Ministry of Finance Approves Aadhaar-Based Authentication for Five NBFCs Under PMLA

In a significant step toward enhancing the digital infrastructure of financial services and combating money laundering, the Department of Revenue under the Ministry of Finance has officially permitted five prominent Non-Banking Financial Companies (NBFCs) to conduct Aadhaar-based authentication. This authorization …

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PMLA Review Petitions Limited to Two Issues, Says Union Government to Supreme Court

The Union Government informed the Supreme Court that the scope of review petitions challenging the Vijay Madanlal Choudhary judgment—which upheld key provisions of the Prevention of Money Laundering Act (PMLA), 2002—must be confined to two specific issues flagged during the admission stage. …

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Understanding Jurisdiction in Summary Suits under Order 37 CPC: A Comprehensive Legal Insight

Introduction to Summary Suits under Order 37 CPC Summary suits, governed by Order XXXVII of the Code of Civil Procedure (CPC), provide a fast-track litigation mechanism for cases involving liquidated demands, promissory notes, bills of exchange, and written contracts. This procedure helps …

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BJP CA Cell Urges Maharashtra Government to Launch Amnesty Scheme for Partnership Firms

Chartered Accountants and legal experts seek relief for procedural lapses under Registrar of Firms regulations In a significant move aimed at supporting the ease of doing business in Maharashtra, a group of chartered accountants and legal professionals—operating under the BJP …

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What are the Required Evidences for Filing a Money Recovery Suit?

To file a money recovery suit, you’ll need evidence demonstrating the debt and the obligation to repay. This can include contracts, receipts, bank statements, or any other document proving the money was lent or owed. Essentially, you need to establish that the …

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Himachal Pradesh High Court: MNREGA Workers Not Entitled to Compensation Under Employees’ Compensation Act

In a significant judgment, the Himachal Pradesh High Court has ruled that workers engaged under the Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA), 2005, are not covered under the Employees’ Compensation Act, 1923. This decision affirms that such workers …

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Supreme Court’s Verdict in BPSL Insolvency Case: A Landmark in redefining the scope and application of the Insolvency and Bankruptcy Code (IBC), 2016

On May 2, 2025, the Supreme Court of India delivered a landmark judgment in the Bhushan Power and Steel Limited (BPSL) insolvency case, significantly redefining the scope and application of the Insolvency and Bankruptcy Code (IBC), 2016. By overturning the 2020 ruling of …

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How to Decide the Jurisdiction to File a Meney Recovery Suit?

To determine the appropriate jurisdiction for a money recovery suit, consider both territorial and pecuniary factors. Territorially, the suit can be filed where the defendant resides, carries on business, or where the cause of action arose. Pecuniary jurisdiction depends on the value …

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Cheque Bounce New Rules 2025: Stricter Penalties, Faster Complaint Filing & Key Changes You Must Know

Cheque Bounce New Rules 2025: Stricter Penalties, Faster Complaint Filing & Key Changes You Must Know Starting April 1, 2025, the Government of India has introduced significant amendments to the Negotiable Instruments Act, tightening rules around cheque bounce cases. These updates aim to …

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RBI Levied Monetary Penalties totaling Rs. 2.206 crore on 5 Leading Banks

The Reserve Bank of India (RBI) has levied monetary penalties totaling Rs. 2.206 crore on five leading Indian banks for various lapses in regulatory compliance. The banks penalized include ICICI Bank, Axis Bank, IDBI Bank, Bank of Maharashtra, and Bank …

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Himachal Pradesh High Court: Insurance Company Not Liable for Gratuitous Passenger in Goods Vehicle

In a recent landmark judgment, the Himachal Pradesh High Court has ruled that insurance companies are not liable to compensate gratuitous passengers, such as porters or labourers, travelling in goods vehicles. The judgment was passed by Justice Satyen Vaidya in …

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J&K High Court: Demand Notice Must Be Read as a Whole, Minor Error Doesn’t Invalidate Cheque Bounce Proceedings

In a significant ruling under the Negotiable Instruments Act, 1881, the High Court of Jammu & Kashmir and Ladakh has held that a minor typographical error in a statutory demand notice does not invalidate proceedings for cheque dishonour. The decision came …

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How to File a Money Recovery Suit in India: A Complete Legal Guide

Money disputes are as old as trade itself. From handshake agreements to formal contracts, unpaid dues often lead individuals and businesses into legal battles. In India, money recovery suits offer a structured legal mechanism to recover such debts—but the process …

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Process of Filing Cheque Bounce Cases under Section 138 of the Negotiable Instruments Act, 1881: Key Points

A cheque bounce case occurs when a cheque, presented for payment, is returned unpaid by the bank due to insufficient funds in the drawer’s account. This is a criminal offense under Section 138 of the Negotiable Instruments Act, 1881, and can result …

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Supreme Court Upholds Power of Courts to Award Interest in Absence of Contractual Agreement: K. Merchants Pvt. Ltd. vs. State of Rajasthan

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In a landmark judgment, the Supreme Court of India clarified the application of Section 34 of the Code of Civil Procedure (CPC), reaffirming that courts have the authority to determine interest rates in the absence of a specific contractual agreement …

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Understanding the Demat Debit and Pledge Instruction (DDPI) Framework by SEBI

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Demat Debit & Pledge Instruction (DDPI) Mechanism: The Securities and Exchange Board of India (SEBI), in its continued efforts to enhance transparency and investor protection, introduced the Demat Debit and Pledge Instruction (DDPI) mechanism through a circular dated April 4, …

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