The <keyword id="19946148" type="General" weightage="20" keywordseo="Karnataka-High-Court" source="keywords">Karnataka High Court</keyword> recently dismissed an appeal filed by a woman seeking Rs 6 lakhs in monthly <keyword id="20538992" type="General" weightage="20" keywordseo="alimony" source="keywords">alimony</keyword>, citing the lack of reasonable justification for the requested amount. <keyword id="22894144" type="General" weightage="20" keywordseo="Justice-Lalitha-Kanneganti" source="keywords">Justice Lalitha Kanneganti</keyword>, presiding over the case, found the petitioner's claim to be excessive and asked for more concrete figures regarding her actual expenses.<br /><br />The appeal, presented by Advocate Akarsh Kanade on behalf of the petitioner, sought the large sum to cover what was described as her “basic needs,” which included items such as bangles, chains, sandals, and watches. The court questioned whether such expenses constituted "basic needs" and noted that the petitioner did not have any dependents or children.<br /><div type="twitter" handle="DeepikaBhardwaj" handlename="DeepikaBhardwaj" favoritecount="0" retweetcount="0" id="1826237815962907135"></div>According to the Bar and Bench, the court said that she has no responsibility for any other family member or children, “Does anybody spend this much? A single lady for herself?” <br /><br />During the hearing, the petitioner referenced her ex-husband’s preference for branded clothing, such as Calvin Klein t-shirts costing around Rs 10,000, arguing that she should be entitled to similar living standards. Additionally, she cited health concerns, including knee joint pain and fever, which she attributed to negligence during the marriage.<br /><br />Further, Judge Lalitha Kanneganti also refused to entertain the request, saying, “If she wants to spend, let her earn,” TOI reported.<br /><h2>But how much alimony is considered fair in India?</h2>In India, alimony, also referred to as <keyword id="20027249" type="General" weightage="20" keywordseo="maintenance" source="keywords">maintenance</keyword>, is a key aspect of <keyword id="19911325" type="General" weightage="20" keywordseo="divorce" source="keywords">divorce</keyword> proceedings. This <keyword id="19972877" type="General" weightage="20" keywordseo="financial-support" source="keywords">financial support</keyword> is provided by one spouse to another, irrespective of the divorce grounds. The determination of alimony involves complex legal and financial assessments, taking into account factors such as the earning capacity of both spouses, their financial needs, the length of the marriage, and the lifestyle maintained during the marriage.<br /><br />The <keyword id="19900742" type="General" weightage="20" keywordseo="supreme-court-of-india" source="keywords">Supreme Court of India</keyword> has set a general benchmark for monthly alimony, where the husband may be required to pay 25% of his net salary to his estranged wife. While this guideline applies to monthly payouts, no specific rule exists for lump-sum settlements, though they typically range from one-fifth to one-third of the spouse's net worth.<br /><br />The calculation of alimony depends on various factors, such as:<br /><br /><ul><li>Monthly incomes of both spouses</li><li>Educational background and employment prospects</li><li>Duration of the marriage</li><li>Number of children and child custody arrangements</li><li>Husband's income, liabilities, and lifestyle</li><li>Reasonable needs and financial independence of the wife</li></ul>In case of the Karnataka woman, the court expressed its expectation that more reasonable figures be provided to support her request. "If you want an order from the court, I want actual figures, not these lakhs of figures," said Justice Kanneganti. The judge also stated that the court is not a place for bargaining and advised the petitioner to be realistic in her demands.<br /><br />While the petitioner’s counsel attempted to lower the alimony request, the court maintained that without a rational basis for the amount, the application could not be entertained. Justice Kanneganti emphasised that the appeal would be dismissed if a more reasonable claim was not presented.<br /><br />In its final remarks, the court suggested that the appeal could be denied solely on the grounds of being unreasonable, stressing the importance of presenting justified and fact-based requests in legal proceedings.<br />    <div type="Article" hostid="261" msid="112689204" title="Jennifer Lopez and Ben Affleck reportedly didn&amp;#39;t sign a prenup. Here are the assets they may have to split 50/50 in their divorce settlement." mstype="2" mssubtype="0"></div><br />

A Karnataka woman is being ridiculed for demanding an alimony of Rs 6 lakh monthly from her ex. Is this fair?

