The economic cost of judicial delays is colossal. But the problem is not unsolvable.
In 1963, members of a family – which shall remain unnamed – fighting over property, filed a suit in a trial court in Bombay (as it was then called). The court announced its verdict 25 years later, in 1988. The losing party then moved the Bombay High Court in appeal. As the case was being heard, the court discovered that a number of the parties to the feud had died in the intervening years. If any party dies, the Code of Civil Procedure requires a legal representative to be made a party within 90 days. Since the appellants had failed to do so, the high court dismissed the appeal in 2015. The appeal to the Supreme Court is still pending. Now, if the Supreme Court feels that this procedural oversight can be condoned, the case could well go back to the high court for fresh hearings, 55 years after it was originally filed.
Or take the example of several cases related to bounced cheques, filed in the early 1990s, that finally found resolution in the Supreme Court only last year. Even if the defaulter pays up, as they mostly have to, and is charged 200 per cent penalty to boot, the amount is still paltry, given the inflation of the past three decades. And these are cases filed under Section 138 of the Negotiable Instruments Act, which was supposed to be a fast-track mechanism for resolution of cheque-bounce cases. It isn’t that justice is not available as much as that with the delays, it becomes almost meaningless.
Scale of the Problem
Diese Geschichte stammt aus der April 08, 2018-Ausgabe von Business Today.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der April 08, 2018-Ausgabe von Business Today.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Pension Scheme - Safety Net
The move to introduce the UPS has evoked mixed reactions. Analysts believe its funding will have limited impact on the fiscal math
The Reit Choice?
Real Estate Investment Trusts (Reits) Are Gaining Traction As Interest Rates Stabilise. But Returns Could Be Affected By Adverse Economic Conditions And Market Volatility
CORPORATE - Calling to Account
The sudden exit of Byju's auditor BDO marks the latest in a long series of setbacks for the edtech firm
EMPLOYMENT: Skills Push
The skill development ministry plans to partner with the UGC to improve the employability of undergraduates
Building on a Vision
L&T'S CHAIRMAN EMERITUS A. M. NAIK HAS BUILT A MAMMOTH ENTERPRISE THAT IS BUILDING A NEW INDIA, FROM ITS METRO RAIL SYSTEMS TO THE RAM TEMPLE
"KYS more important than KYC"
Vijay Kedia is a renowned equity investor; the value of his listed portfolio stands at around ₹1,750 crore
ROXX STAR
THE THAR ROXX COMBINES LUXURY WITH PERFORMANCE TO MAKE A STRONG STATEMENT IN THE MID-SIZE SUV SEGMENT
HIT THE GROUND RUNNING
Smartwatches have become indispensable tools for runners, offering real-time insights into pace, distance, heart rate, and more. Here are a few you can consider
TURNING THE TABLES
INDIA'S FURNITURE MARKET IS POISED FOR A GLOBAL TAKE-OFF. ALREADY, A HOST OF GLOBAL BRANDS HAVE MADE THE COUNTRY THEIR HOME, BUT INDIAN COMPANIES ARE NOT TOO FAR BEHIND
THE EVOLUTION OF ATHERA
IDENTIFYING OPPORTUNITIES IN ADVANCE HAS STOOD THIS BENGALURU-BASED VC FUND IN GOOD STEAD. NOW, WITH A HEIGHTENED FOCUS ON TECHNOLOGY, IT WANTS TO SUSTAIN THE SUCCESS