Burden of Unsustainable Debt" and imprisonment u/s 138 of Negotiable Instrument Act

 Less Examined Public Interest Issues : "Burden of Unsustainable Debt" and imprisonment u/s  138 of Negotiable Instrument Act.

Prior to criminalisation of check dishonour, the Banker's used to examine customer's "Earning of last three years and his capacity to repay loan". Then only they used to give loan.

After the criminalisation of check dishonour law, the banks are offering "unsustainable debt" to customers against their properties.

Since the debt is an "unsustainable debt", within an year or two, the customer will be in no position to repay debt.

Then he will face criminalisation under check dishonour law and his property will be auctioned away at throw away price under SARFAESI Act.

The unexamined question of law here is concept of "Unsustainable Debt". It is something above the provisions of Contract Act.

In such cases in trial court or at notice stage, the defense of "unsustainable debt", must be pleaded and proved. Definition of "Unsustainable Debt" can be found on internet.

To me, it seems that these areas of law requires some research.

(C) Haresh Raichura 25/6/20

#law #sarfaesiact #banks #loans #cheque #dishonour

Lawyers and law firms in India which are practising without valid degrees, may become liable to pay huge damages under Consumer Act.

 Lawyers and law firms in India which are practising without valid degrees, may become liable to pay huge damages under Consumer Act.

It has been in news that Govt of India is contemplating some amendment in Consumer Act and Rules.

1) There have been reports of lawyers practising without valid degree.

2) There have been rumours that many non-lawyers are opening law firms under cryptic names and then hiring junior advocates to do the work. The fees are taken by non-lawyers owner of firm, who then asks salaried juniors to file Vakalatnama and fight cases.

This is like non-medical persons opening hospitals and hiring young doctors on salary basis to run the hospitals.

3) Supreme Court Judgements that lawyers do do not come under Consumer Act may protect duly qualified lawyers and law firms, but may not protect fake lawyers and fake law firms. 

(C) Haresh Raichura 10/3/20

Choosing directions is better than choosing goals

Choosing directions is better than choosing goals. Suppose if you have a goal to become a "Corporate Lawyer".. Then you will work towards it. You will study materials for your Goal. You will get certificates and experience. And yet, since there are many variables in life, you may end up becoming something else and you may feel frustrated.

Choosing Direction is different.

For example if you choose to keep going towards East, you continue to move in that direction.

For example, if you decide to become "one of most highest income tax paying advocate".
Then this is direction will keep moving you towards becoming a rich lawyer. Life may put up many obstacles, but your direction will keep moving you in that direction.

And suppose I choose to live "like and Artist"... My direction will be to craft every phase of my life as if I am an artist who is designing and painting my own life on canvass of my life. Now and then, I will stop to admire beauty of my painting.

And suppose if I choose direction of my life as "Serve the mankind", I will be found mostly busy in helping others.

Such are the powers of setting directions in life.

(C) Haresh Raichura 26/2/20

#law #corporatelaw # #junioradvocates #advocate #districtcourt #supremecourt #highcourt #nlu #inspirational