<br /><ul><li>There is no law in India that states that the wife should get a certain percent of their husband's income or wealth as <keyword id="6406198" type="General" weightage="20" keywordseo="alimony" source="Orion">alimony</keyword>. </li><li>Actual settlement amount depends on the lawyer, the income of the husband and number of dependents, among other factors. </li><li>If there is accusation of mental cruelty or domestic physical violence against the husband, those will have to be tested before the court. </li></ul>In the process of reaching an agreement following their divorce, Nawaz Modi Singhania, 53, the separated spouse of billionaire industrialist Gautam Singhania, has reportedly requested 75% of his purported $1.4 billion fortune for herself and their two daughters.<br /><br />When Bollywood star Hrtithik Roshan and Sussanne Khan divorced in 2013, she had reportedly demanded ₹400 crore as alimony. It was later settled at ₹100 crore, though not confirmed. <br /><br />High-profile divorce cases make headlines, and when industrialists are involved they may also affect share prices. But when a divorce happens and the wife makes an alimony claim, how do things pan out? <br /><br />"The court will look at the education levels of the person and their ability to be employed while deciding alimony. It's very unlikely that somebody will get 75% of the assets," said Delhi-based corporate lawyer Anuroop Omkar, founding partner of law firm AK &amp; Partners.<br /><br /><strong>There is no law on settlement percentage</strong><br /><br />There is no rule in India which says that you have to give so and so percent to your wife as alimony. <br /><br />“It depends on a number of factors. One of them is what is your strategy to get the money- what is the lawyer’s strategy, what are arguments, what is your lawyer’s research. This happens because there is no set rule,” says Vandana Shah, a divorce lawyer. <br /><br />So the actual settlement amount depends on the lawyer, the income of the husband,what the wife is earning and depends on what comes out in court. It also depends on the number of dependents. <br /><br />In the Rajnesh vs Neha divorce case, a few years ago, the court ruled that there's no fixed formula to determine the amount of maintenance to be granted. The awarded maintenance should be fair and practical, ensuring that it enables the wife to sustain herself comfortably and reasonably. The adequacy of the sum should be assessed based on the wife's ability to maintain herself with a reasonable standard of living.<br /><br />“Since November 2020, as per Rajnesh V/s Neha as per the Supreme Court guidelines, every wife who makes a claim for maintenance,makes an application in the prescribed format which - includes the financials of the wife, her monthly expenses, investments, properties she owns and so on. The husband is also expected to file his application with his financials in the format prescribed by the Supreme Court,” says S<a href="https://www.linkedin.com/in/sandhya-vasudevan-sondhi-1099215/overlay/about-this-profile/">andhya Vasudevan Sondhi</a>, founder, SVS Legal, a Mumbai-based boutique law firm that handles family matters. <br /><br /><strong>Outside court settlement</strong> <br /><br />It is advised that such separation issues be amicably dealt with. Especially in the case of the Singhanias, there will be allegations and counter allegations by both the parties, especially since the tenure of marriage is long. <br /><br />“Looking at the gravity of the whole situation and looking at the children and the long tenure of marriage, if both the parties talk it out and settle the matter, it could be wonderfully handled. If a divorce can be done in a mutual way, it works in the best interest of both the parties, the children and also the respective families,” says Advocate Siddhartha Shah , a divorce lawyer. <br /><br />The law thus provides a solution to this. Section 28 of the special marriage act, talks about of divorce by mutual consent. <br /><br />“If there are unreasonable claims, then one of the parties may not agree. Then the court will have to look at each and every aspect of the accusations and then the court will have to weigh it according to the primary and secondary evidence that is produced before the court,” says Shah. <br /><br />It is noteworthy that if there is accusation of mental cruelty or domestic physical violence against the husband, that will have to be tested before the court. Then the case goes to trial and that can become a time consuming process.<br />

High profile divorces are stories of claims and counterclaims best settled outside court

<img class="gwt-Image" src="/photo/49013731.cms" /> In a country like ours, where marriages are made in heaven and dissolved in courts with an ugly experience and expensive legal battles, a solution – to cut down the cumbersome practice – might come-up soon.<br />
<br />
In a bid to ensure a happy ending for the fighting couples, the government plans to introduce the concept of “<a href="http://www.businessinsider.in/searchresult.cms?query=Pre-nuptial+agreement">pre-nuptial agreement</a>”.<br />
<br />
It is a common practice in the west, especially among celebrities. It is a pact which couples sign before marrying each other. The pact documents details like who does what and more importantly, who gets what if the marriage didn’t worked out and breaks down.<br />
<br /> The couple mutually agree on the responsibilities like after the <keyword id="6358814" type="UNKNOWN" weightage="20" keywordseo="Wedding">wedding</keyword> who will do the dishes, how many and which all foreign countries the husband will take his wife out to, who will drop the kids to school…and the list goes on.<br />
 <br /> However, the only hindrance is that <keyword id="44774" type="ORGANIZATION" weightage="20" keywordseo="Indian-law">Indian law</keyword> doesn’t recognise these pacts and cites them useless. But now, the <keyword id="173679" type="ORGANIZATION" weightage="20" keywordseo="Ministry-of-Women-and-Child-Development">Ministry of Women and Child Development</keyword> led by <keyword id="42851" type="PERSON" weightage="20" keywordseo="Maneka-Gandhi">Maneka Gandhi</keyword> plans to change this.<br />
<br />
The Ministry is also outlining modalities for introducing prenuptial agreements into the existing legal system as an option for couples.<br />
<br />
As mentioned in an Economic Times report, the sources in the ministry informed that a consultation within ten days might take place. For this top lawyers, representatives from national law schools in Delhi and Bengaluru, sociologists, psychologists and experts in the field will get invited.<br />
<br />
Legal experts said the introduction of such a facility will have to entail wide consultations. "It will need to be seen whether to amend existing laws or introduce a new provision," said senior lawyer Mohan Jain, a former Additional Solicitor General of India.<br />
<br />
Officials aware of the move said, "If a couple chooses to part ways and apply for legal separation, their rights and responsibilities are pre-defined. This would save time, expenditure and energy of warring couples.<br />
<br />
Among other advantages of the agreement is the one which says that that neither the husband nor the wife can contest a demand for dissolution of marriage unless they both have mutually agreed upon it.<br />
<br />
If mutually agreeable, a couple can sign the agreement, which would have provisions to penalise offending spouses if they refuse to honour the pacts. The quantum of such punishments will be discussed and decided during the consultation process.<br />
<br />
Officials said the Indian Contract Act of 1872 that is in force now often acts as an impediment in the implementation of prenuptial agreements, with its Sections 23 &amp; 26 treating these pacts as "null &amp; void". None of the marriage Acts in India also provide for prenuptial agreements. Legal ways to amend the laws are being contemplated.<br />
<br />
WCD ministry officials said introducing prenuptial agreements would help save marriages. "Once, the liabilities, assets and responsibilities are decided in advance, a husband will be more careful and cautious in seeking dissolution. He would have a clear idea of the amount of alimony he will have to pay to his wife," one official said, underling the proposed plan's pro-women stance.<br />
<em>Image: indiatimes </em><br />


Pre-nuptial agreement making its way to India soon!

