The Turquand Rule

The Turquand Rule otherwise known as the internal management rule was first developed in Royal British Bank v Turquand (1856) 6 E & B 327, 119 ER 886. It is argued by many that it was formulated as a means of counteracting the rigid doctrine of constructive notice by protecting ‘bona fide third parties’ dealing…

GENERAL INSURANCE BUSINESS (NATIONALISATION) AMENDMENT BILL, 2021 – AN OVERVIEW

Recently, the General Insurance Business (Nationalisation) Amendment Bill, 2021 was passed by both the Houses of Parliament i.er., the Lok Sabha and the Rajya Sabha. This Bill, which was introduced by the Finance Minister Nirmala Sitharaman, amends the General Insurance Business (Nationalisation) Act, 1972. The 1972 Bill was aimed at nationalizing the insurance sector across…