SECTION 3,4 AND 10 of IBC (Amendment) Act, 2020 are Constitutionally Valid: SC THE SUPREME COURT recently talks about the constitutional validity of Section 3, 4, and 10 of the Insolvency and Bankruptcy Code (Amendment) Act, 2020. With this, the Supreme Court exercises Article 142 of the Constitution of India and Article137 of the
Supreme Court directs on recommendations made by NALSA that ‘pre-mediation litigation may not be feasible’ The Supreme Court on 19th January 2021 in the Suo moto case on the expeditious case of dishonor cases under section 138 of Negotiable Instrument Act 1881 to reduce the high level of pendency of cases passed the directions stated
Introduction The Central Bank of India/RBI is the driving force in the development of national payment systems. The Board for Regulation and Supervision of Payment and Settlement Systems (BPSS), a subsidiary committee of the RBI. It is the highest policy-making commission of payment systems in India. Its sole prerogative is to supervise the regulation and
Introduction This article is going to discuss some basics over the guidelines issued by the RBI on 25th September 2020 over Positive Pay System Safeguards or Cheque Truncation System. The idea of CTS involves a process for reconfirmation of the key details over large value cheques. Under this process, the one who issues the cheque
Introduction A contract is an agreement between two entities or individuals, which serves as legal protection for both parties involved in a potential business deal. The contract is an agreement enforceable by law that offers personal rights and imposes personal obligations for the protection of the rights of the parties. The basic contract law depends
What is Dishonour of cheque? Answer: When the person to whom the cheque is issued, presents the same to the bank and is returned without being credited into his account. This results in Dishonour of the cheque. What should you do, if the cheque gets dishonour? Answer:- When your cheque dishonours, you should go
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