After the Supreme Court ruled on June 10 that a <keyword id="20100511" type="General" weightage="20" keywordseo="Muslim-woman" source="keywords">Muslim woman</keyword> is entitled to claim <keyword id="22407616" type="General" weightage="20" keywordseo="maintenance-after-divorce" source="keywords">maintenance after divorce</keyword>, <keyword id="20066703" type="General" weightage="20" keywordseo="National-Commission-for-Women" source="keywords" meta.keywordsubtype="org" meta.entityname="National Commission for Women" meta.hostid="261" meta.entityid="National Commission for Women">National Commission for Women</keyword> (NCW) Chairperson Rekha Sharma welcomed the decision and stated that all <keyword id="20013419" type="General" weightage="20" keywordseo="personal-laws" source="keywords">personal laws</keyword> related to women should be equal across all religions.<br /><br />Speaking to ANI, Rekha Sharma said, "I always say that <keyword id="19927138" type="General" weightage="100" keywordseo="womens-rights" source="keywords">women's rights</keyword> should be universal and not determined based on <keyword id="19969367" type="General" weightage="20" keywordseo="religion" source="keywords">religion</keyword>. All personal laws related to women should be equal across all religions. Under the Hindu Marriage Act, you get alimony after divorce, so why should a Muslim woman not get it? I welcome what the Supreme Court has said."<br /><br />The Supreme Court on June 10 ruled that a divorced Muslim woman is entitled to seek maintenance from her husband under Section 125 of the Criminal Procedure Code (CrPC), asserting that any discrimination against Muslim women in matters of alimony under the secular laws of the country would be regressive and against <keyword id="20809677" type="General" weightage="20" keywordseo="gender-justice" source="keywords">gender justice</keyword> and equality.<br /><br />Earlier, the <keyword id="20066702" type="General" weightage="20" keywordseo="NCW-chief" source="keywords">NCW chief</keyword> wholeheartedly welcomed the Supreme Court's landmark ruling, stating that the decision is a significant step towards ensuring <keyword id="20250318" type="General" weightage="20" keywordseo="gender-equality" source="keywords">gender equality</keyword> and justice for all women, regardless of their religion.<br /><br />The NCW Chairperson emphasised that the decision reinforces the principle that no woman should be left without support and protection under the law.<br /><br />The NCW remains committed to advocating for women's rights and ensuring that justice prevails for every woman in India, she emphasised.<br /><br />Rekha Sharma also addressed the "lewd" comment incident that occurred earlier regarding a picture of the widow of Kirti Chakra recipient Captain Anshuman Singh.<br /><br />NCW chief Rekha Sharma said, "It was a very derogatory comment that we saw on social media, and we immediately took suo motu cognizance of it. The police have filed an FIR against this person. However, the individual is most likely from Pakistan."<br /><br />"Many such comments are being made, and we are taking those comments very seriously and urging the police to file FIRs in those cases as well," she added.<br /><br />Delhi Police acknowledged the National Commission for Women's (NCW) letter to the Delhi Commissioner of Police, demanding the arrest of the man and submission of a detailed report to the panel within three days.<br /><br />The police said a complaint was received from the National Commission for Women, alleging that a social media user had made an extremely lewd and derogatory comment on a picture of the widow of a late soldier.<br /><br />Taking cognizance of the complaint and after a preliminary examination of its contents, a case FIR under Sections 79, BNS-2023, and Section 67 of the IT Act 2000 has been registered at the Police Station Special Cell, and an investigation is underway.<br /><br />Captain Anshuman Singh, a doctor, was posted with the 26 Punjab as a medical officer in the Siachen Glacier area. On the night of July 19, 2023, there was a fire incident at an Indian Army ammunition dump at the camp where he was posted.<br /><br />Captain Singh saw a fibreglass hut engulfed in fire and immediately acted to rescue four to five individuals trapped inside. He went inside the medical investigation room, which was also on fire, to retrieve the critical medical aid box but could not make it out due to heavy fire amid strong winds. He was awarded the Kirti Chakra posthumously.<br /><br />Captain Singh's wife, Smriti, and his mother received the award from President Droupadi Murmu.<br />

All personal laws related to women should be equal across all religions: NCW chief Rekha Sharma

