Showing posts with label finance. Show all posts
Showing posts with label finance. Show all posts

Wednesday, 18 September 2019

Most Effective Ways To Overcome Rectification Deed - All You Need To Know

What is Deed of Rectification

Amendment or Confirmation deeds are otherwise called Rectification deeds. They are entered between two parties to redress any blunders made in a past deed. These blunders may incorporate a typing mistake, an incorrectly spelled name, a blunder in the property depiction, or some other mistake in the execution of the reports. These oversights can be later redressed through a Rectification or Confirmation deed.
Following are the conditions under which rectification deeds are made
(a) The mistake must be real.
(b) It must be coincidental, not deliberate.
(c) All the parties must consent to the rectification thereof.

Section 17 of the Indian Registration Act, 1908—-

The Indian Registration Act, 1908 governs Rectification deeds. As indicated by Section 17 of the Act, any deed affirming any interest for an immovable property should be enlisted. The affirmation might be given either by passive consent, by impediment, or by deeds.  Rectification deeds attract stamp duty. If the main document is registered or to be registered, then it mandatory for the corresponding confirmation deed to also get registered.

The content of a Deed of Rectification

a) Name and address of the parties involved.
b) Details of the original deed and description of the rectification to be made.
c) Must have clear and concise in language to avoid future complications.
d) Should not alter the scope of the original document or violate any regulations.
e) Must not deprive the party of their rights.

The procedure involved in Rectification deeds

The parties must first mutually agree to the deed and then proceed to a duly executed document.
The parties are required to pay rectification deed registration charges and stamp duty as per the laws of the State. Charges are Rs/-100 for each.
The deed then has to go to the sub-registrar’s office where the original deed has been duly registered.
If by any chance there is an error of any kind in the rectification deed, a supplementary rectification deed shall be executed by paying stamp duty and registration charges, provided that the error must be genuine, inadvertent and not intentional in nature. The parties must agree to the same thereof.
A rectification deed can rectify only factual errors and not those which involve errors of law such as,
a)  Deficient stamp duty
b) A jurisdictional error of Sub-Registry office
c) The basic character of the transaction e.g. Sale transaction cannot be corrected as Gift
d) It is meant to rectify defects in the original deed NOT to change the nature of the transaction OR Intention of the parties involved
In case the parties involved do not agree to the said rectification or amendment of the documents executed, the aggrieved party may file a suit under Section 26 of the Specific Relief Act, 1963. The court, by virtue of its power, can direct the rectification of an instrument if the deed does not express any real intention of the parties.

Format

DEED OF RECTIFICATION

This DEED OF RECTIFICATION is executed at                                                                        this the             day               2004  between
s/o                                                      residing at

hereinafter referred to the RECTIFIER/VENDOR which term includes  its successors and assigns of the ONE PART;


AND


s/o                                     residing at


hereinafter referred to as PURCHASER  which term includes his heirs, executors, administrators, representatives and assigns of the OTHER PART

WHEREAS the property more fully described in the Schedule hereunder was sold by the Rectifier/Vendor in favour of the purchaser herein in and by sale deed dated and registered as Document No. of Book1 volume filed at pages to on the file of the Sub Registrar of            hereinafter referred as the Principal Deed.

WHEREAS in the Principal Deed dated                 in line     of page No.      and inline
of page     the Survey number of the property was wrongly typed as             instead of              .

WHEREAS this typographical error has come to the knowledge of the above said Purchaser and requested the Rectifier/Vendor to rectify the same.


NOW, THIS DEED OF RECTIFICATION WITNESSETH AS FOLLOWS:

That  is the Principal Deed dated      in line       of page No.    and in line     of page No.   the Survey number  of the property conveyed is wrongly typed as       is rectified as
by this Deed of Rectification.

That as rectified as aforesaid, the Principal sale Deed shall remain in full force and effect.

That no consideration has been received by the RECTIFIER/VENDOR for executing this Deed of Rectification.

SCHEDULE OF PROPERTY
(As in the Principal Deed)


SCHEDULE OF PROPERTY
(Rectified by this  deed of Rectification)
Present Market Value of the Property is Rs.

