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Start Free TrialIndian Succession Act, 1925 Chapter 16
Title: Of Ademption of Legacies
State: Central
Year: 1925
..... "the debt which C owes me": "2,000 rupees which I have in the hands of D": "the money due to me on the bond of E": "my mortgage on the Rampur factory". All these debts are extinguished in A's lifetime, some with and some without his consent. All the legacies are adeemed. (ii) A bequeaths to B his interest in certain policies of life assurance. A in his lifetime receives the amount of the policies. The legacy is adeemed. Section 155 - Ademption pro tanto by testator's receipt of part of entire thing specifically bequeathed The receipt by the testator of a part of an entire thing specifically bequeathed shall operate as an ademption of the legacy to the extent of the sum so received, Illustration A bequeaths to B "the debt due to me by C'. The debt amounts to 10,000 rupees. C pays to A 5,000 rupees the one-half of the debt. The legacy is revoked by ademption, so far as regards the 5,000 rupees received by A. Section 156 - Ademption pro tanto by testator's receipt of portion of entire fund of which portion has been specifically bequeathed If a portion of an entire fund or stock is specifically bequeathed, the receipt by the testator of a portion of the fund or.....
View Complete Act List Judgments citing this sectionINDIAN SUCCESSION ACT, 1925 Section 155
Title: Ademption pro tanto by testator's receipt of part of entire thing specifically bequeathed
State: Central
Year: 1925
The receipt by the testator of a part of an entire thing specifically bequeathed shall operate as an ademption of the legacy to the extent of the sum so received, Illustration A bequeaths to B "the debt due to me by C'. The debt amounts to 10,000 rupees. C pays to A 5,000 rupees the one-half of the debt. The legacy is revoked by ademption, so far as regards the 5,000 rupees received by A.
View Complete Act List Judgments citing this sectionIndian Succession Act, 1925 Section 161
Title: When Removal of Thing Bequeathed Does Not Constitute Ademption
State: Central
Year: 1925
The removal of the thing bequeathed from the place in which it is stated in the will to be situated does not constitute an ademption, where the place is only referred to in order to complete the description of what the testator meant to bequeath. Illustrations A bequeaths to B "all the bills, bonds and other securities for money belonging to me now lying in my lodgings in Calcutta". At the time of his death these effects had been removed from his lodgings in Calcutta. (ii) A bequeaths to B all his furniture then in his house in Calcutta. The testator has a house at Calcutta and another at Chinsurah, in which he lives alternately, being possessed of one set of furniture only which he removes with himself to each house. At the time of his death the furniture is in the house at Chinsurah. (iii) A bequeaths to B all his goods on board a certain ship then lying in the river Hughli. The goods are removed by A's directions to a warehouse, in which they remain at the time of A's death. No one of these legacies is revoked by ademption.
View Complete Act List Judgments citing this sectionINDIAN SUCCESSION ACT, 1925 Section 156
Title: Ademption pro tanto by testator's receipt of portion of entire fund of which portion has been specifically bequeathed
State: Central
Year: 1925
If a portion of an entire fund or stock is specifically bequeathed, the receipt by the testator of a portion of the fund or stock shall operate as an ademption only to the extent of the amount so received; and the residue of the fund or stock shall be applicable to the discharge of the specific legacy. Illustration A bequeaths to B one-half of the sum of 10,000 rupees due to him from W. A in his lifetime receives 6,000 rupees, part of the 10,000 rupees. The 4,000 rupees which are due from W to A at the time of his death belong to B under the specific bequest.
View Complete Act List Judgments citing this sectionSecuritisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 Section 25
Title: Securitisation Company or Reconstruction Company or Secured Creditor to Report Satisfaction of Security Interest
State: Central
Year: 2002
.....company or the secured creditors and requiring registration under this Chapter, within thirty days from the date of such payment or satisfaction, 1[1A) On receipt of intimation under sub-section (1), the Central Registrar shall order that a memorandum of satisfaction shall be entered in the Central Register.] (2)2[If the concerned borrower gives an intimation to the Central Registrar for not recording the payment or satisfaction referred to in sub-section (1), the Central Registrar shall on receipt of such intimation], cause a notice to be sent to the securitisation company or reconstruction company or the secured creditor calling upon it to show cause within a time not exceeding fourteen days specified in such notice, as to why payment or satisfaction should not be recorded as intimated to the Central Registrar. (3) If no cause is shown, the Central Registrar shall order that a memorandum of satisfaction shall be entered in the Central Register. (4) If cause is shown, the Central Registrar shall record a note to that effect in the Central Register, and shall inform the borrower that he has done so. _____________________ 1. Inserted by Act 30 of 2004, sec......
