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Showing posts with label debt. Show all posts
Showing posts with label debt. Show all posts
Thursday, 8 June 2023

Is a contractual provision for a lock-in period in a leave and license agreement illegal?

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The result of this discussion, in summary, is that for the purposes of Section 433 of the Companies Act, 1956: (a) The liability of the resp...
Sunday, 27 November 2022

Landmark Privy Purse Supreme Court Judgment laying down four stages through which a debt or liability to pay money passes

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 In his summary of the Law of Contract (p. 124) Langdell remarked that 'a debt according to the popular conception of the term, is a sum...
Saturday, 9 July 2022

Gujarat HC: Amount of PPF account shall not be liable to any attachment in respect of any debt or liability

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It is not in dispute that the respondent Bank have withdrawn/debited the aforesaid amount of Rs. 85,380/- from the PPF Account of the petiti...
Saturday, 8 May 2021

Whether an entry of debt made in the balance sheet can amount to an acknowledgement of liability as per S 18 of the Limitation Act?

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 Going by the above provisions, a balance sheet is the statement of assets and liabilities of the company as at the end of the financial yea...
Thursday, 2 April 2020

How to ascertain limitation for filing of suit if payment on account of debt is made by postdated cheque?

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Shri Abhishek Manu Singhvi, learned senior Counsel has relied on two judgments of this Court, which need to be noticed: (i) Jiwanlal Achar...
Monday, 21 October 2019

Whether court should dismiss complaint for dishonour of cheque if cheque amount is more than amount due?

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  However, the learned Trial Court found contradiction in the number of cartons in the complaint as well as in the statement of the ap...
Saturday, 14 September 2019

Supreme Court: Non Payment Of Debt After Issuance Of Recovery Certificate Not A Continuing Wrong

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 Having heard learned Counsel for both parties, we are of the view that this is a case covered by our recent judgment in B.K. Educational...
Wednesday, 2 January 2019

Whether mesne profits is debt?

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The decree-holder in his counter-affidavit contended inter alia that the debtor is not a small farmer as he is cultivating about Ac. 10.00...
Thursday, 15 June 2017

Whether pawnee has right to file suit for recovery of debt even though he is in possession of pledged Goods?

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The Supreme Court in the case of Infrastructure Leasing and Financial Services Ltd. Vs. B.P.L. Ltd., MANU/SC/0018/2015 : (2015) 3 SCC 36...
Sunday, 19 March 2017

Whether insolvency petition is maintainable if debt is denied by debtor?

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This contention of Mr. Bhandari that if the debt is denied by the debtor then no petition would be maintainable under Section 9 of the Ac...
Sunday, 25 December 2016

What is basic concept of legal necessity?

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Meaning of legal necessity is given in para 241 of the Hindu Law by Mulla. This para shows that legal necessity includes family debts i...
Thursday, 8 December 2016

Whether offence of dishonour of cheque is made out if debt amount is less than cheque amount?

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 The indorsement for part payment of the cheque was explained under Section 56 of the N.I. Act. According to Section 56 of the Negotiab...
Tuesday, 8 November 2016

Whether son is liable to pay father's debt if father is discharged insolvent?

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   As regards the first contention, there can be no doubt that if the decree was against Nandji alone, the effect of the order of discha...
Sunday, 24 July 2016

Whether unliquidated damages are debt?

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It would be profitable in, this connection to refer to the concept of a 'debt', for a sum due is the same thing as a debt due. ...

What is meaning of debt?

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 The term 'liability' has been defined as obligation, debt, etc. In First National Bank v. Sant Lal, MANU/PH/0102/1959 : AIR 19...
Wednesday, 4 May 2016

When debt will not be loan for purposes of money lenders Act?

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The matter seems to be concluded by the decision of the Supreme Court in Radha Kissen vs. Keshardeo (MANU/SC/0135/1957 : A.I.R. 1957 SC ...
Friday, 27 March 2015

Whether Directors of company are liable to pay debt taken by company?

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 As per the case made out in the Original Application, the petitioner is neither a Borrower nor a Guarantor. The defendant No. 1 being a Co...
Monday, 12 May 2014

Whether offence of dishonour of cheque is made out if cheque amount is more than actual debt?

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 Based on the entire evidence on record the learned trial court has come to the conclusion that the complainant could not prove his case ...

Whether creditor of father can claim priority in payment of his debt in case of insolvency of son?

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It is in this sense of obligation that the word 'charge' is used in the passage in Mayne's Hindu Law and not in the sense of th...
Thursday, 17 April 2014

Compensation awarded under Land Acquisition Act is not a debt- claimants are not required to furnish a succession certificate

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Ramkali W/o Jagmal, Vs. State of U.P. through Collector and New Okhla Industrial Development Authority (NOIDA) through its Chairman ...