Exclusion of time in legal proceedings (1) In computing the period of limitation for any suit, appeal or application, the day from which such period is to be reckoned, shall be excluded. (2) In computing the period of limitation for an appeal or an application for leave to appeal or for revision or for review […]
Free consent as a contract based on Section 13 of the Indian contract act 1872 is, the meaning of free consent is an agreement made between two parties for the same purpose with the Union of thoughts. It is under the principle of consensus-ad-idem. It is the definition of free consent. What is Free Consent?
Suits on contracts entered into outside the territories to which the Act extends (1) Suits instituted in the territories to which this Act extends on contracts entered into in the State of Jammu and Kashmir or in a foreign country shall be subject to the rules of limitation contained in this Act. (2) No rule
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
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
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
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
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
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
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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