Gift Deed vs. Will: How to Decide the Best Method for Transferring Your Assets
When planning how to transfer your assets, it’s crucial to understand the distinctions between a Gift Deed vs. Will. A Gift Deed takes effect immediately upon execution, whereas a Will is only activated upon the testator’s death. Each method serves to convey your assets to others, but choosing the appropriate one requires careful consideration. Transferring…
A Comprehensive Guide on How to Incorporate a Company in India
Step 1: Check the Company Name In accordance with the Companies Act 2013 and Companies (Incorporation), 2014 your company name must adhere to specific guidelines: Step 2: Obtain Pre-Registration Documents Before initiating the online company registration process in India, ensure you have the following documents ready: Step 3: Select Business Type Choose the appropriate business…
National Company Law Tribunal
The National Company Law Tribunal (NCLT) is a quasi-judicial entity in India adjudicating matters concerning Indian corporations. Established under the Companies Act of 2013, the tribunal commenced operations on 1 June 2016, following the recommendations of the V. Balakrishna Eradi committee, which focused on insolvency and company winding-up procedures. All cases under the Companies Act,…
Understanding Section 13(2) and 13(4) of the SARFAESI Act: A Comprehensive Guide
The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act), is pivotal legislation that authorizes banks and financial institutions to reclaim dues from delinquent borrowers. Key provisions, specifically Sections 13(2) and 13(4), delineate the procedures for enforcing security interests. This guide will delve into these sections, elucidating their ramifications…
Police Department Found Liable for Policy Lapses
The National Commission has dismissed the police department’s defense, which relied on verbal instructions for discontinuing premium deductions without securing written confirmation. The issue revolves around policy lapses due to these unapproved changes. Constable Sakinder Singh of the Punjab police acquired three Jeevan Saral with profit policies from the Life Insurance Corporation (LIC) of India…