Articles by FCS Deepak Pratap Singh

Discharge of agreement and its effect on arbitration clause

FCS Deepak Pratap Singh 25 April 2022 at 08:50

The discharge of a contract is characterised as the end of an agreement or an arrangement made by a couple of parties, which results in the failure in performing or playing out the obligations referenced at the hour of making a contract with the acknowledgment of all the parties with free consent.

Labelling a Cheque as a Security Does not Obivate its Character

FCS Deepak Pratap Singh 23 April 2022 at 16:12

THE APEX COURT in its recent decision in held that merely labelling a cheque as a security would not obviate its character as an instrument designed to meet a legally enforceable debt or liability.

Non-compete fees paid to key employees at the time of joining is in the nature of "Salary Income"

FCS Deepak Pratap Singh 23 April 2022 at 11:19

Karnataka HC rules that non-compete fees paid to key employees at the time of joining is in the nature of "salary income".

Master Direction - RBI (Regulatory Framework for Microfinance Loans) Directions, 2022

FCS Deepak Pratap Singh 22 April 2022 at 08:12

Master Direction - Reserve Bank of India (Regulatory Framework for Microfinance Loans) Directions, 2022

Third Party Insurance deemed to be transferred along with effective control over vehicle in a Hire Agreement

FCS Deepak Pratap Singh 21 April 2022 at 08:48

If you have bought a second-hand vehicle and got the vehicle registered in your name but have not made any change in the insurance policy, then you will not get the claim if the vehicle meets with an accident.

LIC policyholders are not entitled to dividend from surplus fund

FCS Deepak Pratap Singh 21 April 2022 at 08:48

THE BOMBAY HIGH COURT has refused ad-interim relief to stall the proposed Initial Public Offering (IPO) by the country's oldest and largest insurer –Life Insurance Corporation of India, with a rider that any IPO before the court finally decides the challenge would be subject to the outcome of the petition.

Some important judgments on Income Tax, GST, IBC and other corporate laws

FCS Deepak Pratap Singh 16 April 2022 at 17:39

Important judgments on Income Tax, GST, IBC and other corporate laws has been listed in this article

Income Tax Questions & Answers Series Consolidated

FCS Deepak Pratap Singh 16 April 2022 at 08:05

As we are aware that Income of a resident in India from sources anywhere in world will be taxable under provisions of Income Tax Act, 1961. In case a person, who is a non-resident in India during previous year and he earns any income from India, then taxability of that Income will be decided on the basis of source of income as well as residence of assessee.

Whether provisions of Section 143A of NIA, 1881 is prospective or retrospective

FCS Deepak Pratap Singh 16 April 2022 at 08:04

Negotiable Instruments Act,1881 is an Act to define and amend the law relating to Promissory Notes, Bills of Exchange and Cheques.

Whether mere endorsement of the Bank "payment stopped" is sufficient to entertain the complaint u/s 138 of NI Act?

FCS Deepak Pratap Singh 14 April 2022 at 07:45

A well appreciated and welcome decision from the Apex Court in which court held that the object of Chapter XVII, which is intituled as "OF PENALTIES IN CASE OF DISHONOUR OF CERTAIN CHEQUES FOR INSUFFICIENCY OF FUNDS IN THE ACCOUNTS" and contains Sections 138 to 142, is to promote the efficacy of banking operations and to ensure credibility