India’s economy seems to be doing well, but not many Indians are. Securing basic amenities such as food and housing is something that a rather large sect of our population still seems to be struggling with. During these trying times, providing unconditional <keyword id="19940433" type="General" weightage="20" keywordseo="financial-assistance" source="keywords">financial assistance</keyword> to those in need might seem like the thing to do — if only things were as simple as that.<br /><br />This concept of a guaranteed or <keyword id="20094389" type="General" weightage="100" keywordseo="universal-basic-income" source="keywords">universal basic income</keyword> (GBI or UBI) is a form of ‘freebie’ — a term that many Indian politicians use to refer to the give-aways from the state. The concept is relevant to every part of the world facing issues around social welfare and <keyword id="19987670" type="General" weightage="20" keywordseo="economic-inequality" source="keywords">economic inequality</keyword>, the US being one of them. The very concept of government handing out money or goods and services for free invokes a sense of notion of state socialism that is usually at the loggerheads with the current economic model of capitalism. <br /><br />But as the economic divide widens, is there some merit to this idea of state helping the poorest? This is where results of the experiment conducted by <keyword id="257641" type="General" weightage="20" keywordseo="sam-altman" source="Orion">Sam Altman</keyword>’s <keyword id="22626820" type="General" weightage="20" keywordseo="OpenResearch" source="keywords" meta.keywordsubtype="org" meta.entityname="OpenResearch" meta.hostid="261" meta.entityid="OpenResearch">OpenResearch</keyword> could help shed some much-needed light on this pervasive issue.<br /><h2>Upward economic mobility through GBI</h2>The three-year study, conducted by OpenResearch — a nonprofit research organisation backed by OpenAI CEO Sam Altman — explored the impact of a $1,000 monthly, no-strings-attached cash transfer on lower-income individuals. This study is the most extensive of its kind yet, providing compelling evidence on how such cash payments can help families meet basic needs.<br /><br />“We’re all finding the same results,” said Stacia West, co-founder and director of the University of Pennsylvania’s Center for <keyword id="20267224" type="General" weightage="20" keywordseo="guaranteed-income" source="keywords">Guaranteed Income</keyword> Research. “You give people cash, and they make great decisions for themselves and their family in a way that promotes upward economic mobility."<br /><br />Initiated in 2020, the study involved 3,000 lower-income participants from Illinois and Texas. One thousand participants received $1,000 monthly, while a control group of 2,000 participants received $50 monthly. Researchers highlighted that cash payments offer critical flexibility, allowing recipients to address their diverse and shifting needs. Here are some key findings:<br /><br /><ul><li>Spending patterns: increased spending by an average of $310 per month, primarily on essentials like food, housing and transportation. </li><li>Passing on the gift: $22 more was spent monthly on financial support for others, including gifts, loans, donations and alimony.</li><li>Work and leisure: Recipients worked 1.3 hours less per week than the control group, enjoying more leisure time while remaining active in the workforce.</li><li>Healthcare utilisation: 26% increase in hospital visits and a 10% increase in dental and emergency room visits. </li><li>A notable decrease in problematic alcohol and some illicit drug use was also reported.</li><li>Mobility and housing: 4.4 percentage points more likely to move neighborhoods. Future analyses will explore the impact of cash transfers on housing stability and neighborhood quality.</li><li>Entrepreneurial activity: Especially among Black and female recipients, there was a higher likelihood of having a business idea and starting a business within five years.</li></ul>However, cash payments were not a panacea. The study found no significant effects on physical health, healthcare access, or behaviors like exercise and sleep. Improvements in stress, mental distress, and food security were observed primarily in the first year, with these benefits fading by the second year due to factors like inflation and the end of pandemic-era aid.<br /><h2>A push towards guaranteed basic income</h2>Sevly Snguon, co-founder and co-chair of the Guaranteed Income Health Consortium at Johns Hopkins Bloomberg School of Public Health, emphasised that guaranteed income is one piece of the puzzle. “There’s still a need for additional resources for parents, affordable housing, and healthcare,” Snguon noted. “But guaranteed income helps during key transition periods.”<br /><br />OpenResearch plans to release further findings on the effects of cash transfers on housing outcomes, political attitudes, and recipients’ children in the coming months.<br /><br />The idea of GBI has garnered support from various tech industry leaders, including OpenAI’s Sam Altman. In a 2016 blog post, Altman expressed his interest in basic income as a response to technology-driven job displacement, envisioning a future where such initiatives could help eliminate poverty.<br /><br />Notable advocates like former Twitter CEO Jack Dorsey and Tesla CEO Elon Musk have also supported GBI, leading to the launch of numerous pilot programs across the country. Research shows that basic income can significantly reduce poverty. For instance, a 2020 study by Columbia University found that $250 monthly payments could reduce poverty by 40%.<br /><h2>Battling public opinions and other challenges</h2>Despite promising research, GBI faces opposition. A 2020 Pew Research Center survey found that over half of US adults opposed a universal basic income of $1,000 a month, with the greatest opposition among white adults. Some states, including Iowa and South Dakota, have even passed legislation to prevent local governments from implementing such programs, arguing that they might discourage work.<br /><br />Sara Kimberlin, executive director of the Stanford Center on Poverty and Inequality, notes that the impact of basic income on employment varies. While some studies show increased employment, others indicate a decrease, often for positive reasons like caregiving.<br /><br />“There really isn't anywhere in the United States where someone can live on just $1,000 a month,” Kimberlin said. “So of course people are working and have other income sources, with needs that go beyond what $1,000 a month can cover.”<br /><br />India faces similar challenges. GBI is usually included under the umbrella of ‘<keyword id="6373539" type="General" weightage="20" keywordseo="freebies" source="Orion">freebies</keyword>’ in the country and is often thought of as political parties’ way to curry the public’s favour ahead of the elections. However, several research studies have shown that some of these measures such as free television, transportation, and groceries can act as a safety net for the poorest, contributing to sustainable development goals like no poverty and no hunger.<br /><br />For now, the OpenResearch study provides valuable real-world insights into the potential of GBI to support lower-income families. While not a cure-all, cash payments offer significant benefits, helping recipients navigate economic challenges and improve their quality of life, the study has shown. As more research unfolds, the push for guaranteed basic income continues to evolve, aiming to create a more equitable and secure future for all.<br />  <div type="Article" hostid="261" msid="112090873" title="The director of Sam Altman&amp;#39;s basic income study says one of the most interesting results was an increased interest in starting a business" mstype="2" mssubtype="0"></div><br />

Universal basic income: Should the government give ‘unconditional money’ or ‘freebies’ to the poor?

