The Department of Industrial Policy and Promotion (DIPP) has notified that the government has opened a special window just for this process. With this window, the time period to process the applications will diverge from the normal route and is now reduced to two and a half years immediately. This process will be further reduced to […]
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Family trusts, often used to ring-fence wealth and enable smoother succession planning by ageing patriarchs of Indian households, will not have the freedom to add cousins, nephews, niece, or other `non-relatives’ as ‘beneficiaries’ in future. If a trust deed gives trustees the liberty to include such persons even years later, the trust could be taxed
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Suits against trustees and their representatives Notwithstanding anything contained in the foregoing provisions of this Act, no suit against a person in whom property has become vested in trust for any specific purpose, or against his legal representatives or assigns (not being assigns for valuable consideration), for the purpose of following in his or their
Section 10 – LIMITATION ACT, 1963 Read More »
Continuous running of time Where once time has begun to run, no subsequent disability or inability to institute a suit or make an application stops it: Provided that, where letters of administration to the estate of a creditor have been granted to his debtor, the running of the period of limitation for a suit to recover
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In 2013, the Government of India implemented the National Food Security Act 2013. According to this Act, food ration material is made available to the families of economically weaker sections at a low price. This food material includes wheat, rice, coarse grains etc. Under this scheme, 5 kg of food material will be provided per
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As per RBI’s Financial Stability Report December 2024, Gross NPA ratio of India’s banks falls to a 12-year low of 2.6%. NPA expands to non-performing assets (NPA). Reserve Bank of India defines Non Performing Assets in India as any advance or loan that is overdue for more than 90 days. “An asset becomes non-performing when it ceases
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Barcodes are graphical representations of data that are optically machine-readable. In India, the use of barcodes has become ubiquitous across various industries. From retail to manufacturing, barcodes streamline processes, enhance accuracy, and contribute to the overall efficiency of supply chain management. What is Barcode? Barcodes are vertical lines representation that can be scanned electronically to
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Special exceptions Nothing in section 6 or in section 7 applies to suits to enforce rights of preemption, or shall be deemed to extend, for more than three years from the cessation of the disability or the death of the person affected thereby, the period of limitation for any suit or application.
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All SBI customers are asked to create a 4-digit debit card PIN or Green PIN after opening a savings or current account. SBI Debit Card PIN generation is required to activate your SBI debit card and enable a secure debit card transaction. Methods for SBI Debit Card PIN Generation SBI ATM PIN generation through ATM
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Disability of one of several persons Where one of several persons jointly entitled to institute a suit or make an application for the execution of a decree is under any ‘such disability, and a discharge can be given without the concurrence of such person, time will run against them all; but, where no such discharge
Section 7 – LIMITATION ACT, 1963 Read More »