The provisions of nomination are found in various Acts like Life Insurance, Provident Fund, Gratuity, Co-operative societies and banking regulation acts. You might have made nominations for all your bank deposits, real estate assets in the co-operative housing society, Bank lockers, insurance policies, mutual funds, shares etc. Therefore, you assume that nominations made by you…
We all know that in the international trade of goods and services transactions takes place between the people belonging to different continents, languages, culture, and laws. Since the language used for communication of terms and conditions of LC may suggest different meaning in different parts of the world, people across the world realised the need…
The settlement of claims in respect of missing persons being done under the provisions of Section 107 / 108 of the Indian Evidence Act, 1872. Section 107 deals with the burden of proving whether a missing person is alive or dead and the burden of proving that he is dead is on the person who…
Latest: A few sections relating to registration of security interest by secured and other creditors, the effect of registration of transactions, right of enforcement of securities, and priority to secured creditors were not notified in the said amendment. In view of the foregoing Section 17 to Section 19 of the 2016 Act have been notified…
The Government of India introduced major changes in FDI policy on Monday, Jun 20, 2016, bringing most sectors and activities under the automatic approval route. The changes introduced now simplifies the regulations governing foreign investments, and increase sectoral caps with a small negative list. These amendments are the second sweeping changes in FDI policy after…
(The importance of FDI is explained in this article in questions and answers format. The questions are like What way FDI is useful to domestic economy?, Why overseas entities invest in other countries?, Why India attracts FDI?, Why shop-keepers, businessmen and some political parties in India oppose FDI?, Is there any restriction for FDI?, What…
(This post narrates the background of introducing the ‘bankruptcy law’ and in what way the new law is likely flags the problem loans and protects the interest of lenders.) The ‘Insolvency and Bankruptcy Code, 2016’ bill will be shortly enacted as an ‘ACT’ which will be dealing with resolutions of insolvency and bankruptcy. The fundamental…
A revenue Stamp can be explained as a receipt given by the Government in the form of small adhesive stamp in lieu of separate document stating that the tax/fee has been paid to the Government. The receipt for above certain amount shall be mandatorily acknowledged by the receiver affixing and cancelling the revenue stamp. Under…
Repo rate is the rate at which the RBI lends shotterm money to the banks against the security of all SLR-eligible transferable Government of India- dated Securities, Treasury Bills and State Development Loans (SDL). The repo auction framework is a new regime for liquidity management to keep overnight rates close to the repo rate. Under…
Udyog Aadhaar registration is the new system that replaced the earlier system of SSI registration and EM-I/II. The gazette notification dated 18.09.2015 brought an end to the legacy of registration of SSI and Entrepreneur Memorandum (EM-I/II) as all other online/ offline systems of registration of MSMEs created and maintained by Central/State/UT Governments cease to register…