Contract of Pledge: A Banking-Focused explainer
A contract of pledge is the bailment of movable goods as security for payment of a debt or performance of a promise; the pledgor (pawnor) delivers possession while ownership remains, and the pledgee (pawnee) gains a limited, security interest with rights on default. This structure underpins core banking products like gold loans, pledge of warehouse…
Read article Contracts of Bailment: A Practical Guide for Banking
A contract of bailment is the delivery of movable goods from one person to another for a specific purpose, with an obligation to return or dispose of them as directed after the purpose is fulfilled. In bailment, possession transfers, but ownership remains with the bailor. Meaning Essential features Bailor’s disclosure Bailee’s care of goods Mixing…
Read article Contracts of Guarantee in Banking: A Complete Guide
Contracts of guarantee play a significant role in banking and financial services, providing lenders an additional layer of security and assurance. This legal arrangement involves multiple parties and specific principles that safeguard both the creditor and the surety. For professionals in the banking sector and individuals dealing with credit facilities, understanding the nuances of a…
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Tax Laws in India: Quick, Practical Overview
India’s tax framework covers direct taxes like Income Tax, transaction levies like Commodity Transaction Tax (CTT), and indirect taxes under Goods and Services Tax (GST), each with distinct bases, timelines, and compliance rules for taxpayers and businesses. Income Tax Key updates FY 2025–26 Corporate tax snapshot Commodity Transaction Tax (CTT) CTT compliance and impact Goods…
Read article The Law of Limitation: A Practitioner’s Overview
The Law of Limitation, primarily governed by the Limitation Act, 1963, prescribes time limits for filing suits, appeals, and applications, and lays down detailed rules for computing these periods to balance finality with fairness. Core definitions Limitation and its computation Computation of the period Acts giving rise to a fresh period Special interruption or start…
The Consumer Protection Act, 2019: A Practical Guide
The Consumer Protection Act, 2019 overhauls India’s consumer law by defining key rights, policing unfair practices and contracts, empowering a new regulator (CCPA), and streamlining redressal through three-tier commissions, time-bound procedures, and mediation cells; awards are enforceable, and limitation rules apply to ensure speed and finality. Definitions Unfair contract and UTP Consumer protection councils Central…
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