The Government of Sikkim State in its circular No. No 70/home/2023 dated 24.11.2023 declared the following days to be a public holiday during the year 2024 under section 25 of NI Act 1881. Sr.No. Date Day Festival Occasion 1 01.01.2024 Monday New Year Day 2 15.01.2024 Monday Maghe Sankranti/Makara Sankranti 3 26.01.2024 Friday Republic Day…
Originally posted on September 8, 2017, updated on 24.11.2023 Money market mutual funds (MMMFs) are mutual funds that exclusively invest in short-term debt instruments, cash, and cash equivalents that are rated high quality. It is for this reason that money market mutual funds are considered safe investments with minimal to low risk. As these funds…
Every major Mutual Fund Organization (MFO) in India has introduced at least a dozen schemes. These schemes are initiated and offered to the public, targeting different investor groups. You have a choice of selecting a suitable scheme. Mutual Fund products can be classified based on their underlying portfolio composition such as the asset class the…
The Delhi High Court on Monday in its ruling held that the extended 10-year review period for Income (I-T) assessments should only be applied when the assessee’s alleged undisclosed income exceeds Rs 50 lakh. Responding to a bunch of writ petitions, for the financial years 2015-16 and 2016-17, the bench of Justice Rajiv Shakdher and…
The Government of National Capital Territory of Delhi has issued a notification declaring the list of holidays for all government offices in 2024. This notification was issued on 19th October, 2023. No. F. 53/627/GAD/CN/2023/2259-2305.—In exercise of the powers conferred by Section 25 of the Negotiable Instruments Act, 1881 read with the Government of India, Ministry…
What is a negative lien? Let us first understand what is a negative lien. Actually, there is no legal definition of the term ‘negative lien’ in any of the Indian legislative enactments. However, as it is understood in the normal course of business, it is merely a negative covenant which restricts a person from creating…
The Government of Gujarat state announced in its notification No.GS/27/2023/JSR/102023/930/GH dated 20.11.2023 declared the following days to be Public Holidays for the year 2022 under section 25 of NI act for banks in Gujarat. Sr.No Date Day Occasion/Festival Date 1 26.01.2024 Friday REPUBLIC DAY 2 08.03.2024 Friday MAHASHIVARATRI 3 25.03.2024 Monday HOLI 2ND DAY, DHULETI…
The Reserve Bank of India (RBI) on Friday permitted banks to open additional current account for exports proceeds in addition to special rupee vostro accounts with a view to provide greater operational flexibility to exporters.In terms of this provision and in order to provide greater operational flexibility to the exporters, AD Category-I banks maintaining Special…
Bank holidays in India are declared as public holidays under explanation to section 25 of the Negotiable Instrument Act 1881. The following holidays declared under the NI Act are applicable exclusively to the banks located within the administration area of Karnataka State. In other States and Union territories where it is not a holiday, banks…
People have doubt whether an unregistered Partnership Firm can also be brought within the purview of Section 141 of the Negotiable Instruments Act, and in such cases, whether the Partnership Firm must be made as an accused along with the other partners, in order to maintain a complaint for an offence under Section 138 of…