Justice Prevails - "Insight on Indian Civil and Criminal Litigation".

   IS BITCOIN IS Illegal? In an  interview  with  Press Trust of India  (PTI), Finance Secretary TV Somanathan stated that, just as gold and diamonds are not legal cash despite their value, private cryptocurrencies would be walking in the same path. He further stated that  “cryptocurrencies will never be accepted as legal currency. It is a legal tender, which means it can be used to settle debts. In India, only the Reserve Bank’s ‘Digital Rupee’ would be considered as legal money” . Except for El Salvador, which proclaimed Bitcoin legal cash in September of last year (2021), no other country has made crypto a legal tender. India is drafting laws to govern cryptocurrencies, but no draft has been made available to the public. Meanwhile, the Digital Rupee, a central bank-backed digital currency, will begin to circulate in the coming fiscal year (2022-2023), ushering in more affordable and effective currency management. How are bitcoins taxed in India? Th...

 Can the Debt Recovery Companies threatened you?  "Smart Security Secret Service Agency vs State Bank of India) the High Court of Kerala ruled that resorting to strong-arm tactics to recover loans by Banks and other Financial Institutions is unlawful." Debt Recovery Company cannot falsely claim that you have committed a crime or say you will be arrested if you don’t repay the money No agency can issue arrest warrants or have you put in jail. Furthermore, failing to repay a credit card debt, mortgage, car loan, or medical bill in a timely manner doesn't land you in prison.  That said, if anyone receive a legitimate order to appear in court on a matter related to a debt and he or she doesn't show up, the judge could issue a warrant for his or her arrest. And, if anyone fail to pay a court fine related to the debt, or refuse to pay, they could go to jail. So next time if you receives a call and the company says that they will issue warrants against you, or will come at y...