LL.B. (Five Years) Sem 10 Law of Banking and Negotiable Instruments May 2024 60/40 Question Paper - Mumbai University | munotes

Questions asked in this paper

• N.B: 1. Please check if you have received the correct Question Paper; 2. Answer all Questions as per the instructions given; 3. Do not reveal your identity or put any signs, markings, inscriptions anywhere on your answer sheets; 4. Give relevant case laws / references / illustrations.

SECTION I - Q.1: Answer any six of the following (12 Marks - 2 marks each)

1. Q1 What is the Unclaimed Deposit?
2. Q2 What are the disqualifications on appointment of persons as Directors and members of a Local Board of the RBI?
3. Q3 Name any Four Foreign Banks operating in India.
4. Q4 Who is an acceptor for honour?
5. Q5 Under what conditions an officer of a bank is not compellable to produce Bankers' Books in a legal proceeding as per the provisions of the Bankers' Books Evidence Act?
6. Q6 What is a payment in due course as per the provisions of the Negotiable Instruments Act, 1881?
7. Q7 Who was the chairperson of the Committee, based on whose report of the year 1991, the Debt Recovery Tribunals were set up in India?
8. Q8 State the various modes of recovery of debts as per provisions of the Recovery of Debts Due to Banks and Financial Institutions Act?
9. Q9 What is the liability of a drawee of a Cheque?
10. Q10 What is Indorsement?

SECTION II - Q.2: Answer any two of the following (12 Marks - 6 marks each)

1. Q11 Inland and Foreign Bills.
2. Q12 Debts Recovery Appellate Tribunal.
3. Q13 Winding up of a Banking Company.
4. Q14 Powers and functions of SEBI.

SECTION III - Q.3: Answer any two of the following (12 Marks - 6 marks each)

1. Q15 State whether the permission from the R.B.I is needed to be taken by WTO Bank which is a scheduled Indian Bank in the following circumstances, giving elaborate reasons for your answers: (i) When the WTO Bank wants to open two new branches in the city of Daulatabad. (ii) When the WTO Bank wants to shift its existing branch in Mirzapur Colony located in Fakirabad City to Dayalubagh Colony located in Fakirabad City.
2. Q16 A draws a Bill of Exchange on B who accepts it without any consideration. B transfers the said Bill of Exchange to C without any consideration. C then transfers it to D for a consideration value. (i) Analyse the situation and determine whether D can sue A, B and C. Give elaborate reasons for your answer. (ii) Do A, B and C have any rights of actions in the given situation against one another? If yes, identify the persons who have such rights and against whom. Give elaborate reasons for your answer.
3. Q17 What important provisions with respect to the powers of the R.B.I over the functioning of the N.B.F.C's in India were provided by the Supreme Court in the landmark judgment of the Nedumpilli Finance Co. Ltd. V/s. State of Kerala.
4. Q18 (i) A Promissory Note dated 30th November, 2023, is made payable three months after date. Identify the date at which the said instrument will mature on. (ii) Heehee draws a bill on Seesee on 1st November, 2023 for Rs. 50,000 for 3 months payable after sight. Calculate due date in the above case? (iii) Determine what shall happen if actual due date happens to be a National holiday?

SECTION IV - Q.4: Answer any two of the following (24 Marks - 12 marks each)

1. Q19 Discuss in elaborate details, the various salient provisions related to the forms of business which the Banking Companies in India can engage and can not engage as per the Banking Regulation Act and the Reserve Bank of India Act.
2. Q20 Discuss regarding the various provisions related to the functions and powers of the RBI.
3. Q21 Define and distinguish between Promissory Note, Bill of Exchange and Cheque.
4. Q22 Describe and discuss the various provisions related to Holder and Holder in due course of a Negotiable Instrument. Also, explain the various rights and privileges of a Holder in due course.

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