We also provide you guidance regarding your Debt recovery, Partition of properties and Laws relating to Injunctions.
We provide you
Debt recovery law
In the initial days there were only Presidency Towns Insolvency Acts, 1909 which applied to Kolkata, Chennai and Mumbai and the Provincial Insolvency Act 1920 for the rest of India, for regulating the insolvency laws. These Acts applied to individuals and left out corporations from their purview.
Later, for the purpose of insolvency and bankruptcy laws, various attempts were made by the legislature to formulate and enact laws to effectively deal with the situation of debt recovery. The relevant legislations in this regard are: the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI), Recovery of Debt Due to Banks and Financial Institutions Act, 1993 (DRT Act), Sick Industrial Companies Act, 1985.
Money Recovery Suits
In order to file any suit, the court must have “jurisdiction over your person” and “jurisdiction over the subject matter of the suit” for a valid judgment. If you are to file a money suit against another, there is a jurisdictional requirement that must be observed. The law requires the defendant to be sued in the place where the contract was made or where it was broken.
The question that arises is where can a person sue for recovery of money under money suit?
Filing a money recovery lawsuit is an effective remedial action to recover money from violators. The lawsuit can be brought under Ordinance IV of the Civil Procedure Code of 1908. This is a summary prosecution (Article 37, Civil Procedure Code) that allows the case to be resolved quickly because the defendant does not need to defend himself in a reasonable manner.
Laws relating to Injunction
An injunction is a remedy granted by the court that prohibits the commission of a wrongful threat or the continuance of a wrongful course of action already begun. If a party fails to comply with an injunction granted by a court, then the party could face criminal or civil penalties or contempt of court.
The Indian legal system doesn’t facilitate an application for an injunction, unless and until in the existence of a possibility of an irreparable injury. Irreparable injury is a scenario wherein it is proved that the harm inflicted on the applicant cannot be amended in any other form. The law of injunctions is covered explicitly under various Relief Acts and is implemented in accordance with the Civil Procedure Code. On a precise note, the laws pertaining to this provision which includes Section 151 and Section 94 of the Code.
Following are the different types of the injunction:
- Preliminary injunction
- Preventive Injunction
- Mandatory injunction
- Temporary restraining order
- Permanent injunction
Partition of properties
The Partition Act (1893) authorizes one of claiming entitlement over his/her shares. The article essentially focuses on the underlying laws that are the guidelines of the division of property in India and the actions one may take in dealing with contentions over partition seamlessly and effectively.
The physical partition of any property is executed according to the property’s Partition Deed ensuring each family member gets his/her fair share. Based on the Property Law in India, when the rules of the partition of property aren’t followed or if an amicable settlement is a far cry, a court case may ensue for resolution of contentions.