Court : Mumbai
..... petitioner company has obtained certificate of authorization from the reserve bank of india under section 7 of the payment and settlement systems act, 2007 (for short the said act of 2007 ) to operate a payment system for issue of meal and gift vouchers in the form of 'paper based vouchers' and 'smart meal cards' with effect from 25th june 2009. ..... the said vouchers are payment instructions or payment instruments issued under a payment system operated under the said act of 2007 as per the authorization ..... under section 7 of the said act of 2007. ..... that it ceases to exist within the municipal limits or it was to be used for an indefinite period within the municipal limits so that it ultimately rests within the municipal limits and does not go out subsequently, or the commodity concerned must be shown to have been brought within the municipal limits for the purpose of sale within the said limits. 14. ..... with taxes on the entry of goods into a local area for consumption, use or sale therein, this court observed that the two expressions, "use" and "consumption" together connote the bringing in of goods and animals with a view to their retention either for use without using them up or for consumption in a manner which destroys, wastes or uses them ..... the transaction being isolated as an independent taxable event from the aspect of service, ultimately the question whether there was any splitting up of a composite transaction was also to be determined during assessment proceedings. 18. .....
Tag this Judgment!Court : Punjab and Haryana
..... the grouse of the petitioner is that he was convicted by the learned judicial magistrate 1st class, jalandhar, for commission of an offence punishable under section 25 of the payment and settlement systems act, 2007, and was sentenced to undergo rigorous imprisonment for two years and to pay a fine of rs. ..... 608 of 2014, titled as atul sood versus cholamandalam investment and finance company limited, before deciding the main criminal appeal. ..... m-2673 of 2016 (o/m) for one year, vide judgment of conviction and order of sentence dated 12.11.2014 (annexure-p-2). ..... this petition has been filed under section 482 cr.p.c. ..... however, the learned additional sessions judge, jalandhar, has ordered the hearing of the application and main appeal on one date. ..... 10,000/-, in default thereof, to further undergo rigorous imprisonment sanjiv kumar sharma 2016.01.28 12:05 i attest to the accuracy and authenticity of this document crm no. .....
Tag this Judgment!Court : Supreme Court of India
..... under section 2(1)(i) of the payment and settlement systems act, 2007, a 'payment system' is defined as a system that enables payment to be effected between a payer and a beneficiary, involving clearing, payment or settlement service or all of them but does not include a stock exchange. ..... of the taxes specified in sub-section (2) of section 127, it shall make detailed provision in so far as such provision is not made by this act, in the form of rules, modifying, amplifying or adding to the rules at the time in force for the following matters, namely: (a) the nature of the tax, the rates thereof, the class of classes of persons, articles or properties liable thereto and the exemptions therefrom, if any, to be granted; (b) the system of assessment and method of recovery and the powers exercisable by the commissioner or other ..... , wherein again the test of 'flexibility in its utilisation and its transferability were discussed and applied in the context of rep licences' to determine whether such licences were goods or not. ..... the amount so determined shall be reduced by the amount, if any, paid or recovered from the employee for such benefit or amenity: provided that nothing contained in this clause shall apply to free food and non-alcoholic beverages provided by such employer during working hours at office or business premises or through paid vouchers which are not transferable and usable only at eating joints, to the extent the value thereof in either case does not exceed fifty rupees .....
Tag this Judgment!Court : Supreme Court of India
..... act, 1932, the central excise act, 1944, customs act, 1962, the income tax act, 1961, the recovery of debts due to banks and financial institutions act, 1993, the finance act, 1994, the securitisation and reconstruction of financial assets and enforcement of security interest act, 2002, the sick industrial companies (special provisions) repeal act, 2003, the payment and settlement systems act, 2007, the limited liability partnership act, 2008, and the companies act, ..... and operations of the corporate debtor for determining the corporate debtor, including information relating to financial position of the (i) business operations for the previous two years; (ii) financial and operational payments for the previous two years; (iii) list of assets and liabilities as on the initiation date; and (iv) such other matters as may be specified; 105 (b) receive and collate all the claims submitted by creditors to him, pursuant to the public announcement made under sections 13 and ..... the two dimensions of article 14 in its application to legislation and rendering invalid are now well these are: (i) discrimination, recognised and based invalid classification, and (ii) excessive delegation of powers; conferment of uncanalised and unguided powers on the executive, whether in the form of delegated legislation or by way of conferment of authority to pass administrative ..... to the standardization of data formats for reporting corporate, consumer and mfi data by all credit institutions and streamlining the .....
