Download CUSTOMER_CODE SMUDE DIVISION_CODE SMUDE

CUSTOMER_CODE
SMUDE
DIVISION_CODE
SMUDE
EVENT_CODE
Jan2017
ASSESSMENT_CODE MA0037_Jan2017
QUESTION_TYPE
DESCRIPTIVE_QUESTION
QUESTION_ID
42818
QUESTION_TEXT
Explain duties of Bailor and Bailee
Duties of Bailor:
1. To disclose known facts
2. To bear extraordinary expenses of the bailment
3. Duty to indemnity bailee in case of premature termination
4. To receive back the goods
SCHEME OF EVALUATION 5. To indemnify the bailee against defective title
Duties of Bailor:
1 To take reasonable care of the goods bailed
2. Not to mix bailor’s goods with his own
3. To return any accretion to the goods
4. To return the goods
QUESTION_TYPE
DESCRIPTIVE_QUESTION
QUESTION_ID
42820
QUESTION_TEXT
Briefly explain law relating to Co-operative Banks.
SCHEME OF
EVALUATION
1. Application of the Negotiable instrument Act 1881
2. provisions of Bankers Book of Evidence Act 1891
3. Recovery of Debt due to Banks and finance Institution Act
1993
4. SARFAESI Act
QUESTION_TYPE
DESCRIPTIVE_QUESTION
QUESTION_ID
42822
QUESTION_TEXT
Discuss the consumer protection councils.
a. central consumer protection council
SCHEME OF EVALUATION b. state consumer protection
c. district consumer protection council.
QUESTION_TYPE DESCRIPTIVE_QUESTION
QUESTION_ID
124151
QUESTION_TEXT Define a Negotiable Instrument. Explain its features.
Negotiable Instruments
According to Section 13 (1) of the Negotiable Instrument Act, negotiable
instrument means a promissory note, bill of exchange or cheque payable
either to order or to bearer. It is used to transfer a debt from one account to
another and from one person to another person.
(2
marks)
SCHEME OF
EVALUATION
Features of a negotiable instrument
1.
Freely transferable:
2.
Title of holder free from all defects
3.
Recovery
4.
Presumptions
(8
marks)
QUESTION_TYPE
DESCRIPTIVE_QUESTION
QUESTION_ID
124154
QUESTION_TEXT
Explain the types of Mortgage.
Types of mortgage
SCHEME OF
EVALUATION
1. Simple mortgage - The mortgagor without delivering possession of
the mortgaged property agrees to pay the mortgaged money and in case
of default of the contract, the mortgagee can sell the mortgaged property
towards the payment of mortgage-money.
2. Mortgage by conditional sale - The mortgagor apparently sells the
mortgaged property to the mortgagee.
Where the mortgagor apparently sells the mortgaged property on
condition that
(a) on default of payment of the mortgage-money on a certain date the
sale shall become absolute
(b) if such payment is being made then the sale shall become void and
the buyer (mortgagee) shall transfer the property to the seller
(mortgagor).
3. Usufructuary mortgage - The mortgagor delivers the possession of the
mortgaged property to the mortgagee.
a)The mortgagor authorises the mortgagee to retain such possession
until payment of the mortgage money.
b)To receive the rents and profits arising from the property.
c)Appropriate the same towards payment of interest or mortgage money
or both.
4. English mortgage
a)The mortgagor binds himself to repay the mortgage-money on a
certain date, and transfers the mortgage property absolutely to the
mortgagee.
b)Subject to a condition that he will re-transfer it to the mortgagor upon
payment of the mortgage money.
5. Mortgage by deposit of title deeds
a)The mortgagor delivers to a creditor or his agent documents of title to
immovable property
b)With intent to create a security thereon
c)The delivery of documents of title is done in a town specified by the
state government
d)The property given as a mortgage may or may not be situated in
notified towns
QUESTION_TYPE
DESCRIPTIVE_QUESTION
QUESTION_ID
124155
QUESTION_TEXT
Explain the Documents involved in a securitization transaction.
SCHEME OF
EVALUATION
The documents involved in a securitisation transaction
Offer document – The details about the financial asset, the loan details
of the bank, the trustee’s details, etc are included. In addition, the
quarterly details about profit-loss, prepayments, expenses, defaults,
collection, etc are to be furnished. The RBI in its guidelines of 2003 has
mentioned about the form of offer and other details to be incorporated
therein.
Debenture – For acquisition of a financial asset, a debenture is to be
issued to the bank or financial institution towards payment of
consideration. The interest offered in the debenture cannot be less than
1.5% above the bank rate as on the date of issue of debenture and the
period of redemption of debenture cannot exceed eight years.
An agreement – It is with the originator to continue to service the assets
of the securitisation.
Security receipt – It is in favour of the investors.
Notice to obligator and discharge of obligation of such obligator –
When the financial assets are acquired from a bank or financial
institution by the securitisation or reconstruction company, such banks or
financial institutions may give a notice about the acquisition to the
obligator, i.e., borrower or any other person liable to repay to the bank or
financial institution. Issue of such notice is only optional under the Act.
In case the obligator is a company, the notice is to be given to the
registrar also in case if the bank or financial institution decides to give
notice.
If notice of acquisition is given to the obligator, it is necessary that the
obligator should make payments to the concerned securitisation or
reconstruction company. Such payments made by the obligator are
deemed to be valid discharge of liability. In cases where the notice of
acquisition is not given, the money or property received by the bank or
financial institution from the obligator shall be held by such bank or
financial institutions in trust and shall be handed over to the concerned
securitisation company or reconstruction company.
Issue of security receipts and raising of funds – By issue of security
receipts, the securitisation or reconstruction company raises funds for
acquisition. Only the qualified institutional investor buyers can buy these
security receipts. The security receipts are not issued to the public. The
investor has to make a lot of risk assessment since the investment and
financial market in this field is very complex. Since the individual
investor does not possess such expertise or skills, the Act debarred
individuals from making investment in security receipts.