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Article on bill of exchange under Banking Law ...

OVERVIEW Bill of exchange is a type of negotiable instrument in which a written, unconditional order made by one party (drawer) is transferred to another (the drawee) to pay a certain sum of money, either immediately or on a fixed date as mentioned in the bill, for payment of goods or services received. Drawee by […]

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Promissory Note ...

Promissory Note is the written note made by the payer which contains the promise to pay a certain amount of money on a specified date or on demand to the payee or the bearer of the note. In short it is promise in written form to pay the debt. Requirements for a promissory note: The […]

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Sarfaesi ...

SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002 The Sarfaesi Act, 2002 basically was designed to protect the interests of the bank as a creditor. This act provides to protect only secured creditors. This is a powerful tool in the hands of the bank for recovering non-performing assets (NPA). This […]

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