UNIVERSITY OF PETROLEUM & ENERGY STUDIES COLLEGE OF LEGAL STUDIES

B.A.,LL.B(HONS)/B.B.A.,LL.B(HONS)
SEMESTER- VIII ACADEMIC YEAR: 2013-2014 SESSION: JANUARY-MAY

ASSIGNMENT I FOR BANKING AND INSURANCE LAW (Subject Code: LLBL 441) Under the Supervision of: Ms. Sujata Bali
(TO BE FILLED BY THE STUDENT)

NAME: _______________________ SAP NO: _______________________ ROLL NO -------------------------------------

Section A (10 Marks) (Attempt all questions. All questions carry equal marks)-General Questions Write short notes on any four of the following: Q. No.1. The Reserve Bank of India Q. N0.2. WTO and Indian Banks Q. N0.3. Negotiable Instruments Q. No.4. Insurable Interest Q.N0.5 Reinsurance Section B (20 marks) - Conceptual Question (Attempt all questions. All questions carry equal marks) Q. N0.6. Explain the need of consumer protection law for bank-customers. Q. N0.7. Write on the development of concept of insurance. Section C (20 marks) - Analytical question (Attempt all questions. All questions carry equal marks) Q. N0.8. Explain and analyse the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. Q. N0.9. Critically analyse the Recovery of Debts due to Banks and Financial Institutions Act, 1993. Section C (50 marks) (Attempt all questions. All questions carry equal marks) - Application Based Question Read the problem and answer the following questions: Problem Details: S opened an account with the bank by making a cash deposit of Rs.20, 000. S was issued a cheque book containing 20 cheques. A year after the opening of the account S drew a cheque for the first time for Rs.6, 000 which was dishonoured by the bank. On enquiries, S was informed that 10 months ago three cheques aggregating Rs. 18,000 were paid by the bank and the present balance in the account was Rs.2000. S denied issuing of the cheques and sued the bank. In evidence it came out that 3 cheques used to withdraw the amounts were not from the cheque book issued to S and were from a different cheque book. Though bank was not in a position to explain this lapse, they made an attempt to counter the contentions of S by producing his specimen signature which appeared to be similar to the ones on the cheques. S however denied Assignment-I, Banking and Insurance Law, January to May, 2014. Page | 1

that the specimen signature was his and it was found that the alleged specimen signature were totally different from Ss regular signature. Further, signature of S was missing in the cheque book issue register. Evidence also was led to show that the banks own employees were involved in the forgery since the ledger page of Ss account showed that certain erasures and scorings were made. Questions: Based on the Case Study/Case Details/Problem Details Q. N0. 10. What are possible options with S for redressing his grievance? Q. N0.11. Evaluate the advantages/disadvantages of filing a civil suit as a chosen grievance- redressal mechanism. Q. No.12. Enumerate arguments on behalf of S. Q. N0.13. Enumerate arguments on behalf of the Bank. Q. N0.14. If banks liability is established, can the misappropriated money be recovered as debt by the Bank under the Recovery of Debts due to Banks and Financial Institutions Act, 1993? INSTRUCTIONS TO STUDENTS: 1. All the questions of the assignment must be handwritten. 2. To answer your assignment questions you need to access multiple information sources like, a. Your own prior experience. b. Regular reading of Books, Law Journals, magazines and newspapers. c. Reference Books. d. Browsing the internet for latest updates. 3. Please remember that due to the dynamic and rapidly changing global legal environment and the continuously realigning geopolitical situation, your answers should capture and depict the current contemporary information. 4. As a student of Law, we encourage to have a contrary point of view. But do ensure that you can provide a logical justification to this view supported by verifiable facts, figures, statues and decided cases by various higher courts. General Instructions: 1. Use A4 Sheets. Number the sheets in order and attach the sheets together with the help of tags. 2. Use Black/Blue Pen only. Use Black pen to highlight/underline and blue pen to write the details.

Assignment-I, Banking and Insurance Law, January to May, 2014. Page | 2