<ul><li>Two <keyword id="6371692" type="General" weightage="20" keywordseo="partners" source="Orion">partners</keyword> can open a joint account as long as they have the necessary documentation in place. </li><li>The absence of legal recognition for same-sex marriages in the country renders joint applications for LGBTQ <keyword id="6372479" type="General" weightage="20" keywordseo="couples" source="Orion">couples</keyword> impossible. </li><li>The separation and death of the partner will not confer any special rights on any of the partners.</li></ul>In a recent verdict, the Supreme Court refused to give <a href="https://www.businessinsider.in/india/news/same-sex-marriage-verdict-cji-says-parliament-needs-to-effect-changes-in-law/articleshow/104488235.cms">legal recognition to same sex marriages</a> and asked the Parliament to look into the Special <keyword id="6355896" type="General" weightage="20" keywordseo="marriage" source="Orion">Marriage</keyword> Act regarding this. However, the apex court did instruct the Union, state and UT governments to ensure that the community is not discriminated against. This brings up the question about the financial rights of LGBTQ couples. <br /><br />As these couples grapple with legal and societal hurdles, comprehending and securing their financial rights has become a priority. We take a look into the legal and financial aspects of LGBTQ couples. <br /><br /><cmsannotation type="cmsannotation" annotationid="Opening a joint bank account" comment="Subhead" text="Opening a joint bank account"><span data-til="noop">Opening a joint bank account</span></cmsannotation><br /><br />There is no bar for opening joint accounts. “Any two individuals can open a joint account together, regardless of their relationship status. Most banks will also allow you to open FDs jointly,” says Adhil Shetty, CEO, BankBazaar, a financial marketplace. <br /><br />Hence, two partners can open a joint account as long as they have the necessary documentation in place, as RBI does not discriminate in terms of gender when it comes to opening and operating accounts. <br /><br /><cmsannotation type="cmsannotation" annotationid="Joint home and car loans" comment="Subhead" text="Joint home and car loans"><span data-til="noop">Joint home and car loans</span></cmsannotation><br /><br />You cannot apply for a <keyword id="6354730" type="General" weightage="20" keywordseo="home-loan" source="Orion">home loan</keyword> jointly. “If one wants to apply for a home loan jointly, one of the mandatory requirements is proof of relationship – which is to be provided irrespective of the joint applicant being a partner, a parent, a child, or siblings. In the case of a couple, a marriage certificate is required,” says Anny Ghosh, Senior Consultant, Alpha Capital, a wealth management firm. <br /><br />Basically, the absence of legal recognition for same-sex marriages in the country renders joint applications for LGBTQ couples impossible. <br /><br />“Many banks and financial institutions are working on putting policies in place, but the progress is slow in the absence of clear directives from the regulatory and legal bodies,” says Shetty. <br /><br />Not just for home loans, this is applicable to any loan to be taken jointly. <br /><br /><cmsannotation type="cmsannotation" annotationid="Financial implications of adopting children" comment="Subhead" text="Financial implications of adopting children"><span data-til="noop">Financial implications of adopting children</span></cmsannotation><br /><br />The law does not prohibit adoption based on sexual orientation. “However, LGBTQ members will be able to adopt as a couple if same-sex union gets legalised in India as live-in couples are not yet permitted to adopt a child in the country, " says Ghosh. <br /><br />Therefore, any child adopted by them will be the child of either of them who is recognised as the adopting parent. <br /><br />“This effectively means that for the purposes of inheritance and succession, the child will be recognized as the child of only one of them. The other partner will have to perforce confer the benefits of inheritance on the child through will,” says Mani Gupta, partner, Sarthak Advocates &amp; Solicitor, a full service law firm. <br /><br /><cmsannotation type="cmsannotation" annotationid="Financial implications of separation and death" comment="Subhead" text="Financial implications of separation and death"><span data-til="noop">Financial implications of separation and death</span></cmsannotation><br /><br />The separation and death of the partner will not confer any special rights on any of the partners. “This means that the surviving partner in case of death will not get any inheritance benefits unless such benefit has been conferred through will,” says Gupta. <br /><br />Upon separation, none of the partners will be entitled to maintenance or alimony from the other. Retirement and pensionary benefits of one will not flow to the other partner.<br /><br /><cmsannotation type="cmsannotation" annotationid="Inheritance and property rights" comment="Subhead" text="Inheritance and property rights"><span data-til="noop">Inheritance and property rights</span></cmsannotation><br /><br />The judgement effectively maintains the status quo on the inheritance and property rights. “This means that LGBTQ couples would not be able to claim to be spouses of each other, and therefore, would normally not be able to claim benefits of intestate succession (i.e. on account of death without a will),” says Gupta. <br /><br />The couple may, however, confer the benefits of inheritance by inheritance through a will.<br />

