THE BANKERS BOOK OF
EVIDENCE ACT, 1891
• It is applicable to the whole of India except J&K
• This is applicable to any “company” under section
3 of Companies Act
• This is applicable to any Corporate established by
any law such as SBI, RBI & Associates Bank
• It is applicable to any bank or any post-office
savings bank or a money order office
• Bankers books means records, data stored in a
floppy or disc or a copy of print out or any other
electronic form of data, which can be retrieved
continued
• A certified copy of any entry in bankers book will be the
evidence of prima facie evidence of existence of such entry
• No officer can be compelled to produce any documents of
the bank in any legal dispute to which the bank is not a
party unless ordered by the court.
• The judge of a court can or may order any party to inspect
and take any copies of any entry in the banker’s book for
any purpose of any proceedings within a specified time. It
would be served to the bank 03 clear days (excluding bank
holidays).The bank may offer to produce the book at the
trial or give notice of their intentions to show cause
aagainst such order within the specified time.
Continued
• The costs of anything done or to be done under the order of
a court will be the discretion of such court, who may
further order that such costs or any part thereof to be paid
to any party by the bank, if there is delay on the part of the
bank. Any such order to pay the cost by the bank may be
enforced as if the bank were a party to the proceeding.
• Under section 6 of the Act bank has a statutory right to
object to any order directing inspection of their books
though the order is made under section 91 of Code of
Criminal Procedure.
THE LIMITATION ACT,1963
• Applicable in whole of the country except J&K
• It is a law of repose, peace and justice which bars the
remedy after a lapse of a particular period by way of public
policy and expediency without extinguishing the right in
certain cases.
• If such period expires on a day when the court is closed ,
the suit or appeal may be preferred on the day when the
court reopens.
• Any appeal may be admitted after the prescribed period, if
the applicant satisfies the court that he had sufficient
reason for not preferring the application within such
period.
CONTINUED
• If a person entitled to institute a suit or application
for the execution of a decree is at the time from
which such period is to be reckoned, a minor or
insane or an idiot may institute the suit within the
same period after the disabilities has ceased. If the
disability continues up to the death of that person
his legal representative may institute the suit
within the same period after death. (Section 6)
• In computing the period of limitation for any suit,
appeal or application, the day from which such
period is to be reckoned shall be excluded
continued
• The period of limitation shall not begin to run
until the plaintiff or applicant has discovered the
fraud or the mistake or could with reasonable
diligence, have discovered it. Where a judgmentdebtor has by fraud or by force prevented the
execution of of a decree or order within the period
of limitation, the court may on application by
judgment creditor made after the said expiry
period extend the period for execution of the
decree order.
Continued
• An acknowledgement of liability in respect of any property
or right has been made in writing signed by the party
against whom such property or right is claimed, a fresh
period of limitation shall be computed from the time when
the acknowledgement was so signed. Signed means signed
either personally or by an agent duly authorised in this
behalf.
• Where payment on account of a debt or of interest on a
legacy is made before the expiration of the prescribed by
the person liable to pay the debt or legacy or by his agent
duly authorised in this behalf, a fresh period of limitation
shall be computed from the time when the payment was
made.
LIMITATION PERIODS
• For money payable for money lent- 03 years from
the date when the loan is made
• For money payable on demand- 03 years from the
date demand is made
• By a surety against the principal debtor or a cosurety- when the surety pays the creditor, when the
surety pays anything in excess of his own shares.
• To recover possession of immovable property
mortgaged and afterwards transferred by the
mortgagee for a valuable consideration- 12 years
THE TRANSFER OF PROPERTY
ACT, 1882
• Mortgage is the transfer of an interest in
specific immoveable property for the
purpose of securing the payment of money
advanced or to be advanced by way of loan
existing or future debt or the performance of
an engagement which may give rise to a
pecuniary liability.
TYPES OF MORTGAGES
• Simple Mortgage-Mortgagor bound personally to
pay mortgage money and the mortgagee will have
right to cause the mortgaged property to be sold
• Mortgage by Conditional Sale- Ostensible sale
which on default on a certain date becomes
absolute sale. On payment being made , the buyer
shall transfer the property to the seller
• Usufructuary Mortgage- Possession with the
mortgagee, who can receive the rents or profits
accruing from property
DIFFERENT TYPES OF
MORTGAGES
• English Mortgage- Mortgagor binds himself
to repay the mortgage money on a certain
date and absolute transfer is done but with a
provision of re-transfer to the mortgagor
upon payment of mortgage money.
• Equitable Mortgage
• Anomalous mortage
INDIAN REGISTRATION
ACT,1908
• Section 24- Documents executed by several
persons at different times may be presented for
registration or re-registration within 04 months
from the date of each execution. In case of delay
in presentation, a fine up to 10 times the amount
of proper registration fee, such documents shall be
accepted for registration.
• Documents executed outside India should be
presented within 04 months from the date of its
arrival in India
• Wills may be presented for registration at any time