Court : Mumbai
..... 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 ..... act ) and the bombay provincial municipal corporation (lbt) rules, 2010 (for short the lbt rules ). 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 india. he submitted that under both the octroi ..... 10. as pointed out earlier, the petitioner has obtained an authorization under section 7 of the said act of 2007. the authorization is to operate a payment system for issue of meal and gift vouchers in the form of paper based vouchers. the petitioner has annexed the application form for the said vouchers. on the .....
Tag this Judgment!Court : Punjab and Haryana
..... appeal. 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. 10,000/-, in default thereof, to further undergo rigorous imprisonment .....
Tag this Judgment!Court : Supreme Court of India
..... purpose and all related matters. 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. the ..... the hands of the appellant. accordingly, the certificate issued to the appellant contains the following terms and conditions: the payment system provider shall adhere to the provisions of the payment and settlement systems act, 2007, regulations issued thereunder and the directions/guidelines issued by the reserve bank of india. the authorization is ..... 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'. an insight into the policy .....
Tag this Judgment!Court : Supreme Court of India
..... 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. the code seeks to achieve the above objectives. (emphasis in ..... permissibility of withdrawal post admission of a cirp application. it was observed by the committee that there have been instances where on account of settlement between the applicant creditor and the corporate debtor, judicial permission for withdrawal of cirp was granted [lokhandwala kataria construction pvt. ltd. v. ninus ..... a result of financial debts being repaid. approximately 3300 cases have been disposed of by the adjudicating authority based on out-of-court settlements between corporate debtors and creditors which themselves involved claims amounting to over inr120,390 crores. eighty cases have since been resolved by resolution .....
Tag this Judgment!Court : Delhi
..... 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. it appears that in the said criminal complaint, the second respondent (the complainant) had, inter alia, mentioned the name of one manish kumar ..... said relative. the fact, however, remains that she is the proprietor of the business. in these circumstances, the provision contained in section 27 of the payment and settlement systems act, 2007 stands attracted. 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. no.555/2016 page 8 of 11 .....
Tag this Judgment!Court : Supreme Court of India
..... assets. it is submitted that, though 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 ..... price index. therefore, anything that may pose a threat to or have an impact on the financial system of the country, can be regulated or prohibited by rbi, despite the said activity not forming part of the credit system or payment system. the expression management of the currency appearing in section 3(1) need not necessarily be confined to ..... anything repugnant in the subject or context, xxxx [a(ii)]. the bank means the reserve bank of india constituted by this act; [a(iii)]. bank for international settlements mean the body corporate established with the said name under the law of switzerland in pursuance of an agreement dated the 20th january, 1930, signed at the hague;]. [a .....
Tag this Judgment!Court : Supreme Court of India
..... 2 of 1934), to hold or accept deposit from public. 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 other company or institution. payment as ..... in many cases. another survey502 of 80 households conducted in hyderabad finds that despite the introduction of technology-intensive authentication and payment systems, a significant number of those vulnerable and dependent on public distribution system (pds) for food grains are failing to realise their right to food. the survey revealed that among 80 surveyed .....
Tag this Judgment!Court : Karnataka
..... other services. 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 ..... is the contention of the petitioner that the transaction effected by it is not sale of liquor. 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 .....
Tag this Judgment!Court : Supreme Court of India
..... 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 ..... 28 freedom to associate with those of one s choice and those with common objectives. the requirement of privacy in matters concerning residence and settlement is too well-known to require elaboration. finally, it is not possible to conceive of an individual being able to practice a profession or ..... accidental or incidental]. or other reasonably foreseeable risks; (viii) openness: a data controller shall take all necessary steps to implement practices, procedures, policies and systems in a manner proportional to the scale, scope, and sensitivity to the data they collect, in order to ensure compliance with the privacy principles, information .....
Tag this Judgment!Court : Punjab and Haryana
..... credit information companies (regulation) act 93. disaster management act 94. government securities act 95. the petroleum and natural gas regulatory board act 96. payment and settlement systems act 97. warehousing (development and regulation) act 98. airports economic regulatory authority of india act 99. collection of statistics act 100. national green ..... as a victim which has essentially characterized crimes on universally- accepted principles. the acceptability of this principle was the genesis of criminal justice system with state dominance and jurisdiction to investigate and adjudicate the crime . for long, the criminal law had been viewed on a dimensional ..... -790-ma-2010 final -6- legislative history and emerging principles of criminal jurisprudence:- international scenario: (7).the universalist views on criminal justice system emphasize on the norms collectively recognized and accepted by all of humanity. the internationally accepted norms whereunder an individual s criminal act(s) is .....
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