Tag this Judgment!Court : Delhi
..... since the proprietor of a business of such nature has to be assumed to be the person in charge of and responsible for the conduct of its business, she cannot escape the prosecution for the offence under section 25 of the payment and settlement systems act, 2007, it being a matter of logical inference that the instruments with instructions for crl. m.c. ..... pertinent to note here that by virtue of section 25 (5) of the payment and settlement systems act, 2007, the provisions of chapter xvii of the negotiable instruments act, 1881, apply to the dishonor of electronic funds transfer. ..... section 27 of payment and settlement systems act, 2007 is a provision similar to the one contained in section 141 of negotiable instruments act, 1881, on the subject of offences by companies, and reads thus:-" 27. ..... on the criminal complaint (cc no.1047/2015) of the second respondent, she and her said firm (shown in the array as second and first accused respectively) were summoned by the metropolitan magistrate by order dated 19.05.2015, on the accusations of offence punishable under section 25 read with section 27 of the payment and settlement systems act, 2007. ..... the petition at hand was filed seeking quashing of the proceedings in the said criminal complaint case, invoking the inherent powers and jurisdiction of this court under section 482 of the code of criminal procedure, 1973 (cr.p.c.). .....
Tag this Judgment!Court : Supreme Court of India
..... . payment for one or more pre-paid payment instruments, as defined in the policy guidelines for issuance and operation of pre-paid payment instruments issued by reserve bank of india under section 18 of the payment and settlement systems act, 2007 (51 of 2007), to a banking company or a co-operative bank to which the banking regulation act, 1949 (10 of 1949), applies (including any bank or banking institution referred to in section 51 of that act) or to any ..... to section 22 of the mines and minerals (development and regulation) act, 1957, section 34 of the bureau of indian standards act, 1986, section 34 of the telecom regulatory authority of india act, 1997, section 47 of the banking regulation act, 1949, section 26(1) of the securities and exchange board of india act, 1992, section 19 of the environment (protection) act, 1986, section 43 of the air (prevention and control of pollution) act, 1981 and section 57(1) of the petroleum and natural gas regulatory board act, 2006 ..... limited government which we have under the constitution and both the executive and the legislature have to act within the limits of the power conferred upon them under the constitution the judiciary is constituted the ultimate interpreter of the constitution and to it is assigned the delicate task of determining what is the extent and scope of the power conferred on each branch of government, what are the limits on the exercise of such power under the constitution and whether any action of any branch 587 .....
Tag this Judgment!Court : Karnataka
..... it is contended that the reserve bank of india (rbi) has issued a certificate of authorization to the petitioner for operation of semi- closed prepaid payment instruments (mobile wallet) under the payment and settlement systems act, 2007 (pss act for short), which is valid till 30th september, 2021; licence under the food & safety standards act, 2006 (fss act for short) is said to have been granted to carry on food business. ..... the learned counsel inviting the attention of the court to the object of the pss act submitted that the said act was enacted, inter alia to empower the rbi to issue directions and guidelines to system providers and regulate the various payment and settlement systems in the country. ..... the petitioner is claiming to be a mobile wallet platform governed by the payment and settlement systems, engaged in the business of (1) facilitating for business of liquor through the hip bar (2) delivery of liquor from the store to the consumer as an agent, acting on instructions from the end customer. ..... we have found that there is no legal duty cast on the commissioner or the state government exercising powers under section 14 of the act read with rule 4 of the 1975 rules to grant the licence applied for. ..... therefore, a demand and its subsequent refusal, either by words, or by conduct are necessary to satisfy the court that the opposite party is determined to ignore the demand of the applicant with respect to the enforcement of his legal right. .....
