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Mediation in a cheque bounce case

Mediation in a cheque bounce case

WHAT IS MEDIATION?Mediation is a negotiation facilitated by a third party, which is a neutral party. It is a procedure in which parties discuss their disputes and with the assistance of a trained impartial third person, reach an amicable solution. It is an informal, yet meticulous method and also is a structured process to assist the parties in reaching an agreeable solution. Parties can reach a solution cordially without approaching the court be... Read More

Post By Nivedita Yadav

Recovery of Debts and the methods to recover debts in India

Recovery of Debts and the methods to recover debts in India

When would you need to recover debt?From a loan, credit line or accounts receivable either in part or whole, when the debt cannot be recovered, it becomes bad debt. Additionally, when the enterprise or the asset that becomes owed to repay debt cannot do so anymore, there arises a need to recover debt. Methods for Debt RecoveryThere are a lot of methods to recover debt, some are classified as legal, while others are non-legal.   Non-lega... Read More

Post By Shivangi Bajpai

What is insolvency and bankruptcy code?

What is insolvency and bankruptcy code?

While some business organizations and undertakings flourish each day, there are some that fail to cope up with the changing trends of the market and succumbs to insolvency and bankruptcy. In such scenarios, the winding-up procedures are governed by the Insolvency and Bankruptcy Act which has recently undergone the much-required amendment.What is the IBC Act?The Insolvency and Bankruptcy Code is the supreme authority on bankruptcy law in Indi... Read More

Post By Sankul Nagpal

What to do when faced with bouncing cheques

What to do when faced with bouncing cheques

Cheques are an integral part of our economy and are used in almost all transactions, be it paying the fees of your child or making bulk payments to a vendor. Cheques are becoming the most preferred mode of payment.What is a chequeA cheque is a negotiable instrument or in other words, a document that represents a promise to pay which has been defined under Section 6 of the Negotiable Instruments Act,1881. The person who is the author of the C... Read More

Post By Sankul Nagpal

What if the bank dishonoured a cheque by mistake?

What if the bank dishonoured a cheque by mistake?

What if the bank dishonoured a cheque by mistake? According to Section 138 of the Act, the dishonour of cheque is a criminal offence and is punishable by imprisonment up to two years or with monetary penalty or with both. If payee decides to proceed legally, then the drawer should be given a chance of repaying the cheque amount immediately. Such a chance has to be given only in the form of notice in writing. Wrongful dishonor refers to a... Read More

Post By Pranjal Jain

Can I get arrested for a Cheque Bounce in India?

Can I get arrested for a Cheque Bounce in India?

Can I get arrested for a cheque bounce in India?A cheque is said to be dishonoured or bounced when it is presented for payment to a bank but it is not paid because of some reason or the other.Cheque bounce is a criminal offence in India, covered under section 138 of the Negotiable Instruments Act. You must obtain anticipatory bail from the District Court or High Court, if the opposite party lodges a complaint against you and the same... Read More

Post By admin

How banks recover loans?

How banks recover loans?

The banks, financial institutions, and even personal lenders are now facing the problem of recovering the money advanced to individuals and business entities. Due to this, lenders have started restraining themselves from giving out loans. The need for an effective system of recovery that could work in favour of the lenders, was fulfilled after the formation of the Debt Recovery Tribunals in India.With Dispute Resolution Tribunals now in place, a ... Read More

Post By Sankul Nagpal

What is the Debt Recovery Tribunal in India? How does it Works?

What is the Debt Recovery Tribunal in India? How does it Works?

Debt Recovery Tribunals also known as DRTs were created to facilitate the speedy recovery of debt payable to banks and other financial institutions by their customers. The banks and financial institutions had been facing problems in recovery of loans advanced by them to individual people or business entities. Due to this, the banks and financial institutions started restraining themselves from advancing out loans. There was a need to ha... Read More

Post By admin

How to deal with bad debt ?

How to deal with bad debt ?

Having surplus money to invest or to use for other purposes is a boon not everyone is lucky to have. This is why many of us acquire money on credit in times of need. This leads to monetary debt that we need to pay.What is debt? Debt is an amount of money borrowed by one party from another. Debt is used by many corporations and individuals as a method of making large purchases that they could not afford under normal circumstances. A debt arrangem... Read More

Post By Sankul Nagpal

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LAWYER SERVICE FOR PROPERTY POSSESSION DELAY

It is seen that real estate developers and builders delay the delivery of projects by months to years at a stretch. This results in monetary loss and mental harassment for buyers.

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LEGAL SERVICES FOR RECOVERY OF MONEY

Partnership firms, proprietorship firms, companies, traders, individuals and others can file a suit for recovery of their unpaid bills, business dues or payments where there is any form of written contract/agreement formed between the parties.

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Legal Consultation for Marriage Registration From Expert Lawyers in India

If you are married, might as well get it official! A marriage certificate is an official declaration of marriage. Earlier, it was not mandatory to register your marriage in India but since 2006, Hon’ble Supreme Court made it mandatory for the spouses to register their marriage.

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