The article analyses the law related to One Time Settlement "OTS." The article discusses the law that OTS cannot be claimed as a matter of right from the bank. A court of law cannot direct OTS because that would mean the court is directing rescheduling of a loan. Where a creditor is enforcing...

It is settled law that the object of Rule 10 of Order I of the Code of Civil Procedure, 1908 (hereinafter referred to as the CPC) is essentially to bring on record all the persons who are parties to the dispute relating to the subject-matter of the suit so that the dispute may be determined in...

As per the amended Section 8 (1) of the A&C Act, 1996, the defendant is required to invoke the arbitration clause and apply to the Court for a reference thereunder by moving an application but is not required to file his written statement or any answer to set out his statement on the substance...

“Mortgage” is a transfer of an interest in immovable property for the purpose of securing the payment of a loan which is created by the act of parties [Harbans V/s Om Prakash, AIR 2006 SC 686]. Section 58 of the Transfer of Property Act, 1882 defines ‘mortgage' and enlists different kinds...

Section 179 of the Income Tax Act, 1961 is not applicable to public companies. In India, we have private limited companies, public limited companies listed on stock exchange and third category of public limited companies which are closely held. Sometimes these third category of companies run the...

Fraud avoids all judicial acts, ecclesiastical or temporal. It is the settled proposition of law that a judgment or decree obtained by playing fraud on the court is a nullity and non-est in the eyes of law. Such a judgment/decree - by the first court or by the highest court - has to be treated...

If the complainant sells the good/commodity/product which forms the subject matter of the complaint or appeal arising from the complaint during the pendency of the complaint or appeal, then the complainant ceases to be ‘consumer' within the meaning of Section 2 (1) (d) of the CPA.An appeal...

The jurisdiction of the court in setting aside an arbitral award is limited and the court cannot correct the errors of the arbitrator in the award, however, the court can only quash the award leaving the parties free to begin the arbitration again if they so desire. An arbitral award being a...

A suit which seeks to recover a debt or a liquidated demand in money payable by the defendant arising out of a written contract is maintainable under Order 37, Rule 1 of the Code of Civil Procedure, 1908 as a summary suit. It is settled law that invoices/ bills are “written contracts” within...

If a complaint preferred under Section 138 of the Negotiable Instruments Act, 1881 is vague and bereft of material particulars, then, merely because a cheque was issued by the accused to the complainant and the same was dishonoured when presented for clearance won't be sufficient to attract the...