KYC NORMS : AN Overview

Posted On & filed under Banking & Insurance Law, Legal Articles.

KYC

INTRODUCTION Way back to the second half of 2002, it is then RBI directed all the banks to implement the KYC guidelines for all the new accounts that will be further getting into operation. The main purpose of KYC norms was to restrict money laundering and terrorist financing when it was introduced in the late… Read more »

Transfer Pricing: Capacity utilization adjustments

Posted On & filed under Banking & Insurance Law, Legal Articles.

Transfer Pricing

Transfer Pricing: Capacity utilization adjustments Tax authorities worldwide are investigating transfer pricing arrangements with increased vigour. In India too one witnesses the multifold increase in transfer pricing disputes and adjustments to the tune of INR 46,465 crore . One such issue, which has been the subject matter of dispute and very little guidance, is discussed… Read more »

Private Equity Investments – A Brief Overview

Posted On & filed under Banking & Insurance Law.

Saloni Mody Dalal Private Equity (“PE”) financing has emerged as a major investor class and has been a driver of economic growth of companies over the world. This note summarizes the key steps involved in consummation of a PE investment. In order to make a PE investment, the PE investor has to undertake a series… Read more »

A Critical essay on compounding of offenses under Companies Act, 2013

Posted On & filed under Banking & Insurance Law, Legal Articles.

Companies Act

INTRODUCTION An ‘offence’ is defined as ‘any act or omission made punishable by any law for the time being in force’ under Section 3(38) of the General Clauses Act, 1897. Section 2(n) of Criminal Procedure Code 1973 (‘CrPC’) also defines ‘offence’ in the same way. A person guilty of committing an offence is liable to… Read more »

Reverse Mortagage

Posted On & filed under Banking & Insurance Law, Legal Articles.

Reverse Mortagage

A ‘Mortgage’ means transfer of an interest in a specific immovable property for the purpose of securing the payment of money advanced as a loan, an existed or future debt. The transferor is called a ‘Mortgagor’ and transferee a ‘Mortgagee’ and an instrument by which transfer is made called ‘MORTGAGE DEED’ which actually depends upon… Read more »

E-BANKING SYSTEM IN THE BANKING SECTOR

Posted On & filed under Banking & Insurance Law, Legal Articles.

e-banking

1. Introduction: The process of globalization and liberalization has virtually transformed the way of business across the globe. The technological innovation of improvements in the communication networking helped the banking sector activities through re-engineer its works. E-Banking is considered as an important input for rapid growth of economic development by providing mechanism of electronic inputs… Read more »

Stamp Duty on Consortium Documents

Posted On & filed under Banking & Insurance Law, Legal Articles.

Question: Whether Joint Deeds of Hypothecations and Joint Deeds of Mortgages executed in Consortium Finance are covered under Section 5 or under Section 6 of Bombay Stamp Act or they do embrace separate and distinct matters or transactions or not? Whether or not they are liable to be stamped as separate instrument with separate stamp… Read more »

Recovery of dues by banks

Posted On & filed under Banking & Insurance Law, Legal Articles.

1.         Introduction: Most of the companies and us approach Banks and Financial Institutions for loans. The reason for the loan may differ from person to person and company to company. All Banks should function in accordance with the guidelines/norms issued by the Banker’s Bank ‘The Reserve Bank of India’. Subject to the lending norms of… Read more »