AI Overview...
Regulations under Section 25 Payment and Settlement Act
- Section 25 of the Payment and Settlement Systems Act, 2007
- Main points: This section pertains to criminal liability related to dishonour of electronic funds transfer, highlighting the legal framework for addressing fraudulent or wrongful acts in electronic payment systems. The Act empowers authorities to initiate criminal proceedings against offenders. Ritu Jain VS State Through Standing Counsel - Delhi
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Analysis and Conclusion: Section 25 provides a legal mechanism to deter dishonour and misuse in electronic fund transfers, ensuring integrity and accountability in digital payment systems.
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General Provisions and Enforcement
- Main points: Sections 5, 6, and 7 of the same Act elaborate on authorizations, regulation, and oversight of payment systems, including the role of the Reserve Bank of India (RBI) in issuing licenses and monitoring compliance. These sections facilitate the operational regulation of payment systems and address misuse or irregularities. Sajag Upbhokta Shakti Sangthan Samiti VS Life Insurance Corporation of India - Rajasthan
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Analysis and Conclusion: The Act establishes a comprehensive regulatory framework to oversee electronic payment operations, emphasizing the importance of compliance and authorized conduct to maintain system integrity.
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Criminal Liability and Dishonour of Payments
- Main points: The Act prescribes penalties under Sections 25 and 27 for offences such as dishonour of electronic funds transfers, indicating stringent measures against violations. Ritu Jain VS State Through Standing Counsel - Delhi
- Analysis and Conclusion: These provisions aim to uphold trust in digital payment systems by imposing criminal sanctions for misconduct, thus reinforcing legal accountability.
Additional Context from Related Acts
- Other Payment-Related Regulations
- The references to other acts such as the Maharashtra Mathadi Act, Companies Act, and Hyderabad Jagirdars Debt Settlement Act highlight that Section 25's principles resonate across various statutes concerning payments, settlement, and worker welfare, emphasizing the importance of lawful and regulated payments. Rashtriya Chemical & Fertilizers VS Chairman - Bombay, Krishna Chemicals, Diamond Chemicals Industries Pvt. Ltd. VS Orient Paper and Industries Ltd. - Orissa, State Bank of Hyderabad VS Joint family of Mukundas Raja Bhagwandas and Sons - Andhra Pradesh
- Analysis and Conclusion: While not directly part of the Payment and Settlement Systems Act, these references illustrate the broader legal landscape where regulated payments and settlements are critical for protecting rights and ensuring lawful conduct.
Summary:
Section 25 of the Payment and Settlement Systems Act, 2007, primarily addresses criminal liability related to the dishonour of electronic funds transfers, establishing penalties and enforcement mechanisms to ensure integrity in digital payment systems. It works alongside Sections 5, 6, and 7, which regulate authorization and oversight by authorities like RBI. These provisions collectively aim to safeguard electronic transactions, uphold system trust, and provide legal remedies for violations. The principles of regulated payments and penalties are echoed across other statutes concerning financial and worker welfare payments, underscoring the importance of lawful compliance in various contexts.
References:
- Ritu Jain VS State Through Standing Counsel - Delhi
- Sajag Upbhokta Shakti Sangthan Samiti VS Life Insurance Corporation of India - Rajasthan
- Rashtriya Chemical & Fertilizers VS Chairman - Bombay
- Krishna Chemicals, Diamond Chemicals Industries Pvt. Ltd. VS Orient Paper and Industries Ltd. - Orissa
- State Bank of Hyderabad VS Joint family of Mukundas Raja Bhagwandas and Sons - Andhra Pradesh
Search Results for "Regulations under Section 25 Payment and Settlement Act"
2010 0 Supreme(Bom) 86 • India - Bombay
MRIDULA BHATKAR, RANJANA DESAI
Section 25 of the Mathadi Act would come to the rescue of the workers. ... Maharashtra Mathadi, Hamal and Other Manual Workers (Regulation of Employment and Welfare) Act, 1969 - Sections 6 and 25 - Increase ... as a relief to workers against rising prices as per consumer price index - To deny D.A. to workers, contrary to Section 25 of....
