Understanding the Concept of Cheque Bounce in India
Cheque bounces are considered as a Criminal offence in India .In this age of Internet where Internet Banking and Mobile Banking are used for Transferring Funds , there is a large section of population that prefers cheques .Dr . Gubbi Subba Rao explains the Dishonour of Cheque and Presumption in favor of the holder mentioned under sections 138 and 139 of the Negotiable Instruments Act , 1881. He also gives an exceptional view of Section 420 of the Indian Penal Code under which the punishment for Cheating has been provided according to which the person shall be punished with imprisonment of either description for a term which may extend to 7 years, and shall also be liable to fine . This video gives us the in depth knowledge of the consequences and the remedies for the same.
P2P Lending - RBI's Stance on Peer-to-Peer Lending Platform
The release of the Master Directions on Non-Banking Financial Company – Peer to Peer Lending Platform (Reserve Bank) Directions, 2017 (“ Master Directions ”) was a decision anticipated since April 2016 when the Reserve Bank of India (“ RBI ”) issued a Consultation Paper on Peer to Peer (“ P2P ”) lending (“ Consultation Paper ”). The Consultation Paper contained various arguments against and in favour of regulating the P2P lending sector. Thereafter, on August 24, 2017, as a precursor to the ultimate regulations, the RBI issued a gazette notification classifying entities providing the ‘business of a peer to peer lending platform’ as a Non-Banking Financial Company (“ NBFC ”). The Notification assumes significance since the classification of a P2P lending platform as an NBFC brings such a platform within the RBI’s regulatory ambit. The broad points under the Consultation Paper have now been crystallised under the Master Directions released by the RBI on October 04, 2017.
Dispute Resolution through Reference to Micro and Small Enterprises (MSME) Facilitation Council
Dispute Resolution through Reference to Micro and Small Enterprises (MSME) Facilitation Council Author: Advocate Nishant Nigam and Associate Ankit Ahuja Any Micro or small enterprise having valid EM Part -II /UAM can apply to a ‘Micro and Small Enterprises Facilitation Council’ of a the state having jurisdiction to entertain the matter regarding dispute resolution where where any buyer fails to make payment of the amount to the supplier the buyer and such amount to due to be paid shall be liable to pay compound interest with monthly rests to the supplier on that amount from the appointed day from the date immediately following the date agreed upon, at three times of the bank rate.The State Government shall establish one or more Micro and Small Enterprises Facilitation Councils where such dispute resolution takes place
Alternate Market Commission - A Boost for Startup Ecosystem
Bhumesh Verma, Managing partner and Soumya Shekhar, Associate Introduction Startup eco-system carries vast potential for economic activity and revenue generation in India. It has the knack to change the dynamics of the Indian economy to a large extent. To make it happen, however is hugely dependent on proper monitoring coupled with timely measures to support the startup fraternity by providing appropriate incentives.
Facing Delayed Possession of Property?
The Supreme Court of India is proving to be a great help for all the stressed buyers who invested their hard earned money into buying a property but were facing delays in possession of their property. We have been helping home buyers approach the NCDRC (National Consumer Disputes Redressal Commission) in the right way and get their money back. Lawyered acting as an Amicus Curiae or ‘Friend of the court’ is connected with legal advisory currently representing at least 9200+ clients against 63+ builders at NCDRC in various cases.
6 Mandatory Tax And Regulatory Compliances For Business
6 Mandatory Tax And Regulatory Compliances For Business Author: Associate Runa Jasia What is Mandatory Tax?
All You Need to Know About ANGEL TAX
The longstanding request of the angel investors to exempt them from the ambit of “Angel Tax’ provision has finally turned into a reality. This was a bane particularly for the startup ecosystem growth. The Central Board of Direct Taxes (CBDT) has issued a notification dated May 24, 2018 exempting angel investors from the ‘Angel Tax’ ambit subject to the terms and conditions as specified by the Department of Industrial Policy and Procedure (DIPP).which is a boon to startup fraternity and will significantly boost the development prospects of the startup fraternity. The notification is retrospectively effective from April 11, 2018. The DIPP notification dated April 11, 2018 has exclusively quantified the following conditions to be satisfied by the startups for availing the ‘Angel Tax’ Exemption: • The worth of proposed issue of shares by the startup should not exceed INR 10 crore in aggregate the amount of paid up share capital and share premium;
Dishonor of Cheque: Section 138 of the Negotiable Instruments Act, 1881
The term ‘Negotiable’ means ‘transfer by endorsement or delivery’ and the term ‘Instrument’ means ‘any legal document in writing, which is created in favour of any person. Therefore, Negotiable Instruments are written statements implying payment of money, either on demand or within a particular time period with the drawer’s/payer’s name on it. In case of any related legal matter, please Post Your Requirement anonymously and get free proposals OR Search for a Lawyer and book a free appointment directly. History and background In India, Negotiable Instruments Act, 1881 codifies the law governing transactions involving negotiable instruments. As can be seen, this is a law passed during the British Era which continues till date to govern economical transactions.
The Benefits Of Arbitration As A Method Of Dispute Resolution.
The Benefits Of Arbitration As A Method Of Dispute Resolution. The Benefits Of Arbitration As A Method Of Dispute Resolution. Author: Advocate Nishant Nigam and Associate Shreya Negandhi Disputes are inexorable but combat is optional.
How Partnership Clarity in the Early-Stages Increases your Immunity
Author: Diksha Singh What is a 'Partnership'? A partnership is an agreement in which two or more parties are involved in the management and operation of the business. It can be of two types such as limited liability partnership and a general partnership commonly known as unlimited liability partnership in which the liability of the partners are unlimited and all the partners are held responsible for the misconduct of any one partner. Some of the partners are also known as silent partner who is not involved in the management and day to day activities of the business. Sometimes being in a partnership can cause bitter feelings which will be an obstruction in the running of business hence it is important for the partners to be unbiased and accept each other’s point of view which will help in the profit of the business.
The Draft National Digital Communications Policy, 2018
An analysis by Corp Comm Legal Bhumesh Verma, Managing partner and Soumya Shekhar, Associate Introduction The Department of Telecommunications has released the draft National Digital Communications Policy (“Digital Policy”) on 1 st May 2018, inviting public comments on the same. This new Digital Policy seeks to regulate not only the telecom sector but also devise new ways of improving digital communication across the country.
