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Non Performing Asset NPA

Top Ten Legal Problems and Solutions with respect to Cheque Bounce Cases under the Negotiable Instruments Act of 1881: Lawyers Advice

With the expansion of the markets, instruments used in order to transfer money are being used more than ever. One of the most common instruments used is the ‘Cheque’ which may be used in various transactions such as the payment of bills, fees, transfer of money from one person to another among several others. It is important to ensure that this negotiable instrument as defined by Section 6 of the Negotiable Instruments Act, 1881 is not misused. Therefore, Section 138-142 of the Negotiable Instruments Act, 1881 provides for the penalties in the case of dishonour of the cheques or non-fulfilment...

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Laws & Legal Procedure for Unregistered Partnership Firms to File for Voluntary Winding-Up: Lawyers Advice

Unlike English Law where registration of partnerships firms is compulsory and a penalty is imposed upon registration, the Indian Partnership Act, 1932 doesn’t make registration compulsory. However, the legal effects of registration and non-registration vary. This article seeks to examine the legal procedure for unregistered partnerships firms to file for voluntary insolvency under the IBC. Before elaborating on the procedures and options available to unregistered partnership firms, it is crucial to analyse the governing statues and the respective sections for a better understanding. They are as follows – The Companies Act, 2013 – Sections 375-378 deal with winding up of...

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Laws & Legal Procedure for Recovering Outstanding Debts & Unpaid Money: Lawyers Advice

At times money extended to a company or an individual becomes irrecoverable. And various provisions in the law provide for the recovery of such debts. Some of these important provisions that come to the rescue of creditors are listed below: Recovery of Outstanding Debt & Unpaid Money under the Negotiable Instruments Act, 1881The introduction of Chapter XVII containing sections 138 to 147 was done to improve the efficacy of banking operations. Another prominent reason was to prevent the payee from suffering on account of non-payment due to dishonour of cheque. On that account, Section 138 of the Act lists the...

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Mitigating the Effect of COVID-19 on MSMEs and Business Loans: Lawyers Advice

Medium, Small and Micro Enterprises (MSMEs) have contributed immensely to our economy and with investment at low levels, it has been giving the highest employment in the country giving a wide range of services and products.Due to the lockdown, the MSMEs are one of the worst hit because of the sudden pause on all operations, thereby creating a state of alarm. Regulations regarding Secured Lending in India: -Secured lending is regulated in India. A number of institutions are authorized to participate in lending activities. These include: • scheduled and non-scheduled commercial banks; • non-banking finance...

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Basic Rights of Borrowers: SARFAESI Act of 2002

The Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest (SARFAESI) Act of 2002 was enacted to fight the menace of Non-Performing Assets (NPA), on the basis of the recommendations made by the Andhyarujina Committee. But many experts were of the belief that the act is draconian and completely favours the Banks, Financial Institution and other Non-Banking Financial Institutions (NBFCs) and hence, it is against the principle of equity and natural justice. The constitutionality of the SARFAESI Act of 2002 had been put to question in the landmark case of Mardia Chemicals v Union of India AIR 2004...

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Corporate Debt Restructuring (CDR) Mechanism in India

The idea of Corporate Debt Restructuring (CDR) was acquainted with the India when in the year 2001, the Reserve Bank of India (RBI) thought of specific rules to be trailed by banks and other money related organizations. The RBI expressed that the idea of CDR is a non-statutory and intentional procedure where if 75% of the lenders (by esteem) choose to help the organization, the other 25% of the lenders will likewise have the consent to help the organization through the procedure of CDR. The CDR is accessible just to those organizations which have numerous financial balances and has assumed...

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Recovery of Debts by Corporate: Cheque & Negotiable Instruments Act, 1881 | Corporate Debt Recovery Attorney in Delhi NCR | Corporate Debt Recovery Lawyer in Delhi NCR |

Corporate Debt Recovery Lawyer in New Delhi | Corporate Debt Recovery Lawyer in India | Corporate Debt Recovery Lawyer in Delhi NCR | Corporate Debt Recovery Lawyer in Delhi | Corporate Debt Recovery Lawyer in Noida | Corporate Debt Recovery Lawyer in Gurugram | Corporate Debt Recovery Attorney in Delhi NCR | Corporate Debt Recovery Attorney in Delhi | Corporate Debt Recovery Attorney in Noida | Corporate Debt Recovery Attorney in Gurugram | Corporate Debt Recovery Attorney in New Delhi | Corporate Debt Recovery Attorney in India | Corporate Debt Recovery Legal Solutions in Delhi NCR | Corporate Debt Recovery...

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Recovery of Debts by Corporate: Insolvency and Bankruptcy Code, 2016 | Corporate Debt Recovery Attorney in Delhi NCR | Corporate Debt Recovery Lawyer in Delhi NCR |

Corporate Debt Recovery Lawyer in New Delhi | Corporate Debt Recovery Lawyer in India | Corporate Debt Recovery Lawyer in Delhi NCR | Corporate Debt Recovery Lawyer in Delhi | Corporate Debt Recovery Lawyer in Noida | Corporate Debt Recovery Lawyer in Gurugram | Corporate Debt Recovery Attorney in Delhi NCR | Corporate Debt Recovery Attorney in Delhi | Corporate Debt Recovery Attorney in Noida | Corporate Debt Recovery Attorney in Gurugram | Corporate Debt Recovery Attorney in New Delhi | Corporate Debt Recovery Attorney in India | Corporate Debt Recovery Legal Solutions in Delhi NCR | Corporate Debt Recovery...

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Recovery of Debts by Corporate: Summary Suits | Corporate Debt Recovery Attorney in Delhi NCR | Corporate Debt Recovery Lawyer in Delhi NCR |

Corporate Debt Recovery Lawyer in New Delhi | Corporate Debt Recovery Lawyer in India | Corporate Debt Recovery Lawyer in Delhi NCR | Corporate Debt Recovery Lawyer in Delhi | Corporate Debt Recovery Lawyer in Noida | Corporate Debt Recovery Lawyer in Gurugram | Corporate Debt Recovery Attorney in Delhi NCR | Corporate Debt Recovery Attorney in Delhi | Corporate Debt Recovery Attorney in Noida | Corporate Debt Recovery Attorney in Gurugram | Corporate Debt Recovery Attorney in New Delhi | Corporate Debt Recovery Attorney in India | Corporate Debt Recovery Legal Solutions in Delhi NCR | Corporate Debt Recovery...

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