Tech and job losses is starting to show stress even in secured credit like mortgages, according to the founder of Marcellus Investment Managers.
In a move to bring down the huge pendency of cases of cheque bounce, the Bombay High Court has asked Maharashtra Government to amend laws to provide for serving warrants and summons to accused and witnesses through registered post, in addition to the procedure followed by the police machinery.
The court, which had summoned Mallya as accused today, fixed the matter for the next date after it was told by the counsel appearing for the businessman that its summoning order had been challenged before the High Court.
On April 20, the court had convicted Mallya and others in connection with bouncing of two cheques of Rs 50 lakh each under relevant sections of Negotiable Instruments Act.
A local court is likely to pronounce on May 25 its order on the quantum of sentence for beleaguered industrialist Vijay Mallya, who has been convicted in two cheque bounce cases filed against him by GMR Hyderabad International Airport Ltd.
A local court said it will pronounce on May 9 its order on the quantum of sentence for beleaguered industrialist Vijay Mallya, who was convicted in two cheque bounce cases filed against him by GMR Hyderabad International Airport Ltd.
A bill, providing for trial in cheque bounce cases at the place where the cheque was presented for clearance and not the place of issue, was re-introduced in the Lok Sabha on Monday, with an aim of helping lakhs of people suffering due to jurisdictional issues.