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 in total financial sector is 8.3 per cent as on 2016-17
  • NBFCs in India include not just the finance companies that the general public is largely familiar with; the term also entails wider group of companies that are engaged in investment business, insurance, chit fund, nidhi, merchant banking, stock broking, alternative investments, etc., as their principal business. All are though not under the regulatory purview of the Reserve Bank.

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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 proportionality analysis, it is necessary to assess the seriousness of an offence in order to determine the commensurate punishment for the offender. Continue reading “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

PM Modi to launch India Post Payments Bank on August 21 2018

Incorporated as a Public Sector Bank under the Department of Posts with 100% GOI equity, IPPB has launched on January 30th, 2017 in Ranchi and Raipur with the objective of being present in all corners of India by the end of the year.  Continue reading “Post Payments Bank has been incorporated as a Public Limited Company by Government of India”

Powerful Legal Research enterprise

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 circulation of fake news and false stories. There has been … Continue reading 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 Saeed Mr. Justice Ijaz ul Ahsan Majority Ejaz Afzal Khan, joined … Continue reading 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 Incident Proceedings Special Features of certain classes of cases Alternative … Continue reading 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 to evolve a procedure for fast-track justice to be adopted … Continue reading 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 along with the charge-sheet, yet for no justifiable reasons, their … Continue reading Madan Mohan Vs. State of Rajasthan & Ors.[SC 2017 December]

The protection of judicial independence in India

“If there were no bad people there would be no good lawyers.” “Good lawyers know the law. Great lawyers know the judge” ” A judge is a lawyer” SYNOPSIS  Cicero : “We are all servants of the laws in order that we may be free.”[Omnes legum servi sumus ut liberi esse possumus] Socrates: “Four things belong to a judge: to hear courteously, to answer wisely, to  … Continue reading The protection of judicial independence in India

Interpretation of Criminal Statutes

Stare decisis is a maxim among … lawyers, that whatever has been done before may legally be done again: and therefore they take special care to record all the decisions formerly made against common justice and the general reason of mankind. — Jonathan Swift, Gulliver’s Travels. “WE DO NOT KNOW WHAT THE LEGISLATURE HAD INTENDED BUT SURELY WE KNOW THE ENACTMENT “ “To treat precedents as superior … Continue reading Interpretation of Criminal Statutes