In Witness whereof the RECTIFIER/VENDOR and the  PURCHASER  have set their hands on the day and month year first above written in the presence of


WITNESS                                                                               RECTIFIER/VENDOR




                                                                                                     PURCHASER

No Time Limit—-

There is no time bar for the execution of a rectification or correction deed. At any point in time, when a mistake is discovered, a rectification deed may be executed.
Hence, these deeds are a kind of correction templates which give ample room for the parties to understand and change any error, be it a wrongly spelled name or an error in typing, which might have occurred accidentally.

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Monday, 16 September 2019

Ten Little Tricks To Know About Interlocutory Application In India And Its Format

Interlocutory is a legal term which essentially refers to an order, sentence, decree, or judgment, given in an intermediate or transitional stage between the beginning and end of a cause of action, used to give an impermanent or temporary decision on an issue. Along these lines, an interlocutory order isn’t final and isn’t liable to immediate appeal.

What is the interlocutory application

An interlocutory application meaning is an application which is moved in the primary appeal. It is normally documented when you request some urgent relief or to convey certain new facts to the learning of the court. In the event that the supreme court order says ‘interlocutory application disposed of”, it implies that you had documented an application looking for some relief, and in the wake of hearing you on the application, the court has passed an order in your application.
Interlocutory Petition mentioned in the Civil Rules of Practice, Rule 2 (j) states ” application to the court for any suit, appeal or proceedings already instituted in such court, other than a proceeding for execution of a decree or order.” It is fascinating to take note of that “application” is characterized in Rule 2 (c) that incorporates execution application, execution petition, and interlocutory application, both written and oral.

Interlocutory Application Format:-

INTERLOCUTORY APPLICATION
BEFORE THE APPELLATE TRIBUNAL FOR ELECTRICITY
IA NO. ______OF 200
In
Appeal/Original Petition No. ________of 200 .
CAUSE TITLE
Set out the Appeal No. _________________of 200
Appeal / Petition short cause title
Set out the 1. Appeal No.____________200
Cause Title – Interlocutory Application
Petition for stay/direction/dispense with/condone delay/calling records
The applicant above-named state/s as follows :
1. Set out the relief (s)
2. Brief facts
3. The basis on which interim orders prayed for
4. The balance of convenience, if any :
(All interlocutory applications shall be supported by an affidavit sworn by the Applicant/on its behalf and attested by a Notary Public).
DECLARATION
The applicant above named hereby solemnly declare that nothing material has been concealed or suppressed and further declare that the enclosures and typed set of material papers relied upon and filed herewith are true copies of the originals or fair reproduction of the originals or true translation thereof.
Verified at_________dated at _______this day __________of _______200 .
Counsel for Applicant                                                                                                                                                                                                        Applicant
VERIFICATION
I __________________(Name of the applicant) S/o.W/o.D/o. (indicate any one, as the case may be ) ___________age ____________working as __________ in the office of _______________resident of _______________ do hereby verify that the contents of the paras _____________to ___________are true to my personal knowledge / derived from official record ) and para _________ to _______are believed to be true on legal advice and that I have not suppressed any material facts.
Date :
Place :
                                                                                                                                                     Signature of the Appellant/Petitioner or authorized officer

The Code of Civil Procedure with its Rule 3(9) defines an Original Petition as a petition by which procedures are founded in a court other than a suit or appeal or proceeding in the execution of a decree or order.
This elucidates and clarifies the distinction between an original appeal to and an Interlocutory order as
  • The original appeal of is identified with the purpose of the start of a dispute while the interlocutory request is recorded within the main appeal.
  • The original petition establishes the procedures while the interlocutory petition looks for interim relief.
  • Interlocutory petitions can be named as a type of incidental procedures dissimilar to original appeal to and are recorded to support the principle/main petitions.
  • Interlocutory petitions look for relief amid the pendency of the main appeal to and can be discarded before the final judgment.
In T.V. Satyanarayana v. Subba Aruna Meenakshi, the question into thought was whether an appeal lies against the order made by the family court on an application exhibited under section 24 of the Hindu Marriage Act allowing interim maintenance under Section 19 of the Family Courts Act? It was held that  Interlocutory Application “means an application to the Court for any suit, appeal or proceeding already instituted in such Court other than an application for execution of the decree or setting aside the decree or last order made in such suit, appeal or proceeding.” An application under Section 24 of the Hindu Marriage Act squarely falls inside the significance of the words “Interlocutory Application,” as it could be made just in the primary proceeding under either provision of the Hindu Marriage Act. Any order passed on such an application would unquestionably be an interlocutory request.
The Supreme Court while thinking about the maintainability of appeals against judgment and interlocutory orders, considered a progression of decisions of various Courts rendered regarding the matter, held that each interlocutory order can’t be viewed as a judgment yet just those orders would be judgments which decide matter in hand or influence indispensable and important rights of the parties and which work on the serious injustice to the party concerned.
An Interlocutory Petition begins with a point of view to shield the finishes of equity from being vanquished when the Original Petition can’t address the prompt conditions. Interlocutory Applications or Interlocutory Petitions are recorded to help the primary appeal for an interlocutory alleviation in the midst of pendency of the main Petition. The purpose of this article is to mostly feature the interlocutory applications and different case laws to imply the statement.
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10 Latest Developments In Change Your Name After Your Wedding In India?