Same sex marriages are still not legal – A look at the financial rights of LGBTQ couples

<img class="gwt-Image" src="/photo/50357095.cms" style="width: 800px; height: 600px;" />Exiting a year where startups spread wings across various sectors ranging from e-commerce, hospitality to technology, the next year may see unexplored social impact sectors like healthcare and <keyword id="6355445" type="COMPANY" weightage="20" keywordseo="Education">education</keyword> become the preferred choice for budding entrepreneurs. Moreover, investors feel, much of the groundwork has been laid in 2015 for 2016 to become a watershed year for the emergence of a really strong <keyword id="138263" type="UNKNOWN" weightage="20" keywordseo="startup">startup</keyword> ecosystem in India.<br />
<br />
“We will have not only fresh entrepreneurs, but new innovation propositions in sectors like healthcare. Fintech startups is going to be very much part of the flavour. I also feel Agritech will start opening up which will bring valuable and high money into sectors that are extremely critical for India’s economy growth and development,” says Padmaja Ruparel, founder of Indian Angel Network.<br />
<br /> Echoing her opinion, Saurabh Srivastava, co-founder at IAN and Nasscomm, says: “I see a lot of entrepreneurs creating solutions for what you would call the bottom half of the pyramid. In India, such ideas can also be economically very scalable because of the high poverty levels and the underlying opportunity there. Although we see <keyword id="107737" type="ORGANIZATION" weightage="20" keywordseo="Entrepreneurship">entrepreneurship</keyword> in many sectors, I think we will see lots happening in the social impact arena, medical devices that government has its focus on etc.”<br />
<br /> Also, as the member of <keyword id="35210" type="ORGANIZATION" weightage="20" keywordseo="sebi">SEBI</keyword> panel on startups and Indian Aspiration Fund, Saurabh tells us the keen interest with which government bodies are working for creating a favorable ecosystem for Indian entrepreneurs. “A big focus area in SEBI committee is on how do we accelerate the flow of capital to startups, how more domestic capital should flow into startups. SEBI, Niti Aayog and several other wings are working on such areas and there is an amazing degree of openness and wish to support,” he says.<br />
<br />
Meanwhile, it seems the angel investor community is also expanding in India along with the rise of startup culture. Padmaja says: “Investment is like marriage for angel investors. They invest but what they look for is a divorce and hefty alimony. I think this cycle has started happening at Indian Angel Network (IAN), where people are getting cash exits and returns. I look at this as maturing of the angel ecosystem and I only see this growing in the coming year.”<br />
<br />
“Moreover, entrepreneurs today are also looking for fundings. The moment they get it, they will startup. It’s a symbiotic relationship between the two,” she adds.<br />


