Under Section 18 of the Registration Act, 1908, the registration of a Will is not mandatory. The Hon’ble Supreme Court, in Ishwardeo Narain Singh v. Kamta Devi, AIR 1954 SC 280, authoritatively held that the non-registration of a Will does not, by itself, cast any doubt upon its genuineness. The Court observed that the majority…
Legal Note:There is no prescribed statutory format for a Will under Indian law. A Will may be executed in any language and may be either handwritten or typed. Legal or technical language is not mandatory, provided that the document clearly conveys the unambiguous testamentary intent of the testator. A lawyer’s assistance, though advisable in complex…
The term “Will” is defined under Section 2(h) of the Indian Succession Act, 1925, as a legal declaration made in writing by a person, referred to as the Testator, whereby the testator specifies the manner in which his or her assets and properties are to be distributed upon their demise. A Will has overriding effect…
This article offers you the details of different types of life insurance policies, as well as general (non-life) policies like Property Insurance, Liability Insurance, Motor Insurance, Health Insurance, Travel Insurance Marine Insurance, cargo, etc. Insurance contracts can be broadly classified into two categories based on the nature of the insured risk viz. life insurance and…
According to the sources with direct knowledge of the matter, the Department of Financial Services (DFS) has written a letter to Chairmen and heads of the banks on August 26, asking them to consider setting up of an IT system to collate such data, The IBC code amendment 2019 allows creditor to permits file insolvency…
The Importance of Wealth Management Wealth management goes beyond traditional financial advisory services. It represents a comprehensive and strategic approach to managing an individual’s or family’s financial life. Here’s why wealth management is essential: 1. Customized Financial StrategiesWealth management provides tailored financial plans that align closely with an individual’s unique goals, risk profile, and circumstances.…
Wealth management offers a comprehensive suite of financial services designed specifically for high-net-worth individuals (HNWIs). It encompasses strategic investment management, tax optimization, estate planning, retirement preparedness, and risk mitigation. A clear understanding of these services empowers individuals to make informed financial decisions, fostering long-term wealth creation and security. Investment Management Investment management forms the cornerstone…
Definition of Private Banking Private banking refers to a suite of personalized financial services offered primarily to high-net-worth individuals (HNWIs) and their families. These services are delivered by dedicated relationship managers or private bankers, typically within divisions of large financial institutions or specialized private banks. Unlike retail banking, private banking emphasizes exclusivity, confidentiality, and a…
(This article explains the method of calculating the value of a coupon bond factors in the annual or semi-annual coupon payment and the par value of the bond.) Bond valuation is the process by which an investor estimates the theoretical fair value, or intrinsic worth, of a bond. Like any security or capital investment, a…
A Zero-Coupon Bond does not make periodic interest payments or “coupons” to the investors. Since the coupon rate of such bonds are ‘zero’ they are called as zero-coupon bond. In case of Zero-Coupon Bonds the issuer sells the bonds at a price less than the face value of the bonds and pays to the bond…
