Tag Archives: debt

Measures to curb ‘Inversions’ announced: US Treasury

United States Department of Treasury and Internal Revenue Service has announced measures to curb ‘Inversions’ by US corporations. https://goo.gl/hsGD0P

Posted in Banking Law, Company Law, Contract Law, FDI, General Law, Income Tax Law, International Law, Notifications/Publications/Circulars, Securities Law | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

SEBI can’t arrest without following due procedure: BHC

Expounding upon the powers of arrest and detention of a recovery officer of Securities & Exchange Board of India (SEBI), the High Court of Bombay ruled that a tax recovery  officer cannot arrest or detain a person without reasons to … Continue reading

Posted in Banking Law, Company Law, Constitution Law, Contract Law, Criminal Law, Evidence Law, General Law, Income Tax Law, International Law | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

NPA definition constitutional: SC

In an important decision, the Supreme Court of India upheld the constitutional validity of amended definition of “non-performing assets” under The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (“Act”) stating that the function of … Continue reading

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No time limit for usufructuary mortgagor to see redemption: SC

The Supreme Court of India clarified that the right of the usufructuary mortgagor to recover possession of the property commences when mortgage money is paid out of rents and profits or partly out of rents and profits and partly by … Continue reading

Posted in Civil Law, Contract Law, General Law, Real Estate | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | 5 Comments

Cheque not an existing debt or liability for advance payments: SC

In an important ruling, the Supreme Court of India held that if a cheque is issued as an advance payment for purchase of the goods and for any reason purchase order is not carried to its logical conclusion, the cheque … Continue reading

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Foreign decree needs to conform to CPC requirements: BHC

The Bombay High Court held that a foreign decree does not create a ‘debt’ that can be said to be ‘payable now’ against an Indian company if the foreign decree does not conform to the requirements of Section 13 of … Continue reading

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Appeal under SARFAESI Act can only be filed before DRT within whose jurisdiction the property is situated: DHC

A Full Bench of Delhi High Court recently ruled that the an appeal/application made under Section 17 of The Secularization and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 can only be filed before the Debt Recovery … Continue reading

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