1973 0 Supreme(Mad) 186 • India - Madras
M.M.ISMAIL, NATARAJAN
District Municipalities Act, 1920-Sections 6 (2) and 26 b(2)-Use of public market-Levy of fee-Held, not a fee being quid pro quo ... , while the payment of fees under sub-section (2) of section 260 of the Act is a statutory obligation and once the Municipality has ... Nambiar, contended that the payment of fees for licence as defined in section 52 of t....
2005 0 Supreme(Ori) 25 • India - Orissa
A.K.PATNAIK
Act, 1993 - Sec. 4 - Winding up of company - Principal amount paid to petitioner - Payment of interest - Company is liable to pay ... in force - Company liable to be wound up for non-payment of interest under the provisions of the Act, 1993 to the petitioners - ... COMPANIES ACT, 1956 - Secs. 433, 434 and 439 - Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertak....
2019 0 Supreme(Guj) 1087 • India - Gujarat
V.M.PANCHOLI
Allottees of each of the 208 quarters were required to make payment on hire charges of Rs. 350/- per month. ... 33(5) of the Development Control Regulations. ... to it in relevant Development Control Regulations.". ... Resolution/BJZ/102014/1642/TH-1 as ultra vires to the provisions of section 17 of the Registration Act, 1908; Section 54 of the Transfer
2002 0 Supreme(Kar) 771 • India - Karnataka
V.GOPALA GOWDA
of the settlement make it very clear that if the payment of gratuity is under the provisions of Payment of Gratuity Act or Regulations ... under the above said Bipartite settlement is more beneficial than under the provisions of the Act and Regulations. ... By a careful reading of the above clause of the Settlement as a whole, the payment#HL_....
2019 0 Supreme(Del) 1084 • India - Delhi
R.K.GAUBA
25 of the Payment and Settlement Systems Act, 2007. ... Payment and Settlement Systems Act - Criminal Complaint - Section 25, Section 27 - The judgment discusses the allegations of dishonour ... of electronic funds transfer under Section 25 of the Payment and #HL_....
1963 0 Supreme(AP) 25 • India - Andhra Pradesh
N.KUMARAYYA, P.CHANDRA REDDY, SHARFUDDIN AHMED
HYDERABAD JAGIRDARS DEBT SETTLEMENT ACT, 1952 - SECTION 25(1) - CONSTRUCTION - APPLICABILITY TO SUITS, APPEALS, APPLICATIONS FOR ... Section 25(1) of the Hyderabad Jagirdars Debt Settlement Act, 1952 is applicable only to suits, appeals, applications for execution ... By that time, the last date fixed for making an application under Section#H....
2011 0 Supreme(Raj) 257 • India - Rajasthan
ARUN MISHRA, MOHAMMAD RAFIQ
Payment and Settlement System Act, 2007, Secs. 5, 6, 7 — P.I.L. against the alleged misuse of public money by L.I.C. to the tune ... authorisation was issued by Reserve Bank of India on the basis of returns filed and only two entitles have been authorised for the payment ... crores all over the country — Allegation of favouritsm — Held — The action has been taken in accordance with Secs. 5, 6 and 7 of the Act#HL_....
1988 0 Supreme(Bom) 432 • India - Bombay
ASHOK AGARWAL
AIR INDIA - PILOTS - FLIGHT DUTY HOURS - INDUSTRIAL DISPUTES ACT, 1947 - SETTLEMENT - AIR CORPORATION ACT, 1953 - SECTION 7(1) ... ARTICLE 226 - ARTICLE 14 - ARTICLE 19 - ARTICLE 21 - SECTION 25-U - SECTION 33-C - SECTION 36-A - SECTION 45(2)(B) - SECTION 53 - ... The Court further held that the agreement of 1971, th....
• India - Supreme Court
KRISHNAIYER, PATHAK, KOSHAL, JJ
23, 29 - Bonus Payment Rights - The Central Government may alter service conditions of employees under section 11 without affecting ... of 1974 must be honored, and the recent notice and regulations altering bonus conditions were invalid and ineffective - The Industrial ... ... ... Ratio Decidendi: The court established that a settlement under the Industrial Disputes Act remains effective despite notice....
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