SARFAESI Act, 2002 contains 42 sections deemed to have come into force on 21 June 2002.
Section 2(b) defines “asset reconstruction” means acquisition by any 2 asset reconstruction company of any right or interest of any bank or financial institution in any financial assistance for the purpose of realisation of such financial assistance. Floating charge is included in the definition of the hypothecation. Non-performing asset is also defined in Section 2(o) of SARFAESI Act, 2002.
An asset reconstruction company should have a minimum of Rs. 2 crore of net owned fund or such higher amount as fixed by the Reserve Bank of India. An ARC can make an appeal to the Central Government against the order of the RBI of cancellation of the registration ; to be done in 30 days.
Any transfer of security receipts does not require compulsory registration. Resolution of certain disputes are to be done by way of conciliation or arbitration as under A&C Act as per Sec.11 of the SARFAESI Act, 2002.
Section 13(2), SARFAESI Act - Demand Notice of 60 days failing which action under clause (4) of Sec.13.
Section 2(b) defines “asset reconstruction” means acquisition by any 2 asset reconstruction company of any right or interest of any bank or financial institution in any financial assistance for the purpose of realisation of such financial assistance. Floating charge is included in the definition of the hypothecation. Non-performing asset is also defined in Section 2(o) of SARFAESI Act, 2002.
An asset reconstruction company should have a minimum of Rs. 2 crore of net owned fund or such higher amount as fixed by the Reserve Bank of India. An ARC can make an appeal to the Central Government against the order of the RBI of cancellation of the registration ; to be done in 30 days.
Any transfer of security receipts does not require compulsory registration. Resolution of certain disputes are to be done by way of conciliation or arbitration as under A&C Act as per Sec.11 of the SARFAESI Act, 2002.
Section 13(2), SARFAESI Act - Demand Notice of 60 days failing which action under clause (4) of Sec.13.
Sectiuon 13(4) - Possession notice.
The mode of proving a Will does
not ordinarily differ from that of proving any other document
except to the special requirement of attestation prescribed in
the case of a Will by Section 63 of the Succession Act. The
onus of proving the Will is on the propounder and in the
absence of suspicious circumstances surrounding the
execution of the will, proof of testamentary capacity and the
signature of the testator as required by law is sufficient to
discharge the onus. Where however there are suspicious
circumstances, the onus is on the propounder to explain
them to the satisfaction of the court before the court
accepts the Will as genuine. [Indu Bala Bose and
Ors. v. Manindra Chandra Bose and Anr.: (1982) 1 SCC 20] As per Section 63 of the Succession Act, inter alia,
requires that the Will ought to be attested by two or more witnesses. Hence,
any document propounded as a Will cannot be used as evidence unless at
least one attesting witness has been examined for the purpose of proving
its execution, if such witness is available and is capable of giving evidence
as per the requirements of Section 68 of the Evidence Act.
Res judicata is a principle contained in Section 11 of CPC, 1908. Constructive res judicata is contained in CPC as well. The provisions of second appeal are contained in Section 100 of the CPC and one may refer S.101 of CPC as well while dealing with second appeals.
CPC contains provisions for interpleader suits as well as for mesne profits.
Under SRA, one may refer S.41 for anti suit injunctions (Refer Cotton Corporation 2004 SCC).
Different courts pronounce their decisions on the basis of the facts and the laws applicable on them. Several Indian statutes have been enacted by the Parliament/State Legislatures in accordance with the powers conferred on them and they need to be in conformity with the Part III of the Constitution.
Part III contains fundamental rights, which through few judgments, are even stated that they already exists and constitution of India only states them.
A leading right is right to equality (refer Article 14) and right to life (a.21). A.32 is also treated as a fundamental right. The current Article 300-A of right to property is not a fundamental right, though, Article 14 states that every law which creates a distinction should have reasonable classification and nexus to the differentiation created. A.21, on the other side, is associated with what is right to life and due process of law, as explained through Maneka Gandhi Judgment.
S.125 of the Representation Act, 1951 may kindly be referred for what may not be done by the candidates contesting an election. The role of Election Commission is also contained in the Constitution. Similarly, role of Governor, Finance Commission and Speaker are also explained therein. Shivraj Singh Chouhan and SR Bommai are few leading judgments of the role of the Governor.
A.244 of the Constitution has recently been discussed in Chebrolou Judgment whilst dealing with the validity of 100% reservation. When we talk of reservations, one must notice A.14, 15 and A.16 as well as Indira Sawhney Judgment as well as M. Nagaraj Judgment.
Drugs and Cosmetics Act, 1940 is important law as it distinguishes what are spurious drugs, misbranded drugs or adulterated drugs. Drugs and Cosmetics Act, 1940 is in addition to and not in derogation of 1930 Act.
IAAI Act and National Airports A Act are associated with AAI Act. They are all Central legislations.
Entry 2 of List 2 of Schedule 7 is police.
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