Black Ace Chambers


Reality Check

As we know that in our country we come across new laws every fortnight, you also know that the process of enacting or constituting a law is very complex and it has to pass through different stages in order to become an actual law. Most of the time its foundation is being laid on the basis of its need looking at the scenario across the nation. You also know that a law is a product of some of the greatest minds of India of its time, when these minds give their intellectual and indigenous lookout towards the need of the time and the solution for achieving a particular objective then law is made. However, we have also witnessed that corrupt nexuses also pop up in order to flay or to misuse the lacuna or the loopholes of a particular law, eventually which leaves to formulation of another law or amendment. So it’s a non-ending chain for nation building, which itself needs to be corrected. 
Real Estate (Regulation and Development) Act, 2016; Insolvency and Bankruptcy Code, 2016; Consumer Protection Act, 2019;  Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002, Recovery of Debts Due to Bank and Financial Institutions, 1993; all these acts and their amendments are an outcome of the requirement of the time where in the public, corporate and some of the public sectors needed such laws for smooth functioning, betterment and also to safeguard their interest. However, despite all these efforts and acts by the government, the corruption and problems still persist. The integrity of the bureaucracy has always been in question in India, therefore, instead of so many laws unfair trade practices blossom without any check. However, still the trust on judiciary is there, if a person knows the procedure to reach its goal by defying mazes created by corrupt bureaucracy.

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