View Complete Act List Judgments citing this sectionCompanies Act, 2013, Section 82
Title: Company to Report Satisfaction of Charge
State: Central
Year: 2013
.....the payment or satisfaction in full of any charge registered under this Chapter within a period of thirty days from the date of such payment or satisfaction and the provisions of sub-section (1) of section 77 shall, as far as may be, apply to an intimation given under this section. (2) The Registrar shall, on receipt of intimation under sub-section (1), cause a notice to be sent to the holder of the charge calling upon him to show cause within such time not exceeding fourteen days, as may be specified in such notice, as to why payment or satisfaction in full should not be recorded as intimated to the Registrar, and if no cause is shown, by such holder of the charge, the Registrar shall order that a memorandum of satisfaction shall be entered in the register of charges kept by him under section 81 and shall inform the company that he has done so: Provided that the notice referred to in this sub-section shall not be required to be sent, in case the intimation to the Registrar in this regard is in the specified form and signed by the holder of charge. (3) If any cause is shown, the Registrar shall record a note to that effect in the register of charges and shall inform the.....
View Complete Act List Judgments citing this sectionCompanies Act, 1956 Section 138
Title: Company to Report Satisfaction and Procedure Thereafter
State: Central
Year: 1956
.....full], of any charge relating to the company and requiring registration under this Part, within2[thirty] days from the date of such payment or satisfaction. (2) The Registrar shall, on receipt of such intimation, cause a notice to be sent to the holder of the charge calling upon him to show cause within a time (not exceeding fourteen days) specified in such notice, why payment or satisfaction should not be recorded as intimated to the Registrar. (3) If no cause is shown, the Registrar shall order that a memorandum of satisfaction3[***]shall be entered in the register of charges. (4) If cause is shown, the Registrar shall record a note to that effect in the register, and shall inform the company that he has done so. (5) Nothing in this section shall be deemed to affect the power of the Registrar to make an entry in the register of charges under section 139 otherwise than on receipt of an intimation from the company. ________________________ 1. Substituted by Act 65 of 1960, Section 30, for "in whole or in part" (w.e.f. 28-12-1960). 2. Substituted by Act 31 of 1965, Section 62 and Schedule, for "twenty-one" (w.e.f. 15-10-1965). 3. The words "in whole or in part,.....
View Complete Act List Judgments citing this sectionNegotiable Instruments Act, 1881 Section 60
Title: Instrument Negotiabletill Payment or Satisfaction
State: Central
Year: 1881
A negotiable instrument may be negotiated (except by the maker, drawee or acceptor after maturity) until payment or satisfaction thereof by the maker, drawee or acceptor at or after maturity, but not after such payment or satisfaction.
View Complete Act List Judgments citing this sectionCompanies Act, 1956 Section 139
Title: Power of Registrar to Make Entries of Satisfaction and Release in Absence of Intimation from Company
State: Central
Year: 1956
The Registrar may, on evidence being given to his satisfaction with respect to any registered charge, (a) that the debt for which the charge was given has been paid or satisfied in whole or in part; or (b) that part of the property or undertaking charged has been released from the charge or has ceased to form part of the company's property or undertaking; enter in the register of charges a memorandum of satisfaction in whole or in part, or of the fact that part of the property or undertaking has been released from the charge or has ceased to form part of the company's property or undertaking, as the case may be, notwithstanding the fact that no intimation has been received by him from the company.
View Complete Act List Judgments citing this sectionCompanies Act, 2013, Section 83
Title: Power of Registrar to Make Entries of Satisfaction and Release in Absence of Intimation from Company
State: Central
Year: 2013
(1) The Registrar may, on evidence being given to his satisfaction with respect to any registered charge,-- (a) that the debt for which the charge was given has been paid or satisfied in whole or in part; or (b) that part of the property or undertaking charged has been released from the charge or has ceased to form part of the company's property or undertaking, enter in the register of charges a memorandum of satisfaction in whole or in part, or of the fact that part of the property or undertaking has been released from the charge or has ceased to form part of the company's property or undertaking, as the case may be, notwithstanding the fact that no intimation has been received by him from the company. (2) The Registrar shall inform the affected parties within thirty days of making the entry in the register of charges kept under sub-section (1) of section 81.
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