It's no more Tech! Here's what will be the preferred choice for startups in 2016

<p><span style="line-height: 1.5em;"><div class="KonaFilter image-container display-table"><div><div class="image"><img src="https://static-ssl.businessinsider.com/image/543546f96da811b741c2b352-1200-900/money laundering cover_03.png" border="0" alt="Money Laundering Cover_03"><p class="source"><span>Mike Nudelman/Business Insider</span></p></img></div><p></p></div></div>Let's say you have a little spare cash - a couple hundred grand, maybe a million - burning a hole in your pocket. Maybe you've come upon it through questionable means. Or maybe you would prefer to keep it out of the grubby hands of various tax authorities. Or you don't want your spouse to know about it. Or your kids.</span></p>
<p dir="ltr">Fear not. With a little financial detergent, your dirty money can be rendered more or less untraceable.</p>
<p dir="ltr">It must be said that the flow of illicit capital is distorting the global economy, draining wealth from emerging nations and inflating the cost of assets in the developed world. Neither of which seems to deter people from doing it every day.</p>
<p dir="ltr">China leads the world in this ancient art. Between 2002 and 2011, some $1.08 trillion departed the country illegally, despite currency-control laws that require people to obtain a permit to exchange more than $50,000 a year worth of yuan into any foreign currency.</p>
<p dir="ltr">But this is a truly <a href="http://www.gfintegrity.org/report/2013-global-report-illicit-financial-flows-from-developing-countries-2002-2011/">international pastime</a>. During that same period, some $880.96 billion was spirited out of Russia, $461.86 billion left Mexico, $370.38 billion left Malaysia, $343.93 billion left India, $266.43 billion left Saudi Arabia, and $192.69 billion left Brazil. The total outflow, among 20 emerging economies, was $5.9 trillion, equivalent to $49 billion a month.</p>
<p dir="ltr">From corrupt politicians and drug cartels to tax cheats and alimony deadbeats, more or less everybody's doing it.</p>
<p><span style="line-height: 1.5em;">Americans wishing to spirit their cash offshore are increasingly finding their efforts thwarted by Washington's 2010 Foreign Account Tax Compliance Act, which requires foreign banks to turn over information about accounts held by US citizens. But plenty of avenues remain for the dedicated money launderer - particularly if he or she is willing to violate the law.</span></p>
<p dir="ltr">Here are the basics:</p>
<p dir="ltr"><div class="KonaFilter image-container display-table"><div><div class="image"><img src="https://static-ssl.businessinsider.com/image/5435480b6bb3f7e13306f093-1200-300/casino_new.png" border="0" alt="casino_new"><p class="source"><span>Mike Nudelman/Business Insider</span></p></img></div><p></p></div></div></p>
<h2 dir="ltr">LESSON 1: THE PEOPLE'S REPUBLIC OF OFFSHORE</h2>
<p dir="ltr">Macau and Hong Kong are considered Special Administrative Regions of the People's Republic of China, and part of what makes them special is that they are great places to launder cash. Macau is the casino capital of the world, with seven times more gaming revenue than Las Vegas, and Hong Kong is home to plenty of compliant banks and other intermediaries willing to transfer funds anywhere in the world without asking too many questions, for a fee.</p>
<h3>First, Find Yourself A Junket</h3>
<p dir="ltr">Let's say you live or work in China and want to hide a massive bribe. First, you must convert it from yuan into another currency without the government knowing. The easiest way to do this is to contact a junket, an agent in mainland China who will give you casino chips for your cash, minus fees of up to 20%.</p>
<h3 dir="ltr">Hit The Casino</h3>
<p dir="ltr">Take the chips to a friendly, cooperative casino, where you can gamble with them, cash them in for Hong Kong or US dollars to then spend as you see fit, or deposit in a Hong Kong bank branch. Or, for extra safety, take them to a lawyer specializing in offshore laundering. Meanwhile, the casino will mix your chips with those from legitimate gamblers, and its accountants will book your $1 million as paid-out winnings.</p>
<h3 dir="ltr">A Whirlwind Tour</h3>
<p dir="ltr">Your bank or lawyer must wire-transfer the funds in such a way that the money crosses multiple borders, to frustrate detection or confiscation. For instance, the money might end up in a US trust managed by a shell company in Grand Cayman, owned by another trust in Guernsey with an account in Luxembourg managed by a Swiss or Singaporean or Caribbean banker who doesn't know who the owner is.</p>
<p dir="ltr"><div class="KonaFilter image-container display-table"><div><div class="image"><img src="https://static-ssl.businessinsider.com/image/5435477eeab8eac91406f08c-1200-300/smurf_new_03.png" border="0" alt="smurf_new_03"><p class="source"><span>Mike Nudelman/Business Insider</span></p></img></div><p></p></div></div></p>
<h2 dir="ltr">LESSON 2: LITTLE BLUE MEN</h2>
<p dir="ltr">You remember the Smurfs, those adorable little blue creatures? In financial circles, "smurfs" aren't so innocent. They're everyday folks who help the big guys launder their cash by making tons of tiny bank deposits and transfers in order to move money without detection.</p>
<h3 dir="ltr">Find Yourself A Smurf</h3>
<p dir="ltr">After arranging a smurf deal by phone or email, you'll be asked to have the cash couriered to a smurf's residence (probably not a mushroom in the forest, but you never know). The smurf will then deposit small amounts of your cash into an account every day for weeks or months - or years - avoiding watchful eyes by keeping the numbers small.</p>
<h3 dir="ltr">Make A Withdrawal</h3>
<p dir="ltr">Along the way, you can ask your smurf to withdraw some cash - which has since been rendered untraceable - for a shopping spree. But don't go crazy. Better to have a bank wire-transfer the money to your offshore accomplices or your shell companies.</p>
<h3 dir="ltr">Beware Of Cocky Smurfs</h3>
<p dir="ltr">Smurfs are supposed to stay under the radar. That's what makes them smurfs. But the rise of internet banking had made smurfing even more lucrative, and some top practitioners became so big they began to draw attention. For years, Hong Kong's most prolific money launderer was a teenager named <a href="http://www.reuters.com/article/2013/04/07/us-hongkong-laundering-idUSBRE9360CH20130407">Luo Juncheng</a>, who originally opened a Bank of China account with a $500 deposit. During the next eight months, he made nearly 5,000 deposits, and more than 3,500 withdrawals electronically, moving $1.67 billion offshore before attracting notice. He was sentenced to 10 years in prison in 2013 - bad news for the smurf, and his clients.</p>
