Court : Mumbai
..... 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 2009. ..... 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 ..... earlier, the petitioner has obtained an authorization under section 7 of the said act of 2007. ..... the word "goods" has been defined in section 2(22) of the customs act and it includes in sub-clause (c) "baggage" and sub-clause (e) "any other kind of ..... the authorization is to operate a payment system for issue of meal and gift vouchers in the form of ..... in paragraph 30 of the said decision held thus: 30.....similarly, the expression "goods" had a very wide and comprehensive meaning and assuming delivery is necessary would include the entire telephone system as well as telephone appliances, instruments, materials, towers, exchanges, etc. ..... he also invited our attention to the maharashtra municipal corporations act, 1949 (for short the municipal corporations act ) and the bombay provincial municipal corporation (lbt) rules, 2010 (for short the ..... moveable goods and would be covered by section 2(22)(e) of the customs act. 15. .....
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. ..... 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 officers in the collection of the tax; (c) the information required to be given of liability to the tax; (d) the penalties to which ..... persons evading liability or furnishing incorrect or misleading information or failing to furnish information may be subjected; (e) such other matters, not inconsistent with the provisions of this act, as may be deemed expedient by the corporation .....
Tag this Judgment!Court : Supreme Court of India
..... 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. ..... corporate debtor against the (2) the committee of creditors shall comprise all financial creditors of the corporate debtor: provided that a financial creditor or the authorised representative of the financial creditor referred to in sub-section (6) or sub-section (6-a) or sub-section (5) of section 24, if it is a related party of the corporate debtor, shall not have any right of representation, participation or voting in a meeting of the committee of creditors: provided further that the first proviso shall not apply to a financial creditor ..... the intent to defraud any person, the adjudicating authority may impose upon such person a penalty which shall not be less than one lakh rupees but may extend to one crore rupees ..... or with malicious intent for any purpose other resolution of insolvency, or liquidation, as the case may be, the adjudicating authority may impose upon such person a penalty which shall not be less than one lakh rupees, but may extend to one crore rupees. .....
Tag this Judgment!Court : Delhi
..... 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 ..... 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:-" ..... 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. ..... circumstances, the provision contained in section 27 of the payment and settlement systems act, 2007 stands attracted. ..... 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, 2007.5. .....
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 other company or institution ..... it was further pointed out that the authority has taken appropriate pro-active protection measures, which included disaster recovery plan, data backup and availability and media response plan (slide 31). ..... . 104 part e pecuniary penalties or of varying the mode of suing for them, or of applying them when recovered, though such provisions were necessary to give effect to the general enactments of a bill.78 since this strict enforcement was found to be attended with unnecessary inconvenience , it led to the ..... it was further pointed out that the authority has taken appropriate pro- active protection measures, which included disaster recovery plan, data backup and availability and media response plan (slide 31). .....
Tag this Judgment!Court : Karnataka
..... 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. ..... 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. ..... 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. ..... 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. ..... it is illegal if any sale or purchase is made through any other mode than prescribed under the act, 1965 in karnataka. .....
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. ..... 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. vivek kumar sharma also ..... 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
..... 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 and ample powers to take preventive and curable measures. ..... from the large cash recoveries made by law enforcement agencies; and whereas, it has also been found that fake currency is being used for financing subversive activities such as drug trafficking and terrorism, causing damage to the economy and security of the country and the central government after due consideration has decided to implement the recommendations of the board; now, therefore, in exercise of the powers conferred by sub section (2) of section 26 of the reserve bank of india act, 1934 (2 of 1934) (hereinafter ..... it has been held that, while conferring such right, a statute may impose restrictions, like limitation or pre-deposit of penalty or it may limit the area of appeal to questions of law or sometime to substantial questions of law. ..... way or not at all ; this principle has also been expressed in terms of the latin maxim expressio unius est exclusio alterius , which means that when a manner is specified for doing a certain thing, then all other modes for carrying out such act are expressly excluded; and the other principle is, exercise of discretion which is a well known principle in administrative law .....
Tag this Judgment!Court : Supreme Court of India
..... 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 ..... . 374 in mithu v state of punjab375 ( mithu ), a constitution bench considered the validity of section 303 of the penal code which provided for a mandatory death penalty where a person commits murder while undergoing a sentence of life imprisonment ..... . in the course of his arguments, the learned counsel for the petitioner repeatedly asked whether the constitution would permit a law being enacted, abolishing the mode of trial permitted by the existing law and establishing the procedure of trial by battle or trial by ordeal which was in vogue in olden times in england ..... . justice sotomayor agreed with justice alito s concurrence that physical intrusion is now unnecessary to many forms of surveillance , and held that [i].n cases of electronic or other novel modes of surveillance that do not depend upon a physical invasion on property, the majority opinion s trespassory test may provide little guidance .....
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