RBI’s new circular on declaring accounts as ‘fraud’
The Reserve Bank of India lenders on Monday to give defaulting borrowers enough time to respond before they are classified as “fraud accounts. The amendment to current rules incorporates a Supreme Court judgment in March last year that a bank cannot unilaterally declare an account as fraud without providing the defaulter the right to be…
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Legal Aspects of Leasing
There is no separate law for dealing with leases of equipment. The laws governing leases are the law of contracts, or the Ii.e., the Indian Contract Act, of 1872, and the Transfer of Property Act, of 1881. The Contract Act deals with lease agreements and the Transfer of Property Act deals mainly with the lease…
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Explained: Advantages and Disadvantages of Lease Finance
The lessor is the property or asset owner who rents it out, receiving payments for its use. On the other hand, the lessee is the party paying to use the property or asset under agreed terms. In leasing an asset, the lessor has several advantages. Similarly, the lessee who takes an asset like a vehicle…
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A complete guide on different types of Leasing their Contents
The lessor is the property or asset owner who rents it out, receiving payments for its use. On the other hand, the lessee is the party paying to use the property or asset under agreed terms. There are different types of leasing namely Finance Lease; Operating Lease; Leveraged Lease; Conveyance Lease; Sale & Leaseback; Complete…
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How much money can be sent abroad for education, treatment, employment, or a business trip?
[The article gives details of how much money in cash you can bring to different countries how much foreign currency can be purchased on cash payment, the purpose for which foreign currency can be purchased, Usage of cards on foreign travel, the limit for Indian currency that can be brought into India from abroad, the…
Definition and evolution of leasing in India
Leasing is a contract that allows a company to use an asset for a set period of time in exchange for payment. “Leasing” requires a legal agreement where one party (the lessor) grants another party (the lessee) the right to use an asset for a specified period of time in exchange for regular payments; essentially,…
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