Introduction

Anywhere in the world, Marriage is a life-changing decision. It places responsibilities on the husband as well as on wife. Whereas, in India, the responsibilities of the Husband is little more than of wife. While she has to leave her parents home and start living with the Husband’s family, she is also supposed to change her name. Indian law does not mandate name change for anyone. It is upon total discretion of the parties to change their name or not.  Name changing is a simple procedure. And it is common for all the states.
Before moving further, it must be noted that; Law allows a person to change his/her name only once during the lifetime. So before taking such decisions, one must be sure about it.

Registration of Marriage in India

Before applying for the name change, a person needs to acquire a marriage certificate. For that, registration of marriage is required. In short, registration of marriage provides a Marriage Certificate. You can download the form from the state government’s site and submit it at Sub Registrar’s Office. You need to attach photocopies of the documents like PAN card, AADHAR card etc., whose list you can find on the government’s Website. Once the marriage registration is complete, you will get the marriage certificate.

Procedure to Change Name After Marriage in India

After the Marriage Certificate, the procedure is straightforward but it may take some time. As mentioned above, it is not mandatory by law and you can change your first name only once.
  • Making Of Affidavit

An affidavit is a written statement confirmed by Oath and Affirmation. For the name change, you need to create an affidavit with your detail and your wish to change the name. You need to provide details like your maiden name, proposed new name, husband’s name, and the new address. Also, with the affidavit, you need to supply the copy of the Marriage certificate. Moreover, you need to self attest the document with your recent photographs. Once the affidavit is complete, Print the document on an Rs. 10 stamp paper.
  • Notarize the Affidavit

After printing the Affidavit, you need to get it Notarize. You can visit a Notary to get this done. A notary is a person who has the authority of government to witness signature on documents. In case a person is living abroad, the same can be done from the embassy. Once the affidavit is notarized, you are almost done with the name change.
  • Publication of Name Change

After the Notarize, you need to get proof of your name change. Means, you need to get a statement from the third party stating that you have changed your name. Even if the statement is from the third party, you need to submit proclamation of the same yourself. For this, one has to do the following two things:-
  1. Place an Advertisement– Publish an Ad in two daily locals regarding the same, that you have changed your name in the presence of the notary. Whereas one Ad should be in the local language daily and others in the English language. Every newspaper has designated columns for such kind of Ads. Once done, keep a few copies of such Ads for future reference.                                                                                                                                                                                                                                Sample-                                                                                                                                                                                                                                    “ I, (insert your maiden full name) married to (insert your husband’s full name), on (insert wedding date in DD-MM-YYYY format) residing at (insert your current permanent address) have changed my name to (insert your new name) with Affidavit dated (insert date of affidavit) sworn before Notary (insert name and city of the notary)”                                 
  2. Gazette Publication– You need to make an announcement of name change in the Gazette of India. Gazette of India is an official government journal and it is published by the government. However, you need to submit an application form to the Department of Publication, which works under the Ministry of Urban Development. Moreover, you need to attach the Affidavit of the name change with the Application.
At this point, you can notify all the institutions, such as your bank, college, and workplace, that your name has changed after marriage.

Conclusion

Changing name after marriage in India is a simple process and it has its own benefits. Name changing can be an exciting and important part of the marriage. But one must do it the right way to avoid headaches. One must take help of a family law attorney while changing the name. Name change after the marriage has several effects. Name change after marriage helps in the documentation. While purchasing a joint property, it is easy to prove the Husband-wife relationship with a common surname with husband. Also, it is less complicated for children to write two surnames after the marriage or choosing the one.
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Tuesday, 10 September 2019

How Much Do You Know about Rejection Of Plaint Under Civil Procedure Code?

