The Hindu Succession (Amendment) Act, 2005 A Misnomer Though the Act is Hindu Succession Amendment Act, it appears to be a misnomer as there is nothing new qua daughters’ rights of succession. Equal rights by way of succession were already given to daughters as that of sons by Section 8 of Hindu Succession Act, 1956 […]
Right to Bail – How Is Bail Determined Although there is a right to bail to every accused, the term bail is not defined under CrPC. In this article I shall endeavor to analyze various provisions pertaining to Right to Bail and how is bail determined under the provisions of CrPC. To begin with, bail […]
Appeals before the High Court: The High Court has appellate jurisdiction over both civil and criminal cases. There is a hierarchy of Civil and Criminal Courts in every state subordinate to their respective High Courts to administer civil and criminal law disputes. It can hear appeal on civil cases tried by the Courts of Munsifs […]
What is writ petition before the Gujarat High Court As per the Indian Constitution, under Article 226, High Courts can adjudicate on the aspects of Legal as well as Fundamental Rights, whereas Supreme Court can adjudicate on Fundamental Rights, under Article 32. In the context of State of Gujarat, a writ is an order by […]
DEBT RECOVERY – LEGAL FRAMEWORK IN INDIA Indian Legal system encompasses varied legal provisions for recovery of debts by the Banks and Financial Institutions as follows :- Summary suits under Order XXXVII of the Code of Civil Procedure, 1908. Ordinary suits for recovery, under Civil Law. Original Applications to be filed by Banks and Financial […]
How banks misuse SARFAESI Act provisions for loan recovery The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act 2002 is a powerful instrument in the hands of the banks and financial institutions (FIs) as secured creditors. This Act helps them enforce securities held as collateral to loans disbursed by them […]
The financial sector has been one of the key handlers in India’s efforts to achieve success in rapidly developing its economy. Since our existing legal framework relating to commercial transactions has not kept pace with the changing commercial practices and financial sector reforms. This ensures the slow pace of recovery of defaulting loans and escalating […]
A cheque is a widely used method of payment and post-dated cheques are frequently used in various transactions in business life. Post-dated cheques are given to provide a certain accommodation to the drawer of the cheque. Therefore, it becomes necessary to ensure that the drawer of the cheque does not abuse the accommodation given to […]
CHECKLIST FOR ACTION UNDER SARFAESI ACT Authorized Officer who is given the statutory power has to exercise higher degree of caution and care in following the prescription law while taking action under the Act. Taking action in any other manner than the prescription is not permissible in law. This cardinal principle is covered by […]
In this article we will discuss wrong with Yes Bank? We know the ongoing troubles with Yes Bank but in this article we aim to discuss the reasons behind what went wrong with Yes Bank. Yes Bank’s problems started two years ago, when the regulator forced it to disclose that nonperforming loans were $630 million […]