<p dir="ltr">Other smurfs come to attention of authorities through their flamboyant lifestyles. In March, another Hong Kong resident, <a href="http://www.bbc.com/news/uk-england-birmingham-26479124">Carson Yeung</a>, was sentenced to six years for laundering $91.27 million through his bank accounts between 2001 and 2007. A former hairdresser who'd since bought the UK's Birmingham City football team, he claimed he had accumulated hundreds of millions of dollars in profits from stock trades, a hair salon, and gambling.</p>
<p><div class="KonaFilter image-container display-table"><div><div class="image"><img src="https://static-ssl.businessinsider.com/image/54354748ecad04e76406f094-1200-300/corporate_new.png" border="0" alt="corporate_new" style="font-size: 1.5em;"><p class="source"><span>Mike Nudelman/Business Insider</span></p></img></div><p></p></div></div></p>
<h2 dir="ltr">LESSON 3: GOING CORPORATE</h2>
<p dir="ltr">The real big shots don't bother with casinos, crooked bank managers, junkets, or smurfs. They manage to transfer millions, or billions, without handling cash or involving banks at all, instead funneling their money through corporate deals (bribes, kickbacks, and embezzlement schemes), which are exempt from currency controls.</p>
<h3 dir="ltr">How To Over-Invoice</h3>
<p dir="ltr">Let's say you're a government official or corporate executive, and you want to receive a $1 million bribe or kickback for giving a lucrative and excessively priced contract to a foreign or local business. You approve the contract, and its payment, and pad the consideration by a few million, which includes $1 million for yourself.</p>
<p dir="ltr">The client puts your $1 million overpayment into a shell company in an offshore jurisdiction, where your ownership can remain anonymous. You are then free to invest or spend the money. The business writes it off as an expense, paid out to an offshore consultant.</p>
<p dir="ltr">Or perhaps you'd prefer that your $1 million be used to buy an asset offshore for you, or that it be paid out gradually in salaries or fees to family members. Either way, you're good to go.</p>
<h3 dir="ltr">How To Under-Invoice</h3>
<p dir="ltr">It's the same thing in reverse. Simply sell your goods or services to a business at a price that is less than the goods or services are worth. Then, out of the embezzled funds, you get $1 million directly from the company that got the bargain. These funds can be placed directly into anonymous offshore account or into an asset of your choice.</p>
<p><div class="KonaFilter image-container display-table"><div><div class="image"><img src="https://static-ssl.businessinsider.com/image/543547b5eab8eaf01106f090-1200-300/diamonds_new.png" border="0" alt="diamonds_new"><p class="source"><span>Mike Nudelman/Business Insider</span></p></img></div><p></p></div></div></p>
<h2 dir="ltr">LESSON 4: SAY IT WITH DIAMONDS</h2>
<p dir="ltr"><span style="line-height: 1.5em;">They are a girl's best friend and a government regulator's worst nightmare.</span></p>
<h3 dir="ltr">Tartar Control</h3>
<p dir="ltr">Let's say you want to bring $1 million into the US without detection by tax authorities. One UBS whistleblower <a href="http://www.nytimes.com/2008/06/20/business/20tax.html?_r=0">testified</a> that clients were urged to buy diamonds for cash, then smuggle them overseas in toothpaste tubes to fool authorities. The gems can then be sold for cash, to private dealers, once you rinse off the Colgate.</p>
<h3 dir="ltr">Stamps And Plastic</h3>
<p dir="ltr">Another technique is to transfer your funds to anonymous debit cards. And if you want to go old-school, collectible stamps still have their fans.</p>
<p dir="ltr">In May, Credit Suisse <a href="http://www.businessinsider.com/credit-suisse-criminally-charged-in-tax-case-2014-5">admitted</a> guilt to such activities and others - such as shredding documents and keeping transactions below the US $10,000 reportable limit - to help American clients avoid taxes, paying a fine of $2.6 billion. But nobody really thinks they're the only ones.</p>
<p dir="ltr"><div class="KonaFilter image-container display-table"><div><div class="image"><img src="https://static-ssl.businessinsider.com/image/543547d3ecad04e36406f08c-1200-300/yacht_new.png" border="0" alt="yacht_new"><p class="source"><span>Mike Nudelman/Business Insider</span></p></img></div><p></p></div></div></p>
<h2 dir="ltr">LESSON 5: TROUBLE AHEAD?</h2>
<p><span style="line-height: 1.5em;">The would-be launderer should take note: Crime still pays, but the costs are on the rise. A gigantic crackdown in the West, and a similar one against corruption in China, will abate illicit money flows in the long run. In the short term, however, both crusades appear to have escalated the exodus of cash.</span></p>
<p dir="ltr">According to the <a href="http://www.reuters.com/article/2014/01/28/us-tax-havens-idUSBREA0R1KF20140128">UN</a>, the largest recipient of FDI (Foreign Direct Investment) in 2013 was the British Virgin Islands, an archipelago with 23,000 residents. About $92 billion in foreign cash washed up there, more than India and Brazil combined. Other havens receiving massive "investments" included the Cayman Islands, Liechtenstein, Monaco, Andorra, and Vanuatu.</p>
<p dir="ltr">But the money doesn't necessarily stay there. In 2014, the Chinese overtook the Russians as the largest buyers of New York City condos. Other laundered money is used to purchase London mansions, yachts, securities, art, and luxury estates around the world.</p>
<p dir="ltr">These funds also dominate stock and bond markets. By 2012, tax havens <a href="http://www.gfintegrity.org/tax-havens-are-the-biggest-foreign-investor-in-the-united-states-not-china/">held</a> about 29% of the total foreign investment (corporate, bonds, stocks) in the US. By comparison, China held only 7% of assets.</p>
<p dir="ltr">But the hard reality for launderers is that "good" banks are harder to find every day, and so are jurisdictions providing complete anonymity. As a result, some very big fish are starting to get caught in the dragnet. One <a href="http://www.insidespanishfootball.com/118278/judge-insists-lionel-messi-must-face-tax-fraud-charges/">high-profile case</a> in is now underway in Spain, where the world's greatest soccer superstar, Lionel Messi, and his father stand accused of laundering $5.56 million (4.2 million euros) worth of sponsorship dollars. They deny all allegations.</p>
<p dir="ltr">Meanwhile, the third Smurfs movie - said to be a thorough reboot - is being prepared for a <a href="http://www.hollywoodreporter.com/news/sony-shifts-goosebumps-smurfs-movie-700571">2016 release</a> after the first two films grossed a total of nearly $1 billion worldwide. It sounds like a fine investment opportunity.</p>
<p><em><a href="Mr.%20Eddie%20White,%20334-293-2260">Diane Francis</a> is editor at large with The National Post and a professor at Ryerson University's Ted Rogers School of Management.</em></p>

You Searched For "alimony in india" and got 8 results

A Karnataka woman is being ridiculed for demanding an alimony of Rs 6 lakh monthly from her ex. Is this fair?

BI India Bureau

High profile divorces are stories of claims and counterclaims best settled outside court

Anagh Pal