Author: Nirmal Ghorawat
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Partition by Panchas – SC Judgments
Appointment of Panchas for dividing family properties – Reference to Panchas amounts to severance of joint family status – Effects of such division – Binds the parties. “The agreement between the members of the joint hindu family to appoint Panchas for dividing the family properties amounts to severance of the joint family status from the […]
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Essentials of Family Settlement
The Supreme Court of India in the matter of Kale v. Dy. Director of Consolidation AIR 1976 SC 807 has summed up the essentials of the family settlement in the following proposition: “10. In other words to put the binding effect and the essentials of a family settlement in a concretised form, the matter may […]
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Cited By
My articles on this blogpost have been cited by : 1. Antonio, A and Schirra, T (2013). Tracking down European Markets – Tracking performance of ETFs and Mutual Index Funds. 2. Choudhary, P. (2014). India’s standing in global Life Insurance market : A brief analysis. ICMAI Journal, Vol. 40, Dec 2014. 3. Vijay, N. (2014). […]
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Benami Transaction Examples
Section 2(9) of the Benami Transactions (Prohibition) Act, 1988 defines the scope of a “transaction” or “arrangement” labelled by Law as “Benami”. (A) a transaction or an arrangement :- (a) where a property is transferred to, or is held by, a person, and the consideration for such property has been provided, or paid by, another […]
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SC Holds Benami Transactions Prohibition (Amendment) Act, 2016 to apply prospectively, leaves open challenge to Constitutional validity of the 2016 Amendment Act
The Hon’ble Supreme Court of India in the matter of Union of India & Anr vs M/s Ganpati Dealcom Pvt Ltd (CA 5783 of 2022) has considered the matter of retroactive applicability of the Benami Transactions Prohibition (Amendment) Act, 2016 w.r.t to “benami transactions” in the intervening period of 05 September 1988 (Commencement of the […]
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Government Approval Route for Investment in India from Countries sharing land border with India
The Government of India vide Press Note 3 of 2020 issued by Department for Promotion of Industry and Internal Trade has amended para 3.1.1 of the Consolidated FDI policy, 2017. 3.1.1(a) A non-resident entity can invest in India, subject to the FDI Policy except in those sectors/activities which are prohibited. However, an entity of a […]
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Prohibition of Acceptance of Deposits for the purpose of Lending by Unincorporated Business under the RBI Act, 1934
Section 45S of the RBI Act, 1984 prohibits any person being an individual, a partnership firm or an unincorporated association of individuals from accepting deposits if (a) his or its business, wholly or partly includes – the financing, whether by way of making loans or advances or otherwise, of any activity other than its own; […]
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Blockchain & Crypto friendly jurisdiction : Malta
Malta (a small Island country in Mediterranean Ocean, near Italy in Europe) is a Blockchain & crypto-friendly Jurisdiction. It has promulgated 3 progressive laws to transparently regulate Blockchain & Cryptocurrency & NFTs etc. The Laws include The Malta Digital Innovation Authority Act, The Technology Arrangements and Services Act and the Virtual Financial Assets Act. Further, […]
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SC Order on Revenue Appeal against quashing of Section 148 (old) Reassessment Notices by various High Courts
1 The Hon’ble Supreme Court of India has allowed in PART the appeals of Revenue against the orders of various High Courts in matters relating to issue of Reassessment Notices u/s 148 (from 01.04.2021 till date 04.05.2022) following the procedure under the unamended section 148 of Income Tax Act, 1961. 2 The Supreme Court has […]
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(Reblog) Perspectives on Life Insurance Industry In India
First published on 31 January 2013 Synopsis 1 Background of the Insurance Sector 2 Snapshot of the Performance of the Life Insurance Sector post Liberalisation 3 Is LIC – A beneficiary of Liberalisation? 4 The Effect: Increase in Insurance Consumption 5 Role of Advertising – To create Insurance Awareness a. Bima Bemisaal – The Insurance […]
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