What is Section 39 of Insurance Act?
Asked by: Prof. Ethan Simonis | Last update: December 11, 2025Score: 4.5/5 (42 votes)
What is section 39 in insurance?
Section 39. ''Voluntarily''. Previous Next. A person is said to cause an effect "voluntarily" when he causes it by means whereby he intended to cause it, or by means which, at the time of employing those means, he knew or had reason to believe to be likely to cause it.
What is Section 39 of the Federal Deposit Insurance Act?
--Each appropriate Federal banking agency shall, prescribe standards, by regulation or guideline, for all insured depository institutions relating to asset quality, earnings, and stock valuation that the agency determines to be appropriate.
What is not covered by federal deposit insurance?
Examples of non-deposit products that are not covered by FDIC deposit insurance include: Investments in mutual funds. U.S. Treasury bills, notes, and bonds purchased through an insured institution. Annuities.
What is the reportable deposit amount?
Banks are required to report cash into deposit accounts equal to or in excess of $10,000 within 15 days of acquiring it. The IRS requires banks to do this to prevent illegal activity, like money laundering, and to curtail funds from supporting things like terrorism and drug trafficking.
Insurance Act 1938 | Introduction | Siddharth Agarwal
What is the return under section 39?
(1) Every registered person, other than an Input Service Distributor or a non-resident taxable person or a person paying tax under the provisions of section 10 or section 51 or section 52 shall, for every calendar month or part thereof, furnish, 1[in such form and manner as may be prescribed], a return, electronically, ...
What is the rule 39 of the Companies Act?
(1) No allotment of any securities of a company offered to the public for subscription shall be made unless the amount stated in the prospectus as the minimum amount has been subscribed and the sums payable on application for the amount so stated have been paid to and received by the company by cheque or other ...
What is Section 39 of the Specific Relief Act?
39. Mandatory injunctions. -When, to prevent the breach of an obligation, it is necessary to compel the performance of certain acts which the court is capable of enforcing, the court may in its discretion grant an injunction to prevent the breach complained of, and also to compel performance of the requisite acts.
What is an example of a specific relief act?
For example, a person undertakes a contract to sing at a particular place and also undertakes not to sing anywhere else during the same period. In case the singer threatens breach, the court cannot force him to sing. The positive side of the bargain is not specifically enforceable.
What is the effect of rescission?
Legal Effect of Rescission. In legal language, a rescinded contract is void ab initio. That is the result that courts aim to achieve. To rescind a contract, the parties return money, property and other interests to the other party to restore themselves to their precontractual positions.
What is the meaning of interim injunction?
An interim injunction is provisional measure sought during legal proceedings, before trial. An injunction is an order of the court that requires a party either to do a specific act, or to refrain from doing a specific act. Interim injunctions are intended to prevent injustice pending trial.
What are the effects in case of failure to get minimum subscription?
If a company fails to receive the minimum subscription amount for a public issue, the entire issue is canceled. This means that the company cannot allot shares to any of the applicants, and all the application money is refunded to the investors.
What is section 40 of the Companies Act?
Securities to be dealt with in stock exchanges. (1) Every company making public offer shall, before making such offer, make an application to one or more recognised stock exchange or exchanges and obtain permission for the securities to be dealt with in such stock exchange or exchanges.
Who are relatives under Companies Act?
A person shall be deemed to be the relative of another, if he or she is related to another in the following manner, namely:- (1) Father: Provided that the term “Father” includes step-father. (2) Mother: Provided that the term “Mother” includes the step-mother.
What is first return?
40. First Return. - Every registered person who has made outward supplies in the period between the date on which he became liable to registration till the date on which registration has been granted shall declare the same in the first return furnished by him after grant of registration.
What is the meaning of ITC reversal?
Reversal of ITC means the credit of inputs utilised earlier would now be added to the output tax liability, effectively nullifying the credit claimed earlier. Depending upon when such reversal is done, payment of interest may also be required.
Who is required to file a return as per other conditions prescribed under clause iv of seventh proviso to section 139 1?
If a person has incurred an expenditure that comes to an aggregate of INR 2 lakhs and beyond on travel done across borders to a foreign land, he/she is required to file the income tax return under 7th Proviso to 139 (1) Section of IT Act, 1961.
What is Section 39 of the Companies Act 2013?
(1) No allotment of any securities of a company offered to the public for subscription shall be made unless the amount stated in the prospectus as the minimum amount has been subscribed and the sums payable on application for the amount so stated have been paid to and received by the company by cheque or other ...
What is Section 38 of the Companies Act?
Section 38 of the Companies Act 61 of 1973 prohibited a company to provide financial assistance for the acquisition of shares not only in the company itself or its holding company but also subsidiary.
What is Section 30 of the Companies Act?
In terms of Section 30 (1) of the Act, a company must prepare annual financial statements (AFS) each year within six months after the end of its financial year.
What is the difference between over subscription and under subscription?
The main difference between oversubscription and under-subscription is that Oversubscription occurs when demand for shares exceeds supply, leading to partial allotments, while under-subscription happens when demand is less than the number of shares offered, potentially indicating a lack of investor interest or ...
What is the golden rule in prospectus?
The 'Golden Rule' of issuing a prospectus provides that if a company is making any voluntary statements regarding the financial health of the business, it must include true and verified information. A prospectus is issued for the benefit of the potential investors, which are from the general public.
What is the minimum subscription rule?
141. (1) The minimum subscription to be received in the issue shall be at least ninety per cent. of the offer through the offer document, except in case of an offer for sale of specified securities.
What is the order 39 for interim injunction?
Order 39 Rule -1 of C.P.C provides that where in any suit it is proved by affidavit or otherwise a) That any property in dispute in a suit is in danger or being wasted, damaged or alienated by any party to the suit, or wrongfully sold in execution of a decree, or Page 21 21 b) That the defendant threatens or intends to ...
What is the prima facie case?
A prima facie case is the establishment of a legally required rebuttable presumption. A prima facie case is a cause of action or defense that is sufficiently established by a party's evidence to justify a verdict in his or her favor, provided such evidence is not rebutted by the other party.