Strengthing of Laws Against Wilful Defaulters
WHO ARE WILFUL DEFAULTERS? The general meaning of the word ‘default’ is a failure to repay loans availed by a borrower from a bank and/or financial institution(s). Wilful defaulters are entities (legal/natural) which have not repaid the loan amount despite its financial ability to repay it. The Reserve Bank of India (“RBI”) has defined the […]
The National Education Policy, 2019
The Committee under the chairmanship of Dr.. Kasturirangan submitted its Draft National Education Policy on March 31, 2019. This Committee was constituted by the Ministry of Human Resource Development in June, 2017. Vision: The National Education Policy, 2019 envisions an “India centred” education system that contributes directly to transforming our nation sustainably into an equitable […]
Non Delivery of Notice Under Section 138 NI Act leads to No Proceedings Against the Accused
A single Bench comprised of Justice Sanjeev Sachdev of the Hon’ble Delhi High Court in the matter of RL Varma and Sons v P C Sharma[1] dismissed the complaint under Section 138 of the NI Act, 1881 (“NI Act”) on the ground that the demand notice was not delivered to the accused, as the address […]
Jurisdiction of Chief Judicial Magistrate to Entertain Application Under Section 14 of The SARFAESI Act
The Hon’ble Kerala High Court at Ernakulam, in its recent judgment dated 27-06-2019 in K.O.Anto and Anr. v. State of Kerala and Anr.[1] held that a Chief Judicial Magistrate has jurisdiction to entertain an application under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.[2] FACTS: The […]
SC Declines to Apply ‘Group of Companies’ Doctrine to Implead Foreign Company in Arbitration with its Indian Affiliate
The Bench comprising of Justice A. M. Khanwilkar and Justice Ajay Rastogi of Hon’ble Supreme Court of India in the Judgement dated 1st July 2019 in the matter of Reckitt Benckiser (India) Private Limited versus Reynders Label Printing India Private Limited and Anr[1], refused to invoke the ‘group of companies’ doctrine to implead a foreign […]
Pecuniary Jurisdiction of Consumer Forum Shall Include Consideration Plus Compensation and Interest – NCDRC
National Consumer Dispute Redressal Forum in the case Ambrish Kumar Shukla and ors. Vs. Ferrous Infrastructure Pvt. Ltd., Consumer Case No.97 of 2016, decided on 07.10.2016 has elaborately elucidated the pecuniary jurisdiction of the consumer forum wherein the Single Bench referred issues raised by it to the Larger Bench of National Consumer Disputes Redressal Commission […]