employment absence
5. Dispute resolution
6. Nondisclosure agreements
7. Ownership agreements
8. Assignment clauses
9. Employment opportunity limitations
10. Grounds for termination

This was the third topic of discussion. Micro, Small and Medium Enterprises Development
(MSMED) Act, 2006 which was notified on October 2, 2006, deals with the definition of
MSMEs. The MSMED Act, 2006 defines the Micro, Small and Medium Enterprises based The
investment in plant and machinery for those engaged in manufacturing or production, processing
or preservation of goods and the investment in equipment for enterprises engaged in providing or
rendering of services. MSME sector of India is today at the gateway of global growth on the
strength of competitive and quality product range. However, facilitation from the Government is
required to minimize the transaction costs of technology upgradation, market penetration,
modernization of infrastructure etc. Looking at the growth of Indian Micro Small and Medium
Enterprise
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Sector over the last ten years, the MSME sector has often been termed the ‘engine of growth’ for
developing economy. The MSME Development Act of 2006 is perhaps the most crucial of these
recent policy changes. The policies of interest are state outlays and subsidies targeted towards
this sector. More specifically, we have discussed about Employment opportunities, Infrastructure
Development, Testing laboratories, Foreign direct investment policy, de- reservation,
Competitive technology, Export promotion within the MSME sector. The Micro, Small and
Medium Enterprises Development Act, 2006 is an Act of the Parliament of India. According to
the act, buyer who fails to make payment to MSMEs, as per agreed terms or a maximum of 45
days, would be liable to pay monthly compounded interest at three times the bank rate notified
that industries are divided into 2 categories. Manufacturing and services

The third topic that we discussed was about how waiver on interest during moratorium on term
loan repayment would jeopardize the financial health and stability of banks, as well as the
interest of debtors, the Reserve Bank of India (RBI) told the Supreme Court. The RBI made this
submission in an affidavit before the top court, which had sought its response to public interest
litigation (PIL) on whether interest ought to be taken from borrowers if they availed the benefit
of moratorium on loan repayment. The objective behind this was to “mitigate the burden of debt
servicing on account of the disruption caused due to the pandemic”, says the RBI. stream to
service their debts to banks. To soften the pressure on them, the RBI, in exercise of its regulatory
power, permitted banks to defer repayments on term loans till the end of August 2020. This was
not a mandate; it was just regulatory forbearance. The RBI, in fact, left the final decision to
banks. It however asked banks to charge interest on the outstanding portion of the loans during
the moratorium period.

OBJECTIVE AND METHODOLOGY OF THE INTERNSHIP:

Objectives-

1. To apply the business concepts and theories to real-world

decision-making.

2. To increase proficiency in specific business disciplines

3. Develop and improve business skills in communication,

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technology, quantitative reasoning, and teamwork.

4. Observe and participate in business operations and

decision-making.

5. Meet professional role models and potential mentors who

can provide guidance, feedback, and support.

6. Expand network of professional relationships and contacts.

7. Develop a solid work ethic and professional demeanour, as well as a commitment to ethical
conduct and social

responsibility.

Methodology:

Since it was an online internship, it had more of research work and drafting. Online sessions
were taken by the supervisor followed by assignments and presentation. The sessions were very
interactive and the topics he discussed gave a practical view on that particular topic.
Methodology refers to the comprehensive actions of research in my internship report. To achieve
the required results to establish the objective, some methods are used, such as- data collection
from both primary and secondary data available. Primary data were collected through
government sites and surveying, while secondary data were collected from the articles, journals,
reports which were available in internet, books and newspapers etc.

All of us had to give presentations once in a week on any specific topic that was assigned to us
by sir. During the course of my internship I gave presentations on MSME and adhesion contracts
and even the lectures during the internship felt like interactive sessions in which we could all
interacted with each other and we use to ask each other the doubt that we had regarding the
topics that sir explain to us. sir also asked us to type assignments that he checked and he also told
me the mistakes that I made. The reason why sir adopted this method of internship for because
he wanted us to build confidence in the field of law especially in the Corporate Law sector
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because of which I did learn a lot and before ending the fashion are supervisor told us how we
must make sure that the knowledge we have gained is going to guide us in the field of Corporate
Law

Observations and key findings:

while working on the cases that were assigned to us by sir, we had to apply knowledge that we
got from his lectures I observed a lot of things about adhesion contract and employment
agreement clauses. I learnt a lot of key features about them some of the features that I learnt
about adhesion contract and MSME are as follows.

Adhesion Contract - A contract of adhesion refers to a contract drafted by one party in a position
of power, leaving the weaker party to “take it or leave it.” Adhesion contracts are generally
created by businesses providing goods or services in which the customer must either sign the
boilerplate contract or seek services elsewhere. Some of the cases where I observed adhesion
contracts are used are Adhesion contracts are the standard form contracts commonly offered for a
consumer’s signature for such activities as buying a car, leasing a house, taking out a mortgage,
and getting insurance coverage. Also known as “adhesionary contracts,” or “”take-it-or-leave-it
contracts,” the makers of these contracts always have the upper hand, and no need to allow the
consumer to bargain regarding the terms. Other common uses for adhesion contracts include
home contractor or repair services, auto repair services, services for medical or dental care, and
veterinary care.

While contracts of adhesion unquestionably answer an important need in the business world,
there is much disagreement about the fairness of contracts of adhesion. Without form contracts,
the time it takes for negotiating and preparing individual contracts for each business transaction
would increase greatly, resulting in an outrageous increase in prices. The down side is that, with
each form contract signed, there is a potential for the seller to incorporate unfair terms.

In the judicial community, there is also debate as to whether the courts should enforce obviously
unfair clauses in adhesion contracts, and if so, to what extent. This brings up the question of
whether the makers of these contracts, which are entered into freely and without coercion by the
customer or client, should be allowed to evade liability for unfair contracts.
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Conclusion

overall it was a good internship I learnt a lot and this was the first time I attended an online
internship I learnt a lot of things about law I learnt the application aspect of law that I could not
learn in the classes. Since the first day everything was very well structured, sir unfolded the
whole plan of the internship during the first lecture. understanding the application of law is a
new concept to me that I did not have much of an idea before pursuing this internship because in
classrooms we are only restricted to books and bare acts of various provisions. In the internship
we had to use the information from sir’s lectures and we had to apply it to the case is that he
assigned to us. How in classes we are only dependent upon our books for marks we had to do our
own research like we had to go to government websites in order to gather information from
sources and we also referred to books and journal articles in order to acquire information on the
secondary sources. after finishing this internship I think my interest did incline a bit more
towards the corporate sector because that is the sector in which I have aspired of working in. I
got practical exposure of law but also of working in a press environment submitting the
assignments on time and helping sir with real world cases it felt really good being helpful to sir.
Sessions being interactive and no restrictions being imposed on whatever we write in our
assignment were the reason I was able to learn a lot more things about this that I did not know
before, overall it was an amazing internship experience.