When your cheque is bounced multiple times!!

If you have presented your cheque and it has bounced  and you did not take any action and after few days you again presented the cheque and it again gets bounced, what will you do? since you have not taken any action in first instance will you now be allowed to take it? the answer is yes, you can present a cheque multiple times without losing your right to prosecute ,in case the cheque is bounced, until and unless you are satisfying the condition laid down u/s 138 NI act.

Here is the SC judgement-:http://indiankanoon.org/doc/110319578/

Legality of benami properties!!

A Benami property is a property wherein the person who actually pays the consideration of the property (purchaser), purchases the property in the name of other person (benamidar), however the purchaser did not intends to make that other person beneficiary of the propertyThe sole purpose of Benami transaction is to facilitate the purchaser to hide him from the transaction for a various number of reasons like protecting himself from creditors, legal heirs, evading taxes etc.

Legality

Benami transaction may seem improper but they are not purely illegal unless it is a sham transaction wherein the transfer of the property actually does not takes place but takes place only on the papers. However with the enactment of Benami prohibition act, 1988, section 3(3) of the said act makes the person entering into the Benami transaction as a punishable offence, though according to section 3(2) of the said act there are exceptions which makes benami transaction as legal, mainly

  • If the property is purchased in the name of wife or unmarried daughter.
  • Any coparcener in HUF.
  • In the name of trustee, holding a fiduciary capacity.

However the transfer of title in the property may not be said to be illegal in spite prohibition in Benami prohibition act, 1988

Legal Advice-Click here

By Adv. Nitish Banka
B.E LLB(HONS)
9891549997
Practicing Advocate District and High courts in Delhi/NCR

Law related to Forgery!!

Here are the few judgements which would help you in defining forgery in a better sense, apply it in your case to determine whether allegations constitute forgery or not–

  1. This Definition was adopted in Rembert vs. State 25 Am. Rep. 639. In another case, namely, State vs. Phelps 34 Am. Dec. 672, it was laid down that forgery is the false making of any written instrument, for the purpose of fraud or deceit. This decision appears to be based on the meaning of forgery as set out in Tomlin’s Law Dictionary.
  2. From the above, it would be seen that fraud is an essential ingredient of forgery.

http://indiankanoon.org/doc/89564/

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How to register a company Part-1?

Here is the step by step guide for registering a company-

Wishing to start a company or a start-ups here is the valuable piece of information which would help you-:

Remember a private limited company with a share capital of 100000 requires-2 director and 2 subscribers

Step-1: Obtain a DSC certificate

  • DSC is a digitally signed certificate issued by CA agencies-here are the list of agencies which do the job.CA agencies
  • Documents Required
  1. Copy of ID proof Attested by Gazetted Officer
  2. Copy of proof of residence Attested by Gazetted Officer
  3. Photograph on Application Form
 

Step-2:

Obtain DIN

For each director DIN is mandatory. Which is a unique director identification number.

 

Documents Required

Digital Signature

Copy of Verification DIR4*

PAN

Date of Birth proof

You need signature of CS for the DIN.

Step-3:

Fill the INC-1 form

You may need to reserve the name of your company and give 6 proposed name, you may need to do MCA search and TM search for this

Will list the further steps in our next edition How to register a company Part-2?

For assistance-click here

Legal Advice-Click here

By Adv. Nitish Banka
B.E LLB(HONS)
9891549997
Practicing Advocate District and High courts in Delhi/NCR