BORROWING (FINANVCE, PROPERTY, CONTRACTS SUITS)
ARTICAL : 292-293
BORROWING BY THE GOVERNMENT OF INDIA
The executive power of the Union extends to borrowing upon the security of the Consolidated Fund of India within such limits, if any, as may from time to time be fixed by Parliament by law and to the giving of guarantees within such limits, if any, as may be so fixed
BORROWING BY STATES
(1) Subject to the provisions of this article, the executive power of a State extends to borrowing within the territory of India upon the security of the Consolidated Fund of the State within such limits, if any, as may from time to time be fixed by the Legislature of such State by law and to the giving of guarantees within such limits, if any, as may be so fixed
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PROPERTY, CONTRACTS, RIGHTS, LIABILITIES, OBLIGATIONS AND SUITS (FINANCE,PROPERTY, CONTRACTS AND SUITS)
ARTICAL :294-300
SUCCESSION TO PROPERTY, ASSETS, RIGHTS, LIABILITIES AND OBLIGATIONS OBLIGATIONS IN CERTAIN CASES
As from the commencement of this Constitution—
(a) all property and assets which immediately before such commencement were vested in His Majesty for the purposes of the Government of the Dominion of India and all property and assets which immediately before such commencement were vested in His Majesty for the purposes of the Government of each Governor’s Province shall vest respectively in the Union and the corresponding State, and
(b) all rights, liabilities and obligations of the Government of the Dominion of India and of the Government of each Governor's Province, whether arising out of any contract or otherwise, shall be the rights, liabilities and obligations respectively of the Government of India and the Government of each corresponding State,
subject to any adjustment made or to be made by reason of the creation before the commencement of this Constitution of the Dominion of Pakistan or of the Provinces of West Bengal, East Bengal, West Punjab and East Punjab
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SUCCESSION TO PROPERTY, ASSETS, RIGHTS, LIABILITIES ANDOBLIGATIONS IN OTHER CASES.
(1) As from the commencement of this Constitution—
(a) all property and assets which immediately before such commencement were vested in any Indian State corresponding to a State specified in Part B of the First Schedule shall vest in the Union, if the
purposes for which such property and assets were held immediately before such commencement will thereafter be purposes of the Union relating to any of the matters enumerated in the Union List, and
(b) all rights, liabilities and obligations of the Government of any Indian State corresponding to a State specified in Part B of the First Schedule, whether arising out of any contract or otherwise, shall be the rights, liabilities and obligations of the Government of India, if the purposes for which such rights were acquired or liabilities or obligations were incurred before such commencement will thereafter be purposes of the Government of India relating to any of the matters enumerated in the Union List,
subject to any agreement entered into in that behalf by the Government of India with the Government of that State.
(2) Subject as aforesaid, the Government of each State specified in Part B of the First Schedule shall, as from the commencement of this Constitution, be the successor of the Government of the corresponding Indian State as regards all property and assets and all rights, liabilities and obligations, whether arising out of any contract or otherwise, other than those referred to in clause (1).
PROPERTY ACCRUING BY ESCHEAT OR LAPSE OR AS BONA VACANTIA
Subject as hereinafter provided, any property in the territory of India which, if this Constitution had not come into operation, would have accrued to His Majesty or, as the case may be, to the Ruler of an Indian State by escheat or lapse, or as bona Vacanti for want of a rightful owner, shall, if it is property situate in a State, vest in such State, and shall, in any other case, vest in the Union:
Provided that any property which at the date when it would have so accrued to His Majesty or to the Ruler of an Indian State was in the possession or under the control of the Government of India or the Government of a State shall, according as the purposes for which it was then used or held were
purposes of the Union or of a State, vest in the Union or in that State.
Explanation.—In this article, the expressions “Ruler” and “Indian State” have the same meanings as in article 363.
1[THINGS OF VALUE WITHIN TERRITORIAL WATERS OR CONTINENTALSHELF AND RESOURCES OF THE EXCLUSIVE ECONOMIC ZONE TO VEST IN THE UNION]
(1) All lands, minerals and other things of value underlying the ocean within the territorial waters, or the continental shelf, or the exclusive economic zone, of India shall vest in the Union and be held for the purposes of the Union
[(2) All other resources of the exclusive economic zone of India shall also vest in the Union and be held for the purposes of the Union
(3) The limits of the territorial waters, the continental shelf, the exclusive economic zone, and other maritime zones, of India shall be such as may be
specified, from time to time, by or under any law made by Parliament.]
1[POWER TO CARRY ON TRADE, ETC]
The executive power of the Union and of each State shall extend to the carrying on of any trade or business and to the acquisition, holding and disposal of property and the making of contracts for any purpose:
Provided that—
(a) the said executive power of the Union shall, in so far as such trade or business or such purpose is not one with respect to which Parliament may make laws, be subject in each State to legislation by the
State; and
(b) the said executive power of each State shall, in so far as such trade or business or such purpose is not one with respect to which the State Legislature may make laws, be subject to legislation by Parliament.]
CONTRACTS
(1) All contracts made in the exercise of the executive power of the Union or of a State shall be expressed to be made by the President, or by the Governor 1** of the State, as the case may be, and all such contracts and all assurances of property made in the exercise of that power shall be executed on behalf of the President or the Governor 1** by such persons and in such manner as he may direct or authorise
(2) Neither the President nor the Governor 2*** shall be personally liable in respect of any contract or assurance made or executed for the purposes of this Constitution, or for the purposes of any enactment relating to the Government of India heretofore in force, nor shall any person making or executing any such contract or assurance on behalf of any of them be personally liable in respect thereof
SUITS AND PROCEEDINGS
(1) The Government of India may sue or be sued by the name of the Union of India and the Government of a State may sue or be sued by the name of the State and may, subject to any provisions which may be made by Act of Parliament or of the Legislature of such State enacted by virtue of powers conferred by this Constitution, sue or be sued in relation to their respective affairs in the like cases as the Dominion of India and the corresponding Provinces or the corresponding Indian States might have sued or been sued if this Constitution had not been enacted
(2) If at the commencement of this Constitution—
(a) any legal proceedings are pending to which the Dominion of India is a party, the Union of India shall be deemed to be substituted for the Dominion in those proceedings; and
(b) any legal proceedings are pending to which a Province or an Indian State is a party, the corresponding State shall be deemed to be substituted for the Province or the Indian State in those proceedings
ARTICLE RELATED TO:
section 292-294 of ipc in Hindi, article 292 and 293,292 293 294 ipc in Hindi, article 292 and article 293,ipc 292 293 and 294 in Hindi, section 292 293 and 294 of ipc, article 292 and article 293 kya hai,292 to 294 ipc in Hindi,292 ipc,293 ipc, article 292, article 293, section 292, section 293, section 292 ipc,ipc 292 in Hindi,ipc 293 in Hindi
FAQ
What is Article 292 of the Constitution of India?
Article 292 of the Constitution of India "Borrowing by the Government of India" The executive power of the Union extends to borrowing on the security of the Consolidated Fund of India within such limits, if any, as may be fixed by Parliament from time to time. Is. To give guarantees within the law and such limits, if any, as may be decided.
What is Article 283 of the Constitution of India?
Constitution of India 1949 Central Government Act Article 283 283. Custody of money deposited in the Consolidated Fund, Contingency Fund public accounts, etc.
What is Article 275 of the Constitution of India?
Q. According to Article 275 of the Constitution of India: 1. Grants-in-aid should be given to every State of India 2. Allocation of grants-in-aid should be distributed equally based on population/income of the concerned State 3.