Articles by FCS Deepak Pratap Singh

Concept of "Actuary" & "Actuarial Risks"

FCS Deepak Pratap Singh 26 February 2022 at 08:51

As you are aware that an "Actuary "plays an important part in the insurance sector and he/she is well decorated and trusted professional. Actuaries analyse the financial costs of risk and uncertainty.

Consumer dispute resolution through mediation under Consumer Protection Act,2019

FCS Deepak Pratap Singh 26 February 2022 at 08:51

As you are aware that the Consumer Protection Act, 1986 is serving consumer fraternity since last three decades. This act has been promulgated to protect the interest of consumers from Unfair Trade Practices and fraudulent trade practices adopted by market players. The Act, 1986 is a three-tier redressal system having appellate jurisdictions.

Whether financial creditor of holding Co. considered as FC of subsidiary if subsidiary given loan security

FCS Deepak Pratap Singh 25 February 2022 at 08:58

The case essentially deals with a third-party mortgage extended by the Corporate Debtor for a loan taken by its holding company, wherein the Corporate Debtor mortgaged its property for such borrowing.

Future prospects should be paid even in case of notional income - Motor Vehicles Act,1988

FCS Deepak Pratap Singh 25 February 2022 at 08:58

In the recent case passed by the three-judge bench of the Supreme Court on 5 January 2021, the court granted future prospects even in cases of national income.

Calculation of taxable and non-taxable interests under EPF/GPF accounts

FCS Deepak Pratap Singh 24 February 2022 at 09:05

The Government has changed the rules for calculation of interest on EPF/GPF/RPF Accounts and has set threshold limit for contribution in EPF Rs. 2.50 Lakhs and GPF Rs. 5.00 Lakhs on which interest received will not be taxable.

Limitation period is 3 years even if default fall before enactment of IBC 2016

FCS Deepak Pratap Singh 22 February 2022 at 08:57

Limitation period for initiation of CIRP is 3 years from the date of default even if a default took place prior to the enactment of IBC,2016.

All about Uniform Customs and Practice for Documentary Credits (UCP)

FCS Deepak Pratap Singh 21 February 2022 at 12:06

A Documentary Letter of Credit or LC is an irrevocable, written undertaking by a commercial bank, issued at the request of the buyer (applicant) in favor of the seller (the beneficiary), to the effect that payment for certain goods or services will be made against a complying presentation of documents.

Some facts related to bank guarantees

FCS Deepak Pratap Singh 21 February 2022 at 08:40

A bank guarantee or also known as BG is a legal document issued by a bank or a financial institution to assure exporters/sellers/suppliers that they would be paid on time if the applicant/importer/buyer fails to pay the amount or fulfill the terms & conditions mentioned in the contract.

Exclusive jurisdiction of MACT in motor accident cases

FCS Deepak Pratap Singh 21 February 2022 at 08:40

In 1988 Motor Vehicle Act, 1988 was passed by the parliament of India. This act is responsible for covering all the aspects that are related to road transport vehicles. Furthermore, this act provided licensing to the conductors and the drivers as well as registration of motor vehicles.

Claim cannot be denied on the basis that vehicle has transferred

FCS Deepak Pratap Singh 17 February 2022 at 08:37

Claim cannot be denied to the seller of the vehicle on the fact that the vehicle is sold to another person unless the sale is complete and ownership of the vehicle is transferred to buyer.