Arbitration Award
General

Enforcement of Arbitral Awards

Enforcement of Arbitral Awards Introduction The credibility of an arbitration-friendly jurisdiction rests primarily on the competence and ability of its award enforcement regime. A favorable award is just a half-won battle, the half is won after its enforcement. In India, the arbitral awards are primarily governed by the Arbitration and Conciliation Act, 1996 (the Act). Awards can be of two…

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Section 138
General

Analysis of Section 138 Negotiable Instrument Act

Negotiable Instruments are considered to be convenient method of transactions in commercial relations. With the advancement of banking sector and with all other benefits of banking system, cheque has become one of the widely used Negotiable Instrument. A cheque is a negotiable instrument that is acknowledged is readily accepted in lieu of payment of money. However, with the passage of…

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Sarfaesi Act
General

SARFAESI RULES

INTRODUCTION The 2002 Act of The Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest, hereinafter referred to as the SARFAESI Act was passed on December 17, 2002.  The purpose of the Act is to help the lenders to recover their debt as soon as possible. The SARFAESI Act assigns great powers to the banks and other financial…

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Debt in Contractual Disputes
General

Time-Barred Debt in Contractual Disputes & Ways for Revival

Introduction The Limitation Act was introduced in 1963 to prescribe a time period for taking legal actions. It prescribes a period to an aggrieved person to file suits after the cause of action has occurred. If he files a suit after the prescribed period, he would be smashed by the law of limitation. In a similar fashion, a time-barred debt…

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Sarfaesi Act 2002
General

Analysis of Section 14 of the SARFAESI Act 2002

Introduction  Section 14 of the SARFAESI Act, 2002 states the power of the Chief Metropolitan Magistrate (CMM) and District Magistrate (DM) to assist secured creditor in taking possession of secured assets. According to section 14 of the Act when the secured creditor takes possession of the secured asset or wants to sell or transfer any secured assets as per the…

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Arbitration to Award
General

Jurisdiction and Power of Arbitrator-To Award Future Interest and Interest Pendente Lite

Introduction The Oxford dictionary defines interest as money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt. In legal disputes, interest is the most sort for liquidated damage which parties seek. In Power of Arbitrator concerning monetary matters, a disputing party can claim three kinds of remedies; interest, future…

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sarfaesi Act
General

Enforcement of Security Interest: SARFAESI Act,2002

Introduction In developing countries, the financial sector has played a vital role as it has increased the economy of the Country. Securities and debt are the latest systems that are introduced in the financial sector. As the latest techniques are introduced, the law should also be adapted according to the changes made in society to keep pace. As there are…

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Arbitration Dispute Resolution
Arbitration

Arbitration Law in India

Introduction Alternative Dispute Resolution (ADR) and litigation can be referred to as two peas in a pod in the world of law and justice. Though both the procedures share common goal i.e. resolution of disputes, the process to reach such a goal is very different. The dictionary meaning of the term ‘litigation’ is the process, act, procedure to describe the…

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Debt Recovery Strategies
General

Strategies and Tools For Bad Debt Recovery Services

Strategies for Debt Recovery Each and every individual working in any sector wants to earn money and the companies that lend money(loan) to such individuals for various purposes are no different. In order to make money/gain profit, it is imperative for lending companies to formulate prudent and well-considered strategies as to how the Bad Debt Recovery Services ought to take…

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Debt Recovery Software
General

Debt Recovery Software

Introduction Debt Recovery Software is a process in which a loan goes unpaid continuously. To save the loan from becoming a bad loan or non-performing asset, the creditor hires a collection agency or a Debt Recovery Software, a third party that helps in the legal recovery of the loan. Loan Recovery Platform verifies every claim of creditors, and then a…

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debt collection agency
General

Debt Collections Companies In India

Overview Each and every individual working in any sector wants to earn money and the companies that lend money (loan) to such individuals for various purposes are no different. Banks and NBFCs (lenders) grant loans to individuals and businesses, known as the borrowers, for a fixed period of time. These borrowers are required to repay the loan within the repayment…

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