Generally, you cannot file an FIR (First Information Report) at a police station solely for the recovery of money. Police are not equipped to handle civil matters like debt recovery, and the legal framework doesn’t authorize them to act as …
Filing a summary suit offers several advantages for money recovery, including expedited legal proceedings, faster resolutions, and streamlined procedures. It’s a fast-track mechanism designed for cases involving clear debt or liquidated demands arising from written contracts, enabling quicker recovery compared …
In the realm of financial transactions, cheques are a commonly used instrument to ensure payment security. However, issues often arise when a cheque, particularly a security cheque, gets dishonoured. A widely debated question is whether the dishonour of a security cheque can attract …
Issuing a blank cheque, where only the signature is affixed and all other particulars are left blank, is a common practice in many business and personal transactions in India. While this might seem risky at first glance, Indian law has laid …
In a significant ruling, the Himachal Pradesh High Court has emphasized that winding-up proceedings under the Companies Act should be transferred to the National Company Law Tribunal (NCLT) if they have not reached an irreversible stage. The division bench comprising …
Starting April 1, 2025, the Government of India has implemented significant amendments to the Negotiable Instruments Act, focusing on cheque bounce cases. These updated rules aim to reduce financial fraud, increase accountability, and protect honest recipients of cheques. Here’s a comprehensive …
A cheque bounce notice is a crucial legal document issued under Section 138 of the Negotiable Instruments Act, 1881, when a cheque issued for payment is dishonoured due to insufficient funds or other reasons. This notice serves as the formal intimation …
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 …
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. …
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 …
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 …
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 …
The Securities and Exchange Board of India (SEBI), India’s capital markets regulator, has proposed a significant amendment to its IPO framework, aiming to strengthen transparency and reduce risks associated with physical shareholdings. In a recent consultation paper, SEBI suggested that …
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 …
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 …
A summary suit for recovery of money is a legal action filed in court to recover a debt, often used when the defendant’s liability is clear and undisputed. It’s a streamlined process aimed at faster resolution compared to a regular civil …
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 …
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 …
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 …
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 …