[Sikha Bansal is a Partner at Vinod Kothari & Company] A regulatory framework for asset reconstruction companies (ARCs) was introduced in India through the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). This intended to put in place a system for clearing up non-performing assets (NPAs) from the
... Continue Reading.Month: September 2020
CPC Mains Questions Series Part IV: Important Questions for Judiciary, APO & University Exams | Part – IV of X
Legal Bites brings to you CPC Mains Questions Series Part IV. The questions enlisted here are arranged section-wise and will aid the students preparing for Judiciary, APO or University Exams. The list question curated by Legal Bites will help candidates identify the important and frequently asked questions and give them a good practise for their
... Continue Reading.Offences against Public Justice
Chapter XI deals with the offence against Public Justice. Section 201-229A explains in detail the offences that come under the ambit of public justice. Section 201 deals with the causing the disappearance of Evidence. This can be broadly divided into causing disappearance and false information. The essential ingredients of this section are There must be
... Continue Reading.Banking structure in India
Banking system in India has progressed tremendously in the past few decades. It has recently seen new heights and moved swiftly passed the traditional notions of banking in the world. Banking according to a layman implies the borrowing and lending of money. But it is far more complex and comprehensive. In fact, banking has been
... Continue Reading.Brief History of Gambling Laws in India
India has one of the most complicated histories revolving around gaming and gambling. Even archaeologists have found dice made from sandstone and terracotta that date back to 3300 BC, and there is strong evidence that Indus Valley citizens participated in cockfighting and betting. Diwali, an Indian religious festival, has religious connotations tied to gambling. However,
... Continue Reading.Lathi Linked To Village’s Identity, Not A Weapon Of Assault Simpliciter: SC
In a fresh, favourable and fine ruling titled Jugut Ram vs. The State of Chhattisgarh in Criminal Appeal No. 616 of 2020 (Arising out of SLP(Crl.) No. 7416 of 2018) in exercise of its criminal appellate jurisdiction delivered by a three Judge Bench of the Apex Court on September 16,
... Continue Reading.Offences related to coins & currency
Coins have been in circulations since times immemorial and are the most used form of currency. The Indian coin is defined in section 230 as the metal stamped and issued by the Government of India in order to be used as money. Chapter XII of the Indian Penal Code deals with offences relating to coins
... Continue Reading.SC: ‘Ten Times Penalty’ Prescribed For Deficit Stamp Duty Cannot Be Mechanically Imposed
The SC has observed that the penalty of ten times prescribed under section 40(1) (b) of the Indian Stamp Act cannot be mechanically imposed. A bench comprising of Justices Ashok Bhushan MR Shah and R. Subhash Reddy observed that the reason such as fraud or deceit in order to deprive the undue enrichment are relevant
... Continue Reading.BMC’s Action At Kangana Ranaut’s Residence In Bandra Prima Facie Does Not Appear To Be Bona Fide And Smacks Of Mala Fides: Bombay HC
In a well-worded, well-analysed, well-justified and well-reasoned judgment titled Kangana Ranaut vs Municipal Corporation of Gr. Mumbai & Ors in Writ Petition (L) No. 3011 of 2020, a two Judge Division Bench of the Bombay High Court comprising of Justice SJ Kathawalla and Justice RI Chagla remarkably and rightly while restraining the Municipal Corporation
... Continue Reading.Offences by or relating to Public Servants
Chapter XI deals with offences related to public servants. Public Servants in a democracy play a very important role in administration; they are responsible for the implementation of all the plans and policies of the Government. Section 161 to 165A have been repealed but the Criminal Law Amendment Act, 2013 and it has also inserted
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