Court : Delhi
..... the code seeks to provide for amendments in the indian partnership act, 1932, the central excise act, 1944, customs act, 1962, 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 ..... 9674/2017 page 6 of 37 2003 and omission of sections 253 to 269 of the companies act, 2013; now, therefore, in exercise of the powers conferred by the sub-section (1) of the section 242 of the insolvency and bankruptcy code, 2016 (31 of 2016), the central government hereby makes the following order to remove the above said difficulties, namely:-"1. ..... , inter alia, provides for scheme of revival and rehabilitation, sanction of scheme, scheme to be binding and for the implementation of scheme under section 261 to 264 of the companies act, 2013; and, whereas, sections 253 to 269 of the companies act, 2013 have been omitted by eleventh schedule to the insolvency and bankruptcy code, 2016; and, whereas, clause (b) of section 4 of the sick industrial companies (special provisions) repeal act, 2003 has been substituted by the eighth schedule to the code, which provides that any appeal preferred to the appellate authority or any reference made or inquiry .....
Tag this Judgment!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 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 bank of india. ..... as 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 charges. ..... before we part with the judgment, we must note here that the issue whether the petitions can be entertained in view of the availability of the remedy of appeal has been already decided by the order dated 2nd september 2013 and, therefore, we have not dealt with the said issue. 23. ..... the supreme court of appeals of west virginia, in west virginia in state of west virginia v. .....
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. ..... 608 of 2014, titled as atul sood versus cholamandalam investment and finance company limited, before deciding the main criminal appeal. ..... 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. ..... 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
..... having taken 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. ..... , 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: provided that no rules shall be made by the corporation in respect of any tax coming under clause (f) of sub-section (2) of section 127 unless the state government shall have ..... we, thus, allow these appeals and set aside the judgment of the high court by holding that sodexo meal vouchers are not 'goods' within the meaning of section 2(25) of the act and, therefore, not liable for either octroi or lbt. ..... commissioner of central excise and customs, cochin[3]. .....
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. ..... contained in section 11-b of the industries (development and regulation) act, 1951 (65 of 1951), the central government may, for the purposes of this act, by notification and having regard to the provisions of sub-sections (4) and (5), classify any class or classes of enterprises, whether proprietorship, hindu undivided family, associations of persons, co-operative society, partnership firm, company or undertaking, by whatever name called, (a) in the case of the enterprises engaged in the manufacture or production of goods pertaining to any industry specified in the first schedule to the industries (development and regulation) act, 1951 (65 of 1951), as (i) a micro enterprise, where the investment in plant and machinery does ..... a creditor may appeal to the adjudicating authority against the decision of the liquidator accepting or rejecting the claims within fourteen days of the receipt of such decision. .....
Tag this Judgment!Court : Delhi
..... 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 ..... 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 ..... 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 act) or to any other company or institution ..... (2) nothing contained in sub-section (2) or sub-section (5) of section 28 and clause (b) of sub-section (1), sub-section (2) or sub-section (3) of section 29 shall apply in respect of any disclosure of information, including identity information or authentication records, made in the interest of national security in pursuance of a direction of an officer not below the rank of joint secretary to the government of india specially authorised in this behalf by an order of the central government: provided that every direction issued under this sub- section, shall be reviewed by an oversight committee consisting of the cabinet secretary and the secretaries to the government of india in the department of legal affairs and the department of electronics and information technology .....
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 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. ..... 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. ..... 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. .....
Tag this Judgment!Court : Delhi
..... 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 ..... 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. ..... no case is made out for this court to intervene at this stage of the process under section 482 cr.p.c. ..... the questions of fact will have to be addressed in the inquiry or trial before the trial court [rajiv thapar and ..... absence of any irrefutable proof contrary to the allegations in complaint, the averments made by the petitioner cannot be accepted at their face ..... page 1 of 2 petitioner, as also one another (vivek kumar sharma), but no payment was made in response thereto.2. ..... the petition and the applications filed therewith ..... the pleas of denial and resignation will have to be tested on the basis .....
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. ..... under sub-section (3) of section 8 thereof, an appeal was provided before the central government against the refusal of the rbi to pay the value of the notes.285. ..... above, the act authorises it to carry on and transact businesses, as enlisted under section 17 of the act; confers under section 22, sole and exclusive right on the bank to issue bank notes in india, except in relation to notes of denomination, rs.1; recognises under section 26 (1) that every note issued by the bank shall be a legal tender; vests with the central board of the bank the power to recommend to the central government to declare any series of bank notes of any denomination, to cease to be legal tender, under section 26 (2) of the act; prohibits under section 38 any money from being put into circulation by the central government, except through the bank. .....
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