Non-Banking Financial Companies (NBFCs) and Chit funds in India

India has financial institutions which are not banks but which accept deposits and extend credit like banks. These are called Non-Banking Financial Companies (NBFCs) in India. At end-March 2017, there were 11,522 NBFCs registered with the Reserve Bank, of which 178 were NBFCs-D and 220 were NBFCs-ND-SI. The share of NBFCs in terms of assets… Read More Non-Banking Financial Companies (NBFCs) and Chit funds in India

India does not have structured sentencing guidelines : Supreme Court Observed

Currently, India does not have structured sentencing guidelines that have been issued either by the legislature or the judiciary. There cannot, therefore, be any uniformity. However, this Court has repeatedly held that the Courts will have to take into account certain principles while exercising their discretion in sentencing, such as proportionality, deterrence and rehabilitation. In a… Read More India does not have structured sentencing guidelines : Supreme Court Observed

Post Payments Bank has been incorporated as a Public Limited Company by Government of India

The payments bank will be registered as a public limited company under the Companies Act, 2013, and licensed under Section 22 of the Banking Regulation Act, 1949, with specific licensing conditions restricting its activities mainly to acceptance of demand deposits and provision of payments and remittance services. It will be governed by the provisions of the Banking Regulation Act, 1949; Reserve Bank of India Act, 1934; Foreign Exchange Management Act, 1999; Payment and Settlement Systems Act, 2007; Deposit Insurance and Credit Guarantee Corporation Act, 1961; other relevant Statutes and Directives, Prudential Regulations and other Guidelines/Instructions issued by RBI and other regulators from time to time. … Read More Post Payments Bank has been incorporated as a Public Limited Company by Government of India

In case of Mob Lynching register FIR under Section 153A of IPC

Fake news and false stories are responsible  for Mob Violence Lynching and mob violence are creeping threats that may gradually take the shape of a Typhon-like monster as evidenced in the wake of the rising wave of incidents of recurring patterns in India by frenzied mobs across the country instigated by intolerance and misinformed by… Read More In case of Mob Lynching register FIR under Section 153A of IPC

Pakistan Supreme Court’s order in Panama Papers case[28.07.2017]

KEYWORDS:- CORRUPTION- SUPREME COURT OF PAKISTAN Imran Khan v. Mian Muhammad Nawaz Sharif ALTERNATIVE CITATION : PLD 2017 SC 265; PLD 2017 SC 692 IN THE SUPREME COURT OF PAKISTAN (Original Jurisdiction) Constitution Petition No. 29 of 2016 PRESENT: Mr. Justice Asif Saeed Khan KhosaMr. Justice Ejaz Afzal Khan Mr. Justice Gulzar Ahmed Mr. Justice Sh. Azmat… Read More Pakistan Supreme Court’s order in Panama Papers case[28.07.2017]

PRACTICE IN THE TRIAL OF CIVIL SUITS IN INDIA

KEYWORDS:- PRACTICE- CIVIL SUIT- PRACTICE IN THE TRIAL OF CIVIL SUITS:- Court hours, holidays, and cause lists ETC Reception of plaints and applications. Examination of the plaint Service of Processes Written Statements Settlement of Issues Documentary Evidence Hearing of suits, adjournments, Examination of Witnesses etc Dismissals in Default and Ex-Parte proceedings Speedy Disposal of cases… Read More PRACTICE IN THE TRIAL OF CIVIL SUITS IN INDIA

Category of cases where the trial is required to be fast tracked.

State of Karnataka v. Shivanna, (2014) 8 SCC 913 Directions issued bySupreme Court in form of mandamus to all police stations’ “2. While we propose to consider this matter on merits after service of notice to the respondent-accused, we feel acutely concerned as to why the Union of India should not take initiative and steps… Read More Category of cases where the trial is required to be fast tracked.

Madan Mohan Vs. State of Rajasthan & Ors.[SC 2017 December]

KEYWORDS:-  DE FACTO COMPLAINANT -SESSIONS JUDGE ALLOWED APPLICATION U/S 193 Cr.P.C DATE: December 14, 2017 The De-Facto complainant  filed an application under Section 193 of the Code in the Sessions Trial complaining therein that the names of respondent Nos.2 and 3 – Ashish Meena and Vimal Meena though figured prominently in all the material documents filed… Read More Madan Mohan Vs. State of Rajasthan & Ors.[SC 2017 December]