Introduction

The Civil Procedure Code (CPC) deals with the procedure and dealing of the civil suits. Under the CPC nowhere has it been defined that what is ‘rejection of plaint’ but grounds on which a plaint is rejected are mentioned under Order 7 Rule XI. It mentions four grounds on which a plaint can be rejected.
Rejection of plaint- the section specifies the grounds under which the plaint can be rejected:—
(a) where it does not disclose a cause of action;
(b) where the relief claimed is undervalued, and the plaintiff, on being required by the Court to correct the valuation within a time to be fixed by the Court, fails to do so;
(c) where the relief claimed is properly valued, but the plaint is returned upon paper insufficiently stamped, and the plaintiff, on being required by the Court to supply the requisite stamp-paper within a time to be fixed by the Court, fails to do so;
(d) where the suit appears from the statement in the plaint to be barred by any law. [1]

Grounds on which Plaint is Rejected

  1. Where it does not disclose the cause of action- if the plaintiff fails to mention the facts which give him right to seek relief against the defendant and the necessary facts that are required to prove wrong done by a defendant against the plaintiff, then in such cases the plaint can be rejected. [2]
  2. Where the relief claimed by the plaintiff is undervalued, or fails to correct the same on the direction of the court within a given period.
  3. Where plaint is properly valued and relief under it but the plaint gets rejected on the ground of insufficient papers or papers not properly attested or stamped, where the plaintiff does not present the plaint in accordance to the Court-fees Act.
  4. Where the suit is time-barred.
  5. In every suit, a duplicate file of the plaint needs to be filed by the plaintiff. If this requirement is not fulfilled, the plaint is rejected.
  6. Where the plaintiff fails to act in accordance with Rule 7 and Rule 9, the plaint can be rejected.

Provision of Rejection of Plaint under the CPC

  1. Procedure for rejection of plaint- “for rejection of plaint the judge shall record order with valid reasons for the passing of such order. Recording reasons is very important when the judge rejects any plaint.”[3]
Therefore, an order needs to be recorded by the judge in case of rejection of the plaint. Reasons for such rejection should also be noted by the judge.
  1. Where rejection of plaint does not preclude the presentation of fresh plaint— “The rejection of the plaint on any of the grounds hereinbefore mentioned shall not of its force preclude the plaintiff from presenting a fresh plaint in respect of the same cause of action.” [4]
If the plaint is rejected on any of the grounds mentioned under Order 7 Rule XI shall not preclude the plaintiff from presenting a fresh plaint in respect of the same cause of action.

Modes of Rejection of Plaint

  1. At any stage of the proceeding, the defendant can file an application which can be in the form of an interlocutory application.
  2. Under Order VII Rule 1, Suo Moto rejection can be done. A Suo Moto rejection means that if the conditions above stated are fulfilled, the court can by its own motion try a suit.

Important points to be noted

  1. The plaint cannot be partly rejected and partly accepted. It is rejected as a whole. [5]
  2. Where an application under Order 7 Rule XI is filled with a mala fide intention to cause delay to the proceeding, it is rejected. [6]
  3. The order rejecting a plaint is a decree by a court and hence is appealable. [7]

Conclusion

Civil Procedure Code, 1908 is one of the most important document. It provides a detailed procedure of the civil suits. Comprehensive understanding of each and every provision is an important element. Rejection of plaint is done under certain grounds which are enumerated under Order 7 Rule XI. In the provision, the word ‘shall’ makes it mandatory for the court to reject the plaint when any of the points are satisfied. It is also very essential for the court to record the reasons for any order that it passes in order to reject the plaint. Moreover, if a plaint of the plaintiff is rejected by the court, it doesn’t imply that it cannot bring a suit on the same subject matter again. He is not barred from bringing a subsequent suit on the same subject-matter.
Citation-
[1] Order 7 Rule XI, Civil Procedure Code, 1908.
[2] S.M.P. Shipping Services Pvt. Ltd. V. World Tanker Carrier Corporation (2000) Bom 34.
[3] Civil Procedure Code, 1908, Order 7, Rule 12.
[4] Civil Procedure Code, 1908, Order 7, Rule 13.
[5] Kalepur Pala Subrahmanyam v. Tiguti Venkata. (1971) AP 313.
[6] Sopan Sukhdeo Sable V. Asstt. Charity Commr. (2004) SC 569.
[7] Bibhas Mohan Mukherjee v. Hari Charan Banerjee (1961) Cal 491 (FB).