Tag this Judgment!Court : Delhi
..... on the criminal complaint (no.2265/2017) of the second respondent (the complainant), the petitioner has been summoned as accused, by order dated 25.07.2018 of the metropolitan magistrate, to answer the accusations of offence under section 25 of the payment and settlement systems act, 2007. ..... the petitioner has come up with the petition at hand invoking the inherent powers of this court under section 482 of the code of criminal procedure, 1973 (cr.p.c) to assail the summoning order primarily on the grounds that he has been wrongly shown in the complaint as director of the company he having resigned way back; the electronic clearing system was not initiated by him or with his consent; and that the responsibility for the payment was of the company accused or of mr. ..... no.4667/2018 page 1 of 2 petitioner, as also one another (vivek kumar sharma), but no payment was made in response thereto.2. ..... therefore, no case is made out for this court to intervene at this stage of the process under section 482 cr.p.c. ..... the pleas of denial and resignation will have to be tested on the basis of evidence. ..... the petition and the applications filed therewith are dismissed.5. ..... it is the allegation of the complainant that notice of demand was issued on 02.01.2017 through speed post to the said company, and to the crl. m.c. ..... the questions of fact will have to be addressed in the inquiry or trial before the trial court [rajiv thapar and ors. vs. .....
Tag this Judgment!Court : Supreme Court of India
..... in the rbi act, the banking regulation act, 1949 and the payment and settlement systems act, 2007, and also in view of the special place and role that the rbi has in the economy of the country, 50 the rbi had very wide and ample powers to take preventive and curable measures. ..... sole right to issue bank notes under section 22(1) and to issue currency notes supplied to it by the government of india and has an important role to play in evolving the monetary policy of the country, by participation in the monetary policy committee which is empowered to determine the policy rate required to achieve the ..... bank notes as may be deposited shall be rs.50,000/ ; (iv) the equivalent value of specified bank notes tendered may be credited to an account maintained by the tenderer at any bank in accordance with standard banking procedure and on production of valid proof of identity; (v) the equivalent value of specified bank notes tendered may be credited to a third party account, provided specific authorisation therefor accorded by the third party is presented ..... to the bank, following standard banking procedure and on production of valid proof of identity of the person actually tendering; (vi) cash withdrawal from a bank account over the counter shall be restricted to rs.10,000/ per day subject to an overall .....
Tag this Judgment!Court : Supreme Court of India
..... act, 1885, the bankers books evidence act, 1891, the credit information companies (regulation) act, 2005, the public financial institutions (obligation as to fidelity and secrecy) act, 1983, the payment and settlement systems act, 2007, the income 64 tax act, 1961, the aadhaar (targeted delivery of financial and other subsidies, benefits and services) act, 2016, the census act, 1948, the collection of statistics act, 2008, the juvenile justice (care and protection of children) act, 2015, the protection of children from sexual offences act, 2012 ..... court in khedat mazdoor chetna sangath v state of m p165 held that: it is, therefore, absolutely essential in the interest of justice, human dignity and democracy that this court must intervene; order an investigation determine the correct facts and take strongest possible action against the respondents who are responsible for these atrocities 166 162 ibid, at pages 618-619 (para8) 163 (1984) ..... case of mental illness the court has adequate power to examine the party or get him examined by a qualified doctor, we are of the opinion that in an appropriate case the court may take recourse to such a procedure even at the instance of the party to the lis95 furthermore, the court must be held to have the requisite power even under section 151 of the code of civil procedure ..... restrictions by a law, it will be found that all of them adopt a standard which the american supreme court has adopted in adjudging reasonableness of a legislation under .....
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