All posts by Dhruv Joshi - 3. page

Professional Tax Consultant and Article Writer

LOK ADALATS : Lok Adalats are organized under the Legal Services Authorities Act, 1987. They are intended to bring about a compromise or settlement in respect of any dispute or potential […]

Limitation Period – Precautions to be taken by bank: 1. Banks should preserve all the relevant loan documents in a secured place. 2. The documents should be under dual control […]

TAX LAWS APPLICABLE IN BANKING OPERATIONS : Like any other organization, Banks and Financial Institutions are also required to ensure that all the applicable provisions of the various tax laws (Income […]

SARFAESI Act – Important Aspects : 1. This Act is popularly called as Securitization Act 2. This Act empowers the banks and financial institutions to recover their dues in Non- […]

Important aspects of Bankers’ Book Evidence Act, 1891 : (a) The Act extends to the whole of India except the State of Jammu & Kashmir. (b) ‘Bank’ and ‘banker’ means […]

RECOVERY OF DEBTS DUE TO BANKS AND FINANCIAL INSTITUTIONS ACT, 1993 (DRT ACT) : Recovery of the dues of loans from the borrowers through courts was a major issue for […]

Debt Recovery Tribunals : Debt recovery tribunals (DRTs) have been established by the Central Government. The Central Government decides the jurisdiction and also appoints one member as presiding officer, who should […]

SARFAESI ACT, 2002 : The objective of enactment of the SARFAESI ACT was to regulate securitization and reconstruction of financial assets and the enforcement of security interest and for the matters […]

Revival of Documents : Banks are expected to hold valid legal documents as per the provisions of the Limitation Act, if the limitation period expires, then the bank should arrange to […]

Court Holiday : As per section 4 of the Limitation Act, where the prescribed period for any suit, appeal or application expires on a day when the court is closed, the […]