Income Tax Act, 1961, Rule 2, 16 -- Sch.II - Loan - Recovery of dues - Attachment of property by Income Tax department - Recovery proceedings initiated against respondent by Bank for non-payment of loan amount - Property was attached prior to issuance of notice by Income Tax Officer - Sale of property though conducted after issuance of notice as well attachment order..........
East Punjab Urban Rent Restriction Act, 1949, Section 13B -- Eviction petition - Delivery of immediate possession - Leave to contest - Landlords not disclosed that they have already taken possession of adjoining shops - It is also not case of landlords that aforesaid shops are not in their possession - It is also not in dispute that first floor of tenanted premises in..........
Reserve Bank of India Act, 1934, Section 45JA, 45L, Banking Regulation Act, 1949, Section 36(1)(a), 56, Payment Settlement Systems Act, 2007, Section 10(2), 18 -- RBI circular deals entirely with virtual currencies and prohibition on dealing with same on ground crypto currency eco-system may affect monetary policy - Powers can be exercised both in the form of preventive as..........
Reserve Bank of India Act, 1934, Section 3 -- Access to banking service - Ultra vires - RBI`s power to regulate - RBI is sole repository of power for management of currency - RBI has important role to play in evolving monetary policy of country by participation in Monetary Policy Committee - Anything that may pose threat to or have impact on financial system of country can..........
Criminal Procedure Code, 1973, Section 482, Indian Penal Code, 1860, Section 511, 109, 34, 120B, 409, 420, 405, 417, 426, Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Section 17 -- Complaint u/ss 511, 109, 34, 120-B, 409, 420, 405, 417 and 426 IPC - Dispute regarding recovery of dues by bank - Dismissal of..........
Agreement to sell -- Specific performance - Readiness and willingness - Bank accounts in the name of plaintiffs prove that they had sufficient funds to discharge their obligation with regard to payment of balance sale consideration - There is thus, voluminous and overwhelming evidence on record to prove bona fides of plaintiffs with regard to their readiness and..........
Insolvency and Bankruptcy Code, 2016, Section 43(2), 45, 66 -- `Preferential transactions and relevant time' - Mortgage of property to creditor - JAL (Jaiprakash Associates Limited) owned 71.64% of shares of JIL (Jaypee Infratech Limited) - JIL was declared NPA by LIC and by some of its other lenders - IDBI Bank Limited instituted petition u/S.7 of IBC before NCLT, seeking..........
Delhi Rent Control Act, 1958, Section 14(1)(a) -- Rent and eviction - Non-payment of rent - Tenant failed to produce bank account statement/passbook to show payment of rent - Eviction upheld...........
Banking service -- Transfer order - Judicial review - Respondent transferred from one Branch of Bank to other as she made reports about irregularities and corruption at her branch and her complaints against an officer who sexually harassed her - Internal Complaints Committee (ICC) of Bank constituted but there was a fundamental defect in constitution of ICC set up by Bank..........
Will -- Suspicious circumstance - Will contains signatures of testatrix in Punjabi - However, testatrix was illiterate and she used to put thumb impression and not signatures - Defendant/beneficiary of Will not led any evidence to show that testatrix ever signed any other papers/documents - Plaintiffs on the other hand produced bank account record which shows testatrix..........