Sunday, 8 September 2019

The Ultimate Revelation Of Power Of Attorney In India

Power of attorney is a legal document that authorizes one person to represent and take decisions on behalf of another, generally on matters related to property, finance, banking, or other matters of legal significance. It is typically executed when the individual on whose behalf the actions are taken is out of the country or is rendered incapable of taking such decisions because of illness or old age. The person who gives a power of attorney is known as the ‘Donor,’ whereas the person to whom a power of attorney is given is known as ‘Donee.’

Power of Attorney Act of 1882:

The power of attorney Act of 1882 lays down certain provisions with regards to the legality and validity of appointing a power of attorney. Section 1(A) of the Act defines power of attorney as:
1A. In this Act, “power-of-attorney” includes any instrument empowering a specified person to act for and in the name of the person executing it.[1]
A power of attorney is, therefore, a legitimate written instrument authorizing one individual to carry out actions and take decisions on behalf of the other, when the latter is indisposed or out of the country.

Indian Contract Act of 1872:

The relationship between a donor and donee of a power of attorney is equivalent to that of an agent and principal as mentioned under the Indian Contract Act of 1872. Section 182 of the Indian Contract Act lays down the definition of Agent and Principal
182. An “agent” is a person employed to do any act for another or to represent another in dealing with third persons. The person for whom such act is done, or who is so represented, is called the “principal.”[2]
It is essential for a power of attorney to be valid that the donor and donee, otherwise known as the principal or agent are of sound mind and above the age of 18. This restriction has a limitation. A married woman is capable of executing a power of attorney, even if she is a minor. [3]

Registration of a Power of Attorney:

It is important to get a power of attorney registered. Depending on its type, a power of attorney can fall under section 17 or section 18 of the Registration Act of 1908. [4]Even though it is not mandatory to get all power of attorney registered, it is advisable to do so. Registered power of attorney serves as evidence and makes it easier to prove the principal and agent relationship, thereby offering an easy solution to potential disputes relating to liability.

Types of Power of Attorney:

  • General Power of Attorney: A general power of attorney is executed in a general context. This document gives the agent greater authority in executing actions on the principal’s behalf. A general power of attorney authorizes the agent to perform general tasks. There should not be any mention of a specific action in a general document. The amount of trust factor involved in the execution of a general power of attorney should also be greater than the specific power of attorney. General authorizations can be given on matters of property, banking, taxation, legal disputes, and so on.
  • Specific Power of Attorney: Specific Power of Attorney or special power of attorney, on the contrary, is executed for a specific purpose. The authority given by the principal to the agent is therefore significantly lesser. A specific power of attorney is given out for completing a particular action, and as soon as the action is finished, a power of attorney comes to an end. A principal may have multiple specific power of attorney.
  • Durable Power of Attorney: A durable power of attorney continues even after the death of the principal. It should be expressly mentioned in the power of attorney deed.
  • Non-Durable Power of Attorney: When it is not mentioned in the power of attorney deed that it should be continued even after the principal’s death, it is by default non-durable power of attorney deed.

Revocation of a Power of Attorney:

A power of attorney may also be revoked or canceled in most of the cases.
  • Under section 201 of the Indian Contract Act, an agency can be terminated when the principal revoked his/her authority or when the agent renounces his/her business of the agency. It also mentions that an agency can be revoked if the principal or agent dies or becomes of unsound mind. [5]
  • Section 202 of the Indian Contract Act talks about situations when agency cannot be revoked ‘Where the agent has himself an interest in the property which forms the subject matter of the agency, the agency cannot, in the absence of an express contract, be terminated to the prejudice of such interest.’[6]

Conclusion:

A power of attorney can, therefore, be given by anyone. It is, however, most commonly used for property matters of non-residential Indians. A power of attorney deed consists of the name and addresses of the donor and the done, the purpose of giving the power of attorney, the powers and authority that are granted to the agent and the date of incorporation and termination.
This is all about the Power of Attorney in India in brief.
[1] Power of Attorney Act (1882) section 1(A)
[2] The Indian Contract Act (1872) section 182
[3] Power of Attorney Act (1882) section 5
[4] The Registration Act (1908) section 17 and 18
[5] The Indian Contract Act (1872) section 201
[6] The Indian Contract Act (1872) section 202