“The interpretation which is not in conflict with the intent of statute should be opted for”. This is the principle of
This rule of construction is adopted in case of conflict between two or more statutes or between two or more parts of the provision of the same statute. According to this rule, every statute has a purpose or intent as per law and therefore, be treated as a whole. Only that interpretation is adopted which is consistent with all the provisions of the statute. However, when it is impossible to harmonize both the provisions, the court’s decision regarding the provision shall prevail. The interpretation which results in hardship, injustice, inconvenience or anomaly is avoided and the one which supports the sense of justice is adopted. The interpretation which conforms to justice and fair play preventing injustice should be favoured by the Court. In case there are two provisions in a statute, which are apparently in conflict with each other, then they should be interpreted such that effect can be given to both and that the construction which renders either of them inoperative and useless should not be adopted except in the last resort.
Compute the payoff to a long position in a forward contract given that the forward price is Rs 35 and the price at maturity is Rs 55.
In case the company has issued Bonus shares, which among the following ratios will be affected?
According to data released by the Controller General of Accounts (CGA), the central government’s fiscal deficit touched _______ of the full-year targ...
The value of derivative is determined by
Which among the following correctly describes Margin of Safety?
Which Russian bank has become the first Russian bank to to register with the SEBI as a foreign portfolio investor (FPI) according to the information...
The Reserve Bank of India has fixed the limit for Ways and Means Advances (WMA) - a temporary lending facility for the government for the second half of...
The Reserve Bank of India (RBI) has permitted non-banking finance companies operating as Infrastructure Debt Fund (IDF-NBFCs) to raise money through ext...
What does the two way rates quoted as 1$=75.10/11 ₹, mean?
Marginal costing technique follows the following basis of classification: