Payment SystemIntroductionMode of PaymentSettlement SpeedAvailabilityTransaction LimitBest Used ForCashCash is the oldest and most widely used payment method. It involves the physical exchange of currency notes and coins issued by the…
What is a Payment System? A payment system is a system or method used to transfer money from one person, business, or organization to another. It helps people make and…
ParticularDetailsNameNational Company Law Tribunal (NCLT)Hindi Nameराष्ट्रीय कंपनी विधि अधिकरणNatureQuasi-Judicial BodyEstablished On1 June 2016Established UnderCompanies Act, 2013JurisdictionEntire India (Government of India)Parent MinistryMinistry of Corporate Affairs (MCA)HeadquartersNew DelhiType of BodyTribunal (not a…
Difference Between Limited Liability Partnership (LLP) and Company Detailed Notes (English) – Comparative Table Introduction Both Limited Liability Partnership (LLP) and Company are separate legal entities incorporated under Indian law.…
Section 2 – Definitions under the Limited Liability Partnership Act, 2008 Introduction Section 2 of the Limited Liability Partnership Act, 2008 contains the definitions of important terms used throughout the…
Start-up LLP and Small LLP under the LLP (Amendment) Act, 2021 Introduction The Limited Liability Partnership (Amendment) Act, 2021 introduced two new categories of LLPs—Small LLP and Start-up LLP—to promote…
ParticularsDetailsName of the ActLimited Liability Partnership Act, 2008Long TitleAn Act to make provisions for the formation and regulation of Limited Liability Partnerships and for matters connected with or incidental thereto.Act…
Section 2(1): Definitions (a) Appellate Tribunal Meaning: The Debts Recovery Appellate Tribunal (DRAT) hears appeals against the orders of the Debts Recovery Tribunal (DRT). Key Point: Higher authority than DRT.…
The SARFAESI Act, 2002 has been interpreted and strengthened through several landmark judgments of the Supreme Court of India. These decisions have clarified the powers of secured creditors, the rights…
ParticularDetails Name of the ActSecuritisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) Act NumberAct No. 54 of 2002 Territorial ExtentWhole of India Enacted…
