Court : Mumbai
..... the case made out in the petition is that the 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 ..... he urged that 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 received from the reserve bank of ..... pointed out earlier, the petitioner has obtained an authorization under section 7 of the said act of 2007. ..... the terms and conditions provide that the petitioner shall redeem all the valid vouchers returned to it by the affiliated establishments by making a payment to the affiliated establishment the value of the vouchers after deducting therefrom the service ..... the submission that the sales would be inter state sales, it is submitted that the situs of the taxable event under the sales tax act would be where the transfer of the right takes place between the service providers and the subscribers ..... is stated that the affiliate establishment has agreed to accept the said vouchers at any time whenever presented by the user as a payment of the price of only ready to eat food and beverages to be served to the user and for no other purposes ..... indian law, as noticed by my learned brother, variava, .....
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. ..... in these circumstances, without issuing notice to the opposite party, the present petition is disposed of with a direction to the learned additional sessions judge, jalandhar, to decide the application of the petitioner for additional evidence before pronouncing the judgment in the main appeal. ..... however, the learned additional sessions judge, jalandhar, has ordered the hearing of the application and main appeal on one date ..... it is stated that if the application of the petitioner for additional evidence is not decided before the decision of main appeal, his valuable right of challenging the said order will be defeated. ..... 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. ..... 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). ..... for issuance of direction to the learned additional sessions judge, jalandhar, to decide the application for additional evidence, filed in cra no .....
Tag this Judgment!Court : Supreme Court of India
..... note of the nature of business operation of the appellant herein and the manner the same is statutorily regulated by the payments and settlement systems act, 2007 and the rules framed thereunder, we revert to the issue that has to be answered in the present case, namely, whether these sodexo meal vouchers are goods within the meaning of section 2(25) of the act. ..... 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 ..... advert to the relevant provisions of the act, it would be worthwhile to mention that in order to carry on the aforesaid business, the appellant is compulsorily required to obtain necessary approval/ authorisation from the reserve bank of india (rbi), which requirement is spelt out from section 7 of the payment and settlement systems act, 2007. ..... regulated by rbi guidelines: as already pointed out above, without the sanction/ authorisation of the rbi to operate such a payment system under the payment and settlement systems act, 2007, nobody can operate such a system, as the purpose of the said act is to regulate the payment and settlement thereof by means of 'paper based vouchers'. ..... order to have the stock of all the relevant provisions of this act, another provision which needs to be noticed is section 152p, which relates to the provisions relating to .....
Tag this Judgment!Court : Supreme Court of India
..... the code seeks to provide for amendments in the indian partnership 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, 2013.5. ..... that (a) a default has occurred and the application under sub-section (2) is complete, and there is no disciplinary proceedings pending against the proposed resolution professional, it may, by order, admit such application; or (b) default has not occurred or the application under sub-section (2) incomplete or any disciplinary proceeding is pending against the proposed resolution professional, it may, by order, reject such application: provided that the adjudicating authority shall, before rejecting the application under clause (b) of sub-section (5), give a notice to the applicant to rectify the defect in his application within .....
Tag this Judgment!Court : Delhi
..... the complainant has claimed that a statutory notice of demand was sent on 28.03.2015, but no payment was made within the requisite period, this according to the complainant, constituting offence under section 25 of payment and settlement systems act, 2007 ..... 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. ..... 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 ..... 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 ..... these circumstances, the provision contained in section 27 of the payment and settlement systems act, 2007 stands attracted .....
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 ..... the aadhaar project and act are ultra vires on the following grounds: i the project and the act violate the fundamental right to privacy; 34 part c ii the architecture of the aadhaar project enables pervasive surveillance by the state; iii the fundamental constitutional feature of a limited government - which is the sovereignty of the people and limited government authority- is changed completely post aadhaar and reverses the relationship between the citizen and the state; iv due to the unreliability of biometric technology, there are authentication failures which lead to ..... this behalf by that government, or (b) any person who has given notice of not less than sixty days, in the manner prescribed, of the alleged offence and of his intention to make a complaint, to the central government or the authority or officer authorised as aforesaid.8) section 43 of the air (prevention and control of pollution) act, 1981 (1) no court shall take cognizance of any offence under this act except on a complaint made by (a) a board or any officer .....
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 arguments advanced on behalf of the petitioner that the first part of the petitioners business is regulated by the rbi under the pss act and the rbi has issued the authorization to provide a payment system in respect of liquor in terms of sections 6 and 7 of the pss act cannot be a ground to escape from the restrictions / regulations to which the liquor trade is subjected to, by the state. ..... firstly, cancellation of letter of authority without issuing show-cause notice is against the principles of natural justice and is void ab initio. .....
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. ..... 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 petitioner through counsel, on being asked, took the position that notice of demand dated 02.01.2017 was never received. ..... therefore, no case is made out for this court to intervene at this stage of the process under section 482 cr.p.c. ..... in absence of any irrefutable proof contrary to the allegations in complaint, the averments made by the petitioner cannot be accepted at their face value. ..... no.4667/2018 page 1 of 2 petitioner, as also one another (vivek kumar sharma), but no payment was made in response thereto.2. .....
Tag this Judgment!Court : Supreme Court of India
..... this court held that, in view of the provisions contained 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. ..... ultra vires section 26(2) and sections 7, 17, 23, 24, 29 and 42 of the reserve bank of india act, 1934; (ii) does the notification contravene the provisions of article 300a of the constitution; (iii) assuming that the notification has been validly issued under the reserve bank of india act, 1934 whether it is ultra 4 vires articles 14 and 19 of the constitution; (iv) whether the limit on withdrawal of cash from the funds deposited in bank accounts has no basis in law and violates articles 14, 19 and 21; (v) whether the implementation of the impugned notification(s) suffers from procedural and/or substantive unreasonableness and thereby violates articles 14 and 19 and, if ..... the bank also proposed a draft scheme for the implementation of the recommendation.2) that the consultations between the central government and the bank began in february, 2016; however, the 104 process of consolidation and decision making were kept confidential.3) that the bank and the central government were together engaged in the finalization of new designs, development of security inks and printing plates for the new designs, change in specifications of printing machines and .....
Tag this Judgment!Court : Supreme Court of India
..... the right to information act, 2005, the indian easements act, 1882, the indian penal code, 1860, the indian telegraph 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 and the information technology act ..... the rights relating to life, liberty, equality and dignity of the individual guaranteed by the constitution or embodied in the international covenants and enforceable by courts in india; (e) (f) the international covenant on civil and political rights and the international covenant on economic, social the general and cultural rights adopted by the 16th assembly of december, 1966 and such other covenant or xxx xxx xxx international covenants means the united nations on 36 convention adopted by the general assembly of the united nations as the central government may, by notification, specify; in terms of section 12(f), one important function of the ..... 481 (para64) 237 part q having noticed this, the evolution of article 21, since the decision in cooper indicates two major areas of change. .....
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